Iceland recovery supports Austrian School Economic Theory

The government did not bail out it's failing banks.  The recovery was painful but relatively quick.  The people of Iceland did not bear the brunt of the debts incurred by private institutions, as the Keynesians and Socialists have insisted upon in Europe and the United States.

Here is Daniel Hannan, blogging in The Telegraph.

Imprudent granting of credit is bound to prove just as ruinous to a bank as to any other merchant.

Ludwig von Mises.

Two excellent blogposts to check out.

This may be old school to some of you, but since this blog is new to me, maybe you've never seen it either.

www.zerohedge.com

Zerohedge is written by Tyler Durden  (the character name from the movie The Fight Club).  His articles are also seen on seekingalpha.com.

This guy blogs so often, it makes my head swim.  He is really smart, and very well informed.

Of particular interest to those of you who have been watching our wealth drain away by out of control government spending and purposeful devaluation of our dollars (read:  I make the same salary, but my money doesnt go as far), check out this blogpost of his dated the 27th, but linked to today at lewrockwell.com:

http://www.zerohedge.com/article/paralyzed-fed-defers-decision-monetary-policy-primary-dealers

This one blew my mind.  Between the election and the Fed meeting next week, we are truly witnessing significant history in the making.

Also at lewrockwell.com is an article today by Gary North, who has a knack for explaining complex economic issues in plain English.  I really enjoy his articles.  He has many great posts archived at LRC.

Today's entry is an article called "The Police State is doomed".

Great stuff, enjoy.