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
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