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Old 05-04-2009, 12:06 PM
Eli Weiss's Avatar
Eli Weiss Eli Weiss is offline
 
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Default Video: The Crisis of Credit Visualized

This is an excellent video presentation on the credit crisis, created by designer Jonathan Jarvis.

Hereís Jarvisí description of the project, from his website:

Quote:
The Crisis of Credit Visualized distills the economic crisis into a short and simple story by giving it form. It is also argues that designers have the ability to see a complex situation, then turn around and communicate it to others. By giving graphic form to the credit crisis, it becomes comprehensible. Not only do economic activities take shape, but new relationships can emerge between these shapes.

My interest in the project stems from 3 primary sources: my simple desire to understand it, diagramming work I conducted at UNICEF, and my earlier motion design work. Initially, I researched printed news and spoke with several friends working in investment banks. However, I began turning more and more to audio and video sources for information. These sources contained an editorís narrative which greatly enhanced my understanding, often by putting the crisis in some sort of larger context. But I still could not find a holistic or concise explanation.

In the summer of 2008 I was awarded a fellowship to join The Innovation Team at UNICEF in New York. There, while designing global storytelling and media platforms, I began creating system diagrams. The diagrams served to make crazy ideas understandable, and served as a tangible object when presenting these systems which hadnít yet be built. I felt that I was onto something when the technical project manager informed me that the diagrams had helped him significantly with the system architecture.

After returning from New York, I realized that the earlier motion designs (see Harperís Index in Motion & Tangible Interactions) I had done were in a sense glorified, moving diagrams. Moving mediums allow for richer narratives. But what really intereseted me was when I gave form to an idea in the diagrams, I was able to draw connections on an entirely new levelóand communicate more effectively.
http://vimeo.com/3261363

(Hat tip: Little Green Footballs)
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Old 05-04-2009, 02:58 PM
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Default

Nice. Thanks for posting.
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Old 05-05-2009, 07:57 AM
Austin Austin is offline
 
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This was a really good presentation as far as it goes. What he didn't say but can be inferred from what he did say relates to Alan Greenspan and the general model of credit management in this country. Every since I have been in this business property inflation has always been around 2.3% annually. In income property appraisal the rate of inflation built into the model can be seen by subtracting the cap rate from the yield rate of return. For as long as I can remember it has always been around 2.3%. That didn't happen by random chance-that was part of the model that got us into this mess. As long as property values are increasing, how can one lose in the long run the story went!!! That is the underlying principle.
Then came the dot.com boom of the 1990 a la Clinton's executive order to remove all obstacles and let her rip. That led Greenspan to lower interest rates to restore the economy and replace the wealth lost in the dot.com crash. Again, as long as prices are going up, there is no way to lose and lower rates fed the tiger. That is where the story picks up in the above presentation. The lower interest rates insituted to offset the last bubble led to a search for other investment instruments and the story above pretty well explained what happened after that. Everything was leveraged and leverage works both ways but reverse leverage means things come down much faster than they go up. It might take 10 years to reach a certain level but it can come back down in less than a year with reverse leverage.
This is an interesting time to be alive if this economic stuff interest you. Some of my most vivid childhood memories are killing a snake and watching my grandmother kill a chicken. Cut the head of a snake and it will wiggle until the Sun goes down. Cut a chicken's head off and it will get up and run around for ten minutes with no head. That is the way I view what is going on in this country. We are witnessing a dying snake or chicken economic model with its head cut off. Lots of activity to no productive end as the dance of the dead goes on. It is still fun to watch California and the Federal government writh in the pain of their dance of the dead soon to lie still in the mist of their worshippers wiggling to the very last breath as the Sun sets in the west.
Truth when crusthed to earth shall rise again, the eternal years of God are hers-but error wounded writhes in pain and dies amist her worshippers.

Last edited by Austin : 05-05-2009 at 08:05 AM.
  #4  
Old 05-06-2009, 05:37 AM
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Ok then. Back to the video, as long as it was it did leave out the effect of Adjustable Rate Mortgages on the credit crunch. Predatory lenders enticed buyers AND long time homeowners with low ARM rates and the promise that they would refi it for them before the loan adjusted. They lied and lots of people lost their homes. These sub-prime loans should have been regulated in the 2000's.
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