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Today I wanted to cover an analogy I have hit in the past to explain what's happening in the boom/bust cycle. One that sheds light on the fact that the imbalance is a fundamental element of the fractional reserve system, rather than an unexplainable flaw of humanity shrugged away by "animal spirits."
What do cars, tickets, and vacation plans have to do with the boom/bust cycle? Listen to find out!
"Rearden heard Bertram Scudder, outside the group, say to a girl who made some sound of indignation, “Don’t let him disturb you. You know,...
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