"Conventional economists excuse and praise this system under the erroneous belief that expanding money and credit promotes economic growth, which is terribly false. It appears to do so for a while, but in the long run, the swollen mass of debt collapses of its own weight, which results in deflation, and destroys the economy. Only the Austrian school understands this fact. A devastated economy, moreover, encourages radical politics, which is even worse."
Bob Prechter - page 105 Conquer the Crash
"Choose your location well and remain watchful of world affairs, because wars often break out during or shortly after depressions."
Bob Prechter - page 262 Conquer the Crash
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