Those who say to 'do nothing' don't know what they are talking about. The government and central bank cannot do nothing. It is impossible. In normal years they don't 'do nothing' - the government sets the tax rate, develops a budget. The reserve bank reviews interest rates and adjusts them up or down. Saying "do nothing" is at best naive and at worst destructive. Society expects the government and central bank to take actions that will help minimise extremes in the economy. If by saying "do nothing" they mean for government, reserve bank, commercial banks etc to make the same decisions that they made in prior years that is still 'doing something'. And any sensible person would have to ask why, because in prior years the situation was quite different.
Those who say 'let those in debt go down and drag everyone else down with them' must only thrive on disharmony and negativity. They might as well wear a sandwich board labelled "Repent! The end of the world is nigh" :)
These guys operate at the fringe and only do so to get the headlines IMO. I wonder if they take the same view with their health - no medicine or surgery - if the patient dies and infects and kills the entire population, so be it!
