In the 1930 around 10000 banks have defaulted. The total amount of assets involved was equivalent to approximately 100 billion of today’s dollars. In the period 2007-2009 that amount was equivalent to 7 trillion dollars. While in the 1930s the amount of assets involved per person could be valued at around 800 dollars, today the price tag is close to 20000. It appears that economists and politicians haven’t learnt any lessons. We have much more technology, a more advanced math (maybe that is the problem!) and information in abundance.
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