oh, ready knows? come to take, talk with them about hackers and paralyzed entire societies. computers that of some are you and governments that go crazy for your data. we explain how these technologies work, how they can make our wilson for. and that's how they can also go terribly. what you know you tube ah ah ah. the drama that's had some of the world's biggest banks in recent weeks can be downright frightening for anyone's growing. the latest headlines. how many share

prices? anxious depositors emergency bailouts. it's also eerily familiar. after all, did we go through this before and did we not learn anything the last time the banks failed about bailout serb system relevance? well, in this up sort of made, we're taking a closer look at the current banking crisis. it's certainly not the 1st and likely won't be the last to hit lenders, banking trouble, it turns out is as old as the banks themselves. check this out. one of the 1st known crises occurred in 371, b. c. in athens. when thieves reasserted its dominance over greece in the battle of like tra, find athenians pulled their money from lenders, who in turn lost everything. classic bank run. fast forward to the 18th century, were speculation triggered several panics. in london, the so called south sea bubble in paris, the mississippi bubble. then, in 1857 panic on wall street toppled the seamen savings bank. and after the financial crisis of 1931, germany's darmstadt

o nazi now bank closed its doors. 2 years later, the u. s. t launched the new banking act with a somewhat novel idea. perhaps banks should maintain sufficient deposits to cover their loans. oh, it's a global banking earthquake in the us. several regional banks have to be liquidated and credit suisse. one of the largest banks in the world could only be saved with the help of a $1000000000.00 package. what's going on? is this the 2000, the banking crisis all over again? oh, it started with silicon valley bank in the u. s. as more and more customers began to withdraw funds, the bank plunged into chaos. shortly thereafter, something similar happened at signature and 1st republic bank. one reason the banks had invested customer funds in long term u. s. government bonds, a traditionally safe bet. but after the federal reserve raised interest rate,

these bonds lost the market value. an increasing number of customers got nervous and withdrew their funds from the bank. this forced banks to sell off some of the government bonds and a considerable loss to get more cash. this created a vicious circle when the losses could no longer be absorbed. small banks got into trouble, but the u. s. banking system, as a whole, remained stable small banks. you can let fail. if they don't perform, if they have difficulties, they're simply closed out. and investors lose money, so investors themselves, i have an important regulatory and supervisory function to make sure that when bank is doing the right thing, of these big banks is different. oh, just a few days later in switzerland, a model. budgetary management, in finance. the swiss was on the brink of collapse. it had been one of the 30

systemically important banks in the world at the government's insistence, u b. s. another swiss bank took over credit suisse as the crisis threatened to pull down the international banking system along with it. the year before, customers had already withdrawn the equivalent of 111000000000 euros in assets from credit suisse. this was on top of additional losses caused by investment banking and the years of mismanagement. cause is not the confidence that would be the trigger of the, the crisis at credit suisse because lies in the, the, the balance sheet and the decisions back of his overpass pennies. but haven't enough safeguards been put in place since the last financial crisis to prevent the collapse of major banks. and what were they? the european central bank controls the banks within the euro zone, along with each country's financial supervisory authorities. every year they

examine how the banks managed the lending and investment of customer funds. the banks must remain solvent even if higher cash outflows occur, and they have to hold back cash reserves of 100000 euros per customer as deposit insurance. additionally, the banks need an equity ratio of 10.5 to 13 percent to ensure they can settled their liabilities at any time. and the so called banking decree, every institution must be able to demonstrate how specific business areas or the entire bank can be wound down without burdening the taxpayer. authorities can issue and withdraw banking licenses or impose sanctions based on how bank said here to these regulations. all this is meant to prevent a repeat of the 2008 banking crisis. but unlike then, we are dealing with high inflation today. ah, central banks, including the european central bank,

are being forced to raise interest rates to fight inflation. this has reinvigorating the lending business of many banks, but if one gets into trouble, pitch and no longer acts as cheap money from the e. c. b, in the 20072009 crisis. i markets and experts got used to this idea that central banks are really doing whatever it takes to also help the financial system. the biggest difference between then and now is that we're having an inflation issue and that central banks are no longer able to play this unconditional lender of last resort for everything. it still seems as if another global banking crisis can be avoided. but ultimately it's about trust in the stability of the financial market. and as the world has seen before, that can be shaken all too easily. the last big

banking crisis in 2008 began with the u. s. housing market, a long period of low interest rates lay the groundwork for an explosion in home loans in particular to 1st time buyers. many of those mortgages were back had back in interest rate hikes or perhaps were made to people who couldn't afford them. unfortunately, wall street, i got a taste for that debt action, complicated securities out of those shoddy mortgages, and then selling them onward to investors, which encourage lenders to keep supplying the loans. when the bubble finally burst it hit everyone. homeowners lost their homes, bank stop lending, and investors found themselves saddled with worthless assets. financial system froze. 15 years later, the scars from that crisis are still visible in the current economy. but the dream of owning a home hasn't gone away. and that presents a very modern challenge, at least we think about climate. our next piece looks at the environmental and social impacts of the modern house. and why exactly? we're so geared to one our own space and lots of it. what do you think of when you

think of the house? is it a safe space and room to breathe or suburban nightmare? in many places across the world, only your own home is the ultimate sign that you've made it. these carbon intensive boxes can be pretty inefficient and encourage car use. there draining many cities of affordable housing and exacerbating equality. we've got so many houses that it's using up precious land. how did it happen in the span of a single generation? what can be done to reverse what time and reserve the land? so let's take a look at where the june to have a house even comes from. are we able to shape or desires differently, or is the solution to build better and make more out of what we've got? before we jump in, what is a single family house? generally speaking, we're talking about a detached house on its own piece of land that doesn't share walls, utilities, or entrances with any other residences. in the us,

the post world war 2 period made the house with a yard and a white picket fence and attainable middle class fantasy. millions of veterans had come home from the war and the government guarantee generous loans for white families to settle into newly constructed houses. outside city centers, almost overnight, suburbia was born. a half 1000000 homes sprang up around the country in 1946, nearly a 1000000 and 1947. but wait, housing boom, for whom? the government guaranteed generous loans for white families. it was white families who settled in the suburbs which led other white families to also leave city centers. some of that anti urban i'm kind of instinct on was actually tied to the, you know, beat out the tail end of the great migration and movement of african americans from the south into central cities. this is dr. harley h n, a professor of urban planning. underneath all of this is all sitting on

a bedrock of i'm unspoken, racism not wanting to move to the center of cities that created a really particular vicious cycle disinvestment in cities. but then, you know, investment in suburbs and expansion in december, this exodus of white people into suburbs was eventually dubbed white flight. and since public services are largely funded through property taxes deprived inner city communities of funding and social services. elsewhere at the end of the 2nd world war, a marked independence for many countries in the global south. and a lot of those places modernize their cities based on western examples. even in places like thailand, which wasn't directly colonized the west, was still a benchmark for aspiration in modesty found today i tried the pattern, sy, how is a data but a mother generally a is associate of 2 research focuses on housing in thailand. like my how are

in which oh yeah, well, actually hired and thus the single family house became a global trademark for wealth and belonging of the 140000000 housing units in the united states. roughly 85000000 are single family homes in croatia, almost 70 percent of the population was detached houses the highest percentage in europe. these numbers are terrifying for the planet construction alone amidst tons of c o. 2 from the raw materials themselves to the transport as well as energy needed on site. studies have shown that building a single family house and it's roughly $385.00 kilos of c o. 2 per square meter. that's like 10 round trip ticket from new york to savannah, just for my living room. just to give you an idea, residential energy use accounts for roughly 20 percent of greenhouse gas emissions in the us. some studies say that multi family household use up to 47 percent less

energy than a single family home. there are lots of parts of the us where to just leave the house to get a quart of milk. could involve a 5 mile drive, could about a 10 mile drive, many communities and jurisdictions, you know, don't built sidewalk, you know towards that there. toward some divisions within them. why not reason why traffic jam and people still need your car be here like working area. probably not to mention the carbon footprint of all the things you need to put in the house and the equipment to maintain along the garden, the landscaping and the driveway. did you know that a lot more and it's as much emissions as a car. but really, the list of damage goes on production of arable land and bio diversity because of land use. and worst of all social inequality, does it make sense for a single person to live in 5000 square feet?

when so many people live, so much less you think about kind of death, housing and manila are in english. so why is it so hard to change the status quo? well, for starters, housing is deeply political. zoning is the set of laws and urban planning that dictate how it can be used and what can be about where and who makes those laws. politicians in many american cities, it's actually illegal to build anything other than single family homes in certain places. in san jose, california, for example, 94 percent of residential land is zone for single family houses in los angeles. it's 75 percent. almost half of jakarta still zoned for low rise buildings. the majority of which are single family homes. most of bangkok was zoned in a way that pushed housing to the outskirts of the city. i just want to come all until recently to mass health and the lady it please. okay. people, you know,

how do you out of my head in the u. s. the government and banks shaped cities by excluding non why populations from mortgages in a practice called red lining, which persists to this day. red lining up basically says will will guarantee mortgages in certain areas based on who's there. basically if the air is pred only african american, and then we're going to rate this neighborhood and we're going to downgrade and concert, read and not guarantee mortgages here, but then, and others were obeyed without the population, but only white they would guarantee the mortgages. similar, exclusionary zoning already existed in cities like you, horsberg, dhaka, and jakarta. as legacies of colonialism, crating, slums and siloed neighborhoods, bad zoning often creates housing scarcity, which today is pushing city runs to unaffordable rates over the world. so fixing zoning laws would be huge, step towards more equitable housing, minneapolis, minnesota, got rid of single family zoning in 2018, for example. and san francisco is also planning on it. but we can't just blame zone in full stop. a lot of cleaner say what's needed is to build out the missing middle

. this means other types of single family housing structures like duplexes and town houses that support walkable communities with local retail and public transportation. as every planner will tell you, housing is about so much more than just houses. is about improving public transportation, investing in schools, and developing under used urban areas to increase density. we also, examiner consumerism, and actually confront systems of oppression that sustained the interests of those in power at the cost of the marginalized if you could take social difference and you know, in just out of the equation, it would be a lot easier to reach consensus on what we have to do, the city state of singapore, which was a british colony for a 144 years, is often counted as a golden child of urban planning. over 80 percent of the population lives in mostly vertical public housing, with decentralized neighborhoods designed for pedestrians and supported by mass

transit. if you want to buy a car, you have to pay some huge taxes so that discourage is auto ownership. but singapore is a small city state island. the government owns 90 percent of its lands and all these measures happens because of rigid state regulation. every place has its own particular history and culture, geography and demographics. so what makes a good house is a really relative definition, and one that's always evolving no matter what the house looks like, it will almost certainly need heating. and that's another wrinkle when it comes to climate and affordability. traditional furnaces are boilers are often inefficient and they can be expensive if they run on more expensive fuels. enter the heat pop, more efficient system that runs on electricity, ideally from renewable sources, and is increasingly subsidized by local governments. but the heat pump is no silver bullet. let's take a look. bar heat pumps the cure,

all they seem to be. interest in heat pumps is growing as people look for cheaper alternatives to oil and gas for heating their homes. but they make sense for other reasons to the pump, some more environmentally friendly because they extract natural heat from the air ground or water. heat pumps work by transferring the free extracted heat via an exchanger using refrigerant because the refrigerant has a very low boiling point. it evaporates in the process. this viper is then highly condensed in a compressor which is the actual heat pump in another heat exchanger the thermal energy of the heated steam is then transferred to the radiator. it heats up often not as fast and hot as usual, but enough. not so great for people who really feel the cold. but he is the catch operating this type of system can require the same amount of electricity as an

entire household. if the system is not properly configured, determining buildings exact heat requirements is particularly difficult in old buildings due to unsealed windows, outdated, building materials and so on. if the heat pump is too big or too small, the electricity costs can even exceed gas or oil prices as collect tricity is also becoming more expensive. systems that use air can sometimes also be very noisy and disturb both neighbors and the owner. installing them isn't cheap either. it can easily cost around $25000.00 euros, but they can pay for themselves after just a few years. some countries, like germany also offer subsidies. another problem is finding people who know how to properly install them there and enough skilled workers to meet the increased

demand. heating with heat pumps can be a sensible acre friendly option, but it's no cure all or i just like everything in life, no single cure all. all just building a house in the 1st place means finding enough space for it. that's already a challenge in many develop nations where lots can be expensive and quite hard to come by. then there's the environmental impact we mentioned earlier. green space is becoming more important than ever at the moment. could tiny houses be a solution? or a porter took a look. ah, a big trip for a small house, a tiny house. it's being set up in hanover, in northern germany, in the backyard of a municipal housing association apartment building, transportation cost, $10000.00 euros. it was produced in estonia so far, 4 of them have been set up here. the price, 80000 euros banker, danielle vice lives in one of them. on a fiscal set,

i actually feel more comfortable in smaller spaces on and i find that here i am more of a city person. if i can, the problem was that there were no projects like this in the city. i've got a mini washing machine and 30 square meters of space. every centimeter of which is used refined minimalism. the rush for this apartment was huge. 150 people applied for it. daniel vice even had to give a powerpoint presentation. then he was selected. what minded both of them, what i think the cat's also probably played a role lifting the legacy of housing is scarce. all over germany, i'm a need to talk a little you have the expensive real estate prices and then high interest rates. if even governors now have a hard time affording a house in the current situation, hospitalized for

a long time working people could afford single family homes like these. but they are now in short, supply and expensive. prices have doubled in the last 10 years. 400000 euros and more for carpenter with tuba and his partner. it was a gap in the market. the build tiny houses when they're finished, they drive them down. the outer bound to customers. tiny house settlements are springing up all over germany. carpenters of tuba and diana rent is also live in one of these settlements. but for the most part, local authorities only allow tiny houses on campsite. the reason many town councils are reluctant to recognize this new type of construction as a house and don't allow them. this annoys owners who want to be given equal rights . mental kindness. how'd such a small house, emma? it should always work. lot of reading. whether it's on wheels or not,

the guy doesn't matter. one of the lot we build them with or without wheels. why do we insist on keeping this village like character, specifying red roofs or green rooms, or whatever it is? complete nonsense selling of goods. right next door is, is significant. others tiny house. she was his 1st customer. and today they are a couple and even neighbors. each with their own tiny house and so i think it's nice that you can be together if you want to be and you can also close the door and say a k to night. i'll be at my house for the evening. there is an apartment shortage, newly everywhere in germany. last year alone, more than 1000000 refugees came to the country and that's putting more pressure on the housing market. at the same time, it's pushing up orders for tiny houses, like here at a company in eastern germany company boss, mario doggies has 6 houses in production,

4 of which are intended for refugee families, some of more for the vendor. boyd on misty guns and click on a little intentional plus or that one goes to nice, not in holstein. there are still 4 here and they will stay together. but either they'll be used by ukrainian refugees for the time being. and when that's over and the refugees go home again, then i think they'll be used by vacationers thing as well. that all of all good. nordstrom here in northern germany. tiny houses for ukrainian refugees are already in use here. refugees have just moved in the head of the local social services agency is taking care of the refugee families. a translation app helps with communication. i have enrolled my son in school and he liked said that that is with soon as the situation is tensile bear hardly any apartments left on the open market. we have bought these houses for a good reason. on the other hand that we can't buy

a new house for every refugee health, and that will work the only she's lucky, even though there are 4 of them living in this brand new tiny house. there's one bed room for her son and sister in law. another for the parents, the municipality paid $90000.00 euros for it. yon a pleasure had to leave her small farm in ukraine. her son came with her and so did her husband. she worked as a cultural manager and they lived in a village near murray, you po, russian gunfire was getting closer and the russian military administration controlled the area as a doubly had a good life. when i written, we had no idea how happy and rich we were until february 24th 2022. when the war came to our town office. the 1st thing we saw were collins of russian military vehicles and soldiers with machine guns. we were very afraid of the martha,

my boy thought we were taking cover in the basement with children. molly, together with little children from the neighbourhood, we wasted and we took over. her new home is small, but nice young a pleasure. can imagine living here for quite a while, but one day she would like to go back to ukraine and who knows what kind of house shall one day build there. and with that hopeful thought will in this week show, which has been focus a lot on crises, the banking crisis, climate crisis, the housing crisis. you can learn more about all of these topics online, d, w dot com slash business. we're also on youtube under the dw channel. i'm steven beardsley. and we look forward to seeing you next talk right here on mate. take

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ah ah, china's ought to conditions are about far more than science, raw materials and trade. the arctic is on strategic importance for the middle kingdom. in this an attempt at

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