China is important enough that this will have mid term lingering and nasty effects, however as the wrong thinkers/thinking still prevails and the system is complex and large it can still trundle along for literally decades inflicting continual…and completely unnecessary pain. All the more reason to act quickly, decisively and most especially thoroughly with actual and complete policy solutions as opposed to a palliative. That solution has three aligned and reflective aspects: 1) A modern Debt jubilee 2) A universal and variable Dividend to the individual 3) A macro-economic computation of a retail discount percentage applied to all retail products and services including the retail product of Banks, namely loans whether they be direct or through intermediaries like home builders etc. The latter two policies need to be permanent as the system itself will continue in an inherent state of disequilibrium of the ratio of total costs/prices to total individual incomes simultaneously produced that is enforced by a flaw in the conventions of cost accounting (all costs must go into price) that for micro-economic knowledge and signaling purposes is quite rational and correct, but which MACRO-economically insures the above described disequilibration….unless costless, i.e. monetary policies and policy effects that are direct to the individual and free gifts are implemented. A new paradigm of Grace must be integrated into profit making systems or they will cease to exist.