On Thursday, March 26, 2015 at 2:12:42 PM UTC-4, F. George McDuffee wrote:
On Wed, 25 Mar 2015 16:20:55 -0500, dpb
wrote:

snip
The problem isn't per capita, it's whether there's sufficient GDP to be
able to service it or not.

There's a reason the PIGS are the one dragging down the world system
every time they near default.
/snip

IMNSHO the problem goes far deeper than a few
unfortunate and/or venal countries, but rather is a systemic
problem of the new integrated *DEBT BASED* global socioeconomy....
...
The task now is not to whine and complain, but
rather to limit the damage ...

Yes, and there is the cruxpoint! Limit the damage, ie... when a bank(s) is going under in mass. You stop that by conducting more or less "yearly" stress tests.

Here is a recent simplification of modern prevention of great depression scenarios:

"The subsidiaries of both Deutsche Bank and Banco Santander failed the stress tests for "qualitative" reasons among which were their inability to accurately identify risk and to respond realistically to losses.

The annual Fed 'stress tests' aim to ensure banks are capable of functioning during periods of "financial stress".

-- http://www.goldcore.com/us/gold-blog...k-of-bail-ins/