Milton Friedman and Two Big Government Schmucks

Watch this reasonably interesting Charlie Rose segment from 1999 where Milton Friedman discusses the domestic and global economy followed by two big government schmucks, Laura Tyson and Paul Romer, spilling endless drivel while basking in the glow of their “new economy”… of course this segment was from June of 1999 roughly 8 months before it all fell apart with the “tech wreck”.

Romer actually believed that our government created computer science… not just the technology involved in the early internet… the whole entire academic discipline… supposedly… to him… created as a result of a simple government program.

Although both numskulls thought the government at that time was actually “managing the business cycle better”, Tyson admits that animal spirits could still pose a danger.

Sir James Goldsmith... Genius, Laura D'Andrea Tyson... an Idiot and a Fraud

This is a simply amazing debate from 1994 whereby Sir James Goldsmith outlines with superb detail the downside of unfettered global trade liberalization and more or less calls the next 15 years with stunning accuracy while Laura Tyson, then chair of the Council of Economic Advisers under the Clinton administration, blathers on in an incredible show of utter foolishness.

How do you like the "facts" now?

Listen closely to the last 6 or 8 minutes where Goldsmith talks about the risks of derivatives and the speculative nature of the financial system and its implication for the real economy... simply genius... really pretty amazing and almost shocking accuracy... remember this segment was from 1994.