The Red Queen's Race is an apt analogy for the meltdown in assets and debt now swamping the global economy.
The Red Queen's race refers to running very fast to stay in the same place. As asset values fall globally (except where massive government stimulus has pushed the day of reckoning forward a bit), debt holders are frantically paying down or writing down debt--running very fast--but finding themselves in the same place--zero equity--despite their prodigious efforts.
I've prepared a chart to illustrate The Red Queen's Race in assets and debt: Full article at: Asset Meltdown
