Booms and Busts

"The discount of future goods as against present goods is a necessary and eternal category of human action."

As long as the money- supply rate of growth remains a positive figure, there can be no deflation.

If the dictator invests more and thus curtails the means available for current consumption, the people must eat less and hold their tongues.

Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.

The Mises Circle in Manhattan; 22 May 2010, New York, New York. PPT

"It's hard to be a contrarian. With the bubble in full bloom, the last thing you want to tell the boys at the club is that you have your money in cash or gold."

"There is a definite sense in which the government plays by a different rulebook, because the central bank waits in the wings to monetize its debts."

The whole entrepreneurial class is in the position of a master builder whose task it is to erect a building out of a limited supply of building mat

It is likely that with the bailout of Greece we have already passed this point of no return.

"The only possible solution to the inflation problem is an open opposition to the unions and to the idea that higher money wages are the only means for improving the condition of the masses."