Gasp! An amusing economics video

Here's something new for this blog. It is a country music video that is about economics and is actually a little bit instructive.

Zimbabwe or Japan.

The point is that what the Fed has done would normally always cause devastating inflation that would destroy the country. When Zimbabwe did what we are doing now, the ended up with 5 quintillion percent inflation. that means they had people with bullhorns in stores shouting out prices because the prices went up pretty much every minute. A loaf of bread was like 800 billion dollars.

Japan decided to prop up excessively high real estate prices, and bail out their banks, creating walking-dead zombie banks, which we have made sure to do too. What they have ended up with is a zombie economy for 20 years so far, permanent recession. By the way, the bail outs and propping up didn't work. If you bought a house for $100,000 in 1990, it would be worth about $40,000 today.

Here's an article about something I wrote about last week. Remember the article where the woman was claiming social security has plenty of money until 2042? I said they have zero dollars and zero cents and start using IOU's backed with Chinese money this year. Here is an article explaining it more fully.

Social Security starts using shoebox full of IOU's