The answer lies in audacious economic reforms that favor markets and entrepreneurs: liquidate bad investments, let deflation happen, cut government spending, cut taxes, let wages fall.
An unheralded work on the Austrian business cycle that rivals the work of the greats is Jesús Huerta de Soto’s Money, Bank Credit, and Economic Cycles, which outlines a multistate process of boom and bust.
It should be clear by now that the unbacked paper money system is not only a cause of crises, it is also the central instrument of control for the oligarchic party elites and their supporters.
Even when an economic bust appears, there may still be enough real savings in the economy to quickly put the economy back on track. This is what brings economic recovery, not artificial "stimulus."
Even if the central bank were to be successful in preventing the fall of the money stock, this would not be able to prevent a depression if the pool of real savings is declining.
Circa casino’s new three-story, 78 million–pixel, high-definition screen in its sportsbook gambling compound may represent a new frontier in mega–building trends similar to those of skyscrapers.
What matters is not whether the emergence of a bubble is associated with price rises but rather the fact that the emergence of a bubble gives rise to nonproductive bubble activities.
America today confronts an unprecedented crisis. Our economy is collapsing, and the fake coronavirus “epidemic,” with its draconian restrictions, is destroying our liberty. What can we do?
