Submitted by Tim Knight from Slope of Hope on 12/09/2012 19:55 -0500
From Slope of Hope: Well, my fellow Slope-a-Dopes, although this will undoubtedly be a dreadful decidedly devastating disappointment to many of you, I have chosen to put away my almighty artistically asinine alliteration pen for this Sunday's super significant spectacularly special EP. Instead of dazzling you with my proficient pathetically putrid pitiful prose, I will focus my alertly astute attention on a stupefyingly serious subject.
Ludwig Von Mises' Crack Up Boom.
For those of you not familiar with the term Crack Up Boom, John Nyaradi sums it up nicely
"In his writings, Ludwig argued in favor of free markets, capitalism and individual freedom and warned against the dangers of credit expansion, hyperinflation and governments using monetary policy to create artificial economic prosperity.
He argued that inevitably such actions would lead to inflation and then hyperinflation and finally to a place known as the “crack up boom” where everyone realizes that inflation is out of control and wants to get rid of paper money and get “real” things, no matter how much it costs to do that. In its most extreme incarnation, nobody wants paper money for anything and then the financial system collapses."
You may have noticed that I bolded the last line in the first paragraph above. The reason for this should be quite clear, as it precisely describes exactly where we are in the U.S. economy today. There can be absolutely no doubt, that the men currently conducting our Nation's fiscal & monetary train wreck, have entirely embraced the concept of monetary expansion, as the categorically correct antidote for our economic malaise. Be it via the continued increase in spending initiatives funded by further untenable public treasury debt burdens, or the outright multiplication of the money supply, our financial authorities have chosen to press on regardless, undaunted by the near total abrogation of any modicum of monetary or fiscal jurisprudence.
This from the departed Ludwig Von Mises in his own words:
"This first stage of the inflationary process may last for many years. While it lasts, the prices of many goods and services are not yet adjusted to the altered money relation. There are still people in the country who have not yet become aware of the fact that they are confronted with a price revolution which will finally result in a considerable rise of all prices, although the extent of this rise will not be the same in the various commodities and services.
But then, finally, the masses wake up. They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. A breakdown occurs. The crack-up boom appears. Everybody is anxious to swap his money against 'real' goods, no matter whether he needs them or not, no matter how much money he has to pay for them. Within a very short time, within a few weeks or even days, the things which were used as money are no longer used as media of exchange. They become scrap paper. Nobody wants to give away anything against them."
Are we there yet? No, thank God, but we are sure doing our utmost to get there, and are most certainly well on our way.
2012-08-07_0041In what can only
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http://www.zerohedge.com/contributed/2012-12-09/collective-conscious-crack-boomevil-plan-1010
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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