• Austrian economics invariably predicts gloom and doom as a result of policy intervention, which by definition create “artificial” booms and bubbles.
• Events on the ground have forced even some of its proponents to now admit that these can last much longer than many thought.
• However, we don’t need the Austrian perspective for that insight, and we find it full of ad hoc explanations and fuzziness.
• We don’t think it offers actionable insights for investors, and those doing so would have had a pretty difficult decade.

Source: The Unending Artificial Boom | Seeking Alpha