How the 2008 Financial Crisis Still Affects You

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ColdFusion is an Australian based online media company independently run by Dagogo Altraide since 2009. Topics cover anything in science, technology, history and business in a calm and relaxed environment.

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Hi, my name is Dagogo Altraide and I create and narrate all the videos on here.This channel aims to let you experience the cutting edge of the world around us in a relaxed atmosphere where you can feel at home and have fun. Learn the captivating stories about how our world came to be and also learn what's happening in the cutting edge today.


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  1. As someone who was still in middle school in 2008, I never really understood what happened. Even watching documentaries and movies about this crisis didn’t help much. But this video here is such a clear and structured piece of work that finally give long awaited answers for me.

    Really awesome to live in the information era.

  2. The only thing that really sticks with me about the financial collapse of 2008 was when I was in class with an older student in his 50s who was watching at his 401k evaporate. Prior to that I had two friends / acquaintances who went from working as fast food managers to selling mortgage loans and making bank doing so. Didn't put 2 and 2 together till I saw the movie "The Big Short".

  3. The Title should read: " How the 1971 Financial Crisis Still Affects You"
    I appreciate the attempt to enlighten, but you are missing the boat. 2008 was the breaking point of the pure fiat system started by Nixon.
    We are a gold backed republic by the decree of our constitution.
    The rest of the world in realizing the game is up and real money(trillions) is headed for silver and gold.
    Crypto is for kids and will be wiped out.
    Everything you're talking about are symptoms of a fiat system. It's the ability to inflate whenever you want to promote growth. That was the goal of the USA. We export monopoly money and receive real goods and services in return.
    I wish you would give out meaningful info.

  4. Imagine if the US government had spent that $2.5 trillion dollars on stimulus measures. People could have money to go out and buy products and services from local businesses, and keep themselves out of poverty. When will we get violent about this type of tyranny? Nothing else is working

  5. I would argue the real economy started declining from 1994 when Alan Greenspan changed the measure of inflation, the BoE followed and so did other central banks, that's when the everything bubble started!

  6. Great video. All these financial catastrophes are only possible because the world is on an unbacked fiat standard which allows for artificially near 0 interest rates, which cause all these distortions, risk-taking, and blow-outs. Agains and again. The only solution is to return to a gold standard of hard money. This time though the world will likely go on a hard money standard with Bitcoin, which is digital gold for the digital age.

  7. Great documentary. Goes to show those that operate on the top are seldom held accountable for the disasters they create. In fact they sign golden parachute contracts. We elect politicians based on their political party and not on their actual abilities or intellect, which is needed to understand, create, and enforce good laws. We do not take democracy seriously. And Nobel prizes are awarded to some without merit. Finally we fail to learn from our mistakes because nobody truly underrated the full complexity of a modern world economy and how to reign in the greed the permeates the banking system, our government, and mega corporations.

  8. amazing. i came to Australia for the 1st time in 2008. Aus wasnt affected back then, but i remember hearing govt was handing out cash to keep the economy going. the Govt just loves printing money.

  9. Economy + Greed = Ticking Time 💣

    Mainstream media: *creates news why younger gen are not able to buy just one home because they had to live paycheck-to-paycheck and because they often buy expensive coffees.

    Cold Fusion TV: *Explains the cause of major financial crisis, which are the greedy financial institutions.

    Mathematicians and economists on financial institution who survived financial crisises: "It wasnt us who caused that, but let us invent new higher risk higher return product in a more modern world, so we can serve to our hungry 'share holder'".

    So when will be our next crisis?

  10. Good piece, but oh man, there was so much more! Bernie Madoff and the nonprofits all going bust, IndyMac and the non-too big to fails going thru potential runs on FDIC funds, forced mergers of all the banks to give access to the discount window.

    But well done.

  11. I was 10 in 2008, and I spent my time in school terrified of being one of the countless unemployed young graduates. Everyone has a degree and no one is hiring. So I've done everything I can over the years to make my CV as perfect as possible. Great grades, great universities, great internships, degree with high employment rate and high salary potential, any possible advantage. Fear has controlled every one of my life decisions, all because of 2008.

  12. "Think of assets that have no financial engineering behind them. Physical gold and silver, government bonds and plain old cash."

    Ehhh? These are all products with no inherent value. Even gold is just a piece of metal. And talk to a financial professional? Arent those the ones who created this mess? In uncertain times, just dont be stupid. Dont take on large loans. Pay off debts you might have. Make sure you have a steady job in a non-volatile industry. Make sure you have some savings. And dont, and I mean dont ever listen to anyone who tells you he has a "magic" solution. Unless you are among the 0.01% who actually has any influence at all, there is no such thing. Sometimes you will just get f-ed and the only thing you can do is get f-ed as little as possible. In the end , you dont live to make money, you make money to live. As long as you remember that, you'll be alright.

  13. I was in HS Freshman. My mom was really getting depressed and worried about making money for the family, as the customers in her nail shop began to decline. Dad had to find labor work to help out. Kids at school skipped lunch because some of their parents couldn't afford lunch money (although they were more worried about looking cool, lol). Many great teachers were gone coming back from the summer break.

  14. When you're criticizing Ben Bernanke, for starters, hindsight is 2020, so its not ironic whatsoever. Also what did you expect him to say? Oh the sub prime loan crisis is out of control and may be the end of civilization as we know it? I mean come on, of course Ben was going to say the problem was solved/contained.

    We also need to give ALOT of credit to Ben Bernanke. He had studied the great depression and knew that a liquidity crisis was the end of the banking system and the economy. He made sure that liquidity didn't completely collapse, and probably saved the economy. It would have been total armageddon had he done nothing, so he SHOULD have received the Nobel prize in economics. Nothing ironic in the slightest.

  15. Think about how crazy this leverage was..if covid had hit during this time and caused massive supply chain issues at the same time the entire global economy would have collapsed and easily nuclear war broken out. Lehman wasnt just taking risks, they were actively ttrying to send the world to hell in a hand basket molded from CDOs….all with full knowledge…yet that isnt criminal, but damn if the executives carried 2 grams of weed it was….absolutely bonkers, unimaginable, and traumatic.

  16. Lets not forget that a large part of the financial crisis was caused by people taking on mortages of 100 of 1000's of Dollars on very modest salaries in the hope that prices only would ever go up. So it is not just a story about mismanagement, but also a story that stupidity, greed and taking on gigantic loans are just bad things in general. And its the same now: if you bought a crazy expensive house you can only afford when interest rates stay forever at 0.5%.. well….

  17. Financial crisis is deeply an ethical dilemma because the people who plan them and cause them are allowed to rebuild the same destructible models over and over again. The solution is to implement ZERO Interest rates as a start. This economy is living on steroids.

  18. you're telling it as if it is history, but nothing has changed since 2008, global finance is still free to do whatever the fuck they want, all the western governments still support them, and they're ready to destroy their own countries and people livelihood to make their friends and themselves rich (see what happened to Greece). Look at the reserves of the major banks, they're still ridiculously low compared to their exposure to the markets.
    the fact is the ultra rich know exactly what's coming, a collapse, and they're just extracting as much wealth out of the system as they can, while they can. they don't care anymore about social movements, they know they can buy time with police and army and distractions like Trump, while they build their bunkers.
    you should actually do a piece on that, how the rich are detaching themselves from the real world, they know they took way more than they deserve and now they only think about how they can get away with it.

  19. I was in highschool when this happened. I went into the workforce after and landed a fairly decent job. My goal was to save to afford a good deposit on a home. I was eyeing something around 400k (in my currency) after about 7 years of working and saving 70% of my paycheck strictly, Housing prices shot up to between 700k – 1 million and are still on the rise. Buying a house is next to impossible. Most people in my generation (millenials) even with decent/better jobs than me all are renting apartments or room mating with their friends. says it all really.

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