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Source link: http://archive.mises.org/14651/boom-crack-crash/

Boom! Crack! Crash!

November 16, 2010 by

Hazlitt not only has a clear and lucid writing style; of all economists who are gifted at writing for a popular audience, Hazlitt has by far the soundest grasp of his subject. Hence, he is able to put correct and even profound analysis into a highly readable style. FULL ARTICLE by Murray Rothbard

{ 6 comments }

David K. Meller November 16, 2010 at 1:31 pm

With a fanatic (no other description will do) Keynesian in the helm of the Fed, another fanatic Keynesian at the helm of Business writing at the New York Times, and a President who probably confuses M1 with his popularity ratings in public opinion polls, Henry Hazlitt is needed now more desperately than ever!

If you always do what you always done, you will always get what you always got!

For the record, you can’t BORROW YOUR WAY OUT OF DEBT!
You can’t SPEND YOUR WAY TO PROSPERITY!
and you can’t TAX YOUR WAY TO ECONOMIC RECOVERY!

President Obama,
PLEASE read (and thoroughly understand) Hazlitt’s books Economics in One Lesson and The Inflation Crisis and How to resolve it, and then tell Mr. Krugman and Mr. Bernanke to do likewise. If you–and they–continue on their current path, you won’t have much a country left to govern. Your Presidency’s name in history will be remembered and judged accordingly!

PEACE AND FREEDOM!!
David K. Meller

PS-Congressman Ron Paul of Texas can certainly help answer any questions. DKM

David K. Meller November 16, 2010 at 1:33 pm

With a fanatic (no other description will do) Keynesian in the helm of the Fed, another fanatic Keynesian at the helm of Business writing at the New York Times, Henry Hazlitt is needed now more desperately than ever!

If you always do what you always done, you will always get what you always got!

For the record, you can’t BORROW YOUR WAY OUT OF DEBT!
You can’t SPEND YOUR WAY TO PROSPERITY!
and you can’t TAX YOUR WAY TO ECONOMIC RECOVERY!

President Obama,
PLEASE read (and thoroughly understand) Hazlitt’s books Economics in One Lesson and The Inflation Crisis and How to resolve it, and then tell Mr. Krugman and Mr. Bernanke to do likewise. If you–and they–continue on their current path, you won’t have much a country left to govern. Your Presidency’s name in history will be remembered and judged accordingly!

PEACE AND FREEDOM!!
David K. Meller

PS-Congressman Ron Paul of Texas can certainly help answer any questions. DKM

Jesse Forgione November 16, 2010 at 5:18 pm

I mailed him a copy at the beginning of ’09 actually, but he doesn’t seem to have read it. ;)

I highlighted this passage for him though:

“Government-guaranteed home mortgages, especially when a negligible
down payment or no down payment whatever is required, inevitably mean
more bad loans than otherwise. They force the general taxpayer to
subsidize the bad risks and to defray the losses. They encourage
people to “buy” houses that they cannot really afford. They tend
eventually to bring about an oversupply of houses as compared with
other things. They temporarily overstimulate building, raise the cost
of building for everybody (including the buyers of the homes with the
guaranteed mortgages), and may mislead the building industry into an
eventually costly over-expansion. In brief in the long run they do not
increase overall national production but encourage malinvestment.”

RTB November 16, 2010 at 8:45 pm

As if he cares.

David K. Meller November 17, 2010 at 1:16 pm

Even if he doesn’t care, we are still on the record that he (along with Geithner, Bernanke, Krugman, et al) is NO LONGER FOOLING US! An ever growing segment of Americans are immunized against his demagogy, recognise the disease for what it is–and whom its carriers are–and are prepared to judge him, his Presidency, and his Government accordingly!His government, their “money” and his Presidency are losing legitimacy in the eyes of the taxpayers, because of his ignorance of what Hazlitt ( along with Rothbard, von Mises, et al) have to say. Maybe Obama is too simple-minded to care NOW, but as far as his second term goes–YOU BET HE’LL CARE!

PEACE AND FREEDOM!!
David K. Meller

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