The following documentary, Overdose, offers a more coherent explanation of the housing boom and bust than any other documentary I’ve seen thus far. The mainstream broadcast media in the UK has barely touched on the themes in this documentary, and they ought to be ashamed for ignoring such ideas to the detriment of the British public. Until the very notion of central banking becomes of interest to the media, as a nation we will continue to be fighting the symptoms rather than the causes of the housing boom and bust.
Featuring interviews with economists who actually predicted the crisis, it shows how US politicians on both sides of the aisle contributed, and how the Federal Reserve policy of both Greenspan and Bernanke built up an artificial boom.
It’s well worth a watch – and has a serious warning back in 2010 of the sovereign debt crisis we are now experiencing today.