all028 (July 4, 2009 at 1:09 am)

Wow...from 2:15 to 2:24, Milton's words are prophetic. Isn't that was the Federal reserve is doing these days? Or, maybe, David Bernake took Milton's advice...Very interesting...

ronhanish (July 1, 2009 at 10:01 pm)

i don't believe this guy

gunsandbullhorns (June 27, 2009 at 4:06 pm)

Oh yeah. I agree. I've got friends in Labour Unions. They tell me ALL about 'em. ;oFrom a cold economic standpoint, my biggest complaint about Labour Unions is that they behave stubbornly in recessions, and are resistant to wage-cuts. I think this is foolish. It keeps prices high and disincentivises hiring when employment is in high demand and consumers are low on money. It's not such a big deal during a boom, but it can drive a business under during a recession.That's my understanding.

louiethegreater (June 26, 2009 at 11:21 pm)

Union membership are folks going out on a daily basis to earn a living. If the unions are corrupt it is the leadership that is corrupt not the membership. I have been a union member most of my working life, and have no respect whatsoever for the leadership they are nearly as corrupt as the American Congress. Which as Ross Perot said " Is the most corrupt body in the world ".

gunsandbullhorns (June 26, 2009 at 4:31 pm)

louiethegreater—In the last month I've been doing alot of research on the history and economic theory of Labour Unions, from an Austrian (libertarian economic) slant. I've got some really nasty opinions about Carnegie&Rockefeller, but Labour Unions have a dirty history as well, and economically, they seem to cause alot of problems.I guess I'll need to study more int'l trade economics before I figure out where I stand on this issue.Do you wanna' recommend any reading material?

louiethegreater (June 26, 2009 at 1:18 pm)

The only area of research I could offer you would be, to just take a look around the city you live in and look at the closed factories. Then ask yourself why they are closed, the answer would have to be: because the jobs were outsourced to cheap, unregulated labor markets. All the Robber Barons discouraged labor unions, from Carnegie to Rockefeller all wanted a abundant source of unorganized labor. WHY to maxamize their own profits, labor unions forced them to share the wealth with labor.

vshagoyan (June 22, 2009 at 12:31 am)

I mean that the amount of money should be set and fixed. The amount of money in the economy makes no difference, changing the amount of money is just changing the prices for goods. What matters are not how many dollars are in the market but how many goods and services there are. Money is just a ruler to measure the different values of different goods and services. Changing the money supply isnt changing much.

spike8088 (June 22, 2009 at 12:12 am)

2012Ron did u change ur name to vshag? If so, you stated earlier that 'the amount of money does not matter', but then here you state that 'if you create enough money it loses its utility.' Which is it?Friedman stated that because of deflation the Fed should have increased the amount of money into the banks; it did not. That would have stopped the runs on the banks. How is he an idiot for stating that?

vshagoyan (June 21, 2009 at 7:17 pm)

No that is my point. If you print money you are changing the size of the ruler. If you create enough money it loses its utility.

spike8088 (June 21, 2009 at 7:12 pm)

Are you a Ron Paul supporter? He wants to take us back to the gold standard; with which I agree. Stop runaway inflation; which happens when you increase the amount of money in the system without sufficient backing.What are you even talking about with your 'ruler' analogy? Should we simply print as much money as we want and expect it to hold it's value?

GirlyVoice (June 19, 2009 at 1:02 am)

"the runs" huh huh... sorry

2012Ronpaul2012 (June 18, 2009 at 9:14 am)

friedman is an idiot, deflation and problems from the money supply not being inflated at the same time as production is being increased?? The amount of money in the system does not matter. Money is a ruler, if you change the size of the ruler, all that changes is the the size of the ruler.......