Here's a quote from Amity Shlaes' article Economics By Cartoon, The best commentary on Fed policy currently out there is a do-it-yourself animated short called Quantitative Easing Explained.
The best commentary on Fed policy currently out there is a do-it-yourself animated short called Quantitative Easing Explained. The 6-minute, 48-second cartoon features two stuffed animals, drawn in Pokémon style, talking about monetary policy. Specifically, the bears--or are they dogs?--point out the illogic in the official Federal Reserve position that today the danger of deflation is greater than that of inflation. The animals also criticize the Fed officials' recent pursuit of QE2, the acronym for its decision to inject $600 billion into the economy. More than 3.5 million people have watched the video, and it was posted on YouTube in November
I enjoyed the article for several reasons.. First, it was nice to find out Forbes had come to the same conclusions I had. One of those conclusions was that economists don't want the average person to know what they're saying. As Will Rogers once observed, "Sometimes even the economists are right"
A second similar concusion; Most of us want to know at least the basics about out economy, but economists would rather have us keep believing we're not smart enough to understand. And a third, most people in the media, don't know much more about economics than we do... You can read the rest of Amity Shlae's editorial by clicking Right Here.
Amity Shlaes also mentioned a rap video Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem that explains the differences in viewpoints between the two dead economists that seem to have some much effect on America's economy today.. Almost everyone has some ideas what John Keynes so called Keynesian ideas where.. That's the philosophy our Government has been following for a long time... easy credit (especially for the Government) and massive spending will get you out of anything. Fredrich Hayek on the other hand, believed that a free market approach, allowing businesses to grow or fail without any government intervention would lead to long term prosperity..... Take a couple minutes and enjoy a more modern explanation of the difference between the two men.
I'm sure some of the people who read his have done their share promoting The Keyensian Spending Theory, most realized it's only fun until the bills come due.. Sure, Government has more ways to shuffle numbers and deeper pockets than we do, but if it doesn't work for us, how long can it work for Government.