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Monetary Cocaine: How The Fed Steals America's Savings

5 years ago31 views

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Monetary Cocaine: How The Fed Steals America's Savings
Commonwealth Club - SF Club Office
David Stockman, Director of the Office of Management and Budget, discusses The Great Deformation: How Crony Capitalism Corrupts Free Marks and Democracy.Stockman, one of the architects of the Reagan Revolution, says that crony capitalism has made fools of us all, transforming Republican treasury secretaries into big-government interventionists and populist Democratic presidents into industry-wrecking internationalists. Stockman will discuss where he believes capitalism went wrong in this country and how it might be restored. His analysis questions the assumptions of Keynesians and monetarists alike, arguing that both "liberal" and "neo-conservative" interference in markets can be damaging and often dangerous. Stockman was elected as a Michigan congressman in 1976 and joined the Reagan White House in 1981.

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