ESPAÑISTAN, real estate bubble and Spanish crisis

ESPAÑISTAN, The housing bubble and the Spanish crisis in comic version, by Aleix Salo

Aleix Salo prepares the output of a comic strip set in the Spanish housing bubble and the subsequent crisis in Spain from 2008.

For its launch has created a very interesting video that illustrates the process experienced in . . . → Read More: ESPAÑISTAN, real estate bubble and Spanish crisis

The destruction of money and the crisis

The money can be created, as I indicated, and can be destroyed. I do not mean to burn banknotes. Merely to repay a loan is a destruction of the virtual money involving own debt. If I sign a promissory note and others used this promissory note as payment, the promissory note is money. If I cancel . . . → Read More: The destruction of money and the crisis

The subprime crisis explained in British humor

Highly recommended the following video of Youtube Me laughed a good time.

(In English and subtitled in Spanish)

I copy & paste a comment from Vanitatis, where I found the first reference, to the video.

. . . → Read More: The subprime crisis explained in British humor

Lehman Brothers bankruptcy, the second great bankruptcy of year 2008

In March was Bear Stearns. Now, in September of 2008, Lehman Brothers.

Then I wrote an article entitled “the bankruptcy of the year“, but the year was not yet over and is the turn to Lehman. In addition, Merrill Lynch has been purchased by Bank of America, It seems a covert rescue operation, . . . → Read More: Lehman Brothers bankruptcy, the second great bankruptcy of year 2008

Bear Stearns, the first great bankruptcy of the crisis

Bear Sterns went bankrupt and was bought by JP Morgan Chase to 2 $ each share.

If we take into account a year earlier was worth to 150 $ each share, It is clear that it has been purchased at a symbolic price. About 200 million of $ compared to a value exceeding 20000 million a year ago.

. . . → Read More: Bear Stearns, the first great bankruptcy of the crisis

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