The Fed

"The very idea of a shortage of aggregate demand is absolutely meaningless."

Interest is a homogeneous phenomenon. There are no different sources of interest. 

The failures of the state are becoming obvious and folks are taking notice. It is our responsibility to vigorously thrust ourselves into the intellectual battle and relentlessly advocate for free markets and liberty.

"The Keynesian model can't capture the fact that during the boom period, society 'eats the seed corn' through malinvestment."

"We are in a frightening state of affairs, where the government feels the need to commit acts of aggression, through the use of tariffs and quotas, as means of 'economic defense'."

"These guys weren't just taking a position and keeping their fingers crossed, they had to keep feeding their bets, even when the financial world (and their investors) thought they were nuts."

By 2004 and 2005, he gave speeches exhorting Americans to buy adjustable-rate, interest-only and negative-amortizing mortgages.

"Zimbabwe's lush soil is the envy of all of Africa. The country is said to hold 80 percent of the world's platinum deposits and huge reserves of natural gas. And along with its rich natural resources, the Zimbabwean population boasts a literacy rate exceeding 90 percent. So what happened?"

Recorded from The Mises Circle in Phoenix, Arizona, April 10th, 2010. Sponsored by James M. Rodney.

Recorded from The Mises Circle in Phoenix, Arizona, April 10th, 2010. Sponsored by James M. Rodney.