It's official. The economy sucks. We've known this for awhile courtesy of the non-stop reporting on unemployment, GDP declines, plummeting consumer confidence, the housing crisis, etc.
But why have things gotten so bad and how did we even get into this situation?
If you're like me and watch 10+ hours of CNN a week (seriously, the chance to see David Gergen always gets me to tune in to the full 2 hours of AC 360 even though I know that hour 2 is just a replay of hour 1. and I'm not the only one) you have maybe cobbled together a vague understanding that, if we're honest, is just a regurgitation of non-stupid things said by Ali Velshi (he says so many stupid superficial things that it's relatively easy to remember the semi-intelligent comments).
OR you could watch these fun and amusing videos:
The Crisis of Credit Visualized
(Thanks to Matt for finding and sending this)
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
Bird and Fortune - Subprime crisis
WARNING - this is a British comedy duo so they don't have American's sensitivity for political correctness. There aren't any swear words but the characterization of people who took out mortgages that they couldn't afford may offend some.
When in Dubai
15 years ago
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1 comment:
I like the credit crisis for dummies video. Now I know what all those terms I have been hearing mean. Thanks guys.
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