thanks Alice - this is indeed well worth watching
So why didn't people like Brown who is, as he tells us a genius see this and think "this cannot last" and plot a soft landing.silly question really because on the upward slope people feel well off and vote for the people taking the credit for our wealth.
Mitch, mitch don't you know that Gordon Brown predicted all this in 1998 and he is angry yes angry that no one listened to him then.
I did see this clip a couple of weeks ago, and sent it to several people, because it's very well done. However, one thing is disturbing. Even this great clip misses that ALL US houseprices were overvalued at a certain moment because of the securitization thingy. This lead to many households being overstretched financially, even the households that normally would have been "good credit". This clip only mentions the "less responsible households" as a cause.... Brgrds,Dutch_renter
Thank you, Alice!Joseph
That really is fantastic. It's also on the independent website. I've been directing people to it.Here's another thing that may interest you.An analysis of the current economic crisis we are all unfortunately facing but looked at from a slightly different perspective.This analysis looks at past banking crises and how they have affected various aspects of the economy, and relates this to the current banking crisis, rather than just treating it like a regular recession.It is titled The Banking Crisis - Where are we now? (you can access it from the link) and makes for an interesting read.
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