I’ve seen some pretty elaborate and cool Rube Goldberg machines, but OK Go takes the cake with this massive, two story machine done in time with their song This Too Shall Pass! I don’t even want to begin thinking how long it took to build this and how many takes it took to get it right…

So great to see new videos featuring the Muppets!

My fellow economics geeks out there might enjoy this – EconStories.tv brings us Fear the Boom and Bust.

In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there’s a “boom and bust” cycle in modern economies and good reason to fear it.

We’ve been going back and forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No… it’s the animal spirits

[Keynes Sings:]

John Maynard Keynes, wrote the book on modern macro
The man you need when the economy’s off track, [whoa]
Depression, recession now your question’s in session
Have a seat and I’ll school you in one simple lesson

BOOM, 1929 the big crash
We didn’t bounce back—economy’s in the trash
Persistent unemployment, the result of sticky wages
Waiting for recovery? Seriously? That’s outrageous!

I had a real plan any fool can understand
The advice, real simple—boost aggregate demand!
C, I, G, all together gets to Y
Make sure the total’s growing, watch the economy fly

We’ve been going back and forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No… it’s the animal spirits

You see it’s all about spending, hear the register cha-ching
Circular flow, the dough is everything
So if that flow is getting low, doesn’t matter the reason
We need more government spending, now it’s stimulus season

So forget about saving, get it straight out of your head
Like I said, in the long run—we’re all dead
Savings is destruction, that’s the paradox of thrift
Don’t keep money in your pocket, or that growth will never lift…

because…

Business is driven by the animal spirits
The bull and the bear, and there’s reason to fear its
Effects on capital investment, income and growth
That’s why the state should fill the gap with stimulus both…

The monetary and the fiscal, they’re equally correct
Public works, digging ditches, war has the same effect
Even a broken window helps the glass man have some wealth
The multiplier driving higher the economy’s health

And if the Central Bank’s interest rate policy tanks
A liquidity trap, that new money’s stuck in the banks!
Deficits could be the cure, you been looking for
Let the spending soar, now that you know the score

My General Theory’s made quite an impression
[a revolution] I transformed the econ profession
You know me, modesty, still I’m taking a bow
Say it loud, say it proud, we’re all Keynesians now

We’ve been goin’ back n forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Keynes] I made my case, Freddie H
Listen up , Can you hear it?

Hayek sings:

I’ll begin in broad strokes, just like my friend Keynes
His theory conceals the mechanics of change,
That simple equation, too much aggregation
Ignores human action and motivation

And yet it continues as a justification
For bailouts and payoffs by pols with machinations
You provide them with cover to sell us a free lunch
Then all that we’re left with is debt, and a bunch

If you’re living high on that cheap credit hog
Don’t look for cure from the hair of the dog
Real savings come first if you want to invest
The market coordinates time with interest

Your focus on spending is pushing on thread
In the long run, my friend, it’s your theory that’s dead
So sorry there, buddy, if that sounds like invective
Prepared to get schooled in my Austrian perspective

We’ve been going back and forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No… it’s the animal spirits

The place you should study isn’t the bust
It’s the boom that should make you feel leery, that’s the thrust
Of my theory, the capital structure is key.
Malinvestments wreck the economy

The boom gets started with an expansion of credit
The Fed sets rates low, are you starting to get it?
That new money is confused for real loanable funds
But it’s just inflation that’s driving the ones

Who invest in new projects like housing construction
The boom plants the seeds for its future destruction
The savings aren’t real, consumption’s up too
And the grasping for resources reveals there’s too few

So the boom turns to bust as the interest rates rise
With the costs of production, price signals were lies
The boom was a binge that’s a matter of fact
Now its devalued capital that makes up the slack.

Whether it’s the late twenties or two thousand and five
Booming bad investments, seems like they’d thrive
You must save to invest, don’t use the printing press
Or a bust will surely follow, an economy depressed

Your so-called “stimulus” will make things even worse
It’s just more of the same, more incentives perversed
And that credit crunch ain’t a liquidity trap
Just a broke banking system, I’m done, that’s a wrap.

We’ve been goin’ back n forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No it’s the animal spirits

Love this new song by Leeland – Follow You (with Brandon Heath)

Listen:

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

You lived among the least of these
The weary and the weak
And it would be a tragedy for me to turn away

All my needs you have supplied
When I was dead you gave me life
How could I not give it away so freely?

And I’ll follow you into the homes that are broken
Follow you into the world
Meet the needs for the poor and the needy God
Follow you into the world

Use my hands, use my feet
To make your kingdom come
Through the corners of the earth
Until your work is done
‘Cause faith without works is dead
And on the cross your blood was shed
So how could I not give it away so freely?

And I’ll follow you into the homes that are broken
Follow you into the world
Meet the needs for the poor and the needy God
Follow you into the world

I give all myself
I give all myself
I give all myself…to you

And I give all myself
Yes, I give all myself
And I give all myself…to you

And I’ll follow you into the homes that are broken
Follow you into the world
Meet the needs for the poor and the needy God
Follow you into the World

Here’s the official video:

A couple of funny videos to start off the week.

Via aol.com

The Muppets Studio has posted a new video on YouTube of all your favorite Muppet characters performing Queen’s rock classic ‘Bohemian Rhapsody.’

The Muppets’ version manages to be even more majestic, surreal and shamelessly excessive than the original Queen video — and even the famous scene from ‘Wayne’s World’ that served as an introduction to the song for a whole new generation.

Check it out below, and set aside some time for repeat viewings; it actually gets better and more brilliant as it goes along, ending with a rather unexpected and amusing punchline from Kermit himself.

My friends Lori, Dan and Kristi went to a taping of The Price is Right – and Lori made it on the show! You can also see Dan (going nuts) and Kristi in some of the audience shots. Watch the episode at the link below. Lori was the first contestant and made it to the showcase showdown! Yay!

The Price is Right – 10Nov2009

One of my all-time favorite clips from a sitcom.

When Theo brings home a poor report card, but claims he doesn’t need good grades to get a job. So Cliff gives him an economics lesson with Monopoly money.

Some of my favorite quotes:
“The government comes for the regular people first.”
“Theo…that’s the dumbest thing I’ve heard in my life! No wonder you get D’s in everything!”
“I am your father. I brought in this world, and I’ll take you out.”

I don’t watch Leno. Didn’t when he was on late night (I preferred Letterman those very rare times when I was watching TV that late) and haven’t since his new show started earlier this week. However, last night his show was on mute in the background while I was on the phone and one of his guests/segments caught my eye. I paused it and went back to watch it later.

And cracked up.

Hamish and Andy, a comedy duo Australia, participate in the World Ghosting Championships. Watch this clip from Leno’s show:

And here are a few more ghosting segments:

And here’s a very funny non-ghosting clip; this one’s Three Step Hiding (start at the 2:20 mark)

For all you Losties out there…a little entertainment for this Friday. What if Lost were a sitcom from the nineties? (via tvsquad.com)

All I have to say is someone is trying to pass the time while waiting for the final season…