Thursday, 15 March 2012

The Financial Crisis Explained

For those of you who are confused about the financial system, how it works and why we're now in recession, this video provides a useful explanation:


This is very relevant to human geography and links in well with development and globalisation - for example the globalisation of the economy means that countries are now so interdependent that when things like this happen it has a knock on effect and everyone suffers (well, except the bankers it seems with their ridiculous bonuses). Also see this story and this article for an explanation of the banking system.

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