Overdose: The Next Financial Crisis

Overdose: The Next Financial Crisis. Award-winning youtube hit giving fresh insight into the greatest economic crisis of our age: the one still awaiting us.

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With the US raising their debt ceiling, are we in a global bail-out bubble that will eventually burst? This doc offers a fresh insight into the greatest economic crisis of our age: the one still awaiting us.

The financial storm that has rocked the world began brewing in the US when congress pushed the idea of home ownership for all, propping up those who couldn’t make the down payments. When it all went wrong the government promised the biggest financial stimulus packages in history and gargantuan bailouts. But…


45 thoughts on “Overdose: The Next Financial Crisis

  1. wow. in retrospect, it's incredible to hear our ex-president speaking about the economic collapse. i didnt understand the seriousness when i was younger. now im 29, bachelor of science undergraduate (bio), with no job prospects. and live in new york freakin city! i refuse to pump gas or work at a supermarket with my intelligence and physical capabilities. i dont know where my future is heading…

  2. 23:55 no, that is not an overly aggressive estimate – if GM were to go under, then that would be punitive to the numerous other firms who exist to supply to GM and who may have indeed been profitable. tire manufacturers, suspension manufacturers, headlamp manufacturers etc etc are all individual companies that were not in need of a bail out but would have found themselves without a customer had GM not been bailed out.

    you cannot even being to compare the bailout of the auto industry to the bail out of the banking industry. the latter was in ruin due to cascading, leveraged bets that were much larger in value than the underlying asset. however, the former was in ruin due to competition and mismanagement.

  3. The problem wasn't with the down payment program – it was that low income people given home loans at a variable rate that skyrocketed – it is the subprime lending processes. Also you had fraud industry wide – where loans were given without the proper checks – and then they were given more loans without the proper checks. Some people had 3 mortgages on one house.

    The government wanted more home ownership – but they should have limited it to one mortgage per household and limited the size of the subprime lending industry.

    So fraud in the banking industry and the government's programs fueling the subprime lending market… and greed within the financial industry… these were the main factors that caused the problems. And how many people went to jail for the fraud?

  4. Interesting thing about the bailout… the government bought Citigroup stock… when it was at a low price… In an effort to stabilize the price. Then after about 2 years they sold the stock and it had increased in price… and Citigroup also paid back all the TARP money it got. So in some cases the government made money. All the money went from the government to big corporations and back to the government and it didn't go to helping people in trouble.

  5. I will never forget my first year in the recession my dad went from a lake front property to a trailer and my mom lost her job as a cook for nuns, she tried to find work at bars as a line cook she ended up dying two years later I often think the recession killed her she just could not take all her dreams going to waste

  6. What this video is not mentioning is the skyrocketing health care expenditure. In the US the government spends about $4 trillion every year on health care. All that needs to happen is for people to understand the true issues behind health and how disease is only a nocebo effect. They can make themselves well and the $4 trillion can be used to pay of the $19 billion US government debt over just 5 years. That would make a huge difference.

  7. Ugh.. Gerald Celente…. really?
    The Fed did not blow the dot-com bubble. The dot-com bubble was an organic blow off of the success of the economy during the Clinton years. Look at the fed funds rate… it did not start dropping in earnest until after the dot-com bubble popped. Without 9/11 the fed might have raised the rate sooner but the dot-com crash+9/11 convinced the fed to leave the rate low enough for long enough (3+ years) to start blowing the RE bubble. The fed rate started going up in 2004 (this video at one point leaves the impression that it was 2006) which should have slowed the party down early but other forces (Bush administration pushing home ownership, ratings agencies looking the other way, general lack of regulation and oversight including the repeal of Glass-Steagall) kept the party going.
    So the RE bubble was less about loose gov't money and more about lax gov't regulation. Fast forward to 2008 and $5 trillion wiped out in the world economy and what's the gov't to do? Dropping rates and providing stimulus are absolutely the right things to do. The reason the fed hasn't been able to raise rates is because the gov't didn't 1) break up the big banks and 2) properly re-regulate. With those two actions the US economy could've sorted itself out. But Bernanke served his corporate masters instead and argued against breaking up the banks by claiming they had "significant franchise value" (which means nothing more than "their brand is popular"). So we end up like Japan.
    And so this video along with many other like commentators on the Internet (especially of the Austrian economics sort) condemns the gov't when gov't is the answer… except gov't won't do what they are supposed to unless it involves corporate welfare.

  8. Maybe its time for the banks in conjunction with the government to write off debr for low income earners and continue the regulation in decraesing the amount that people may borrow. We need a way to shrink the money supply without global collapse.

  9. Conflating loaning GM funds for a limited time, all of which was paid back with interest with the sub-prime financial crisis is unjust.Apples v oranges. btw: for every auto-worker there are 34 supporting services employees. That decision by P. Obama was unquestionably the right one.

  10. The stupidity of our leaders caused all this i lost my savings for more than 30 years working.How it work Allan Greenspan is the economic advisor from Reagan to Bush his philosophy is "dont mesh with the bank they know what they they do"but forgot the greed factor.The mortgage interest went very low and the demand for new homes take off as a rocket shooting for the moon.What is worse is the banks are granting loan to everybody with out thinking if they can pay because each transaction the bank make money they dont care.You have two houses they will lend you for another four they dont care if you can pay or not just close the deal,,,stupid and crazy greed is in action here…I am againts it but my wife brothers and sisters went like crazy my wife is one of them…Then it crashes hard I lost it all…then in congress when they ask Allan Greenspan what happen….His economic philosophy is the most stupid decision most president follows from Reagan to Bush…Greenspan said " I MADE A MISTAKE" and we all failed what stupidity and he as stupid presidents listening to him.American leadership is failing if continued this way like the Roman Empire it will collapse!!

  11. Fuck the Illuminati and these jesuit jew pigs!! There time is up, It's our time now!! Wake up people!! Stop watching the news and accept that you are being brainwashed and lured into the darkness. Remember, there can be darkness all around you, but it just takes a little candle to light up the darkness. You are the light! Let's kill these pigs with light! They are afraid of us, and our free will, these satanic pigs are parasites that can be cremated easily with light and love, remember that!

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