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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: PAST who wrote (31252)6/2/2005 4:49:49 PM
From: Elroy Jetson  Read Replies (2) of 116555
 
The following comment illustrate that Milton Friedman has chosen to not understand economics, or more likely has his own motivations for lying.

"Deficits are the only thing that keeps this Congress from spending more" says Friedman.

Milton Friedman knows perfectly well that deficits do not curb governmental spending.

The government can eliminate income taxes and all other explicit tax levies - and still continue to spend ever larger amounts of money on credit by utilising the Monetarist Tax which devalues currency.

This is why Milton Friedman has long been known as "The politician's pal".
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