Check out this video which explains the last 10 years of the US economy in a lovely animated cartoon with visually appealing vintage graphics that came right out of a Papermarket store. It’s 30 minutes long, which is long for an online video but shorter than reading a boring-ass Economics textbook.
Some food for thought: Around 26:00 into the video, the narrator describes how a “beautiful deleveraging” can come about if the central bank can balance the deflationary and inflationary ways to reduce the debt burden. Singapore seems to be focused on several deflationary policies at the moment with cooling measures and loan restrictions rolled out in the last couple of months. I think it’s a good time for Singaporeans to reduce our debt burden from our crazy real estate and automobile prices, but will that deleveraging be beautiful or horrifying? Discuss. 🙂