Debate Tay Zonday and his Mama Economy

[mrsticky005]

First off I like Tay Zonday's videos. The dude has got talent.
But even if you don't like him you can still debate the lyrics
to his song "Mama Economy (The Economy Explained.)"

Here are the lyrics

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"

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

[Chorus]
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
Oxidate
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
Meri-tocracy
But there's more to the story--
Someone answer me!


and for those who want to watch the video

YouTube:

How accurate do you think the song is?
Does it explain the economy? Or does it need to do a bit of explaining?

[321zigzag3]

Lets hear your verdict first.

[TheBlackChidori]

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

What?

My gas costs alot more then bottled water.

[mrsticky005]

Originally Posted by 321zigzag3

Lets hear your verdict first.

I dunno. Some of it sounds reasonable but some of it I'm not so sure.
I'm not very good with economics. I mean I'm not an economist.
Hence why I wanted to discuss it here. Since maybe someone
here such as yourself would have a better idea.

Originally Posted by TheBlackChidori

What?

My gas costs alot more then bottled water.

I think he meant it in a way that you have to keep replenishing them
and keep repaying for them. Since you use water more often then
you use gallon you would be buying more bottle water than gasoline.

[Danielle]

I think it seems a bit off too, I am not sure in what way yet.
~edit~ I believe it is more accurately a picture of political policy rather than Economics.

[321zigzag3]

Originally Posted by mrsticky005

I dunno. Some of it sounds reasonable but some of it I'm not so sure.
I'm not very good with economics. I mean I'm not an economist.
Hence why I wanted to discuss it here. Since maybe someone
here such as yourself would have a better idea.

I am not an expert but I do know economics is a controversial subject because some think you can't predict it effectively thats why some think its a joke. I do know a very good professor of economics though.

Originally Posted by Danielle

I think it seems a bit off too, I am not sure in what way yet.
~edit~ I believe it is more accurately a picture of political policy rather than Economics.

In a I can see why.

[mrsticky005]

Originally Posted by 321zigzag3

I am not an expert but I do know economics is a controversial subject because some think you can't predict it effectively thats why some think its a joke. I do know a very good professor of economics though.



In a I can see why.

I think economics as far as predictions goes is a joke.
But not economics as far as learning from our mistakes isn't.