Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Monday, April 20, 2009

Never let a Crisis go to Waist

..... For those of you who think that Rahm Emanuel, invented this.....

I'd bet I can find some Classical references.... but the first I heard of it it was a Classic Milton Friedman thing.

Now, you never have real changes unless you have a time of crisis. And when you have a time of crisis what happens depends on what ideas are floating around, and what ideas have been developed, and thought through, and are made effective. And I believe the role that people like myself have played in the transformation of public opinion has been by persistently presenting a different point of view, a point of view which stresses the importance of private markets, of individual freedom, and the distorting effect of governmental policy. That may not persuade anybody, in one sense, but it provides an alternative when the time comes that you have a crisis and people realize that you have to change.
5001
"Only a crisis - actual or perceived - produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes the politically inevitable."
Milton Friedman



Rahm was probably 10-20 years old when friedman was saying these things.

2 comments:

Tony said...

Excellent find. Uncle Milty the exploiter of crises!

Eric said...

the republicans have known this, they have just been shills everytime they bring this up...

Not to say there is an "innerCircle" but they know the same thing..

and of course that is what they are doing with the Libritarians and their "Tax protests"

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