What was american’s debt to savings ratio back in the 30’s? Did we have the same level of credit available back then.
Seems to me the big difference between today and the 1930’s is, please, eventhough broke, used cash for everything so the banks were able to use some of that to handle the slamming that took place. Now where do the banks and the feds go? No one has savings anymore. it’s all credit.
