‘There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.’ – Ludwig von Mises
Stock Market Update: The Impacts of War
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As hostilities broke out in the Middle East, markets were initially rather
resilient. This resilience was likely supported by the view it could be a
shor...
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