Wednesday, May 20, 2009

Quote of the Day - This Guy Has It Right

This is what I have been saying in conversations and in my letters for months. 6 months ago I liked to ask the question, can you change the inevitable. You can change the way the inevitable looks, but can you really change the inevitable. Of course from a philosophical standpoint, if it is inevitable, you can't change it.

“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative 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

Ludwig was a famous Austrian economist who died in 1973.

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