I.O.U.S.A. released
Posted on August 22nd, 2008 by bile Tags: debt, Federal Reserve, I.O.U.S.A., inflation, national debt, Ron PaulBy the guy that brought you Wordplay.
Looks good. I enjoy that some people are calling it ‘The Inconvenient Truth.’ Looks like Ron Paul supporters are generally in agreement that it’s worth seeing. From what I can gather it’s a bit on the simplistic side. Not in that it fails to go into economic theory but that it fails to show the whole picture and connect all the dots. Do they explain the Federal Reserve? Why it truly exists? How its used? How it led to what the movie’s about? I suppose it’s a start.
Update:
Looks like I was right. From Stephen Fairfax over at the LewRockwell.com blog:
I.O.U.S.A., I Want a Refund
The film was billed as inspired by Empire of Debt, but it is an extraordinarily poor and biased rendering of a very good book. While Bonner and Wiggins provided a thoughtful and entertaining exposition of the entire problem of excessive debt and credit, the movie focussed entirely on government debt.
…
The notion that government is the source of this problem and unlikely to be the solution was never raised. The book made this point clear, the movie carefully ignored it. The movie focussed exclusively on the problems of paying this government debt; the book explored other, more realistic options, such as repudiation and inflation. The book explored the enormous malinvestments, misallocation of resources, folly, and harm caused by the same policies that allow such a monstrous pyramid of debt and credit to be created in the first place. The movie studiously ignored any mention of the harm these policies have caused to civil society.
5 Responses to “I.O.U.S.A. released”
Leave a Reply
You must be logged in to post a comment.
August 22nd, 2008 at 12:48 pm
umm… not to mention that the same AARP head, along with Peterson, are all about NationalServitude.
August 22nd, 2008 at 12:56 pm
Doh. I recognized that but forgot to put it in the post. Thanks. I wonder if and what the relation between them is.
August 22nd, 2008 at 2:46 pm
<sarcasm>Pshaw… debt. Everything is cool, just buy more stuff and it’ll work out.</sarcasm>
August 22nd, 2008 at 2:56 pm
GW? Is that you? Did you haxor bosco’s account?
Damn libertarian socialists sharing their accounts.
August 22nd, 2008 at 6:55 pm
I wonder if and what the relation between them is.
according to a couple of reviewers over on LRCblog, it’s all about paying more taxes and forced saving accounts, and, of course, the shameless promotion of their plan in contrast to the memory hole.