Happy Birthday and God Bless Uncle Miltie

Friday would have been Milton Friedman's 99th birthday......a nobel prize winner and described by The Economist as "the most influential economist of the second half of the 20th century…possibly of all of it."

Friedman was originally a Keynesian, a supporter of the New Deal and an advocate of government intervention in the economy. However, his 1950s reinterpretation of the Keynesian consumption function challenged the standard Keynesian model of that time. At the University of Chicago, Friedman became the main advocate opposing activist Keynesian government policies. During the 1960s he promoted an alternative macroeconomic policy known as "monetarism", today, the foundation of the world's most effective central bank policy mechanisms. A key policy advisor to President Reagan, he spent the remainder of his storied career arguing against unnecessary government intervention and regulation and proving the inherent inefficiencies and contradictions of activist government policies.....he would be aghast and heartbroken over the current state of his country and the leadership of the current administration.



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So what will Obama do to save the economy and create jobs now? He's out of ideas, and he refuses to use Milton Friedman's ideas, which have always worked before...

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He is in an ideologue's worst nightmare......he can't do the right thing because it will prove his ideology bankrupt. If he initiates effective policy to create jobs, his political base will be apopletic and revolt.....as we used to say back in my 'hood, he doesn't know whether to sh!t or go blind.......

 

You and I grew up in the same hood, I think.

 

My dad and I are from Rhode Island, and we would always say, "He doesn't know sh!t from Shinola."

 

Buck T's an Ohio boy l;ike me I think and that saying is big there. Other ones include "he couldn't finds his ass with both hands" and "he couldn't piss in his boot if he had directions on the heel".

I never understood why you would want to piss in your own boot....