What is the difference between a credit crisis and a crisis of debt / or liquidity?
I think the term "credit crisis" refers to to the relative unavailability of new credit for individuals and businesses.
A "crisis of debt" refers to individuals and businesses carrying unsustainable debt loads (at some point they won’t be able to pay it back).
A "liquidity crisis" refers to the unavailability of cash for businesses (to pay debts among other things) and for banks (to lend money.
So a crisis of debt can lead to a "liquidity crisis" which in turn can lead to a "credit crisis".
France’s Lagarde Discusses Proposed Global Bank Tax: Video
April 23 (Bloomberg) — French Finance Minister Christine Lagarde talks with Bloomberg’s Susan Roberts about Greece’s fiscal crisis and the issue of a proposed global bank tax to help pay for future bailouts of the industry.
They talk at the meeting of Group of 20 finance ministers and central bankers in Washington. (Source: Bloomberg)
Duration : 0:2:50
How is the debt crisis and poverty linked?
The more money and better credit that a person has the better interest rates they get. Poor people get stuck with the very high interest rates and when something happens, like the car needs repairs, it goes on credit that they can’t afford in the first place. This spirals out of control and soon they default on loans and can’t pay off credit cards. The poor become even more poor. When so many default, the banks raise interest rates and make it more difficult for all to get loans. Less is spent in communities, people lose jobs and so on. This doen’t just happen to poverty level people-people are living far beond their means living on credit, tading in an average house for one much larger with a price tag that they will never be able to pay off.
Wilbur Ross Discusses Greek Financial Crisis, IMF Aid: Video
April 8 (Bloomberg) — Billionaire investor Wilbur Ross, chairman and chief executive officer of WL Ross & Co., talks with Bloomberg Television about the Greek financial crisis. (This report is an excerpt from the full interview. Source: Bloomberg)
Duration : 0:0:37
The Crisis of Credit Visualized – Part 1
The Short and Simple Story of the Credit Crisis.
By Jonathan Jarvis.
Crisisofcredit.com
The goal of giving form to a complex situation like the credit crisis is to quickly supply the essence of the situation to those unfamiliar and uninitiated. This project was completed as part of my thesis work in the Media Design Program, a graduate studio at the Art Center College of Design in Pasadena, California.
For more on my broader thesis work exploring the use of new media to make sense of a increasingly complex world, visit jonathanjarvis.com
Or email me at jonathan.jarvis@gmail.com
Support the project! Buy a T-Shirt!
cafepress.com/crisisofcredit
Duration : 0:7:32
Global Millionaires Club Rose 14%, Singapore at Top: Video
June 11 (Bloomberg) — Singapore and Malaysia led a recovery of global wealth to pre-crisis levels as the number of millionaires grew by about 14 percent last year, the Boston Consulting Group said. Bloomberg’s Cali Carlin reports. (Source: Bloomberg)
Duration : 0:1:20