The following is a very rare interview with legendary economist Anna Schwartz. We’re frequent writers of Scwartz here at TPC and rightfully so – she was Milton Friedman’s right hand woman. In an ironic twist, she is incredibly critical of Ben Bernanke’s approach to the current crisis despite him vowing never to allow the Great Depression to occur again and crediting Friedman and Schwartz for providing the framework to combat a depression. She touches on many of the topics I hammer home here such as the fact that the toxic assets haven’t been dealt with and the fact that you can’t have a functioning capitalist society where the losers don’t lose. If you want to hear it like it is from someone other than myself listen to Schwartz. She knows far better than I do….
Fast forward to the 9 minute mark to hear Schwartz. She is a living legend and this is a must hear interview: