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Milton Friedman is dead - or haven't you heard? - Orange County Forums

Milton Friedman is dead - or haven't you heard?

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John Q. Public
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Milton Friedman is dead - or haven't you heard?

Postby John Q. Public » Thu Sep 12, 2019 9:32 am



I guess Stu didn't get the memo about the Business Roundtable - CEO's of America's 200 largest corporations - only two weeks ago adopting and promoting what he's calling anti-capitalist and socialist. It's neither. It's simply Keynesian and it's worked fabulously (off and on) since the days of the Magna Carta. It's what created the middle class and it's what was responsible for the post-war boom and all of the growth through the '50's and '60's. Before Friedman came along and broke all of it.


Don't look at me, I just work here.

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Wabash
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Re: Milton Friedman is dead - or haven't you heard?

Postby Wabash » Thu Sep 12, 2019 9:45 am

I've said this before.

Varney is what a stupid person thinks a smart person sounds like.

Warren's plan has historical precedent for being beneficial to society.

Only a complete fool (like Varney) buys into Friedman's economic theories. 2008 should have been the end of it.

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John Q. Public
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Re: Milton Friedman is dead - or haven't you heard?

Postby John Q. Public » Thu Sep 12, 2019 10:44 am

Friedman's theories are just like Marx's - they work great until you introduce humans to the equation.
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Wabash
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Re: Milton Friedman is dead - or haven't you heard?

Postby Wabash » Thu Sep 12, 2019 11:38 am

That Warren has Wall Street freaking out is all the evidence I need that she is on the right track.

You're correct about Keynes. Despite those revisionists who try to claim otherwise.
They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

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John Q. Public
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Re: Milton Friedman is dead - or haven't you heard?

Postby John Q. Public » Thu Sep 12, 2019 11:59 am

She doesn't have Wall Street freaking out. Like I said in the OP, the Business Roundtable, chaired by Jamie Dimon, agrees with her.
Don't look at me, I just work here.

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John Q. Public
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Re: Milton Friedman is dead - or haven't you heard?

Postby John Q. Public » Thu Sep 12, 2019 12:14 pm

Don't look at me, I just work here.

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Tommy Tar
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Re: Milton Friedman is dead - or haven't you heard?

Postby Tommy Tar » Thu Sep 12, 2019 1:38 pm

And what's happens to the Union's pension funds?

Public Pensions in California.

Nearly one in nine Californians is a member of a public pension program.
More than 4.6 million Californians are members of state and local pension plans, according to the State Controller’s Office. Most members (76%) belong to the state systems: the California Public Employees’ Retirement System (CalPERS), the California State Teachers’ Retirement System (CalSTRS), and the University of California pension system. The remaining members belong to more than 100 local, special district, and other pension plans.

California’s largest public pensions have significant unfunded liabilities.
The largest funds at CalPERS and CalSTRS have reported gaps of more than $138.9 billion and $107.3 billion, respectively, between their estimated obligations to retirees and the current value of their assets. Since 2008, these unfunded liabilities have grown by more than $103 billion for CalPERS and $84 billion for CalSTRS. In 2016, 70% of California’s public pension liabilities were covered by assets, ranking 26th in the nation. Among other large states, New York ranked 4th (91%), Florida ranked 13th (79%), and Texas ranked 19th (73%).
*********** snip ***************

https://www.ppic.org/publication/public ... alifornia/

What are the 4.6 million Californians with their public pensions in the stock market going to think about this? --:--
‘I Haven’t Seen Democrats This Mad Since We Freed the Slaves!’..... Rob Schneider.

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Wabash
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Re: Milton Friedman is dead - or haven't you heard?

Postby Wabash » Thu Sep 12, 2019 2:39 pm

I'm sure you will tell us.
They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

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Wabash
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Re: Milton Friedman is dead - or haven't you heard?

Postby Wabash » Thu Sep 12, 2019 5:29 pm

They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

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John Q. Public
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Re: Milton Friedman is dead - or haven't you heard?

Postby John Q. Public » Thu Sep 12, 2019 6:44 pm

Don't look at me, I just work here.

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