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Secretary: Guys, Mr. Bulchik is here. Oh great! Send him in.
Hey, hi, thanks for coming. Sorry, I'm late, I got caught up reading the
new Morton book. Have you read that thing? Oh yeah, yeah, it's, it's great
Well I checked out the new crash course and I loved it. And I wrote you this big sexy
intro that I think you're really gonna dig. Oh wow that's great, awesome. Should we just
lay it down? Boys, lets get to it.
*Whispers* here we go Economics, Mr. Bulchik
YEAAAAHHH!
The curve shifts now. Together on the graphs the curves are back
The curve shifts now with fiscal policy, AD shifting right moving along PPC.
(PPC) Price level and output goin' up.
(Goin' up) Investment spending rising up.
(Risin' up)
Economy improving when we sellin to the Fed. Hoping to save the market from going dead.
(YEAH, YEAH) Three mill in the bank, stocks in the dow,
you either get played, get paid or get trade.
THIS IS THE TALE, OF JOHN MAYNARD KEYNES, CHANGING THE VIEW OF THE ECONOMY
A MYSTICAL QUEST TO REACH EQUILIBRIUM, SHIFTING DEMAND TO INCREASE AD
Yeah that was kinda weird but we're back to shifting curves.
Buying up the bonds so the output raises up. (Raises up)
Monetary policy, I'm the top banker. AD goin' up, I'm the number one buyer.
(John Keynes) Shifters of demand increasing gov spending
Decreasing taxes is the way to increase lending (YEAH, YEAH)
All taxed up with nowhere to save And now they make you pay more with the--
NOW BACK TO RECESSION FROM THE DAY HE WAS BORN, HE YEARNED FOR EXPANSION
Nooo JOHN MAYNARD KEYNES, GIVING US A NEW THEORY
HE'S THE MASTER OF THE CURVES Yeah, uh huh
THE SAVIOR OF THE BANKERS Oh god
IS A RECESSIONARY GAP WHAT LIES IN STORE? Yeah, we've read the theory
Put your money in the air if there's cash to spare, come on
CROWDING OUT What?
DISCOUNT RATE No
From the front to the back say we buy stocks come on
MARKET FLOW Nope
ECONOMIC STATE Wrong
Mr. Bulchik we're really gonna need you to focus up.
ROGER THAT LET ME TRY WITH ANOTHER THEORY Wait--
I'M THE FATHER OF ECONOMICS AND MY NAME IS ADAM SMITH
Not better THOUGH I'M NOT THE NEWEST ECONOMIST, I INFLUENCED
ALL THE REST Come on
OK THEN I'M CONSERVATIVE, SUPPLY-SIDE IS MY GAME
No, god THEN YOU CAN CALL ME CLASSICAL, FISCAL POLICY
IS IN VAIN Close enough
YOU PEOPLE WANT MORE MONEY? OKAY, IT'S INFLATION!
THIS IS THE SALE OF GOVERNMENT BONDS RAISING DR, TO FIGHT INFLATION
Take it home GOT A HIGH INTEREST RATE, AD IS DECREASING
THIS WHOLE TOWN'S UNEMPLOYED, JUST WAITING TO GET PAID
Okay, turns out Mr. Bulchik is a major econophile. GRAPHS COMPLETE ME
Yup, yeah, okay