World of finance

"There is no means of avoiding the final collapse of a boom brought on by credit expansion. The question is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

Ludwig von Mises, economist, 1881 - 1973.

1 comment:

Pablo Carpintero said...

By the way, von Mises is one of the "godfathers" of our ex-future prime minister to be.