overdose

Topics: Subprime mortgage crisis, Stock market crash, Financial crisis of 2007–2010 Pages: 2 (746 words) Published: October 1, 2013
“Overdose: The Next Financial Crisis” is not just another documentary on the financial crisis of 2007. One might wish that it was, as the crisis being analyzed is far more dire than the one we are currently in. Not to mention, it is a crisis that is yet to happen, according to director Martin Borgs, and seemingly impossible to stop. No hope of reconciliation is offered in the movie, as the nations of the world and their foolish governments have already set the ball a ‘rolling down a slippery slope. The first thing that stands out about a documentary and its credibility, is the ability to be even handed. It is nauseating to see and hear opinion after opinion that blames this party or that party. To do so only shows bias and casts doubt on the validity of the expressed opinion. “Overdose” points the finger not just at one party ,or even one government for that matter, as it cites the faults of weak economic thinking on a global level.The focus of the documentary is on the lowering of interests rates to facilitate continued and expanded spending by consumers worldwide. The documentary points out that in the wake of the “.com bubble” the Federal Reserve lowered interest rates to close to one percent in order to stimulate consumer buying power, and the economy. And it worked for awhile. Consumers bought like crazy. From cars, to electronics, to clothes, and most importantly houses. The fact that this documentary places some blame on the individual consumer for the collective financial meltdown strengthens its appeal. As this aspect of the “blame game” is often neglected, as fingers so often point at George Bush or Barrack Obama and victimizes the middle class. The documentary also points out that the majority of middle class consumers and sub prime borrowers are not minorities in Los Angeles or New York, but rather Caucasians in middle America. “Overdose” points out that the main thing to worry about at this time is the spread of erroneously...
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