He's probably making a shockingly bad and inaccurate Depression analogy. The banks loaned money irresponsibly, leading to a crash. Sound depressingly (zing!) familiar?
This deserves its own thread as an argument, so I will content myself with saying merely that you are wrong.
We should have just left it at 'ignores demand'
Because the concept of Balarus was a very new concept at the time. The Germans for example, talked about litterally discovering Bellarus. (I remember in German class we had a student from Bellarus, and we tried to figure out how to translate it. We came up with 'Weissrussland, Weissruthenien, Byelorussia', and a few others) Census taking by the German Army was havoc because most people didn't identify by nationality at the time. When asked for their "nation" many people would give their religion, their town or their surname. Most of the population spoke another language, very often even in their own house.
Bavaria wasn't a single duchy for most of the fourteenth century. In 1349 the Wittelsbach sons of Ludwig IV split it into Niederbayern and Oberbayern, and then in 1353 Niederbayern was partitioned again into Bayern-Landshut and Bayern-Straubing. So three years later when the Golden Bull was drawn up, there were three Bavarias, and all of them were pretty weak. It's true that the electors were already somewhat codified by the Rhens declaration of 1338, but Bavaria was in a partitioned state then, as well.
Because that was the law, and people tend to have at least some respect for constitutional law? Because in practice, the office of the Emperor was never held by any one person powerful enough to impose his will on the princes of the Empire by force, and so in order to have any power at all needed to work within a legal framework? Anyway, no Emperor could have gotten an eighth elector or a revision of the electoral system through the Reichstag for several centuries. Maximilian of Bavaria's assumption of the Palatine electoral seat put even more fuel into the constitutional fire that started the Thirty Years' War, and certainly cost the Habsburgs and their allies supporters during the war itself. Indeed, the constitution as it was was such a central element in German political history that it took something as cataclysmic as the Thirty Years' War to change it.
The Habsburgs weren't fighting the Turks and they had most of Hungary, I suppose - though the Rákóczi uprising mitigated that to some degree. The extent to which France was "allied" to Spain is also arguable; was Spain more of a manpower pit and money sink for France due to the Catalans, Portuguese, and English, or was it a useful ally? Same with Bavaria - did it suck French troops away from useful purposes by sending them on a fool's errand into southern Germany, or did it boost French effective manpower? I don't know the answers to those questions...
...We really need to start coming up with more creative names for wars.
