Human beings are… of two persuasions
the first would spend tomorrow what they earn today
the second would spend today what they hope to earn tomorrow
From this…arise all conflicts that lead to economic crises
to panics, depressions, violent and revolutionary transfers of wealth
and perhaps most wars
Freeman Tilden
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 abandonment of credit expansion
or later as a final and total catastrophe of the currency system involved
Ludwig von Mises
No comments:
Post a Comment