OT,... Answer to Occupy Wallstreet

John A. · Dec 8, 2011

Guys Here is a 2&1/2 minuet video clip of Milton Friedman being interviewed by Phil Donahue.
31 yrs ago!!!!!!! The answer has been in front of us all the time.
Later,
John
http://dauckster.posterous.com/a-31-year-old-video-clip-absolutely-worth-you
Untitled URL Link

Mike M · Dec 8, 2011

Sad thing is that the answers Milton gave are clear to you and me,but Phil seemed like he just could not understand this ? but yet he was living proof of it.

Geo-TH,In · Dec 8, 2011

History does repeat itself. Thanks for the post.

You should look at the really bad buzz words created like "Fair Shair", "Corporate Greed", "Class Warfare" just to name a few.

snoop-nc · Dec 8, 2011

IMHO there is a fine line between "capitalism" and "greed". He remarks ring true. Unfortunately, I'm afraid we...as a society...are on the wrong side of that line today.

Just my humble opinion.

Rick

Geo-TH,In · Dec 8, 2011

If you are not breaking any laws is it capitalism or greed?

Which side of the line are drug dealers?

Gun guru · Dec 8, 2011

Milton Friedman was a great economist....I have read 2 of his books. The greatest anti-socialist I know.

The weasels that are protesting are protesting because THEY didnt get their hand out in the proportion that THEY wanted. Of course most of these people have never worked a hard day in their lives. These kids walk out of college and expect to get a good job handed to them, paying $50k per year. It doesnt work that way and THEY cant accept it because as children THEY were coddled from mommy and daddy and so on.
I do agree that the banks ran amuck for a long time and if you look at some of the past recessions and the great depression they were caused by banks making bad decisions, Banks closed up in the 30s, the S and L mess of 20 years ago and the BS of losers that could never afford a $300,000 mortgage getting approved anyway because someone wanted that sales commission of that house/mortgage.

oldtanker · Dec 8, 2011

I ask a guy from Bangladesh if he thought we Americans were greedy. He told me that everyone is greedy, didn't matter is it was for food, shelter, things or money.......

Great vid!

RIck

Lou from Wi. · Dec 8, 2011

Thanks for the past eye opener. appreciate the truth for once. Regards LOU.

PJH · Dec 8, 2011

I didn't watch the video, and I ain't a protester, and I'm not even sure what their goals are, but I got a bank CD quarterly report in the mail yesterday and it shows that I'm earning a whopping 0.75% on that particular CD. I remember around 15 or so years ago when 6% earned interest was common. I don't have any notes, so I don't know what they're charging for note interest, but I'm pretty certain it's more than 2.75%. Our bank used to have an "earned interest plus 2%" policy if using a CD for collateral. Last time I asked about it they laughed. . .

My Edward Jones man thinks I should turn it all over to him to manage. He's not done so hot with the little money that I've put him in charge of already. At least with a CD, you never get in the negative interest, but you sure do come close. I hope somebody is getting rich. It sure ain't me, but I was born hungry, naked and broke, and probably will die that way too.

My good old banker neighbor once told me that everybody ends up with as much money as they are smart enough to handle. I kinda got a sinking feeling when he said that. . .

Bret4207 · Dec 8, 2011

PJH, actually your .75% is more or less loosing money because the Fed is monetizing the debt which means our dollar is worth less each day. I don't know if it loses .75% per year, I think it's more like 3-4%.

IndianaRed · Dec 8, 2011

Friedman is the best. His books should be required reading in all high schools.

TVB · Dec 9, 2011

Many third world contries are missing only one thing. Freedom

OT,... Answer to Occupy Wallstreet

John A.

Well-known Member

Mike M

Well-known Member

Geo-TH,In

Well-known Member

snoop-nc

Member

Geo-TH,In

Well-known Member

Gun guru

Well-known Member

oldtanker

Well-known Member

Lou from Wi.

Well-known Member

PJH

Well-known Member

Bret4207

Well-known Member

IndianaRed

Member

TVB

Member

Similar threads