A great little video (about 10 minutes long), illustrating in a very Hitch Hiker’s-like style how the financial system (in the US particularly) got into such deep do-do.
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
Categories
The Credit Crisis
2 replies on “The Credit Crisis”
There’s a cool (though biased) 5 part series on modern banking on youtube too. It’s longer and less Hitch Hikery, but I watched all the parts and found it interesting and informative.
Part 1 – http://www.youtube.com/watch?v=cy-fD78zyvI
Very interesting and informative video! I had a vague idea of what was wrong but this really explains the dire conditions in the US now. My brother in Chicago, IL just got laid off from his job working in the flooring industry. No one in a crisis will be spending money on new carpet, tile, or wood flooring for a while. This is a low priority purchace in these times. In 2007-2008 the value of my 1 bed 1.5 bath condo in Miami fell from about US $150,000 to the US $90,000 I sold it for.
This property would be worth over AU $300,000 if it were located in Melbourne.