I see a lot of folk complaining about Austrians predicting hyperinflation, but these same folk don't seem to mind that mainstream economists predict that the Fed will end the business cycle.
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Replying to @Alrenous
I looked through the data on this a few years ago. The average span between recessions before central banking was about 4 years. Now it is about 6 years, but the recessions that do occur are about 75 percent worse.
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Replying to @NullusMaximus
Yes. And that's just the official stats. Not to mention that pre-Fed wasn't really private banking, any more than America has private medicine.
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Replying to @Alrenous @NullusMaximus
Also the notion that a "downturn" is something to be avoided in principle exhibits zero comprehension of anything. ...
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... "Cutting out the crap is still cutting, so it's bad!"
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... The Keynesian snake-oil that we can have all the benefits of capitalism without any need for a garbage disposal mechanism should be comical. ...
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... But democracy is defined by it's lack of a sense of humor.
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Replying to @Outsideness @NullusMaximus
The economy should never have to take out the garbage everywhere at once, but under government 'regulated' banking, it does.
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