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The Importance of Technology in Stabilizing a Debt Deflationary Global Economy
Unemployment rose both in Europe and in America to 12%. We are down to 5.5% in Europe but we are at 12%. We still have deflation. Investment is the lowest 7-bit. The beauty of the federal system is that it is an automatic stabilizer. It goes into operation without any knowing it. So you can imagine why when the full blast of the 2008 financial disaster hit both America and Europe, America had the automatic stabilizers, not clever politicians. Politicians could all be asleep. They could have all been on holiday. If it was operating as Europe does, it would have been a grease. Insolvent with insolvent banks constantly cap in hand seeking more