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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: Keynesianism
The Bank of England must share the blame for the cost of living
Many central banks now have “inflation targets” that they are required to meet, and such targets are set by the government. For the Bank of England, this target is 2%, and is based on the Consumer Price Index (CPI). Some … Continue reading
Posted in Uncategorized
Tagged Austrian economics, Bank of England, central banks, economics, Federal Reserve, inflation, Keynesianism, monetarism
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Quote of the Day
The central banking branch of the state remains hostage to Wall Street speculators who threaten a hissy fit sell-off unless they are juiced again and again. Monetary policy has thus become an engine of reverse Robin Hood redistribution; it flails … Continue reading
Posted in Uncategorized
Tagged 1 percent, Austrian economics, david stockman, economics, Keynesianism, wall street
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Kamikaze Keynesianism
A quick three minute video by Citywire (free!) explains the view of a Norwegian bond fund manager who is rather skeptical of trying to “stimulate” an economy by borrowing. Torgeir Høien, manager of Skagen Tellus, is blunt about the matter, “it won’t work”. Why not? … Continue reading
Posted in Uncategorized
Tagged asset management, economics, japan, Keynesianism, Quantitative easing
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How did Paul Krugman win a Nobel Prize?
Paul Krugman clearly decided to go one better than his previous suggestion that an alien invasion would help us get of our current economic slump, and is now suggesting the US Mint creates a $1 trillion dollar coin in order … Continue reading
Do we ever need to create more money?
Today, all mainstream schools of economics believe in the need to create more money in order for the economy to grow. Keynesianism Keynesians tend to favour money creation during times of recession, to boost “aggregate demand” – roughly speaking, the … Continue reading
Posted in Uncategorized
Tagged Austrian school, Bank of England, central banks, economics, gold standard, Inflation targeting, Keynesianism, monetarism, money
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