On February 14 I wrote a post highlighting Milton Friedman’s “Free to Choose” television series of 1980.
From time to time I plan on commenting on various material contained therein as much of it is highly relevant to issues we are currently encountering.
In Volume 9 there are a couple of comments made, at roughly the 40:36 mark and 42:40 mark, by Congressman Clarence J. Brown and moderator Robert McKenzie, respectively. In essence, they are commenting upon how the experience of The Great Depression has had a great psychological impact upon the country, and as such drives many of our economic fears and actions. This commentary is especially notable as the series was filmed in 1980.
This mindfulness of The Great Depression seems highly elevated in current times as well. This is seen in numerous ways.
For example, Ben Bernanke’s background includes being considered a foremost scholar of The Great Depression.
Furthermore, during and after “The Financial Crisis” there were innumerable mentions and comparisons to The Great Depression, many by policy makers. I have highlighted many of these instances in past posts.
A Special Note concerning our economic situation is found here
SPX at 1273.72 as this post is written