Karl nails this one: Why The Fed's Policies WILL Collapse The Economy
The Fed simply cannot debase the currency enough to account for the tsunami of bad debts profligate financial speculators incurred over the last decade. Even if the Fed were to devalue the dollar enough such that the productive economic sectors' wages were essentially reduced to zero, it will still be like bailing out the Titanic with a thimble.
NOTE: I plan to publish a wonky version of my "There Is No Red Pill" post that removes the pop references and most of the cynicism that reviewing the underlying data instilled within me. There will be a lot of econ chart porn, so be prepared (not suitable for work because sleeping on the job is grounds for dismissal).