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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (522584)	10/21/2009 10:55:38 PM
From: bentway	1 Recommendation Respond to of 1579883

"It was Friedmans economics that just got destroyed." Truer words were never spoken! Bush and everyone else became a Keynesian overnight!

To: koan who wrote (522584)	10/21/2009 11:05:56 PM
From: i-node	Read Replies (1) \| Respond to of 1579883

It was Friedmans economics that just got destroyed. Deregulation and the banks went crazy and racked up over 216 tillion in leverage and then lost it and that is what we the public need to unwind. Friedman, if nothing else, believed in the power of the markets. It was government interference (a la Dodd & Frank) that caused the recent economic crisis to be more serious than a run-of-the-mill recession. Although, I'm not sure Friedman would have been too excited about Bush's TARP, which saved the economy from becoming a bigger problem than it was.