The Friedman Koolaid

Thom Hartmann takes calls and talks economics. Check out airamerica.com!

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[freakyfatdog]

@jakeyw11 Styles make fights and debates. Friedman is good but he doesnt match up well with Hartmann. Friedman uses too many defensive strawman arguments and Hartmann eats that stuff up.

[MsZeitgeist85]

@jakeyw11 Why do you think Friedman has any credibility in this? He was thourally discredited after the BAM crisis and his experement in Chile went down in flames.

[MsZeitgeist85]

@jakeyw11 Michael Cannon is still selling our failed health care model of for profit health insurance that has failed everywhere it has been tried. THere is no such thing as a "Free Market" solution for health care and there never will be.

[MsZeitgeist85]

@jakeyw11 Michael Cannon was bullshitting his ass off about canadian health care. Watch The Real News Network Single Payer debate.

Do you really think that there are more bankruptcys under Single Payer than what we have here. Here 62% of our bankruptcys are from medical debt.

Watch the video my friend Radio Hogan made called Friedman's Overcleverness which shows the fallacys of Friedmans Permenant Income theory.

[jakeyw11]

@MsZeitgeist85 I've seen Krugman debate universal health care before and Michael Cannon made him look absolutely foolish.  I doubt that even Krugman would want to debate Friedman.

[jakeyw11]

@MsZeitgeist85 It is such an absurd argument to say that Friedman wasn't a good debater... Watch the 2nd half of any of the PBS "Free to Choose" 1980 series and just about anyone can see that Friedman is able to make extremely intelligent and convincing arguments advocating his side of the issue at hand. Hartmann vs Friedman would be laughable most people that keep Tom on topic beat him in debates and Friedman vs Krugman would be a laugher too.

[MsZeitgeist85]

@jakeyw11 Oh you mean the bubble that Friedman's student Greenspan said didn't exist. And no the banks is sitting on billions there were mergers and the fed gave them money to pour liquidity into smaller banks and they took that money and gave themselves bonuses and not one banker is in jail for this.

I still stand by what I said before. Friedman wasn't even a good debater he was a TV personality thats why the old fallacys of Friedman's Permenant Income theory are still around today.

[jakeyw11]

@MsZeitgeist85 FYI, Friedman's influence can still be seen today. Just look at the way the US addressed the financial contraction that should have occurred after the housing bubble started to burst. The Fed infused cash into the system to prevent bank failures. People claim banks are sitting on federal money... that isn't true at all. The Fed sent money to the banks to hedge against bank failures and bank runs that contributed to the great depression. 

[MsZeitgeist85]

@jakeyw11 Another thing to note is that one of the reasons Friedman had clout on this was because Monetarism was an effective way to fight inflation but by the late 70s Monetarism was obsolete. Look what happened when Thatcher tried it in the UK. Manufacturing went down. Uneployment went through the roof and in 1986 The Bank of England was forced to abandon Monetarism.

See Health Care wasnt' the only thing Friedman was wrong on.

[MsZeitgeist85]

@jakeyw11 PART 1 People say that about Klien because she is a historian not an economist but what she said about Chile was right. The so called miracle of Chile was a fairy tale. In 73 when Pinochet took power by force unemployment was 4.3% and poverty was 20% when Pinochet braught in Friedman's team of advisors from Chicago and he privatized the national bank, the resources. He destroyed unions collective barganing rights, lowered taxes on industrys, slashed public workers, privatized pentions.