This paper is the fifth in a series exploring the physical consequences of
the solidity of glass-forming liquids. Paper IV proposed a model where the
density field is described by a time-dependent Ginzburg-Landau equation of the
nonconserved type with rates in k space of the form Γ0+Dk2. The
model assumes that D≫Γ0a2 where a is the average intermolecular
distance; this inequality expresses a long-wavelength dominance of the dynamics
which implies that the Hamiltonian (free energy) to a good approximation may be
taken to be ultralocal. In the present paper we argue that this is the simplest
model consistent with the following three experimental facts: 1) Viscous
liquids approaching the glass transition do not develop long-range order; 2)
The glass has lower compressibility than the liquid; 3) The alpha process
involves several decades of relaxation times shorter than the mean relaxation
time. The paper proceeds to list six further experimental facts characterizing
equilibrium viscous liquid dynamics and shows that these are readily understood
in terms of the model; some are direct consequences, others are quite natural
when viewed in light of the model