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March 4, 2019 | Were There Government Defaults in Canada During the Great Depression?

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

QUESTION: You always mention how there were defaults and suspension of debt during the Great Depression by states and municipals. Was this also true in Canada?

JRT

ANSWER: Oh, yes. Whenever commodities have collapsed, Alberta finds itself in trouble. Central banks look to the national market and not to the regional sectors.

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March 4th, 2019

Posted In: Armstrong Economics

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