LUDWIG SUMMED IT ALL UP IN A NUTSHELL MANY DECADES AGO, BUT NO ONE PAID HIM ANY ATTENTION

There is no means of avoiding the final collapse of a boom brought about by credit (debt) expansion.

The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit (debt) expansion, or later as a final and total catastrophe of the currency system involved.


FROM THE THEORY OF MONEY AND CREDIT– Ludwig von Mises