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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: FreedomForAll who wrote (104493)8/17/2009 3:40:26 AM
From: Elroy Jetson4 Recommendations  Read Replies (1) of 110194
 
Could the global farm and manufacturing overcapacity created by WW-I have been cured without WW-II? Yes of course. In fact by WW-II the excess capacity no longer existed.

The destruction of the industrial capacity around the world certainly created U.S. prosperity in the manufacturing sector until the late 1960s. In a real sense I think it also placed American manufacturers on the road to failure as many lost all sense of how to run a competitive business after a 20 year position verging on monopoly.

Certainly in the 1800s and even prior to WW-II America was known as a country which did not respect international copyright or patents, much as China is correctly seen today. In many ways a nation of poorly educated farmers.

After engagement in the two world wars the America written of by Alexis de Tocqueville existed only as echos of the past. The culture of America had been permanently changed.
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