@steven: That was pretty well thought out, but i noticed one thing, that i need to comment; If the banks would give the people a couple of years free from payments, someone would need to bail the banks out until then, you suggest it would be the government, but all the money would be away from the public services.
Also, if the government creates more jobs artifically, the number of jobs would need to be so low, that it could be sustainable for extensive periods of time, if not, it will backfire (and this is the excact thing Jackson50 was talking about).
Now, what the US government is doing, is effective way, although not something you'd wish for, to bail out the banks by creating the trash bank, which only purpose is to get as much of the borrowed money back, no matter the cost.
The real problem has been the growth, when the economy grew beyond sustainable. What basically solves the issue, is devalvation and/or recession.
Ei Kiinasti.
Eikä Japanisti.
Vaan pannaan jalalla koreasti.
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