Sunday, May 10, 2009
Credit Crisis explained
I have found this amazing video on vimeo. Hopefully, it will clarify the dynamics behind the current mortgage crisis in a more basic way.
God bless simplicity!
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1 comments:
oh yes. a simple, elegant explanation. but it is no wonder why the crisis begun: everybody tries to make profit with little or no worry about where the money comes from. there were always quite similar crisises and there will always be. capitalism is still indeed a monetary system and is based on scarcity. investors, brokers and bankers must put in some measurable labor and some reasoning to give rise to the value of the money. instead, they are wasting other people's lives by amassing their own money deposits. this actually makes everyone poor.
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