A must watch, the big short
In 2016 I got a real estate license and started to dab my toes into that world for a change. It was something I had considered, but for one reason or another always left for later. One of the things I remember the most is my teacher's recommendation, a movie called The Big short.
Maybe you've seen it, maybe it does not sound too exciting and hence you've kept it in the back of your mind somewhere, catalogued into the "maybe one day" collection. But, I'm telling you it's quite literally a must, specially for those of us who found cryptocurrency due to the flaws of our current banking systems.
We all know about the 2008 crisis, meaning, we know it happened, we know a lot of people lost their homes and we also know that we've not learnt our lesson. Well, this movie puts a spotlight on how corrupt the financial system truly is, and if you are anything like me, you won't think of money and debt in the same way ever again after watching it.
Some say we are headed into the next big recession and that the signs are already there, I happen to agree.
Who knows, maybe the real estate bust cycle is already here and no one is truly ready... Again...
Posted using Partiko Android
Have seen it 4-5 times, fantastic. Also the doc "Inside Job" is the show that really got me asking what the fuck is going on with the rigged system.
Beyond rigged, right... Scary how corrupt it is
Posted using Partiko Android
Amazing suggestion. I watched it a while back. I won't make the claim that I remember everything or even understood 100% of what was going on, but they really make an effort to untangle the complexities of our broken system and show how fragile it really is.
It's important to note that Michael Burry, the person played by Christian Bale, is buying up cheap land that owns the rights to water. Like many others he believes that a water shortage will turn into a huge crisis in the future.
Thank you, I didn't spot that inference from the film, but now that you mention it, it makes sense. I would ask our government to buy back the water companies they've sold off, but as we couldn't trust them to run a bath on current performance, it's hard to see how they would manage.
The Big Short is probably my most replayed movie in last 10 years, somehow this Btc bubble we witnessed last year reminds me of 2008 housing bubble, just in terms of bubbles. Btc was very easy to short, Wall Street loves that, they are not here necessarily for the tech.
Very true... I've not messed with margin, but I've been tempted
Posted using Partiko Android
Thanks I will watch it with my wife
Posted using Partiko Android
Very true! I really like this movie. I should watch it again sometime haha
Posted using Partiko Android
Aún no he visto esa película en carteleras de aquí, posiblemente no ha llegado, o llegó y no se hizo famosa aquí. Sería interesante estar preparados para lo peor, pero con la esperanza en que lo mejor está por venir.
It is a great movie but have in mind that asset bubbles in their true definition rarely happen twice. While the asset class will suffer from economic downturns, Real Estate will not cause this recession; instead, it will be the debt bubble which most only think it the money owe but it is actually the fiat we have that is the bubble itself. More reason to look towards cryptocurrencies as an option.
Posted using Partiko iOS
Great film, a real eye opener of how rotten is our economic system..
Posted using Partiko Android
The Big Short is currently on bbc iplayer and I'd been toying with watching it for the past week. Having read this post, I sat down and watched it. From a dramatic point of view, the story was lucky to have some outlandish characters; from a personal point of view it was terrifying.
I understand the current conversation about keeping value in steem to raise the price, but isn't that then getting tied into the old fiat order and standards of corruption and deceit?
how the sequence of events unfolds is just as important as the events themselves. In other words, if crypto ever takes over, it would do so only after the current FIAT system has lived it's cycle. The implosion of FIAT would be at that point so massive, that the value of crypto would sky rocket, but this would not mean that if for example, you had a STEEM worth 200 USD, it would give you today's 200 USD purchasing power.
Sometimes when people talk about the crazy valuation for crypto, for bitcoin specifically so, they fail to mention that this would only be possible if the FIAT system is collapsed.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.