Murray Rothbard Quotes

If one wants to avoid the recurrence of economic crises, one must avoid the expansion of credit that creates the boom and inevitably leads into the slump.

The president has very little effect on the economy. If you want to put blame or credit, the main person who influences the business cycle is the head of the Federal Reserve Bank.

Listen, I wish economic growth only went in one direction. It doesn't. There are economic downturns. They're painful, they're harmful, and they hurt families.

No President has yet repealed the business cycle.

Every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.

The higher interest and higher inflation is a vicious cycle.

Bond investors want growth much like equity investors, and to the extent that too much austerity leads to recession or stagnation then credit spreads widen out - even if a country can print its own currency and write its own cheques.

We're in a tightening cycle and the reason is the economy is growing, there's no expectation that the global economy and the Polish economy as a consequence could slow down dramatically.

The Fed is the biggest enemy of this economy. In fact, Ben Bernanke, as far as I'm concerned, he's public enemy No. 1. We're never going to have a recovery while this guy's in charge.

Investors should be cautiously positioned as the global economy and markets face major uncertainties. The downgrade will be a further headwind to growth and job creation in the U.S.

Not every business cycle has a financial crisis. Frequently they do.

Long before folks fretted the demise of 'quantitative easing,' I fretted its existence. It proved the reverse of its image, an antistimulus, and we've done okay not because of it, but despite it.

The worst failures of the Federal Reserve have come from waiting too long tp tighten monetary policy during expansions, not from loosening it too much during recessions.

Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.

As 'Austrian' business cycle theory has pointed out, any bank credit inflation sets up conditions for boom-and-bust; there is no need for prices actually to rise.

When inflation begins to rise, that's a situation we know how to deal with. When the economy is not doing well, and we're stuck at zero, that's one we don't know so much about - or we know about it that it's bad.

Monetary policy causes booms and busts.

During the slow recovery after the Great Recession, inflation was very low, and it took us a while to get it back moving up.

The foundations of a strong economy don't rest alone on the decisions of Chancellors or the spending programmes of government.

Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves.

During the past two decades, inflation has fallen to a low level in major industrial countries.

If the Federal Reserve pursues a strong dollar at home while the dollar becomes more competitive in global markets, we can achieve both price stability and a more balanced path of economic growth.

The Federal Reserve cannot solve all the economy's problems on its own.

Inflation is not always the main problem, or indeed a problem at all. Sometimes, though rarely, deflation is a more serious threat, and we need to shelve many of the orthodoxies we have held so dear.

It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.