Has "Credit" Landed the World Economy On Its Backside? Let's Talk About It!

In spite of the U.S. government's lame pretenses assuring us that the economy is getting better, we have watched the U.S. economy crash, followed quickly by the complete destabilization of economies all over the world. Major corporations, especially banking institutes, with long track records are going belly up altogether or requiring huge bailouts to just tread water. If that isn't cause enough for concern, now entire countries are following suit. The giants in world leaders are carrying outrageous amounts of debts and the average citizen is living above their means. Has credit served to turn the economy upside down? Is credit widening the chasm between the "haves' and the "have nots?" Will credit woes be the cause of the "Falling of the Roman Empire" worldwide? Does today's credit system make it impossible to save? Impossible to get ahead? Does anybody remember a time when you didn't get it if you couldn't pay for it with cash? Voice your opinion on bringing back "lay-away!" Why is it that you basically aren't a person if you haven't got a credit card, but it takes an act of Congress now to get one...or for that matter to keep one?! When did 20% interest stop being loansharking? Let's Talk About It!