A depression reduces asset prices, consumer prices, and interest rates. This makes it possible for investors and business people to redirect their efforts on projects that will work.
The stock market indices had a very difficult day today, although they gapped up sharply in the morning and reached a key resistance area near 1250 S&P 500.
Yesterday's Financial Times told us that the industrialized nations will borrow $10 trillion this year. Next year, the figure should be higher. Where does all that money come from?
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