How the 2008 Financial Crisis Still Affects You

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Title	:	How the 2008 Financial Crisis Still Affects You
Lasting	:	38.49
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Views	:	3,5 jt

As someone who was still in middle school in 2008, I never really understood what happened Even watching documentaries and movies about this crisis didn’t help much But this video here is such a clear and structured piece of work that finally give long awaited answers for mebrbrReally awesome to live in the information era
Comment from : LambdaCore016

While many address these issues by the evil "inflation and recession", I wonder how many will see that behind these issues were actions of individuals, who only had greed and lacked ethics and humanity completelyall they cared about was themselves (if people pay attention to the video)
Comment from : Zsofia Agnes Nagy

Amazing episode, great work
Comment from : Epko Staring

Sucks to be born in 1990’s tbh You either graduate high school in 2008 or your a kid and your parents just lost everything I remember going from riding dirt bikes and lake trips to moving into a steel building that my parents started a business out of From my own room to sharing a living room with my brother Thanks america Devils land
Comment from : Hung

a little correction Bear Stearns was sold 10$ a Share not 2$ initially JPM offered to buy 2$/ Share, but the deal was finalized 10$/Share
Comment from : uchu bhai gaming

Greed and lack of accountability are a heady mix Gold is hardly risk proof considering its volatility over 3 decades If everyone went there it would be a huge bubble and like finacial product s do nothing for society
Comment from : virupaksha walla

Why is no one in jail Its was classic ponze nonsense They knew they were selling shit in a poke Its fraud Thousands should be in jail
Comment from : virupaksha walla

hai 🥰
Comment from : Allison Maxwell

Even the high net worth and ultra high net worth people worry about money, just in different ways There's no way around inflation There's no way around recessions Stop looking for a solution that doesn't exist and invest more money Major indexes booked their worst yearly performance since 2008 thanks to drivers like the recession, war, hiked interest rate and inflation which so far doesn’t seem to be easing off, so I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy or do I wait?
Comment from : Philip Caldwell

How do you wanna keep it banned when Congress and the president are invested in these companies and and get paid by these companies 😂
Comment from : Dada 92

When I was laid off from my job in 2008, I had been carrying monthly payments of $5,000 a month (From mid 2006 to spring of 2007, I was going through a divorce I emerged with a lot of debt) Almost half of that was a 15 year mortgage on my house My house became one of those toxic assets that the US government bought From the time that I lost my job until I concluded my bankruptcy (18 months later), the mortgage lender and the credit card companies (my creditors) increased the amount I owed by a significant amount So the taxpayers paid a lot more for my toxic assets than I had owed when the trouble started The lenders made out quite well
Comment from : Jim Maher

Bro just summarised The Big Short 😂
Comment from : Film Centrl

I worked for Lemon Brothers
Comment from : Walter 3579

My wife and I both got laid off in September of 2008 Alot of my friends lost their homes We have bought our house in a vfd We lost it Sold everything we owned and ended up at 43, broke A one year old daughter born in 2008 I got a new job and tore up my knee 2 months later and had to have surgery The entire experience was the worst part of my life
Comment from : John Richards

I worked for a bank during this period Fortunately, it was well know for its conservative approach and basically didn't get involved in these risky types of investments We lost some clients or got less business from clients because of it When the crap hit the fan, we had to hire alot of Temps to help out because so many of those clients came running back with their money It's always amazing to me how people never learn It's like the saying in the Bible "The love of money is the root of all evil"
Comment from : andrea roberts

Dropped Knowledge
Comment from : Ty Davis

It was all in name of spirit of Greed 😔
Comment from : Dot Pr

@5:25 they never had any skin in the game they weren't going to be holding the mortgage long enough to even have it matter to them
Comment from : ManMeetWorld

In spite of how everyone is frightened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it's less likely to happen that way This forecast was not made in 2008, at least not by the general public, as I will explain below The ownership rate peaked in 2004, according to the other comment We reached a peak in the second quarter of 2020 and are currently at the median level From 2008 to 2012, it fell by 3, and in the second quarter of 2020, it dropped from 68 to 65
Comment from : Kelvin Johnson

Man, your videos are amazing keep up the great work Maybe you could do one about Naomi Klein's "Shock Doctrine" idea since this video was about the 2008 crisis
Comment from : Volrack

Islam is the only system that fixes all this Riba prohibition is genius to say the absolute least ISLAM will be the savior of societies
Comment from : sief Qasrawi

right now it seems the biggest looming financial risk story is China's economic implosion and Xi's mismanagement, and its global impacts, which is only just getting started
Comment from : perf b

from stock bubble (2001) to housing bubble (2007) to crypto bubble (2015) to meme stock bubble (2020) to FED ZIRP everything bubble (2023) as long as Tesla is above 50/shr we can be confident the bubble has not yet 'corrected'
Comment from : perf b

Could anyone tell me what the music on 29:00 - 30:07 is? It seems to be a remix of Lecrae's "I'll Find You," but I can't seem to find this specific mix Thanks in advance!
Comment from : Arela Cara

There’s a big ticking time bomb out there in the economy I don’t want it to be worse than 2008 but it sure looks like it’s going to be bad Might be a big reset
Comment from : Bigbirdyolo

Now that interest rates are back to the normal band of 4-8 maybe we get real productivity reignited
Comment from : non existent

This sure sounds a lot like FTX/Alameda Research and the whole crypto/NFT scene I don’t know how Sam Bankman Fried thought he could pull this off when institutional banks couldn’t
Comment from : Legal Coffee

bitcoin solves all the problems of fiat money, which is fundamentally fraud, and takes the power from the governments and gives it to the people
Comment from : ltethan649

Just remember how the government did everything for big business at your expense More evidence that the government is the illusion of choice
Comment from : Mitchell l

There hasn't been an expert leader in my lifetime, I've seen a few recessions 2008 was pretty bad, I remember the 70's and 80's growing up and the crash in the 90's known as Black Wednesday 1992 - currency speculation - that was awful
Comment from : Monni Monnickendam

2008 sucked! Was forced to be frugal with money in really tight ways even though I had made enough money early I'm glad I survived that period Currently working overseas but will return to my home country in the near future I'm a landlord I invested in property at the age of 22 Value has soared and renting out Will live on the rental income I receive and live with my aging parents for the time being At 60 I can withdraw from my superannuation (401(k)) Have savings and eligible for the Australian pension at 63 In the future I may downsize, sell the property and buy cheaper property and add the left over money from the sale to savings Lots of options for me The way I see it if you have $1m at some point, that’d be enough to create a portfolio that would pay you between 50k-70k in dividend income
Comment from : Marvisha Norris

Boomers have literally ruined everything
Comment from : Craven Moorehead

The same cabal who caused 2008 recession is the same cabal that released Covid-19 to the world
Comment from : Jacques Lee

I am in my 30s and I am just recovering from this The stress, mental health, and family problems worsened through the years as the recession set a chain reaction that affected year after year and now I am recovering financially but I am now physically ill There are millions of people who experienced the same or experienced far graver problems Whoever live through this we are the lost generation and hope one day those responsible are judged for the crimes against humanity they committed, they are the same people who released Covid-19
Comment from : Jacques Lee

Interesting It’s late 2023 now and they’re calling the recession averted brbr(Recession confirmed)
Comment from : JK - DEV

With inflation running at a four-decade high, the Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances My portfolio suffered a big hit, holding it further won’t be any good I've heard of people netting hundreds of thousands this red season How can I ensure this?
Comment from : Jamie Jeff

Greed is really the root of all evil
Comment from : clarimax

*Bitcoin ;) (longterm play)
Comment from : Dimalix [CSoHN]

Well, this didn't age well, now did it?
Comment from : Brian Case

The US government is the most evil entity for saving and bailing out the banks, and letting their corporate leaders slide without any consequences and yet not trying anything to protect homeowners from foreclosure Just goes on to say how all systems are rigged by these so called policy makers and how important it is to choose your leaders wisely
Comment from : Pranay singh

That is why Islamic Finance provides you with an alternative Must study that literature and develop ethical banking products
Comment from : SYED ADEEL HUSSAIN

No matter how it's packaged and bundled, no matter the "instrument", at bottom it is all cash and we all want more of it At the end of the day, cash will always be king
Comment from : WhiteRabbit

Tulip mania
Comment from : “Person”

In spite of how everyone is frightened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it's less likely to happen that way This forecast was not made in 2008, at least not by the general public, as I will explain below The ownership rate peaked in 2004, according to the other comment We reached a peak in the second quarter of 2020 and are currently at the median level From 2008 to 2012, it fell by 3, and in the second quarter of 2020, it dropped from 68 to 65
Comment from : Chris eearls

2008 was an amazing year for me! I met my husband I never even knew a financial crisis was happening But I am neither rich or poor Born in 1981
Comment from : Pollux Troy

ISLAM SOLVES ALL PROBLEMS
Comment from : moh islam

HEY MEN STOP YOUR MOTTO INBETWEEN EVERY 2 MIN IN SUCH A VIDEO
Comment from : 9PM Trader

One of the best and most informative videos!! Good job
Comment from : so cal 23

This country has changed from a place that encouraged and rewarded hard work and responsibility to the polar opposite
Comment from : matthew kühl

Enjoyed this, thank you
Comment from : Richard Donald Joseph Robin

Greedinflation of corporations again taking advantage of the american peoplebrIt's just easy with the help of washingtion swamp and legal corruption called "lobbyist "brWAKE UP AMERICA
Comment from : Sandra Leguina

Can you please post the list of who went to jail?
Comment from : Peter Northrup

My God! I could never put myself in this position I own a small apartment which I purchased in 2003 and now I'm done with mortgage payments Many would say they wouldn't deal with HOA's, but I'm not going to purchase something I can't afford Problem is people refuse to deal with their economic reality, don't budget and live above their means Oh, I almost forgotstop having children! Whatever happened to due diligence and individual responsibility?
Comment from : Milady Feliciano

great filmbrbr🌍
Comment from : BOSS Racing

Lesson from 2008? Greed and speculation and "show me the money" still rule Winner take all and "be rich or be gone" Better to be up to your neck in debt but have the fancy house, than no debt and a modest house
Comment from : Mr Bill

So I remember I just got married and got my first home few months before the crash happened in 2008, with huge mortgage loans, of course, and a couple tens of thousands of dollars in the stock market, which got wiped out while I lost my home It really ruined my finances I have since recovered, and have been able to build up to $380k again in portfolio, but I can see the trend again, and I'm really worried about how to protect my finance this time around
Comment from : Julian Maël

Capitalism has to go
Comment from : M P

What i learned prior to 2008 GFC, i was told a crisis is inevitable when more than 2/3 of the average population earnings is use to pay their mortgages, this was in 2006
Comment from : Juan Angeles

thank you very much
Comment from : Privat

Democracy is the rule of the stupid, poor and ultra rich
Comment from : Eartheart Baratheon

I’m starting to think the trend is create a bubble, and if you created a bubble know when to pull out and make a huge amount of money God, I hate those psychopaths at Wall Street
Comment from : Bern L

Great video It is too bad that more countries were not like Iceland and put those responsible in jail instead of rewarding them with millions of dollars for their incompetence and greed Until that happens, I would be worried that history will repeat itself since we didn't seem to have learned our lesson yet
Comment from : Eugene Gee

As someone who graduated in 95' I have lost more than I've gained Paycheck to paycheck for over 30 years 15 years left to retirement age At this rate, I will not be able to retire for minimally 30 more years Social security is close to bankruptcy There is no safety net everyone pays into It means we will all need to work into our 80's to eat, pay utilities, taxes, and transportation, much less rent or mortgages
Comment from : twentysix linx

The greed is so strong that leaders can not resist being stupid: The financial system will eventually fail so badly that no reboot is possible
Comment from : Mark R

I was 16 in 2008 while I was at school I'm not an American but Colombian in that year when the crash happened I wasn't aware of the finance literacy until one day a teacher tried to explained what the recession happened without knowing what is the stock exchange or how to make profit in the futurebrbrI used to have an expectation to get a partner, raise kids and buy a house Now I change my mind because how expensive it is and getting a job after college or university is only in any BPO (call center for short) where they pay more than any entry level job and higherbrbrThe funny part is I was about to make jokes in my head like merry crisis or drop any edgy comment about the US because it was too saturated and being a teenager was a pain in the assbrbrAnd I finally understand the consequences after the crash of 2008 However, I didn't feel the impact except some economic struggles in the housebrbrNow I learned personal finances in order to make a net worth/heritage and I'm applying with good results
Comment from : Gabbo The Fox

I was teenager that time, I remembered gas prices were so high we couldn't afford buying it so we cook our meals with wood or charcoal
Comment from : Denbanzzz

what's demoralizing is not even 20 years later and we are on the verge of an even more catastrophic collapse fueled by nearly the same exact reasons
Comment from : RuskiVodka

Most people venture into crypto to be a millionaire meanwhile I just want to be debt free
Comment from : Jeremy Good

The Big Short covers this situation well
Comment from : slumdog

Facts Furthermore, I watched this more than once start to finish Everyone should!
Comment from : Boss Geralt

so the ultimate plan was to lure the people into DEBT that we can never get out offbrULTIMATE CONTROL IS THEIR GOAL
Comment from : pogi boy

Graduated HS in 2008 Perfect way to start adult life
Comment from : Tannhäuser

Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60
Comment from : charlotte pauline

"You cant model human behavior with math" 👍🏻 brThe empirical economists (Keynes, MMT, etc) would like a word 😂
Comment from : DJ Klapp

I was a finance major and the more i learned the more I hated what I was learning The whole system is evil with alot of people who have zero moral compass They do not care about the well being of anyone but themselves
Comment from : Shea

You said someone near the end of this video that was mistaken Of course it isn’t true that “young people were less affected” by the aftermath of the 08 crisis It’s just that this is all we’ve known so we don’t complain We don’t know what we missed We’ve heard about it but never actually lost it This economic landscape is all we’ve ever existed in At least older generations have something to look back on brbrYou often hear older people saying “those were the good days” They’re right, they were You would think that when they say that, they’d put two and two together and realize why our generations are so disillusioned Why we have so many messed up, dysfunctional people brbrThe average person is destined to languish in our society The bar that one must reach in order to actually have a life with dignity and contentment is high enough that a large majority of people won’t be able to climb up to it 70 years ago, a person who is simply average in their field could have a life that was worth something A family and a home, a car, spending money, vacations The average person could have all this by just being standard for their job That sounds like fiction to us Seriously brbrOlder generations have absolutely no idea of just how lucky they were Their life was on easy mode Nowadays, it’s nothing like that Exceptional people get a nice life If you’re anything less than firmly above average, your life is going to have quite a bit of stress, resentment, the shame of inadequacy, etc If you’re just average or even below average, your life is going to be mostly miserable
Comment from : Giuseppe Responte

Comments feels like an AA meeting Having lived through this as a millinial has woken me up to how brutal the systems can be Hope we can fix this Great vid man❤
Comment from : Easy Greasy

As a Gen Xer, I can tell you, our retirement was hurt the worst Boomers were old enough they had had several decades of huge growth behind them Millennials had lots of time Gen X got nailed
Comment from : Mariahs Mom