A good documentary that covers the world wide effects of the Global Financial Crises

I found the documentary to be very informative. Before I saw the program I didn't know about how militant unions had overseen French workers taking their bosses captives. I do understand the frustration and anger of the workers who were made redundant seemingly over night. But I can't condone them holding somebody captive.

Having watched the documentary a lot of my existing thoughts have been strengthened. The world wide bail outs were or are the greatest financial scam in modern times. IMO the bail outs killed off any chance of a economic recovery taking place after three or so years of hard times. All the so called supporters of Free Markets quit their so called principals in a heart beat. Sheer insanity is the words that spring to mind.

The craziness of property speculation in Dubai and Spain is well shown in the documentary. I had known about a Sp ain's empty airport for a few years. I hadn't known about the massive apartment block that the scope of a medium size town. None of the apartments were connected to water or sewage. Gee a lot of bribes must have been paid to local government during Spain's property boom.

a reply to: xpert11

If this documentary doesn't explain WHO and WHAT private western central banks are

And how they produce currency with interest/debt attached to it

Then this documentary is beating around the bush and not solving anything

Want a real documentary

Watch

The money masters

originally posted by: LostAndFound2
a reply to: xpert11

... Want a real documentary

Watch

The money masters

I'll look for it, but a link of some kind would be both thoughtful and helpful.

I'd think both together might give a fuller picture.

a reply to: LostAndFound2

This it?

I'm on mobile, can't remember the code to post YouTube videos and it's not in the mobile interface. I'll try to fix it later. Here's the address:

youtu.be...

It's 3 1/2 hours long!
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Spain is an easy one to explain. Originally, there was a strong economy going with British retirees leaving the UK and retiring to Spain. They'd buy property as a retirement investment and take advantage of the low cost of living. There was always the hazard of investing in timeshare properties which wouldn't be built until they had a whole load of investors. Owning a property built without planning permission was another risk.

But if you did buy a property with planning permission and supervised construction yourself, you'd could live happily. But then other property developers had a brilliant idea - get existing residents to pay for the connection of new developments through property taxes. The developers could build new properties and have someone else pay for road construction, sewers, power and telephone lines. They could then concentrate on building homes.

The property market collapsed. No-one had the security that a shanty-town wouldn't be built right next to their home, and they'd have to pay for it.

a reply to: incoserv

Yup

That's the one

The Global Financial Meltdown movie follows a lot of the official story through that period. The parts that did get exposed in congressional meetings and other higher level events. The movie was good in showing some of the international repercussions.

I found it a little light on details, a bit like the 9/11 Commission report. Was it really just one man responsible for AIG's shortfall? How Iceland was the only nation with incompetent Russian mafia bosses running the banks misses the point that Iceland was the only government to tell the banks no.

Overall it does have a lot of important pieces about what happened, but there is more to the story.

As for Money Masters - 10/10.