Money and Banks

An overheating economy emerges once expenditure rises without being backed up by production, a situation that emerges when the money stock is increasing.

Recessions grow out of government and central-bank interventions that direct resources away from true wealth generating activities — and toward bubble activities.

Conflating "inflation" with a general rise in prices prevents understanding the true problem with inflation. 

Special powers to inflate the money supply — granted by the state — make banking unlike other private industries.