Quote:
Originally Posted by GregE
The great depression lasted for ten long years.
Were it not for WWII the conventional wisdom is that it would have lasted a hell of a lot longer.
And, while we're on the subject of WWII, consider if you will that had the depression been shorter and/or milder it's quite possible that there never would have been a WWII. Hitler barely had enough support to come to power as it was and Japan's aggression in Asia was (in their eyes) about gaining enough natural resources to become economically self-sufficient and thereby depression proof.
Trust me, if the world sinks into another great depression what follows will be damn ugly.
Perhaps even as ugly as it got during the last one  |
yes, FDR in fact didnt save US economy, it was war, with US being a big supplier of goods to the rest of countries during war.
but what makes you think the GD2 isnt on the way to repeat? all those stimulus plans ?
Quote:
Originally Posted by teomaxxx
http://www.independent.co.uk/news/uk...e-1519067.html
"The IMF says tax cuts and public spending and borrowing boosts all over the world will be useless unless the financial system is rebooted.
Its managing director, Dominique Strauss-Kahn, warned: "If there's not a restructuring of the banking system, all the money you can put into [monetary and fiscal] stimulus will just go into a black hole.""
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so stimulus isnt probably going to help at all in the long term, if banks arent restructured.
cause what they are doing nowadays with banks is to make sure the recession/depression will be long.
the current bank system is full of zoombies pretending to be still alive by accounting tricks - thats the fact I have from non-mainstream bank analysts (who sucessfully targeted dozens of already failed companies months or even year before they failed) and who are 99% ahead of regular economist analysts