By Chris Wood, Casey Research A few weeks ago, the Federal Reserve released the new Z.1 Flow of Funds document, which covers flows and outstandings through the fourth quarter of 2009. What does the document reveal? You guessed it – more of the same reckless behavior that got us into this mess in the first place. While households and businesses were able to shed debt across the board, increases in local, state, and federal debt outstanding were enough to bring total debt outstanding to a new all-time high, over $34.7 trillion, if you can believe…