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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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Tag Archives: debt
The debt limit explained
I’ve been too busy to post much recently, but this is a nice satirical look at the US debt limit: H/T Coyote Blog
Posted in Uncategorized
Tagged debt, debt limit, economics, sequestration, shutdown, USA
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Schlichter on the 1 trillion dollar coin
But once the government has replaced liquid government bonds on the central bank’s balance sheet with illiquid coins the central bank’s maneuverability is severely restricted. When the public gets nervous about inflation, the central bank would have to reverse its … Continue reading
Quote and chart of the day
Whoever said the advent of the Federal Reserve, or the end of “hard money” standard courtesy of Richard Nixon, made catastrophic or systematically shocking events less frequent, probably should have their head examined. Tyler Durden, of ZeroHedge. Accompanying this: You don’t … Continue reading
Posted in Uncategorized
Tagged debt, economics, Federal Reserve, fiscal cliff, GDP, US
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The case for pessimism
For those hoping for a positive, upbeat post today, you’ll have to look elsewhere. The direction world leaders are heading doesn’t bode well – it seems each country is trying to out do its neighbours in repeating the mistakes of … Continue reading
