tv Documentary RT September 16, 2017 4:29pm-5:01pm EDT
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 astrid at this hour the lehman brothers investment bank appears headed 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 the 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 kicked my husband out and missed out a big impact on my children so i think at the time that and i had a lot of making up to date to them and at the time i thought that the way i needed to make up that was financially so i would just try men. the out them and
christmases i would go ridiculous find ridiculous amounts of money not 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 twice i was so 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 star game bigger and the star 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 you have 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 i did three very well because of the worry over them and we cure him. of always actually going to bed or no wouldn't i call growing older i've got flow. to dictabelt reply more scared me throw more. i didn't know what to do. i've lost complete russian company or we're. going to actually do or go one hundred looking for more. or we're down to a phony. one of the club through from pride that i know that my. the bankers were helped by the government the banks got into trouble and all the
big bankers guppy. and i think on the government the banks but i started think of three fortenberry the ordinary men and women that. lost money so as a bank and so because the bank to banks have been out but i'll type of the government. the infrastructure for the proof of the contrary to all but disappeared and you know there were a lot of coach. i'll just find to make my on you were to me because it's changed yeah i'll go on if it is in front of me all right. thank. you but yes he wants to speak to us 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 is not straightforward our government defines it as anybody who has been at least three months behind their debts in the last six months. 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 could 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 or other issues just to give you certain general impulse buy so panic 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 and try to act 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. and i was the only one. that was actually have 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 really. do you know. if you want to. let go thank you. for you to feel. a lot on that of the. innocence i wanted to move through it was
remember their families. and rules. as to who. the voluntary advisors are often former bankers who now retired have decided to change sides as it were their kind of repentance here the volunteers share their past expertise like the chairman of cases strasburg. a former lawyer a voluntary advisor for ten years and a tireless militant in the fight against overindebtedness.
but in the chaos of only two typically hostility will the day then they'll know. she'll. pull out monks' ski quartzite village will be chaos. no. good. cobol. to say. the unique model books it is that the sea sick of any dishes. all in. the city some point zero cost. us a new right now larry i don't know small but i feel called hot babe from new york city can see.
from was a few contin filmy buddies you get up a good necessary. call segues a cigar of all that. had made me. go to name that. place about me that won't let up simply me here. oh it's a record of the new yorkers who for good or for that kind. of. gives up to the crowd if. not obsessed if i want america here to prefer to school no chimp and use. federal to turn a feeling of. their credit to their military so that you could look at the hurting
. pulpit outearn a little bit of their own. okun . see. 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. a bachelor sudden passing i've only just learnt you worry yourself in taking your
last bang turn. your act up to you as we all knew it would i tell you i'm sorry for me i could so i write these last words in hopes to put to rest these things that i never got off my chest. i remember when we first met my life turned on each breath. but then my feelings started to change you talked about war like it was again still some are fond of you those that didn't like to question our arc and i secretly promised to never be like it said. one does not leave a funeral the same as one enters the mind gets consumed with death this one quite different i speak to you now because there are no other takers. just the same that mainstream media has met its maker. heard think you're new to the game this is how it works now the economy is built
around corporations corporations run washington herd washington controls the media the media control over the voters elected the businessman to run this country business equals power boom bust it's not business as usual it's business like it's never been done before. they're bred for a single purpose. they have a superman. they start training very young. eight months of intensive school. they're rats. and they save lives. like many of the inhabitants of this little volcanic island in the north of europe
fanny thunder self overindebted 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. where to make the label either a monthly. or a long a mammal or. there we're going to get most who said it. would have been after school the last. hour or. two from to london. with a woman it was on the market but. along with. a lack of s.b.s. to a good job. it took about a minute they did i mean. i mean most experts were talking to go along
america mini i miss you but i. acted like. there was nothing to process. after. the several million if. 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. get this truckload. of them in this unit congress and if you don't mean that you should find. something. that will save you. well but. i think you have
a certain point you. don't want their kid gets. to before. if you insult me. you. know what you do because you'll who said it is all full of little that that animal to seek it well who does all. the usual. daily phone son keep this one date the kids it was it made them an all star no money member we me it was it i was ina do the damage they did was they make of it was invert they'll see whatever you says well it's good to be like let me spend them said only exclaimed not really to trust one critter only publisher want to tell us more about a lot of prattle to papa and we are impressed to hear. from general type of police
who voted for the other consumers from sean that also in the movie you'll hear it was relieved to know and. the answer to. the do to trust. when your doors are not clearly to steer through the moon don't concern me or didn't you or you wasn't interested. and involved some to film. them all balderdash for good if the whole looks evil to look at the old all she did was a simple something they need to. people some don't. kid if you nine hundred delegates she to see to it she to deny the steam create the suppressor and once you want it well. 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. 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 less than the richest 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 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 discern turned out to be
wrong socially 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. and. the laws. said that it doesn't need professionals they eat. in those. means that i think is emotionally he said. yes if you cynthia.
the. most. but i think i mean. because it made me and if we imagine that that's too much maybe mrs miller is a pattern isn't only the most that has matter me an e-mail they feel mass. and this made. us know in. the 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 basest las. but i guess i mean yes.
into any. there's interest of either as a lot of them as in the whole bit of messenger stuff other. companies be saw and they're warmly malia and those muses and those people are starting kerry's remorse they were not bush that he was doing by the way me higher was completed piece was to pull in those and when daniel woodrell. in the last the last army as. a second brancato contestant went i mean there were those that will go and that is the end of. this and the thing went down you know there's needles you're in no way on us in battle and they pay sawdust into. the capitol so i mean this is and i'm labeled as is the last i'm see that will and that is. this is a way to get out bush will. a. how you would i know i need the law if
it. 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 that of france or germany over the past twenty years the danes have gotten massively indebted encouraged by governments who have made access to credit very easy. to go i travelled across the united states exploring america's deadly love affair with a gun if a bad guy tried to get to one of my family members he would have better lives there
better and i think they are inheriting whenever my my babies since my book was published in the year two thousand more than half a million americans have been killed by firearms in the us i had a thought to me as i did yes this is a middle school we go through drills and we put ourselves in real scenarios it was interest same to see who actually got hit by the gun i just saw i did to return to the subject to track down each gun owner who i'd met and photographed those years ago i don't know this but we are not. seem wrong why don't we all just don't call. me. yet to shape out just to become educated. and in. a close betrayal.
when so many find themselves worlds apart. just to look for common ground. one. well nobody off. the marshall an. islamic state claims it was behind the month just a terror attack by the north front so kill the priest every time a terrorist attack happens all these people are out there screaming isis so bad someone needs to do something against them. why don't. you. know. that if. you challenge them. anything. hope you sound has got
a. look and listen. prescribe medication is widespread on the us market and a frequent cause of death at the point in my life i just felt like everything was ashes my family was literally coming unglued i had actually planned. to commit suicide watch all who has made antidepressants so commonly used we were doing what the doctors told us to do we were being responsible and what the real side effects . was. what i did was done on a cocktail of legal drugs. just because