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Prudent Man CFA is a
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We were on the gold standard in 1929 until the middle 30s. On or off, we still had a 12 year recession which ended with our supplying the Allies with war munitions.
Dec 30 09:03 am
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All Comments by Prudent Man CFA »Returning to a Gold Standard Is a Bad Idea [View article]
So on or off, now and then we got over-extended both publicly and privately on credit encouraged by a consumer driven Non-Term-Limited Congress who will never want the punch bowl taken away
A hangover is to remind you that you overindulged. A recession reminds you that you are overextended. Both are good for you in the longer run if you pay attention the their message, which is another problem.