A NYC radio station runs a segment called "Everyday Racism".
The guest in this clip was Big Boi Patton of Outkast.
Don't congratulate Big Boi on the Obama victory just because they're both black. The similarities end there. Big Boi is smart and has some talent, and had sense enough to vote Libertarian.
Here's a fun video. My favorite Outkast song, prob'ly because it isn't rap, and I'm too old for the other stuff. I don't care how old you are, this is good stuff:
The long-awaited Keynes vs. Hayek smackdown rap video, courtesy of the good folks at Cafe Hayek. For those new to the conflict, Fast Freddy Hayek, the bald guy, believed that markets, economies, and ummm....YOU should be left alone. Keynes, the guy in the dark suit, believed that everything should be run by people from Cambridge.
Here are the lyrics: (The phrase "animal spirits" was Keynes' term for acting on emotion rather than logic, or acting because of a desire to do something rather than nothing. IMAO, that's a perfect explanation for why people favor Keynesian flurries of spending whenever there's a financial crisis. But that's just me.)
We’ve been going back and forth for a century [Keynes] I want to steer markets, [Hayek] I want them set free There’s a boom and bust cycle and good reason to fear it [Hayek] Blame low interest rates. [Keynes] No… it’s the animal spirits
[Keynes Sings:]
John Maynard Keynes, wrote the book on modern macro The man you need when the economy’s off track, [whoa] Depression, recession now your question’s in session Have a seat and I’ll school you in one simple lesson
BOOM, 1929 the big crash We didn’t bounce back—economy’s in the trash Persistent unemployment, the result of sticky wages Waiting for recovery? Seriously? That’s outrageous!
I had a real plan any fool can understand The advice, real simple—boost aggregate demand! C, I, G, all together gets to Y Make sure the total’s growing, watch the economy fly
We’ve been going back and forth for a century [Keynes] I want to steer markets, [Hayek] I want them set free There’s a boom and bust cycle and good reason to fear it [Hayek] Blame low interest rates. [Keynes] No… it’s the animal spirits
You see it’s all about spending, hear the register cha-ching Circular flow, the dough is everything So if that flow is getting low, doesn’t matter the reason We need more government spending, now it’s stimulus season
So forget about saving, get it straight out of your head Like I said, in the long run—we’re all dead Savings is destruction, that’s the paradox of thrift Don’t keep money in your pocket, or that growth will never lift…
because…
Business is driven by the animal spirits The bull and the bear, and there’s reason to fear its Effects on capital investment, income and growth That’s why the state should fill the gap with stimulus both…
The monetary and the fiscal, they’re equally correct Public works, digging ditches, war has the same effect Even a broken window helps the glass man have some wealth The multiplier driving higher the economy’s health
And if the Central Bank’s interest rate policy tanks A liquidity trap, that new money’s stuck in the banks! Deficits could be the cure, you been looking for Let the spending soar, now that you know the score
My General Theory’s made quite an impression [a revolution] I transformed the econ profession You know me, modesty, still I’m taking a bow Say it loud, say it proud, we’re all Keynesians now
We’ve been goin’ back n forth for a century [Keynes] I want to steer markets, [Hayek] I want them set free There’s a boom and bust cycle and good reason to fear it [Keynes] I made my case, Freddie H Listen up , Can you hear it?
Hayek sings:
I’ll begin in broad strokes, just like my friend Keynes His theory conceals the mechanics of change, That simple equation, too much aggregation Ignores human action and motivation
And yet it continues as a justification For bailouts and payoffs by pols with machinations You provide them with cover to sell us a free lunch Then all that we’re left with is debt, and a bunch
If you’re living high on that cheap credit hog Don’t look for cure from the hair of the dog Real savings come first if you want to invest The market coordinates time with interest
Your focus on spending is pushing on thread In the long run, my friend, it’s your theory that’s dead So sorry there, buddy, if that sounds like invective Prepared to get schooled in my Austrian perspective
We’ve been going back and forth for a century [Keynes] I want to steer markets, [Hayek] I want them set free There’s a boom and bust cycle and good reason to fear it [Hayek] Blame low interest rates. [Keynes] No… it’s the animal spirits
The place you should study isn’t the bust It’s the boom that should make you feel leery, that’s the thrust Of my theory, the capital structure is key. Malinvestments wreck the economy
The boom gets started with an expansion of credit The Fed sets rates low, are you starting to get it? That new money is confused for real loanable funds But it’s just inflation that’s driving the ones
Who invest in new projects like housing construction The boom plants the seeds for its future destruction The savings aren’t real, consumption’s up too And the grasping for resources reveals there’s too few
So the boom turns to bust as the interest rates rise With the costs of production, price signals were lies The boom was a binge that’s a matter of fact Now its devalued capital that makes up the slack.
Whether it’s the late twenties or two thousand and five Booming bad investments, seems like they’d thrive You must save to invest, don’t use the printing press Or a bust will surely follow, an economy depressed
Your so-called “stimulus” will make things even worse It’s just more of the same, more incentives perversed And that credit crunch ain’t a liquidity trap Just a broke banking system, I’m done, that’s a wrap.
We’ve been goin’ back n forth for a century [Keynes] I want to steer markets, [Hayek] I want them set free There’s a boom and bust cycle and good reason to fear it [Hayek] Blame low interest rates. [Keynes] No it’s the animal spirits
“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”
John Maynard Keynes The General Theory of Employment, Interest and Money
“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
And now, compliments of Uncle Fester, here's something completely different.....
Its gettin thicker than dreadlocks they treat us like we're dread scot don't wanna see the feds pop or be the one that they'd stopped or get in trouble cause I talked shit to their mascot frickin' busybodies need to go and buy an ascot tellin' me you own me then makin sho' i'm taxed out maxed out, deep in-debted from the easy credit that the fed imbedded then they betted it all be copacetic if they were the medic but forget it the people are gettin' pissed blowin up like some unleaded they want control unfettered but ya'll know that smells fetid like the craphole that we're headed to if they don't let me do me and you do you and all the guns in the gunverment won't amount to a twenty-two if they keep on stompin' on amendment number two and we don't even need you take your welfare and your brainwashing free-school and ya'll are so see through; easy to see you is evil
chorus: Nobody owns me ya'll haters don't I own me so back the f*** off (x 2) I make my own rules take my own tools you ain't in my shoes no you ain't get to choose I ain't pay you dues. I pay 'em for my self don't expect shit from me and I ain't need your help
and in case you didn't know this song is for the parasites the feeders that bleed us and treat us like they're the hand and we're the dice no utopian paradise to be had from any plan the world's too complex for any man to comprehend all the supply and again all the demand when the few control the view their mistakes are multiplied the decisions should be ours like our bodies. Let's take back our lives Only a slave if you submit and ya'll know I got some fight! and this ain't racist its for blacks, whites and asians middle eastern people, latinos and everyone who wants to be free, so we'll even let it slide if you're emo I never signed no social contract I'm about to have to repo myself, for my health and my wealth put your bills back on the shelf capitol hill can go to hell we should put them punks in jail we could live our lives ourselves....
chorus
So who's to say Barack Hussein knows what's best for me? I knock the man and not the name cause in my family tree could be husseins so I take aim at tyranny times three branches that act just like geriatric babysitters poonannies. but really you'll get beat-up if you don't follow their edicts there's a law against living year its worse than shariah. but where can I go if this whole world is socialist though we know that it failed for the soviets. Its 1984 people please notice this. F*** a tax feeder time to overthrow them tics its in the declaration Jefferson wrote the shit So choose to be a free man governments we're over it governments we're over it!
