That hissing sound is the air rushing out of the mother of all bubbles, the credit bubble. No matter how much air (I mean newly created-out-of-thin-air money) the Fed and other central banks add to the balloon, it's still coming out fast (through that large hole in the side). As Mises, Rothbard, Duffy and the other Austrians have been telling us for awhile, money creation leads to disaster. It's going to be amazing watching Americans wondering the streets as they try to figure out what hit them.
To learn more, start with Rothbard's America's Great Depression. You also might want to take a trip to the local coin store and buy a few gold coins.
In a civilized society, should anyone or any government ever force anyone to do anything against his or her will as long as that person does not infringe upon the life, liberty, or property of another?
Sunday, October 14, 2007
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