Well it can not surprise an Austrian but it may be the "unthinkable" for the current main stream voodo economists. Just some things about Europe: http://www.zerohedge.com/news/2013-01-09/20-facts-about-collapse-europe-everyone-should-know It surely shows how the credit expansion break down...
Posted to
F Dominicus Blog
by
Friedrich Dominicus
on
Thu, Jan 10 2013
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Filed under: war, Debts, civil war, defraud, deledefs, von Mises, destruction, financial tsnuami, businessss cycle, dependence
Dear readers it seems I have to suggest some literature for you. Check out the following books: "Bailout nation", "Credit Card Nation" and "Human Action". In 1998 there was a nation-wide negative saving rate at work. And you know that was also the time of the Internet bubble...