The Second World War.
Sorry - that's right-wing spin. Sure, it created a booming war economy, but FDR's policies ended the depression. Maybe we can eventually make language a complete impediment to understanding. -Hobbes
My original point still stands -- what we're currently witnessing is NOT a collapse equivalent to the depression; and the political environment Obama stepped into is different from the one FDR stepped into. Everything else remains to be seen as they also say. Maybe we can eventually make language a complete impediment to understanding. -Hobbes
- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
On the latter, I think it is wrong to interpret the recent rise in government bond yields as a sign that the sustainability of public finances is at risk. En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
Of course, 15 years of banks accummulating treasury bonds with very limited private investment due to strong war economy regulations of private industry also left the banks with a huge ability to lend and the private sector with a huge ability to borrow, leading to massive credit to fuel the boom. En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
