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Tuesday, 3 June 2014

The Sign of a Very Unhealthy Economic Situation

...all prolonged market buoyancy and in general, all sustained, constant rises in stock-market indexes, far from indicating a very healthy underlying economic situation, stem from an inflationary process of credit expansion which sooner or later will provoke a stock-market crisis and an economic recession.
Jesús Huerta de Soto, 
Money, Bank Credit, and Economic Cycles, 3rd ed.