The First Decade of this New Century Was "The Decade of Debt"

[Yavin4]

This next decade will be "The Decade of Default".

In the first decade of this new century, humankind has never before seen the incredible rise of global debt. Cheap money policies from Central Banks and the onslaught of financial engineering (Derivatives) made cheap money widely available with supposedly minimal risk.

Both of these myths are now false, and we're facing trillions of dollars of obligations that will eventually have to be defaulted upon. Why? Simply, there is not enough economic growth possible to even begin re-paying these debts.

[Po_d Mainiac]

1. Insurance against default

just ain't what it used to be. We could see a run on the biggest banks, without a single depositor going through the front door.
YMMV