Global Financial Crisis Notes (Coursera)

 Global Financial Crisis

- all wealth is embodied in hard money.

- some fraction of wealth is used in everyday transactions.

- unfortunately, not all people can convert hard wealth.

- ¨panic¨ happens when people somehow feel like converting wealth, but just don´t know how.

- ¨financial crisis¨ occurs when too much panic affects the functioning of the financial system.

- ex. of panic: someone trying to convert words like ¨tooloose¨, ¨bespoke¨ into money...

- the modern world was shaped by the global financial crisis....it was the most important economic event since the 1930s....

- all workers are being called to fight the fire of the global financial crisis...

- prior to all financial crises, there is a large increase in the price of at least one asset class - a ¨bubble¨ is formed when it later falls.

- in the GFC, the bubble was in HOUSING.

- HOUSING bubbles have been associated with every major financial crisis since WWII.

- if you´re sad, you should be an economist.

- if you need that masterś degree, just take it.

- may ¨money¨ talaga ang tao.

- some people have money in bonds and not cash. puro credit card na sila.

- bahay ngayon, taas-baba ang presyo.

- pray ng pray talaga ang buhay.

- open-source things aren´t exclusively owned by any private party...

- that includes open-source images and artworks... 

>:(