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The Big Short - YouTube Version (Patreon)

Published:
2023-12-10 13:00:03
Imported:
2023-12
Tags:

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The Big Short | Canadian First Time Watching | Movie Reaction | Movie Review | Movie Commentary

Simone & George are reacting to The Big Short for the first time! Canadians React! For unedited full length version go to https://www.patreon.com/Cinebinge Merch Store: https://www.cinebinge.ca Subscribe | Like | Share | Comment Early Access & Full Reaction available on Patreon! #moviereaction #moviereview #thebigshort Instagram: @cinebingechannel Instagram: @simone.swan Movie Reactions: https://www.youtube.com/playlist?list=PLN1ts9cZbHakYDfILlxWOp8Rwm60i6s31 The Witcher Reactions: https://www.youtube.com/playlist?list=PLN1ts9cZbHakPpBOOSyThaEu9GBs7h5af Squid Games Reaction: https://www.youtube.com/playlist?list=PLN1ts9cZbHakSIA0kJIJkUmcxmms0m_Q0 Band of Brothers: https://www.youtube.com/playlist?list=PLN1ts9cZbHanBD7cksu-blgCyxZOJrgT0 Blind Playthrough: https://www.youtube.com/playlist?list=PLN1ts9cZbHan3qPNF7wNbOvo653VjhxOR

Comments

Anonymous

i was working at a forge and i got laid off. i was in an 8 year relationship with my highschool sweetheart and we just fell apart. she was able to maintain a job, but i had to do temp service jobs, but even that didnt really work. i ended up doing these jobs where people would drive by the temp service agency and then grab the people that didnt get work and then spend the day doing the worst kinds of labor. my relationship didnt survive the stress of it and i ended up moving from ontario to northern manitoba where i still am. all these years later im still single and living in the middle of nowhere. never really got over that level of heartbreak despite years of therapy.

JakeyShakeyBakeyBoy

Adam McKay really showed what he’s capable of outside of broad comedy with this movie. He really knocked it out the park. Also Margin Call is another excellent film on this subject which takes the perspective of the bank fire-selling off their bonds which precipitates the crisis

Jim Frykman

I'm back after my patron hiatus! Had to go long and sub for a year to catch this one early(ish)!

Anonymous

I'm old enough to have lived through it. But that mindset is wrong because it casts it as an event that has passed. The effect of the "financial crisis" is still ongoing today and we are living it in our housing prices, inflation and the slow but advancing move away from the dollar as the global reserve currency. The govt. and federal reserve didn't fix this problem, they in large part kicked the can down the road. To an extent, they had to - we're talking catastrophic collapse. To expand on that, at the end of this reaction George asks about why anybody needs so much money, all these millions? But millions Ryan Gosling's character and others make is really just a little cream off the top. The money involved is people's pensions, savings, mortgages. And it MUST be invested because the economic system is inherently inflationary by design. If you don't invest your money you become poorer every year. And if you're investing your money, who do you invest it with? The person who makes more money for you or the person who makes less? It's okay for Michael Burry or Ryan Gosling to make ten or twenty million when they return a billion more for their investors by understanding the market, knowing how to manage that money. It's as sensible to blame Gosling's character or Burry for this as it would be to blame someone selling lifejackets on the Titanic. You can call it reprehensible if you like, but the ship is sinking and the reason is already in the past. If this film struggles with one thing (not for want of effort), it's conveying to people the time scales in this. People seem to think that the causes were happening at the time this movie takes place. But this movie is about people escaping the Titanic, not it hitting the iceberg. By the time people like Burry start noticing, it's way too late to change the outcome. If you want to blame people, well ratings agencies and blind eye turning from the SEC are a large part. At the end of the movie, Baum says "they're going to blame poor people and immigrants". Well that's not wholly false - when you leave income section blank on a mortgage application and let your broker fill it in for you after you've signed it, that IS fraud and you should know it is. When you falsify or don't return credit information, that IS fraud. But at the same time, poor people are largely poor because they are bad with money (generationally) and a recent immigrant who thinks America is the land of free everything, is quite likely not to have a strong grasp of US mortgage systems or job market. The system itself was predatory, exploitative and de facto entrapment. And very few of the people responsible for that have been punished. The *actually* capitalist thing to do would be to let the banks fail. But money is effectively a form of trust, a way of making promises fungible. Defaults at the scale of this, would be catastrophic for society. So they had to kick the can down the road. The problem is that almost no advantage of the extra time this bought has been taken. There's been no sincere effort to unwind America's $33trn debt. The US dollar is most still viable because it is the global reserve currency. That means international trade is conducted in it and therefore America can keep offloading it to other countries and thereby offset inflation. If / when that changes, there will have to be some very radical action. Which wont be good. That's why I said at the start of this (thanks for reading this far) that the biggest mistake is people talking about this as a past event. It's a bomb that went off, but the explosion is still going on.