| re bond market 70 years ago,there was a big bond market and it did collapse ,south america defaulted continent wide,do not forget german bonds for war reparations repudiated by hitler,bonds of turkey ,china ,much of eastern europe,yugoslavia,greece,defaulted and just about every other debtor nation suspended debt service.in 1932 Us savings banks found it difficult to liqudate high quality corperate debt to meet declining deposits.Bonds go hand in hand with stocks.rail roads,telephone,traction cos.,any thing that needed a large capital investment for infrastructure used bonds to finance its building. |
