“You are the one demanding that a guy who has studied Friedman and Schwart A Monetary History of the US and done an excellent job conducting monetary policy though a panic and a recession resign as a condition to for raising the debt ceiling. I just want to get you on record as saying Milton Friedman was wrong.”
—Is this satire?
If you are being serious then, no- I am not going to go on record saying “Milton Friedman was wrong” because of Bernanke’s colossal mistakes. Just because somebody “studies” under somebody else doesn’t mean they have incorporated all of their wisdom and expertise. Bernanke has gone off the rails...
I said he studied and learned from what Friedman found about the 1930s. FED policy under Bernanke has led to a stable US price level.
That is what any central bank can do. So you are clearly an anti Friedman, Keynesian, I guess or you would as Friedman did understand what a central bank can do.
So go ahead and say Friedman is wrong and you are in the Keynesian camp that believes a central bank has some kind of magic wand to undo real shocks like Obamacare or oil prices or just plain Obama?