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The length, scale, and scope of such downturns are greatly expanded under a system of fiat credit expansion.
Financial MarketsU.S. EconomyBusiness CyclesCapital and Interest Theory
To understand what an inverted yield curve means, you must first understand what the yield curve is.
Booms and BustsBusiness Cycles
The negative consequences of expansionary monetary policies take a while to show up, but Deutsche Bank's collapse may be the first sign of failure.
Even if business people learn to expect easy-money caused bubbles and busts — this would still not prevent the formation of a boom-bust cycle.
Booms and BustsAustrian Economics OverviewBusiness Cycles
The “boom-bust” cycle is generated by monetary intervention in the market, specifically bank credit expansion to business.
Global EconomyBusiness Cycles
Creative design of statistics cannot solve the persistent crisis. The core of the problem lies in a misguided economic policy that zombifies the Japanese economy and thus undermines prosperity.
The world now has the impossible choice of permanently reduced productivity and slower economic growth — or the mass bankruptcy of a significant percentage of the economy.
Business CyclesMoney and Banking
So how about it, Mr. Powell? A real economy operates without ultra-low interest rates and activist central bank stimulus.
Financial MarketsBusiness CyclesMoney and Banking
What causes financial crises, domestic and global, is the underlying, continuing credit expansion.
Booms and BustsBusiness CyclesOther Schools of Thought
The Austrian story fits the facts of the housing boom—and bust—much better than the preferred narrative of Market Monetarists.