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> Can someone here enlighten me how a default can be "contagious"? The 2010 movie "Inside Job"[1] about financial crisis in US presents real-life examples, sta
by hericium 5y ago
> Can someone here enlighten me how a default can be "contagious"?
The 2010 movie "Inside Job"[1] about financial crisis in US presents real-life examples, starting with the Icelandic financial crisis.
There is also this Warren Buffet interview[2] which presents his unique viewpoint on what happened in the US around the time Lehman Brothers defaulted in 2008. You probably won't gain any knowledge from it other(edit) than how the financial sector assigns blame.
edit: word "other" added in previous paragraph
[1] https://www.youtube.com/watch?v=T2IaJwkqgPk https://www.youtube.com/watch?v=T2IaJwkqgPk "Inside Job (2010 Full Documentary Movie)"
[2] https://www.youtube.com/watch?v=k2VSSNECLTQ https://www.youtube.com/watch?v=k2VSSNECLTQ "Warren Buffett Explains the 2008 Financial Crisis"
- bellyfullofbac 5y agoThe Icelandic finance minister was flying to the UK (or was it NY) to have some talks about the crisis, he was so worried about the banks collapsing, he brought cash in case his credit card stopped working while he was travelling...
- lotsofpulp 5y agoI take a bunch of cash when traveling regardless of banks being about to collapse. The electricity can go out anytime. And since I am traveling, especially internationally, I might not have access to a network or community I can call on, so it seems prudent to have a rigorous plan B.