Tuesday, December 14, 2010

Something to Consider on the Economic Front...........

Will 2011 Be The Year The Von Mises Prophecy Comes True?

".....In that respect, there is something I think of as “the Von Mises prophecy,” which is a sort of one paragraph summation of Austrian thought — anchored to a prediction — as put forth by Ludwig Von Mises himself:

There is no means of avoiding the final collapse of a boom expansion brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.

The Von Mises prophecy can further be understood in the context of “exploding debt dynamics” (a highly useful term coined by an IMF staffer)....."

It was hard to pull a money quote out of this article and I'm not sure that was it. Take 5 minutes and read the whole thing. No, I still don't know where I stand in all of this and just what I ought to be doing differently.......... This is food for thought.
As I've said before, I ain't the guy to be getting financial advice from. I just note things and let you figure it out.

H/T - Clair Wolfe

Gratuitous Picture for Tuesday-


Links to this post:

Create a Link

<< Home