That isn't capitalism that is interventionism brought about about by central bankers. It is "fake capitalism".
Von Mises Institute is just more Lala land fake capitalists.
In contrast to the foregoing Von Mises was the real deal.
Sure free markets are great but lets see more free markets in real things not the financial crap such as derivatives that Wall Street pimps
The financial sector was hardly operating as a free market. It was all part of a bubble machine sanctioned by the central bank and pumped up by artificially low interest rates. The fractional reserve banking system was encouraged to extend credit and to pursue leveraged profits beyond all fiscal sanity. They were right in the sense that there was no real risk to bear - the government would backstop them.
There comes a point where the leverage cannot be built upon any further and the consequences of prior mis-allocations of resources wrought by artificially high credit are realized. The big difference between a recession and a depression is that this point has been reached, and the balance sheets of most public and private entities must be brought back in line, and deleveraging must occur. This is a correction. While painful it is necessary to rebuild on more solid ground.
What scares me is that this is going to be a depression coupled with a fiat currency collapse, with dangerous new global collusion schemes, and that there is no safe gold-backed money to flee to.