Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (466546)	3/26/2009 4:11:51 PM
From: combjelly	Read Replies (1) of 1575637

"Debt was at lover levels than it is now, and consumer debt was at much lover levels." An irrelevant metric. It was high for the time. Much higher than any time preceding it. And much higher than in the immediate post-war period. "It would directly have resulted in more bankruptcy, but the total effect would have been less bankruptcy." Which would have made the bad financial situation even worse. Which likely would have resulted in even more businesses collapsing. We don't know what would have happened, only what happened. But pay cuts as a solution isn't the no-brainer you are pretending it would have been. It could have easily made things worse.

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