Picture Paints A Thousand Words
If a picture paints a thousand words, this video represents a billion words! The video is very well put together and captures the essence of the great credit crisis that United States of America and other countries around the world are currently experiencing.
Terms Explained
Terms like sub-prime mortgages, collateralized debt obligations, credit default swaps, and frozen credit markets are being hurled around on the news and websites, but what do they really mean. To the average lay-person, like me, nothing.
What part did Wall Street play in this financial disaster? How is the Federal Reserve involved in all this? How did cheap credit come about in the first place?
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The Crisis of Credit Visualized from Jonathan Jarvis. |
This video does a great job in explaining various terms and answers some basic questions relating to this credit catastrophe.
Why Bother?
Watching this short video will help you, as it did me, to understand the problem at hand and establish a frame of reference from which you can operate going forward. The one thing I’ve learnt in the last 18 months is that I must be diligent in asking questions and in learning from what is currently happening. Understanding, even at a basic level, takes the fear out of the ever changing, volatile situation that is brewing across the world.
Watch the 11 minute video. It’s well worth it!
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