2019-Sep-07
https://www.npr.org/2019/09/06/758199390/binyamin-appelbaum-on-the-economists-hour?fbclid=IwAR152nqiUEcjF8YdOkN0XF0EYzDkuKS-D1rSAN60nEhheGcC0IUdvFF6_70
FROM A FACEBOOK FELLOW ALUM:
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Robert Kuhn
Yesterday at 10:10 AM ·
Posting this for my friend and co-alum, FJohn Reinke. He knows more about this stuff than I do. I was surprised, and somewhat enlightened, by the content of this, as my opinion of economists has taken a sharp detour “south” (figuratively speaking) in recent years.
Another interesting sidelight based on the time line (if I am recollecting correctly): I believe my Dad studied Economics at Georgetown for a semester; possibly connected to his peripatetic NROTC existence. I will have to check with my Uncle Gene for verification (or the opposite) …
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MY RESPONSE:
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As a fat old white guy injineer, I’m not an ekkynonomist by any means. This 7 minute clip is just full of “barbara streisand”. I’ll refer it to those more learned than I Tom Woods & The Tom Woods Show Elite for a laundry list of specifics.
I would point out that Milton Freedman may have started as libertarian with his position on the gold standard, but he turned to the dark side with his creation of “tax witholding” in my mind. He also is a champion of the Fed as the nation’s money manager. Clearly wrong.
I also almost spit out my coffee when the woman said that foreigners seek the “stable American dollar”. In case she hasn’t noticed, the dollar has lost 99% of its purchasing power while I’ve been alive. 2% inflation over 40 years has reduced the dollar to near zero in purchasing power. Think “penny candy”.
As one would expect from a Gooferment supported media outlet, it would seem that they are in a different world than we are. Leaving the Gold Standard for the Fed-standard, has allowed the Gooferment politicians and bureaucrats an unlimited checkbook to borrow and spend. Must to the detriment of “We, The Sheeple”!
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He is often quoted in anti-Government memes like “If you put the federal government in charge of the Sahara Desert, in 5 years there’d be a shortage of sand.” and “Nothing is as permanent as a temporary government program.” and was for a free market economy in general.
However he did support the role of the FED in monetary policy. Clearly not very “libertarian”.
Sigh!
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