Booms and Busts

We cannot eat money. We cannot wear money. We cannot live in money. Money can't buy you love.

The balanced budget passed away definitely in 1911, not to return again until a revolution had swept from the people of Italy their freedom, writes

All of the industrial world's central banks and public treasuries currently are engaged in an impossible exercise.

Home prices peaked five years ago, but a mountain of foreclosures still looms.

Political upheaval has hit Finland, and it's merely a foreshadowing of bigger changes ahead.

Mansharamani uses the work of Roger Garrison and other Austrians to great effect. <a href="http://store.mises.org/Boombustology-Spotting-Financial-Bubbles-Before-They-Burst-P10464.aspx">Buy this book in the Mises Store.</a>

From Part IV: Mises in His Prime.

Narrated by Paul Strikwerda.

Lord Keynes was constantly worried that people were saving too much and consuming too little — thus the need for more and cheaper money to stimulate the economy. Mr. Bernanke is nothing if not a good Keynesian, and his low rates make even the savviest question whether to forgo consumption.

The fake version of history says that without a central bank or its lesser cousin, a national bank, we had nothing but boom, bust, and sorrow — but since the creation of the Federal Reserve System, it's been nothing but sunshine and lollipops. Let us take a look.