There is a great oped piece from Niall Ferguson on how best to combat the financial crisis and all I can say is that I absolutely agree with his analysis. Here are two snippets:
The harsh reality that is being repressed is this: the Western world is suffering a crisis of excessive indebtedness. Many governments are too highly leveraged, as are many corporations. More important, households are groaning under unprecedented debt burdens.
and this:
The delusion that a crisis of excess debt can be solved by creating more debt is at the heart of the Great Repression. Yet that is precisely what most governments propose to do.
The whole thing here: Niall Ferguson oped