tv Documentary RT July 23, 2017 4:29am-5:01am EDT
just like it's never been done before. here's how it started with u.s. households sinking ever deeper into debt encouraged by the government and the banks to take out mortgages even those who did not have the means to do so. until the day the bubble burst this has been a historic sunday aster to this hour the lehman brothers investment bank of the year is heading toward bankruptcy in two thousand and eight the poorest homeowners unable to meet their mortgage repayments began to massively sell off their properties the real estate market collapsed and along with it the banks who become embroiled in these subprime loans. on september fifteenth two thousand and eight the death of lehman brothers the fourth largest u.s.
investment bank not the beginning of a huge financial and economic crisis that would spread worldwide. the likes of it had not been seen since the great depression of the thirty's a wave of corporate bankruptcy is followed with considerable loss of jobs. to people blame the bankers like here in iceland where eighty percent of the banking system collapsed and even more so in greece where the state teetered on the brink of bankruptcy. with the crisis of public debt skyrocketed as did household overindebtedness a veritable scourge that would affect one person in twenty in europe especially in the u.k. . five years the guy me and my husband split up. i actually kicks my husband out and miss out a big impact on my children so i think i fell at the time then that i had a lot of making up to date of them and at the time i thought that the way i needed
to make up that was financially. so i would just throw money at them and christmases i would go ridiculous find ridiculous amounts of money like thousands of pounds on stuff they didn't need and work like they'd probably play with once they go in the water. so i strike was ten i did it i took out a loan but then one loan was not enough so i had to pay that loan back then i took another loan to pay the loan back and hold the stock and bigger and the debt start a game bigger and it was spiraling out of control. like many other british people sharon fell into the trap of easy credit with online catalogs where with a simple click one can buy all kinds of products on credit often with annual interest rates of up to thirty percent. it was so we say it was so easy to go online and go yeah it was my name my address my details yeah thank you very much
money's in your account so i made them made it too easy for me to get into debt. as for philip he took out loans to supplement his meager pension but he went under when the government abolished his council tax exoneration for the elderly. whether i do or did three very well because of the worry over them a week you're in charge of. always actually going to bed or no wouldn't. grow your drug or throw. to get a bill to apply more that's going to throw more. i didn't know what. i'd lost complete russian company or worse. go to want to do or got one hundred looking for more. or down to a phony. one of the club who don't flow from pride that i know that month.
the bankers were helped by the government the banks got into trouble and all the big bankers got big and there was ink on the government that the banks but i just didn't think of the fortunately the ordinary men and women that. lost money so as a bank and so because the bank the banks have been out but i'll type of the government. the infrastructure for the proof of the contrary. you know there were a lot of coach. i'm just trying to make my underwear to me because it's changed yeah i'll go on if it is in front of me all right. thank. you. yes he wants to speak that's it ice that's fine let me let me just get everything up here for you sharon regained hope thanks to the advisors at step change the
u.k.'s largest debt charity which specializes in debt problems in two thousand and fifteen they advised on average over one thousand five hundred people a day because in the u.k. the price of economic recovery has been very liberal austerity measures the driving down of wages and drastic cuts in social welfare. the definition of problem that is not straightforward our government defines it as anybody who has been at least three months behind their debts in the last six months and that's eight point eight million people in the u.k. bad things can happen you know you become ill you lose your job your relationship breaks down here become a casualty most important in most circumstances is you get help to get back on your feet because the cost to wider society of people being in there are huge over half the people who come to us have had to go and see their doctor about mental health
issues just to give you seven general impulse price ok with the enforcement. they do need to me peaceful and healthy into sound because what they'll do them to do is to control did. so i know you know that it. takes to keep the door shut tight in fact again and so. at the time i felt like it was just may and i would else was financially following and it was only me. that was suffering. sorry . i thought i was the only one. that was actually having to do with living like this and living with the fear of losing my head a milly's not upset being homeless with my children having my children taken away from aches i couldn't look after them properly.
by way of a strange paradox people who are deeply in debt feel terribly alone and yet they are increasingly numerous. in france over one person in ten admits suffering from financial difficulties like dominic who was made redundant three years ago in strasbourg. he has resolved to go and see the creases association whose initials ironic a stand for. regional chamber for social overindebted this has become a mainstay of social assistance for those who find themselves in a financial data twenty five associations in france six hundred voluntary staff who would like step change still engage in face to face interviews leak. if you want to. let go thank you. for you to feel.
last. day i don't know. sick it would do for. this. city for. cobol. to say. but also a set of unique model books and it that the sea sick of any dish if you. look at all in our yoko no kentucky dog said t.p. some point zero cost. us a new right i say i don't know small but i feel called hot babe from new york he
says he can see he says he she did. fall in a slip in your local. pub was about the old if you contin filmy buddies you expect get up at sun good necessary. to. call segues a cigar of made all that. supper table so why don't you get me said i would call names all said you've got to go to name that. supplies about me that won't let up simply mickey all they. say we could if i didn't your case you. give so crowd if i mustn't have sensed if i want you to prefer to. jump in use. said i'm out of town and feeling no. credit to you
little itty there's been a good to have been increasing my. pull to have turned that little bit of don't know kind of. but. there's anything. you can. see here. in iceland where the two thousand and eight crisis really hit hard fanny whose house was repossessed is now desperately looking for a new home. her debts had reached such a level that the government measures to reduce household indebtedness were insufficient to help her she's been taken in by her sister.
but i do think that archie is a propaganda arm of the russian government and helps to spread. information that helps advance russia's interest and so that's why i think it's important for people like me to come on if it weren't me it would be somebody who was less capable who would maybe not do as good a job presenting the american point of view. if you mentioned. the six thirty five if you have a career and unclear involves using your eyes in your computer and things like that in an office. perhaps you sort of getting going it's a circular to going to have to stop doing all this in this kind of you lose the
newts must be for my world became smaller and smaller and smaller until i ended up winning it in a box. at a very strong magnetic field on the field in my head. i think it's like a real hard pressure on my skin burns and that wireless access point. just continues on saying with our students in the schools. we are just continue. our citizens in this microwave radiation it is certainly electro small and it's getting worse. like many of the inhabitants of this little volcanic island in the north of europe fani thunder self over indebted despite having made no mistakes because here most mortgages are consumer price index yet due to the crisis and the fifty percent
devaluation of the icelandic currency inflation soared as a result mortgage repayments suddenly doubled and many icelanders found themselves drowning in debt. we're live on a monday. along. there we're going to get miss to sit. in after school. or. from to london. with a woman it was on the market. along with. good. expert. along with. him. here. when spread liberty you were.
as long as a person can pay off their loans they were given the red carpet treatment everywhere but once that person can no longer meet their repayments things get more complicated today most consumer credit companies have been acquired by major banks such as. by credit. whose debt collection agency very eager to stay in touch with their clients you see it is trying to be pretty simple and obvious you. don't mean that you should buy the. last thing you. want but. i think you have certain of what you. do want to work against. before.
excuse. me. this you'll lose that it is all food that the multi-seat will. be flown. on that the kids it was it made them a no spend the money. remember we me it was it i was ina do that emma davis they make of it was invert they'll see where you says well it's google like let me spell says it best to come said exclaimed oh not really to trust one critter. want to don't want a lot of prattle to papa and we are unfair to your. general type of police who are critical so mr shawn that also in the movie you'll hear it was relieved to know i was of course the answer to. the do to trust woman not to
a funeral she just wanted to do. when your daughter not clearly through syria through the move don't kisumu to do q. or you wasn't. involved some to film. little kingdom opened and shut for good when and if the whole looks evil to look at the until she did was a simple something i need to. people still don't. use. it all say a kid if you nine hundred delegates she to see to it she too to know the strain create the suppressor emotional and it will. in the autumn of two thousand and eleven americans took to the streets on mass to protest against the greed and cynicism of their banks who had made huge profits selling toxic subprime loans to probably knew that if they got into trouble the state would step in to eventually bail them out because given their financial clout the whole system would collapse if they were to go under there were simply too big to fail and.
one of the leading figures in the occupy wall street movement is the american anthropologist david graber a specialist in the history of debt and one of the inventors of the slogan we are the ninety nine percent of those who own. then there was just one percent there was about a period of three or four months after two thousand and eight where people. were all saying you know what is dead anyway what is money why do we have the systems through why is find it so important is this even capitalism to even want capitalism fall open you know all questions seem to be open because everything we just simd turned out to be wrong centrally for thirty years they've been. saying well you know capitalism might not be a very pleasant system but it's much better these people who are running the system might not be very nice people but they're really smart and they're the only thing
that works and there's you know they know they understand what they're doing you don't just shut up and leave it to the experts and it turns out all these people who are supposed to trust their expertise were either complete idiots or scam artists or both how they could imagine it would lead to anything else is beyond. what would it be. in spain widespread evictions by the banks of over indebted families gave birth to a vast civic resistance movement in two thousand and nine and barcelona outraged militants set up the ph platform for victims which currently comprises two hundred fifty neighborhood associations across the country.
a list of the most that is with as matter me an e-mail they feel mass. and this made. us know in. your understand there man that the main objective was to reform spanish mortgage lending laws according to which when a bank repossesses a property the outstanding debt is not automatically cancelled with the bursting of the property bubble and the plummeting house prices many families found themselves up to their eyes in debt even after having sold their homes. in madrid the ruling conservative people's party plucked the reform but in barcelona on july twenty ninth two thousand and fifteen it was unanimously ratified by the catalan powers thank you for the racist las. but i guess i mean yes. a lot. but i was there any particular like you live. in this house here.
their warm. and those muses and those people are starting to see more better we're not bush that he was doing by the way me higher was completed. in those and when daniel woodrell a lad. in the last west army asked. a second parent what was interesting with tommy there were those little. that is the end of. the thing one time you know there's needles you're in no way on us in battle and they play sawdust into. the capital i mean this is entirely old as is the last time see the little and that is the this is a way to get our personal to it. in any of our silo so you're not all right maybe if they. the situation is particularly worrying in the northern european countries in sweden
norway finland and especially here in denmark where the rate of household debt is currently the highest in europe three hundred percent of disposable income double that of the u.k. triple battlefronts or germany over the past twenty years the danes have gotten massively indebted encouraged by governments who've made access to credit very easy . in the us a child can choose a nominee course in school. with a retired officers as teachers we don't. recruit we'll sister if the cadet is interested in going in the military but we don't recruit ourselves and see. the
pentagon is funding a program to boost interest in the military among teenagers who challenged to step up to an apollo so that also lay quite comfortable with yourself and think you are yourself you can't go wrong with the military it's a great stepping stone for whatever career you want to do but some veterans are willing to tell enthusiastic children a little more they ask you call of duty is very popular first your video game. it's play and that's because the military like call of duty to turn off call of duty oh yeah or you can turn off your body these kids just don't hear. the darker side does the pentagon allow them to be told or does it just need more recruits. they all. say yes. so. yes to almost all the.
closely. here's what people have been saying about redacted in the night the sixties full on awesome the only show i go out of my way to launch it was a really packed a punch at least yampa is the john oliver of hearty americans do the same we are apparently better than two thousand and six and see people you've never heard of
love went back to the night my president of the world bank paid money to buy me seriously he sent us an email. this. can all those get a little bit of code was. possible i'm a lawyer but i. know both of us better get some kind of sign of this yes or no but if you dump out and just know she refuses to see. that. he will. it's just a good area for immigrants it's. never really know for sure but this is been a. rescue
so i. know we're going to have no idea. that. among the stories that shaped the week our t. talked exclusively to the russian lawyer at the center of a media scandal over her meeting with donald trump jr last year. violent clashes between israeli police and muslim worshipers on this week after the israeli government was extra security at the river. it went into one of four by six meters one hundred fourteen men that had been there for really horrific conditions. are revealing video shows i saw suspects being held in dire conditions inside an iraqi prison sparking concern from human rights groups we hear from one of.