Mark plays some audio of the great Milton Friedman and explains how it is impossible for the government to spend your money better then you can.
Part 1 of 2
Part 2
http://www.youtube.com/watch?v=qGdk-n-bzI8&feature=channel
Duration : 0:9:7
Mark Levin and Milton Friedman Explain Free Market Capitalism Part 1 Of 2
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November 13th, 2009 at 11:01 am
No. The Fed did it …
No. The Fed did it. They lowered interest rates to increase the supply of credit. The CRA was tiny. It should still be abolished.
November 13th, 2009 at 11:01 am
Have you ever read …
Have you ever read about Reagan’s foreign policy in Latin America? Or Iraq?
The Reagan Administration armed, trained and directed Saddam Hussein, the Nicaraguan contras etc, causing the deaths of LITERALLY millions of people?
November 13th, 2009 at 11:01 am
Wait – Levin wants …
Wait – Levin wants to spend hundreds of billions of dollars on the military, and yet he supports free-market capitalism?
Right…
November 13th, 2009 at 11:01 am
CRA enforcement was …
CRA enforcement was very weak during the bush administration and should hardly get the blame for the lending crisis. the problem was no oversight, which allowed bank affiliates and non-CRA mortgage service companies to lend like crazy, wreak huge profits, then passed to the debt to the tax payers, as they are now. Friedmanism and too little gov’t intervention was the problem in this case ha.
November 13th, 2009 at 11:01 am
I believe your …
I believe your referring to CRA? that law was actually first passed in 1977, and it was law that required banks to make loans in neighborhoods were they made deposits. According to Mike Bars testimony before the House 50% of sub-prime loans were made by mortgage service companies not subject to CRA, and another 30% were made by affiliates of banks which have little oversight. the idea that the lending crisis was caused in just a few years is just not true. thebush administration had weakened CRA
November 13th, 2009 at 11:01 am
Yes, the Community …
Yes, the Community Reinvestment Act was a huge part of it.
November 13th, 2009 at 11:01 am
The housing bubble …
The housing bubble was caused by liberalized economics. When The right tried to stop legislation in ‘02 that allowed creative financing to get “poor” people into home ownership Senator Harry Reid (D. Nv.) said that they were trying to stop the poor from achieving the American dream.
The truth is that the right PREDICTED the housing crash and nobody listened.
November 13th, 2009 at 11:01 am
The Free Market is …
The Free Market is inefficient.
Economists know this to be a fact.
November 13th, 2009 at 11:01 am
during the post war …
during the post war period there were constraints on capital flow, and much more regulation. things weren’t perfect, however recessions were less frequent and much less deep. in the 1970s when the economy was much more liberalized, then we got the types of recessions we have today. and this one was accelerated by the housing bubble
November 13th, 2009 at 11:01 am
adagda34-
Do you …
adagda34-
Do you have to take classes to be this stupid?
November 13th, 2009 at 11:01 am
Government is the …
Government is the problem. Why would you want them in control of the banks? Look at every thing they have had their hand in. Socialsecurity in a good example of government miss management.
November 13th, 2009 at 11:01 am
Liberals are …
Liberals are generous only with other peoples money.
November 13th, 2009 at 11:01 am
“Barney Frank” ” …
“Barney Frank” “Chris Dodd” And other un named criminals.
November 13th, 2009 at 11:01 am
You libs really are …
You libs really are morons.
November 13th, 2009 at 11:01 am
Friedman only …
Friedman only served dictatorial fascists Chile, etc. corporations and the wealthy.Milton Friedman Institute, a multidisciplinary research outpost attracting million-dollar donations from corporations and the wealthy.
November 13th, 2009 at 11:01 am
The evil that men …
The evil that men do lives after them.
Global economic crisis has roots back in 1970s, it was Milton Friedman the economist, Nobel laureate and American Treasury Secretary who convinced Reagan and Thatcher to adopt his policies of small government; deregulation of financial services; free and unfettered markets; low taxation and privatisation of public services.
November 13th, 2009 at 11:01 am
Agreed and that is …
Agreed and that is why this is beyond a normal recession. I we didn’t have a fiat currency we probably would have had normal business cycles and been a lot better off now. Thank you Nixion for destroying the gold standard.
November 13th, 2009 at 11:01 am
banks adjusted the …
banks adjusted the products to the government mandates in order to accommodate the push for more home ownership to those who would not normally get loans (since they would not qualify). this was the bedrock of the financial crisis and it starts with big, clumsy, iron fisted federal government.
November 13th, 2009 at 11:01 am
ahahahahahaha youre …
ahahahahahaha youre an idiot.
November 13th, 2009 at 11:01 am
Recessions are …
Recessions are normal – 25 years of global growth, now thats abnormal.
November 13th, 2009 at 11:01 am
the auto industry …
the auto industry and every other industry controlled by govt will fail.. and they should. Join your local TEA PARTY ASAP!! Defend Liberty!!
November 13th, 2009 at 11:01 am
Are you kidding me? …
Are you kidding me? The Govt MADE the banks give those loans. That was ACORN’s big push, to force banks to give loans to low income families.
November 13th, 2009 at 11:01 am
mark i see ure …
mark i see ure point but it is a different argument,it was a genuine mistake made by the US gov. But tht isnt gov. regulation, instead the gov. should have more control over banks n not let them give loans and credits so easily
November 13th, 2009 at 11:01 am
You are incorrect. …
You are incorrect. Government regulations caused this recession. The gov. forced banks to lend to people who could not afford to pay back the loans. Community Redevelopment Act
November 13th, 2009 at 11:01 am
One of my favorite …
One of my favorite example of a business that benefited from Free Market Capitalism is the computer and IT industry. The US federal government and other European governments don’t have a lot of regulations controlling its expansion and growth.
Of course if you view the automobile industry, it is a completely different story. Tons of regulations on what type of vehicle they should make, tons of labor laws, and so forth. The automobile industry is not advancing as fast because of government.