Forget Fannie and Freddie, Alan Greenspan, collateralized debt obligations and other mortgage-backed securities, and credit default swaps. Who’s really responsible for the global economic meltdown? The Guardian notes that the rock band AC/DC always seems to prosper during financial panics:
Those keen to draw wider inferences from its success might note that the last time AC/DC made No 1 in Britain, the country was on the brink of recession. Back In Black, the album that marked their commercial breakthrough and went on to become the second biggest-selling of all time, was released in 1980, just as inflation had reached 20% and unemployment inched towards 2 million. … [T]he album that returned the band to its heyday was The Razors Edge, released in 1990 – just as Britain headed towards its last recession.
Maybe it’s time to regulate stadium rock? (A tip of the hat, as they say, to Kai Ryssdal.)
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