19790 9 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Experiencing a depression, you don't need shared sacrifice, you need spending to get the economy moving. you can see how wrong it is if you think about this. a family which has overspent needs to tighten its belt, but it doesn't as part of its belt tightening start by having one of the spouses quit his or her job. >> right. >> but an economy, when you do belt tightening in the economy it leads to mass unemployment which is crazy. >> the bank of england did a study recently that our segment producer found that is so fascinating t.talks about -- he looked at all the countries in the world and it...

Producer found that i think is so fascinating. it talks about the -- it looked at all the countries in the world and it's valuated the percent of country years spent in banking crises, and from 1950 to 19790.9% of total country years are set in banking crises and from 1980 to 2010 almost 20% of total country years in the countries analyzed are spent in banking crisis. what is going on? >> it's actually not much of a mystery. it's liberalization. we had from 1950 to 1980 osh actually from 1935 to 1980 roughly, we had a very tightly controlled banking system in just about every country because t...