Politics Economics — Re: "Its different this time". They said the same before and during the last crash.

> Stephen Glynn wrote:
> > During this period, of course, interest rates rose pretty rapidly
> > from (Bank of England MLR) 8.38% to 14.88% in October
> > '89, before falling back to 6.66% in November 1992.
> >
> > http://213.225.136.206/mfsd/iadb/Repo.asp?Travel=NIxIRx
> >
> > Isn't that a rather significant difference between then and now?
>
"Crowley" wrote
> Yes and there's a rather significant difference
> between the level of debt then and now.

What would be the problem with (say) GBP 100 trillion debt, if interest
rates were 0.00% ?!

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