Mish Says Something Possibly Misleading

I have been recommending Mish Shedlock for solid analysis and recommendations of how to navigate these stormy economic seas. He is spot on continuously, mainly because he is infomed by the Austrian school of economics.


I cannot think of a worse time in history to be starting a business.

Mish is a securities analyst, which means his bailiwick is registerd corporations, essentially big business. Mish well understands a key feature of any bust is excess capacity. Big business, properly understood, has the job of lowering costs and widening acces to material goods and services. With so much excess capacity, and prices falling from deflation, more big business with more capacity is hardly necessary.

Mish is such a big shot now he is unreachable by mere mortals such as me, but I suspect if I argued it is a great time for self-employment and starting up a new small business, he would agree heartily. In fact, I believe he would agree that a major part of the recovery will coome from the effortsw of small business to fill in the voids left from the coming crash.

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