Friday

Friedman spent his life speaking of the flaws of too much Gov't intervention the markets (Video)

-Posted by D.C. Worth, for Barbay (France/US)

The video (below) asks what University of Chicago champion of monetary discipline, Milton Friedman, would do today... As "Obamanomics" produces an endless stream of bailouts; and failure to address the deeply flawed "civil-rights Mortgage" policy; now pushing home values into decline...


Shock... Wessel seems to think Friedman would've favored QE2! ...Given the overall economic picture... [NO WAY!]

10 years ago, [Friedman said] there's "No Third Way to the Market."
He spoke of... "Tyranny of the Status Quo" as the major reason that political mechanisms are so much less effective than free-market mechanisms in encouraging dynamic change, and in producing growth and prosperity." #
His well-known "Free To Choose" comes to mind; as today's Americans do not have the Freedom to prevent Government's action!
Video examines Freedom Not To Act...


Here's Friedman speaking of Government, trying to "right a situation" which must then, be forced upon the people...


QE2, bank bailouts, stimulus for Banks, pulls money OUT of the economy... Forces the people to repay; thus reduces private surplus, and inhibits job creation...

His words (in part)...
"(---) much danger that such a policy may make matters worse rather than better…The basic difficulties and limitations of monetary policy apply with equal force to fiscal policy. [Read]





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