The financial crisis explained

Dear (erstwhile) readers,

More content and a new banner coming soon to this space.  Honest.

But first, for your edification, a thorough understanding of the cause of the financial crisis plaguing the US and affecting all the rest of us.  Reading this linked article will only take you two minutes, and it's written from the perspective of Pokémon as explained to a 14 year-old girl.

I feel smarter already, and it's not even 9 am.

Financial Crisis Explained

Comments

[Émilie B]

Well thanks, Simon. I'd been asking people around me for explanations, but I didn't quite get what was going on. I was hoping to find a really dumbed down version, but had not put any active googling skills in motion yet.

Mind, I think I'll do further research to get more pieces of the puzzle... eventually.

Right now, I'm more focused on the CDN dollar going down, and getting some money exchanged for our upcoming trip to the US asap.

[Émilie B]

From your Twitter list on the right: "I like how the name "McCain", in Canada, is largely associated with "Deep and Delicious" frozen chocolate cakes. Now THOSE are harmless!"

Harmless, carbs? Eh...

[Moksha Gren]

That anology is stupid...I mean, if we all had bought Pokemon Houses, we wouldn't be in this crisis in the first place. If your house could evolve into a cooler house, then the house would be worth enough to ensure the loans against it. Hurray for Pokemon Houses!!! Course, then we'd have just loaned even more against it...so I guess we'd have ended up in the same mess one way or another :(

[Mark]

That's about as well as anybody else has explained, except on a level pretty much everybody can understand.

Interviewees on NPR have been saying it that way (without the Pokemon part) for weeks. "You don't loan money to someone you know cannot pay it back. If you do, then you're a fool." Then it's just called giving it away, and you should call it that.

Hey, that's what we should do... require everybody who wants a home loan (but can't afford a conventional one) to write a grant proposal. Literacy rates would skyrocket!

[Simon]

Emy,

That's about as succinct an explanation as I've seen, and it really put things in perspective for me, so I thought I'd share it with folks. As for the carbs, well, I think they're pretty harmless compared to Senator McCain. Now THERE's a man I'd be afraid to see in the Oval Office!

Moksha,

Hooray for Pokemon houses, indeed. If I could live in a house that automatically evolved over time??? That would be sooooo cool! But the analogy works for me, you know? That's all.

Mark,

If there is anything we could do that would improve literacy rates across the continent and the globe, that would be frikkin' awesome! As for the foolish folks loaning money to those they KNOW would have a hard time repaying... well, hopefully this will be a lesson learned for ALL. Without consequences that are too dire.

[Dave]

I love the new banner Simon! *chuckling*

And, the explanation on the economy is great too. I've seen one better, it's a powerpoint presentation. I'm going to have to post it on my blog sometime soon.

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[andi]

Hi Simon!

Thanks for not forgetting me during my absence.

Anyhoo, I wish I could say that I read the article you linked to, but I've grown tired of reading about the crisis. I still can't get enough of the Daily Show, but somehow it takes less effort to sit there staring at the screen.

I'm just going to pretend like everything's tickedy-boo and that our economy isn't going to follow theirs into the toilet. Sounds reasonable, right? Ignorance works, right? I know, I know. I'm going to drink myself into a stupor now.

[Nathalie]

Thanks for the article.
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