Monday, December 5, 2011

(Brushing it off) Like Lint

From The Kondratieff Cycle: Real or Fabricated? by Murray N. Rothbard (1984):

Time is inevitably running out on the Kondratieffites. For there will be no Big Bang, no repeat of 1929. Pointing to problems in the economy, to stagnation, to stagflation, to falling commodity prices, to secular rises in the unemployment rate, while interesting and significant is not enough. It does not demonstrate the Kondratieff. After all, there are always economic problems. The point is that there is no permanent depression, and there is not, and will not be, any deflation.

How many years will it take before everyone sees that there has not been and will not be a "fourth peak"? And without such a peak, there can be no cycle.


LiminalHack said...

I think rothbard is right the K-cycle is piffle. However the way he claims to demonstrate it is piffle to.

Double piffle scuffle.

The Arthurian said...

If we disagree on this, do we have a double piffle scuffle kerfuffle?

Jazzbumpa said...

It's not piffle. It's fluff.

So now we have a triple double piffle fluff scuffle kerfuffle )if it's not too much trouble.)


LiminalHack said...

"If we disagree on this, do we have a double piffle scuffle kerfuffle?"

I think we do.

I see your kerfuffle and raise with a poppycock**.

Your move.

** or as your comment captcha requires me to type in, a 'porkerbi'.

Lies, damned lies, and porkerbies!