Sat May 16, 2020, 08:12 PM

"Every 1% Unemployment Goes Up, 40,000 Die"... 'The Big Short'

'The Big Short' (2015). In 2006-2007 a group of investors bet against the US mortgage market. In their research they discover how flawed and corrupt the market is. Christian Bale, Brad Pitt, Steve Carell.

https://www.imdb.com/title/tt1596363/

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4 replies	Author	Time	Post
"Every 1% Unemployment Goes Up, 40,000 Die"... 'The Big Short' (Original post)	appalachiablue	May 2020	OP
We are heading for the next, only worse. 2008 was about residential mortgage-backed securities.	alwaysinasnit	May 2020	#1
Yes & we've been in the dangerous 2nd Gilded Age for 30+ yrs	appalachiablue	May 2020	#2
if Glass-Steagall didn't happen in Obama's two terms it will never happen alone with two	bonniebgood	May 2020	#3
This is 100% false. People actually live longer during economic downturns	Quixote1818	May 2020	#4

Response to appalachiablue (Original post)

Sat May 16, 2020, 09:29 PM

alwaysinasnit (3,586 posts)

1. We are heading for the next, only worse. 2008 was about residential mortgage-backed securities.

The next one will likely be about commercial mortgage-backed securities.

https://www.democraticunderground.com/100213445672

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Response to alwaysinasnit (Reply #1)

Sat May 16, 2020, 10:06 PM

appalachiablue (30,184 posts)

2. Yes & we've been in the dangerous 2nd Gilded Age for 30+ yrs

Whereas the fraud during the last crisis was in residential mortgages, the complaint claims this time it’s happening in commercial properties like office buildings, apartment complexes and retail centers. The complaint focuses on the loans that are gathered into pools whose worth can exceed $1 billion and turned into bonds sold to investors, known as CMBS (for commercial mortgage-backed securities).

This has the potential to be so much worse than the 2008 financial debacle. We need to reinstate Glass-Steagall.

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Response to appalachiablue (Reply #2)

Sun May 17, 2020, 07:22 AM

bonniebgood (871 posts)

3. if Glass-Steagall didn't happen in Obama's two terms it will never happen alone with two

others I won't forgive Obama for.
Overturning Glass-Steagall,
United States Postal Service 75year prepay health care law, and
Pardoning Don Siegelman.

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Response to appalachiablue (Original post)

Sun May 17, 2020, 11:34 AM

Quixote1818 (25,671 posts)

4. This is 100% false. People actually live longer during economic downturns

Makes for a great line though.

https://www.history.com/news/great-depression-economy-life-expectancy

https://www.smithsonianmag.com/science-nature/great-depression-had-little-effect-on-death-rates-46713514/

https://fortune.com/2019/01/25/economic-downturn-mortality-rates/

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