Saturday, October 31, 2009


"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
Why do I think we are going to get both? 

(Nod - I lifted the Mises quote from a comment on a Bruce Bartlett Forbes piece.)

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