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Sweden Is Right. the Economy Should be Left Open


By Mike Whitney
Unz.com

Sometimes, the best thing to do, is to do nothing at all. Take Sweden, for example, where the government decided not to shut down the economy, but to take a more thoughtful and balanced approach. Sweden has kept its primary schools, restaurants, shops and gyms open for business even though fewer people are out in public or carrying on as they normally would. At the same time, the government has kept the Swedish people well-informed so they understand the risks the virus poses to their health and the health of others. This is how the Swedes have minimized their chances of getting the infection while avoiding more extreme measures like shelter-in-place which is de facto house arrest.

What the Swedish experiment demonstrates, is that there’s a way to navigate these unprecedented public health challenges without recklessly imposing police state policies and without doing irreparable harm to the economy. And, yes, the results of this experiment are not yet known, but what we do know is that most nations cannot simply print-up trillions of dollars to counter the knock-on effects of bringing the economy to a screeching halt. These countries must dip into their reserves or take out loans from the IMF in order to recover from the lack of production and activity. That means they’re going to face years of slow growth and high unemployment to dig out from the mess their leaders created for them.

And that rule applies to the US too, even though the government has been recklessly printing money to pay the bills. The unforeseen cost to the US will come in the form of long-term unemployment triggered by millions of failed small and mid-sized businesses. That grim scenario is all but certain now. And just as the USG “disappeared” millions of workers from the unemployment rolls following the 2008 Financial Crisis– forcing them to find low-paying, part-time, no-benefits work in the “gig” economy– so too, millions of more working people will fall through the cracks and wind up homeless, jobless and destitute following this crisis. One $1,200 check from Uncle Sam and a few weeks of unemployment compensation is not going to not be enough to prevent the fundamental restructuring of the US labor force that will be impossible to avoid if the economy isn’t restarted pronto.

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Milton Friedman: The Forgotten History of the Godfather of Conservative Libertarianism


From Ammo.com
 

“I would like to say to Milton and Anna [co-author of A Monetary History of the United States, 1867–1960]: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.”

Milton Friedman is the Godfather of American conservative libertarianism. He was, at a time when it was deeply unfashionable in official circles, a fierce critic of Keynesian economics. He was a leader of the second generation of libertarian economists to come out of the University of Chicago. Among the people recruited or mentored by him at the university include Thomas Sowell, Gary Becker, Robert Fogel and Robert Lucas, Jr. Friedman often used the jargon and methodology of Keynesians while rejecting their basic premises, coming to very different conclusions than his Keynesian counterparts.

One of his groundbreaking theoretical innovations is the notion of a natural rate of unemployment. Friedman believed that when the unemployment rate was too low, inflation was the result. Using this and his unique interpretation of the Phillips Curve, Friedman predicted “stagflation” long before there was even a word for such things. Friedman likewise broke with Austrian orthodoxy in advocating for small, controlled expansions of the money supply as the proper monetary policy. This became known as “monetarism” – the theory leveraged by the Federal Reserve during the 2008 financial crisis.

As an advisor to both United States President Ronald Reagan and United Kingdom Prime Minister Margaret Thatcher, it can be said that, in some ways, Milton Friedman was the forerunner of neoliberal economics on the international scale.

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Video: Milton Friedman and Phil Donahue On Socialism v. Capitalism


This is arguably the best explanation of the value of free market capitalism EVER. Pretty much everything everyone does is driven by self-interest and this notion that political self-interest is somehow more noble than economic self-interest has never proven to be true throughout all of human history.

 

 
 
 
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Trump Strikes Trade Deal With EU




The Washington Times

 

President Trump struck a trade deal Wednesday with the European Union, reaping significant concessions as top EU officials moved to avoid an escalating tariff war with the U.S.

The agreement seeks to eliminate all tariffs and trade barriers and eliminate all subsidies on non-auto industrial goods, which was the deal pushed by Mr. Trump.

“This was a very big day for free and fair trade,” Mr. Trump said in announcing the deal in the Rose Garden with European Commission President Jean-Claude Juncker by his side.

Mr. Trump called the deal a “new phase” in the U.S.-E.U. relationship.

The deal also included the E.U. importing more U.S. soybeans, lowering industrial tariffs and working on an agreement to import more liquified natural gas (LNG) from America.

“I had the intention to make a deal today and we made a deal today,” said Mr. Juncker.

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Video: The CAFR Swindle - The Biggest Shell Game In Town


Taxes are no longer necessary. This video exposes a deliberate and massive accounting shell game/swindle that is perpetrated by every government agency from your local school district all the way up to the Federal government.  This is the second Version of this expose' on public finance. Similar to first version, but incorporating input from Walter Burien and Clint Richardson.

See their sites for much more info:
cafr1.com
thecorporationnation.com
realitybloger.wordpress.com

 

 
 
 
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Video: Tarrifs Needed - Peter Navarro: Steel and Aluminum Industries Are ‘On Life Support’


White House National Trade Council Director Peter Navarro says President Trump’s tariff plan on steel and aluminum imports will revitalize an industry that’s been “on life support.”

 

 
 
 
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FREE Video Library: Economics/Economy


: 10 minutes or less.  : 11- 36 minutes.   : Over 36 min. Fun:

 

  •   Milton Friedman and Phil Donahue On Socialism v. Capitalism
    This is arguably the best explanation of the value of free market capitalism EVER. Pretty much everything everyone does is driven by self-interest and this notion that political self-interest is somehow more noble than economic self-interest has never proven to be true throughout all of human history.
  •   Introduction to the CAFR Swindle - The Biggest Shell Game In Town
    Taxes are no longer necessary. This video exposes a deliberate and massive accounting shell game/swindle that is perpetrated by every government agency from your local school district all the way up to the Federal government.  This is the second Version of this expose' on public finance.Similar
  • tofirst version, but incorporating input from Walter Burien and Clint Richardson.
  •   "The Biggest Shell Game In Town"
    This video was produced
    onJanuary8th 2000 and then was distributed only by VHS tapes. About 8,000 originals were distributed internationally and copy/distribution rights were given whereby about 140,000 1st, 2nd, and 3rd generation copies were circulated. The documentary published to Google video is not the best film quality but it gets the valid information out there and was annotated on the lower script line with 2008 information. This was the first CAFR1 video that got the ball rolling for international disclosure of the CAFR of which has become the biggest shell game played in government finance.
 
 
 
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