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> Also, for those of you who didn’t live through 2008, there were plenty of people who assured everyone that everything was OK right until the music stopped In

> Also, for those of you who didn’t live through 2008, there were plenty of people who assured everyone that everything was OK right until the music stopped In the 2nd or 3rd week of the 2008 crash starting, they put on CNN this guy who predicted the entire crash years ago and wrote a book about it. And also 3-5 finance experts. All of them were laughing in the guy's face as the guy explained what was happening, why it was happening and what exactly was going to happen very soon. They were discrediting, belittling him and assuring the public how everything was totally okay. All of them were actual prominent personas in finance, with education, experience, credentials and whatnot. Things happened exactly as the guy wrote in his book and explained on CNN. Everything came crashing down. What's unforgettable is how all the actual experts with credentials were reassuring the public that everthing was ok SO hard to the point of laughing in the guy's face...

brandonmenc 4y ago
https://www.youtube.com/watch?v=1G0tfb8ZefA https://www.youtube.com/watch?v=1G0tfb8ZefA
- nostromo 4y ago
  The second clip with Ben Stein (?!) being as confidently wrong as a person can be is hilarious.
  - bsaul 4y ago
    i did buy stocks in 2008 though, and that was my most profitable investment in my entire life. He may have had a point.
jonnycoder 4y ago
If the talking heads on the news were told how to react, then it is logical that they maintain the perception that everything is ok. A lot of economic factors are controlled by perception since we are debt based economy. If everyone in the US wanted their money in cash or gold/silver, banks and the entire system would collapse because it is not there. And in 2020 the Fed removed the 10% reserve requirement so I don't see that fairing well.
spookybones 4y ago
Who is the guy?
- wincy 4y ago
  Maybe Nassim Taleb?
- zamnos 4y ago
  Peter Schiff
  - throwawayfky 4y ago
    [flagged]
- pharmakom 4y ago
  Roubini. He’s predicting another crash driven by debt.
deleted 4y ago
[deleted]

brandonmenc 4y ago

https://www.youtube.com/watch?v=1G0tfb8ZefA https://www.youtube.com/watch?v=1G0tfb8ZefA

nostromo 4y ago
The second clip with Ben Stein (?!) being as confidently wrong as a person can be is hilarious.
- bsaul 4y ago
  i did buy stocks in 2008 though, and that was my most profitable investment in my entire life. He may have had a point.

jonnycoder 4y ago

If the talking heads on the news were told how to react, then it is logical that they maintain the perception that everything is ok. A lot of economic factors are controlled by perception since we are debt based economy. If everyone in the US wanted their money in cash or gold/silver, banks and the entire system would collapse because it is not there. And in 2020 the Fed removed the 10% reserve requirement so I don't see that fairing well.

spookybones 4y ago

Who is the guy?

wincy 4y ago
Maybe Nassim Taleb?
zamnos 4y ago
Peter Schiff
- throwawayfky 4y ago
  [flagged]
pharmakom 4y ago
Roubini. He’s predicting another crash driven by debt.

deleted 4y ago

[deleted]