Global Financial Crisis explained in 96 seconds.

A simple explanation of what's wrong with the global economy, and why it's getting worse.

Category:

Education

Tags:

• economy
• crisis
• global
• financial
• economic
• interest
• debt
• Euro
• Eurozone
• America
• USA
• national
• sovereign
• collapse

[wiang11]

@xlaosta no its spain and germany

[xlaosta]

I think A is United states and B is China

[trentonecv]

politicaly slanted....left out a few key facts on both partys.

[RealFreak69]

@samyazza23 I think you have me mistaken for someone else. I, in fact, live in a third world country, this connection is not mine and I get to use it for my studies. So there is no chance that I can be considered as part of the one percent. Oh, and bravo on that toilet seat, there is hope for you after all.

[samyazza23]

@RealFreak69 Just today I've replaced a broken toilet seat without charging my roommates for it. I can be benevolent, of course, if starvation isn't on the line. But it's a puny example and I came here to talk big: profit is what allows survival. If all business was without profit thered be no flow (loss, actually, as resources degrade) of wealth, so no chance at all for the poor. And your Internet connection tells me you're the world's top 1%. That's why the irony is in fact on you

[RealFreak69]

@samyazza23 Yeah, perhaps it is my bad in using the word "categories", and it is kinda ironic that you call me selfish where I do not charge people that owes money. In fact you are the one that is selfish, since you can only do something if you get something in return.

[samyazza23]

@RealFreak69 You hav not laid out any categories. Money allows me to purchase goods, surivive, expand my company, hire more people thus letting them purchase goods and survive and in this way "give back to the community". As long as there's money involved, and I mean the very concept of money, there must also be profit. Are you suggesting we remove money, or we should all do things for no profit at all and not give back to our communities? That's not just naive, it's selfish.

[RealFreak69]

@samyazza23 I think that you just did not get my point. Why must money be the motive for you to do something? I guess that you do fall in the categories that I laid out.

[samyazza23]

@RealFreak69 If there was no interest, there'd be no lenders, which would result in poor countries (and people) falling too far behind. The real problem is ease of borrowing money. This privilege is used irresponsibly by governments (and people). The conclusions are yours to make, because I'm not in the mood to start a political quarrel, but be aware that the answer is not as simple as you (I dare say naively) suggested.

[samyazza23]

I think you xlaosta was joking and half of you dimwits didn't get it.

[Thatclutchkid]

@formerutuber lolz true

[formerutuber]

correction: no one with a credit card knows how debt works.