Overdose: The Next Financial Crisis
Economy | Information | History | Online | Facts | World | Global | Money
Overdose: The Next Financial Crisis. Award-winning youtube hit giving fresh insight into the greatest economic crisis of our age: the one still awaiting us. Support the filmmaker - Overdose is now available to buy in iTunes: https://itunes.apple.com/us/movie/overdose/id994792990 For downloads and more information visit: http://www.journeyman.tv/60895/documentaries/overdose.html Follow us on Facebook (http://goo.gl/YRw42) or Twitter (http://www.twitter.com/journeymanvod) With the US raising their debt ceiling, are we in a global bail-out bubble that will eventually burst? This doc offers a fresh insight into the greatest economic crisis of our age: the one still awaiting us. The financial storm that has rocked the world began brewing in the US when congress pushed the idea of home ownership for all, propping up those who couldn't make the down payments. When it all went wrong the government promised the biggest financial stimulus packages in history and gargantuan bailouts. But what crazed logic is that: propping up debt with more debt? "They're giving alcohol to a drunk: it just sets him up for a bigger hangover." July 2010 - Ref: 4875 Journeyman Pictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.
Comments
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Exponential GREED...still coming and we are going DOWN!
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you lost me at "terrorists" took down the world trade centers
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How can I turn off the horrible music!!!!
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Still waiting. My 5 years puts are decaying!!
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Well, the next crisis never came as they had predicted.
Only losers with tinfoil hats listen to these bozos. -
Great Read
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fuck BUSH!!all are crooks and thieves
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wow. in retrospect, it's incredible to hear our ex-president speaking about the economic collapse. i didnt understand the seriousness when i was younger. now im 29, bachelor of science undergraduate (bio), with no job prospects. and live in new york freakin city! i refuse to pump gas or work at a supermarket with my intelligence and physical capabilities. i dont know where my future is heading...
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Its almost time
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Work more spend less and not buy more garbage from China.
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the dollar is hot right now. WATCH OUT!
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23:55 no, that is not an overly aggressive estimate - if GM were to go under, then that would be punitive to the numerous other firms who exist to supply to GM and who may have indeed been profitable. tire manufacturers, suspension manufacturers, headlamp manufacturers etc etc are all individual companies that were not in need of a bail out but would have found themselves without a customer had GM not been bailed out.
you cannot even being to compare the bailout of the auto industry to the bail out of the banking industry. the latter was in ruin due to cascading, leveraged bets that were much larger in value than the underlying asset. however, the former was in ruin due to competition and mismanagement. -
what shitty music
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They kept getting a shot of that guy's ring... 🤔Anybody see what was on it?
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Supposed speak oxygen recovery artist.
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yea yea...hello ? the DOW is at 20,000 RECORD NOW ! what Crisis ? what crisis ?
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The problem wasn't with the down payment program - it was that low income people given home loans at a variable rate that skyrocketed - it is the subprime lending processes. Also you had fraud industry wide - where loans were given without the proper checks - and then they were given more loans without the proper checks. Some people had 3 mortgages on one house.
The government wanted more home ownership - but they should have limited it to one mortgage per household and limited the size of the subprime lending industry.
So fraud in the banking industry and the government's programs fueling the subprime lending market... and greed within the financial industry... these were the main factors that caused the problems. And how many people went to jail for the fraud? -
Interesting thing about the bailout... the government bought Citigroup stock... when it was at a low price... In an effort to stabilize the price. Then after about 2 years they sold the stock and it had increased in price... and Citigroup also paid back all the TARP money it got. So in some cases the government made money. All the money went from the government to big corporations and back to the government and it didn't go to helping people in trouble.
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