There was an article on ET way back showing historical bankruptcy of other nations and trends of how it happened. I'll see if I can dig it up kinda lazy to do it. It shows that just before Hyperinflation which is basically bankruptcy and destitution. There is a brief period of unexplained deflation that lulls everybody into false sense of security like "oh thank god it's finally over instead of inflation we have deflation" And then kaboom. No emoticon available on this site is appropriate.