Sooner or Later

As Ludwig Von Mises said:

“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 a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”

The sooner a problem is dealt with the better; however, merely postponing a problem is not dealing with the problem.

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2 Responses to Sooner or Later

  1. fnunez says:

    That statement is absolutely true. What the government is doing is down right wrong.

  2. Thomas says:

    So, fnunez, what would a better alternative be?

    Doing nothing and letting credit market evaporate somewhat?

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