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The more these readjustments are delayed ... the longer the depression will have to last, and the longer complete recovery is postponed.
-Murray Rothbard
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The More These Readjustments Are Delayed ...

Murray Rothbard
The more these readjustments are delayed ... the longer the depression will have to last, and the longer complete recovery is postponed.
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Recovery Liberty Lasts

More From Murray Rothbard

We are having the single worst recovery the u.s. has had since the great depression. i don't care how you measure it. the east coast knows it. the west coast knows it. north, south, old, young, everyone knows it's the worst recovery since the great depression.
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But my activities have been pretty much focused in the last almost 30 years on the recovery, of my own recovery, the understanding for my family of my recovery.
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The real story in housing will be a recovery in the economy that will drive a recovery in housing, when people are working, when there are more jobs, more households forming and people go back to buying cars, they're going to want their apartments and homes. and that's when you'll start to see a recovery in home prices.
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Something went klunk. like a nickel dropping in a soda machine. one of those small insights that explains everything. this was puberty for these boys. adolescence. the first date, the first kiss, the first chance to hold hands with someone special. delayed, postponed, a decade's worth of longing--while everybody around you celebrates life, you pretend, suppress, inhibit, deprive yourself of you own joy--but finally ultimately, eventually, you find a place where you can have a taste of everything denied.
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The more the government intervenes to delay the market's adjustment, the longer and more grueling the depression will be, and the more difficult will be the road to complete recovery.
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You have a class of young strong men and women, and they want to give their lives to something. advertising has these people chasing cars and clothes they don't need. generations have been working in jobs they hate, just so they can buy what they don't really need. we don't have a great war in our generation, or a great depression, but we do, we have a great war of the spirit. we have a great revolution against the culture. the great depression is our lives. we have a spiritual depression.
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