Monday, January 30, 2006

Only Once in the Last 100+ Years Have Americans Not Saved Anything At All--1932/1933


By Elaine Meinel Supkis
The only time Americans were unable to save any money at all, collectively, was when the entire banking system collapsed around the entire world. This singularily bad event, a cascade of bad credit and defaulting on loans, began during WWI when all the major empires of the world went in debt to the USA to fund that massive kill-fest.
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