In your daddy's or grand daddy's depression or recession, it was pretty much confined to a country or countinent. Not this one. Its the world all rallying up together. Now will be the race for everyone to have the weakest currency, so that one can sell to others.
Odd race that. But it fit s the view of rampant deflation before severe inflation.
This time around, It is all countries in a funk not just a hand full. When its just a handful the weak countries get an advanatage of selling to all the rest because of their currency and things kind of stabilize out.
Not so this time.
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Insightful and Useful Comment!