hong kong, thailand, argentina, philippines, indonesia, korea, turkey, russia, ... when the money simply disappeared with willing creditors, and wages and asset prices fell dramatically, enough to be fatal to enough / many, in a matter of weeks, all within the past 10 years, resulting in genuine GDP losses measured in local and harder currencies and gold
soon enough will happen to the new peripheral states such as italy, spain, greece, and inching toward the next line of defense, france, britain, and cross the atlantic, to the center, perhaps to be held at bay by infrastructure bubble, maybe not, we will see |
