"[Austrian economists] never identify [malinvestments] before the downturn." Neither, of course, do investors themselves! The _whole point_ of the theory is that no-one can tell where funds are being malinvested 'til the crash because easy money is distorting relative prices! 1/2

@fiat_money And if you really knew anything about Austrian economics, including Mises' and especially Hayek's work on business cycle theory, you'd know this. But you only imagine you know something because you can bleat an Austrian sound-bite or two.