DEN71,free markets are not the cause of the current demise.A monopoly system of private money creation is the central cause.Since private banks can create from nothing all the money to equal our productivity,they own our productivity and give it back to us as debt.

This is why the West is consumed by debt and China can grow at 9-12% pa with no debt.

When the central banksters own our currency,the market can never be free.

Do your homework, Arjay, for goodness' sake.

>>This is why the West is consumed by debt and China can grow at 9-12% pa with no debt.<<

No debt? Of course they have debt. Here is the story of just one city, and how it has funded its growth through borrowing, just like every other growing entity.

http://online.wsj.com/article/SB10001424052702303459004577359972617862832.html

To help you understand the scope of it, there are just over six Yuan to the dollar.

"10 major investment vehicles the city used to fuel its growth accumulated more than 346 billion yuan ($54 billion) in liabilities, as it recapitalized banks and built highways, bridges and other projects that boosted growth and helped attract global companies looking for an entry into China's booming inland markets. In 2007, when Mr. Bo became Chongqing's party chief, its top post, those vehicles had total liabilities of 162 billion yuan."

Oh, and then there's this:

"I don't think it would be a stretch to say that Chongqing local government, state-owned enterprises and state-owned developers collectively owed 1 trillion yuan at the end of 2011"

Which can be put into an overall perspective here...

"Local investment vehicles like the ones in Chongqing became more aggressive after the 2008 financial crisis as the government tried to stimulate growth, leading to an estimated 10.7 trillion yuan in town-hall debt nationwide."

This took nearly ninety seconds to discover, simply by Googling "China's debt", and there's plenty more where that came from.

Do you deliberately avoid checking your wild assertions, for fear of discovering that you are talking through your... hat?