Why do booms, historically, continue for several years? What delays the reversion process? The answer is that as the boom begins to peter out from an injection of credit expansion, the banks inject a further dose. In short, the only way to avert the onset of the depression-adjustment process is to continue inflating money and credit. For only continual doses of new money on the credit market will keep the boom going and the new stages profitable. Furthermore, only ever increasing doses can step up the boom, can lower interest rates further, and expand the production structure, for as the prices rise, more and more money will be needed to perform the same amount of work. Once the credit expansion stops, the market ratios are reestablished, and the seemingly glorious new investments turn out to be malinvestments, built on a foundation of sand. [It] is clear that prolonging the boom by ever larger doses of credit expansion will have only one result: to make the inevitably ensuing depression longer and more grueling.... The way to prevent a depression, then, is simple: avoid starting a boom.
THE NATIONAL-SECURITY STATE AND
THE KENNEDY ASSASSINATION
The national-security establishment’s assassination of President John F. Kennedy was one of the pivotal events in our lifetime, and it continues to have an adverse impact on American life today. This conference will be oriented toward people who are not well-versed in the assassination and who wish to gain a deeper understanding of it.
April 7, 2021 Repeal MLB's Antitrust Exemption? GOP leaders in Congress are threatening to enact a law will end Major League Baseball’s exemption from the Sherman Antitrust Act. The reason is that MLB has announced that it is cancelling its plan to hold its All Star Game in Georgia as a protest against the state’s new electionlaw, which liberals claim restricts voting rights of blacks....
The UBI, CTC, EITC, and the GOP
by Laurence M. Vance
Writing in the Wall Street Journal, Robert Doar and Matt Weidinger, two scholars at the American Enterprise Institute (AEI), a conservative ...
The JFK Medical Coverup
by Douglas Horne
This talk is part of our ongoing webinar “The National-Security State and the Kennedy ...
To End Budget Deficits, Restrict Political Pickpockets
by Richard M. Ebeling
Government spending is out of control. In March 2021, the Congressional Budget Office (CBO) projected that federal government spending in fiscal ...
