Friday, November 18, 2011

MTV ate my economy

He's saying it as an example of how weak some causation arguments can be - in other words, he doesn't really mean it - but I did enjoy Barry Ritholtz's blog suggesting that MTV's Cribs was responsible for the housing crisis and, thereby, the financial hole we're all in:

The series showcased the huge, luxurious homes of the rich and famous in music, film, and sports. It was watched by young, easily influenced kids who would soon be out on their own, buying Cribs that they themselves could not afford.
That's to say nothing, of course, the channel's long-standing demonstration of an unsustainable lifestyle where you could get not just your money for nothing, but also your chicks for free. Surely that undermined the entire work ethic of the Western world?