The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
This is a great animated explanation of the Crisis of Credit, which is largely the cause for our current recession. Many of you have undoubtedly seen this, but if you have not - this will be 9 minutes well spent.
In other news - here are two stories from the desk of The Economist:
- Good News - Health Care is getting cheaper, more innovative, and more available! Bad news - it's happening in India.
- Do you want to know the future? See what people are Googling today (this according to a recent academic study).
- USA economy is expected to grow -2.7% and +1.4% in 2009 and 2010 respectively, while China is expected to grow +6% and +7% for 2009 and 2010. (Of course, China's output is still about the same as Texas' and California's output put together.)
- Regarding the gold standard - I was not able to find any information that would verify that any major country is currently using the Gold Standard; they are all printing 'fiat' money backed by the good faith and credit of the issuing state.
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