What it doesn't do is explain that the major unemployment at the time was the result of government regulations preventing wages from adjusting to the overall lower price level. If they were allowed to do so, Keynesian inflation gymnastics would not even be a thought on anyone's mind.
Further, the clip does not point out that newly printed money does not reach everyone at the same time and those that get it first (usually the banksters) get an edge over everyone else.
Finally, the clip gives the distorted impression that spending is what fuels an economy. Spending above costs is the key for survival of an individual business, but for an overall economy it is production that makes an economy grow. And production can take place without money printing. Say's Law = supply creates its own demand.
Source @EPJ
(htJohnMcCallum)
