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.

Dagogo you are really stepping up your game here. YES we want more long form detailed videos like this. You are an amazing educator for the Common people. Thank you.🙏❤🙏

I was working as a Computer Network Engineer at the time.
Then all hell broke loose over the next few years.
It was like watching a slow motion train wreck. As things imploded,
I lost my job, my house, my wife and my way of life.
I was trying to do consulting in any type of IT that I could find but no luck.
It was just too hard while I was fighting my ex-wife over child support and
paying huge lawyer fees. I finally just gave up and moved back in with my father and mother. At the time, my mother was slowly dying of some sort of brain related dementia or
Alzheimer's (I really don't think they ever really knew).
This is when I got low wage driver jobs at Pizza Hut and then as a package handler for FedEx. This is very hard work when you are going on 60, I wasn't a kid anymore.
I seriously considered some kind of suicide at this time. During all this I had run up my credit card debt to about $70k ( a combination of business debts and reeducation).
I ended up borrowing money from a friend and invested in foreclosures.
It was the only best game in town. I made a little money but nowhere near enough.
When my mother passed and then my father a few years later, I was able to pay off most of my debts with the inheritance.
As soon as I hit 62, I claimed my social security and moved to the Philippines. I live a meager life. I paid my debts and I am enjoying the lower cost of living.
I never thought this could happen to me. I had a good life up to the crash of 2008. Thanks for the video. It's a nice piece of work that shows how our lives were destroyed and many of us never recovered. My sons will never have a better life than my parents did.

What happened in ukraine 2008?..

Big short

The rich people stay wealthy by spending less and investing more without stopping then most poor people stay poor by spending like they are rich yet not investing but impressing.

I was gonna say those boxes looked like they were filled with a liquid and we know how liquids like to react and behave lol the risky box would actually always be full should put it at the top and the good risk at the bottom…….lol I see at the end how the whole thing is risky

Ehem, Credit Suisse you’re next

Cash isn't very good for investment, see the inflation. I stopped saving altogether, I lowered the time on the job so it fits for my rent and whatever I want, I don't want children to live through so I have none. I don't see the value of working more now and having something later, if you have nothing the government will help if you saved yourself, the goverment will tell you to use it or your investment fails and nobody cares anyway and it would have been the same if I just used the money all on the spot. I know I'll make the problem worse but nobody cares for anyone else so why not.

Besides gold it's also worth it to check out Bitcoin as value storage. It's basically like gold from the principal but just digital and completely decentral (so the opposite to central-/banks because it's basically unmanipulatable from a few people). It has the power to take away the power over the economy from the "1%" abd gives it back to all of us. This is why politicians are sharing so much bs about it.

#endTheFED

https://youtu.be/d-GVC09bDek, Credit Suisse Crisis

I can never forget 2008. I was 25 and just starting a career when the bank took the house. So I had to live out of my car while going to work and night school. I would never trust an adjustable rate mortgage again. I needed to have an address for that job but found myself moving so many times wherever I could afford I could hardly get my mail lmao. Hahaha not long after that thievery, a different bank tried to charge me $1000 in overdraft fees for a cheeseburger they labeled as a medical emergency. I went all the way to the bank manager about it. What a bunch of bs quackery it was. The working class got pillaged. Hard work can just get you used up if you aren't careful. I laugh because I don't know how else to cope and I have no anger left in me. When you aint got nothin you've nothin left to lose. Don't get me started on how the health care disappeared next but work work work build us that pyramid! Hey bankers! You're welcome for all the blood sweat and tears!

the advice should be, "dont talk to any financial advisor. educate and make your own decisions and accept the consequences"

nice one

at least i only lost $400k+ from 2020 till present… LOL

very lovely video.most countries believe in credit and forget actual productivity

It was Aladin AI Bot which saved the world economy then, now will they Aladin AI bot work with so complex economy and everything bubble!

Who paid you for this shit? It is just nothing more then ANTI-WESTERN PROPAGANDA

Great video a video explaining the glass stegall act would be great

It's crazy to think of the magnitute of this crash. I was also too young to understand it, even when I got into investing and heard about it very often, it was difficult too wrap my head around it. Your effort in making this video is clear as day. Thanks for your amazing work!

What must be remembered is that the Presidential candidate of the Democrat Party in 2008 ran on a campaign promising the write down of mortgages
(the adjustment of the terms of the mortgages so that the lenders would recover their capital with payment amounts the borrower could make this keeping the homeowner and tenants in their abodes.)

After winning the election the new president met with the representatives of Wall Street and the Financial "Industry" where he famously told them,
"I am all that stands between you and the mob with pitchforks "

There was no creation of a publicly owned bank from an insolvent criminally run national bank, there was no prosecution of corporate officers for financial fraud, there was no regulation of interest rates charged to consumers.

Millions of Americans, homeowners and tenants, lost their abodes, the properties foreclosed, the dwellers evicted. Many of the foreclosed having to pay tax upon value of the forgiven debt.

Today, the financial "industry" has completely left the real economy trashed completely, while being assured of unlimited bail out funds forever.

Those that call for reform are labelled as anti capitalist communists or domestic terrorists.

Thank you for the honest information.

Crucially, lower interest rates now seem necessary to bolster the economy from more ground up – unless one equally weighs investment loans and primary vehicle/mortgages. Corparate avarice continues to fester, tanking the global economy overall with high interest rates, as non-US citizens invest in USD as other countries' own economies scramble to combat their own fiat value ratio.

Can anyone specify the song name at 25:30 ? i really love but Shazam doesn't pick it up 🙁

Well done video, but god is this depressing. Eat the rich.

Great video. I have been a subscriber for a few years and your videos are getting better. I was your age in 2008 and I kept my debt sustainable and worked hard including weekends and public holidays. The best investment for anyone is, in themselves. Watch trends, do courses, learn as much as you can from the best resource that suits your learning ability. Stay healthy, don't eat junk food, walk or exercise each day and help others less fortunate than you. True happiness is found in helping others.

Very informative and well-delivered video. You've explained it very well.
I was in my 50's in 2008 and can remember very clearly the fear and tension at the time.

dude this documentary is sooooo good we used it in our college during our economics lecture

Elite system workflow. The Great Reset WEP.

btc

That what happened when people cheated the system for there greed lol

I just had a test on this, but I’m going to continue watching anyway.

Around 4:08, you leave out the effect the Taliban completely destroying a huge amount of the world’s opium poppies around 2000 and the financial shock that had.