[p2p-research] Fwd: Article - Der Spiegel - Can Countries Really Go Bankrupt? (without attach after bounce)

[Chris Watkins]

Der Spiegel writes:

On Sun, Feb 22, 2009 at 21:53, Michel Bauwens <michelsub2004 at gmail.com>wrote:

> And so far, national governments have gone very far. Be it in the United
> States or in Europe, the sums governments are having to cough up to prevent
> the financial system from collapse are staggering.
>

I thought they were quite small, compared to (say) the stimulus of the USA's
deficit spending in WW2, which (it's often said) was what finally got the
USA out of the great depression.

I'm no expert, either or economics or this period of history, so I wonder if
that is a good analysis. I know the USA was making money out of the war by
supplying England in the early years - but I think most of this was on the
Lend-Lease program, so they weren't getting actual earnings at that stage.
So I'm not inclined to credit the recovery to more exports, but that could
be my ignorance.

-- 
Chris Watkins (a.k.a. Chriswaterguy)

Appropedia.org - Sharing knowledge to build rich, sustainable lives.

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I like this: five.sentenc.es
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