"There is no means of avoiding the final collapse of a boom brought about by credit (debt) expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit (debt) expansion, or later as a final and total catastrophe of the currency system involved."– Ludwig von Mises
Showing posts with label currency system. Show all posts
Showing posts with label currency system. Show all posts
Monday, October 15, 2012
Ludwig von Mises quote
Labels:
boom,
credit,
crisis,
currency system,
debt,
expansion,
final collapse,
Ludwig von Mises
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