There Will Be Some Kind Of Real Financial Collapse And Disorder That Will Require A Total Reconstruction Of The System - David Stockman-

Mises Daily: Friday, September 06, 2013 by David Stockman David Stockman, Director of the Office of Management and Budget under Reagan, former Congressman, and author of the new bestseller The Great Deformation: The Corruption of Capitalism in America, discusses his new book, the gold standard, bailouts, and the problems the American economy faces today. Mises Institute: In the book, you oppose Bernanke’s view of the Great Depression, which you point out relies heavily on the views of Milton Friedman. David Stockman: Bernanke has cultivated this idea that he is a brilliant scholar of The Great Depression, but that’s not true at all. What Bernanke did was basically copy Milton Friedman’s misguided and very damaging theory that the Federal Reserve didn’t expand its balance sheet fast enough by massive open market purchases of government debt during the Great Depression.



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