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There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved.
Ludwig von Mises
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Monthly Archives: December 2011
Cameron’s non-veto of a non-existent treaty
The press have devoted much coverage to Cameron’s apparent veto of changes to EU treaties. The only problem is, you can’t veto a treaty that doesn’t exist. Cameron effectively admitted as such in the House. As Richard North explains, The … Continue reading
Overdose: The Next Financial Crisis
The following documentary, Overdose, offers a more coherent explanation of the housing boom and bust than any other documentary I’ve seen thus far. The mainstream broadcast media in the UK has barely touched on the themes in this documentary, and they … Continue reading
The Aussies sure have a sense of humour
This is one of the funniest videos I have seen on the sovereign debt crisis – as I’ve said before, when facing disaster in the face, we need some comic relief!
The cost of drug prohibition
The topic of illegal drugs is one where I’ve changed my mind over the years. Growing up I agreed that illegal drugs should remain illegal, believing that taking drugs was both dangerous and immoral. I’ve since decided that outright legalisation … Continue reading
Posted in Uncategorized
Tagged Drug War, libertarianism, mexico, milton friedman, Prohibition of drugs
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Capitalism or crony capitalism?
As I argued previously, the Occupy protesters are justifiably angry, but to direct their anger at capitalism is a mistake, since it was not free markets that created this current finanicial crisis, but rather a system of crony capitalism and government interventions. … Continue reading
Posted in Uncategorized
Tagged bailouts, capitalism, crony capitalism, economics, econstories, Goldman Sachs, hayek, henry paulson, libertarianism, occupy wall street
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We live in “grammar-straining times”
Brian Micklethwait over at Samizdata has a funny post regarding the views on the economic crisis – explaining that there are at least 3 views on the subject, and having to apologise for his grammar in considering alliances between them: … Continue reading
