us on the brink!, page-152

Skol you asked…:” The USA had more debt/GDP twice in the 20th century than it does now and did the world end?”
Well my understanding is that last time the US and indeed most developed economies had this level of debt, it was the time of wolrd war2
So, I’d venture that yes….. the world as we knew it did end!!!
Think about the changes after that period
And remember that was the only way we got out of the financial malaise of 1929 to 1937
So by your own volition, maybe you are suggesting we have this also to look forwards to.
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Please let me the other time when the debt levels were so high… so I can see how they dealt with the massive debt and got themselves back in the black!!
Regards