How to Ruin the Economy in Seven Easy Steps - Johan Norberg

Complete video at: http://fora.tv/2009/09/01/Financial_Fiasco_The_US_Infatuation_with_Home_Owner...

Author and historian Johan Norberg gives an abbreviated version of the events that caused the housing bubble and primed the financial crisis.

-----

How was it possible that in a world where thousands of people regulated financial markets the whole system crashed down? And should we now give more power to central banks, government agencies, politicians, and regulators? Isn't that what brought us here in the first place?

Financial Fiasco digs deep into the foundation of the economic meltdown, revealing how it was the product of conscious actions by decisionmakers in companies, government agencies, and political institutions, and by consumers. Financial Fiasco tells the compelling story of how rate-cutting by the Federal Reserve inflated the real estate market and fueled increased risk-taking in the financial markets; how new government policies to promote home ownership blasted air into the credit bubble; how new financial instruments, credit-rating requirements, and accounting rules intended to prevent cheating backfired; and much more. - Cato Institute

Johan Norberg is a senior fellow at the Cato Institute and a writer who focuses on globalization, entrepreneurship, and individual liberty. Norberg is the author and editor of several books exploring liberal themes, including a history of liberal pioneers in Swedish history. His book In Defense of Global Capitalism, originally published in Swedish in 2001, has since been published in over twenty different countries.

Norberg's articles and opinion pieces appear regularly in both Swedish and international newspapers, and he is a regular commentator and contributor on television and radio around the world discussing globalization and free trade. Prior to joining Cato, Norberg was head of political ideas at Timbro, a Swedish free-market think tank, from 2003 to 2005.

Category:

News & Politics

Tags:

• economic
• debt
• mortgage
• crisis
• recovery
• bust
• credit
• default
• home
• loans
• policy
• ratings
• recession
• history
• economics
• finance
• fora.tv
• foratv
• fora
• tv

[Hendo1974]

Republican=Democrats=Banksters­=New World Order=All the same Bullshit!

[magichandpuppet]

yes, or democrat... both parties designed for mindless droids

[MANGOS487]

@Whopzer you only say that because you're poor

[JennClimaco]

CAN SOMONE TELL ME HOW THIS VIDEO HAS ANYTHING TO DO WITH REPUBLICANS OR DEMOCRATS LIBERALS OR ANY FUCKEN POLITICAL BULL SHIT!!!!!!!! THIS IS THE MARKET THE FREE MARKET PPL THIS IS WHAT HAPPENS WHEN PPL STOP INVESTING WHEN BANKS AND CORPORATIONS STOP RECEIVING REVENUES AND CASHFLOWS. THIS VIDEO IS TALKING ABOUT THE HOUSING BUBBLE THAT BLEW IN OUR FACES BECAUSE THE UNETHICAL WAYS CORPORATE AND BANKS WANT TO MAKE PROFITS, CASHFLOWS, AND REVENUES. take finance classes and a few economic classes PPL

[szol2005]

How to Ruin the Economy in 1 Easy Step - By me

Give some1 control over the money supply and wait for the crisis that sparks the easy money bubble... From coin clipping romans to chopper Ben, it's all the same...

[JonseyAlabama]

I see a lot of Republican versus Democrat arguments as though either side has anything to do with our interest rates or economy LOL. All i know is there are a few Rich men who really want a global currency and if you have to go hungry then so be it a few serfs are expendable. How can a government official or beurocrat decide how much mu hour of labor is worth?

[Bobbiethejean]

I'll probably get back in line and shut up like most other Americans. I might move. I might bitch louder than I usually do. It's easy to conjecture from my asschair but I don't really know what I'll do until that situation arises.

[Mrmoc7]

You probably won't vote republican, so you'll try a third party, and if they fail you too, as they most likely will, will you move out of the states? Just curious.