Jeffrey Tucker reviews ‘The Big Short’

I saw The Big Short on Christmas day and I enjoyed it so much that I was planning on writing up a review for the blog. But then I saw that Jeffrey Tucker already summed it up better than I could hope to, so why even bother? I’ll just forward you guys to it and go on being productive in other areas of my life (guitar practice and working on that summer 6-pack, mostly).  Here’s a sample:

Depending on the knowledge you bring to it, The Big Short — as entertaining as it is — can be extremely misleading. Not wrong. Just incomplete. Anyone who tries to sell an explanation of the 2008 financial crisis that does not mention the Fed is no more trustworthy than a trader who offered to sell you an MBS at top dollar in 2007.

Why should we care about how the 2008 crisis is interpreted? As with the 1929 crash, the story we tell has much to do with the policies that are created later. If 2008 was the failure of capitalism, massive new regulations, controls, and taxes might make sense. If 2008 traces to centralized mismanagement of money and banking, a very different policy follows.

 

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2 thoughts on “Jeffrey Tucker reviews ‘The Big Short’

  1. Ron_H. January 3, 2016 / 3:06 am

    FYI the documentary “Money For Nothing” recommended by Tucker is available on Netflix. I’ll be watching it soon. Thanks for the reference.

    Like

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