Mises Wire
Author:
Jeff Deist
Online Publish Date:
Bear Stearns, AIG, Fannie Mae & Freddie Mac, and Lehman Brothers, not to mention Europe’s sovereign debt crises, was all entirely predictable, and in fact inevitable. It all lay at the feet of the Federal Reserve Bank, European Central Bank, Bank of England, Bank of Japan, and other profligate bad the whole 20th century by failing to predict the collapse of the former Soviet Union. They neither foresaw the collapse of the USSR’s planned economy nor understood