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Awesome Bankers?

2011-09-27 · John · watch on YouTube · Economics · explainer learning

Lower-confidence wave

2011 videos did not pass the QA gate (17 %); their analysis is shown but less reliable.

John uses a made-up poster business to explain how credit crunches choke job-creating loans, worries one is coming, and argues that through Kiva Nerdfighters can be bankers who reduce world suck by lending to developing-world entrepreneurs.

What is said

00:00:00 — Greeting; plan to talk about credit crunches and better banking; 'baking' slip; made-up Keep Calm and DFTBA poster business: jobs depending on it, needing a $100 bank loan, repaying it

  • ★★★ John says he will explain credit crunches, why they are so evil, and how Nerdfighteria could dramatically decrease world suck by becoming better bankers. — 00:00:00 · Nerdfighteria, world suck
  • ★★ Using a made-up business selling 'keep calm and DFTBA' posters, John argues a successful business idea partly supports many people's jobs (designer, paper makers, printers, shippers), as with almost every good and service. (hedged) — 00:00:29
  • ★★ In the example, John has no spare money, borrows $100 from a bank to print posters, sells them, repays with interest, and after living costs needs another $100 loan to keep going. (hypothetical) — 00:00:58

00:01:27 — The bank refuses a second loan in a credit crunch; banks hold deposits against bank runs, leaving capital uninvested; John worries a credit crunch is coming

  • ★★★ John explains that in a credit crunch banks stop lending because, in economic panic, they must hold a much larger share of deposits to prevent bank runs, so capital that could fund job-creating ideas sits idle. — 00:01:27
  • ★★ John says he is pretty worried a credit crunch is coming. (hedged) — 00:01:27

00:01:56 — Developing-world entrepreneurs depend on low-interest loans; Kiva.org lets anyone be their banker (98.5% repayment); John's own idle $913 relent; Kiva Nerdfighters group past $33,000; ask to join and lend; bankers can reduce world suck

  • ★★★ John worries most for the hundreds of millions of people who emerged from poverty in the last 40 years, since developing-world entrepreneurs depend much more on low-interest loans (taxi parts, farm animals, cosmetics, restaurant food). — 00:01:56 · extreme poverty
  • ★★★ John presents Kiva.org as letting anyone be a banker for developing-world entrepreneurs they choose, with a 98.5% chance of repayment; lenders can relend or withdraw, and earn no interest (as with banks these days). — 00:02:26 · Kiva, microfinance
  • ★★ John has lent through Kiva since 2007 with a 100% payback rate, but found $913 he was not lending, says he had become the scared banker, and re-lent it to entrepreneurs. — 00:02:26 · Kiva
  • ★★ John has joined the Kiva Nerdfighters group, which has loaned more than $33,000. — 00:02:55 · Bank of Nerdfighteria, Nerdfighteria
  • ★★★ John encourages Nerdfighters to check out and join the Kiva.org Nerdfighter group and lend, from as little as $25, saying they can do even better. — 00:02:55 · Bank of Nerdfighteria, Kiva, Nerdfighteria
  • ★★★ John concludes that bankers can reduce world suck and that we can be bankers, facilitating sustainable economic growth in the developing world. — 00:02:55 · world suck, microfinance

00:03:24 — Sign-off; PS: the Keep Calm and DFTBA posters are really for sale at DFTBA.com

  • ★★ In a PS John says the Keep Calm and DFTBA posters are not just a rhetorical gambit but actually for sale at DFTBA.com. — 00:03:24 · DFTBA Records

Humor (significant)

  • John says he is bad at baking, then asks whether he said baking or banking. — 00:00:00 > «I don't know, I'm bad at both.»
  • John explains his money problem: he has a baby, and his money becomes food. — 00:00:29 > «Essentially, all my money is getting pooped out»
  • The bank refuses the ruggedly handsome poster guy a second loan. — 00:01:27 > «Do I need to unbutton a button for you?»
  • John says the most exciting part of Kiva is getting to be an awesome banker. — 00:02:55 > «There's a phrase you don't hear much anymore.»

Threads in this video

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