Macroeconomics lesson in two easy rap videos – Hayek v. Keynes – FIGHT!

Yo, son!

Hear the two macro heavyweights John Maynard Keynes (in the stimulus/top down corner) and F.A. Hayek (in the libertarian/bottom up corner) spit some fierce econ battle rhymes.

Professor and economist Russell Roberts is behind this piece of youtube brilliance.  Check out his excellent podcast at

Round 1

Round 2

Chef vs Meth

For more famous rap battles, two of the Wu Financial‘s finest duke it out here:

Why I hate the US Postal Service

No, really.  I hate them.

No, really. I hate them.

A dollar to ‘verify my identity’?  For security purposes!?  All my financial institutions changed my address for free, and they seem pretty darn secure.  Give me a break.  Better yet, break up this tax-sucking monopoly that tries to pass for a public service outfit!

Now don’t get me wrong, there’s plenty of other things that those useless minions at my local post office do besides nickel and dime their customers under the guise of protection like 1) frown.  2) Put up friendly signs providing helpful guidance like ‘NO FREE TAPE” and 3) go on break when there’s a line of people out the freakin’ door waiting to mail packages!

Keep in mind that these same folks lost about $5.1 billion (B)  in 2007, $3 B in 2008 and anticipate a deficit of roughly $6 B in 2009.  To read more criticism and why we should allow private companies and the magic of the internet overtake the post office, read this. Go here to REMOVE YOURSELF FROM JUNK MAIL LISTS that make up over half of USPS’s business (at rate subsidized by all us taxpayers!)

If you weren’t hopping mad already, below are some more awesome tidbits from Wikipedia that make me want to jam my hand in a blender running at ‘frappe’:

– “Congress has delegated to the Postal Service the power to decide whether others may compete with it” [Pop quiz to readers: if you were a giant, ineffecient, money-burning monopoly, would you rather have competition or not? Hmmm…]

– “FedEx and United Parcel Service (UPS) directly compete with USPS express mail and package delivery services, making nationwide deliveries of urgent letters and packages. Due to the postal monopoly, they are not allowed to deliver non-urgent letters and may not use U.S. Mail boxes at residential and commercial destinations. These services also deliver packages which are larger and heavier than what the USPS will accept, and unlike the USPS assign tracking numbers to every package.”  [So, Fedex and UPS accept packages that USPS won’t, and also assign *gasp* tracking numbers to every package so you’ll know where they are (what a novel idea; good thing USPS plans to implement that by 2013…)  Now remind me why these private companies aren’t allowed to deliver regular mail to our mail boxes as well??]

– “The USPIS has the power to enforce the USPS monopoly by conducting search and seizure raids on entities they suspect of sending non-urgent mail through overnight delivery competitors. For example: according to the American Enterprise Institute, a private think tank, the USPIS raided Equifax offices in 1993 to ascertain if the mail they were sending through Federal Express was truly “extremely urgent.” It was found that the mail was not, and Equifax was fined $30,000″ [WTF!?  So a company, of it’s own free will, chooses to use FedEx instead of USPS, presumably because it’s more reliable and/or cheaper, and it’s fined!  That’s like me buying groceries at the less-expensive store Safeway within walking distance of my apartment and getting fined by the expensive QFC a mile or two up the road!]


University of Washington’s Foster School of Business’s “State of the Economy Forum”

Here’s a 70 minute video on the state of the economy featuring University of Washington Foster School of Business economics and finance professors Karma Hadjimichalakis and Ed Rice.

(Note to those who care: Professor Rice was by far my favorite professor during my UW MBA program.)

Original link info:

State of the Economy Forum from Foster School of Business on Vimeo.