Booms and Busts

By 1715, the manipulation of the currency, the increase in public debt, and the mismanagement of state finances had left France in poverty and chaos. Such was the state of affairs when John Law appeared in Paris.

An unheralded work on the Austrian business cycle that rivals the work of the greats is Jesús Huerta de Soto’s Money, Bank Credit, and Economic Cycles, which outlines a multistate process of boom and bust. 

An unheralded work on the Austrian business cycle that rivals the work of the greats is Jesús Huerta de Soto’s Money, Bank Credit, and Economic Cycles, which outlines a multistate process of boom and bust. 

It should be clear by now that the unbacked paper money system is not only a cause of crises, it is also the central instrument of control for the oligarchic party elites and their supporters.

Professor Jonathan Newman joins the show for a look at America's Great Depression, Rothbard's classic explanation of a terrible period in US history.  It can happen here, and it can happen again, if Rothbard's counsel goes unheard.

Yes, it can happen here. Only a fool thinks otherwise.

The American economy could not recover from legislative onslaughts by both the Republican and then the Democratic administrations. Individual enterprise, the mainspring of unprecedented wealth, didn't have a chance.

Even when an economic bust appears, there may still be enough real savings in the economy to quickly put the economy back on track. This is what brings economic recovery, not artificial "stimulus."

Circa casino’s new three-story, 78 million–pixel, high-definition screen in its sportsbook gambling compound may represent a new frontier in mega–building trends similar to those of skyscrapers.

Even when an economic bust appears, there may still be enough real savings in the economy to quickly put the economy back on track. This is what brings economic recovery, not artificial "stimulus."