ECONOMIC LESSON FROM MILTON FRIEDMAN -- please view it
This interview of economist Milton Friedman by leftist Phil Donahue is one that every American can benefit from -- if you maintain an open mind. It starkly contrasts today's socialist-leaning academic economists whose philosophy dominates government fiscal policy as well as The Fed's monetary policy. Socialistic Keynesian economic policy dominates in spite of it's failure wherever employed.
The USA is following the failed leads of Europe, especially the PIIGS, as fast as the Obama administration and The Fed can drive us. I fervently hope that enough Americans will understand the critical condition that reckless economic policies are subjecting us to, get active and take action to stop what is happening to America.
Years of reckless spending and structural changes in the economy created a huge national problem. Traditional America is in decline, some seem not to care and some want an America transformed to their socialist model.
The 2008 election brought us to the brink by putting people who haven't the knowledge, leadership skills or proper motivation in control.
The 2012 election can drive us over it into the abyss if good leadership is not elected. The person who can provide that leadership is not yet firmly identified. But, Obama has proven not to be that leader.
Not a single policy or action by the current administration is positive toward protecting us from calamity.