this and "Big short". both this video and this movie make it sound like completly insanity, its fun. I'm studying bonds and governments and central banks in my econ and I genuinly believe that this mess can be sorted with rigorous reforms, but, I'd probably be "suicided" if I ever started pushing humanity to live differently. However, I have hope.
@@PedroRodrigues-je6xp I personally think even if they did reform such things the most powerful people in the world will find a new graft or work around reforms which is just a function of capitalism.
Brilliant! Not all Americans get British irony, and thus miss out on gems like The Black Adder as one example. But many of us do, and this piece is simply brilliant.
This clip was uploaded in UA-cam on the very first day I started working in my own business in real estate after quitting my previous job. Impeccable timing, I'd say!
After well more than a decade, this sketch remains the funniest, most exquisitely presented explanation of the flaky financial market. Exquisite humor.
This is superb british humour, it makes fun of just everyone in an intelligent and fresh way, informing anyone even with no technical background about the bad things that happened Ugo (I am Italian)
As someone just said elsewhere, he was (together with John Bird) a "pillar of the anti-establishment". There have been too many who have gone this year who were such nice people. And he was so funny. RIP indeed.
How is it that I now understand more about the financial crisis from watching this than I ever have done watching an interview with an investment banker?
Wonderfully written, wonderfully played. I miss both these gents, not least because of their dry wit and acute observation. This sketch bears great resemblance to the performance and writing of another John - John Clarke (also no longer with us and greatly missed). If you haven't heard of John Clarke and Brian Dawe, please do yourself a favour and go and watch their sketches. It's an Australian thing so some of the people referenced you may not know, but their channel (ClarkeAndDawe) has a decades-long back-catalogue.
Fabulous Briliant Utube!! You can actually learn something if you have not been in the business. This is the BEST explanation yet..makes it real. Just my opinion but I do believe government is NOT the reason the problem is NO regulation. Human being are gluttons...in EVERYTHING and the market is NO difference. Children need a parent it's as simple as that.
This is RAZOR SHARP stuff. Gotta love these guys. They should have their own ten minute slot after the news each night, just to put things into perspective.
"It's not us that will suffer... it's your pension fund". These guys accurately described the future before it became real :-( P.D: Greetings from Spain.
I too have been wondering! This was posted in Feb 2008 and hence must have been recorded before that. Most of the "detailed postmortem analysis" of the financial crisis was done in September 2008 when Lehman disappeared and others were pushed on the brink
I have always Loved Brit Comedy. The Brits bring comedy so close to true life that it stops being a "joke" and becomes something that one must laugh at the World instead of crying. Truth - like Wikileaks - is Truth. And if we can't laugh or even accept it - then we have to cry. And crying does nothing for the facial muscles. Laughing exercises more muscles in a moment that an exercise regiment does in hours. Laugh and the world laughs with you. Cry - and you cry alone. Richard Lewis USA
@Dazza3500 This recording was made pre-financial crisis (2007), not in 2011. It was amazingly prophetic. It actually saw the devastation that was about to happen months before the public realised it. At the time, people laughed at it because they hadn't seen the writing on the wall (unlike Bird & Fortune). People had no idea what was round the corner and were not yet affected by unemployment and huge the loss of personal investments.
Would have loved to have had ean episode where Bird and Fortune discuss finance and geopolitics with Clark and Dawe. Throw in Sir Humphrey Appleby and you've got God's advisory panel. 😊
@LeemanBrothaz The 'free' market does not tend towards equilibrium. It tends towards monopoly and boom and bust. Thats' before we even mention exploitation, huge income differentials (one of the most significant factors in causing social unrest), concentration of capital with a tiny elite etc. etc. Trickle down economics isn't even accepted theoretically nowadays and in practice it's never worked.
RIP John Fortune only found out when I turned over to Sky news for new year celebrations. Very sad he was the glue along with John Bird that held show together in last years. George Parr rip.
Well done!! Unbelievable that they made this months ago before the US economy is close to collapse from senseless wars, and of course the unemployed black man's morgages... British humor - best in the world!
@JP2times2007 I don't agree, we broke the records for all time home ownership in the 2000's so we had more than ever before. Pre 1970, home loans were based on ability to repay and creditworthiness, not misguided sympathy for people who didn't qualify. I don't know if there's any good way to set up a charity to help people buy homes, too lengthy time to repay, and too big of a loan
@IamNotaThreat Yes, it has been one of the greatest transfers of wealth. However, you can argue that Main Street was offered more capital availability than ever and many homeowners chose to live luxurious today instead of tomorrow. For those who flipped properties and invested, they thought they can make quick money. Real Estate markets have always been cyclical...its almost as if these homeowners have not ever seen 1 real estate market variation before...
@nkroti10 The Racial Component of Unemployment in Alabama: We are particularly concerned by some trends highlighted by EPI’s statistics - growing unemployment rates with a disproportionate effect on Alabama’s African American population. During the current recession, the unemployment rate for Black Alabamians has increased from 5.3 percent to 15.1 percent, which is 9.3 percentage points higher than the rate for White Alabamians. (via epi.org)
nomis, I'm glad to blame Wall Streeters for being greedy to an extent, I believe even without govt pressure to give huge home loans to people who couldn't pay them back, we would have seen a economic downturn in the 7-8% unemployment range. The reason why it was 10% instead was because of The Community Reinvestment Act used as blackmail under threat of lawsuits to pressure banks to give out loans to people far below the lowest standard banks ever had. At some point risk outweighs reward.
Now, now! Their they're! They're is no need to pcik out the typo's wen there mesaj don't git thru 2 yu. But thanks for taking the time out and changing the thread around to go off an a tangent. Seriously though, is that your best input? Your caps-lock is...locked. I would have put a comma(,) right after PLEASE and properly.
About crisis: Humour, jokes and second degree are good for the mental health of looser "rich men". However, it's good also for the poor men! It's good for every body. GOOD ARTISTS! Thank you from France! (Excuse me for my dubious english... If you don't hunderstand, it's realy not important!...)
flashpoint in subrime video is a photo of a man looking at a computer in a small room..may have been the persom who uploaded the video,, the man is about 60, glasses, two desk top lamps, no info..
That is not as far fetched as it sounds , listening to NPR I learned of an "in foreclosure lady " her income was $1400pm,her mortgage $1700, the salesman , pointed out she could rent out 3 rooms and bring in enough rent to cover everything -4 Mexicans in the basement ,3 more upstairs , construction jobs vanish, and so do Mexicans , she can no longer make payments ,then loses her house .
Not just the mindset. 12 years on and this is still the most complete/concise and accessible explanation of the financial crisis. Thank you sirs.
this and "Big short".
both this video and this movie make it sound like completly insanity, its fun.
I'm studying bonds and governments and central banks in my econ and I genuinly believe that this mess can be sorted with rigorous reforms, but, I'd probably be "suicided" if I ever started pushing humanity to live differently.
However, I have hope.
@@PedroRodrigues-je6xp I personally think even if they did reform such things the most powerful people in the world will find a new graft or work around reforms which is just a function of capitalism.
Two great brains in full flow. None better than the two Johns.
Thank you Mr Fortune. R I P
Fabulous, I watch this every few months to stay grounded in financial matters.
I'm not even a native English speaker and I still think this is priceless, extremely funny and a very essential form of comedy.
They were years ahead of their time. Just simply apt and brilliant. In simple words, the best piss takers ever but sophisticated.
RIP John Bird. We needed you more than ever in these insane times.
"They have very good names" - this is AWESOME. Thanks for posting.
Commemorating the financial crisis 10 years ago, there is no better video...especially since it was published 6 months before Lehman went down
Brilliant! Not all Americans get British irony, and thus miss out on gems like The Black Adder as one example. But many of us do, and this piece is simply brilliant.
RIP John Fortune. Genuine, urbane wit - not much of that around nowadays.
This clip was uploaded in UA-cam on the very first day I started working in my own business in real estate after quitting my previous job. Impeccable timing, I'd say!
After well more than a decade, this sketch remains the funniest, most exquisitely presented explanation of the flaky financial market. Exquisite humor.
RIP John Bird and John Fortune. We miss them.
This is superb british humour, it makes fun of just everyone in an intelligent and fresh way, informing anyone even with no technical background about the bad things that happened
Ugo (I am Italian)
I worked in this industry. It is 100% accurate and hysterical.
As someone just said elsewhere, he was (together with John Bird) a "pillar of the anti-establishment". There have been too many who have gone this year who were such nice people. And he was so funny. RIP indeed.
Goodbye and Farewell Mr Bird. Your Brilliance is missed.
RIP
it always took a while for the humour to show, but when it finally appeared, it was always brilliant
and these two always cracked me up
And this is not world as we know it, this is comedy.
Absolutely brilliant.
How is it that I now understand more about the financial crisis from watching this than I ever have done watching an interview with an investment banker?
RIP , Such a wonderful duo.
Interesting that no one ever refutes these parodies, because they're absolutely spot on.
Rip John Fortune, never forgotten
"Economists were invented to make astrologers look good"
If economists didn't exist we'd still be living in grass skirts and humpies !
Always easy to rubbish them when trade wars or communism breaks out .
Wonderfully written, wonderfully played. I miss both these gents, not least because of their dry wit and acute observation. This sketch bears great resemblance to the performance and writing of another John - John Clarke (also no longer with us and greatly missed). If you haven't heard of John Clarke and Brian Dawe, please do yourself a favour and go and watch their sketches. It's an Australian thing so some of the people referenced you may not know, but their channel (ClarkeAndDawe) has a decades-long back-catalogue.
These guys are amazing!!! Thank you.
This not humour...or sarcasm, indeed! This is pure genius!
Fabulous Briliant Utube!! You can actually learn something if you have not been in the business. This is the BEST explanation yet..makes it real. Just my opinion but I do believe government is NOT the reason the problem is NO regulation. Human being are gluttons...in EVERYTHING and the market is NO difference. Children need a parent it's as simple as that.
When wit and satire were seen on British TV before the politically correct movement! Simply brilliant.
Only took 10 years or so for this to be highly relevant once again ...
This is a superb explanation ... explained tongue in cheek, but sadly accurately.
This is RAZOR SHARP stuff. Gotta love these guys.
They should have their own ten minute slot after the news each night, just to put things into perspective.
The sketch was part of a documentary about John Bird and John Fortune (South Bank Show) which filmed the development and writing of the sketch as well
been looking for this for ages
i watched this the first time around 2006/7 , and yep i seen it coming too... nice post :)
"It's not us that will suffer... it's your pension fund". These guys accurately described the future before it became real :-( P.D: Greetings from Spain.
I too have been wondering! This was posted in Feb 2008 and hence must have been recorded before that. Most of the "detailed postmortem analysis" of the financial crisis was done in September 2008 when Lehman disappeared and others were pushed on the brink
Rest in peace John Fortune. We love you, and we owe you. Thank you.
I have always Loved Brit Comedy. The Brits bring comedy so close to true life that it stops being a "joke" and becomes something that one must laugh at the World instead of crying. Truth - like Wikileaks - is Truth. And if we can't laugh or even accept it - then we have to cry. And crying does nothing for the facial muscles. Laughing exercises more muscles in a moment that an exercise regiment does in hours. Laugh and the world laughs with you. Cry - and you cry alone.
Richard Lewis USA
@Dazza3500 This recording was made pre-financial crisis (2007), not in 2011. It was amazingly prophetic. It actually saw the devastation that was about to happen months before the public realised it. At the time, people laughed at it because they hadn't seen the writing on the wall (unlike Bird & Fortune). People had no idea what was round the corner and were not yet affected by unemployment and huge the loss of personal investments.
Would have loved to have had ean episode where Bird and Fortune discuss finance and geopolitics with Clark and Dawe. Throw in Sir Humphrey Appleby and you've got God's advisory panel. 😊
You were a wonderfully funny man John. You'll be greatly missed.
Genius at Work!
RIP Mr Fortune, you made me laugh so much, thank you.
RIP John Bird 28 Dec 22
@LeemanBrothaz The 'free' market does not tend towards equilibrium. It tends towards monopoly and boom and bust. Thats' before we even mention exploitation, huge income differentials (one of the most significant factors in causing social unrest), concentration of capital with a tiny elite etc. etc. Trickle down economics isn't even accepted theoretically nowadays and in practice it's never worked.
RIP both ❤
scary.. they made this half a year ago... spot on
R.I.P John Bird a truly brilliant satirist, and a decent actor to boot.
All quotes and terms and breaking voices taken from real life.
Looks like it's coming around... again!
Excellent video.
Splendid...funny, true and irony-drenched.
Brilliantly said, thats exactly how it happened.
Sheer genius. And not a single person went to jail for this. Hilarious!!
RIP John Fortune only found out when I turned over to Sky news for new year celebrations. Very sad he was the glue along with John Bird that held show together in last years. George Parr rip.
Wasn't there a far older one fro. The 1960s or earlier that mentioned Japan?
At 3:52 and 4:10 You can hear investment banker in the crowd
Great stuff. Can anybody confirm that this was initially broadcast in 2007? If yes, when exactly.? Thanks.
Well done!! Unbelievable that they made this months ago before the US economy is close to collapse from senseless wars, and of course the unemployed black man's morgages...
British humor - best in the world!
it was broadcast on ch4 late summer 2007
Watching this on this black monday (evergrande crisis) and it is more true than ever
@JP2times2007 I don't agree, we broke the records for all time home ownership in the 2000's so we had more than ever before. Pre 1970, home loans were based on ability to repay and creditworthiness, not misguided sympathy for people who didn't qualify.
I don't know if there's any good way to set up a charity to help people buy homes, too lengthy time to repay, and too big of a loan
At 7:19, what's the purpose of the single frame of John Bird(?) sitting at his typewriter?
A great satirist.
RIP John Fortune
Hilarious, clever, rapier-sharp, acerbic, and brilliant.
Simply brilliant.
I get such a kick out of the fact that Americans in particulier like this. Satire in the US is so diluted.
Did you watch the interview with Tony Blair and Barack Obama, on the Jon Stewart show. Even Chris Hedges agrees with me.
@IamNotaThreat Yes, it has been one of the greatest transfers of wealth. However, you can argue that Main Street was offered more capital availability than ever and many homeowners chose to live luxurious today instead of tomorrow. For those who flipped properties and invested, they thought they can make quick money. Real Estate markets have always been cyclical...its almost as if these homeowners have not ever seen 1 real estate market variation before...
15/09/2013
Five years today since Lehman Brothers ..
Down with market liberalism, Ayn Rand & Milton Friedman!
Greetings from Norway ~
Now this! This epic! Huge fan!
Who is the guy sitting in an office that flashes on for a couple of frames at 7:18? Bird?
Good spot. I'm not sure, I think it is Bird. Bit of subliminal messaging it looked like!
Spot on and much appreciated
I love the username, real genius and I bet inly 1 in ten thousand people will get it and its relevance.
RIP JF. Bremner, Bird, Fortune and Mark Thomas helped politicise me in the 90's growing up.
BRILLIANT!
Right at 7:18, there's a split-second picture of a man in his office staring at his laptop. Anyone else see this?
This is going into my playlist. Comedy section.
If only it weren't true.
@nkroti10 The Racial Component of Unemployment in Alabama:
We are particularly concerned by some trends highlighted by EPI’s statistics - growing
unemployment rates with a disproportionate effect on Alabama’s African American
population. During the current recession, the unemployment rate for Black Alabamians has increased from 5.3 percent to 15.1 percent, which is 9.3 percentage points higher than the rate for White Alabamians. (via epi.org)
Superb
You are absolutely right. USA is a Nanny-State. But no need to be rude and name call.
Sad to hear the news of John's death, he gave us many laughs over the years.
You're dead right on this. Having never heard of these guys, I missed their shtick. I was too quick to judge. Thanks.
Wish I'd known about the name thing before I chose my investment funds... 😆😆😆
Oh, how I would have loved to see a sketch from the Long Johns about /wallstreetbets. Sadly, John Fortune has passed away.
This is brilliant!
14th October 2007 on the South Bank Show
Very thought-out sketch
never a truer word spoken! did these guys have a crystal ball?
Thanks Sueiskra.
i suspect that`s a double entendre of some discription...
thank you very much, couldn't have explained it better
nomis, I'm glad to blame Wall Streeters for being greedy to an extent, I believe even without govt pressure to give huge home loans to people who couldn't pay them back, we would have seen a economic downturn in the 7-8% unemployment range. The reason why it was 10% instead was because of The Community Reinvestment Act used as blackmail under threat of lawsuits to pressure banks to give out loans to people far below the lowest standard banks ever had. At some point risk outweighs reward.
Exactly... the intelligence level of the UA-cam audience is stunning, as usual.
GREAT GREAT GREAT. :D I like it so much....
Now, now! Their they're! They're is no need to pcik out the typo's wen there mesaj don't git thru 2 yu. But thanks for taking the time out and changing the thread around to go off an a tangent.
Seriously though, is that your best input?
Your caps-lock is...locked.
I would have put a comma(,) right after PLEASE and properly.
About crisis:
Humour, jokes and second degree
are good for the mental health
of looser "rich men".
However, it's good also for the poor men!
It's good for every body.
GOOD ARTISTS!
Thank you from France!
(Excuse me for my dubious english... If you don't hunderstand, it's realy not important!...)
flashpoint in subrime video is a photo of a man looking at a computer in a small room..may have been the persom who uploaded the video,, the man is about 60, glasses, two desk top lamps, no info..
That is not as far fetched as it sounds , listening to NPR I learned of an "in foreclosure lady " her income was $1400pm,her mortgage $1700, the salesman , pointed out she could rent out 3 rooms and bring in enough rent to cover everything -4 Mexicans in the basement ,3 more upstairs , construction jobs vanish, and so do Mexicans , she can no longer make payments ,then loses her house .
I am so confused about this topic, but the faces are hillarious.
@werunthesestreets It is called SATIRE. People are laughing at the fact that it is in a way - true.
no comedy like this anymore