The 2008 Financial Crisis - 5 Minute History Lesson

Sorry for the re-upload everyone! Wanted to fix a blunder I had in the original video since this is such an important topic.

I'm not a smart person. With no idea about economics too. So for people like me this is not a 5 minute video if I have to spend at least 15 minutes to get the most vague what those definitions that are casually thrown around mean..

Watch out world economy the 2030s great depression is coming and the writing is not on the wall yet!!!

2000th comment!

It’s happening again 2024

Dude thinks all of his subscribers are native speaker English😂😂. Why is he explain so fast?🤔

I love 5 minutes video from kapiso mo vlog

Prior to 2008 my parents were broke. During the crash they were still broke.

Capitalism and greed was the overarching cause of the GFC. Did we learn anything from it. I don't think so. Banks are still making obscene profits while people are starting to default on mortgages due to high interest rates.

I have watched multiple documentaries and movies regarding the 2008 financial crisis. This was the first piece of media to use proper visual and explanations of what happened. Thank you!

This could be partially why I remember 2008 as a particularly bad year and 2009 as a particularly good one

Maybe having artificially low interest rates to hide bad parts of an economy isnt a good idea

Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.

what

I watched this video in my high school's economics class!

"the big banks wont fail because theyre not supposed to"-bill wurtz. "the big banks wont fail because theyre not supposed to"-bill wurtz.

Housing should never be treated as an investment. Not at this scale.

2008

Didnt understand a piece of shit

All I see here is the rules can be changed if you’re greedy enough

Everyone lost money. My question is: where did that money go?

moral of the story, never rely or permit on a system that is bound to collapse or fall when you do not have the money to pay back the people that invested in this system but not knew it was risky

As someone who wasn't yet a working man in 2008, and barely felt the consequences of the crisis, I kinda love the crisis. Not that it actually happened of course, but the perfect shitstorm of events that all came together to burn everything down. It's fascinating how everything went wrong so right. You couldn't write this. It's insane, and I'm obsessed with it.

Greed should never trump comment sense. Yea comment sense is now worth more than a Harvard University diploma!

No lessons were learned. The "too big to fail" bankers were bailed out for their decisions by the taxpayer and went on to keep the same practices under a different name. The politicians blustered but ultimately did nothing because they receive huge campaign donations from Wall Street. Talk about corruption.

I agree about greed shouldn't ever be greater than common sense and that's why I thought this video was nonsense. The government created the housing crisis because someone paid them off to and then these companies all went and bought up all the houses on the dirt cheat and now nobody can buy a home because they jacked up the price so that nobody can afford and we all are forced to rent. That makes our rent an expense and not an investment. It's all rigged.

Most stable economy

Halfway through I thought Benjamin would come on and say "It literally can't go tits up!"

Is this what's gonna happen in Canada?

Can someone explain to me this in baby terms?

Even more confused

Good video. Don't forget the title and escrow companies turning a blind eye to fraud and getting away with it.

low risk or high probability

hoping for another crash so I can afford a home.

Really enjoy content related to real-estate boom and busts globally, fascinating topic. Thanks for sharing!

What 2008 financial crisis? What did we lose as a nation after American customers/clients borrowed an average $200K-$300K from their home and never have to pay it back? No home or house walks over to Europe or Asia banks after they poured into our housing market billions of dollar from 2001 to 2008. Everyone was able to buy a home (avg $500K-$600K, when working at McDonald) with 0 money down 80/20 piggy back program. Home went from $300K to $600K in a matter of few year and top it off at $800K. All crisises were just manufactured.

"Common sense and decency?!?" HAHAHAHAHA. cough Oh, right, you are Canadian. Love your work. Keep it up.

You forgot to mention that they’re doing the exact same thing today

I’m just gonna build a cabin from scratch instead of buy a house tbh

Repeal the Glass-Steagall Act and replace it with the Dodd-Frank Act. Brilliant.

I went to college for a bit and I'm just wondering can u break down the break down bc I still don't understand it. I think it all sounds illegal and like a pyramid scheme. It sounds messed up, that's a lot of money being exchanged by a lot of different ppl

subbed

This common sense you speak of…how common is it in reality?

I still don't understand

I watched 5 minutes of this without paying attention

how did banks make money by selling the morgages

So if you have fair terms and you were making regular payments on your home, then you wouldn't have lost your home/been affected?