-
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
Categories
- Economics in One Lesson (4)
- Uncategorized (126)
Archives
- March 2014 (2)
- January 2014 (2)
- November 2013 (1)
- October 2013 (1)
- August 2013 (2)
- July 2013 (2)
- May 2013 (3)
- April 2013 (4)
- March 2013 (6)
- February 2013 (7)
- January 2013 (12)
- December 2012 (2)
- September 2012 (1)
- July 2012 (1)
- June 2012 (4)
- May 2012 (3)
- April 2012 (11)
- March 2012 (8)
- February 2012 (7)
- January 2012 (16)
- December 2011 (9)
- November 2011 (7)
- October 2011 (9)
- September 2011 (10)
Twitter
- Kept in the dark wp.me/p1O9ar-c0 5 years ago
- What has the MPC got to hide? wp.me/p1O9ar-bP 5 years ago
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
Leave a comment
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
Leave a comment
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
