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Booms and BustsBusiness Cycles
Taxes and SpendingBusiness CyclesInterventionismPolitical Theory
Big GovernmentStrategyBusiness CyclesPolitical Theory
Booms and BustsMedia and CultureBusiness CyclesPolitical Theory
Booms and BustsTaxes and SpendingBusiness Cycles
Booms and BustsMoney and BanksBusiness CyclesMoney and Banking
Central banks never recovered and "normalized" their balance sheets after the 2008 crisis. That means the current system is very fragile.
Mises made a distinction between credit that is backed by savings, and credit that is not. The second type plays a key role in the boom-bust cycle.