The fact that this is happening in both the UK and the US is evidence that the issue of "Why are we all going bust?" is far more broad than both your explanation and your solution. Don't get me wrong. I don't have a broad enough explanation or solution either. However I do have a hint. Why are we all going bust?... Derivatives...
you didnt do busines studies did u? this is fucking basic knowleg faggot. im so glad i dont no any1 with speach impediment like yours. it annoys the fuck out of me. talk less. cut ur fucking hair. and then fuck off
Look at you, arguing and insulting over the internet from behind a fake name. Aren't you the absolute best example of humanity? Being helpful, explaining things to people who might not know, and speaking properly is something people should appreciate.
Unlike your curse-infested random spew of meaningless, impolite and misspelt word-vomit.
Why don't you learn from the basic three-year-old principal of "If you don't have anything nice to say, don't say anything" and go play back to school.
Surely the banks foresaw this, why did they not just put the 'loan of freeze' and then rent the property to the tennant at a lower rate so people have less, but more disposable income therefore not too great of a recession until the economy goes into a mid recovery stage: the banks still got a portion of their money so it is not too great of a loss and people would not have to 'tighten belts' which causes a recession. Or alternatively, self-sufficiency! lol
I'd recommend looking into the monetary system more, you have some good information but it is lacking and i don't feel you have a proper understanding of the banking/monetary system.
I'm no expert but you've missed some important factors, such as how banks create money out of thin air when they give you a loan.
And how they can lend 9 times what they have in actual capital. eg. for each £1 they have, they can lend £10, and so on...
jazza i can't even tell you how much i love u for explaining this whole thing!!! i had to learn it for homework and didn't understand anything at wikipedia...
another BIG thank you for being serious and good in explaining things! <3
very informative Jazza...didn't get the supply & demand house pricey thing before. So when's the perfect time to buy a house? Just after the demand has trailed off?
Thank you for taking the time to learn about and explain this topic, Jazza. All too often I find that people my age just don't know what is going on in the world or how they can relate to it. It's awfully nice to find someone who does.
I saw this on the news the other day, when Gordon Brown was announcing the £37billion thing. I happened to be in the bank at the time (which i found amusing), but i wasn't utterly sure what was going on. That helped a lot =P
Gofsh awfuly awful situation there. The rub is mate your daddy could be out of a job thanks to Mr.Fat Banker, so he can't bail you out of your student loan.
This comment has received too many negative votesshow
blah blah blah ... i hear all that and know about it and stuff but i am gonna go to a shallow level and tell you something: don't part your hair down the middle... it is never a good look... for anyone!
The true problem lies in the fact that banks and other financial institutions re-sold the mortgages as securities (mortgage backed commercial paper) over and over amongst themselves, generating billions of "profits" for the crooks in the financial sector. They actually lobbied for, and achieved, deregulation of these shady activities. It's like salesmen that don't really care if you can pay for the car down the road, they just want to make their commission. In the end, it all came crashing down.
America will never support the state owning a share of banks, or any other national service, not until they get over their irrational fear of socialism, and any policy which can be associated with it.
Holy shit mate. FINALLY someone actually puts everything together in a coherent manner.
Thank you for this. I FINALLY get what's going on properly now, rather than just thinking "The banks are loosing money which is killing the stock market which is killing the economy... Why?"
i find it interesting that a person from the UK probably knows more about the American economy crash than a lot of my friends. i suppose it might be because our economies are closely tied, but it seems that the British know more about the american government and current events than vice versa.
I don't think there is a connection between being British or American and knowing the state of America's economy or Britain's economy. It is about taking an active interest in economic matters, and more importantly a general interest in where you live and the world around you. I am sure there are plenty of Americans who know all about Americas current economic situation (at least I hope) and equally there are plenty of Britain's who no nothing on the matter.
GREED is what caused this crash. Irresponsible financial management should result in Jail time not golden handshakes. I believe the UK has the right approach
I would assume they are trying to sort out a similar rescue plan to europe and the us. And the UK has had the same problem as we are also very closely tied to what happens in america. more so than other european countries.
I'm afraid all of this has already happened in my country (irland). We are in a resession, further general price increases has occured and unemployment has risen. This year alone has been the highest count for social welfare applicants since the 1980's in ireland and it doesn't seem to be getting any better! As on from January 2009, there will be a 10% cut in the Irish Nations salories, not including a lot of politions, with the exception of the irish presedent!...
I didn't now ireland was being hit so hard. We are seeing ridiculously high unemployment rates as well that we havn't seen for decades. This whole situation basically sucks
It doesn't help the global financial crsis that traders have a system of selling on before they have bought the product. Because then when they can't afford it they get in trouble and start losing money.
That $70 Bil. "injection" was two-fold dumb, because the federal reserve is already printing LOTS of money every day, to print out 70 bil dollars on top of the other money that they print out daily, really helps to inflate the dollar.
I tried to look up exactly how much money is printed each day, but you can't find it any more because about a decade ago they stopped counting how much they printed because the figures were SO HIGH that they got scared, and stopped counting how much they printed!!
It reli helps ppl to understand all this. wen i first read abt it it befuddled me. Its amazing how stupid the world's leaders really are... and the banks, the idea is that when house prices start falling, STOP BUYING HOUSES! Sometimes I think that when we had a monarchy it was much better: there would be no buying out because the Queen has that much common sense. Ugh! I would move to China ... !
No offence to Hank but i understood this a lot better then his explanation. Nice one Jazza and i really like the idea of this channel its like a UK news channel type thing but from average joes perspective.
this helped a hell of a lot! There's so many people who have tried to explain this to me but I still didn't understood everything. But know, after seing your video, it's all very clear. Great job Jazza :D
That was a really well put togethere video Jazza keep up the good work. Oh and by the way EVERYONE! should what the film Money as Debt. its very informative.
Thank you!! I live in America...and Ithink that the 700 billion dollar bail out that i'm going to have to pay back is an easy out...and it hasn't helped anything. So now I can't get a loan to get a car. I have to walk to work and have to inconvinience others just because I can't get a car, because American politicians and banks are dicks.
I like your comment on how naturally the large banks who were doing all the bad dealing wuld go out of business & the smaller banks who were giving out smart loans will grow and take over the banking. Unfortunately my government (the US government) either 1. doesn't understand that natural process that happens and think they need to stimulate the economy by investing in the huge corporations (the 700 billion) or 2. They are scratching large corporations backs to in turn get support in campaigns.
Wow, Jazza you have explained it to me a way nobody else could, now I understand the situation so clearly. Thanks!
I see this government control as a positive move NOW, but when the situation increases, won't it be some kind of monopoly (although there are other banks left) but the government/state having so much control won't it be manipulating an important part of the economy? or am I just talking stones?
wow I really love how you speak in terms that young peopl understand therefor making your mssgs more entertaining to watch,more young peopl should be interested in the things going on around them.A cute guy who"s intelligent and has something to say=amazing!!
lol I can talk myself in circles and change my mind a million times,lol You should do a vid giving tips on going to school overseas for someone like myself it would help.I"m not sure if you"ve even gone to school in the us but I want to study in Europe(Spain) education is so valubale and having the most personally challeging experince is life changing
Yes, this did help a lot. I understand even better than I did after Hank made a video about it on the vlogbrothers channel.
I think its amazing that the internet is offering this kind of information where the traditional media is absolutely failing to do so. Even though I understand both you and Hank aren't exactly sources of information that have proven to be an authority on anything and shouldn't be blindly trusted, every little info helps and I can find more sources should I want to.
Also, I was thinking, you explain that the market of houses goes in this cycle of higher and lower values due to demand/supply etc. But wouldn't you also say that this cycle is disturbed when much more people than usual are forced to sell their homes because the bank demands they pay back the loan, thus creating an unnatural supply?
Isn't that the reason that house values are so much lower than anyone expected maybe?
Jazza, you're amazing. What would I do without you? My econ teacher spent about an hour trying to explain the financial situation to our class, and I left the lecture feeling more confused than when I came...you managed to make the whole thing much more understandable in 5 min.
The fact that this is happening in both the UK and the US is evidence that the issue of "Why are we all going bust?" is far more broad than both your explanation and your solution. Don't get me wrong. I don't have a broad enough explanation or solution either. However I do have a hint. Why are we all going bust?... Derivatives...
Papachair 2 years ago
That was very interesting and informative (:(:
thankyouu
ELFLOVE98 3 years ago
im confused
Boredmonkey5 3 years ago
well that was a replay on t31os for whoever would be interested.
lottetje88 3 years ago
Lots of bank and monetary related videos and information around the web already....
Our very way of life perpetuates debt as long as we use banks, which are near impossible to be without these days....
Do you ever wonder why?
t31os 3 years ago
This has been flagged as spam show
you didnt do busines studies did u? this is fucking basic knowleg faggot. im so glad i dont no any1 with speach impediment like yours. it annoys the fuck out of me. talk less. cut ur fucking hair. and then fuck off
razwillcox 3 years ago
Look at you, arguing and insulting over the internet from behind a fake name. Aren't you the absolute best example of humanity? Being helpful, explaining things to people who might not know, and speaking properly is something people should appreciate.
Unlike your curse-infested random spew of meaningless, impolite and misspelt word-vomit.
Why don't you learn from the basic three-year-old principal of "If you don't have anything nice to say, don't say anything" and go play back to school.
JoPOW7 3 years ago 2
SHUT UP POO HEAD HAHA RAZ FTW
razwillcox 3 years ago
This has been flagged as spam show
i hate this guy
razwillcox 3 years ago
so its been like a month, why havent you shaved your hair off yet?
itsmandaxlove 3 years ago
Surely the banks foresaw this, why did they not just put the 'loan of freeze' and then rent the property to the tennant at a lower rate so people have less, but more disposable income therefore not too great of a recession until the economy goes into a mid recovery stage: the banks still got a portion of their money so it is not too great of a loss and people would not have to 'tighten belts' which causes a recession. Or alternatively, self-sufficiency! lol
theprimordialprince 3 years ago
wow that makes sense..
GinaTheRandom 3 years ago
woooooow 4001 Viewer British & Proud!
VoXMrGrim 3 years ago
thanks brainboxx lol
ashamakeda 3 years ago
I'd recommend looking into the monetary system more, you have some good information but it is lacking and i don't feel you have a proper understanding of the banking/monetary system.
I'm no expert but you've missed some important factors, such as how banks create money out of thin air when they give you a loan.
And how they can lend 9 times what they have in actual capital. eg. for each £1 they have, they can lend £10, and so on...
t31os 3 years ago 3
well, maybe an idea to explain what your saying here in a video response. It sounds interesting and useful to watch.
lottetje88 3 years ago
Note:
Recession rhymes with depression
How fitting....
glitterandmoredoom 3 years ago
Question!!!!! Who here on YouTube whom happens to be a Non-American is pissed at the United States for causing the global recession?
Lexicon12 3 years ago
thx for the vid.
u r so cute :P
Alexa2905 3 years ago
that was really informative and well put. thanks brainboxx
MySoCalledMemory 3 years ago
jazza i can't even tell you how much i love u for explaining this whole thing!!! i had to learn it for homework and didn't understand anything at wikipedia...
another BIG thank you for being serious and good in explaining things! <3
CharlyChampignon 3 years ago
ur a good egg jazza
corbettripley 3 years ago
Elleniris is a fucking idiot!I part my hair down the middle all the time and i get all the f###ing chicks!
chrishasaclue 3 years ago
It's really sad that all this trouble was caused by people who were greedy.
BlowwFish 3 years ago
very informative Jazza...didn't get the supply & demand house pricey thing before. So when's the perfect time to buy a house? Just after the demand has trailed off?
Destro7000 3 years ago
And you are right.
scottklaw 3 years ago
Thank you for taking the time to learn about and explain this topic, Jazza. All too often I find that people my age just don't know what is going on in the world or how they can relate to it. It's awfully nice to find someone who does.
bailily 3 years ago 2
nice job, clear and comprehensive explanation. i respect what your doing jazza
123452345634567 3 years ago
speak for yourself dipshit
mogilny89p 3 years ago
<3858393739
Lizzehh 3 years ago
I saw this on the news the other day, when Gordon Brown was announcing the £37billion thing. I happened to be in the bank at the time (which i found amusing), but i wasn't utterly sure what was going on. That helped a lot =P
LinkaNeo 3 years ago
It did help. Thanks. ^^
Emiror 3 years ago
Gofsh awfuly awful situation there. The rub is mate your daddy could be out of a job thanks to Mr.Fat Banker, so he can't bail you out of your student loan.
Bennsack 3 years ago
This comment has received too many negative votes show
blah blah blah ... i hear all that and know about it and stuff but i am gonna go to a shallow level and tell you something: don't part your hair down the middle... it is never a good look... for anyone!
elleniris 3 years ago
and I care what you think because...?
no need to be rude
rhymingwithoranges 3 years ago
Very clearly explained, mate.
Thisisace 3 years ago
Your intelligence is beautiful. Thank you for talking about serious subjects. <3 seriously...
BloodyMystery 3 years ago
wow. this was amazing. and educational. love you jazza. ^_^
secretaznjen 3 years ago
The true problem lies in the fact that banks and other financial institutions re-sold the mortgages as securities (mortgage backed commercial paper) over and over amongst themselves, generating billions of "profits" for the crooks in the financial sector. They actually lobbied for, and achieved, deregulation of these shady activities. It's like salesmen that don't really care if you can pay for the car down the road, they just want to make their commission. In the end, it all came crashing down.
alicia1996 3 years ago
I love your brain, Jazza... I mean BrainBoxx. ;D
I think it's brilliant that you do things like this. Can't wait to see more from you guys.
cloudkicker6000 3 years ago
America will never support the state owning a share of banks, or any other national service, not until they get over their irrational fear of socialism, and any policy which can be associated with it.
eddplant 3 years ago
So very true. It's sad, really. :(
cloudkicker6000 3 years ago
Holy shit mate. FINALLY someone actually puts everything together in a coherent manner.
Thank you for this. I FINALLY get what's going on properly now, rather than just thinking "The banks are loosing money which is killing the stock market which is killing the economy... Why?"
Again. Thanks for the simple explanation.
DarkMaverik 3 years ago
i find it interesting that a person from the UK probably knows more about the American economy crash than a lot of my friends. i suppose it might be because our economies are closely tied, but it seems that the British know more about the american government and current events than vice versa.
marshmellowgazelle 3 years ago
I don't think there is a connection between being British or American and knowing the state of America's economy or Britain's economy. It is about taking an active interest in economic matters, and more importantly a general interest in where you live and the world around you. I am sure there are plenty of Americans who know all about Americas current economic situation (at least I hope) and equally there are plenty of Britain's who no nothing on the matter.
mellymelda 3 years ago
very helpful. this puts together the pits and pieces of the stories that ive heard. keep it up 5+
whitewillow27 3 years ago
I think we should let the big banks die out. It's their fault they went under, I say give the little guys a shot.
Man, I'm having A LOT of fun with this new audio preview thing.
Does anyone know any way I could download and just use it whenever?
Director705 3 years ago
GREED is what caused this crash. Irresponsible financial management should result in Jail time not golden handshakes. I believe the UK has the right approach
coollikeyodais 3 years ago
we will see
thanks for your input
:)
rhymingwithoranges 3 years ago
Thank you so much!!
It did help, a very good bit.
outtathaway21 3 years ago
I
<3
Jazza
period.
JBluver994 3 years ago
i now understand whats going on in the world!
this has been the best explanation yet
lucysaysrelax 3 years ago 2
So true, keep em coming!
TheBoredSwede 3 years ago
what about canada? canada has strong ties to the u.s. economy.
TudesofAlex 3 years ago 2
Im sorry but im not sure.
I would assume they are trying to sort out a similar rescue plan to europe and the us. And the UK has had the same problem as we are also very closely tied to what happens in america. more so than other european countries.
rhymingwithoranges 3 years ago
yeah, it's true. thanks for the response :)
TudesofAlex 3 years ago
Wow, this makes the US look really stupid. I think I want to move to England.
TobiSkye 3 years ago
not stupid, they have just got s different set of principles and goals to achieve
rhymingwithoranges 3 years ago
You and me both man. :)
Director705 3 years ago
this has made everything a lot clearer! Thanks Jazza x
CptJacklovesme 3 years ago
I'm afraid all of this has already happened in my country (irland). We are in a resession, further general price increases has occured and unemployment has risen. This year alone has been the highest count for social welfare applicants since the 1980's in ireland and it doesn't seem to be getting any better! As on from January 2009, there will be a 10% cut in the Irish Nations salories, not including a lot of politions, with the exception of the irish presedent!...
keithzworld 3 years ago
...and if thats not bad enough, the government has also announced the removal of the medical card, for old age pensioners.
keithzworld 3 years ago
christ, that sucks.
I didn't now ireland was being hit so hard. We are seeing ridiculously high unemployment rates as well that we havn't seen for decades. This whole situation basically sucks
rhymingwithoranges 3 years ago
Unfortunatly thats wat it has come to. We're living in hard times, I just hope it doesn't last too long.
keithzworld 3 years ago
Well done :) That was a great summary.
It doesn't help the global financial crsis that traders have a system of selling on before they have bought the product. Because then when they can't afford it they get in trouble and start losing money.
Interested to hear your thoughts on that?
helenzebcharles 3 years ago
That $70 Bil. "injection" was two-fold dumb, because the federal reserve is already printing LOTS of money every day, to print out 70 bil dollars on top of the other money that they print out daily, really helps to inflate the dollar.
I tried to look up exactly how much money is printed each day, but you can't find it any more because about a decade ago they stopped counting how much they printed because the figures were SO HIGH that they got scared, and stopped counting how much they printed!!
Reelakthart 3 years ago
cause.bankers making bad bets and greed.world problem which ever goverment in power there would no differnce.
lestube001 3 years ago
thanks!! that was really relpful, i really didnt understand before!!
ihave2feet 3 years ago
Explained well and easy to understand, a lot clearer for me now, well done Jazza
MorecambeNick 3 years ago
It reli helps ppl to understand all this. wen i first read abt it it befuddled me. Its amazing how stupid the world's leaders really are... and the banks, the idea is that when house prices start falling, STOP BUYING HOUSES! Sometimes I think that when we had a monarchy it was much better: there would be no buying out because the Queen has that much common sense. Ugh! I would move to China ... !
benjiegurl 3 years ago
this is really insightfull
i think that, although the government are paying for the banks mistakes, it'll help us in the long run
i dont think a americans got the right idea though
injecting money into there banks may not be the smartest of moves...
jazza, you really are a brain box
ElizaDooalot 3 years ago
you explained things really well here jazza!
it's without question the best video i've seen on explaining the current financial crisis.
kudos to you, my friend :)
JohnnyDurham19 3 years ago
ouch, makes my head hurt
HannurrSpannurr 3 years ago
Thanks for explaining, Jazza!
Joseppi2007 3 years ago
No offence to Hank but i understood this a lot better then his explanation. Nice one Jazza and i really like the idea of this channel its like a UK news channel type thing but from average joes perspective.
wyatthaplo 3 years ago
this helped a hell of a lot! There's so many people who have tried to explain this to me but I still didn't understood everything. But know, after seing your video, it's all very clear. Great job Jazza :D
5 stars!
1992Jarhead 3 years ago
yay! i kinda understood before but now i feel like an expert! yay im off to explain it to my parents!
shadowwatcher93 3 years ago
That was a really well put togethere video Jazza keep up the good work. Oh and by the way EVERYONE! should what the film Money as Debt. its very informative.
grnlfe01 3 years ago
Thank you!! I live in America...and Ithink that the 700 billion dollar bail out that i'm going to have to pay back is an easy out...and it hasn't helped anything. So now I can't get a loan to get a car. I have to walk to work and have to inconvinience others just because I can't get a car, because American politicians and banks are dicks.
KevinJonasistheBEST 3 years ago
This is great! I ruddy love YouTube sometimes. x
daisycow88 3 years ago
Very well presented, Jazza. You made the complex understandable. Looks like a good teacher in the making.
studentdotcom 3 years ago
aww
thanks jeff
means alot
rhymingwithoranges 3 years ago
Your analysis is incomplete. There is also the effect of dollar devaluation creating a fictive real estate appreciation. . .
jburt56 3 years ago
I couldn't go into too much detail, mainly because I wanted to keep this easy to understand and reasonably short.
rhymingwithoranges 3 years ago
I like your comment on how naturally the large banks who were doing all the bad dealing wuld go out of business & the smaller banks who were giving out smart loans will grow and take over the banking. Unfortunately my government (the US government) either 1. doesn't understand that natural process that happens and think they need to stimulate the economy by investing in the huge corporations (the 700 billion) or 2. They are scratching large corporations backs to in turn get support in campaigns.
mrjohnnylipps 3 years ago
to be fair it isn't just the us government, the vast majority of governments around the world have some kind of a 'rescue' plan.
rhymingwithoranges 3 years ago
Wow, Jazza you have explained it to me a way nobody else could, now I understand the situation so clearly. Thanks!
I see this government control as a positive move NOW, but when the situation increases, won't it be some kind of monopoly (although there are other banks left) but the government/state having so much control won't it be manipulating an important part of the economy? or am I just talking stones?
JustUncopyrightable 3 years ago
*increases = gets better
sorry for the horrible english I speak/write
JustUncopyrightable 3 years ago
good points, I think you're right.
rhymingwithoranges 3 years ago
LOve u jazza x
garycuk 3 years ago
Good video.
Watch the film 'Zeitgeist : Addendum' - It is very revealing.
Shiows what a shitty , unfair biased system the monetary system is.
DirectorToby 3 years ago
Very well explained, Jazza ^_^
Managed to keep me interested, and that's no mean feat on subjects of economy and such.
SunscorchX 3 years ago
oooh this is very informative and understandable! i like it :) glad i watched
francesjasmine 3 years ago
& you still have your hair...
CalebICT 3 years ago
wow I really love how you speak in terms that young peopl understand therefor making your mssgs more entertaining to watch,more young peopl should be interested in the things going on around them.A cute guy who"s intelligent and has something to say=amazing!!
KittnKAbooDle81 3 years ago
haha thanks
and I only explain it so I can understand it myself
:)
rhymingwithoranges 3 years ago
lol I can talk myself in circles and change my mind a million times,lol You should do a vid giving tips on going to school overseas for someone like myself it would help.I"m not sure if you"ve even gone to school in the us but I want to study in Europe(Spain) education is so valubale and having the most personally challeging experince is life changing
KittnKAbooDle81 3 years ago
thank you jazza
i finally understand :P
zaielle 3 years ago
It has helped a lot thankyou!!!!! one thing i would like to now is what happened to northenrock????
would really like an answer please but is ok if you don't now :)
Abl
xxxGhostGirlxxx 3 years ago
Jazza
IM PREGNANT!!
Aaah! This explained it so much better than my economics teacher...
=D
3sixty5days 3 years ago
now you know very well that isn't possible
you don't have a womb
rhymingwithoranges 3 years ago
Yes, this did help a lot. I understand even better than I did after Hank made a video about it on the vlogbrothers channel.
I think its amazing that the internet is offering this kind of information where the traditional media is absolutely failing to do so. Even though I understand both you and Hank aren't exactly sources of information that have proven to be an authority on anything and shouldn't be blindly trusted, every little info helps and I can find more sources should I want to.
funkwurm 3 years ago
O, and I take it you understand I don't regard you personally as not to be trusted :)
funkwurm 3 years ago
understood, and thanks
;)
rhymingwithoranges 3 years ago
Also, I was thinking, you explain that the market of houses goes in this cycle of higher and lower values due to demand/supply etc. But wouldn't you also say that this cycle is disturbed when much more people than usual are forced to sell their homes because the bank demands they pay back the loan, thus creating an unnatural supply?
Isn't that the reason that house values are so much lower than anyone expected maybe?
funkwurm 3 years ago
That is a very good point that I didn't think of. I think that could probably be true.
:)
rhymingwithoranges 3 years ago
Nice explanation Jazza :D
Castle03 3 years ago
Jazza, you're amazing. What would I do without you? My econ teacher spent about an hour trying to explain the financial situation to our class, and I left the lecture feeling more confused than when I came...you managed to make the whole thing much more understandable in 5 min.
chocoholicchica3 3 years ago
Glad to help
;)
rhymingwithoranges 3 years ago
cheers for this Jazza!
CoverTheAgenda 3 years ago
yay a video
there hasn't been one on this channel for a while
Good video
clashloverben 3 years ago
we are hopefully gonna start posting more regularly again. So look out for more
:)
rhymingwithoranges 3 years ago