The Man Who Predicted the Recession

[Kevin_Kennedy]

Ludwig von Mises was snubbed by economists world-wide as he warned of a credit crisis in the 1920s. We ignore the great Austrian at our peril today.

Mises's ideas on business cycles were spelled out in his 1912 tome "Theorie des Geldes und der Umlaufsmittel" ("The Theory of Money and Credit"). Not surprisingly few people noticed, as it was published only in German and wasn't exactly a beach read at that.

Mark Spitznagel: The Man Who Predicted the Depression - WSJ.com

As you can see the Austrian school of economics has a proud history of predicting that which "mainstream" economists can't fathom. Why do we look to these same failed economists to lead us out of a recession they couldn't see coming time and time again?

Keynes failed, Greenspan failed, Bernanke failed, Paulson failed, Geithner failed, Krugman failed, and on and on. The Austrians, however, were right all along. Mises was right back then, and Ron Paul and Peter Schiff were right in our own time.

Why don't we quit making the same mistakes over and over?

Ludwig von Mises Institute - Homepage

 

[garyd]

Anyone with half a brain knew this was coming soon after the Dems got control of congress and they got control for two reasons first the bogus notion that only the REpublicans were currupt and 2nd that of two candidates, one whois promising you the whole store and one who says he'll only give you half, the majority will go with the former.

 

[Kevin_Kennedy]

Anyone with half a brain knew this was coming soon after the Dems got control of congress and they got control for two reasons first the bogus notion that only the REpublicans were currupt and 2nd that of two candidates one whose promising you the whole store and one who says he'll only give you half the majority will go with the former.

This was in play years before the Democrats took over Congress.

 

[garyd]

The housing bubble has been building since WWII. The Dems have held one or both houses of congress for around sixty of the last seventy years.

 

[Kevin_Kennedy]

The housing bubble has been building since WWII. The Dems have held one or both houses of congress for around sixty of the last seventy years.

The housing bubble has only been building since Greenspan decided to fight the dot-com bust by keeping interest rates at 1%, setting us up for the inevitably worse bust that we saw take place last year.

 

[garyd]

Nope the housing Bubble first began to grow under the impetus of the first GI Bill Post WWII all anything did after that was bring the bubble ever closer to bursting.

 

[Kevin_Kennedy]

That's simply not correct and allows for an overly convenient excuse for Republicans to try to pass most of the responsibility off to Democrats.

 

[Douger]

The housing bubble has been building since WWII. The Dems have held one or both houses of congress for around sixty of the last seventy years.

The housing bubble has only been building since Greenspan decided to fight the dot-com bust by keeping interest rates at 1%, setting us up for the inevitably worse bust that we saw take place last year.

And now they are zero %.
Wanna guess the future ? HINT. It aint pretty.
I setup my move when the Idiot, Dubya, grandson of Nazi, was s elected THE FIRST TIME.

Remember this one " We'ra gunna make sure every wunna them thar Amurkins has a chance to own their own home and realize duh Amurkin dream ?

Even my idiot kids fell for that and went for the interest only "dream"
They both lost lost their homes.
They were warned.
They're right up there with the other who knows how many millions of brainwashed idiots kicked out of a house for the very same reason.
They wanted to be bigshots before earning enough to be bigshots.

I had one mortgage in my life. 12 grand over the 130 I had saved to put down ,back in about 1984. Paid it off in two years and haven't borrowed from the mafia since.

Like Carlin said " They call it a dream cuz you'd have to be asleep to believe it"
Now everyone is waking up. The biggest robbery in the history of the planet took place and nobody noticed. They're finishing the cleanup right now !

OMG OMG . Britney shaved her beaver ! OMG Wheeeeeeeeeeee !
Idiocracy.