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  • Understanding the current financial crisis

    Given the downturn in the economies of the world, I found the following quite enlightening:

    http://www.chrismartenson.com/crashcourse

    It requires about 3.5 hours to listen to the entire thing and I feel it is well worth your time regardless of your locale. While it focuses on the US economy, you'll quickly realize your economy is subject to the same issues. Otherwise your currency would be worth many times more in US$ than it is.

    I guess I knew a bunch of the bits and pieces presented, especially since I'm in the energy sector, but I never really put it all together in a way where I could explain to myself or anyone else why a relatively small percentage of sub-prime loans could result in such panic nor why the largest / longest economic expansion in history was not nearly as good as advertised.

    Enjoy.
    Cheers,

    Rick

    ** Remember to give credit where credit is due and leave reputation points sigpic where appropriate **

    © 2006-2099 R Valstar. This post is offered "as is" for discussion purposes only with no express or implied warranty of any kind including, but not limited to, correctness or fitness for use. Nothing herein shall be construed as advice. Attempting any activity based on information in this post is done at your own risk.

  • #2
    Re: Understanding the current financial crisis

    I have to tell you I'm a little disappointed in the lot of you.

    This is probably the finest first-principles explanation on why we're going down the drain over the next 20 +/- years. I would have expected at least a few of you to watch the first few chapters and provide a bit of commentary.
    Cheers,

    Rick

    ** Remember to give credit where credit is due and leave reputation points sigpic where appropriate **

    © 2006-2099 R Valstar. This post is offered "as is" for discussion purposes only with no express or implied warranty of any kind including, but not limited to, correctness or fitness for use. Nothing herein shall be construed as advice. Attempting any activity based on information in this post is done at your own risk.

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    • #3
      Re: Understanding the current financial crisis

      3.5 hours is alot to watch....... So far I got through the 3 E's, and was saving my comments and thoughts for last. Will reply back when I am done, but thanks for the link.
      "...if I turn out to be particularly clear, you've probably misunderstood what I've said” - Alan Greenspan

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      • #4
        Re: Understanding the current financial crisis

        I did bookmark so I could download it offpeak and then when I couldn't sleep one night........
        1 1 was a racehorse.
        2 2 was 1 2.
        1 1 1 1 race 1 day,
        2 2 1 1 2

        Comment


        • #5
          Re: Understanding the current financial crisis

          Well maybe it's me but although it's nice to see why we become in a financial crisis I still think we can't do anything about it.
          If I look at my salary I think I'm already for years in a crisis

          Anyhow, it is what it is and we simply has to sit back and wait. 3.5 hours for a video is a very long time
          Marcel
          Technical Consultant
          Netherlands
          http://www.phetios.com
          http://blog.nessus.nl

          MCITP(EA, SA), MCSA/E 2003:Security, CCNA, SNAF, DCUCI, CCSA/E/E+ (R60), VCP4/5, NCDA, NCIE - SAN, NCIE - BR, EMCPE
          "No matter how secure, there is always the human factor."

          "Enjoy life today, tomorrow may never come."
          "If you're going through hell, keep going. ~Winston Churchill"

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          • #6
            Re: Understanding the current financial crisis

            Countries who are dependant on US and countries who has biggest market share in US are the main victims of this years financial crisis. News papers, journalists and political leaders in my country says so.

            Few companies in my country was on the way to bankruppt who has largest banking share market in United States but Reserve Bank Of India saved them. There was 1 banking company only who was on that way.

            Good news is petrol prices are slashing down in my country next week. Seems like crude oil prices are falling down.

            Regard's,
            AmeY.
            All in 1
            Solaris,Linux & Windows admin + networking.

            Comment


            • #7
              Re: Understanding the current financial crisis

              Originally posted by sco1984 View Post
              Good news is petrol prices are slashing down in my country next week. Seems like crude oil prices are falling down.
              Cool. I expect the lowered oil prices to be reflected in the UK... sometime around 2030
              Gareth Howells

              BSc (Hons), MBCS, MCP, MCDST, ICCE

              Any advice is given in good faith and without warranty.

              Please give reputation points if somebody has helped you.

              "For by now I could have stretched out my hand and struck you and your people with a plague that would have wiped you off the Earth." (Exodus 9:15) - I could kill you with my thumb.

              "Everything that lives and moves will be food for you." (Genesis 9:3) - For every animal you don't eat, I'm going to eat three.

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              • #8
                Re: Understanding the current financial crisis

                well that's that book marked, it'll be handy on next long all nighter...
                If the information you receive helps please let us know and leave reputation points where appropriate.

                The good news about computers is that they do what you tell them to do. The bad news is that they do what you tell them to do. - Ted Nelson

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                • #9
                  Re: Understanding the current financial crisis

                  I just wish I could download them all in one hit.
                  1 1 was a racehorse.
                  2 2 was 1 2.
                  1 1 1 1 race 1 day,
                  2 2 1 1 2

                  Comment


                  • #10
                    Re: Understanding the current financial crisis

                    I never realy understood the crisis, i think it's a big ball of panic.

                    Comment


                    • #11
                      Re: Understanding the current financial crisis

                      Originally posted by SnakEye View Post
                      I never realy understood the crisis, i think it's a big ball of panic.
                      And that's your professional summary of the global financial situation, is it? You can encapsulate the financial activities of six billion people, the same of several hundred million financial organisations, and the hundreds of thousands of different financial pressures on different entities across the planet into one fourteen word sentence?

                      Steven Hawking must seem to be an intellectual insect to one such as yourself...


                      Tom
                      For my own and your protection, I do not provide support by private message under any circumstances. All such messages will be deleted and ignored.

                      Anything you say will be misquoted and used against you

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                      • #12
                        Re: Understanding the current financial crisis

                        Originally posted by Stone
                        ...... into one fourteen word sentence
                        Does I and a really count as words since they are only a single letter of the alphabet? But then it's could actually count as 2 words.
                        1 1 was a racehorse.
                        2 2 was 1 2.
                        1 1 1 1 race 1 day,
                        2 2 1 1 2

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                        • #13
                          Re: Understanding the current financial crisis

                          you asked my opinion, I just supplied it, you don't have to agree with it.
                          and no need to be so rude about it either, cheers

                          Comment


                          • #14
                            Re: Understanding the current financial crisis

                            Originally posted by SnakEye View Post
                            you asked my opinion, I just supplied it
                            I did?!? Quote me.

                            you don't have to agree with it.
                            I don't have enough of your opinion to either agree or disagree; in fact you said almost nothing. I simply pointed out (in my "signature" way) that yours was an almost incalculable simplification of an immensely complex subject.

                            and no need to be so rude about it either, cheers
                            I'm sorry - I don't see the part where I was rude? Sarcastic maybe; or was I dripping with irony? But not rude.


                            Tom
                            For my own and your protection, I do not provide support by private message under any circumstances. All such messages will be deleted and ignored.

                            Anything you say will be misquoted and used against you

                            Comment


                            • #15
                              Re: Understanding the current financial crisis

                              There appears to be rather too much unpleasantness appearing in several posts of late. This is to stop now.

                              Thank you.
                              1 1 was a racehorse.
                              2 2 was 1 2.
                              1 1 1 1 race 1 day,
                              2 2 1 1 2

                              Comment

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