NO WAY OUT - II

Since I wrote Part I, I have read a piece by John Mauldin (http://www.frontlinethoughts.com/index.asp) which explains the financial problems countries face, using Greece and, to some extent, the UK as examples. Though he makes only passing reference to the U.S., we seem to be in agreement that there is No Way Out.

Well, if we were to have a huge increase in productivity or another bubble economy, that would certainly help, and it should be mentioned. But who sees a huge increase in productivity or a bubble economy in our future?