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Economic Armagedon – The World Leaders Who Want a Re-Think of Capitalism! Plus: Stocks Rallied a Bit Tues, & Frmr British Official is Warning It’s time to Stock Up Food & Water. (Video) (Video)

Tuesday, August 25, 2015 10:12

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(Before It's News)

Global Financial Meltdown – One Of The Best Financial Crisis Documentary Films

25 Aug 15

Some wonderful vids for you folks and please do heed the advice from those in the know. Stocks rallied a bit Tuesday, but a former British government official is warning that it’s time to stock up on canned food and bottled water. Whether it’s now or later, that Third Horseman of the Apocalypse will ride.

Also: Israel nearly bombed Iran (three times); Abbas picks a successor and turns to Iran for help; and Ayatollah Khamenei outlines his plan to take back Jerusalem.

Plus Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.

But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced “light touch regulation” – giving bankers a free hand in the marketplace.

Meltdown moves on to examine the epidemic of fear that caused the world’s banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognises that this one is far from over.

We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.