Yes, U.S. Can Escape from Financial Black Hole! Here’s How

Every textbook Keynesian solution to escape the [financial] black hole of liquidity entrapment [we are in] has been tried on a grand scale, and failed on an even grander scale but the solution is simple: renounce/write down all impaired debt, wipe out the “too big to fail” banks, and restrict the reach and political power of the remaining banks and Wall Street. Until we’re willing to do that, then the liquidity trap will remain a black hole that the economy cannot possibly escape. [Let me explain.] Words: 1122
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