Debtor's Prison

Very interesting and funny government propaganda for inflation, produced by MGM in 1933. It was written for the masses, and attemps to describe in the simplest of terms how money works, what inflation is, and how every farmer and debtor out there will be saved from financial difficulties by the wonderful effects of inflation. I'm really interested in what an "Inflation for the Dumb Masses" will look like in 3D once the media starts selling us country folk on the benefits of inflation in the near-term future.

by MAAA on February 20, 2009

OMG, he looks so good on prime time!! Lot of good economic forecasts, etc, but the REEL HIGHLIGHTS: When asked if he made a mistake letting Lehman fail, he outright LIES by saying he didn't have the tools. Uncle Benny lets us all know he has a temper by slamming the phone down - how cute! We even see a rare view of him without a suit jacket on - Mainstreet Benny is here to stay. He smirks as describes how he simply uses "his computer" to "effectively print money" - glorious!

by MAAA on March 28, 2009

REEL HIGHLIGHTS: He warns us we are close to a second Great Depression, unless we avoid deflation - oooohh. He says he believes all the banks are solvent, he is in the process of "stress testing" them, and he promises to not let any other bank fail. The biggest risk is lack of political will... *sigh* remember the good old days of an independent Fed? Uncle Benny Shalom takes us to his home town and tells us about his grandfather Jonas Bernanke, wow, my heart is melting, Uncle Benny I'll take the midnight train to Mainstreet with you any day!

by MAAA on March 28, 2009

Uncle Benny describes the regulatory system like a "sand castle in the beach", taking small waves in stride but crumbling under a big breaker. He humbly admits that during the GCC he could have done "more", "a better job" - how nice. Finally asks for tougher and systemic regulation - what a surprise. He tells us the first sign of a recovery will be when a bank successfully raises private equity. His outgoing message to the American people: "The Fed is here, the Fed has a plan, have some patience, and for God's sake believe me, we will recover someday."

by MAAA on March 28, 2009

No media event series brings me more joy than watching Ron Paul try his darned hardest to get Dr. Bernanke to admit the Fed's many fundamental flaws, mistakes and questionable policies. It is a sad prisoner geek's version of celebrity deathmatch. Monetary/economic theory highlights: inflation comes from wanton expansion of the money supply, not merely as reflected in prices, the "pump,pump,pump" (a classic) and the Fed's inability to control inflation from soaring even to a CPI of 5% and PPI of 12% at the time of the video.

by MAAA on February 20, 2009

Dear Uncle Benjamin lovingly explains to all of us many of his recent actions and the economic mechanisms behind them. I will periodically post important "communications" past and present where Bernanke has always so clearly postulated his intentions, strategies, plans, forecasts and economic beliefs. A little on the long side, but chocked full of off-the-cuff goodness. Highlight reel: When asked about the Austrian School's belief the Fed should be dismantled, Uncle dances the night away in a veil of confused secrecy.

by MAAA on February 20, 2009