The “crack-up boom” is a term Ludwig von Mises used in Human Action (1949) to describe the final stage of inflationary money printing and credit expansion. 1. Endless money printing When governments and central banks try to avoid economic corrections by continuously expanding the money supply, prices rise. At first, people may still think prices will stabilize. 2. Collapse of confidence Eventually, the public realizes the currency will keep losing value. At that moment, inflationary psychology flips: people no longer want to hold money because they expect it to depreciate rapidly. 3. Flight into real goods Everyone rushes to exchange money for anything real—stocks, real estate, commodities, foreign currencies, etc.—simply to escape holding a currency that is melting down. This is the “boom” phase, but it’s not a healthy boom. It’s a panic buying spree. 4. Destruction of the currency The crack-up boom ends with the complete breakdown of the monetary system—hyperinflation and collapse of the currency as a medium of exchange. Mises’ phrasing: the breakdown of the currency system due to the public abandoning money in favor of goods. In short: a crack-up boom is the terminal stage of inflation where money dies because people lose trust in it. Conclusion: Buy Bitcoin.(Joe Burnett, MSBA)