Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
That's the role the Great Depression played ~ though in the unhappiest of a number of alternative ways to eliminate an unsustainable 2.5x national GDP private debt overhand.

Then, for the lucky ones to pick the winning side yet not fight on their own soil, WWII generated a tide of high quality government debt to restore balance sheets.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Sat Apr 23rd, 2011 at 07:55:01 PM EST
[ Parent ]
e-wow, great thread, guys...

the narrative emerging clearly shows the 'through the looking glass' factor.

seems like the whole capitalist world finance industry took a giant left when the shift to derivatives from bonds happened, hard left to La La land...

.... and because we have all been brainwashed into thinking bankers to be risk-averse, the world economy is teetering.

lovely... just peachy

for the buck-aneer banksters

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Fri Apr 29th, 2011 at 10:46:02 AM EST
[ Parent ]


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