This hauntingly beautiful documentary tells the story of the greatest financial crisis we will ever see — the one that’s on its way (subtitulado en castellano).
Revealing the folly behind our policy response to the global financial crisis of 2008, Overdose exposes the structural contradictions that underpin our world economic system today.
In order to solve a burgeoning debt crisis, the U.S. government lavishly spent taxpayer money on bank bailouts, stimulus packages and deposit guarantees to the tune of $10 trillion.
That’s more than the total cost of WWI, WWII, the Korean War, the Vietnam War, the invasion of Iraq, the New Deal, the Marshall Plan and the moon landing — all added together.
Indeed, George W. Bush nearly racked up more debt than all U.S. Presidents before him – combined. And Obama is piling up more debt than all presidents before him — including George W. Bush.
Once again, we are being confronted with the fact that capitalism is fundamentally incapable of solving its own crises. As the renowned geographer and political economist David Harvey put it, “it merely moves them around.”
The key question this documentary seeks to address is whether our response to the crisis of 2008 could be paving the way for another, even bigger financial meltdown. And, scarily enough, it is.
The financial crisis started in a way that is eerily similar to today’s situation. It started with an economic crisis in the US and a government that responded decisively. After 9/11 and the dotcom collapse, the US government decided to save the economy by inflating a new bubble. Today, the world is trying to get out of the financial crisis by inflating a new bubble. The difference is that this bubble is much bigger.
Sobredosis from Horatiux on Vimeo.
source roarmag
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