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Job Market 2009

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There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises

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That's hilarious. I've seen really bad job markets, in 1972, the early 1980's, and the early 1990's. Hey, that looks like a 10-year cycle. I didn't see it in the early 2000's, and when something cyclic like that is delayed it tends to be worse when it does come.

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