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no wonder we are screwed up. if mr. Driscoll thinks that bubbles can be prevented by going to a backed currency i have a bridge to sell him in brooklyn. i would like to remind Mr. Driscoll we were on a gold standard in 1929.
Nov 19 04:04 am
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All Comments by Steven Hansen »Surprising Call for Return to the Gold Standard [View article]
i too fear the boom/bust cycle. it will come from energy if the economy lights up again as we will not have had enough time to implement alternatives (if we have not forgotten about this subject totally by then).
bubbles are part of capitalism.
whether the currency is backed or fiat, the problem we are faced today are politicians and bureaucrats who are acting irresponsibly while they are administering our financial system.