Mises Wire
Author:
Brendan Brown
Online Publish Date:
change and globalization. The result; monetary inflation in the asset markets (credit, real estate, in particular) developed in a virulent form (including operates with a long and variable lag. And by Spring 2007 the signs of credit market pull-back were multiplying; then a first crisis of illiquidity erupted in consequences; the extent of these will be a direct consequence of society’s failure, and in particular the political system’s failure, to confront the monetary