[nhaehnle]

> Everybody is drowning in debt

Wrong. The economy was fueled by unsustainable private debt before the economic crisis. Part of the recession was shifting this private debt somewhere else, so that it has largely become sustainable public debt.

Your claim that "everybody is drowning in debt" is clearly a mischaracterization of what is happening in the real world.

Regarding your off-the-cuff comment about "printing more": I find it incredible that Austrian types still cling to their delusions so much that they outright deny the possibility that an increase of demand can lead (and does lead, in a slow economy) to an increase of production.