Pittsburg, Kansas | The mistakes have already been made. Now it is just a matter of how it plays out.
Mises said the only way to avoid what he called the crack up boom (extreme inflation causing a loss in confidence in the money) was to voluntarily abandon money expansion.
Volker force abandoned the money expansion with high interest.
Neither path is good. But the loss in confidence of the currency is a lot worse. Better to feel the pain sooner and get it over with before it completely destroys businesses and society that can happen with the loss of confidence in the nonetary system.
Supposedly the Fed is tightening..................but are they really? Mostly making a lot of noise about tightening, but not really tightening.
https://fred.stlouisfed.org/series/M1SL
Edited by John Burns 4/20/2022 07:27
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What if the fed doesn't get inflation under control
