Depressions last 10years. This is year number 1.
By Daniel at 17 November, 2008, 4:12 pm
If you cant survive 5-10years without income youll know why millions protested, organised, unionised, and rioted in the 1930s.
In the 1930s currency had gold backing unlike today. So a country couldnt just print money or offer stimulus plans and bailouts. This is fine if your the only one doing the printing but in this new world order every country can do the same thing.
Money without a backstop removes the disipline from a countries economy. Freeing their leaders to just print, bailout and depreciate its currency, allowing that country stability and higher employment at the expense of other markets.
So “begger thy neighbor” policies will be enacted this protectionism will further add to the deflationary spirials. Without such protections these unshielded markets would face high unemployment and social unrest.
WW3 may not be bombs but with accounting.
Q: Einstein how will we fight WW3?
A: I dont know but i know how we will fight WW4, with sticks and stones.
Maybe the Pen is mighter then the sword.
Cheer up, life is only an experiment in reality.
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