Ludwig von Mises Quote

"There is no means of avoiding the 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 or total catastrophe of the currency system involved."

by:	Ludwig von Mises (1881-1973) Economist and social philosopher
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Categories:	Crisis, Debt, Economics, Inflation, Money
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-- Mike, Norwalk
Yep! When this balloon finally pops, Professor Mises will look like a prophet. Trouble is: nobody in the Keynesian Camp listens to the wisdom of the ages. Cheers, B  -- bruski, naples FL      1
This is an example of a truism. It merely states an opinion. A few more sentences of justification or example are necessary to make this an aphorism... a micro essay that would be useful.  -- Walter Clark, Fullerton CA
Good heavens Walter, did you even read the quote ?  -- jim k, austin tx      1
Credit based economies are never wise. Usury will always run blind.  -- Ron w13, Or      1
An older friend says his economics prof said there are but three ways to attain wealth: win it, earn it or steal it. I've not spent a lot of time on analysis, but most of what I try to use to obviate the expression turns out to be a poor effort at best.  -- Bob Leavitt, Charlotte, VT      1
Our Keynesian economy is simply 'regulated catastrophe.' Someone has to get stuck with the hot potato, and those at the helm always make sure it is not them ...  -- E Archer, NYC      2
There is Old and ( Knew) money, never confused the two, Rule Number One ! They do operate with a different manor. They have the most confidence, education, and money can buy ! Every one else, are most tyrannical . The Kings and Queens are never up front, but just for show ! You lost the ground in 1865 !  -- Ron w13, Or      1
-- Mary, MI
-- jim k, Austin

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