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World Collapse Explained in Three Minutes

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Time now for John Clarke and Bryan Dawe with a few reflections on Europe's financial woes. Your name is Roger, yes? Roger! Aah, that's your name. Roger. Good, and what do you do Roger? I'm a financial consultant. Aah, financial consultant eh? Roger, yes. Yeah, terrific..and Roger, how's business at the moment? Not bad, thank you. Aah, it's been a bit quiet lately. How do you mean "lately"? Since the war, it's been a bit quiet. Fair enough. OK Roger, your special subject tonight is the economies of the European community. Your time starts now! Best of luck. Thank you. How much does Greece owe Roger? Ah. 367 billion.dollars Correct, and who do they owe it to? Mostly to the other European economies. Correct, how much does Ireland owe? $865 billion Correct, and who do they owe it to? Other European economies mostly. Correct, and how much does Spain and Italy owe? One trillion dollars each. Correct! Who to? Mainly France, Britain and Germany. Correct, and how are Germany, France and Britain going Roger? Well they are struggling a bit, aren't they? Correct. Why? Because they've lent all these vast amounts of money to other European economies that can't possibly pay them back! Correct. So what are they going to do? They are going to have to bail them out! Correct. Where are they getting the money to do that Roger? Hahaha. That's a good question? I don't know the answer to that one! How much does Portugal owe? Hang on a minute! What was the answer to that earlier question? Just keep answering the questions Roger. Where is Portugal going to get the money it owes to Germany if Germany can't get back the money that it lent to Italy? Just a minute. What was the answer to the previous question? The question was, how can broke economies lend money to other broke economies, who haven't got any money, because they can't pay back the money that the broke economy lent to the other broke economy and shouldn't have lent it to them in the first place because the broke economy can't pay it back! You're wasting very valuable time Roger! How much money does Spain owe to Italy? 41 billion dollars, but where are they going to get it? Correct, but what does Italy owe to Spain? 27 billion, but they haven't got it. They're broke! Correct. How can they pay each other if neither of them has any money? They're going to get a "bail out" aren't they? Correct, and where is the money coming from for the "bail out"? THAT'S WHAT I'M ASKING YOU! Correct. Why are people selling the European currency and buying the US dollar? Because the US economy is so much stronger than the European economy. Correct. Why is that Roger? Because it's owned by China. Correct! And very well done. And after that round, you've lost a million dollars! I've lost a million dollars? I thought you said well done! Yes, well done. You've only lost a million dollars. That's an extraordinary performance Roger. I've only lost a million dollars Very well done. And that's quite good is it? Oh it's excellent! Sell everything immediately. Quickly! I think it's called "laughing as you sink".

Video Details

Duration: 2 minutes and 44 seconds
Country: Australia
Language: English
Producer: Aus
Director: Aus
Views: 8,222
Posted by: vortex11 on Jul 26, 2010

Two comedians try to understand the global financial crisis.

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