The problem never was repossessing debt. Fiat money, unlike gold, is all about direct resource allocation. Pouring trillions in bad corpoarate debt is just a

The problem never was repossessing debt. Fiat money, unlike gold, is all about direct resource allocation. Pouring trillions in bad corpoarate debt is just as bad as pouring trillions in inflating the housing market -- resources are poorly allocated and capital markets are bypassed. Bad debt is bad debt, it is equally destructive in the end.