Jump Starting the Economy: Is it Time to Implement Consumer Debt Forgiveness?

Something that has not been heard of Since the 1930's maybe the only saving grace for the U.S. economy. American's have way to much debt and not enough savings and forgiving mortgage and revolving debt maybe the solution to fix the economic disaster that we are in. See what Stephen Roach of Morgan Stanley has to say about this subject.
-Blogging4Bullion