A Great breakdown of the finincial crisis

This vid from an Australian talk show does an awesome job of breaking down the European finincial meltdown and showing just what a hopeless situation the world has gotten itself into today.

They break down, country by country, how much debt each country has and who they owe it to. It turns out the countries being asked to bail out the other countries are the ones holding the debt of those other countries. So what they're asking them to do is extend more loans to the countries unable to pay off their old loans.

Brilliant!

I thought I would give this thread a bump, as it shouldn't be ignored. The video provided plays as a Monty Python routine, and would be insanely hysterical if it weren't so insanely tragic.

Satirical comedy at it's finest!!

These guys are great. S & F

Thanks for posting this I needed to get some perspective...

The problem is that I didn't find a bit of this funny. I know it's supposed to be, and if I didn't know so much about it I might even be laughing.

People are going to starve as a result of this. People will die. I'm a little reluctant to let humor replace that as a forethought. Of course it doesn't help that the skit is very accurate in what it says.

Brilliant

Maybe I should become an economist, they don't seem to work very hard and they get money from the same people that bail out countries.

Seems like a thriving business these days.

[edit on 25-5-2010 by Freedom or Death]

Neither a borrower nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry.

~Hamlet, Act I, Scene 3; by William Shakespeare~

He looks the whole world in the face for he owes not any man.

~Henry Wadsworth Longfellow~

Who goeth a borrowing Goeth a sorrowing.

~Thomas Tusser~

Before borrowing money from a friend, decide which you need most.

~American Proverb~

Creditors have better memories than debtors.

~Benjamin Franklin~

Debt, n. An ingenious substitute for the chain and whip of the slavedriver.

~Ambrose Bierce, The Devil's Dictionary, 1911~

Debt is the worst poverty.

~Thomas Fuller, Gnomologia, 1732~

Buy what thou hast no Need of and ere long thou shalt sell thy Necessaries.

~Benjamin Franklin~

We laugh because it is true. What is remarkable is how much things have changed. For those who think the world is not going to a great spiritual metamorphosis only need to see this. This has being going on since day one. This whole debt process is not new, yet we, as a group are only now seeing the truth. Why can we only see now what has always been? What is different? The criminals of Iceland loaned themselves, themselves, 12 times the GDP, every time they ran out of money they just printed some up and loaned it to themselves. That means at least 11 of it was fraud. But they're free to walk, but if I sell my neighbor a apple I don't have - jail.