Friday, 22 April 2011

A Comparison of 1931-1936 and 2008-2013


Real (constant currency) federal total receipts continue to contract as the federal budget (Jim's Formula) rolls over. This vicious cycle is characteristic of a Great Depression (or Recession). Vicious cycles are highly dependent on liquidity (quantitative easing) to maintain economic activity and support an ongoing debt collapse. Another downward leg of the Great Recession will resume when...
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