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Dark Clouds over Auburn

Tags: Business Cycles, Capital and Interest Theory, Money and Banking, Booms and Busts, The Fed
Mises Wire Mark Thornton
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I have lived in Auburn, Alabama, for more than three decades and have never seen a super-sized construction crane here. Last week two were erected in the middle of town.

One is being used to build a seven story building for retail, apartments, and parking. The other is on the Auburn University campus and is being used to build something in front of the University library.

This just continues the story I wrote about late last year about how college town construction manias are just the small town manifestation of the skyscraper curse.

The third photo shows the crane for the retail and apartments in the foreground and the one on campus in the background, less than one mile apart.

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