hornblower Posted October 11, 2008 Share Posted October 11, 2008 This is an excellent video explaining the mortgage crisis & the subsequent credit problems in the general economy. It is an Australian Broadcasting Corp production so it's interesting as it's an 'outside' view. But what's really interesting is that it's a year old & follows the first upheavals of Aug 07. This writing has been on the wall for SO long. http://www.abc.net.au/4corners/content/2007/20070917_subprime/loans_hi.asx The friend who sent this to me saw it last year & thought she was going crazy recently because she had this huge sense of deja vu & was wondering why everyone else seemed so surprised.... She kept thinking 'but we knew all this would happen, didn't we?' When she found the video again, she was so relieved that she's not going loopy :lol: Worth watching if you have 45 mins. I watched with my kids so they could get a bit more info about the background to all the economy crisis news on the radio. Quote Link to comment Share on other sites More sharing options...
kalanamak Posted October 11, 2008 Share Posted October 11, 2008 The Economist had a cover story in 2005 about this. The cover art was houses floating in air via hot air balloons. Foolishness and roguery have taken us far. Perhaps we'll be a bit soberer for awhile. :) Quote Link to comment Share on other sites More sharing options...
hornblower Posted October 11, 2008 Author Share Posted October 11, 2008 Oh yes, The Economist has been on this for ages. Bubble, bubble, toil and trouble... and they always reminded people of Japan. We're still bubbling where I live & people are still sure that in the long run, you can never lose on real estate. Yeah buddy. How long are you planning to live? Quote Link to comment Share on other sites More sharing options...
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