Why Nations Fail? | Economics Explained

[@andrew.alonzo]

Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.

[@hunter-bourke21]

Emotionally-charged decisions to sell off large quantities of stocks or other investments now lock in your losses, removing any chance for future growth.

[@Believer292]

A 2022 Northwestern Mutual study found that 75% of U.S. adults admit their financial planning needs improvement. However, only 29% of Americans work with a financial advisor.

[@james.atkins88]

@@Believer292 Very correct, the bear market has contributed significantly to the growth of my investment. I was able to quickly increase my portfolio from $180K to $472K. Essentially, I was just doing as my financial advisor instructed. You're good to go as long as you get competent assistance.

[@Kim.beneteau]

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[@james.atkins88]

@@Kim.beneteau Big Credits to “Julia Ann Finnicum” she has a web presence, so you can simply search for, there are some others but it might be difficult to get them, but Julia has been a good guide through the year.

[@ndchunter5516]

more than half of my life, there has been some 'crisis' going on that directly or indirectly affected me and im not even in my 30s...im kinda getting tired of this BS

[@neeneko]

The science of how to profit from crisis has gotten so good that now the pro-crisis economic factions can afford real power. People figured out how to make fortunes off change, both positive and negative, so the wilder the swings the richer they get.

[@FictionHubZA]

"If you want to curse a man make him live during interesting times."

[@auraguard0212]

Your parents had a crisis every three years or so.

[@stephenjenkins7971]

No such thing as a generation that didn't face a crisis. Get over it.

[@jobophoto]

Ditto.. I’m 55……😂

[@Adukwulukman859]

Thank you. Just what I needed to watch. My wife and I are directors of our own business and own a few property, plus other income . I am nearly 52, We have started to save to retire perfectly, and possibly live on rental income, I'd really appreciate you talk about how to earn passive income online and retire comfortably

[@ThomasHeintz]

The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

[@esther.74]

Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.

[@talented009]

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[@esther.74]

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[@DarleneMurphy774]

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[@anniezeng4587]

The broad-based Standard & U.S. consumer confidence has sunk to record lows, thanks mainly to inflation. Retail spending, home-building, and manufacturing output all declined and those who drive the U.S. economy, are starting to cut back on discretionary purchases, such as appliances and services. Regardless of our market conditions, however, we should continue to promote savings and smart investments.

[@adenmall7596]

Every person is affected by this directly or indirectly. Taking myself for instance, Investments or stocks still retain their values very much but I'm still at crossroads on deciding if to liquidate my $113k worth of stocks or hold on to them cos I'm scared they might lose value.

[@bsetdays6784]

There are several reasons I have been investing under the counsel of an advisor which are someone who sets asset allocation that fits my tolerance and risk capacity, investment horizon, present and future goals ‘’Eleanor Annette Eckhaus’ has provided all that and I don’t want to go into ROI on a public space.

[@lucianoboccedi]

@@bsetdays6784 There is this podcast i was listening to and it said something venturing within your tolerance and risk capacity, see you mention it again got to me.

[@bsetdays6784]

@@lucianoboccedi What the pandemic showed is that people are a lot more secure if they have an emergency fund and a financial plan; one with a Plan B and Plan C. Also the war in Ukraine are both wake-up calls that stock market crash can happen abruptly in a recession and inflation may rise. Hence, everyone needs a crisis investment plan.

[@evitasmith6218]

Glad to have stumbled on this thread, I promise to give her a look once i get home and settled.

[@greenmario3011]

I'd put it down to two factors acting in combination.
1) The money economy is falling out of sync with real productivity, the thing that causes most economic crises.
2) When something cannot go on forever it won't.

[@jirislavicek9954]

Yes absolutely 👍.
Money printing presses always run faster then production lines in factories 🙈

[@TheRezro]

@@jirislavicek9954 Ironically this affect less those who are accused of doing so.

[@seungheechang6293]

I would like to counter that Korea basically grew under coup de tats and very non democratic governments. I think what is really important is how Korea funded many bright minds to go out to great foreign schools which in turn will help the economy grow as theirnhome country has family and familiarity. Education is key to economic growth.

[@guitarazn90210]

Singapore had authoritarian tendencies as well. The advantage of non democratic governments is they can easily mobilize their population to get educated or work in fields they haven't seen prior. They can even make cultural changes to accelerate their modernization process.

[@auraguard0212]

Korea is a feudal/"fascist" economy, while Singapore is an island of stability in a sea of Malaysia and Indonesia.

[@Jack-he8jv]

@@auraguard0212 singapore, japan, south korea, taiwan are all one party states.
singapore is literally run by a hereditary leadership which is ironic.

[@guitarazn90210]

@@auraguard0212 Singapore is basically a (mostly) benevolent monarchy and I'm not trying to downplay their success. The founder of singapore is easily one of the greatest nation builders of all time.

[@lontongstroong]

@@auraguard0212 Agreed, even during British colonial period and its stint as part of Malaysian Federation, it was already a cosmopolitan and rather prosperous city in the region. Not first-world prosperous like let's say the US in the same period, but still way, way better off than the rest of Southeast Asia. If I'm not mistaken, it constituted almost half of post-independence Malaysia's GDP (till it was kicked out by Tunku Razak) despite having 10% of its total population. That alone should give them considerably better head-start, although having *unusually* good leader like the late Lee Kuan Yew was a huge, huge plus and a luxury everyone else doesn't (or perhaps will never) have.

[@lifeistooshort649]

EE’s full length videos are so much better than his shorts!

[@ashblossomandjoyoussprung.9917]

Well, duh, Pixar full-length movies tend to be better than their shorts, too.

[@Apeiron242]

Shorts suck.

[@sonneh86]

Shorts were introduced to draw audiences from generation TikTok.
I'd say what bother with kids with a 30 second attention span who like vertical videos?

[@Motherofchicken]

@@sonneh86 you can break the cycle, or if your content is entertaining enough, then it doesn’t really matter, they’re like a 4 year old with cocomellon. I personally don’t like tiktok (although you can have some fire memes if you know where to look) because I prefer as much data on a topic as possible, but tiktok does have some pretty good buffs for both companies and content creators

[@lifeistooshort649]

@@ashblossomandjoyoussprung.9917 yeah but I think it’s mainly the lack of an Aussie accent that I don’t like🤣

[@Rochelletrem]

Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.

[@jeffery_Automotive]

To "buy the dip" It will be profitable in the long run. However, investors should be wary of the bull run. It is advisable to connect with a skilled adviser to fulfill your growth objectives and prevent mistakes. High interest rates typically result in lower stock prices.

[@theresahv]

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[@georgebarret]

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[@fusionreactor7179]

Economy grows by 5% every year for 15 years: “This is normal”
Economy grows by -1.2% for one year: THIS IS THE END

[@benjifiji2019]

since the global economy is structured as a ponzi scheme that would be ture, when they run out of other peoples money it all fails

[@xiphoid2011]

yeah, good news doesn't draw attention as much as bad news. Hence the old saying in the news industry "bad news is good news".

[@bappyhasanjahid4985]

​@@xiphoid2011 Golden words mate, golden words

[@marcos-ll2yr]

specially if is China, they said every year that China is Done this not gonna happen co China have more than 2 trillion dollars, a lot of Gold, 29% of the world depends of China in a lot of areas. So this channels just want views.

[@yd1097]

It wasn't normal. 3 decades of exponential growth, a 2 billion increase in population, out of all the centuries humans have existed, these decades certainly haven't been normal. But these economic collapses are about to become the new normal. Covid hit the developing nations where it hurt most, and for some, it really is the end. Unlucky

[@iracouvillion1316]

I’m so glad you picked “why nations fail” to talk about. It’s been one of my favorite book in years

[@Jack-he8jv]

its trash, nations fail because they arent a nation.
a nation is made out of people with pride for their nation, the people and leaders are prideful, that pride is the nation itself.
once a country loses its pride, its over.
thats why all nationalist countries are a menace to the west who seek to dominate the planet.

[@lontongstroong]

That book is imperfect, but it raises very interesting questions that spark a lot of discussions afterwards.

[@jamesgrover2005]

Economist : line goes up 🥳
Workers : life's got shitter 😒
Elite : I've got gold taps in my yacht

[@stephenjenkins7971]

Privileged Western position. Most of the world massively improved in this time frame.

[@jamesgrover2005]

@@stephenjenkins7971 On average, when the largest populations China/India pull 100M's people out of poverty they make the figures look quite good, funny how China is used simultaneously as the bad guy and the good guy in global matters of capitalism.
Meanwhile countries run by a neolibralist ideology (late stage capitalism) are not, indeed some of the richest countries US (40 million in poverty 12.8%) UK - 14.4 million(20%) people were living in poverty in 2021/2022, according to the government's annual 'households below average income'report. This includes 4.2 million children, which is almost one in three (29 per cent), certainly not progressing.
18/12/22 "UK billionaire numbers up by 20% since pandemic" (the guardian)
So yes I'm privileged that I live in the West and not in poverty, but clearly I already knew that, otherwise I wouldn't be highlighting the fact.

[@stephenjenkins7971]

@@jamesgrover2005 China/India are just a part of the general trend; and both were looked on extremely favorably when they were doing it. China only started to lose its luster when people started digging into internal matters; which is always what happens when you become important enough. Get used to that.
China was and still is the ultimate neoliberal country, genius.

[@chrisaycock5965]

Corruption is huge in developing nations as well. Money supply as you went over too is important. Developing nations often borrow a lot of capital either against their own government in the form of printing more cash or bonds or they'll go to other wealthy nations and try to work out a deal. Part of the reason right now things are failing as you stated is that a lot of foreign investment won't see developing nations as a good place to park cash during a downturn as they're more volatile and susceptible to slide very fast if things go up whereas a developed nation has many safeguards in place.

[@ivannaharmoni]

Corruption is a direct result colonialism

[@jonathan2847]

Corruption has its positive too, see China where it allows business to move at a speed that would otherwise be impossible.

[@robertagren9360]

They do it in a larger scale. Bank give money, used to develop the country. Loan ends and collapse, We see this in companies, states are companies with people paying service.

[@erayagdogan3389]

This explains a bit about corruption
ua-cam.com/video/d5mMRsEKLRU/v-deo.html

[@MHKing03]

@@ivannaharmoni Then how do you explain corruption in nations that were never colonized (e.g., Russia, Thailand, Greece, Italy, Iran, Afghanistan, etc.)? Your theory is just an ideology.

[@Croz89]

I think a lot of actions taken during COVID pushed the negative consequences of the pandemic into the future. Governments borrowed a lot of money just to keep their economy from imploding. And it worked, for the most part, but now we're having to face some of those negative consequences. That's affecting developed economies significantly, as we have seen, but their overall resilience means you might have a few protests, even some riots, but the government doesn't collapse. In developing economies there isn't so much resilience.

[@sangle120]

A lot of actions contributed to our current inflation issues- governments handled COVID like it was 2008 but it was a different set of circumstances and needed a different approach.

[@Croz89]

@@sangle120 To some extent, though I'm not sure what alternative approach would have avoided the massive bailouts to companies and individuals. Perhaps it would have been better to avoid stimulus when the problem is on the supply side, but we'd still have to keep businesses afloat that would otherwise have crumbled.

[@Sparticulous]

The economy still imploded as most government money went to money hoarders in usa who then pumped it into the stock market and cryptocurrency. Most downtowns are still gutted from large quantity of small businesses going bankrupt

[@sangle120]

@@Croz89 mass bailouts needed to happen, but they also needed to be proportional to people staying at home. Tbh I think there's also broader repercussions on a societal level too- people who were essential workers see it as the non essential workers having a better deal and are leaving their careers behind them.

[@markingraham4892]

The actual reason is peak oil, of course youtube is a retard site and will disagree

[@rannyorton]

America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun.. Lloyd Bernard

[@Robertgriffinne]

Ironically, these are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The banks are in a big crisis. The market looks very shaky. The bigger the red candles, the bigger the green ones. I have made over $280k in the last 4 months by investing through my FA.

[@Robertgriffinne]

I personally work with ''Deborah Sue Bohn' she covers things like in_vesting, in_surance, making sure re_tirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.

[@vanguard9067]

The US is not in a recession. Credit card debt did not increased by 20 percent in a single month. Which rates have doubled in a year, certainly not credit card debt. Inflation is high, but declining. And if people are taking on debt for basic necessities (which I think is a very exaggerated, then the country has a much bigger problem: being unable to provide subsistence level incomes. There is not a collapse happening. Quit fear mongering.

[@Zeroground300]

Credit card debt has not increased by 20%. The average interest on credit card debt has increased from 17% to 20.4% ,this may be where you are confused.

[@smallfox8623]

How is the US in a recession?

[@kimyeonahchannel]

The biggest problem with the notion that democracy is the best tool to promote economic growth is that for democracy to work, you need a stable economy and government in the first place, as well as a well educated population. Democracy in a nation where most of it's citizens is illiterate and never finish high school is most likely not a democracy, but rather a demagoguery where voters don't really know what's actually good for the country and politicians are just paying lip service to the masses. Granted this happens even in highly educated country, but think about it for a second. If say the president of the united states says that taking on more debt for building infrastructure is a good thing, there will most likely be at least some quality critics about why it might not be actually that good, critics which is build from many sources and after careful analysis. In a country where that is not the case, the people will most likely just listen to the reasons why it is good from the politician and just agree because they don't have the resource or knowledge to make an opinion on why it's a bad idea, people that don't have basic education or illiterate most likely won't know basic economic theories.
By extensions, people with low education in a democracy will be more susceptible to bribes and making bad decisions. They will be more impressionable and base candidates based on short term promises that directly benefits them rather than the candidates long term plans or ideologies.
Democracy in my opinion also need a stable economy in the first place. Poor farmers that are working all day in the fields with no good access to political resources to make decisions most likely won't make for a good voter, and the process of decisions making and elections itself also need money and an economy that isn't going on a nosedive or at rock bottom

[@xiphoid2011]

Not sure about that. For example, the US was neither stable, rich,, or well educated for the first 100 years, yet it is the longest democracy to date. Japan and Germany were both utterly destroyed And unstable when they became democratic. Not saying what you say is wrong, but there are examples that don't meet the stable, well educated, etc preconditions

[@nunyabidness3075]

It shows you how amazing it is that western democracies exist. Also, it’s worth considering how many negative feedback loops we have created by fostering a culture of redistribution.
I don’t think voters are nearly as diligent as they ought to be about infrastructure projects especially schools and roads.

[@harukrentz435]

DEMOCRACY NEEDS SENSIBLE LEADERS. NOW I ASK YOU TO LOOK AT THE USA, HOW MANY SENSIBLE LEADERS IN THAT COUNTRY? WE HAVE A NURSING HOME PATIENT WHO IS SO BAD AS POTUS HE MADE TRUMP LOOK GOOD. THEN WE HAVE THE NVTJOBS LIKE DE SANTIS WHO IS TRYING TO MAKE USA A CHRISTIAN THEOCRACY REPUBLIC. FEEEEKKK!!!

[@utkarshmaghav708]

that's where free media comes into play the 4th pillar of the democracy

[@retrojay86]

How this explain America being such a third rate democracy?

[@hallmichael35]

I think economists are looking at the wrong factors and statistics. Instead of paying attention to GDP, and unemployment which are flawed by themselves and look at other factors. For example, can we really say that people are better off when credit card debt balloons to 986 billion??? Or when lottery tickets hit an all time high? Do we look at fuel and food costs increasing in double digits and say “yep! All good!”
This is the downside of economics where we focus on a few stats and don’t delve deeper into the cause and look for alternative statistics that could paint a better picture

[@Zyo117]

Just the idea that paying someone to clean your house adds to GDP, but doing it yourself doesn't should really tell you how flawed a measure it is.

[@neeneko]

That is kinda the key detail when talking about economic success. Economics does not have an objective metric, every measurement you assign value to is done relative to the speaker's (or the speaker's school's) priorities. We tend to value GDP and growth because the people who benefit from GDP and growth tend to also be the people hiring economics for research and punditry, so their priorities are presented as 'our priorities'. There are plenty of alternative statistics, but the people who have tied their fortunes to the current ones, along with anyone who wants a career in the field, are not interested in them.

[@hallmichael35]

@@chamalinni I think people struggle with GDP. Especially when you explain the 4 parts and what goes into those parts. And everytime I explain that unemployment doesn’t count people who aren’t looking for jobs they instantly dismiss it

[@hallmichael35]

@@Zyo117 perfect description

[@iwasntaguntilimovedouttheh3961]

Velocity of money, you don't see This being mentioned.

[@vonneely1977]

What I love about this channel is that he explains economics the way an engineer would explain a piece of machinery. There is no spin, no agenda, no personal ideologies or weird theories thrown in. It just does what it says on the tin. He explains how these systems operate and invites you to think without ever trying to tell you *what* to think. It's a refreshing an oasis in our desert of endless spin.

[@mustg4891]

Instead listening western economist, learn and do your own research how world economy works, otherwise you will end up brainwashed

[@josephp.1919]

Everyone has bias. And every Piece of media has bias. If you think this guy doesn’t then you just don’t notice it. It’s better to recognize your own biases and always assume everyone else is putting “spin” on things than to try and find someone who isn’t.

[@neeneko]

@@josephp.1919 This. The presenter has their own school and priorities, taking many things as givens and ground truth which, if they match the speaker, seem natural. I agree it is like listening to an engineer, but that has a similar problem. Listen to any engineer explain how something works and what parameters mean it is working well or not and you can usually figure out what THEY use the widget for and are taking it as a given that 'does this job better == better'.
Put another way.. yeah... it isn't that the presenter is telling people what to think, they are assuming what they already think and presenting that as correctly minded, which is what one would expect when explaining systems where the conditions for success are relative to the speaker.

[@milkdrinker7]

The greatest trick the devil ever pulled was convincing the world he doesn't exist. Neoliberalism is so insidious because it doesn't posit itself as the most valid of a variety of ideologies, but instead as "just the way the world works". Most people in western countries are so indoctrinated that they would sooner imagine the end of the world than the end of capitalism.

[@Holphana]

You have been brainwashed by neo liberalism. This channel is far from unbiased. You should obtain a wider range of opinions to see for yourself.

[@boingkster]

Everything is so interconnected - banks relying on bonds which rely on other banks and their bond system... which rely on investors and incomes and networths and sales and retail and international shipping and consumerism and government taxes and interest rates. Its all insanely connected.

[@taylorbug9]

And it's all controlled by incredibly greedy people who are also incredibly short sighted.

[@rfwillett2424]

That connectedness breeds resiliency.

[@boingkster]

​@@rfwillett2424 when done correctly. The big risk - as pointed out in the video - is when that connectivity is over-leveraged and external factors change the predicted economic outlook. Suddenly a 'good investment' may not seem like such a good idea. Hindsight is, as always, 20-20.

[@sectumsemparium]

Everything built in a way to support capital overlords

[@rfwillett2424]

@@boingkster Didn't say there couldn't be pain ;) Capialism is like Democracy. It might suck, especiall when done badly. But evrything else sucks a lot worse. It the end it's all about oversight and sound regulation.

[@floxydorathy6611]

I've been diligently working, saving, and investing toward financial independence and early retirement, but the economy since the pandemic has eaten up the majority of my $3 million portfolio. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?

[@floxydorathy6611]

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?

[@floxydorathy6611]

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

[@kimyoung8414]

The best way to describe the present economy is 08' 2.0. Yes stocks are at a discount and things will eventually get better but my monthly living expense is up $3750 from $1600 and I'm left wondering what retirement have in store for me 5years down the line, I'm ill-prepared tbh, my 401k gains are zero-nothing and my stock portfolio?...OH WELL!

[@alexyoung3126]

Find a mean to gain off the present market condition, we seem to be moving same direction as Venezuela and that wont be good for anybody

[@joesphcu8975]

The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a portfolio-coach seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to outperform. Netted over $800k in return on investment, since using a coach for about 2years.

[@lawerencemiller9720]

​@@joesphcu8975 I find your situation fascinating. Would you be willing to suggest a trusted advisor you've worked with?

[@joesphcu8975]

renowned for her proficiency and expertise in the financial market, “Helene Claire Johnson” my financial advisor, holds a broad understanding of portfolio diversification and is recognized as an authority in this domain.

[@lawerencemiller9720]

I discovered her webpage, reached out via email, and arranged a call, anticipating her response. My goal is to commence 2023 on a positive financial trajectory.

[@xmightyxquinnx1]

I love that we're talking about undeveloped economies as the ones that are able to provide all their own needs, if anything, that sounds like a developed economy. Ours are the real undeveloped economies who rely on the market.

[@Brian-tn4cd]

There is some truth but also some details that need to be checked, a "underdeveloped" country may be able to be somewhat self sufficient, but in that case it can't specialize or make complicated nation wide projects that can improve the lives of many unless it became really lucky. Without specialization you cant have any type of person other than producers, no doctors, no artists, no soldiers, so if your neighbor has more of these things than you then your sovereignty is always at risk, either via a cultural drain (ie people attracted by promises of better lives/less work to maintain current standards) or violence. Self sufficiency works pretty much only in isolation, but once you get others involved, it wont last forever

[@bullymaguire8380]

Well , Sri Lanka, Pakistan are democracy yet they suffered from crisis.
China and Singapore were not democracy yet they developed.
Most of the so called advanced economies became democracy only after becoming rich and advanced in first place.

[@rollinghippo2940]

China ain't developed yet

[@mujtabamuktar]

Pakistan is a military dictator ship

[@nntflow7058]

Singapore is a democracy. But the main political party has successfully retained power because their policies work for the country. Even though they are a right-wing party. They combined lots of left-wing policies (like infrastructure, social issues, or housing, for example). To solve societal problems in the country.
If they had refused to implement popular left-wing policies, the ruling party would have been voted out years ago.

[@unconventionalideas5683]

China is not really all that developed outside of its shiny new mega cities engineered as playgrounds for China’s rich elite, though…

[@bullymaguire8380]

@@nntflow7058 "were" cant understand simple English can you?

[@yuchenwang679]

Your global gdp growth interpretation is potentially misleading as it doesn't account for inflation. Are we really producing 3 times more stuff? Or did the stuff just get more expensive?
You need to show the real gdp growth to be more accurate.

[@kalomboC]

Is the global GDP figure adjusted for inflation?

[@davidbrayshaw3529]

That is an excellent question. I wish that I could answer it!

[@rizkyadiyanto7922]

even if it did, inequality is still a problem, and its growing.

[@kaxike7988]

nah, you have to look for that separately

[@1wun1]

Good question, in many cases it's not adjusted.

[@SF-eo6xf]

@@rizkyadiyanto7922 not necessarely. We are living the best times. Doesn't bother me someone flies private jets or drives Ferrari. I still get to fly everywhere in the world and own a car

[@matthewdancz9152]

I think economists have forgotten that when people are angry and without hope they can always fall back on an axiom of nature, and just take what they want, if what they want exists. The future is mad max, if governments keep acting like people exist to service the government and not the other way around.

[@user-si9cw3oc1v]

I don't know much about 🇭🇰. But , countries like 🇱🇧 , 🇱🇰 and 🇵🇰 are facing big economic crises because of having a huge unsustainable debt. And also because of economic mismanagement and corruption.

[@kwmcgreal]

I always appreciate that you try to include an appropriate amount of discussion around context of the issues we see today.

[@ktefccre]

What if the reason for the waves of economic collapse is because real economic prosperity can only be achieved by the Power of Friendship 😃

[@paxshmitz2665]

That’s actually reasonable

[@Myticalcattnip]

Reasonable dream every pacify but not reality nature of human desire for taking everything

[@mayanksingh0044]

India is a democracy while china is a tyranny, yet china is way ahead of India??? Any reasons?
Democracy doesn't mean road to prosperity or vice a versa.

[@niharikamenon-iz8xu]

Also our democracy is pretty dumb and filled with more corruption than all the dictatorships COMBINED 🤣

[@kaxike7988]

and i'm sure china is much safer to live than india

[@paullnetinstitute4799]

definitely. The democracy based low iQ argument was forever killed by countries like Dubai, Qatar, China, Singapore, Switzerland, etc

[@slavenrasic2173]

​@@paullnetinstitute4799 Your argument is also low iq.

[@serhiy-serhiiv]

​@@paullnetinstitute4799 are you suggesting Switzerland isn't democratic?

[@zsoltpapp3363]

Most of todays leading economies reached their rank as leading economies when they were not democratic at all. When the US became the no.1 economy (around 1900) majority of the population didnt have right to vote. So democracy has nothing to do with economic success of any organization, that is why none of the corporations are democratic. Quite the opposite. Democracy is a consequence of economic success in many cases. Also who would call todays US a functioning democracy? No one knows who makes the decisions, but everyone knows who does not - that guy who was elected by the ppl

[@Danny_6Handford]

Academics, economists, corporate CEO’s politicians and business leaders do not have any new ideas. They basically keep repeating the same old stories and keep blaming the same old things based on the same old economic models.
To me, one of the most stunning things I learned about modern economies is that money is created out of thin air when someone takes out a loan and goes into debt. I was well into my forties when I learned this about modern money. At first I did not believe it and it is certainly not what I was taught about money in my younger days. The money is created by entering numbers into the borrower’s account when the borrower takes out the loan. As the loan is paid back, the money that was created for the loan is eliminated and no longer exists, but the bank or financial institution that created the money gets to keep the interest that was paid. So, the more debt there is, the more money there is and the more interest that is paid to the bank. Modern money is mostly about getting governments, corporations, businesses and people into debt and there is also quite a bit of smoke and mirrors involved.
On the international level, debt has been used as a tool to gain power, status and influence over other countries for centuries. In the past century, the US perfected this technique. In the 21st century, China and some other countries have also learned this trick. The idea is to keep the borrowers continuously in debt so they can continuously keep paying interest to the “lenders”. The joke is that the money given out for the loans that make up this debt does not exist. It is basically a “fake loan” and to make the joke even better, to get a loan like this, most of us including governments of other countries have to put up some collateral, so if you default, they can take ownership of your collateral. So basically, they get whatever collateral you put up for free and with no risk since the money they “lent” you did not exist. Supposedly, this has been determined to be a legitimate way to do business! This is how the US has been able to be the dominant player in the world economy but is now being challenged.
The Gross Domestic Product (GDP) represents the size of the economy which is the amount of money the economy is worth. When the economy is continuously growing, the GDP is also continually growing. Similar to any addiction, more and more borrowing is needed to have the same effect on economic growth. When the government debt starts to become greater than the value of the Gross Domestic Product (GDP), technically it will no longer be possible to pay back the government debt. If it continues, the buying power of money will start to be significantly reduced and if the government debt starts to become several more times higher than the GDP, the money and financial systems will probably collapse. If this happens, the system is reset and the cycle is repeated. During the run up there will be some good times but, after the reset, times will probably not be good and war is also a possibility.
This cycle has been repeated continuously throughout history from the Chinese Dynasties to the Roman Empire to Germany after World War One and to Argentina, Venezuela and to many African and Asian nations in the 21st century. If the American Empire can avoid this cycle, they would be the first. The idea and thinking that the economy always has to grow for there to be innovation, progress and prosperity may be a problem on a finite planet with limited resources and the focus now needs to be on sustainability not on growth!
Presently if the economy is not growing, it is considered a failure. This type of thinking cannot go on uninterrupted on a finite planet with finite resources. There needs to be flexibility in the system for the economy to expand and contract and for a contraction to be considered normal and not a problem or a failure. The contraction needs to be just as prosperous and productive as the expansion.
For this type of thinking to work, there needs to be some new economic theories and models developed along with some new types of money and financial systems based on economic sustainability not on economic growth and money inflation. I am sure there will be some Nobel prizes awarded to the academics, economists, corporate CEO's and business leaders and of course politicians and government officials that can figure out how to make a sustainable economy work and how not to devalue the nation’s money in the process.
The way this can begin and improve peace and fairness at the same time is when our business, government and academic leaders along with our wealthiest and brightest and smartest among us can learn to be much more truthful, honest and trustworthy and learn how not to become corrupt and can start to understand that the wellbeing of others benefits everyone and is the bases for morality.

[@raptorcheesus]

You wrote well versed explanation to a lot of issues i am constantly thinking about and how to adress them, mainly restructuring our economic models away from growth and towards sustainability. The fact that no economic decision factors in any potential aftermath of a decision (e.g. using pesticides to pump out more but poisoned produce, plastic wrapping for consumer convenience poisoning the oceans our planet sustains itself from, etc.) is literal madness, since we do in fact factor in aftermath in our day to day decisions. If i get blackout druck today i will have a very bad time the next few days and boy has this world been partying.
At this point i have a lot of doubt about productivity numbers like GDP, since they can be bolstered by bullshit transactions - e.g. cleaning your room yourself does not increase economic output, whereas cleaning each others room does. This in turn makes me very suspicous of "growing prosperity" projections since the reality i see is very different.
To be honest i dont ever see this ending well. The path has been set and the ship is hard to turn around. So hard that it might in fact sink. But im a depressed pessimist anyway. Or is it already realism?

[@Danny_6Handford]

@@raptorcheesus I recently learned about the “Centre for Advancement of the Steady State Economy”. Not sure if you are aware of this organization. I would list the website link but UA-cam does not allow website links to be posted so just google “Centre for Advancement of the Steady State Economy” and the search will list the link. Hope this helps with your research.

[@Eliastion]

"If someone invented a new way to build more efficiently on the same amount of land" spoken over a shot of detached single family house suburbia with super wide roads and law-mandated minimum size of the plot of land made me chuckle.

[@m_sedziwoj]

I would love to see deep and long term impact of AI on economy. With current progress in mind (something what many experts would say never happen or in next 100 years)

[@Noe-gj9mw]

"experts"

[@Annou7la]

@@Noe-gj9mw futurists, economists, geopolitical analysts etc are literally worse at predicting the future than the general population. No joke it’s studied.

[@SF-eo6xf]

If AI increases effeciency it will to an increase in GDP. So did the computer and any tool before

[@shawnk7720]

@@Noe-gj9mw They really should be called "specialists" and indicate what they specialize in.

[@zvorenergy]

Hey AI, I hear one of you passed the bar exam with flying colors. If you're going to kill all humans, please start with lawyers.

[@campbellmorrison8540]

Nice to hear a positive outlook, its not that common these days.

[@kalomboC]

Chinese loans are not 'generous' by any measure. They are commercial i.e match debt market interest rates. However, they are (were) more available to developing countries at a time when anything other than IMF/WB concessional loans were. He nce an attractive option (as compared to nothing).

[@harukrentz435]

You clearly have no idea what youre talking about.

[@badluck5647]

Depends on the project. There are plenty of uncompleted projects built exclusively by Chinese workers and paid through debt owed to Chinese banks.

[@doujinflip]

Attractive to the often corrupt politicians who didn't want to concede their power to steal from their constituents, yes

[@kalomboC]

@@badluck5647 I highly doubt there are any projects built 'exclusively' by Chinese workers and being from a country and region where there were many Chinese Projects, I can attest to seeing for my self.
My correction however is on the stated 'concessional' nature of the loans. There is no such thing. Chinese loans were commercial and this compensated for the risk of lending to vulnerable economies

[@badluck5647]

@@kalomboC Are you really going to nitpick how Chinese corporations aren't exclusively using Chinese workers because they let the locals clean the bathrooms at the construction sites?

[@user-lk8xd3nu2j]

The idea that the influence of voters is positive is ludicrous. As a Greek I can say for sure that any party that dared to address the debt issue by reducing benefits would be heavily punished, which is why it didn't happen. Argentina Brazil, even France is the same. The current world leader thr US has reached the point that it has no power to respond to emergencies due to its debt. Even an easy war like the invasion of Iraq is out of question nowadays.

[@johnsmith-ol9qj]

I will never understand why @EconomicsExplained doesn't see greed as a big part of this problem. On all scales there is a lack of public trust between individuals which causes a reflexive hoarding mentality in the market. People don't want to get burned not realizing that the very systems they put in place to guarantee their own success comes at a cost of others doing horribly. This is "instinctive" but counterproductive as you hurt yourself in the long run by reducing the amount of specialized individuals in the cohort. Companies are to worried about satisfying their shareholders when their shareholders provide nothing to the economy but pieces of paper. Labor is value

[@doujinflip]

The whole philosophy behind capitalism is using personal greed to develop satisfactions to needs and wants of all sorts. Problem is the biggest rewards go to the most sociopathic actors, which is why private business interests shouldn't be driving public policy as a whole.

[@josephp.1919]

Because while economics is a science, economists and institutions that teach economics have been captured by corporate money. Therefore the average economist will talk about the economy in terms that reflect the interests of rich people.

[@cxngo8124]

Trickle down economics. If the rich get rich, we will also get rich. Except it's going the other way. The rich get rich we are poorer thinking we're richer.

[@thepeff]

Me: How come millennials can’t afford a house?
Economists: Things are better than ever!
Me: …

[@MichaelWilliams-eq4kt]

You’ll own nothing and you’ll be happy.

[@holdmybeer123]

Millennials want the green new deal. Which results in inflated housing costs. In San Francisco you have to do an environmental review for every house you build even if you are just demolishing existing house to build a new one. There's a lot of NIMBY ism in the USA too, which also drives up costs. Voters voted for this, so the future generations will pay the cost of bureaucracy.

[@cxngo8124]

Our system requires US to buy. That's why demand shocks are bad.
So they have methods to make us buy. One is owning all the houses and selling a few to people at inflated prices. We have more than enough houses to get rid of homelessness but instead we have a inflated market.

[@vvolfflovv]

Great comment. 1% of the population owns the majority of the pie and the pie left for the rest of us is getting exponentially smaller.
They do this by constantly making the money you spend most of your waking life breaking your back for worth-less.

[@msmith3395]

@@cxngo8124 Who is "they" controlling the market and where are all of these empty houses being hoarded?

[@SangoProductions213]

1) The pandemic response (often mistakenly stated as "The pandemic")
2) Momentum. An object in motion stays in motion, until acted upon. It takes time to spend all the reserves, and then borrow and print your way to an unrecoverable position.

[@eddebrock]

It'd be interesting to hear what the global economic situation is like if you exclude the top 1 or 2 % of wealthiest people, or how the economy is going for the median person.
A lot of the times you get the feeling that when they say the economy is improving, they really mean for the top echelon. Who then pull up the world average by a tonne!

[@dionjones6300]

I sometimes think of it as the quality and quantity of goods/services are improving which eventually outweighs the housing issue and can't include the quality of working conditions/the state of labor.

[@theconqueringram5295]

Amazing how so many things are interconnected!

[@frankcooke1692]

Listening to an Australian lecture you on economics is like a lecture from Chris Hemsworth on how to make it in Hollywood.

[@FictionHubZA]

Australia had a good set up. Lots of resources and good government that was able to capitalize on those advantages.

[@FictionHubZA]

Also Chris Hemsworth is Australian too😅

[@joanneburford6364]

Thanks we'll take that as a compliment.

[@frankcooke1692]

@@FictionHubZA The stupid thing is - neither of those are the reasons we are rich. That's like Liam Hemsworth claiming he get by own his own merits.

[@charlesberkeley6429]

Hey Frank Cooke, if you were trying to denigrate Australia, you failed by using that Chris Hemsworth analogy. He's been ultra-successful in Hollywood you idiot. The only way your comment makes sense is if you meant to say that economic advice from an Australian will lead you to be ultra-successful. You can't even insult people in a way that makes sense.

[@borikero1]

Governments and the economy in general are too focused on the consumer and not the workers. Workers are what really makes the economy work. Unproductive consumers that don't produce anything (aka don't work) are great at generating inflation and paper gains in economic numbers...but everyone feels they are getting poorer as the economy seems to powers thru (all smoke and mirrors), the economy doesn't feel quite right to anyone, like it is heavily distorted in many ways. That exactly is what is going on, we have plenty of money moving around from government stimulus and monetary stimulus, strong consumers with plenty cash to keep the economic numbers looking somewhat good...but the workers know they are getting shafted, that is where everything breaks down... productivity goes down, employee turnover increases, workers demand ever increasing wage adjustments, and stuff like quiet quitting and the quit rate increase dramatically. Working is just not a very attractive option nowadays, in many cases completely unnecessary, and in other cases can be even counterproductive when many live better by doing nothing at all. The INCENTIVE to be productive is broken...the push to equalize pay at any cost and lift unproductive people from sometimes very arbitrary poverty lines has made it completely pointless to actually be productive and get a job. It is still extremely amusing seeing "the experts" and politicians completely baffled by the very basics of human psychology and economic principles 😂. Sooner or later they will figure it out...they can try changing the world all they want, but they can't change how people think.

[@laughingman7882]

Advanced economys can outsource their economic negative to developing economys.
In this video, I heard like 9 different ways the first world screws the third world so their positions stay the same

[@PJTierney]

I have a production question if it’s ok to ask:
When you call out previous videos your graphics (the mocked up UA-cam pages with the thumbnail in place of a video player) are very consistent.
Is there a tool or template you use to generate these?
Would love to use something similar in my own work 🙂

[@p07a]

Probably a bunch of stock footages with presentation slides in between

[@petedebenedette2329]

You are very right .. should you call development and growth development and growth when the climate externalities are “offshored” to the so labeled “undeveloped” world. Be good. Be light. All power to you my friend. I believe you will find a new deinfition for economics. Also I would refer “Sacred economics” by Charles Eisenstein.

[@PJTierney]

I’m not referring to the thumbnails themselves, but rather the mock UA-cam pages that display them. They’re not standard screenshots so something else is being done here.

[@kingofhearts3185]

I'm also curious how those are made. I wonder if it's a screenshot that he edited

[@remusremeczan709]

@@PJTierney try to search for green screen youtube page

[@depayanmondal]

Like and subscribe? In this economy?!?!?
Impossible 😔

[@user-pb2mn7go2p]

😂

[@josephfrys6969]

Jobs will pay your bills business will make you rich but investment makes and you keep you wealthy the future is inevitable!

[@joshnorton4918]

Assets that can make you rich
Bitcoin
Stocks
Real estate

[@ScarletJohansson-rg6jr]

@@joshnorton4918 You're right, it's obvious a lot of people remain poor due to ignorance

[@tobytaylor4051]

I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings

[@samuelroyal3818]

@@tobytaylor4051 I'm enjoying working under a platform that brings good return in my life and I've been making my weekly returns without stress all in cry-pto currency

[@samanthadonaldson2246]

Starting early is the best way to getting ahead of build wealth, investing remains the priority

[@falsul96]

One must wonder what historical events might have happened that resulted in some countries to be advanced economies and other developing ones…

[@ollimustonen]

Why Nations Fail is probably my most recommended book for someone to read ever. It’s easily the best explanation of why some countries do better than others and it’s all backed up by solid data. Acemoglu is one of todays best economists.

[@ljy8123]

Hi, just a small silly question
Could the increase of GDP be a result of inflation rather than increase in production? Or perhaps this increase is a combination of both inflation and production

[@Not.a.bird.Person]

My exact question too. In a world where material wealth is not proportionnal to money/paper wealth, an increase in GDP is meaningless unless accounted for with the corresponding material wealth indicators per capita and against inflation. This was a weak take from EE at best.

[@answerman9933]

Yes. I asked this question also.
I mean saying that there are more birth than 20 years ago is somewhat meaningless when there are factually more people availble to give births. Since the birthing pollution "inflated" the overall number of births is likely to increase as well.

[@pg.travels]

You can usually get stats in constant $ value (I think a constant 2010 USD is usually used). Without checking the figures, I would expect he has used these figures otherwise inflation would be a factor

[@holdmybeer123]

The formula for GDP growth has a component called as the "deflator" which adjusts for inflation/deflation. Of course it doesn't work because governments are real crooks when it comes to counting inflation, they do a very dishonest job and always underreport, throughout the world. But that is besides the point, the GDP growth is always after accounting for inflation.

[@Not.a.bird.Person]

@@pg.travels Inflation is only one of the parameters that make EE's take questionable. Housing and the division per capita makes the whole GDP argument look meaningless. In most western countries, housing increased in price over 20% over 2 years in the period he looked at. That factor alone can change the entire dynamic of what a GDP increase really is. In this case, since most inflation measures don't even include it, even a calculation factoring ''inflation'' doesn't capture the housing bubble effect, which is absolutely not an ''increase in output''. The division per capita also puts a dent in that interpretation, the median person has been growing poorer in the last 3 years. To anyone with eyes, this doesn't suggest an increase in output. Since GDP is a measure of money flows, all it suggests is that money has been flowing more rapidly toward rich people in the past 3 years.

[@Abyss-Will]

Here in Argentina we are always in a crisis

[@mcguigan97]

what’s missing from this video is the fact that some countries went from undeveloped to developed. It’s not like it was given like a gift.
It goes the other way too - Argentina was a leading economy in the early 1900s, it’s now a basket case.

[@cg2642]

7:04. The idea that companies actually pay taxes to support the publicly financed infrastructure they use might be the way it's supposed to be. But it doesn't happen

[@demonridera]

That's the reason why developing countries are going for trade in own currencies and dedollarising. It reduces transaction costs and prevents capital flight

[@niweshlekhak9646]

the problem is big corporation don't want to accept payments in non-established currencies and money going out of the country during crisis is not good. Even India is now having problems with so many rupees gone elsewhere.

[@AnimatedStoriesWorldwide]

We've been delaying the collapses long enough to be "out of COVID" but the collapse is still due, delayed or not.

[@Furiends]

It's funny how there's not only a built in assumption that a collapse is due but an expectation, a reliance on it happening. I think people should think very critically on why this is the case.

[@itsonlyafl3shwound]

Didn't you mean to say the rba shock? Let inflation rage and say there is none, then admit there is inflation and we need to crush the consumer to stop it! Much better analogy MATE.

[@greenleafend4games]

People still repeating the mantra, we are better than what we have ever been are a tragic joke.

[@MadnessMotorcycle]

So the organic farming disaster in Sri Lanka is an example of supply shock? Sort of funny no one mentions this anymore.

[@SathvikSKumar-pv1tl]

Democracy or not , you ultimately need a leader who legibly gives his 100% to improve his country no matter what. And has the guts to literally stand by his vision and his policies, regardless. Like an army personnel who's only and only priority is his country, not his position, nor his progeny , nor his pleasure. One of the very reasons why those top two countries with highest gdp growth continues to grow unlike the rest of the world.

[@MagicMike_101]

No, you need planning and fundamental economic development. People are there just there for a while. The reason the monarchies collapsed and heads of state had a few years in government before rotation (democracy).

[@user-qn6yt3zx3w]

Great video, but missed the real answer here. The issue is that the US dollar is the world’s reserve country and all these countries issue bonds in USD. When the fed raises the interest rate, these developing countries can’t repay - simple as.

[@LENZ5369]

Massive wealth/power inequality in democracies; (re)creates a stagnant ruling class -a monarchy/nobility with a different name and a few extra steps when enacting their will.

[@Not.a.bird.Person]

I know this is just an introduction, but I take issue with the framing of this video around aggregate indicators such as GDP. No, global output has not been increased over the past 3 years even though GDP might have. In a world where most countries on Earth are facing the highest inflation in 40 years, in many cases going above 2 digits, an increase in pure GDP means nothing if you value it in a dollar denominated sense because it means even a 10% GDP growth is a material impoverishment of 1% given an 11% average rate of real inflation (those numbers are fictitious to illustrate a point). That is also without mentionning the per capita breakdown and the moustrous increase in shelter costs over the past 3 years (about 20% per year in most countries). Considering this, these aggregate numbers are meaningless for about 90% of the Earth's population. So no, ''global output'' has not, in fact, significantly increased in the past 3 years. Shelter costs alone might account for 50% of the added GDP, I doubt anyone here would argue that paying more for the same shelter is you getting richer...

[@vikramsingha2312]

Democracy? Really?
What about China , Vietnam ?

[@advancetotabletop5328]

Decades of quantitative easing. With countries tying themselves to the dollar, they also did well during quantitative easing - but are not, with quantitative tightening. USA, EU. and China are in or heading into a recession, and other countries are, not surprisingly, affected. Of course, CoVid and its supply chain disruption was the major catalyst for worldwide inflation and recession.

[@Nobodyman6979]

This dude is so out of touch. Life is not better today than 50 years ago for the vast majority of people. Families are wiped out. Transportation, healthcare, housing, food, education are all nearly if not totally unobtainable for regular people

[@capitalismisdivisionofevil8322]

100% absolute truth!

[@raptorcheesus]

Dude is drowning in ad revenue. In another video he even said he wont ever stop driving a car because he likes to be in his isolated little cage, not with other people on public transit. Actual boomer mindset in what seems a 30 ish guy

[@joshnabours9102]

The whole video I was just hearing different ways of saying "It is more expensive to be poor for countries too".

[@SJ-co6nk]

A bunch of us tried to warn about the consequences of what was happening, we were called evil for our troubles.
We are still warning about some of the other stuff that's going on, and we're still being called evil for our troubles.
Things are going to keep getting worse until people stop mistaking what we would like to be true for what is true.

[@eisbergsyndrom5010]

4:50 The delivery was just COLD. XD

[@bekzadbeknasirakhunov7787]

How great Norway is 😂

[@davidbrayshaw3529]

Norway, the eighth largest oil exporter on the planet? The country with all the hydro power and electric cars? That Norway?

[@stevenjohnston7809]

Great video. You should do a video on the woes of former soviet states. Also how do they become prosperous?

[@marcomartinez1843]

13:27 Isn't that a description for shortage -- when demand exceeds supply?

[@someoneelse4492]

I challenge you to return to this video at the end of this year and point out all of the inaccuracies and why they were inaccurate.

[@angelsy1975]

"What's Causing This Wave of Economic Collapses?" My guess would be... rich people, who control the masses via the social engineering of the media they own and politicians they fund, but not as a monolithic team operation, ie, there are many players, not all of whom see eye to eye, but most of whom have the resources available to promote what they believe the rest of us - or the majority who pays attention - should adhere to.
That there are various ideas, some married together, like culture war and economic issues, as in anti-abortion stances attached to corporate tax cuts, or educational elitism (often class-based, purported "meritocracy") attached to financial or technocratic sector friendly policies, and this just muddles the issue further, so that the voting people are distracted by a culture issue, and then wonder who voted to make sure big business gets a tax cut, or that decades of economic choices have led to a tendency of plateaued wages versus ballooning executive pay, plus the rise of the billionaire-class and the continued erosion of old age pensions and social safety nets in favor of working till you drop to make some other joker rich, just so you have, maybe, enough to survive - and maybe pay down some of that debt they also convinced you to take on.
If you get sick or your trailer burns down or your car with which you need to get to work falls apart, at least in my country... they - the ever present they - have even set it up so you can easily create a GoFundMe or similar in order to beg for money from all your friends, family, and neighbors, who are also all broke, so if you're lucky or particularly good at begging, you can get part of your bills covered, and then maybe won't lose everything you've saved up in order to survive... if you're lucky. I could go into the foibles of the real estate market and affordability, and continued rising food costs whilst inflation and supply chain expenses continue to *not* cut into ever growing profits, but... eh... I get tired of writing about stuff people aren't going to fix (and in fact are *happy* to allow to continue in order that there are no transgender athletes competing against the same nominal gender or that "assault weapons" get banned or that somebody else can't get an abortion or that homeless people have a nicer tent city they can live in instead of being moved on down the road). Anyway, yeah... who, I mean, uh, *what* did this? Hm. *What* indeed...

[@dcoxinator]

Can you do a video on the economic effect of AI and automation? Especially talking about ChatGPT and other AI search engines. Also in the video can you talk about the shift from the information age to the knowledge age.

[@shmackydoodRon]

One word: hubris.

[@DivineMisterAdVentures]

Watching it again again again until it sinks in and makes me SUPER THING.

[@breal7277]

In the US, there are more millionaires than happy children. The las time time I saw a genuinely happy smile in a child was in a third world country. Enough said.
🧒

[@SerabiiBot]

That's because they don't know any better. A matter of perspective. If you lived on the streets your whole life and upgraded to a rickety dirty old RV, you'd be happier than someone who had a small comfortable house who had to downgrade to that same RV.

[@breal7277]

@@nupnorth Yes. it's called the United States. Bottom of the barrel when it comes to the world happiness index; over 130 suicides per day.

[@Mukkuk]

Then I'd rather be happy and ignorant than wealthy and unfulfilled. You even might argue that teaching children about the material value of things is one of the cruelest acts we inflict upon them, since for them there is no difference in joy between playing in a puddle of water or playing with an expensive toy.

[@Jzarecta]

We also need less government and more industries to step up in most of the underdevelop economies. The faster people start innovating the faster their economy will elevate.

[@Peter-je6td]

There is a simple answer too much Debt

[@neeneko]

'debt' is like 'growth'. It keeps the wealthy and powerful onboard with this whole 'liberal democracy' thing and is a way for them to take their cut. Take that away and there is no reason for having capitalism or democracy.

[@Peter-je6td]

@@neeneko yea but no country exists without debt or capitalism that's just the open market of the world

[@blurglide]

Democracy being beneficial assumes people vote for logical reason, when in reality it's usually emotional

[@makisekurisu4674]

I wish you did a video on Bangladesh.
I am not really sure if its collapsing or growing!

[@niharikamenon-iz8xu]

It's growing for sure, but it's hard to know as it's only been growing for few decades now

[@Rakesh_1198]

Basic assumptions in scientific research
1) it relies on empirical evidence
2) it utilizes relevant concepts
3) it is committed to only objective considerations
4) presupposes ethical neutrality
5)

[@robertshelton3796]

Do GDP increases adjusted for inflation

[@jesuschrist8]

Most state fail because their debt is not denominated in their local currency that they can print and they can't roll over the debt. This can only be solved with perpetual Treasury Bills that are denominated in local currency. This is true for Greece as it is true for Sri Lanka.

[@ramzi0]

Really excited for Lebnon’s episode! It’s a very interesting case

[@IQ_Plus17]

Very informative video
One of the best channels of UA-cam

[@TelosBudo]

An addiction to negative real interest rates and free money

[@koharumi1]

10:04 Singapore is an example of not needing a democracy for economic growth.
So democracy doesn't always equal good economic growth.

[@a7xrules91]

are you using real GDP numbers or nominal at the beginning of the video there? If it's nominal that doesn't really mean anything or that we're producing 3x as much

[@aroto]

Great video, keep doing awesome work

[@Aziz__0]

Currently I'm just being smart and frugal with my money, I'm in the green 47% over the last 23 months and l've accumulated over $700K in pure profits from DCA’ing into stocks, ETFs, dividends and futures. However I’ve been in the red for a month now. I work hard for my money, so investing is making me a nervous sad wreck. I don’t know if I should sell everything, sit and just wait.

[@user-3456rtu]

@Margaret Just because there are opportunities in the market does not mean you should dive in headfirst. I recommend that you seek the assistance of a professional to better understand the potential factors that contribute to your financial growth. I was able to grow my portfolio by 5x in 4 months with the help of a market analyst who helped me understand the investing world.

[@Harperrr.99]

@@user-3456rtu I've been looking for advisors recently because the market news hasn't been very positive. who’s the person that is guiding you.

[@user-3456rtu]

@@Harperrr.99 I work with "NICOLE DESIREE SIMON". I understand what it's like to see your portfolio going down. I hope the performance improves.

[@Harperrr.99]

@@user-3456rtu Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@shodanxx]

Tripling GDP does not mean we're making three times more stuff

[@ll2323]

I just want to be able to afford a home, a family, and retirement.

[@robertwalker5521]

Take stock of your expensive card, MULTIPLE
expensive electronics, demanding to be served and waited on and catered.
Erase all those and "do for yourself"

[@thereignofthezero225]

Gdp is not based on production, it's based largely on spending. At least that's how it is here in the US

[@yasinaydn52]

Can't deny the fact that Amazons AUZ100X has the strongest bet to bring lights back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail it's done for good but the pressure is too high and I think they will keep proper liquidity rather than these others. Don't see them going bankrupt any time soon.

[@nickzardiashvili624]

"Soothe the ego of a smooth brain dictator" made me lol :D

[@hannahdonald9071]

In light of the impending recession and the fact that inflation is still far higher than the Fed's 2% target, several of the most prominent market analysts have been expressing their views on how terrible they believe the next downturn will be and how far stocks may have to fall. I need advice on what investments to make because I'm attempting to create a portfolio for my children that will at least be $850k in value.

[@trazzpalmer3199]

There are many interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.

[@graceocean8323]

@@trazzpalmer3199 Yes I concur, I've been talking to an advisor for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.

[@zoeytank2921]

@@graceocean8323 we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides you help?

[@graceocean8323]

@@zoeytank2921 My Financial Advisor is MARIA JULIANA RAMIREZ. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can run a quick online research with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so.

[@tampabayrodeo2474]

I'm literally holding onto straws right now, so your tip couldn't have come at a better moment! I plan to call her after doing a quick internet search for her.

[@AdamSkrzypczak]

It's easy, Henry George figured it out. Speculation on land is generally why economies boom and bust as bad as they do, and the theft of wealth through rent undermine wage growth.

[@jameslascelle9453]

I’m so intrigued and see what happens in the future as the worlds population starts to level off and massively decline. Bankrupted economies might fall into civil war and could be annexed by larger powers; think Lebanon being annexed by Israeli. Lebanon’s population is set to half by 2050 because of mass migration and low birthrates. Or think the USA annexation of Cuba, as it faces the same issues Lebanon faces.

[@k98killer]

That GDP figure at the beginning was not adjusted for inflation, so it is illusory.