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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 385.99+1.6%Nov 12 4:00 PM EST
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To: 49thMIMOMander who wrote (35455)6/5/2008 1:58:34 PM
From: elmatador  Read Replies (1) of 217740
 
Economic contraction occurs when levels of production and consumption cannot be sustained. Economic collapse occurs when economic contraction coincides with a period of excessive build up of debt.

It is preceded by a period in which debt climbs quickly in the hope that each new level of indebtedness will finally see the economy 'turn around' and service the debt. The collapse is the realization that it won’t work. There is a crisis of confidence. People panic, sell stocks, call notes, liquidate holdings and rush to currency or instruments that have high value.

The Next Economy. 1983

Therefore, a quarter of a century ago, the writing was on the wall.

I bought the book in 1995 once I saw the collapse iminent. Tetch bubble and housing bubble delayed it.

Bought in Singpaore ina used book shop. My wife needed a test during Experiment manufacturing and we came to Singapore.
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