The Hidden Ruin Beneath the Boom

Why Government, Fiat Currency and Easy Credit Always End the Same Way

“Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works”.

John Stuart Mill wrote that in 1848. His line was meant for the Victorian age. It fits the present day with uncomfortable precision.

For more than a decade the public have been told that prosperity re…