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Wednesday, 8 January 2014

Keynesian Folly And Irrational Apoplithorismosphobia

By Zerohedge.com

Hayek knew that avoiding the credit-created boom prevents the associated malinvestments and over-consumption while boom-bust cycles will be avoided through prevention or significant reductions in credit creation. Keynes, however, thought differently. Current Fed policy is a policy of illusion, or better yet, of delusion.

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