Money | March 20, 2008 | Comment on this video (1)

Mum knows best?

DaveHill
Could Dave Hill’s mum teach the leaders of the world economy a thing or two about borrowing money?

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    Money,   Guardian Vlogs
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    Economy,  Money,  Economics,  Guardian Vlogs,  3 more
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1 comment // Mum knows best? // Video

  • phillyharper
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      phillyharper  
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    • They are still dropping them there share prices, and Larry Conn from the Guardian is suprised by the lack of rioting in the streets, ordinary Americans have been conned he says,

      "The method chosen was simple. Whip up a colossal housing bubble, convince consumers that it makes sense to borrow money against the rising value of their homes to supplement their meagre real wage growth and watch the profits roll in.

      As they did - for a while. Now it's payback time and the mood could get very ugly. Americans, to put it bluntly, have been conned. They have been duped by a bunch of serpent-tongued hucksters who packed up the wagon and made it across the county line before a lynch mob could be formed."

      http://www.guardian.co.uk/business/2008/mar/17/economics.useconomy
      http://news.bbc.co.uk/1/hi/business/7306223.stm

    • 4 years ago
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