Sunday, May 9, 2010

Wile E. Coyote Economics

(Finally, now that school is over I get a chance to do those fun and creative nostalgic blogs that I said I'll be dedicated to creating. I haven't created a nostalgia based blog since the Scrooge McDuck Against the FED post and the Ghostbusters post.)

So what does Wile E. Coyote have to do with economics? It's simple. Everything that the government does simply makes things worse. They passed Sarbanes Oxley in 2002 which had the opposite effect of what they intended. The intent of the act was to "restore investor confidence" in U.S. Financial Markets. Instead, the SOA drove business outside of the United States. The number of American Companies de-registering from the U.S. Stock Exchange tripled a year after the law was passed.

The American Recovery and Reinvestment Act of 2009, otherwise known as the stimulus bill, was created as a response to the economic crisis of 2008 and the perceived threats of the future. The Emergency Economic Stabilization Act of 2008 was passed because those who supported it thought it was going to prevent a depression.

What marvelous foresight!

Not only are we entering Great Depression level unemployment, neither of these packages seemed to be getting us out of it. I know a predictable response: "the stimulus package wasn't big enough. We need more spending!" And if we buy into it, they'll manage to drag us deeper into the depression.

Like that rascally Looney Tunes icon, every time they react to something they make things worse. They keep cutting of all our economic branches. One day, they are going to strike at the root. Watch the video. I think you will get the symbolism.

Thanks to SpeedyStupidChicken for uploading this video. You can subscribe to his channel here.

[Update: After I finished this post I did a google search on "Wile E. Coyote Economics" and found this video and a few articles with the same idea (1,2,3). So much for me trying to be a blogging genius lol!]

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