@Fetrovsky
I came to the US in 2003. Around that time and for a very few years, I saw some ads that were very confusing about getting a second mortgage to go on vacation or pay for credit card debt to access the "excess equity" in your house. I always found it very confusing that this kind of thing was being promoted.
@jerrycampbell-ut9yf
It’s amazing really. We have a financial crisis, caused by greedy, reckless financial institutions. Congress passes legislation requiring those institutions to be less greedy and reckless. The institutions then lobby to have those restrictions removed, usually in the name of “remaining competitive”. This leads to another financial crisis. It’s completely predictable, and we have been doing this dance since the Great Depression almost 100 years ago.
@viviancarolgioao
The US economy relies heavily on continuous credit and debt creation to function. As a result, the Federal Reserve will likely continue to print more money, increasing the average American's debt burden. Meanwhile, foreign economies, which are struggling even more than the US, remain eager to hold US dollars. Ultimately, someone will be left to bear the consequences of this unsustainable economic cycle.
@dannyschwertner7785
Best peace of advice I ever received about wealth was in my early twenties. Here it is. "Building wealth, real wealth, is boring. It not fast and it's not difficult. It's being disciplined and living off less than what you earn, using the difference for a rainy day fund and investing in broad based mutual funds and/or index funds". It's a snooze fest and it's unsexy
@aparicioj03
American humorist and writer Mark Twain is frequently credited with the aphorism: “History doesn't repeat itself, but it often rhymes.” Which means, while details change, circumstances change, settings change, names change, similar events will essentially recycle.
@sparkycjb
You forgot the a big part of the stock speculation issues in the late teens early 20s was corporate buybacks that make stocks look like they have more value than they really do. This is why corporate buybacks were banned after the Depression. However in the late 80's or early 90's a bunch of corporations convinces politicians that it would be good for the economy. So we are on track to repeat this mistake.
@hightechredneck3362
I must be an oddball. I have not studied economics, finance in general. Not surprising, but what makes me a real oddball is the fact I actually listened to my parents, grandparents, aunts and uncles. They gave me a wealth of information on poverty (Great Depression) and the preservation of wealth. By listening to them, I was able to avoid the trap of "Get rich quick" and see the patterns of the early 1900s repeating again as early as the 1970s. Anyone who doesn't study history is bound to repeat it.
@omguiri
Some people did foresee the 2008 Crisis. Read Anne Pettifor "The Coming First World Debt Crisis", written in 2006. It's one of the most thought-provoking books I've ever read. She foresaw the 2008 economic crisis 2 years before it happened.
@Cynthia-mm1cv
Our economy is facing challenges due to uncertainties, housing problems, foreclosures, global fluctuations, and the lingering effects of the pandemic, leading to instability. The rising inflation, slow growth, and trade disruptions require immediate action from all sectors to restore stability and promote economic recovery.
@savroi
Things, money, more "things"... filling the void, being on the safe side at all and/or any cost. One day we might finally learn as a community that THIS is not what life is about, they are distractions, illusions in the best case, with a skin deep meaning. Until then we will continue to go through this cycles over, and over again or, until one of them finally beats us permanently.
@seekncheck
I can't get enough of your Company Forensics videos guys. I saw the quality of the content grow into excellence over time and never get boring. The quality of the production, the stories, the knowledge, and the insights are just the perfect combo. Awesome job guys! Really!
@badzullu
It is amazing how the word GREED was never mentioned in this video. People's greed and banks are to blame for every crisis.
@ksbrook1430
Ah-ha! The slip that summarizes it all: gamble, er, invest. When people put money on a risk/possibility as if it were a reality. Futures, margins, leverages, speculation, etc. Lesson: don't gamble more than you can afford to lose. In my circle, we saw what was coming, but we did not have a voice to warn anyone/we were discounted. A very nicely laid out explanation over all. Learned a bit more of history, too.
@SebastianBialeki
Everyone blames different things for financial crises—banks, governments, greed. What’s the real root cause? I want to protect my savings but don’t know where the risk actually comes from.
@caseybills5517
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich
@ethanchabert
Good points! I think a major part of the problem is that when someone figures it out they try to profit individually from it instead of raising alarm bells about the problem.
@Heather-xw6tv
Reminds me of the quote. "I have met the enemy and it is us"...goes something like that.
@JohnHeitmuller
You are a good storyteller. I worked in finance for 33 years. I am very familiar with each financial crisis that you covered. You did a good job of breaking this down for the layman while including the important points.
@brycehoener5610
Great video, but a couple minor corrections: -The Dutch revolutionized finance, but they didn't invent the futures contract, we have records of futures being used as insurance and investment back to the code of Hammurabi in ancient Babylon -The east India trading company was chartered by the British and is a separate entity to the Dutch west India company that was involved in the tulip bubble. -Sub prime loans are those given to individuals with low credit scores at a higher than market rate to account for the added risk to the lender. Loans who's rates change to a higher rate at a later date (the definition given in the video) are referred to as balloon loans or teaser rate loans.
@slidebean