Hayek v. Keynes

"Fear the Boom & Bust"!!!



This is the video that sparked the most intelligent debate *evah* held on YouTube.

I fully confess that I totally don't get this debate, but it does seem like the US government has lowered interest rates in order to make money cheap in order to encourage spending/investment -- but this has also had the effect of making savings' account interest-rates plunge, which discourages saving money, which is ironic because a key cause of the current US economic crisis is that people didn't save money; instead they borrowed and spent, borrowed and spent.

Help me out here, commenters: am I even close to getting at the source of the underlying tension that is driving this debate?

I mean, we've gotta solve this thang b4 Keynes pops a cap into Hayek's bald skull...