“We are already inducing our next boom. So unwilling are our policy makers to address the malinvestment’s from the last recession, they are instead choosing to lurch from credit fuelled crisis to crisis. … In 1940, Ludwig von Mises wrote, ‘The popularity of inflation and credit expansion, the ultimate source of the repeated attempts to render people prosperous by credit expansion, and thus the cause of the cyclical fluctuations of business, manifests itself clearly in the customary terminology. The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression.'”
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