A classic digital short from Saturday Night Live.

“Well, let’s say I don’t have enough money to buy something, should I buy it anyway?”

“No.”

Simple and straightforward to follow. We may not all be in debt because of buying ‘stuff’, but we surely don’t need to buy more when we don’t have the money. I’m guilty of this.

[Via Smarty Pig]

Comedian Louis C.K., on Late Night with Conan O’Brien, discussing how things have changed during his lifetime:

And then, if you wanted money you had to go in the bank for… when it was open for, like, three hours… you had to stand in line, write yourself a check like an idiot, and then, when you ran out of money, you would just go, “Oh, well, I can’t do anymore things now.”

Now our, “Crappiest generation of spoiled idiots,” just continues to borrow when we’re out of money. I catch myself putting stuff on my credit card all the time because I (1) didn’t get cash out, (2) am waiting for payday, or (3) really can’t afford it at all.

BTW – Can anyone help me find a higher quality, more official link to this clip?

[Via Leo Babauta]

A wonderfully arranged 11 minute animation giving an even broader overview of the credit crisis than the FRONTLINE documentary.

Note: He got slammed with a $6K hosting bill over the weekend due to it’s popularity, so buy a shirt to help him pay the bills.

Update: Embedded the entire video from Vimeo instead of the two-parter from YouTube, for your viewing pleasure.

[Via Daring Fireball]

Excellent overview of how and why the financial meltdown evolved and what was done to try to keep in in check. Very well written and directed as well.

[Via Jason Fried]

Peter Schiff tried to warn us about not only the real estate crash, but also the subsequent Wallstreet crash and credit crunch. Remember Warren Buffett’s words: “[B]e fearful when others are greedy, and be greedy when others are fearful.”

[Via 37signals]