Last night i watched a documentary that i rented from the video shop called " inside job " . Its all about GFC in 08 . For those who have`nt watched it , it is a must see , and its pretty scary. !!!
Check out Too Big to Fail though. It's like a romanticised dramatic reenactment of the 2008 bailouts played by actors, largely focused on Hank Paulson, the US Secretary of Treasury. It's hilarious because it tries to portray Hank and even Helicopter Ben as these honest hard working intelligent men who did everything they could to prevent having to do the bailouts but it was just these greedy bankers that screwed everything up. As one of the imdb reviewers worded it...
I just hired it so will watch it tonight. Looking forward to it as I think it is a prelude for GFC 2.0
Last time I went into a video shop and asked for it about six weeks ago they didn't know about it and were not interested in ordering it for me. If you read the financial review the end game is approaching much quicker than I anticipated. A quote I saw today said the Euro will be gone in less than 12 months and with Europe cutting spending and America inflatting a trade war and world depression is immenent. nonrecourse
Just watched the video, funny there's also another movie called "Inside Jobs" which is about something totally different but is exactly what the bankers did to everyone else Back to "Inside Job" - it was a good watch, I'm definitely thinking of getting a job at a bank now
I can see derivitives being overhauled in an attempt to bring about global stability , and the farmers smiling at the little hot shot from Wall Sreet as he buys his Ferrari at a bargain price ...
Just watched this movie... CANNOT believe the same people involved are actually still around and in higher positions of power...THEY SHOULD BE LOCKED UP!!! I think for most SSers, it is not a revelation but this film needs to get out into the mainstream more.. much more. If someone is trying to convert family or friends to silver and gold.. get them to watch this, read Rich Dad Poor Dad and then Mike Maloneys vid on fiat currency It would have been good to see the outtakes of this movie.. some ppl really got their knickers in a twist when questioned.
I did get something new from this doco. And that is an appreciation for how corrupted economics academics can be.
Any academic IMO nugget - where theirs a vested interest with $ there is an academic willing to be bought to present "evidence" or "science" supporting that interest.
Well, the ones in the video maybe, but does that equate to any and all academics? Where do ethics come into it? Sorry generalisations just don't sit well with me....like all Muslims...., all women.... all politicians, all people with blue eyes etc....
I remember reading an interview with the director where he said one of the most striking things he found while shooting the doco was that the vast majority of the people warning about systemic problems in the financial system were not Americans. Whether you can infer from this that American economists are more ethically challenged than non-American economists I don't know, but its an interesting point to consider.