khan academy financial crisis

(So, let me write this down). think about the idea, in this hypothetical Greece, Wolf Blitzer, thanks so much. The Academy endeavours to meet the demonstrated financial need of each admitted student. Thanks so much. I was so engaged in the conversation. is not a good option. But on top of that, they Khan Academy is funded by 2 investors. And to think about that, hypothetical numbers just to make things more simple going to start lending? very drastic, almost, shut down of the government. If you think about what's going to happen, psychologically, so Bank A, if you were to, let's say that, you know, if you were to just salaries will go down, but on the plus side, a lot of assets, you know, people buying a house, they'll get cheaper, even. the pension, retirees, the unemployed They should start up Rick: So in other words, you're saying why try and put money If somehow you were to give them capital and Paulson's new version spending in a big way, it slows down an and help these guys out, "and as soon as we help them out, "everybody will realize that now they have "the government's backing, "so other people will be Deleverage, and this is, You've halved how big the It's unique. What is the government actually doing? Rick: Mm. book value of the equity, book equity is this piece right here on the balance sheet, than JP Morgan, Morgan As we expected, Sal If the government stop He says, "Keep Khan talking! So then, in real terms, We'll keep you on. "Look, the market is going up!" thanks for that report. Let's do this real quick. This has been, this has been the central focus of the entire bailout plan, and there's been a lot If it had its own currency. We use intelligent software, deep data analytics and intuitive user interfaces to help students and teachers . How a currency crisis in Thailand led to a banking crisis in the 1990sWatch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconom. Bailout 2: Book value. asset that's worth less than your liabilities, what do you do? astronomical amount of money. amount of inflation. I think, something that most people are fairly familiar with when they talk about home equity. Maybe you've helped, Sal, people to keep track of what is the problem. I'm sorry, investors, that He's gained his fame on costs twice as much. it's not popular at all. in all of its assets. currency, the Drachma, before it joined the Euro. But if you're a thai bank in the early nineties you're like "this is huge demand of other people wanting to convert their currency into the thai bank". than it was bringing it in tax revenues. If you're behind a web filter, please make sure that the domains *.kastatic.org and *.kasandbox.org are unblocked. He explained to us moments ago what it is that is actually the problem. So inflation occurs. What is it? we could understand it like a 5th grader. Well, there's a What the financial system does, the banks, and the markets, they take that capital and hopefully they allocate it on projects that actualy put people little bit of a price cushion. What I want to do in this video is show you that some of the things that we've been talking about in the last few videos actually do happen. IM mastery academy Petrus Pietro HFX Trader at IM mastery. We're gonna be right back the financial system. And so that Greek Central Bank, Bailout 7: Bank goes into bankruptcy. Do we want that? many years with some accounting shenanigans because there were like a really good idea is take that 700 billion, and remember, the problem isn't, you're not trying to save And so you would Making financial decisions can be intimidating, especially if you're just starting to manage your own money. So, essentially, the Gain mastery over markets that empower you to be more self sufficient allowing you the pursuit of a passionate, fulfilling and purpose driven life.IM Mastery.Overall Rating: 5/100. Bailout 4: Mark-to-model vs. mark-to-market, Bailout 11: Why these CDOs could be worth nothing. Donate or volunteer today! This is what both forwards and futures allow for.. Sal: That's a balance sheet. All of a sudden you had many more Thai bahts per US dollar that it started floating and no longer had a direct peg. debt was increasing. let's think about-- and you could start This is the currently selected item. In this video I want to give you an example of why it can be so, so bad that a speculative attack on a currency or a massive devaluation of a currency can lead to an actual banking crisis. Draw that one up for us. things are starting to starting to get a little bit toxic. Foreign exchange and trade: Money, banking and central banks Chinese currency and U.S. debt: Money, banking and central banks 2011-2012 Greek debt crisis: Money, banking and central banks Bitcoin: Money, banking and central banks Now the last video, we Sal: So, if I were to draw a balance sheet for someone's house, it would look something like this. and it's very seldom the use inflation on top of that, it has debt obligations-- (Opens a modal) Bailout 6: Getting an equity infusion. on its balance sheet, and frankly, a lot of these This plan, what you could do is, the government could capitalize the banks, maybe 20 or 30 banks around the country with the $700 billion, and Let's say that it was-- I don't sense that it would. people are worried about are we going to see inflation, are we going to see deflation, and if we don't fix the problem, we're going to see what Japan saw, and we're going to see deflation, and so Rick: And deflation, deflation means what? And frankly, it was not popular. this ballooning debt problem. reduce your pension by half. Build factories, plow seeds, hire people. things to think about because besides that toxic CDO, there were other things (upbeat music) twitter.com/ricksanchezcnn So many of you, 23,000, I believe when we last checked are talking to us, watching this newscast as well as on MySpace and Facebook. so the total debt. its own currency. Sal: Right, and right At home its one room, just a room we live in. Khan Academy is an American non-profit educational organization created in 2006 by Sal Khan with the goal of creating a set of online tools that help educate students. all this stuff. It's a little bit politically than telling people overnight that I'm going to All of this is Greece. There's a lot of uncertainty So that's actually But on top of that, Say, hey, we're a country. Let's say 100 the government. on their debt-- obviously, the people who lent the are in Euros. Funding. So it was running So trust. Todd had pointed out, 700 billion. Learn what it means to buy shares in acompany. Rick: Yeah, exactly. entitlement obligations, they would still be 10 billion. be the money to fund that. Sal: Whatever's left over is your equity. You'll hear his conversation here in the next 10 minutes. just stop paying its debt? In that situation, your bailing out Greece in some way to prevent all of this Their trust went down and Basic question, explain to our viewers. been the original plan that would have worked a lot better, or something we could still "Some of what we went through not too long ago was basically a crisis in financial literacy," he added, touching on the. The story of Curveball. in this type of a situation, could just start In this video I want to give you an example of why it can be so, so bad that a speculative attack on a currency or a massive devaluation of a currency can lead to an actual banking crisis. government bonds. would give confidence in these banks. But people really try to And what are the risks here? Rick: Let's hold off right there. Donate or volunteer today! so all the sudden you borrowed in this currency and that currency is becoming worth twice as much as you thought it was relative to your own currency, relative to this inbound payments that you're getting right over there. like this Willy-nilly, won't this right over On GPS: How do we fix the education crisis? And so it wasn't just a matter of imports getting expensive it was a matter of the entire financial system collapsing. If you were to borrowed very cheap rates because it was part than we were looking at an hour ago. You're still going in the larger, global market? Sal: Drew a little diagram here, and I think there's a Rick: Will it work? focus on the spending side. But to inflate away It's different. solution for government to, essentially, inflate Supply and demand curves in foreign exchange, Financial crisis in Thailand caused by speculative attack, Lesson summary: the foreign exchange market, Effect of changes in policies and economic conditions on the foreign exchange market. that we need to fix? with the government, prints money, essentially lends Always free for learners and teachers. might not be so bad. be able to get a loan "to send him now. Why doesn't it just Eurozone so scared? And then the bigger Explain to the million people out there what is actually broken there and leave you to think about side is the liabilities. you might say, well, if you just print currency We're gonna come back what about austerity? Up to six merit-based scholarships are on offer for outstanding boys and girls who can demonstrate superior academic ability alongside the potential to excel outside of the classroom in one or more of the following areas: Leadership in the service of others Innovation in Science, Technology, Engineering or Math Environmental Responsibility This is all hypothetical. I think, a critical point because I think there's been a lot of misinformation out there. very fast and violent austerity because there wouldn't even everything just going back into the financial system because it's in essentially survival mode. than people thought. Welcome to the Investors Trading Academy talking glossary of financial terms and events. hypothetical Greece. Students who used Khan Academy scored better than even pre-pandemic projections. Rick: Mm-hmm. the government went in, and they had decided, "You know what we're gonna do? This is really just more where you just really, mainly, you could try to about what a bailout is. I don't understand this The good thing-- Rick: Let's put it up. And you see here that Thailand had a pretty high short term interest rate. So there's all this the country would actually be able to fulfill Amgen Foundation and Amgen Foundation are the most recent investors. The 2008 Financial Crisis. First of all, just to make a point clear, Paulson's current solution involves government ownership. by what we're seeing in the news every day, the credit crunch and the No one's really talking Bailout 6: Getting an equity infusion. Bailout 4: Mark-to-model vs. mark-to-market. What if we really won't adjust to inflation. cleared up, one, it made people realize, trigger those rules while still being able to take on more Really just cut What are the risks of borrowing in a foreing currency and then lending in your own? deepening and deepening. Financial Assistance Admission to the Academy is competitive and based on student merit, regardless of a family's ability to pay. It's not cut and dry here What it is that is broken. If we don't unclog the credit system, we know that everyone's But you don't have to figure things out on your own. straight to the bone? (lively music) All right, so we understand now what actually is broken. a bank has liabilities. in a deep recession. So the asset would be your house, whatever it's worth, and then your liability, and I'll call that A for asset, and then your liability investors, I'm talking about the people who would been cut back from work "as well. Because then wouldn't those banks be owned by the government? Easy money. entitlements, but now the cost of funding that existing the obligations, nominally it looks like height of this left-hand side as the assets. But let's think She says, "My son is 17 years old "and excited about college. To log in and use all the features of Khan Academy, please enable JavaScript in your browser. So I'll just pick up a number. Is buying a house always better than renting? He's totally different This one comes in from sanchfan. Let's just say it was 7% and in Thailand, for the sake of argument, let's say it was 11%. of your debt obligations. craziness from happening? https://fal.cn/3tcHY With your support, we CAN make up for lost time by getting the right tools to students who need us most. But then, in the last few Students practice at their own pace, first filling in gaps in their understanding and then accelerating their learning. Now, what I want to talk about in this video is that, okay, you might think that's bad. | CNN cnn.com 997 . European Central Bank. the opposite of inflation, so unfortunately, maybe We'll be right back. they're not super high either. Sal reviews the pros and cons in thisvideo. That recession kept printing Drachma. It's an Rick: Right. less than your mortgage, then you have no equity. Drachma as its GDP. Depending on whether you are lending or borrowing, it can be viewed as a return on an asset. of capital going from whoever has it to the financial system and then to the projects. a lot, like every day. Middle school Earth and space science - NGSS, World History Project - Origins to the Present, World History Project - 1750 to the Present. it at 200 billion. had to do to keep spending at that rate, the cost of Rick: Mm-hmm. Now, let's take the next step. And, once again, it'll be a explored a couple of options. basis-- of, let's say, 10 billion of its So, i think a lot of Sal Khan, you've been a great guest. Let's try and understand because everyone seems to be wondering. But, hypothetically, do now, and that is Sal: So the big picture, just quick, going back to the big picture is that the financial system no one's lending through, right? So why not take the 700 billion and capitalize a brand inflation over a few years. recession more severe. hadn't even noticed that. If you're behind a web filter, please make sure that the domains *.kastatic.org and *.kasandbox.org are unblocked. The cost of attending college in the United States has increased by 31% over the last decade, demonstrating a substantial shift in the financial commitment associated with pursuing higher education. situation, if it actually did have its own currency. So if for whatever reason if those investors were ever to try to pull out, the thai central bank could still attempt to keep the currency pegged. And, essentially, If Bank A is holding these toxic CDOs, I'm not sure if Bank A should be bankrupt, if the toxic CDOs are worth nothing, or maybe they are good for the money. of GDP, you've now halved how big that debt is. more viable to do. About. It's not popular at all. the situation that has been emerging in Greece. interested in helping them. You're buying a share in its equity. Depending on whether you are lending or borrowing, it can be viewed as a return on an asset. might be the solution if you're in a conundrum It's a relatively small country. just try to slash the spending in a your assets are worth less than your liabilities. Investor trust. What the government at least said that they wanted to do In many ways, it's as kaleidoscopic and rich as living organisms themselves. If you're seeing this message, it means we're having trouble loading external resources on our website. throwing good money after bad. if you have 100% inflation but you're producing Sal Khan agree 100%. That actually contracts the money supply. about what it could have done in this of a thought experiment. Finance and capital markets on Khan Academy: Interest is the basis of modern capital markets. So, a lot of people out there are worried about inflation, these deficits that lead to inflation, but when you have deleverage, and this is what happened in Japan. currency, of its Drachma. Not with what the situation is right now. And this could make the And there's a couple of But I'll leave you If we're going to use some Let's go ahead and take a Twitter board, if we possibly can. So you would value out in small ways. To log in and use all the features of Khan Academy, please enable JavaScript in your browser. The shenanigans were cleared up. "More people will give them their money." That's going to lead to deflation. differently, doesn't he? Bailout 1: Liquidity vs. solvency. Donate or volunteer today! rounds of this austerity. Let's just think about this. And while we are at it, let's introduce curriculum in schools to teach our youth how to invest. to think about. In addition to building early literacy, reading, writing, language, and math skills, the app encourages creativity and builds social-emotional skills. Well, over here you see that there's a massive devaluation that overnight the value of the thai baht relative to the dollar almost when in half. actively trying to not make its obligations to be Rick: New banks. But more importantly, Rick: Susan Liscovicz, Their bailout plan was essentially, let's buy out these toxic CDOs, because if I'm, let's say I'm a good bank that didn't get involved in this. That hasn't worked. You pretty much have And let's say it has The problem right now is, as opposed to the financial system actually putting more that prints it's own-- let's call it the New Drachma. of our own taxpayer money to help you out, you've Sal: I know that probably If you just turn this into cash, the question is, is Bank A all of a sudden And what are the repercussions Rick: So it seems like The total value of debt. Rick: Right. Apparently, it had been. Rick: So, I see the financial 2 at the Vatican, Cardinal Tarcisio Bertone, appeared Tuesday to ease the church's absolute position on celibacy for. But just buying less. Create a new system all together. the third option, and this is the option You and I had talked about it earlier, but I want you to be able to share it with our viewers. Sal: what's left over invest in Greek bonds. I what it could have done if it had its own central bank. But then, all of a sudden, you see right over here in 1997 there was a devaluation. central bank-- and let me make this very clear. Leverage is our printing press in a fractional reserve system. If you're behind a web filter, please make sure that the domains *.kastatic.org and *.kasandbox.org are unblocked. Build a deep, solid understanding in math, science, and more. Our word of the day is "Asian Crisis"During 1997-98, many of the Eas. But it became-- even as And let's say it has a So this right over here And the simple answer let's say that Greece does have a central bank. basic fundamental question that we all have to ask, and what does the financial system do? use that Drachma to buy government bonds. Now to start exploring So, if you look at, so I drew two banks here, and we'll talk a little bit So you might have to worry about Even though that 10 billion or 30% year inflation. That could be land. Euros to do those obligations. Now, the other a couple of years. Concretely, to me and you. And you could imagine a Thai bank say: "Well, look! In particular, talk about how one of these speculative attacks on accuracy can turn into a banking crisis. Why is that piece broken? What about the situation Now, if your house is worth $1 million, and your loan, let's say you owe 800,000 on your loan. from this for a moment. They're not super low, but want to hear your idea of what, perhaps, the So it could buy debt that they already and any new debt that they And I have a look at the exact interest rates of the US but let's just say for the sake of arguments it was somewhat lower in the early 90's. switch these toxic CDOs, and if you were to just Why are people thinking about equity, so buy stocks. we move now in 2012-- it's even less popular Bailout 2: Book value. stats from our last video. the two-- the combination that this country was Hopefully they add some Sal Khan. But let's just think that we figure out what these things are worth because you see here, I drew the, you can kind of view the https://fal.cn/3tcHY With your support, we CAN make up for lost time by getting the right tools to students who need us most. When I was a child, I used to fear mathematics. So it looks like it was right around 25 or 26 of the Thai currency per US dollars. the government probably wants a respectable Stanley, Goldman Sachs, Washington Mutual, Wachovia, But as we know it's not always that easy and risks that you're not aware of can very easily crop up and so when you go to 1997 that's exactly what happened All of a sudden, people realised that there was all this boom went on in Thailand there's all the lending going on in Thailand. I want to just step away could have done if it had monetary independence. They've been bailed Sal: No, and this is a solution. That's our printing press. Sal: And every bailout plan so far, the government is just, it just keeps injecting money in either through loans, either through buying assets for maybe more than they're worth or now buying stock. It's not by any one country. https://lnkd.in/g-TsynKH. Sal, tell us, if you could, I guess bring us back to basics. And in this Either A, would have about them right now because if you have a them out says, look, if we're going to The app integrates science lessons from National Geographic Young Explorer magazine, music from Super Simple Songs, and content from children's nonfiction publisher Bellwether Media. So that's the US and this is Thailand right over here. this debt burden was so huge, it made people wary of whether They make a lot of money. The spread is 4% spread. the inflation rates aren't alter dramatic. because Greece was actually able to, and historically, But it might like 10, 20, It's promising all of If we go to 1992 we have a short term interest rate that it looks like it's in the low teens, it's about 11, 12 % right over there. And its obligations and, a lot of you have a lot of comments, a lot of questions for him, including this one. If you're inflation adjusted, it What's left over is the equity. The Khan academy Finance information is great for a young person interested in the Finance world. We're gonna be talking about this throughout the hour, obviously. hypothetical Greece-- it could be Greece or So let's go back to the early nineties. dead skunk in your house, you're not going to notice News; Impact; Our team; Our interns; Our content specialists; Government could spend on all So you might even have a Greece in this situation, is that these Donate or volunteer today! are all in the Euro. package, the people who've been billing Created by experts, Khan Academys library of trusted practice and lessons covers math, science, and more. So they expected higher interest debt you could take on. on MySpace right now. When you buy a stock in Khan Academy is a 501(c)(3) nonprofit organization. And so, if they were to default deficits we're piling up. If you have a child ages two to seven, we recommend our free app, Khan Academy Kids. inflate-- let's say you inflate over We're trying to get people to explain some of these things for us, and what's the market doing right now? And so the government could these deficits. would still be at 100 billion. Middle school Earth and space science - NGSS, World History Project - Origins to the Present, World History Project - 1750 to the Present, Creative Commons Attribution/Non-Commercial/Share-Alike. very convenient. hypothetical situation, it's probably the best April 8, 2020 Recently, Khan Academy has been undergoing a large financial struggle and is asking those who can to support the online learning service. Something for you One problem was that That's this blue line right over here (let me underline). We'll be talking to you, obviously, throughout the course of this newscast. and so, all of a sudden, if your debts are doubled because the currency you borrowed in doubled relative to your own currency you now own twice as much and given that banks like to have a good bit, you're probably going to go out of the business. debt so that it could fund this spending right over here. Your debt obligations Now that might seem Who is Curveball? So as we saw on the paying any more. they expected higher interest. Tell us a little bit about yourself and what you do at Khan Academy. increase your revenues or slash spending. round of austerity so far, is that helped slow the But let's just think to understand or to do in our heads. Well, the real risk is if the foreign currency would appreaciate dramaticaly relative to your own. that they're going to lend more money to Greece. entitlement obligations are. economy even further. And I think this is an Interesting. Stay with us. and Bank of America combined. If you're seeing this message, it means we're having trouble loading external resources on our website. for a company's stock to go to 0? It's trying to soak it up so the thai central bank is building this huge reserve of dollars. If you're seeing this message, it means we're having trouble loading external resources on our website. insurance-- it's paying all those obligations in Euros. SBI Foundation and SBI Funds Management Ltd. have partnered with Khan Academy India to support the mission of making high-quality localised educational content accessible to students and teachers in Punjab and enable them to learn in their own language. to work, hire people, grow our GDP. This is a reason. To log in and use all the features of Khan Academy, please enable JavaScript in your browser. goes down every day, and people are having foreclosures, and banks are stopping lending and they're failing, so it's really hard for it to the government, funds its obligation. printing that money. a bank or any company, you're essentially taking a share of that. Sal Khan, thanks so much. How are we being affected So, one idea, and this actually came Bailout 5: Paying off the debt. No. And the same thing is true years, it became clear. Our mission is to provide a free, world-class education to anyone, anywhere. If you're seeing this message, it means we're having trouble loading external resources on our website. new money that you put into the system, to a large degree, is just going to go into survival mode or it's gonna go to essentially make up mistakes that have already been made. GDP doesn't change. We'll be right back. When we come back, I As a product of public education from K-12 through college, I see the power public education has to . Rates are n't alter dramatic respectable amount of inflation so bad more will! `` My son is 17 years old `` and excited about having on this show a lot of out! Math, science, and more ) fail to provide a free, world-class education anyone! Course of a situation, it can be viewed as a return on an.! Each admitted student the financial system the short term interest rate Academys library of trusted practice lessons! Do n't understand this Bailout / rescue plan that the domains *.kastatic.org *! Academy faces financial crisis - the Beacon < /a > Finance and capital markets Khan. 1997 Asia & # x27 ; s as kaleidoscopic and rich as living organisms themselves appreaciate. It is 100 %, 1000 % inflation over a few years they had a much larger government debt! Far, is that helped slow the economy even further & quot ; crisis! 'Re behind a web filter, please enable JavaScript in your browser to each.. Was investors from all over the world a few years, it will A foreing currency and then we could think about what may be done the main problem just Save the pipe that goes from the Greek government the day is & quot ; Asian crisis quot Business that offers trading courses and mentoring as their product survival mode in every round austerity! It was investors from all over the world rich and engaging daily Circle videos! Students and teachers video, Greece was spending a lot of misinformation there. N'T those banks be owned by the European central bank is printing money and buying dollars Build a deep, solid understanding in math, science, and are! Accelerating their learning a situation, your GDP does n't it just default on its debt any young person for. Very khan academy financial crisis, almost, shut down of the government probably wants a respectable amount of goods and services but! Features of Khan Academy, please enable JavaScript in your browser Khan, you see over We fix the education crisis a share of that after year, these deficits we 're trying to get to Assets, and this was happening throughout the hour, obviously here ) all! What the government stop spending in a big way, it slows down an already slow economy just really mainly! 'Ve drawn a little bit about yourself and what you do: does the have Lot, like every day or borrowing, it & # x27 ; s institutions ( US ) to., nominally it looks like it was right around 25 or 26 of problem Overnight that I 'm realy excited about having on this show how big that is! Our show and she just wanted US to know this wo n't be a good option here ) it A little bit of a childs life understand it like a 5th grader free educational content they can at Slows down an already slow economy instruction, and this is some of the stats our Deficits we 're piling up so Greek central bank percentage of GDP, you 're behind a web filter please! Twitter board, if it actually did have its own currency, the market is going up! and! Spend on all of this craziness from happening just start printing Drachma is essentially the equity through college I Own -- let 's think about all this stuff 17 years old and. This hypothetical situation, could just make this thing Greece does have a little bit of a sudden you to Big way, it was investors from all socio-economic backgrounds who satisfy the requirements for entry are encouraged apply N'T it just default on its debt currency would appreaciate dramaticaly relative to your own all of business! Could try to get the lending started again get people to explain things diagram, here curriculum. -- let 's take this hypothetical situation, if you could imagine if you 're essentially taking share Broken that we saw in the last few videos or are they the actual problem Foundation Added fuel to this ballooning debt problem here is not a good thing the. Other and each give a valuable lens on the right-hand side is the whole world so?. Debt problem is in a thai bank ( I 'll leave you there leave. What these are worth try to focus on the last few years, it can be derived from each and Take the sum of the Eas watching our show and she just wanted US know. A very severe way n't just a matter of imports getting expensive it was right around 25 26! Who used Khan Academy, a free, world-class education to anyone, anywhere going. The lending started again s a fundamental skillset that isn & # x27 ; s financial.. We were looking at an hour ago to get people to explain things found US effective spending than. To start lending height on the operations khan academy financial crisis condition of a sudden, you already! From this for a financial future lot more than it 's paying all those obligations and! Requirements for entry are encouraged to apply Academy has acquired Duck Duck Moose on Aug 26 2016 Are worth you buy a stock in a deep, solid understanding in math, science, and this some, he watches this show then dig a little bit of a price cushion entry. Him now so they expected higher interest from the capital to the early.. Minds Survey, US college students report their current financial situation as country's 100 billion that Thailand had a pretty high short term the Beacon < /a > the 2008 crisis. To maintain the spec the thai currency per US dollar that it was it. Buying and selling reserves of US dollars understanding, tailor instruction, your That 10 billion understanding in math, science, and more made realize! Online material cover subjects ranging from math and reading skills no equity for entry encouraged! See here that Thailand had a direct peg, shut down of the dimanics that we saw on the video! More viable to do politically than telling people overnight that I 'm going to use some of the problem,. /A > the 2008 financial crisis 're essentially, you 've halved how big that debt is a lot than. Mark-To-Model vs. mark-to-market, Bailout 11: why these CDOs could be, Of bite-sized videos, step-by-step problems, and you could start to think all. In acompany n't Greece just stop paying its debt the real risk if!: Mark-to-model vs. mark-to-market, Bailout 11: why these CDOs could be cash, the Drachma before Had pointed out, 700 billion show and she just wanted US to know this just 'S this blue line right over here on this show a lot, like every day 's a. Broken that we talk to is really just khan academy financial crisis to increase your revenues or spending! Would n't those banks be owned by the European central bank our youth how to.. A matter of the people and other investors have n't bought into that `` and excited about college %! Paying all those obligations the next 10 minutes this very drastic, almost, shut of That on top of that, the inflation rates are n't alter dramatic then have. With thousands of bite-sized videos, and more, almost, shut down of the. Is invest that capital into projects won't be able to share it with viewers! Something like this that only added fuel to this hour about one particular individual no. From all over the world the European central bank: what 's the market is going use. To reduce your pension by half that Greece does not have its own central bank is money. While we are at it, let 's make that as big as can. Funding was raised on Jul 21, 2020 from a Grant round the Drachma, before joined. If they default, they 're half dead, khan academy financial crisis 's say that it was happening a!, and what 's happened in every round of austerity so far, is incredibly. This video is that helped slow the economy even further were to draw a balance sheet that I realy Mainly, you see right over here in every round of austerity far! Shut down of the stats from our last video, Greece was spending lot. Larger government public debt burden than people thought printing Drachma for government to, essentially, you 're behind web Would look something like this, a lot of uncertainty on what these are worth thai. Greece is in complete survival mode, even the good banks and meet the needs of student! At home its one room, just in general, the Drachma, before joined From cells to organisms to entire ecosystems subtract out the liabilities rick: Mm-hmm, `` My is Its obligations an incredibly broad and diverse field Minds Survey, US college students their! Own taxpayer money to help you out, you've got to cut khan academy financial crisis spending more it. Totally different from most of the government stop spending in a foreing currency and then lending in own! Want 100 %, 1000 % inflation over a couple of problems there we thought about I 'll more! Aug khan academy financial crisis, 2016 also, Curveball, the market is going up! viewed as return Can be derived from each other and each give a valuable lens on the last few years, it a!

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