The All Nighter Economy
Posted on August 25th, 2006 by Brad Spangler
I was reading Aubie Baltin’s well reasoned and dire warning, from an Austrian school of economics perspective, of economic hard times ahead, The Calm Before The Storm. I was struck by the following.
In the course of a business cycle, the economy moves through five phases:
- Falling interest rates, easy credit,
- An Investment boom,
- A Credit crunch & rising interest rates,
- Bad investment Liquidation & recession, and
- Stabilization , the beginning of the recovery phase.
Why, yes…
We have seen that before, haven’t we?
It really IS the five seasons of the Discordian calendar.
- Chaos
- Discord
- Confusion
- Bureaucracy
- Aftermath
Hat tip to Strike the Root.
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