Why can’t people hold onto money? Broke focuses on the stories of athletes, but the lessons on healthy money habits translate across many scenarios. We’ve all heard the stories of people who won the lottery, inherited a large sum of money, or became rich and famous - and ended up broke. It’s useful for you to know this when the next bust comes, because as explained in the film, there will be another. This documentary, which features a cast of strange puppets in addition to the variety of economics experts, explains why capitalist economics always have booms and busts - and more importantly, tries to explain why we can’t seem to avoid the busts. It makes you wonder if there were people watching and warning other economic crashes, and nobody listened. Really smart people saw the pending economic crash, and nobody believed them. What was an eye opener in this film is how much the optimism bias is a reality.
The Big Short is actually a film, not a documentary, but the accuracy of its reporting of the historic events that led to the 2007 banking crisis has an A- rating from the Guardian, which is good enough for me.
I thought I’d share some of the ones I’ve enjoyed recently that you might want to check out. Specifically, my obsession of late is the treasure trove of documentaries on Netflix – there are so many! While they can be hit or miss, there are a number regarding money, economics, and personal finance. I’m starting to think my Netflix is going to have a “ Because your life is Netflix….” (Only half kidding.) Netflix can be a real wormhole – watch one film that you like, and all of a sudden you find yourself hours later still watching the recommendations, which just keep coming.
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