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America's Banks: Are They Really Insolvent?

We don't have the luxury of a lost decade.

Japanese are furious savers. Their govt can exploit that and use their behavior / savings to eventually plug the hole. That gives them the ability to maintain economic status quo statically without growth nor catastrophe.

US Citizens are the furthest thing from a saver. As a result there's no funding behavior that the govt can exploit to eventually plug the hole. Right now we're muddling through by Fed's carrying of debts, but that's clearly not sustainable. You can't run a 10 year fed bailout. In fact, with our huge, govt debt and running deficit, our debts run a natural course to crush the economy unless we can grow / increase enough cash flow to service it. A static economy doesn't work in our case.

So don't think for a second that the current "relative" calm in the market can be sustained for long. The Govt has to decide: Default, Nationalize or hyper inflate; soon or the market will decide for us.