How the markets really work (2007)

Here’s a more intriguing version — Bird & Fortune audio over economic and market data as visuals

Category: Digital Media, Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

17 Responses to “Bird and Fortune – How the markets really work, Subprime Crisis”

  1. Doublewide says:

    In the words of my favorite reggae DJ: “ALL KILLAH NO FILLAH”! Cheers

  2. Doublewide says:

    In the words of my favorite reggae DJ: “ALL KILLAH NO FILLAH”! Cheers

  3. Spencer says:

    There are parts of this that are sadly ironic and funny. However, I am struck by the inherent racism of his remarks. The way he described the “black guy in Alabama” who cant pay his mortgage was very unfortunate. Although the pair did dive into the personal motivations of greedy lenders, no mention of their race or their social status of mid to upper middle class professionals was touched upon. Those professionals and their lack of sound business ethics and foresight are one of the main reasons we are in this mess.

    I go to the University of Oklahoma and there have been several remarks made in classes regarding misinformed views about the CRA and its role in this crisis. I know the speakers here were not railing against that bill specifically, but that general attitude must be checked before it snowballs into outright ignorance of the real reasons we are in this mess.

    Thank you for running this blog, it is extremely informative and up to date. I am a poli-sci major so I really appreciate how you break down complex financial matters for non-econmic majors to understand.

  4. philipat says:

    Spencer. Lighten up, this is comedy/ satire. Can’t you see the humour beneath the political correctness, which is not always necessary outside the US.

  5. JustinTheSkeptic says:

    Spence, a little asthetic distance neccesary. Like philipat mentioned and I’ll paraphrase: people outside the U.S. get to think and act like grown-ups, and do not except the social engineering that so many in this country seem to swallow hook, line and sinker.

  6. Phil Kaye says:

    Also, the personae of Bird and Fortune themselves is a parody of the establishment: well spoken, affluent, elderly white men who are unaware of the situation. That’s what makes them funny. It’s a strain of British satire that’s been around since before Evelyn Waugh, although he perfected it.

    The Bear Stearns reference must’ve been pure luck though.

  7. You just cant sell this kind of sophisticated humor in the domestic market. Maybe we could package up a offering of British TV, and sell it as a HBDO (Humor Backed Debt Obligation), and get a credit on each HA HA!

    If the humor failed to tickle the American funny bone (Due yo most of us Yanks being, you know, stupid and unsophisticated), we could underwrite a HDS (Humor Default Swap), whereby we ship all of the stupid Americans who took bad paper, wrote bad paper, regulated, and defaulted…..send them all to the Kamchatka peninsula (That’s Russia).

  8. …..send them all to the Kamchatka peninsula (That’s Russia).

    Posted by: Alan Wilensky | Oct 5, 2008 9:04:57 AM

    Alan, nice idea, but that’d be a tremendous waste of a piece of Geography that makes Yellowstone look like The Great Plains..

  9. Mark,

    It’s where KAL 007 went down!

  10. Dave says:

    This was interesting and informative until
    they mentioned an “unemployed black man
    living in Alabama…”
    It reminded me of a black American family I
    met last fall at a large yard sale
    sponsored by Columbus, Georgia auto dealers.
    The dad, mom and three kids were selling
    many of their household items. She told
    someone her husband had been layed off from
    Charbroil. I knew Charbroil shutdown their
    plant here in Columbus and moved all their
    manufacturing to China. I decided to ask
    him what had happened.
    He told me he had worked at Charbroil for
    30 years and was one of the last employees
    layed off in 2006. Since then he had not
    been able to find a good paying job or
    steady work with one employer. He had no
    medical insurance and he and his wife were
    really struggling to make it.
    In the following weeks I found other
    longtime plants in Columbus had also closed
    when their manufacturing was moved to
    China or other foreign countries.
    I went by Swift Denim, founded in 1882, that
    used to supply Levis with denim for jeans.
    The manager said all their equipment had
    been sold or shipped out of the country
    and the last 14 employees would be layed
    off Dec 14, 2007.
    I went looking for Masterbuilt outdoor
    grills. Located their deserted
    manufacturing plant in an older part of
    Columbus. Their proudly made in USA since
    1973 sign is still out front next to a relocation sign.
    Their manufacturing also moved to China.

  11. ryan says:

    The sad truth is that there are billions of people on the planet, and the markets are taking advantage of that fact. If you do not have anything to offer beyond what those in another country can offer at a lower wage, then you get shafted. Profit margins are always first.

    I think the black man in alabama part is funny, but, being from california, i’d probably think that “man from alabama” would be funny too; given the, possibly ignorant view, that the average intelligence in alabama is lower than that of california (i have no data to prove or disprove this).

    In any case, life is tragic.

  12. spencer says:

    I guess I do have a stick up my ass. Thats what happens when you live in the Bible Belt too long! Ha ha

  13. andre lee says:

    No…you all are missing it. It’s not that it’s a ‘black man from Alabama’…it’s ‘a black man from Alabama, sitting on a porch in a STRING VEST’!!! What the hell is a string vest??!!! Love, love, love British humor. ‘BMFASOPSV High Leveraged Fund’. Get me a couple of those please.

  14. Deano, Peoria, AZ says:

    Regardless of the PC (politically correct) police taking offense at the black man reference, it is great humor. Breaks it right down and easily understood. I like the first version with being able to see the comedians.

  15. would love to see the video spliced by real world events. For example when the one guy talks about “if we don’t get bailed out, we will do what we always do, threaten your pensions”

    cut to President Bush, threatening us we would lose our 401ks and pensions…

  16. FulanoMengano says:

    Leave it to the British. They are just telling you about real events with a slight change in their facial expressions and their voice pitch and they leave you laughing on the floor. I’m not an expert but I don’t find any of what they say here different from reality.