Did anyone catch this 2-hour Frontline last night? (Note: it’s two hours long)
I watched most of it, I think it does a good job of covering the US market dynamics from 2008 thru today out how our economy got to where it is today.
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My relatives are tired of my talking about this for the last eight years. I don’t need to view this video, I think I probably could have written it. It’s more constructive for me to go outside and talk a walk in the warm SE Texas sunshine… but it looks like a great resource for someone who hasn’t been following this.
I spent a lot of time figuring out why the 2008 financial crisis happened. I think fewer than 20% of the population understand the reasons behind it and many (most?) do not care. One of the people who displays a good understanding of it is Clark Howard. I agree with most of his conclusions.
But during the period between 2010 and the recent failure of the Silicon Valley Bank I’ve not delved into the detail of how the Federal Reserve has interacted with the private sector. This documentary filled in a lot of the blanks for me .
I think the Fed’s actions are in large part responsible for the private sector’s addiction to low interest rates, to the point many cannot operate without it. I think we’re all in for a pretty scary ride in the next few years while that dependent private sector machinery is dismantled.