Milton Friedman (December 26, 2005)



Uploaded by: CharlieRose
Video Description:
An hour with Nobel Prize-winning economist Milton Friedman. Friedman discusses his life, his contributions to economics, the Republican Party and his view on the direction of the United States and the world in coming years.


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Coz it made deficit ... ( 1 month ago by gromph86)
Coz it made deficit even bigger, and that is an decreasing FED interest rates and inflationary action. And what can be the outcome of too low interest rates, and bank loans for everyone I think U can see by Yourself
And of course I ... ( 1 month ago by gromph86)
And of course I wanted to say that i do not 100% aggree with Milton. Although I think he was without a doubt a fantastic person. Champion of free economy as it was said at the beginning. And my concernes are just technicals, not clouding the whole libertarian disciple image of Milton Friedman.
Isnt bigger deficit ... ( 1 month ago by rl0u8888)
Isnt bigger deficit bad? And one of the reason why we are in this crisis is because the banks were loaning everyone carelessly with low interest rates. I still dont see why friedman would think that this is a good idea.
I'd be thrilled to ... ( 1 month ago by entelekhia)
I'd be thrilled to know what Friedman would have to say about the economic crisis
What specificlly ... ( 1 month ago by CrowdPleeza)
What specificlly did Milton Friedman advocate that led to this crisis?
Did Milton ever ... ( 1 month ago by CrowdPleeza)
Did Milton ever advocate subprime loans?
I didn't suggest ... ( 1 month ago by entelekhia)
I didn't suggest that he advocated anything that led to this crisis. On the contrary, I think he was very right to criticize the Fed and thought that it should be abolished. I'd just be thrilled to know what he would make of this current situation.
Alright. I thought ... ( 1 month ago by CrowdPleeza)
Alright. I thought there was some sarcasm with your question.
The only true way ... ( 4 weeks ago by youngeek)
The only true way to decrease the deficit is to DECREASE SPENDING! Increasing income tax decreases federal revenue because it kills the economy. This increases the deficit even more. Bush tax cut increased the revenue by around a trillion $ but the deficit grew because he spent money like a drunken Democrat.
I wish he was ... ( 3 weeks ago by triniduane)
I wish he was around to comment on the bailout and the credit crunch.
What would Friedman ... ( 3 weeks ago by glassvision)
What would Friedman say today in Dec. 2008, with 1 USD=89 Japanese yen and DOW at 1997 level? Couple of decades ago 1 US dollar was 500 JPY.
"what would case a ... ( 2 weeks ago by Scottnice)
"what would case a foreign dump of US assets."
"There would be only one thing that would cause them to do that, and that would be inflation, if our monetary authority; started to print to much money; that might do it. But thats not gonna happen."
Well, that says it all, and for those of you who don't know about this inflation; the money supply has increased by ALOT in the past 4 months since these bailouts started. All the right conditions have been met for foreigners to dump US dollars.
You are wrong. The ... ( 2 weeks ago by wqvsaa)
You are wrong. The economies of these foreign coutries are far worse off than ours here in the US.
If what you're saying were true then what are they waiting for?
The president does ... ( 2 weeks ago by wqvsaa)
The president does not have authority over fiscal policy. It is the congress who controls that matter. Blame those in congress since that is where the fault belongs.
How does cutting ... ( 2 weeks ago by wqvsaa)
How does cutting taxes increase the deficit? If the govt. is taking in less money then how can the defict increase? Wouldn't you need more money to spend to increase the debt? Seems to me it is not the amount of revenue coming into the govt. hands that causes the debt to increase or decrease but instead the manner in which the revenue is spent.
If you could explin you reasoning behind your conclusion it would be a great help. Thank you
The deficit can ... ( 2 weeks ago by gromph86)
The deficit can always insrease, coz govt don't have to have money he spend. It is called deficit financing, and in that king of a situation govt is borrowing or (more often) printing money (directly printing or selling bondg which is more or less the same). So if the govt is taking less money and do not cut spendings at the same time deficit will always increase.
If that wasn't clear enough, or U have some other questions I will be happy to answer.
How is printing ... ( 2 weeks ago by wqvsaa)
How is printing more money more or less the same as selling bonds?
When govt print ... ( 2 weeks ago by gromph86)
When govt print money new cash appear on the market. Govt didn'd had that money, they just made completly new ones and now they can use them (clearly inflationary move). When gov sell bonds more or less the same situation appear - they sell sth they dotn have and they use money earned on it. When time comes to buy them back they sell more bonds to pay those earlier and to finance present deficit.
I thought when ... ( 2 weeks ago by wqvsaa)
I thought when bonds are sold it takes money OUT of circulation? So that would mean the new printed money would be cancelled out by the bonds sold.
There is no other ... ( 1 week ago by NivoUF)
There is no other way than freedom. We must finally get rid of all enemies of freedom, like all socialists scums allover the world.
should they not ... ( 1 week ago by Elasaltaculos)
should they not have the "freedom" to be socialists? lol. Don't get me wrong, I think socialists are dead wrong, but if they have no means to interfere with my freedoms, they can assemble and do their idiotic redistributing as much as they want.
No, they should be ... ( 1 week ago by NivoUF)
No, they should be allowed to belive in whatever they want to, but they should not be allowed to make a law in any country, because there is only one true humanitarian system - capitalism + leseferism. There is no other way in that matter.
Ok, lol, that I can ... ( 1 week ago by Elasaltaculos)
Ok, lol, that I can agree with.
"Get rid" are pretty strong words, it is kind of line with what Mao, Stalin, Pol Pot or Castro would do
My bad, sorry - ... ( 1 week ago by NivoUF)
My bad, sorry - english is not my native language, so forgive me mistakes. But to be honest, I can agree with what Agusto Pinochet did in Chile. Sometimes we must think like: "There's no freedom for the enemies of fredom.", because (as we can see now), they will be taking our freedom piece by piece, leading us to the worst kind of slavery - slavery hidden behind democratic laws and "modern" society.



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