Overdose: The Next Financial Crisis
Overdose: The Next Financial Crisis
Overdose: The Next Financial Crisis is a documentary by Journeyman Pictures. The film does a fantastic job of explaining the history behind the 2008 crash. Several experts like Peter Schiff of Euro Pacific Capitol and Gerald Celente of The Trends Journal speak in the film. Overdose: The Next Financial Crisis explains how relaxed lending standards promoted by President Bill Clinton and President George W. Bush helped to inflate the housing bubble. It also explains how the funds that were pumped into the economy via stimulus spending by the government was wasted. Additionally, all of the excessive money printing borrowing and spending by the US government is only creating new bubbles. Every bubble is looking for a pin to pop it, so the next crisis is inevitable.
Overdose: The Next Financial Crisis by Journeyman Pictures
Overdose: The Next Financial Crisis shows how none of the core issues that created the last bubble have been solved. Yes, banks have certainly tightened their lending standards, but little else has changed. Most of the “too big to fail” banks responsible for making the loans are still there. The ones that are not were absorbed by the others making banks much bigger than the original “too big to fail” banks. We have gone from “too big to fail” to “too big to bail”.
Governments around the world have used up there financial ammunition and have few tactics left to deal with another financial meltdown. Interest rates have been driven to near zero percent and it is not possible to drive them lower. Additional increasing of the money supply would not be likely to stave off another crisis. It is viewed by many to be the cause of the next financial crisis.
David Walker, Former US Comptroller general speaks about the likelihood of a bond bubble collapse in the near future due to our excessive borrowing. In the film, he explains that bond buyers are beginning to worry about the credit worthiness of the United States. If you enjoy this film, check out Journeyman’s YouTube channel for other documentaries he has produced.
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