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I selected pretty bad but not inevitable. The players in this game are the same (the 1930's and now) and the lesson is there to be learned (again). The banking system, worldwide, has behaved very badly. If this scenario is not to be repeated we need some sensible worldwide regulation. A good start would be preventing the banks from jacking up interest rates and not passing on full RBA cuts in an attempt to maintain profits which they don't deserve; these guys either directly or indirectly have causes vast amounts of our superanuation to vanish.
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