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kleinbl00 · 3576 days ago · link · · parent · post: Jeremy Warner: Austria is fast becoming Europe's latest debt nightmare
Did they convince you? They didn't convince me. If you look at the wikipedia page for Creditanstalt (I had to look it up, having never heard of it), it was founded in 1855 and went bankrupt in 1931... two full years after the stock market crash of 1929 (which most people tend to point to when we're discussing the Great Depression). Then they follow up with a back-handed comment about Detroit (which didn't sink the US or even Michigan) and Ireland (which recovered quite nicely, thanks).