Econo-Me-Oh-My

Econo-Me-Oh-My
by John Forster & Tom Chapin
© 2010 Limousine Music Co. & The Last Music Co. (ASCAP)

I couldn't find a job,
Though I was really looking.
But then things turned around,
The economy was cooking.
When the 'conomy is cooking
There are jobs in great supply.
Econo-me, econo-you, econo-me-oh-my.
(I think they call it “job creation.”)

They hired me, they hired you
And all our friends as well,
As corporate profits hit the roof
And unemployment fell.
When unemployment's falling
The labor pool contracts.
Econo-me, econo-you, econo-that's-the-facts.
(I think Milton Friedman said that.)

I put in for a raise, I got it… jubilation.
And all my pals got raises, too,
But that's what's called inflation.
Inflation is the evil
That could cash in all our chips.
Econo-me, econo-you, econo-pocalypse.
(I think Ben Bernanke said that.)

So the Fed decides
That interest rates need tightening,
Which slows inflation down,
But the side effects are frightening.
'Cause when interest rates are rising,
Corporate profits stall
So they cut the rate, but - too late,
The market's in freefall.
Econo-wham, econo-bam,
They kinda fired us all.
(But they call it “resource re-allocation.”)

So now I'm on the street,
Right back where I started,
Wonderin' how the economic gurus
Got outsmarted.
Now I'm no Ben Bernanke
But I can plainly see
That they're bailing out the Big Boys
But not you and me.
(Surprise, surprise, surprise.)

And when recovery finally comes
It won't be like before,
'Cause my old job will go to temps
Or dudes in Bangalore.
When the experts down in Washington
Start practicing their craft
It's kinda you, it's kinda me
Who kinda get the shaft.
(I think Isaac Hayes said that.)

This story has a moral: in an economic boom,
The bluebird of happiness
Is the harbinger of doom.
And when that bluebird finally lets it fly
It always lands right on the little guy,
And even Stephen Hawking
Don't have a reason why.
Econo-me, econo-you, econo-me-oh-my.
(I said that.)

This song appears on Tom Chapin's Broadsides CD.

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