December 31, 2015

Some Thoughts on The Big Short and Sound Economics

If you want to watch an entertaining film about the financial crisis, then watch The Big Short. If you want to actually understand what caused the financial crisis, then skip it and read a book by an Austrian economist. 

TBS pushes the leftist party line by blaming big business and calling for more government regulation. What the filmmakers never tell you, though, is that the real reason the banks gave all those bad loans is because they were forced to by government regulations designed to increase home ownership. Was there greed, fraud, and malfeasance involved too? Sure. But the big banks were only able to get away with it all because they knew they'd get a government bailout in the end. Does that sound like a free market to you? It's not. It's the fascistic combination of big business and big government that has been the norm in the U. S. for over a century now. Because leftists misunderstand economics so badly, they are actually calling for more of the thing that caused the crisis (government regulation) while blaming the one thing that could prevent another one (free market Capitalism). 

One other criticism: I was really hoping the four leads (Pitt, Gosling, Carell, and Bale) would share a scene together, but they didn't. The four of those guys on screen together really would have been something special. 

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