>
> On Oct 21, 2010, at 11:35 PM, Jeffrey Fisher wrote:
>
> > Maybe I wasn't clear about this, or maybe it's an obnoxious question, and
> I
> > should just go read the book, but I'm not sure that would help me. I'm
> > trying to understand, *if* the guy accurately predicted the bust, do we
> have
> > a way of explaining how his paradigm is wrong but his results were right
> > (this time)?
>
> I'll be charitable and say that Austrian economics has a point or two.
> Extended credit booms end in sadness. But where I think they're wrong is
> seeing deficit spending in a bust like this as also inflationary. He
> sees/they see no risk in deflation - recall that he said that deflation is a
> good thing. That's bonkers.
>
> Doug
>
This is what I was looking for. Thanks. And I agree (re: Austrian economics).
j