Saturday, 16 February 2013
More on the financial crisis
It's been a while since we talked about this topic in class, but here's a very interesting video shared by Salva. It shows a Canadian 12-year-old girl explaining the reasons for the crisis in her country and suggesting how to solve it. Although she is talking about Canada it could certainly apply to the whole world.
Subscribe to:
Post Comments (Atom)
National bank try to manage public debt catched by private banks, increasing taxes to the citizens to pay interests...do you recognise this situation? How had we arrived to this situation?
ReplyDeleteFor people interested in understanding something about, I recommend you to see the film Inside Job and to read something written by Leopoldo AbadÃa about the crisis to understand something about the actual situation. It's global, and also it affects modelic countries as Canada. No regulation of bank and financial systems only produce indecent behaviours of people looking for their own economical profit. Shark bankers and investors, and also some wicked or stupid politicians, helped for rating agencies and their unreal numbers are going to carry most countries to the bankruptcy because of the public debt and to involve people in the most absolutely poverty. Mortgages for everybody without control, no problem. Banks earn more money selling derivated financial products of this kind of loans than incoming money from the interest rate of mortgages.
To be continued...