CNN: Understanding the Crisis
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khanacademy asked:
Video of Sal on CNN on October 10th discussing the credit crisis and a potential solution to it.
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A face to the voice…
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“If there’s a dead skunk in your house, you’re not going to notice the milk’s gone bad”
Must remember that!
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Congratulations Mr. Khan
You’re really a great guy who wants to help people for free and who does it on his spare time. Not to mention how useful and clear your explanations are. I understand everything from the first time you say it. I’ve watched the whole Calculus playlist and touched on several others (physics, differential equations, etc.) and you’ve always been a great teacher. Keep it up and thanks for everything.
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no please no deflation. Salary will get less?
And house prices go down?
No, i have a house, maybe i should pay off more of the mortgage?
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is that the owner of the utube channel?
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anyone want to chat
looking for friends UB
Kansieo.com
my dude!
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In my political economy class, i was trying to explain the credit crisis to a classmate…I only wish I had seen this video beforehand because I would have been able to deliver a much more easy-to-understand explanation that cuts through the complexities of the system and delivers the key points of the analysis. By the way, a very good and interesting solution. I think that it could work provided that the White house is in the mood for more stringent regulations as opposed to laissez faire econ.
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Explained really well. Opened my eyes up a lot about the crisis and how it affects us. we need people like you to be the brains of this operation that the Gov has been running. you should be their financial adviser and school them.
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never saw news like that. Now that is news!
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Abolish the federal reserve?
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I’m sorry. Someone let me know what is so wrong with the financial sector being nationalized?
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Sal,
You are great!
Thanks!
–ExcelIsFun
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Oh. Lol. Thanks!
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I have simpler explanation:
Violence isn’t a solution to societal problems.
The government operates on violence.
Taxes are violent.
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saw this on tv
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lol did u hear that “he only speaks German and Arab”?
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Cool Sal
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abolish the FED, use a non debt-based monetary system.
I wish there was some easier way, but there isn’t.
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The banks should not be owned by the government, as Khan says, but we should have MULTIPLE banks and the Treasury should loan them money, collected as intended by the Constitution, from tax on manufacture, sale and consumption–and NOT on income! Also, our Constitution provided for revenue from import tariffs! GET RID OF THE FEDERAL RESERVE BANK. CREATE MONEY FROM OUR OWN TREASURY.
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Khan’s friend “TODD” is right: WE NEED TO CAPITALIZE AN ENTIRELY NEW FINANCIAL SYSTEM. The Federal Reserve Act of 1913 violated our Constitution by taking the issuance/creation of our money FROM our own Treasury and allowed us to borrow money from private/international bankers which are merely putting us in DEBT and in 1913 we also got the IRS so our labor is taxed and the income tax PAYS the debt. We don’t have legal tender we have DEBT notes.
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The REAL problem is a lot of the CDOs (collateralized debt obligations) are backed by NOTHING and so are the MBSs (mortgage-backed securities). The other problem is that the BANKS we are dealing with are OWNED by the SAME PLAYERS that owned the investment companies (Morgan-Sachs, Morgan). This is a CONCERTED, ENGINEERED hostile takeover by the Federal Reserve/International Bankers of our country. THE FEDERAL RESERVE NEEDS TO GO.
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Go read Michael Lewis’s article “The End of Wall Street” at portfolio(.)com if you want to understand how the whole credit default swaps thing happened and why. It will REALLY **** you off!
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please discuss more of the solutions, the media has already reported exhaustive causes. Can someone give the answer on how to stop the economic recession forever?
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in need of the solutions….