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cooljj82 (November 30, 1999 at 12:00 am)
@RBrenizer Also part of what led up to the depression is the same thing that got us into this mess. Excess liquidity, caused by low interest rates, causing stocks and real estate to be over valued. So it is interesting you chose the depression as your example of free markets. There is alot of similarity in the 20s and the 90s. Also the solution politicians came up with in the 30s was similar to what we are doing now. Inflation, stimulus, public works projects like Mr. Rushmore, ect...
cooljj82 (November 30, 1999 at 12:00 am)
@RBrenizer Also you have to ask yourself why did people make bad investments? What events led to them all making bad investments at once? The securitization of mortgages provides an atmosphere for that. The "to big to fail" doctrine that has been around for 35 years helps to create that enviroment. There is alot more than market forces at work here. To simplify it down to "people made bad investments" isn't an analysis at all.
cooljj82 (November 30, 1999 at 12:00 am)
@RBrenizer Woah, we didn't have free market interest rates in the Great Depression. The Fed has been around since 1913. There is one thing the government should have done which is not allow banks suspension of specie payment which is blatant fraud.
SalientK (November 30, 1999 at 12:00 am)
@3wrw89 "A few bad rock songs"? Yet "most rap songs are garbage"? Yeah, get out of here with that. 99% of *everything* is garbage. Pop music *in general* only has a handful of topics sung over the same four chords. Remove head from ass.Btw, if you think this is a good rap song, then I question your judgement skills. Sure, it talks about something mildly important, but from a musical perspective it's terrible. The lyrics are awkward, the flow is ungainly, and the beat is trite and repetitive.
3wrw89 (November 30, 1999 at 12:00 am)
@SalientK It's not a double standard. It's an observation. Sure, there are a few bad rock songs. My point is that most rap songs are garbage. Rappers have a limited number of topics they talk about. Their albums are poorly written & poorly performed. It's been that way for at least 20 years.This video is about something that matters, and the lyrics use good rhyme schemes to make a point. It's great to see a good rap video get some attention & I stand by my original comment.
spockezri (November 30, 1999 at 12:00 am)
@xxWhyIsTheRumGonexx I think so, Keynes seems arrogant and a little immoral in this. I agree, Hayek is the best <3 (As my whole Spanish class learned today from my rant about the economy xD)
RBrenizer (November 30, 1999 at 12:00 am)
Keynesian economics got us into the crisis? Low interest rates lead to malinvestment? Bad investments made by those not being watched. "The free market". I couldn't disagree with your analysis more. Low interest rates, high interest rates. So let's get rid of the Fed and let interest rates set themselves and see how that goes. Did you read about the Great Depression? The free market dynamics that created it?
xxWhyIsTheRumGonexx (November 30, 1999 at 12:00 am)
Am I getting the idea that the producers of this fab vid prefer Hayek? Do they? (I do.)
semperFi4ever100 (November 30, 1999 at 12:00 am)
@RBrenizer Even if you assume that the worst of the crisis is already over, it was Keynesian economics which got us here in the first place. The fact that the Fed kept interest rates artificially low lead to malinvestment. Bad investments crash inevitably and that's just what we saw in 2008. Now Keynes might have solved this problem, but only at the cost of us, the people, sitting on mountains of debt and shares of unprofitable companies, as well as an inflated dollar.
jezza1789 (November 30, 1999 at 12:00 am)
@Loathomar Well their is a difference when investors create a bubble it ussually ends quickly when the money flow stops, and only the participants and their shareholders are hurt. On the flip side when the Fed sets interest at 0% the bubble getsbigger and bigger because of all the cheap money and when it blows the entire economy is affected. |
