The Crisis of Credit Visualized - Part 2
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good work here
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love the video man
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@iDeathpool Sweden is getting older as well and the way it looks today, there's no plan on how it's going to work out in 60 years, even though it's paid for through taxes. Don't you think that not bailing them out would scare them from taking the stupid risks of loaning poor people money? It sounds to me like people needs to take more responsibility for their own actions - where, to whom and when they invest. If the government helps cleans up for everybody, the money will run out.
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@ohedd social security is not really a big problem as long as people pay more taxses than they use social (even countries with high social like Sweden still keep this proportion, in the US social security is very low in comparison to Europe). and bailing out banks using public money does suck, but sadly is nesesery if we don't want a crysis like in the '30 - people literaly not having money for food. the fiscal responsibility of banks (AND the people) is a topic for a whole separate forum.
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@iDeathpool Ah you're right. And then it's the whole issue of paying for everyone's social security when they get old.. We need to make sure we don't bail out the banks to keep them from making the mistakes of loaning money to irresponsile people, because they are pretty much guaranteed a bail-out from the government at this point. Also lower taxes so people can afford to save their money and pay for their social security.
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@ohedd the way of stopping this is either re-thinking the whole system, or somehow increasing the number of people in some country by letting in immigrants, or encouraging cityzens to have more children.
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@ohedd the birth rates are declining in US and Europe. it means the demand for houses drops (since there are no people to live in houses). the house prices drop, so they are sold cheaper. since they are sold cheaper, investors are already loosing money, meaning that they have to cut spending in their other investments such as car factories ETC. making people loose their jobs. and a person without a job is not able to pay for his house and looses it to the bank. it's a spiral of credit.
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Where did it go wrong then? When loans were given to irresponsible people? How to stop doing that?
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For a crisis solution, see the funny and optimistic video at: youtube.com/watch?v=fslmey589j
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Superbbbb !!!!
GREAT work JJ :)
meetpram1987 6 months ago 24
we need more education like this one to high school kids across the nation, less banker fraud on its own citizens by the financial instutions
jkykwong100 3 months ago 16