Monday, July 6, 2009

No Amount of Stimulus Will Work... says Mish Shedlock (Cliff Küle M-AA*)... refers to recent comments by Economist Paul Krugman (Cliff Küle M-AA*) - http://krugman.blogs.nytimes.com/2009/07/05/what-didnt-the-vice-president-know/ - saying fiscal stimulus takes time..quotes Ludwig Von Mises on his view "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 & total catastrophe of the currency system involved"... http://globaleconomicanalysis.blogspot.com/2009/07/no-amount-of-stimulus-will-work.html

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