September 22, 2008

Ah Ludwig, you were right

“There is no means of avoiding the final collapse of a boom brought about by credit expansion.”

- Ludwig von Mises
(1881 – 1973)
Austrian Economist, philosopher and a major influence on the modern libertarian movement

I guess that says it all about the U.S. economy, ey? Dontcha worry my fellow Pinoys, the remittances of our parientes abroad will save our economy yet.

Good morning pow.

No comments: