Alan Greenspan, Confucius, Milton Friedman

[♦ nivek ♦]

"Regulation -- which is based on force and fear -- undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. A fly-by-night securities operator can quickly meet all the S.E.C. requirements, gain the inference of respectability, and proceed to fleece the public. In an unregulated economy, the operator would have had to spend a number of years in reputable dealings before he could earn a position of trust sufficient to induce a number of investors to place funds with him. Protection of the consumer by regulation is thus illusory."

-- Alan Greenspan

(1926- ) Chairman of the Federal Reserve Board of Governors (1987-2006)

http://quotes.liberty-tree.ca/quote_blog/Alan.Greenspan.Quote.FEE4

"He who will not economize will have to agonize."

-- Confucius

[Kung Fu-tse] (551-479 B.C.)

http://quotes.liberty-tree.ca/quote_blog/Confucius.Quote.794E

"The use of force to achieve equality will destroy freedom,

and the force, introduced for good purposes, will end up in

the hands of people who use it to promote their own interest."

-- Milton Friedman

(1912-2006) Nobel Prize-winning economist, economic advisor to President Ronald Reagan, "ultimate guru of the free-market system"

http://quotes.liberty-tree.ca/quote_blog/Milton.Friedman.Quote.C81E

[RedDogTolstoy]

Waxman: "You found a flaw in ...."

 

Greenspan: "The model that I perceive as the critical functioning structure that defines how the world works.

...That is precisely the reason I was shocked because I had been following [it] for 40 years with very considerable evidence that it was working exceptionally well.

 

http://www.youtube.com/watch?v=Dqe0VqIOrFQ&feature=related

 

________________

 

"Put away your proud air and many desires, your insinuating habit and wild will.

They are of no advantage to you; this is all I have to tell you."

LaoTze to Confucius

 

translate James Legee

________________

 

https://karmaisking.wordpress.com/2009/12/17/milton-friedman-was-an-idiot/

 

 

---he was a fiat money guy, supporting fiat money over gold (up until the end, when he started having doubts – too late in my view).

 

--- he supported central banking. How he could be a “free market guy” and support monopoly fiat and monopoly price fixing of interest rates is beyond me.

 

--- he destroyed Chile by implementing policies which systematically removed social investment and safety nets that (arguably) govts should provide, whilst keeping monopoly fiat in place. He was clearly a tool of the major US banks in Latin America.

 

--- his policies destroyed New Zealand, partially destroyed Australia, and partially destroyed many other countries including the UK and the US.

 

I will never forget Friedman sitting on the edge of Victoria Harbour in the late 1970s openly admiring the “free market” of Hong Kong. Hong Kong has the highest number of billionaires in Asia but 18% of the population live below the poverty line. Pollution problems are very serious. If you ask the average Hong Konger are they happy I guarantee they’ll say no. Housing is hideously expensive and is a huge tax on the working people (despite the supposedly low rates of tax there). Social services for the aged are extremely poor. The monopoly HK dollar is pegged to the US dollar. So the economy is subject to the same mad monetary swings as the US.

 

It is not so much a “Free Market” as one “Trapped in a Monopoly Money Hell”.