Exactly the point I have been making here for some years. It took a couple of decades and lots of then cheap energy and raw materials to build the "suburban infrastructure" the US foolishly chose. To a take trivial example: the nails in a 2by4 now cost more than twice as iron ore prices are climbing etc. the coke that reduced the Fe2O3 has more than tripled in inflation adjusted dollars. The US has neither the time nor the money to tear down suburbia and build the high rises and good urban schools, parks, public transport, etc. it should have, It will take less than a year to go from boom to deep, deep depression and I predict that a run on the dollar will be the trigger. All this credit being pumped out to stem the recession until at least post election, means there will be depression. It is, and will continue, to make holding US treasury bonds the surest way to lose purchasing power as it has been for a couple of years. Why finance the US debt? That debt is still growing. IMHO depression is now unavoidable.