goofball223 (November 30, 1999 at 12:00 am)

Hilarious. The sequel to this is the episode where Barak Obama bursts in wearing a cape and kills everybody.

zsylvana (November 30, 1999 at 12:00 am)

The world has not been kind to Friedmans Neo-liberalism,and Neo-liberalism not to us,that grab-bag of ideas based on the fundamentalist notion that markets are self-correcting, allocate resources efficiently, and serve the public interest well. It was this market fundamentalism that underlay Thatcherism, Reaganomics, and the so-called Washington Consensus in favor of privatization, liberalization, and independent central banks focusing single-mindedly on inflation.

zsylvana (November 30, 1999 at 12:00 am)

A quarter-century, there has been a contest among developing countries, and the losers are clear: countries that pursued neo-liberal policies lost the growth sweepstakes.Though neo-liberals do not want to admit it, their ideology also failed another test. No one can claim that financial markets did a stellar job in allocating resources in the late 1990s, with 97% of investments in fiber optics taking years to see any light,and the more recent massive misallocation of resources to housing.

erictjie (November 30, 1999 at 12:00 am)

i thought we already have financial crisis since year 2000

happy2b80 (November 30, 1999 at 12:00 am)

Absolutely brilliant. Thank you for making it easier for people to understand, hopefully this will encourage them to get out and read and take action to create positive change in the long term :)

Kalydosos (November 30, 1999 at 12:00 am)

Well done young man!

sludgewar (November 30, 1999 at 12:00 am)

Beautiful my man, well done!

purenirvana (November 30, 1999 at 12:00 am)

Quick question- Who is the first bank (the one that gives the mortgage) selling the mortgage backed securities to? It seems to me like this was all one massive gamble based on the value of homes always going up. Is this correct? Thanks.

gcalvanetten (November 30, 1999 at 12:00 am)

Thank you for explaining this to a financial nit-wit. The hats were particularly helpful.:D

ertreri (November 30, 1999 at 12:00 am)

what are the CDSs?do you mean to say the real big problem is the huge foreign USA debt? and the fact with unemployment on the rise, USA is about to see it's GBP fall down, while debt continues to rise?