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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: February 2012
The Blessings of Destruction
Better late than never, I’ve got round to the next in the series based on Hazlitt’s book, Economics in One Lesson. In the previous post, I looked at the broken window fallacy, which underpins the whole book. Today, I’ll focus … Continue reading
The next step in abortion
A new study in Australia has come out arguing that we should consider allowing post-birth abortion, or as most normal people call it, infanticide. I’m not surprised, it is a logical step that follows from the reasons given for allowing … Continue reading
Posted in Uncategorized
Tagged abortion, Christianity, infanticide, pro life, slippery slope
1 Comment
Why unemployment persists in recessions
Previously, I’ve explained the view of the Austrian school on what causes recessions – the boom and bust cycle caused by manipulating interest rates, and the money supply. But what causes the recession to continue, and unemployment to persist? The simple answer … Continue reading
Posted in Uncategorized
Tagged Austrian business cycle theory, Austrian school, bailouts, central banks, economics, recession
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What the world’s central banks have been upto
Via ZeroHedge, the worldwide race to the bottom continues: Hard to see how this ends well.
Posted in Uncategorized
Tagged Austrian school, central banks, inflation, printing press, Quantitative easing
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Quote of the day
It is solely down to a finger-wagging attitude of what some people want others to eat. You’ve all met one of these ghastly idiots who swear about how appalling McD’s is but consider a Starbucks Dolphin-Friendly Tuna Melt the height of taste (at 93 calories … Continue reading
Tom Woods sums up the bizarre reasons people won’t vote for Ron Paul
I make no apology for quoting from Thomas Woods again, he’s one of my favourite writers. He’s a fervent Ron Paul supporter, and I’m hoping Paul wins the Republican nomination as well, though my support is a little more qualified. … Continue reading
Economic theory or empirical data?
It is not unusual for defenders of quantitative easing to claim that the massive injections of money by the Fed or the Bank of England have not caused price inflation, and therefore do not have the negative effects that critics … Continue reading
Posted in Uncategorized
Tagged Austrian school, Consumer price index, Douglas Adams, economics, epidemiology, great depression
3 Comments
Abolish the Bank of England 