The crisis may change, but their answer will remain the same: the sacrifice of our freedom to the whims of would-be central planners. We must keep lit the torch that Ludwig von Mises has passed down to us.
There won't be a taper tantrum if the Fed seriously moves toward tapering. Investors now understand how the game works. Tapering doesn't actually mean the end of monetary inflation, and everyone knows it.
The popular pastime of modern democracies of punishing the diligent and thrifty, while rewarding the lazy, improvident, and unthrifty, is cultivated via the State, fulfilling a demo-egalitarian program based on a demo-totalitarian ideology.
It's too late for American member states to assert real independence from the central government without facing an avalanche of legal, political, and even military opposition. Europeans would be wise to not put themselves in a similar position.
Quantitative methods are indeed useful and enlightening in the fields of economic history and descriptive economics. For Mises, however, these fields do not fall within the field of economics, narrowly understood.