"I have 5 houses... and a condo..." "THERES A BUBBLE" lmao always loved that transition

@han3wmanwukong125

3 жыл бұрын

Keep in mind, very rarely do we learn economics in high school or college. It is not a required class. But I had to take an elective class on kinesiology. It was required. I took Eastern Medicine.

@lubu2960

3 жыл бұрын

@@han3wmanwukong125 what school did you go lol? eastern medicine?

@John_Jim

3 жыл бұрын

That's what I searched for. I *need* like a 5 second clip of that!

@han3wmanwukong125

3 жыл бұрын

@@lubu2960 i went to UC Berkely. Got my PhD in physics. Yes. Like accupuncture and cupping. Apparently, eastern medicine was considered a kinesiology class when I was taking my undergrad. Waste of my goddamn time but the chicks were hot and easy, so....

@cheesemccheese5780

3 жыл бұрын

@@han3wmanwukong125 lol

The way he goes "haha you own a boat?" and then swiftly turns his head and changes topic kills me lmao

@ronpurane6547

3 жыл бұрын

That's the best part for me

@ellisf4300

3 жыл бұрын

That always makes me awkward for no reason. It's funny but I feel disrespected. Idk how to explain it. Imagine being that dude. Jesus.

@hectorgarcia1326

2 жыл бұрын

@@ellisf4300 that dude was bragging that he bought a boat off exploiting immigrants, disrespect is the least he deserves

@chriszimmerman9737

2 жыл бұрын

@@hectorgarcia1326 fuckin a. More like a prison sentence.

@Justin-dy2sm

2 жыл бұрын

That was really good acting lmao

"Who's Warren Buffett?" LOL

@cine.musique

2 жыл бұрын

now we ll never know...

@Batbond007

2 жыл бұрын

Well, they work in retail.

@antonioblingbling

2 жыл бұрын

Never heard of her 🤣🤣🤣

@MichaelLee-tt7gm

Жыл бұрын

"You wouldn't have heard of him; he was smart enough to stay the hell away from CDOs."

"Crazy" playing in the background - brilliant

@LuisFernando-yd3mx

3 жыл бұрын

Yeah but in the stripper scene it's Milkshake.

@riffhousestudios96

2 жыл бұрын

@@LuisFernando-yd3mx yeah bro that’s the real genius choice here

@bradleyhayman2682

2 жыл бұрын

I don’t get it

@abhishekn4448

2 жыл бұрын

Thanks mn

Why are they confessing? They're not confessing, they're bragging

@jimmysmith736

3 жыл бұрын

I did watch the clip btw

@raimesey

Ай бұрын

I love it when people just randomly comment a direct quote with no other input of their own. Great work my guy 👏🏼😆

One of the greatest movies ever made; hands down.

@sgt.thundercok4704

2 жыл бұрын

There is a book, ya know...

@btuesday

2 жыл бұрын

agreed

@ramsnation196

2 жыл бұрын

@@sgt.thundercok4704 there is a movie…ya know…. he said greatest movie….not book…. you lame nerd

@Davi-D1

2 жыл бұрын

100%

A few years ago I was waiting for a pizza and saw a brand new Lincoln SUV with a Domino's logo on the roof. Teenage driver comes in and I asked if he bought the car or if it was a present from his parents. He says no, he got approved for it on his own. I thought to myself, "There's a bubble. I want fifty million in subprime auto swaps. Yes I'm sure."

@gadget00

3 жыл бұрын

LOLOLOOLOLOL

@readsomebooks666

3 жыл бұрын

How’d you make out?

@lilkris3008

3 жыл бұрын

You’re right but the auto market is nothing to the mortgages premiums would eat you alive

@WJWeber

3 жыл бұрын

Don’t doubt it. Young people make bad mistakes. I doubt he got the car intending to use it for pizza delivery. Either way weird you ask him that.

@davecrupel2817

3 жыл бұрын

A former tech school classmate of mine works at a job for 2/3 above minimum wage. Dude drives a large 2 year old Audi. I'd say a bubble is still here.

Every house in the neighborhood has either a boat, an RV, or jet skis parked out front, also a For Sale sign. "Neither of them are working right now".

Me at the end: "There's a bubble! But I need to stay in Vegas another week to do more research"

@LuisFernando-yd3mx

3 жыл бұрын

I thought they were in Florida in that part but could've been Vegas.

@napoleonsolo5929

3 жыл бұрын

@@LuisFernando-yd3mx That part was Florida.

I love the fact that both the real estate agent and the dancer defined the market crash as a "gulley". She bought into the scam hook, line, and sinker.

@cine.musique

2 жыл бұрын

working on my realter license around 07 and we did have 2 strippers in class, they both already owned apt complexes... they werent even that good looking.

@FastProProductions

Жыл бұрын

Like Covid Ha ha

That's what I call due diligence

'I was a bartender, now i own a boat' 'eyaaownabow:D so how many these are adjustable rates.

@Hal09i

3 жыл бұрын

That was thing back then.. even during the bubble before the crash it was a scam...a buyer would be sold on an adjustable loan and told they could always re-finance later to a fixed loan later after the teaser rates went up. Use this to buy a more expensive house and anyway, the home value was only going to go up buyers were told... So why not take advantage. The loan would sail through. But once locked in, the buyer would find it was not so easy to re-finance...suddenly the banks were doing their due diligence in those cases... income verification, the whole works. Banks did not want people squirming off the hook on those adjustable mortgages...

@Vanity0666

7 ай бұрын

​@@Hal09iguess who controls the rates

There's something poetic about Baum popping the bubble in this particular setting. Warren Buffett said of the 2008 crisis: "It's like Cinderella at the ball - everybody knows they're going to turn into a pumpkin at midnight, but no one wants to be the one to stop, because everybody's having too much fun." Carl Hiaasen said something similar about strip clubs: they're like a grown-up version of Disneyland, where men in bowling shirts go to fantasize that they're actually going to hook up with a beautiful naked woman. And the dancer is Cinderella, realizing that she's not a budding real estate tycoon, she's a waitress working for tips who's saddled with six home loans when she can't pay off even one. You can almost hear the music come to a screeching stop.

Gosh, this movie is so good. Literally every scene is Gold

@papusa9878

2 жыл бұрын

Yep

The loan officer I used back in 2004 said the same thing - get two loans, an interest only and an ARM and then refinance the ARM after the home prices have increased. Thank goodness I went the fixed rate route since my home value was cut in half in 2008 and didn’t break even until I sold in 2016. Still felt like an idiot though

These two dudes come to mind when I hear the word "Chad"

@sgt.thundercok4704

2 жыл бұрын

Is 'Chad' synonymous with 'douche'?

@DannyMatapi

2 жыл бұрын

Yes

@DannyMatapi

2 жыл бұрын

@@sgt.thundercok4704 and yes

@rabd3721

2 жыл бұрын

And they'll unironically call guys like Baum a "beta" lol.

@manco828

Жыл бұрын

Do they know a guy named Bodnanoff and call him 'master'?

1:30 is great acting. Laugh with the guy and humor his bragging about his boat then get instantly serious and get the conversation back on track.

@mygoogle1594

Жыл бұрын

4:06 is pretty good acting also. Baum manages to maintain eye contact with the naked woman he's pressing for anecdotal info.

"They're not confessing" "They're bragging"

I watched this movie kind of on a whim and it blew me away. It's SO well written and acted! I liked it so much I watched it again a few weeks later... and I almost NEVER do that. Shoot... now I want to watch it again.

@FastProProductions

Жыл бұрын

Its an Instant classic

@hkmorhsi

10 ай бұрын

Right? It feels so real, because its based off a real story and book recounting the events

@skiwheelr

7 ай бұрын

I read the book first, so when I heard they were turning it into a movie, I was flabbergasted. Its about rates, finance swaps, business deals, risk tolerance. Boring as dirt, you'd think. But they found a way to tell the story visually and through dialogue that made it work brilliantly.

@DanCornish-wj7wk

5 ай бұрын

I might be a psychopath, but I've probably watched this movie at least a dozen times lol

I was in the military at the time and these guys were my friends in the civilian world, NONE of these guys thought their fortune would end

"Wow...lot of people seem very motivated..."

@ewanfraser

3 жыл бұрын

It’s just a gully. It’ll pick up.

@VenturiLife

3 жыл бұрын

@@ewanfraser Bitcoin? :)

Had a friend in 2006 told me he owed 300k on his 90k house. He renovated, bought a brand new car, paid bills, took a vacation, bought a boat. I told him "My god you owe 300k on this crappy little house" He said "It's ok because the value keeps going up. If I can't make the payments I'll just sell the place for a big profit" He also told me how dumb I was for not investing in real estate.

@penguinpie5056

2 жыл бұрын

this is canada right now.

@curiousHell1775

2 жыл бұрын

@@penguinpie5056 short on Canada

@manubhatt3

2 жыл бұрын

What does owing 300k on a 90k house exactly mean? That he bought a loan with his house as security/collateral? If that is the case then in the case of non-payment of loan installments/interest, wouldn't the house ownership transfer to the lender/bank?

@btuesday

2 жыл бұрын

@@manubhatt3 Yes! Exactly. They bought it for 90K before the bubble, and when the bubble burst, they tried to sell, but couldn't get more than 110K. So they had to forclose, and they were screwed for years

@manubhatt3

2 жыл бұрын

@@btuesday But how could they try to sell a property on which they owe a loan? Doesn't the property serves as a security/collateral?

"what's the greatest 'I'm dead and I know it' scene in cinematic history?" "I have five houses... and a condo"

This is what I call research!

My favorite scene. "So is Morgan recruiting us?" Lmao

The look on Baums face when the guy explains what a NINJA loan is. He cant believe what hes hearing. The sheer, reckless, predatory lending and nobody has a clue whats happening.

@kunou4527

2 жыл бұрын

NINA loans still exist and are all over the place in Orange County, California. They're just considered investments to be rented out, so as long as you aren't living in it they will give you the loan.

Can you introduce us? YHESSSSSSS YHESSSSSSSSSS! (drooling at that moment) ... LOL

I remember watching this for the first time and this scene made me realize this was a scarily realisitic horror film that could actually happen to anyone if they don't know what they're getting into

lmao this is where Schmidt became so douchy

I remembered this scene so many times over the years, it is so well done. I even rewatched the movie last night.

I can't wait for the bitcoin movie.

@meinland4439

3 жыл бұрын

More like the entire economic system and the dollar

@tuanha6843

3 жыл бұрын

Except in this analogy Bitcoin is the guy calling BS, and Wall Street is the one falling apart LOL

@CommonSenz

3 жыл бұрын

@@tuanha6843 BTC is the tulip of the 21st century..

@k.byrnmr9402

3 жыл бұрын

I don’t understand bitcoin or much of anything.

@MF-fg3lj

2 жыл бұрын

bitcoin is the biggest scam ever

This movie is so legendary. Should be shown in schools.

@hathawaydj1

2 жыл бұрын

I'm doing my part, sir.

@Davi-D1

2 жыл бұрын

No no . The banks never would allow that instead they are pumping.

@Adam-mj5hl

3 ай бұрын

Maybe in colleges. Not sure most high schoolers would be able wrap their heads around the concept of a mortgage backed security or a collateralized debt obligation.

This movies script is as good and quotable as the Departed

@cine.musique

2 жыл бұрын

the departed is a remake thats even better, but yes its still good

Amazing movie. So well made, and so many great actors.

Crazy aka «i think your crazy, i think your crazy» loudly playing in the background of this scene is just an amazing touch

Celo green "crazy" in the background definitely not by chance.

Man this movie gives me chills I love it

I like how he says “fucking idiots” and the brokers have no idea they are saying that about the brokers, not their clients”

I like how she distinguishes between the houses and condo. 😂

It's kindof fun to watch the FrontPoint clips as Michael Scott finally grown up and he became a disillusioned hedge fund manager after leaving his gang from Dunder Mifflin

My house is just over $640K and it's not a freaking mansion like these. But it's not a bubble? Skepticism increases...

@Vanity0666

7 ай бұрын

The dollar is worth less than it used to be back in 2008, in case you were unaware somehow My house was $20,000 brand new, it was also built and bought in 1971

Secret secret are fun..secret can hurt someone.

@ethanmascarenhas7233

3 жыл бұрын

hahah damn!! well hello there, Michael Scott fan!

@fryncyaryorvjink2140

3 жыл бұрын

And here is a check for science, make sure you get that into the right hands

“Hey there is a bubble” hahahahaha

Hey there is a bubble. How do you know? Trust me...

Ahh Stacy, I’m glad to see you went back and got your degree

oh that moment.... i just love it!!

@k.byrnmr9402

3 жыл бұрын

5:06

The Big Short and An Inside Job should be required viewing for any early Economics classes.

@okgo620

Жыл бұрын

Margin call as well.

@javiermanzano1491

Жыл бұрын

@@okgo620 Margin call is a really bad movie in economic concepts

This is such a good movie

@dragonore2009

2 жыл бұрын

Yeah it's a good movie, it's sad they didn't focus on the number one cause of the crash, the government, but instead focused on wallstreet who could of only did what they did because of government.

@thewhitefalcon8539

Жыл бұрын

@@dragonore2009 so you're complaining the government didn't stop private citizens from doing what they wanted? Why do you hate freedom?

@dragonore2009

Жыл бұрын

@@thewhitefalcon8539 What? That isn't my position at all. I'm saying the government was the reason for the crash not Capitalism. Mortgage companies were qualifying "subprime" borrowers off of teaser rates and selling the mortgages to big banks who profit off the debt so long as the borrower keeps paying. What you hear from the Bernie Sanders crowds is that wallstreet made irresponsible loans because the federal Community Reinvestment Act (CRA) essentially forced the lenders to make these loans to secondary borrowers or "subprime" borrowers. Banks had to reach a certain thereshold in low income urban borrowers who were risky. These loans would of NEVER happened if not FORCED by the government. The next error on government is Freddie and Fanny which are government entities in the housing market that bought up these and other loans by the banks because Freddie and Fanny have what is perceived as the "implicit guarantee." Wallstreet had something profitable here, they can make these loans sell them to Freddie or Fanny profit off of them, and Freddie and Fanny were willing to buy them because the government wanted to show they were promoting home ownership in urban communities and subprime borrowers. Again, in a rational free market, this would NEVER HAPPEN absent goverment because a bank is NOT going to loan out money if it feels it won't be paid back, but since they can simply package the loans and Freddie and Fanny will buy them, why not make the bad loans, you profit whether or not the borrower is good to pay you back. If you are a bank who has good lending standards back then, you were indirectly PUNISHED by the government, because if you don't make those loans to these unqualified borrowers in real life, another bank will, and as a result you lose money. This is what we call in economics a "moral hazard" (yes that is an actual economic term) caused by the government.

@dragonore2009

Жыл бұрын

@@thewhitefalcon8539 What angers me about this movie, is they paint the Bernie Sanders bulls*** story that people believe. Y'know the story, we here from the clueless Bernie Bros, that "wallstreet made bad loans, and caused the collapse", when that is only partially true. Wallstreet could only have done, what they did BECAUSE of the enabling the government did, of which I explained in my above comment. F**** Bernie Bros.

@thewhitefalcon8539

Жыл бұрын

@@dragonore2009 Did the government force Wall Street to make bad loans?

5:03 and a condo So this is where Michael Scott got the idea

@0909umcia

3 жыл бұрын

"there are two kinds of people, those who own houses and those who own condos". 😂

Love the real estate positivity in everything....itsy bitsy about the big ass pre-subprime mortgage crash. Every home is for sale or foreclosure on that block. Lust is rose colored glasses but Greed is a dark green tint and you only a dollar sign.

Tf is she doing with 5 houses and a condo

@TheZenosGaming

3 жыл бұрын

Renting them, but if a stripper can get loans for that many houses then there is obviously something wrong lol

@nolansrecovery1975

3 жыл бұрын

For sex

@joulupukki1607

3 жыл бұрын

@@TheZenosGaming or she a goddamn good stripper😎

@JETZcorp

3 жыл бұрын

Houses were going up and everyone said they would go up forever. She was trying to (and succeeding at) leveraging her stripping earnings into a very profitable little real estate empire. In the Big Short book, there are several people such as a nanny and an immigrant strawberry picker, who are allowed to borrow to buy homes, and then borrow against that home in order to buy a 2nd, etc. They were all buying rapidly-appreciating assets, so both the borrower AND the lender thought they couldn't lose. Worst case scenario the house gets sold at a profit. Of course the reality was worse than worst-case, because once the value of the houses went down, EVERYONE was upside-down on the deal.

@MrHEC381991

3 жыл бұрын

For filming porn probably.

Ah living in Australia Waiting for the shit to hit the fan

September 2021 anyone?

This is the breast scene in the whole movie!

@mygoogle1594

2 жыл бұрын

Positively Titillating.

Baum is a type of person who go to a strip club and ask stripper about subprime loan.

@thewhitefalcon8539

Жыл бұрын

Where else are ya gonna find a stripper? Genius actually. There's no law that says you can't do that. What's real weird is she's still dancing while talking about subprime loans

The pivotal scene

"neither one is working right now."

"I DECLARE BANKRUPTCY"

I view this as like an Stock Market version of the Chernobyl event

"You own a boat" 👁👁

The realisation after the stripper tells him of 5 houses and a condo ... it's is absolutely gut wrenching

@chukuemekaoje1015

Жыл бұрын

It's not just that. It's that AND the fact that he's realized that she has at least TWO mortgages on each of those properties.

@jenjones90

Жыл бұрын

@@chukuemekaoje1015 and the fact that she'll be out of a job if there's a recession

@crazydavec3861

Жыл бұрын

This scene is also funny to me - we know what ... I'll say "erotic dancers" are all about, all that gyrating and whatnot, we know what it's for, we know what guys step into that room for. He's, if anything, mildly irritated by all of that and talking about finance - an atypical customer I guess you might say! 😁

Love at the end when you see these two guys at the job centre..

@paxpacis2

2 жыл бұрын

Most unrealistic scene in the entire movie just for viewer satisfaction. Truth is these guys already pocketed all their money

@Deenus-eg7yu

2 жыл бұрын

@@paxpacis2 OMG of course they’d be in there.. they’d need a job DUR BRAIN!!

@fairtreatment2618

2 жыл бұрын

@@paxpacis2 you really are crazy ignorant. They lived way above their means. God are people really this dumb they don’t get it? Apparently you are

Those broker dudes were cool! 😎

The situation in 2022 is the same. I see everyone around me working low paying jobs as assistants making 60-80k a year, and they own 5 houses in California worth 6-8M. But now they are not speculating on the prices of homes to go up. Now they put tenants and charge them crazy amount of rent so they can cover the monthly mortgage payment with the money. As interests go up, rents go up. Not sure yet how will this end up, I don't have a crystal ball..

@CubeBizz

Жыл бұрын

house prices will crash it's obvious

@FastProProductions

Жыл бұрын

Use a Magic 8 ball they work as good as that clown Kramer

I love this movie. It's so perfectly done. People were so ignorant of what they were actually getting into...and the American public got fucked in the end

Call Vennet and make the deal. Are you sure? Yeah it's time to call bullshit. On what? Every effing thing! Lol hahahah 😂

2:46 “Do these people have any idea what they’re buying?” Ok, now let’s do ETFs.

Can you introduce us? YUS!

Is this the neighbourhood where Michael Scott thought he saw Johnny Depp?

The casting of Max Greenfield and whoever that other guy is basically made this film lol

I made the right choice going personal finance and accounting majors. Phew, too bad we are running into another one soon, people never learned from 2008.

@TykeMison_

3 жыл бұрын

Yeah the amount of new houses built, and houses bought and sold during a 30+% unemployment and lockdown situation is mind blowing. I won't be left footing the bill, and whoever tries to make me pay for the mistake is going to get hurt.

@mattlane2282

3 жыл бұрын

Learned what? Do it again cause they were bailed out or people just trying to make it by?

@minicc26

3 жыл бұрын

So you'd say we are in a bubble dont recomend buying a house now yea. Just wondering bc I dont know anything about this 😓

@artvandalay2120

3 жыл бұрын

@@minicc26 don't by one unless you can't get a fixed rate, and can pay for it.

@saininj

3 жыл бұрын

Welp, looks like I better get conformable with my family. Won't be buying a home anytime soon.

3:50 What is the song behind????

@weyland.capital

3 жыл бұрын

Kelis - Milkshake kzread.info/dash/bejne/aHWruq2Dn66wqpc.html

I just leave the income section blank if I want.

"Is Morgan Stanley recruiting us?" :D oooooooooh NO.

5:15 omg they called Kendall Roy

The market is in an itsybitsy little gully right now. Like everybody said: "OK, that was crazy, let's just all calm down!"

... and he hasn't even realized one of them is a literal vampire. if you get that I love you

@genevievepuyat5587

10 ай бұрын

Midnight mass!

Which song is playing in the background in the pub? Anybody?

@abhishekn4448

2 жыл бұрын

@@thedoctor401 thanks man

What I know about real estate is that, you better rent a cheap house that nobody want to live in and save money to buy your own house with cash than taking a credit.

@Mawyou

2 жыл бұрын

Buy a house with cash? How long you planning on saving. Considering most mortgages last 30 years, seems like it would take you at least 10-15 years just save up enough to buy in cash. Not to mention the house will be smaller since you won't be able to afford as much. And all that money you are saving up in cash is money that's not working for you by being invested in a 401k.

Hold gme

@izzad777

3 жыл бұрын

The people that got screwed potrayed here turned the tables back to wallstreet in 2021. Sweet.

@Longspout15

3 жыл бұрын

How’s that going exactly

@calarencrow7480

3 жыл бұрын

Short GME

@YMB2223

3 жыл бұрын

@@izzad777 These people didn't exactly get screwed, their own gluttony and foolishness caused them to take out stupid loans. The people who got screwed here were the regular American people affected by the economic downturn who didn't make poor decisions, and the hedge funds didn't exactly cause that, it was the big banks and slimy salesmen like those two guys in this scene.

Damn, why couldn't this happen today, we'd all be flipping million dollar houses and banking the profits lol

"Only in VIP"

Mike sitting as he is, in with the stripper is hilarious. I bet she never met a client like this before. LOLOLOL. Mike: "Do you always do adjustables?" Girl, "You can touch me if you want" Mike "ALWAYS?" Girl, "only in the VIP" Mike, "No no no, you said you always do adjustables?" "Can you stop moving, anymore? I will still pay you" HAHAHAHAHA

Crypto currency owners = “Wow, a lot of people seem very motivated!”

@owenrees7544

Жыл бұрын

Hey, there's a bubble!!

So this is what Micheal Scott was doing after leaving Scranton. He always wanted to be in a witness protection program.

2022 - "it's a bubble"

Right now it will be a repeat market

I'm surprised these guys didn't make more $ betting against the housing market

Just invest in paper companies!

I remember seeing a sign in front of a Bank of America branch touting no need to prove citizenship to get a home loan. All those poor people my tookas. Everyone knew they were getting something for nothing, and they went for it.

I am watching this clip on youtube ?

replace all dialogue with talk about zoom, docu, pton, and apple having this great services business.

@jettisone

3 жыл бұрын

Exactly

@nactd

3 жыл бұрын

There is one there that isn't like the rest. Like not even close bud.

@dahobachir74

3 жыл бұрын

Apple does not belong to this group

@idobackflipz

3 жыл бұрын

Probably typed this comment using an iPhone lmao

@Mel16450

2 жыл бұрын

Berkshire is the biggest bubble of all time... lol out dated

3:56 what's this musique plus

@weyland.capital

2 жыл бұрын

Kelis - Milkshake kzread.info/dash/bejne/aHWruq2Dn66wqpc.html

4:12

@PantomimeHorse

3 жыл бұрын

Dude... you're _on the internet_ - Is that really what you wanna take away from this scene?

Time to call BS

My milkshake brings all the bDo ya like Huey Lewis and the news?

4:12 Hmmm that chest

Casey's Neistat Tweet going to blow up this video.

Some one once mentioned that the strippers were more closely monitored than the banks.

The can was kicked down the road.