Home > MMT, Video > Instant Classic Shooting up the Charts

Instant Classic Shooting up the Charts

November 17, 2011

This is an instant classic.  Do not underestimate the power of this.  ht Clonal:


Categories: MMT, Video Tags: , ,
  1. November 17, 2011 at 2:34 pm

    that was awful. I’m banning your blog for 3 days from my rss feed for getting me to watch that.

    • TC
      November 17, 2011 at 3:20 pm

      lol! What exact notes didn’t you like? 😉

      Yes, perhaps “Instant Classic” isn’t a good description.

    • beowulf
      November 17, 2011 at 7:26 pm

      David, you have the taste of an Albanian mobster. That is the most kickass video ever made (except for this one).

  2. beowulf
    November 17, 2011 at 3:51 pm

    Ha ha its Mr. Chocolate Rain, Tay Zonday.

    He had a web redemption on Tosh’s show.

  3. beowulf
    November 17, 2011 at 5:39 pm

    That is an astonishingly good video, the guy has a better grasp of monetary economics than most economists (“The money for your loan gets created on the spot”). Its like Randy Wray wrote the lyrics. Speaking of which (and yes Tay machine guns out every word here):
    Are you confused about the economy? Well have no fear –
    I’m going to explain the American economy right now

    +The dollar just think of it like
    a promise from the government
    But the value of the dollar
    has to be there to be relevant

    The value of the dollar comes from
    China and Iran
    When they put their cash reserves
    in a U.S. dollar plan –

    +They buy treasury bonds from
    The Federal Reserve
    We say “we owe you extra money
    cause you gave us some of yours”

    And that’s a big part
    of the National Debt
    All the interest that we
    haven’t paid to China quite yet –

    +And a hundred other countries
    Cause we’re such a good investment
    The whole world gives us money
    We say “Hey we’ll pay you interest!”

    This is how money is created from air
    Bank bailouts, federal budgets
    Money isn’t really there –

    +It’s an I.O.U., remember dollars are a promise
    When you borrow from a bank
    It’s not from other depositors

    The money for your loan
    Gets created on the spot
    Then they put it in your name
    Gamble on your life and body –

    +But if you lose your job
    Then you were a bad bet
    If a million lose their jobs
    Then we have a recession

    Here’s the dirty secret
    Your labor’s too expensive
    Wall Street wants you spending money
    But they never want to pay you –

    +In your life cash and credit
    They are very different things
    But your credit’s someone else’s cash
    Once it leaves your name

    This is why money is debt
    And your debt is good for
    Wall Street prosperity –

    +And economic growth since the 1970s
    Is consumers getting credit
    Without wages increasing

    So when they talk about the housing crisis
    They never say we need to lower housing prices –

    +We need ^better devices
    To afford high prices
    Meaning higher debt lower interest
    Cause you’re underpaid to begin with

    That’s the cycle we’re in
    We don’t understand so
    All we can do is question

    Mama economy make me understand
    All the numbers why Daddy’s on a welfare plan
    ‘Turnin thirty forty fifty gotta move in with my parents
    And the stocks go up but the jobs disappear

    +^Because wages barely grew for 40 years
    When you buy stuff
    They delay the cost of ownership

    You can’t afford it
    so they make it to depend
    On endless small transactions
    Which is more like renting

    +You pay more for printer ink
    Than you do for gold and
    More for bottled water
    Than you do for oil

    Razor blades are made to
    So you’re forever in debt to them
    Just to shave

    +It’s a type of socialism
    called market socialism
    The best designed product
    Meets a need and doesn’t last

    We subsidize waste
    With landfills and holidays like
    Earth Day teachin’ kids:
    Recycle please

    +Kids won’t learn in school
    we live one worldview
    neoliberal economics
    In all of our politics

    They don’t ask why corporations
    are human citizens
    Or why grandma pays more taxes
    Cause she lacks stock dividends

    +Or why private bankers
    Print the public money
    Or why democracy is broken
    Cause their leaders won’t be cutting

    Loopholes or subsidies
    For constituent industries
    Putting legislative bodies
    In a deep freeze

    +So the Ph.Ds and the G.E.D.s
    Cry with Ayn Rand down at the temp agency

    Sayin’ “we believed in
    But there’s more to the story–
    Someone answer me!


    • TC
      November 17, 2011 at 5:44 pm

      It is awesome in its’ own way. I was shocked that anyone would write a song. I agree – I was floored by the lyrics.

      The money for the loans line is shocking. Who is this guy?

      • TC
        November 17, 2011 at 5:48 pm

        I just reached out to him.

  4. Dunce Cap Aficionado
    November 18, 2011 at 9:56 am


    Thank you so much for that. Made my Friday.

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