Monday, October 6, 2008

The Why and How of the Current Economic Crisis or Shadow Market Goes to Town


So I came into this video having no idea what the hell was going on with the economy. I knew that there was some sort of trouble and that people were calling this the kind of disaster that occurs every 50 or 100 years. I had no idea what caused it or why. This clip explains exactly that in really simple terms. My next thought is, if this can be explained so simply, then why was this ever a problem? Was simple greed enough to ignore the obvious fact that if everyone is betting on bad investments to not fail, with no capital to back up the bets, that betting couldn't last for that long? It truly boggles the mind and hurts the knees. Hooray for shadow markets! [via Crooks and Liars]
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4 comments:

defmoose said...

Hopefully no one is scared of watching the vid because it says 60 minutes on there. I assure you, the video clip is only about 10 minutes. Not 60 minutes. I promise. =)

October 7, 2008 at 5:08 PM
Spontaneous what said...

And I gotta say it was surprisingly informative and pathetic... in the sense that it's true and our best and brightest not only let it happen but did it on purpose...tear
Time to start learning another language or two...

October 8, 2008 at 12:21 AM
defmoose said...

Listen to the man he said "surprisingly informative"! Now if that's not an endorsement to watch it then I don't know what is. Let's get informed people!

October 13, 2008 at 1:20 PM
Black Crow said...

this video is trip as hell. I already knew a lot about this issue but I had no idea about the shadow markets. Im sure that the economy will bounce back. Eventually. hehe.

October 14, 2008 at 2:54 PM

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