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]]> By: Martin Brock http://cafehayek.com/2009/04/from-status-to-contract.html/comment-page-1#comment-45276 Martin Brock Wed, 15 Apr 2009 08:02:23 +0000 http://localhost/wordpress/?p=2384#comment-45276 <p>The Austrian theory of the business cycle seems to account well for the current "crisis", but we can't understand the crisis (or the Austrian theory of the business cycle) solely with reference to monetary policy generally and interest rates more specifically. Money is credit. People extend credit presently for future purposes. We overextended credit in recent decades, because baby boomers (who are really baby busters) want to retire as well as their parents. Ignoring the role of demography in this process is incredible.<br /> </p> The Austrian theory of the business cycle seems to account well for the current "crisis", but we can't understand the crisis (or the Austrian theory of the business cycle) solely with reference to monetary policy generally and interest rates more specifically. Money is credit. People extend credit presently for future purposes. We overextended credit in recent decades, because baby boomers (who are really baby busters) want to retire as well as their parents. Ignoring the role of demography in this process is incredible.

]]> By: Martin Brock http://cafehayek.com/2009/04/from-status-to-contract.html/comment-page-1#comment-45275 Martin Brock Wed, 15 Apr 2009 07:57:52 +0000 http://localhost/wordpress/?p=2384#comment-45275 <p>This forum rarely delves very deeply into economic fundamentals and practically avoids particular fundamentals altogether. It's mostly about politics, not economics.</p> This forum rarely delves very deeply into economic fundamentals and practically avoids particular fundamentals altogether. It's mostly about politics, not economics.

]]> By: vidyohs http://cafehayek.com/2009/04/from-status-to-contract.html/comment-page-1#comment-45277 vidyohs Wed, 15 Apr 2009 06:56:45 +0000 http://localhost/wordpress/?p=2384#comment-45277 <p>K,</p> <p>The economics of this thread has "done gone and passed us by." </p> <p>Have a profitable day. </p> K,

The economics of this thread has "done gone and passed us by."

Have a profitable day.

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