Monday, 31 March 2014

Money for Nothing

No, not Dire Straits, although this could be said to be relating to a situation in dire straits. Instead this is a documentary about Money for Nothing: Inside the Federal Reserve.

This movie takes us through the history of the American Economy as it relates to the Federal Reserve. From the creation of, and through various failures, we get the history and see that the recent crash wasn't new. And then it talks about the recent crash... and about it's still doing things wrong.

This movie places the Federal Reserve at the heart at various collapses, when it pulled the wrong lever or didn't pull the lever at all. For one reason or another, the Federal Reverse failed to do its job, although this wasn't helped by the bills placed on it to fulfil, or the various chairmen who had their own priorities about how things should work. Greenspan gets a lot of screen time, and there is a lot of picking over what he should have done.

However, while it does discuss the recent crash, and that there is still work to do... this movie doesn't really point out what should happen, only that something needs to happen. Other than as an interesting historical lesson, I'm not sure what their overriding point is.


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