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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Elroy Jetson who wrote (101230)2/12/2009 9:39:43 PM
From: bart13  Read Replies (2) of 110194
 
That's not what Friedman said:

“...different and feasible actions by the monetary authorities could have prevented the decline in the money stock—indeed, produced almost any desired increase in the money stock. The same actions would also have eased the banking difficulties appreciably. Prevention or moderation of the decline in the stock of money, let alone the substitution of monetary expansion, would have reduced the contraction’s severity and almost as certainly its duration.”
Milton Friedman and Anna Schwartz 1963, A Monetary History of the United States 1867-1960, Princeton University Press, Princeton, p. 301
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