Thread: Wall Street fears for next Great Depression
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Old Tuesday, March 18th, 2008
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Default Re: Wall Street fears for next Great Depression
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Originally Posted by Marulus View Post
It is not hundred per cent sure that this method of stimulating economy by the means of war will always be efficient.
The US has been on a permanent war footing since maybe 1950, and it has a thoroughly militarised economy (the "military-industrial complex"). But it's now at a stage that inefficient and wasteful military expenditures don't stimulate it anymore but drag it down further. In all commercial sectors (i.e. non-military), the US has taken a drubbing: automobiles, machine tools, television, etc. The reason for the depression in the USA will be an eviscerated manufacturing sector with an economy that has been sustaining itself with artificial and toxic financial steroids.
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