X-Message-Number: 31169
From: 
Date: Fri, 14 Nov 2008 15:06:41 EST
Subject: Ben Best provides another winner..., off topic if you conside...

In a message dated 11/14/2008 5:00:41 AM Eastern Standard Time,  
 writes:

And those of you who are wondering what caused
this financial crisis might  be interested to read
this  history:

http://www.benbest.com/polecon/buscycle.html#housing

-- Ben Best


I don't always agree with Ben Best.
 
However, I am in substantial agreement with this analysis of economics,  with 
it's free market and Austrian economics spin on history.  Ben's  analysis and 
details and references would probably be good enough for most grad  schools 
to consider it a Master's or PhD thesis in economic  theory.

Please don't think that recent events have repudiated basic free  market 
theory economics.
 
In contrast, the market distortions caused by Fed mediated lending, in  which 
the central bank sets and maintains artificially low interest rates, may  be 
one of the causes of the current crisis.  
 
Along, of course, with fiat based printed money, backed solely by goverment  
taxing and extortion policies.
 
Everyone these days seems to have opinions they will bore you with at the  
drop of a hat about the economic "crisis."  

But, IMO, Ben has provided a historical perspective much more well  informed 
than most.  

Of course, none of this may make a  difference.  Most of us feel dismayingly 
powerless regarding macro-economic  matters.  

Sorry for the off-topic post, but Ben Best is a pretty  smart fellow.  I'm 
glad he's on our side, trying to save our individual  lives...
 
Rudi

This is articulated and implied in both Ben's article/treatise  referenced 
above, and a 

 

Rudi Richard Hoffman CFP CLU  ChFC

Board Member Financial Planning Association fpafla.com
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