Howdy All,
A long time ago, in a land far far away (Minnesota), your Captain, because he foolishly thought the country still might be able to be saved, put together a video that was he effort to do what he could as a citizen to stem the flow of socialism.
The video was put up on the YouTube by a loyal reader, whose account has since been canceled.
I dug through the archives and found the "edited" version a buddy of mine had put together and reloaded it up there. It doesn't have all of the data, but it does have some funny moments due to his editing and is more or less a professional piece.
There are 6 parts.
I know you all don't watch all of the series and just watch the first one, but you'll miss the part about Jenifer Aniston if you don't watch them all.
Here is the link to the first one, you should be able to jump from part to part.
Some of you have expressed interest in just getting the DVD. I can burn copies, but you'll have to pay for the time and shipping. Shoot me an e-mail.
Markets (a.k.a. people) to blame for the housing crisis? Aw HELL no.
ReplyDeleteFED lowers interest rates -> savings decrease, investment increase -> capital stock is being depleted; new production processes are unsustainable because there is not enough savings to finish them in the future; time structure of capital is disturbed -> there's inflation as a reaction to new money -> FED increases interest rates to slow down inflation -> the depletion of capital becomes evident, unsustainable processes are stopped, the capital invested in those processes is written off, the labor bound to that capital is laid off.
The existence of FED is to blame for recessions completely. But I'm sure you're familiar with the Austrian business cycle theory.
Also, sub prime borrowers and the banks just performed voluntary market operations without negative externalities, they didn't violate anyone's property rights, therefore cannot be deemed morally wrong in this situation.
Was that another anti-Federal Reserve comment?
ReplyDeleteI'm sure the Federal Reserve causes problems especially when they act as political cronies. But there were always recessions, depressions, and panics before the Federal Reserve, so exclusively blaming them is stupid.