Quote note (#141)
Just to keep Kgaard maximally wound-up (and therefore indirectly troll everybody else on the blog), Jim Quinn navigating amid a flurry of Mises quotes:
Booms brought about by credit expansion ALWAYS end in a contractionary bust. It’s just a matter of when. The level of mal-investment in Japan, Europe, China and the U.S. during the boom created by central bankers is almost incomprehensible in its scale of absurdity. The only beneficiaries have been bankers, corporate insiders, politicians, and shadowy billionaires hiding in plain sight. The illusory boom has already impoverished the working class and the coming bust will invoke civil unrest, social chaos and war.
(I’m in Singapore until the 9th, so erratic online activity until then.)