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As a long-time student of value investing and stock market cycles, I was in part blown away and in part disappointed when I first discovered Austrian economics back in early 2012. I was blown away as it dawned on me that this branch of economics answered the questions I had been carrying around for years. The disappointment was rooted in not having discovered it many years earlier.... Time is, as you know, scarce. But much better late than never.
Anyway, a few years back I started writing down my findings and interpretations in an effort to understand the material in depth and to connect the theories to the stock market. I realised soon that I might as well structure these writings in the form of a book. This book was published this morning on Amazon with the title Money Cycles - The Curse of an Elastic Money Supply.
The first part of the book addresses the properties of money and how they are created before explaining in detail how monetary aggregates can be compiled. The mid-section of the book describes the economic consequences of employing an elastic currency and contrasts this with what would be the case if an inelastic currency was employed instead. The final part of the book then attempts to connect the theories discussed and analysed earlier in the book with the business cycle and the stock market. Especially how the money cycle affects corporate sales, earnings, and stock market prices are revealed in detail. The book, some 580 pages in total, is at times quite heavy on theory and I hope readers will find that it is written in a straight-forward and comprehensible manner.