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2016-04-30

Why is Stockman wrong when he writes that "US actually didn’t borrow its way out of the Great Depression; it saved its way out"

As I documented in The Great Deformation, total public and private debt at the end of 1938 amounted to 210% of GDP, but by the end of 1945 it had dropped to 190% of GDP.

 David Stockman 28 April 2016

”Det som satte stopp för trettiotalsdepressionen i USA var ett massivt underskottsfinansierat program för offentliga arbeten som kallas andra världskriget”.

Carl Johan Gardell, Understreckare SvD 13 augusti 2009

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