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OT-The coming Depression

The world's rich countries are now conducting a dangerous experiment. They are repeating an economic policy out of the 1930s - starting to cut spending and raise taxes before a recovery is assured - and hoping today's situation is different enough to assure a different outcome.

Back then, however, European governments were raising their spending in the run-up to World War II. This time, almost the entire world will be withdrawing its stimulus at once

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History repeats ?

Best Regards Tom.

Reply to
azotic
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Which idiots thought up the idea that removing money from people by force (taxes, and printing new money) would create jobs? Oh, yeah. Liberal Democrats, that's who.

So they are slowing spending (Yipeee!).

Reply to
Stormin Mormon

"azotic" on Thu, 1 Jul 2010 03:46:59 -0700 typed in rec.crafts.metalworking the following:

"History rarely repeats herself" is the cliche. In reality she just lets fly with a frying pan yelling "Why weren't you listening the first time!?"

Sigh, the unfortunate lesson of history, is that for the most part, people rarely learn the lessons of history. Or they find a "different" way to make the same mistakes - again.

tschus pyotr

-- pyotr filipovich There are two cliches in History: "After all, these are Modern Times." and "The good Old Days, they were Better."

Reply to
pyotr filipivich

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