Beyond a certain point, an over-indebted society can’t function without continued infusions of new cash. Turn off the spigot and you grind to a halt. The world is one big Ponzi scheme, in other words.
http://investmentwatchblog.com/beyond-a-certain-point-an-over-indebted-society-cant-function-without-continued-infusions-of-new-cash-turn-off-the-spigot-and-you-grind-to-a-halt-the-world-is-one-big-ponzi-scheme-in-othe/