Monday, January 21, 2008

And So it begins...

FTSE 100 has record fall on recession fears

Whoops! What we need now to stem our fears is to inject some more liquidity. Oh bugger. We've already done that. So what do we do now?

Well, you could a lot worse than reading the monumental Money, Bank Credit, and Economic Cycles written by the man who deserves to become the world's economic saviour, Jesús Huerta de Soto.

And judging by what he's written in this gargantuan treatise, given the sheer astronomical amounts of paper scrip that have been printed by central banks in the last ten years, to stave off recession, the free market of human needs is about to deal this corrupt practice one helluva correction.

Stand by your beds.

And if you have any room in your organisation for a self-employed travelling chancer, who knows a bit about derivatives, Austrian economics, and how to drink expensive coffee in a wonderful shop called Manon, then please help him out. Because I think he's about to find work rather hard to come by. It's either that or McDonalds again! :-)


Anonymous said...

Jack, whenever you are in trouble please remember that we will always have a place for you here in the Bank of England. We need as much help as we can get to keep printing money. ;)

Jack Maturin said...

I have this recurring nightmare where my family is facing starvation and the only 'lifeline' is a government job (e.g. Austrian economics adviser and print machine handle turner at the Bank of England). Thankfully I always wake up before I see myself signing on the dotted line! :-)