Explaining the sub-prime crisis

These guys nail it:

It’s hard to untangle the media buzz, but Fortune and Bird manage just that. Unfortunate that truth is so much relegated to the comedy shows, but we take it as it comes.

Props to Gary North for noting it.

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1 comment so far

  1. postglobalism on

    Thoughts On The Subprime Scam

    By now you’ve all read and heard about the subprime mortgage crash in America and its possible future implications on the economy as a whole. Millions of families have been forced to leave their homes, subprime lenders across the country have filed bankruptcy and the effects have even spread to Asian and European markets. What’s all of this really about?

    http://www.corrupt.org/articles/politics/alex_birch/thoughts_on_the_subprime_scam

    Great video! The current system of fiat currency is not working, since it rewards parasitical behaviour and manipulation. We should work towards abolishing it and finding a saner alternative.


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