I had posted this awesome rap video on my facebook page earlier this year, but never got around to making a blog post about it. Another great video that lays out the craziness of the “boom and bust” cycle in modern economies. What’s more crazy is that the twisted version of Keynesian economics pursued by governments today would have Keynes himself rolling in his grave in disgust. Somehow politicians conveniently forgot that key little detail that governments are supposed to SAVE when times are good. Instead, politicians spend like nuts in good times, and SPEND LIKE MANIACS when times are bad. Why let such key details interfere with the opportunity for politicians to promote their own agendas… Enjoy the show!
ps. If you enjoyed this video, be sure to check out the links below for the sequel!
Tags: alan greenspan, austrian business cycle theory, bailouts, ben bernanke, boom and bust, credit crisis, deficits, economics, f.a. hayek, federal reserve, friedrich august von hayek, gold, great depression, inflation, interest rates, john maynard keynes, keynesian, liquidity trap, monetary policy, payoffs, quantitative easing, rap, stimulus, timothy geithner
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