[quote=markmax33]EXACTLY – for most of our early years we didn’t have a central bank. Our rise was directly do to monetary policy. [/quote]
Again, extremely loose correlations does not equal a scientific rule. We also had wide open land, abundant with natural resources and a consecutive boom economy(cattle, gold, silver, railroads oil(the US was the saudi arbia of the 40s ). It was the industrial revolution. Making a comparison regarding a central banks positive or negative role in the economy is futile.
[quote=markmax33]
If the Austrian school of economics was able to predict the housing bubble and there was evidence of that, would you even listen to those guys? If the Austrians predicted the financial bubble, would you even listen to them? How many times do they have to be right before the event occurs to be empirical data? Please give me a number.[/quote]
I did not need austrian economics to predict and see the housing bubble.
