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"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
by carsongross 11y ago
"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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
https://mises.org/library/human-action-0/html/pp/818 https://mises.org/library/human-action-0/html/pp/818
- duderific 11y agoThere is absolutely zero political will for the voluntary abandonment of credit expansion. So, only the final catastrophe, the collapse of the dollar as the world's reserve currency, is the final outcome. It could be decades away however; there is just too much invested (literally and figuratively) in keeping the dollar afloat.