Austrian Version of The Great Depression

Sep 072010

An interesting read on the Great Depression from an Austrian perspective. Something not taught in the whitewashed history books.

We are obliged to respect, defend and maintain the common bonds of union and fellowship that exist among all members of the human race. Cicero
The length and severity of depressions depend partly on the magnitude of the 'real' maladjustments, which developed during the preceding boom and partly on the aggravating monetary and credit conditions. Gottfried Haberler

Prosperity and Depression, 1937
A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned - this is the sum of good government. Thomas Jefferson
If you measure the stock market not in dollars but gold, it is down 80% since 1999. I no longer regard the U.S. dollar as a valid unit of account. People shouldn’t value their wealth in dollars because one day, in dollars, everyone will be a billionaire. Marc Faber
... it is very dangerous for an economist to seek fame and fortune and to work closely with political establishments, ... the most important trait of a good economist is the courage to say the unpopular thing. If you value your position and privileges more than truth, you will say what people want to hear rather than what needs to be said. Llewellyn H. Rockwell Jr.
Alliance - in international politics, the union of two thieves who have their hands so deeply inserted in each other's pockets that they cannot separately plunder a third. Ambrose Bierce

Thoughts On The Commencement of My Eighth Decade, read it here: http://t.co/Tc2XyIgs 8 hours ago
Impossibilities, Discontinuities and Black Swans, read it here: http://t.co/WJlExRgb 12 hours ago
I’m From The Federal Reserve and I Will Improve Your Life, read it here: http://t.co/qgeTD9kT 21 hours ago
Another Reason Why The Economy Will Not Recover, read it here: http://t.co/Fd3P0z19 2 days ago
The Universal Truth About Government Regardless of Its Form, Time or Place, read it here: http://t.co/I8JQIEAT 2 days ago
The law school bubble – At 50 law schools, 20% of the students are either unemployed, flunked out, or are http://t.co/bX397BCW via @addthis 2 days ago
What The First Few Minutes of World War III Will Look Like *Micro-Flim* http://t.co/P6vDfu5Z via @addthis 2 days ago
The 10th Amendment Nullification Movement by Michael Boldin http://t.co/yw60giDy via @addthis 2 days ago
The American Spectator : Caesar Overreaching Once Again http://t.co/R7Pc4auA via @addthis 2 days ago
Warmal Colding strikes Europe:kills hundreds; thousands trapped by "heaviest snow... ever recorded" http://t.co/EiJazYrJ via @directorblue 2 days ago

More "Brown Shoots": From today's collection of reads from Chris Martenson's site: Economy Hungary To Ask For 'Precauti...
Dangerous In-Breeding Amongst Financial Elite: Email from reader NII. He points out the inbreeding amongst the financial leadership of the world. T...
Economic Understanding as the Basis for Liberalism and Conservatism: "The single most important proposition in economic theory, first stated by Adam Smith, is th...
Poisonous Atmosphere and No Quick Fix: An interview with Ken Langone from CNBC who is concerned about the President's attitude toward busin...
Atlas Shrugs and Caesar Ignores: Atlas is shrugging. John Galt has his bags packed and his plane is warming up for a one-way trip. ...
Audit the Fed: Arguments regarding an audit of the Federal Reserve can be made pro and con. The quote below, from ...

Monty Pelerin's World