Milton Friedman Quote 

"I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements.''

by:
Milton Friedman
(1912-2006) Nobel Prize-winning economist, economic advisor to President Ronald Reagan, "ultimate guru of the free-market system"
Source:
'Capitalism and Freedom'
Categories:
 
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Reader comments about this quote:
In other words, recessions and depressions are contrived, they don't just happen.
 -- jim k, austin		 
 -- Kenny Edgar, Bristol England 
Thats right. They destroy the market, forcing everyone that cant afford to hang in there to sell off everything. Then they, with the phony money buy it all up at fire sale prices. The rich get richer and the little people die in pain and suffering. They have done it before and they are doing it again. It is a crime and they need to brought to justice. Just because they have money and power dosent mean that this is not thieft. Imagine, they have been giving them selves bonus's and partys with our money, then they throw us out of our homes.
 -- Ken, Milford Pa		 
That is why G. Soros is a Democrat. He makes big money when the market takes a down turn. Bad times=big bucks for him.
 -- warren, olathe		 
No committee, group, or individuals making up the Reserve system can be so inept as to repeatedly make the same mistakes. If nobody can be so incompetent, it must be intentional. When too many people start collecting sufficient financial assets to make them independent, those assets must be made to evaporate away through subterfuge and theft so that those presumptuous commoners can brought down and under control.
 -- Ken, Allyn, WA		 
I want to thank whoever put up this quote for a source. Many of the quotes are very good, but I do not like to share them without sources.
 -- v, southern Utah		 
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