Booms and Busts

A bizarre letter to the editor in the Business section of the Boston Globe:

James Grant writes in the New York Times today, on cue as

With the collapse in the price of sub-prime mortgage backed securities and credit derivatives, the credit boom has moved into the crisis phase.

The turmoil in financial markets is eliciting the usual response from the central bankers, all up there in their Hueys, ‘Die Walkuere’

The turmoil in the credit markets now emanating from the collapse of the housing bubble can be understood in the light of the theory of the busines

Recorded at Mises University 2007.

There is a new record setting skyscraper in the making in the Unit

A few comments on Jeff Hummel’s lengthy JLS review of Tom Woods’s

So when is the manure going to hit the fan? Schiff doesn't know, but "when the bubble is this big, there are just so many potential pins that it is impossible to guess which one it will find first."

Second Life's residents could benefit from a closer look into the actual workings of its economy, and the effects of economic intervention.