The Crisis of Credit
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
Thanks to Matt for showing me this video. It really helped me understand how we got into this economic mess although I think that these things were happening before 9/11 and the dot-com bust as I remember being pre-approved for an almost $200,000 loan when we were just trying to figure out how we were going to pay for a $139,000 loan back in 1997. The loan officer’s answer was that we do all this credit maneuvering that I almost felt like we’d have to go back to college to get a degree in loan management before we could make it work. Luckily, we just bought a cheaper house and it worked out for us.
One thing I do think this video shows is that everyone in this financial circle was at fault. So when these times pass (and they will pass!), how will you be thinking about where your money is invested or how you spend it?
