The Great Depression only came to an end when the US went on a splurge of deficit spending which it eventually "repaid" by skinning the UK of its Empire assets during and after WW2. The US domestic economy continued to plough on and convince the world it had assumed the mantle as provider of global prosperity from the British Empire, and everything was looking just about OK until last year. It was then that some daft bankers dared to suggest the Uncle Sam, aka The Credit Emperor, was threadbare, never mind stark naked. Up to that moment, as long the world's bankers and politicians danced around delightedly declaring the Credit Emperor to be attired in the finest fiscal garments ever to produce a phony "feel good" factor, modesty was kept in tact, the world still turned, and economies thrived.
But if Gordon Brown still wants to believe in fairies (TMP wonders if JK Rowling's £1m donation will buy her a title and a job as "Minister of Magic"), and that "there will be no more boom and bust". So here's how...
There have long been rumours that more than half the painfully easily forged US currency in circulation worldwide was counterfeit (why else would the US be so reluctant to change the design?) so why not just print a few more $trillion, keep quiet about it and carry on regardless? What the eye doesn't see etc.; but even if China did find out, it would probably be happy to keep the factories churning.
When the ink dried, a few highway projects and dams would have meant that Billy-Ray and Darleen could have paid off that toxic mortgage using the hooky cash, and everyone would have been feeling good, and none the wiser - at least until well past the next election and the time when incumbent politicians were collecting their gold plated pensions.
After all, who is going to cash up and count the damn stuff?
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