The Bubble | movie | 2018 | Official Clip - video Dailymotion

Diving deep into the true causes of the Great Recession, the financial crisis of the 2010s, renowned economists, investo | dG1fSWhHajRsRmZYMUU

Transcript

00:00Well, the stagflation in the 1970s, we had rising price inflation and rising unemployment at the same time,

00:06which meant, according to the model of the Orthodox Keynesians, was impossible.

00:12In the 70s, stagflation came along and they were so surprised, and they said,

00:16oh, prices are going up and the economy is weak.

00:19When we were buying oil, in 1970, we were paying for it in gold.

00:24But starting in 1971, we were paying for it in paper.

00:27OPEC wasn't going to sell us oil at the same price for paper as when they were getting gold.

00:32And so, you know, it wasn't really prices going up, it was the value of our money going down.

00:37Hey, Mr. President.

00:40All of you congressmen too.

00:44You got me all frustrated.

00:48And I don't know what to do.

00:52Trying to make a dollar.

00:55Can't even save a cent.

00:58Takes all of my money just to eat and pay my rent.

01:05That's why I got the blues.

01:10Got those inflation blues.