I don't know who Jonathon Jarvis is. But sometimes a picture (or video) is worth a thousand words, and this is worth a couple thousand at least. Anyone who'd like to better understand the current credit crisis will find the 11 minutes it takes to watch this well worth the time.
Great Explanations
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Wow, that was incredibly helpful. I feel as though I need to watch it 5-6 more times, take notes, and quiz my wife on it in order to fully understand (read: explain it to someone else) because it's so complicated and there are so many buzzwords involved.
Thanks for sharing this, Matt!
I'm glad you found it as useful as I did. If you get through the first 5 or 6 minutes it really picks up at that point, and I think the visuals do a good job breaking down all the technical language and showing what the problem is. It doesn't really matter if you understand the intricacies of a "credit default swap" or the inner workings of a "collateralized debt obligation." Non-economists can still grasp the basic problem! Which I think is important if we're going to hold our leaders accountable to lead us out of this mess in a responsible way, which they aren't.
I agree! At first I was skeptical, but then it was information overload. The visuals really helped keep me tracking. I'm grateful that I can actually understand what's going on with the credit crisis now.
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