This is a surprisingly clear (and hilarious) explanation of the financial crisis, in so far as it was caused by bad mortgages. I really liked the explanation of "leverage":
"i'll pay you back tomorrow"
"ok"
(you'll see what I mean)
I think with the economy imploding as it is and all...we'd all do well to improve our understanding of the financial system a bit. I took an intro to macroeconomics course my senior year in college, and then really wished I had done it sooner, so I could've spent more time in some intermediate courses. (I think every college student should be required to take a macroecon course, and possibly a microecon course as well...and yes, this is in addition to my infamous "every college student should have to take two semesters of calculus" rant.) So, in that spirit, I am bookmarking this blog on my list of daily-ish reads.
Anyhow, without further ado...
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
As you can see, I'm not much for my own thoughts this past week or so...instead just posting various internet clippings. I've got a lot of projects going on right now, but things will be calming down soon enough. Until then, I hope you are enjoying my little findings from the interwebs...
update (9:52 pm): just found out this video was picked up by BoingBoing as well...see, told you it was cool.
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