Misean economics

In its simplest explanation Misean economics, or the Austrian School, if you will, is all about not forcing nature.  The school's biggest complaint is about the Fed's propensity to manipulate the money supply, as it has since the '07-08 financial meltdown.  Shostak, a Misean economist, argues here against the recent policy of the Fed to pump all kinds of dollars into the economy while dropping interest rates to zero in order to prop up the various bubbles that were created dating back to 2002 when the central bank dramatically loosened the money supply creating the credit boom which created the mother of all housing/real estate booms.  Miseans say no good will come from this policy as what needs to happen is a purging of all the wasteful investments made during the easy money of the early 2000's in order to get back to sound investments made with real savings, not phony credit.  These Miseans have been more right than wrong in calling turns in the economy dating back to the Great Depression.