"...about what I use -- to be technical. the word is an evocative word, and it can be scary and so on. So what do you mean by a depression? Ok? Something like happened in the 1930s. So just to repeat, 1929 to 1932, there was a fall in the economy. Double digit unemployment..."
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"And then you can make up money, and make up credit, and you can keep them alive in some way, and you did it with banks, and through the banks, where were the mortgages, and that's what it looked like." "This is more complex than that, because you have the banks, and then..."
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"and then there are those, all of those beyond the banks, all the little businesses, and it's a bigger crisis and we have a less effective monetary policy because interest rates have reached their limit, and just buying financial assets by the central bank & buying the normal..."
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"...financial assets won't work. They have to buy the debt of the government. And the government, or *the many governments,* have to be effective in getting buying power and production to those who need it around the world"
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