A simple explanation of what’s wrong with the global economy, and why it’s getting worse. .
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Global Financial Crisis explained in 96 seconds.
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Global Financial Crisis explained in 96 seconds.
financial crisis 2008 explained
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Wouldn't it be nice if one could "actually" explain the world economy in 96 seconds? Unfortunately it's not possible to do so, and only a fool would believe it to be otherwise.
What's at the heart of the entire system is the mentality of winner take all, zero sum games, greed, ignorance, and a complete lack of understanding that we on this earth are all now globally connected. There is no such thing as a Chinese economy, or British, or American, or European economy. The interconnections, and interdependency is nearly absolute. The tweaks and tinkering are like trying to put a bandaid on a massive head wound. There's only one way back to stability, and that is to "spread the wealth", forgive debts, and provide the best possible education for every single man woman, and child with the same gusto as we build nuclear arsenals, tanks, and fighter bombers. Our biological environment, and our economies are inextricably linked. Until we admit this, and act accordingly we are headed for continued financial instability, and endless crisis.
I would destroy interest on loans.
Interest is the root of the problem
Subprime lending , low interest rates imposed by fed, mortgage backed securities , collateralized debt obligations, credit default swaps. Everyone played a role in making this collapse. But the biggest culprit of all are not the banks but the government. Bitcoin > fiat currency.
Country B is german?
Did you say simple? How about simplistic" And what has it to do with the GFC? Nothing! It doesn't even mention it!
Simple and best video. Thank you.
You dont pay interest if you pay off the balance every month
What a dumb video. This man has a tenuous grasp of economics.
Nobody asks where the interest goes? 0.1%?
i agree with everything but slightly annoyed that the author did not mention that if you can only pay part of the interest 'and you keep borrowing money' then that makes the debt burden even worse.
The video makes sense but in no way shape or form explains the GLOBAL FINANCIAL CRISIS. WTF? Change the title or take it down. Any global crisis video that doesn't mention US Housing bubble, Banks and CDOS is wrong.
That was 95 seconds not 96. I don't trust this guy anymore.
This is more and more becoming worrying news for investors
https://www.facebook.com/investmentsabroad
This is happening in Sweden, and we are not in Euro zone!!!
And the countries and leaders that propose sound currency to avoid such problems get destroyed and killed. Nothing suspicious to see there, eh?
Strange… I didn't hear the word ''bank'' in this video…
Every country in the world's debt is growing? That doesn't make sense. Shouldn't the net debt in the world be 0?
Ancient Babylonians knew very simple math modern "economists" refuse to see.
A loan on 5% interest doubles the amount owed in less than 15 years.
Add to this the current banksters swindle where modern money in circulation (FIAT money, or debt based money) has long ago ceased to have anything to do with real goods and production and you have a premeditated fraud specially devised to create CHAOS so certain people can play "Saviors" by providing you with a solution that will take away from you ANY form of freedom, simply so that they will able to rule as "One World Government".
The idea is a very simplistic one. Everybody will be so disgusted with everything that they will be just ripe to beg: "Save us. Save us. Oh please, oh please SAVE US!" And the "saviors" will say. "Oh, it's very simple. You only have to abolish money and you are all set. And then, blah, blah, …"
They don't tell you that along with that, there goes all of your rights to property, freedom, individual thought, all of that goes by the boards, but that's only a minor detail in "saving" you, see?
What a childish idiotic way to effect a "One World Government" indeed …
They will do anything and everything to create that chaos and havoc not only in the economy, but also in social problems, wars, and so on, the entire package.
Well, I don't blame them. That's all they know, so that's what they do. Typical behavior of criminals and idiots:
Utterly unable to think of consequences
This is amazingly wrong.
Let's get things straight for someone who may be interested in learning about the Global Financial Crisis (note the capitals for the proper noun – i.e. it's a proper name). This is not about the Global Financial Crisis, this is more of generic complaint about an aspect of the current international financial system (you can agree or, like most economists, disagree with it).
Republicans: Cut Taxes, cut government spending…but let's just give the military money we don't have.
Why would they get angry after sending their money to foreigners.?
Solution: Don't spend on stuff you can't afford lol
What is the truth of life? There is a site called The Truth Contest (Look it up)
The only solution is that citizens start buying the debt of their country. Especially the rich ones who posses country's obligation. By doing so they will destroy money.
oversimplification
is economic crisis same with financial cris? please help me.
And I am amazed that u could explain economic crisis is 96 seconds.
Er, the thing is… Banks lend money to countries (governments) and that's why "they", the zionists came up with a brilliant (not) idea, "The Central Banks". So, governments are in banksters pockets…
This is wrong.. They do not ow countries money. They own bankers money.. Very deceptive explanation designed to divert anger of the people away from the bankers towards other nations.. cunning…
If two countries owe eachother money they should just make a deal to nullify the depts. Sounds like both countries would win from doing so.
Welcome to Economic Misinformation 101.
This world wide economic crisis looks like it might give rise to the antichrist should it collapse. DO NOT TAKE THE MARK OF THE BEAST! Get a King James Bible and READ IT!
Its about the time people start bitching about multiculturalism and immigrants. Bunch of poor, dumb fucks looking for scapegoats.
…Of course, "money leaving the country" isn't all that bad for the US, as roughly two-thirds of US debt is held domestically.
Thanks for sharing .
And what have we learned? FUCK INTEREST!
Strike all debt, reset to zero and rethink premise.
It is a vicious cycle
This video handwaves very important things such as how inflation interacts with interest, when governments should run deficits and when they should save, and why governments default. It also ignores the fact that a government's debt is not just to other countries; some countries, like the US, have debt that is mainly owed to both the citizens of the country and the government itself.
interest = bad
It's a debt-based currency. Where does the money for interest on the Federal deficits come from? It has to be borrowed into existence. But where does the money for interest for that loan come from? It has to be borrowed into existence as well. The cycle is perpetual, and will always continue to grow in debt until it collapses. "If something can't go up (or down) forever, it won't." People don't realize that the system is working as designed. It is a debt-based fiat currency. We HAVE to keep going further into-debt in order to maintain the status quo. We need to keep the Federal Reserve's monopoly over our fiat currency in order to maintain the wealth disparity. The monetary system is a machine, and it is working well, but working well for who?