Thursday, April 5, 2012
Austrian Economics: Rarely Correct, Always Hysterical
In lieu of the hysterical, paranoid, evidence-free rants I have subjected myself to in an effort to understand "hard money" believers and their hard-on for returning to the Gold Standard, here is a response to the hysteria. Reading the Austrian/Gold-bug material is like reading the early American sermons of people like Jonathan Edwards (no, not this dick). Fevered religious nonsense, based on magical thinking and a deep misunderstanding of how the world actually works.