Ali Velshi gives an economics lesson.

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Ali says a mortgage meltdown is primarily responsible for the economic trouble. The cycle started with regular Americans who were unable to afford their mortgage interest rates. As a result, banks foreclosed their homes. Eventually, the effects of the home foreclosures reached a global scale, causing a financial collapse. "We are very powerful people, because we caused this," Ali says. 

Watch Ali's step-by-step lesson in the mortgage crisis. Watch