Debt.....nothing else matters

They say a picture is worth a thousand words...I think this one works in terms of explaining the developed world today. It's the only thing that matters...if you take out debt, recessions aren't scary anymore, slow downs can be absorbed, and interest rates are irrelevant.

On the flip side if you look at the current situation in Europe, the US, and Japan..recessions are a doomsday scenario, slow downs are catastrophic because you won't be able to pay for your liabilities, and interest rates are the ONLY thing that matters on a day to day basis...