We have been talking about this for some time, (see posts here 1, 2, 3, 4). In this clip Bloomberg editor Tom Keene talks about the issue and raises some interesting points on the matter. Debt growth has retracted rapidly and deep, it is even greater than the contraction of the 70’s (see chart in the clip). There seems to be no private demand…. Cause for concern one would think!
What kind of man was Ludwig von Mises? As this unique film shows, Mises (1881-1973) was a man who never stopped fighting for freedom: not when the Nazis burned his books, not when the Left blackballed him at universities, not when it seemed as if statism had won. With courage and genius, he fought big government until the day he died in 25 books, hundreds of articles, and more than 60 years of teaching.
Mises’s battles against Communists, Nazis, and other socialists, are featured in this film, as are his ideas of Liberty. There is also the old Vienna he loved, the Bolshevik prime minister he dissuaded from Communism, and a cast of villains from Lenin to Hitler, as well as such supporters and students as Murray Rothbard, Ron Paul, Bettina Greaves, M. Stanton Evans, Mary Peterson, Joseph Sobran, and Yuri Maltsev.
Among his many accomplishments, Mises showed that socialism had to fail, that central banking causes recessions and depressions, that the gold standard is honest money, and that only laissez-faire capitalism is fully compatible with Western civilization.