A Simple Explanation of the Credit Crisis

A terrific explanation considering how simple he kept it. It is presented in an entertaining and easy-to-understand way, although this does come at the expense of overgeneralizing some parts.

The following is the thesis project of Jonathan Jarvis toward the completion of his MFA.



The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

An anniversary to remember

"Economics as a subject matter is normally lacking in drama; change for better or worse is incremental and often discovered in a scholarly way only after the fact."

And so the brilliant John Kenneth Galbraith wrote in his book, A Journey Through Economic Time, then going on to name one notable exception: Black Tuesday.

Today is the 79th year anniverssary of the infamous stock market crash of 1929, that sparked the Great Depression. If the great Galbraith had lived, he would now have two exceptions as we are in the midst of a similar historic economic time, the credit crisis of 2008.

It's important to pay tribute to this significant moment in world history. The lessons learned during that time has given us great insight to deal with our present day problems, while serving as a precendent regarding how weak the economy can get.

79 years ago.