"There is no means of avoiding a 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."
- Ludwig von Mises

Friday, December 24, 2010

Merry Christmas and Happy Holidays

 "It's a Wonderful Life."  





2 comments:

Jim Slip said...

Merry Christmas.

China just raised it's interest rates.

Sorry, I couldn't resist. -)

Misthos said...

Thanks Jim, and happy New Year! I saw that too. It will be interesting to follow the US-China currency battle evolve.