MSNBC to Ron Paul: How Could It Be That You Knew This Would Happen?

Here is what Ron Paul said in 2003:

"The special privileges granted to Fannie and Freddie have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions... like all artificially-created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will find it difficult as their equity is wiped out. Furthermore, the holders of the mortgage debt will also have a loss. These losses will be greater than they would have otherwise been had government policy not actively encouraged over-investment in housing."

- Ron Paul to House Financial Services Committee, 10th September 2003.

Ron Paul explains in the video below how he was able to make this prediction. Austrian economics.

Economic Coordination and the Business Cycle (video)

My first upload to youtube...

Economic Coordination and the Business Cycle

 

Austrian Business Cycle Theory - How Government Manipulation of Interest Rates Causes Booms, Busts, Recessions and Depressions

This presentation starts by looking at how the market process works: coordination through prices and profits.

The two alternative theories of the business cycle are introduced:

- The non-Austrian theories, which blame the cycle on the free market and call for government to take control.

- And the Austrian Theory of the Business Cycle (ABCT), which blames the cycle on government manipulation of interest rates.

The boom, bust and recession stages of the ABCT are analyzed in detail. It is concluded that government actions only prolong recessions and make them more severe. And the business cycle would not occur with interest rates determined on a free market.

This presentation was first delivered in July 2010.

Austrian Business Cycle Theory - How Government Manipulation of Interest Rates Causes Booms, Busts, Recessions and Depressions

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"Fear the Boom and Bust": A Hayek vs Keynes Rap Anthem

The premise: economists F. A. Hayek and John Maynard Keynes are resurrected, and are back to debate the causes of the current financial crisis.  The debate takes the form of a rap.



http://www.youtube.com/watch?v=d0nERTFo-Sk

Economics in One Lesson: Wars, Governments, Price Controls and the Boom-Bust Cycle

Based on the Henry Hazlitt book, this presentation is an introduction to applied economics. Hazlitt’s lesson, to consider what is unseen as well as what is seen, is applied to various situations: broken windows, wars and governments.

The market process for allocating resources is introduced, and the effects of price controls, such as the minimum wage law, on resource allocation is examined.

Finally, the One Lesson and the theory of price controls is applied to the phenomenon of the boom-bust cycle, which is explained as a necessary consequence of government manipulation of interest rates.

This presentation was first delivered in June 2010.  No previous knowledge of economics is assumed.

Economics in One Lesson: Wars, Governments, Price Controls and the Boom-Bust Cycle

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