It’s amazing the flowering of data visualization projects – and how well they sometimes bring to life abstract issues.
Here is a beautiful little project, which helps you understand the scale of the financial woes brought on by the subprime mortgage troubles in the US. It’s a complex problem with all sorts of reasons and ramifications, but the simplest explanation is this: in the past decade, banks have been falling over themselves to give out loans to really, really bad credit risks. This means that lots of money that’s gone out in loans isn’t coming back. Which means banks are going to start to fail.
You can see this by asking: how many loan repayments are more than 90 days late? And you could split that out among various banks, and track it over the period from 2002-2007, and see not just how many, but the value of those overdue payments. And if you did that, you’d get this:
If you made that graph into a little movie over time, you’d be in good shape. Which is what and still i persist has done.
PS time to dump your shares of Wells Fargo, I’d say.
[thanks, as always, to infosthetics]