Could excessive debt lead to the demise of democracy?

David Buik is a market analyst in London and told us today on Happening Now that, "for the first 40 years...the world was completely devoid of major political figure heads".

Their problem? "They don't seem to capable of making decisions," he says. Both the U.S. and the E.U. run around like headless chickens from one crisis to the next and don't work together to solve their deficit problems.

Buik believes, "excessive debt could lead to the demise of democracy."

What do you think?