Super Rich: The Greed Game
Posted on January 16, 2009 by Documentary Log
in lifestyle, society
The recent housing meltdown and sub-prime mortgage crisis was instigated by a few greedy people.
As the credit crunch bites and a global economic crisis threatens, Robert Peston reveals how the super-rich have made their fortunes, and the rest of us are picking up the bill.
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comment #1638 Professor_Blitzkrieg
This is a reply to comment #755
kekeke credit comes from inflating the money supply
reply | permalinkwhen you inflate the money supply, the value of money goes down.
People who hold their assets in money get poorer.
People who get the new money get richer.
Keynesians claim that this credit expansion fuels investment and therefore drives up GDP.
How can this be true if consumers are also losing their purchasing power, thus reducing consumption and therefore harming investments made with the assumption of particular interest rates.
comment #1275 Jason B
Those greedy bastards don't want rules because they don't want their 'freedom' to be hurt... We need to teach them that freedom stops when responsibility begins...
reply | permalinkcomment #755 Ron
Simply amazing. Thousands of years of economic discipline thrown out the window.
reply | permalink