The Global Debt Crisis

I've recently been spending a lot of time (the last 6 months to be exact) studying the current economic state of the world. In a nutshell, things are so screwed it's ridiculous.*

Where do i start? America are finished. Their economy died in 2008 and things simply haven't gotten any better. Europe is a debt time bomb waiting to explode. Even China is a huge mess. We've merely been stalling this whole time, postponing the inevitable collapse of the financial system.*

Although I'm sure all this meaningless to you. But that's the problem - people have no financial background what-so-ever; and it's this mentality that has got us to this position in the first place. People aren't taught in schools about how the monetary system works, what inflation is and how the government spends it's money. Something as fundamental as "interest rates" is a foreign concept to many. I bet if i were to ask you where money comes from, you wouldn't have a single clue. If you knew, you'd be outraged.

Unfortunately, i think a lot of it comes down to financial ignorance. People don't give a crap about what the hell is happening in the economy. People are more concerned with master chef and dare i say video games. If people aren't educated on financial matters, then it's impossible to hold the government accountable when they make crappy fiscal decisions. And trust me, they have.*

I made a video that i think explains the whole crisis really well in under 10 minutes:*

/watch?v=Kz6xG2YtyyE

So what are your thoughts on the whole matter? What's your understanding of the current situation? If you have any questions feel free to ask, I'm more than welcome to give insight. I'm only 18, but I'm extremely passionate and knowledgeable.*