http://podcast.thisamericanlife.org...podcast/375.mp3
This is the best layman's description of the whole banking/economic mess I've heard. Hearing this, I no longer have a thought bubble with "???" inside whenever I see something on the news or read an online article or whatever about what's going on in our chilly economic climate.
It's very basic. What is a bank, and how do they run? Why do we even need banks...can't we just let them go under?
Explained in simple terms using easy analogies. Great stuff!
Although keep in mind, this will only be up for a week as a free download, after that you have to pay for it. So download it by this weekend if possible, its worth it!
More info:
http://www.thislife.org/Radio_Episo...spx?episode=375
I'll be listening to it, but I thought I'd post a nice two-part, 11-minute video explanation on Youtube:
The Crisis of Credit Visualized [Part 1] [Part 2]
Sykin wrote:
I'll be listening to it, but I thought I'd post a nice two-part, 11-minute video explanation on Youtube:The Crisis of Credit Visualized [Part 1] [Part 2]
Great video. I'll show it to my wife, so she understand it better. She's very patience hearing my explanations, but sometimes I tend to be a little bit too dense.
http://www.zeitgeistmovie.com/
I just finished listening to the entire thing and it honestly cleared up many things for me. They really simplified the entire ordeal in clear cut manner and made it hit home the fact that everyone is in for some hard times ahead of us without giving the "Doomsday" vibe.
Thats a good video. Although the podcast is even more basic and more simple and goes beyond the subprime stuff and into the big banks themselves. The ones who are basically insolvent, like CitiGroup, B of A, etc. Its basically, You have these huge banks that can't balance their books. What happens then?
Akunin wrote:
Yeah, it was really impressive, and its wasn't shill or hysterical or abstract. Glad you were impressed with it too...I like things that can be explained very simply and clearly. Where a lightbulb goes off and you say, "Oh okay, I get it now!" The girl in it sounds cute too
nice find...but 7 minute abs is better...
Watch any video of Ron Paul speaking about it.
Man, I'm glad I took the time to listen to this. Like he said in the beginning, this is one of those news stories that I was planning on sitting out. I didn't really see how any of this could possibly affect me, and most of the crap they talk about on TV never really made sense to me. But this sure was an eye opener. Thanks for posting this.
