Podcast: What Austrian Economists Are Afraid To Tell You.
Posted July 30, 2024
Austrian Economics teaches that credit leads to economic booms and that all economic booms bust.
Prominent Austrian economists today warn that the United States has been experiencing a growing economic bubble for decades. And they prescribe Austerity as the only policy capable of returning the economy to a state of economic equilibrium.
What they don’t tell you – and are afraid for you to find out – is that the return to economic equilibrium would involve an economic collapse far worse than the Great Depression.
The US economy is built on $100 trillion of Credit. The consequences of the implosion of our $100 trillion Credit Bubble would be more akin to The Fall Of Rome than to the 1930s.
In a recent interview on Michael Gayed’s Lead-Lag Live podcast, I discuss how economic – and civilizational – collapse will play out if we make the mistake of implementing Austerity during the years ahead. I also propose a much better way forward.
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