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Depression Reading

June 1, 2010 8:15:16.852

Over the weekend I finished a depressing book - Vox Day's The Return of the Great Depression . Day doesn't have much patience for the Keynesian model of economics; in fact, there's a fairly extended discussion of the flaws (as Day sees them) in Paul Krugman's thinking.

You may not agree with Day's take on things, but one thing's for sure - it's quite different than what you'll see on CNBC, or just about anywhere else in business/economic reporting. What he says about debt and fiat currency makes a lot of sense to me (although I have no idea what the "right" answer is to the huge levels of debt that all governments seem to have acquired). Suffice to say that Day is not optimistic - the title of his book pretty much gives away where he thinks things are going.

He quotes Mish Shedlock a few times in the text, and I enjoy reading Mish's blog. If you want a non-mainstream take on how things are going, you'll get it from this book and from Mish. I think it's worth getting the perspective, even if you come away unconvinced.

posted by James Robertson

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