Credit Crisis Explained In 11 Minutes
Want a glimpse into the greed which got us all into this financial mess we’re in right now?
Up until now, it’s been hard to rely on a succinct and lay explanation as to how on earth we got into this mess. Well thanks to Flowing Data, here is a 11 minute video which finally made more sense to me then anything I’ve seen on the topic so far.
I know that things are heaps more complicated then what’s shown in the next 11 minutes, but this video sure does introduce you to the love of money on a scale probably not seen before.
The Good Book says…
For the love of money is a root of all kinds of evils. 1 Tim 6:10a
The video will show you the love of money. And it will show you the birth of a vicious cycle about to be unleashed on all of us. I wander what kind of evil will be birthed as a result of this…
Nice find Sime – explains the situation quite well.
This explains the world’s big financial mess in easy to understand terms.
The U.S,was to blame for the 1929 Depreesion and ditto for this Recession as well!
Although, I think we need to put into the equation, the Iranian Oil Bourse, that came into effect in March last year.
The Iranians convinced a lot of Oil buying nations to buy their oil using Eurodollars, rather than American Dollars.
As you can imagine, it weakened the US Dollar a lot.
That combined with Americas greed, that was left unchecked has caused a catastrophic echo throughout the world, except for the oil rich Arab states of course!!
Almost seven months on,planet Earth is still spiralling downward!
I wonder if we will end up with a one world currency?
I wonder if the road toward Socialism, is a close reality for us in the west?
We live in interesting times!