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Economic Bubbles And Market Crashes: Mises Interview With Joe Salerno
Carl Menger Center Board Member and Mises Institute Academic Vice President Joe Salerno is interviewed by Mises Institute President Jeff Deist in this weekend’s installment of the Mises Weekend interview series. Prof. Salerno discusses economic bubbles and market crashes.
Last Monday’s mini-crash in equity markets reminded many people of the dark days following the Crash of 2008. The 400 richest people in the world collectively lost $124 billion—at least on paper—in a single day. And the average investor may get tired of seeing his or her net worth take a nosedive every 7 or 8 years.
Here to make sense of market crashes is our own Dr. Joe Salerno. Why does the financial press fail to see monetary inflation as the cause of stock bubbles? Why is deflation portrayed as an enemy to be defeated, rather than a sign of a more productive economy? Why do even seasoned financial experts fail at timing the market? And are deflationary crashes actually the cure for a sick economy?
Listen to the full interview here…
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About Paul-Martin Foss:
Paul-Martin Foss is the founder, President, and Executive Director of the Carl Menger Center for the Study of Money and Banking, an Arlington, VA-based think tank dedicated to educating the American people on the importance of sound money and sound banking.
Prior to founding the Menger Center, Mr. Foss worked in the U.S. House of Representatives for seven years, including six years as Congressman Ron Paul’s legislative assistant for monetary policy and financial services, and one year as Deputy Legislative Director for Congressman Thomas Massie.
As Congressman Paul’s legislative assistant, he assisted the Congressman in his duties as Chairman of the Subcommittee on Domestic Monetary Policy by helping to develop hearing topics, agendas, and briefing Congressmen and their staffs on monetary policy topics. Mr. Foss also was responsible for the management of Dr. Paul’s monetary policy and financial services legislation, including the “Audit the Fed” and “End the Fed” bills, and was co-editor of Ron Paul’s Monetary Policy Anthology, a multi-thousand page compilation of hearing transcripts, lecture transcripts, and other documents related to Dr. Paul’s chairmanship.
Mr. Foss received his Bachelor’s degree from The University of the South (Sewanee), and Master’s degrees from the London School of Economics and Georgetown University’s Edmund A. Walsh School of Foreign Service.
This article appeared on the Carl Menger Center for the Study of Money and Banking and is reprinted with permission, “Creative Commons 4.0.”
Source: http://thenewsdoctors.com/economic-bubbles-and-market-crashes-mises-interview-with-joe-salerno/
