I'll jump in and say this:Quote from Scataphagos:
Many claim it will take WW3 to end our economic troubles*... seems to be a popular notion, yet nobody can explain just how and why a war will do us any good.
Would you like to give your explanation?
*poppycock, imv
The last Great Depression/Global Financial Crisis did not end with the Federal Reserve or Treasury or White House using traditional monetary/economic theories. Those theories either mitigated the Great Depression, or prolonged it, depending on ones' views.
It took a world war.
What did WWII accomplish? It ramped up the construction of factories, killed off population overshoot (unemployment), destroyed cities globally, established a new world power balance (England/Germany/Japan out, US/USSR in) and a new monetary regime to finance the global reconstruction required after flattening out much of the civilized world.
In essence, WWII created a clean slate.
You don't get that kind of scenario that pulls the world out of a global depression without dropping a lot of bombs. Countries don't peacefully allocate global resources and forgive debts peacefully amongst themselves, you know?
Unless of course, the nuclear age truly is a deterrent to world war - which I don't rule out. But then again, it could be an unconventional war as Marc Faber says - where bio weapons are secretly unleashed near financial centers.