Ronald Stöferle et al. on Austrian School adherents who predicated the collapse of the 1920s boom

The Great Depression was predicted by several economists of the Austrian School: in Austria, Ludwig von Mises recognized the problem when it was still in an early stage of its development, and told his colleagues in 1924 that the then largest Austrian bank, Creditanstalt, would ultimately become insolvent. Friedrich August von Hayek published several articles in early 1929, in which he predicted the collapse of the US economic expansion. Felix Somary uttered numerous warnings in the late 1920s. In the US, the economists Benjamin Anderson and E.C. Harwood warned that the monetary policy of the Federal Reserve would lead to a crisis. However, as was Somary, they were widely ignored.

~ Rahim Taghnizadegan, Ronald Stöferle, Mark Valek and Heinz Blasnik, Austrian School for Investors (2015), p. 62