I personally really disagree with pushing fractional ownership of art pieces. It just doesn't jive with me to have a UA-cam channel that educates about macroeconomics push personal finance investment products from new and unproven tech startups.
@@James-qi6zi that's not the point... its that someone watching would buy into what's being advertised and will eventually lose a lot of money on it. For an economics channel should know better.
@@James-qi6zi Comments like this don't add any value to the discussion. People can like the channel but not the products it pushes. Channels depend on their community, and discussions like this are important for the community to have, so either contribute something to the discussion (why do you like these ads) or take your own advice and don't participate in the discussion if you don't like it.
Quite impressive but HOW!!?😊 I know it's possible, my colleague at work always get 40K every week, I would appreciate if you show me how to go about it...
"My consultant is *Delia Luna* 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. Someone did mention her here afterwards
I love how a lot of serious channels on topics like the economy and foreign policy are perfectly willing to shill for something that is likely another bubble, basically detached for the physical economy.
@@richdobbs6595 Yeah and Masterworks pushes hard for you to get in it. I got in one of those 'list jumps' and these guys fricking bothered me to put money in it, even calling from the US (Im in Europe) out of nowhere. They create the illusion of scarcity yet go after you like sharks.
Creating a ‘false sense of scarcity’ is scammer strategy 101. Companies offering high quality product don’t use the kind of sales pitch on show here. It tells you everything you need to know about Masterworks. It’s surprising UA-camrs with a fairly legitimate reputation are interested in tying their name to it
A bit stereotypical to mention only banks, watches and chocolate. Switzerland has also world class robotics, tech, pharma, transportation and nutrition industries. Also a world leader in R&D and innovation. It is quite impressive what this small country is capable of.
@@eaterdrinker000 EE wasn’t like this though, it used to be pretty thorough. As for CNBC, I would rather read than watch their videos. Their editing is pretty dross for an outlet that big.
Sweden don't use the Euro, they use the swedish krone. There is a difference between EU, Eurozone, Europe, EEA and Schengen area, although they overlap greatly. Other countries wrongly labeled are: Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland and Romania.
Bulgaria's Lev is tied to the Euro. We just call it Lev, so in the case of a terrible crisis we can decouple it from the euro and debase our currency to do some monetary policies. 1 lev = 1.95euro, no matter what happens.
Switzerland has a GDP of $813 billion and Ireland had a GDP of $398 billion, but he gave both countries a 7 in that category. Seems like Switzerland deserved an 8.
@@Phil_br Switzerland had a GDP Per Capita of $93,457 and Ireland had $80,410. Both are definitely high, but they both got a 10 in that category, even though Switzerland's is $13k higher. It's a limitation of the ranking system. If he used decimal numbers, like Ireland gets a 9.4 and Switzerland a 9.8 for GDP per capita, it would make it more accurate.
@@wirmansyahchandrawijaya407 Sure, but there are better ways than peddling a start-up company that taps the popularity and perceived authority of certain youtubers to falsely represent/blatantly misconstrue the nature of the product to prey on retail investors for revenue.
He's not an economist. Real ones debunked his videos for their subjectivity and narrative-pushing, with low research standards. You can see Money & Macros video about EE. M&M is an actual professor of econ at multiple unis so he knows his sht
In Switzerland the real inflation is higher than the official one. The real estate price is not included because it’s considered as investment and not a spending. In average the energy prices increased more than 30%
Yes, but as it is well explained in the video, energy cost represent a very low share of the cost for the average swiss family relative to other countries, so this legitimately has a limited impact on the overall inflation. Median salary in CH is 5-10x higher that some countries in eastern Europe and we still have cheaper electricity than most of those countries as end consumers, so a 30% increase of electricity price in CH will have 10x less impact on the CPI than in those countries
Hey man, just an opinion, i think your old logo is really much more memorable and recognizable. Not many youtuber have your kind of color and also your double 'E' for your abbreviation of your channel name. Your current logo make you unfamiliar and also almost indistinguishable from some 'innovation' and 'engineering' channel because of the connotation of lamp. My suggestion is you should try make a community post vote whether your viewer is recognize or liking your new logo. Still love your content
The big reason why they do not have inflation problem is that everything is already very expensive there, so say a 10% raise in raw material prices in the international market will be a much smaller part of the cost of a total product there compared to countries with lower overall cost structures.
Out of all the places I've travelled, Switzerland is hands down my favorite country to go to. Everything they do and make is awesome. They absolutely deserve all of the praise you can give for human craftmanship.
I found it very beautiful, very safe, very clean and awesome, but very...boring. Have visited it many times. Esp. the French part is...boring. Everything is closed after 7pm, everybody is at home. Other than that, great country.
Just as a side note on the whole Masterworks discussion: the animation at 6:44 shows an animation of Sweden being part of the Euro-zone, and all though we are part of EU we still use the Swedish Krona.
Please show the return of Art with recessions involved for the past century. The graph shown was up to 2008. Furthermore, it would have been nice to see a disclaimer for that shameless plug for MasterWorks.
As someone living in Switzerland, I have to say that this is absolutely not true. It was pretty expensive here before and is only getting worse, stores are upping their prices monthly.
Inflation only hurts people who cant get at least the invlation rate added to their sallery!It dosent matter if you have 10% inflation and you get 10% more money,or yiu only have 3% inflation and you get 3% more money!
@@brunoheggli2888 that ignores the changes in value of savings vs the changes in value of debt. High inflation (equalized with inflated wages) aids those who have more debt and harms those responsible enough to have saved. This created the incentive to spend now and spend fast, driving inflation even higher.
I'm not sure you watched the video. The reported inflation is slightly above 3%, he didn't claim there's no inflation, just that it is very significantly below that of other developed economies. Your personal anecdotal evidence may only justify one of the 'flaws' the video points out to, which is the measure of CPI as an average basket of goods and services which may not reflect your personal basket of goods and services. My personal evidence as a Genevan citizen who regularly shops in Geneva as well as across the border in France, is that indeed inflation at home is significantly lower.
Hi EE, a couple times towards the beginning of the video you talked about Michigan, but you were showing the Chicago skyline which is in Illinois. Great video regardless. Cheers!
The masterworks thing sounds like tangible NFTs. I envision the masterworks project imploding in a similar way, for similar reasons. What happens when a person pours vinegar or superglues their face or buttcheeks to the art piece you “own”? Other than that, I believe this video was very informative & am glad your team uploaded it. Take care, everyone.
15:54 the growth figure in my opinion is way too high. You said in the past that growth is measured on a 10 years basis, and if you measure growth that way, then switzerland had an annual growth rate of around 1%. This growth should not give switzerland 7/10.
World band most recent data gave them growth of 1.2 in 2019. For a ranking of 7. Canada in 2019 had 1.9 for a ranking of 2. This is not a scientific ranking system, but a personal feeling system.
Exactly my feeling, I'm ashamed to admit I felt really nervous. Overall agree with the ranking, except for Industry. As I understand it, GDP is the only absolute grade granted, while others are more per-capita based. If that is the case Switzerland should have a 9-10 given the degree of Industrialisation. There's much more than bank, watches and chocolate in Switzerland. Revenues from the pharma industries rivals those three combined. Machinery too. When a country manages to maintain the same rate of industrialization as Germany while their workers demands 2-3 times the salary, you must raise the standard of production to an astounding level and justify the markup to your customers, and the country has been doing so consistently for decades now.
@@NathanQuinteiro Switzerland is an important arms producer in the world (Sig Sauer) and also has important European agencies in it that dictate where capital flows and also attract capital (CERN) so yeah, quite a bit more than chocolate and luxury goods. Especially since stuff like chocolate that they produce is actually rather affordable and I doubt it contributes *that* much to Swiss economy
You are partly wrong there are two types of inflation demand pull and cost push....in the latter kind of inflation is not cost by supply shock but exponential growth of credit diverting to consumption.Although to your credit on a local level that is how the national catastrophe manifests itself but the root cause in this scenario still remains cheap credit.
I work for a UK subsidiary of a Swiss private bank. While that has its advantages, it also leads to some belittling feelings when your colleagues laugh off your cost of living concerns and can't fully comprehend why you can't just come and join them for a ski trip at the drop of a hat.
Love all your videos, and content. Not to be annoying or a nuisance, but the stock footage you were showing for "Michigan" was actually Chicago, Illinois 😅
It has to be noted that Switzerland has a very different calculation of the cpi compared to other countries in Europe. If you calculate it the same way they also have high inflation...
I saw this video on my recommended feed and I scrolled past it not noticing it was EE, the old logo was so iconic I didn't notice the channel name until I saw it again
Well stated EE, about how a low inflation rate is not necessarily a good thing. I’m Japanese and I feel like inflation is something mysterious occurring on the other side of the world (the 2022 Japanese inflation rate is estimated at 0.984% annually by the IMF). Still, people are furious at the government and the BoJ. Honestly, this is not a time to promote the world's division through wars and conflicts over ideological differences. We have to cooperate.
I wonder why you don't mention the money printing in lots of other countries, thus making the Swiss Frank stronger as long as the Swiss money printer stays at a low speed.
It's tough to share these videos with some people I'd like to because anyone new to the channel, skeptical to begin with, or not well versed in the UA-cam ecosystem is just going to be turned off when the video sneakily slips into a Masterworks advert. Instead of an educator they just see someone try to hock something scammy.
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.
11:29 A small error has slipped in here. You say Switzerland imports 305 billion, but in the chart the 305 billion are listened as export. Similarly, the following 302 billion in export are listed as import.
Numbers are wrong either way, for 2018 for example there was a 30 billion surplus, thats a lot for this small country. And most past years were like this.
I don't comment on videos ever, but as somebody from the Chicago area I feel compelled to do so now. 2:45 - You're saying Michigan, but showing the city of Chicago (the building in the center is the Sears Tower). Chicago is in Illinois, not Michigan. I know to some people that's a difference with out distinction, but it's like saying New Zealand and showing the Sidney Opera House. *Edit: and again at 3:17
The map at 6:46 shows all the countries in the European Union but some of them use their own currencies like Bulgaria, Romania, Poland and many others.
Isn't the point that heating takes up a greater portion of the CPI basket, and so inflation in hydrocarbons will have a bigger impact on overall inflation?
Hey there, licensed economist here, huge fan also. Inflation is purely a monetary phenomenon, it's closely related to the fluctuations that occur within the market, but it's not necessarily a bad thing.... Also, inflation Is a decrease in the purchasing power parity of a currency, that occurs due to multiple imbalances in the "money supply VS economic output" equation, that can happen either due to too much "cheap money" in circulation, or due to the excessive facilitation of too easy access to too much cheap money for too many individuals/businesses/organizations etc. But, it is purely and absolutely about money itself, and not about prices, cuz prices can vary independently of the money supply, and the supply of money can vary independently of the CPI....
That's what I realized when he was talking about food. There's no way that not eating in restaurants would prevent a relative food expenditure increase during global shortages. Unless, perhaps, the price of groceries was already artificially high to begin with! Hard to increase what is already near its cap.
One aspect that I missed is the Swiss policy on food imports. Which are mostly prevented using high tariffs. For example, meat is taxed with a whopping 35CHF/kilo making domestic agriculture pretty much competitive for essentials. That policy dates back to WW2 but in practice means that food is pretty expensive even for Swiss incomes and many Swiss people are traveling to neighboring countries for their weekly shopping. Living near the border, I can attest to this personally. Going to the supermarket on Saturday is a big no-go here, there is so many Swiss that one might not even find a shopping cart. And the exchange rates of the last 10 years have just reinforced that trend. However, this policy now helps as the rising market prices are effectively shut of off Swiss supermarkets and that is all inflation can measure.
I live in sudan where high inflation is the norm , over 300% inflation rate was recorded last year , that if the data was accurate anyways , commodities have become so expensive that some have stopped buying some things altogether , it is pretty messed up around here
From Wikipedia: "Most economists agree that high levels of inflation as well as hyperinflation-which have severely disruptive effects on the real economy-are caused by persistent excessive growth in the money supply."
Please stop flogging unregulated investment schemes. As FTX has shown, youtubers shouldn't sell your audience for a pay cheque. Other than that keep up the brilliant work.
The biggest point that keeps Switzerland's inflation low is its calculation. Comparing inflation in Switzerland to Germany makes no sense. Energy in Germany for example makes up a much larger amount of the basket of goods and services that is used to calculate inflation. People with lower incomes obviously see these effects sooner and of course lower incomes exist in Switzerland, too. As the country is pretty rich in general, the cost for living is higher, too. A company in Switzerland calculated how high the inflation would be if Switzerland used the same basket as Austria and just with that change, Switzerland's inflation would be at about 8%, too.
inflation is the increase in currency supply. Increased prices of goods and services is a likely outcome of this. Referring to inflation as simply the rise in prices of goods and services is to distract you from the dishonest taxation that occurs when central planners increase currency supply.
That would show the real cause of it which the governments don’t want the peasants to know. They injected so much cash that the peasants are going to feel the pain for w very long time.
@@Bob_Smith19 yeah, I think he is not being entirely forthright in saying it’s not the value of money falling but the rising of the price of products. Sure gas and crude prices are contributing but doubling of the money supply in 2 years is probably the main driver.
I've always been amazed at how neutral and well developed Switzerland really is. Apart from inflation, Switzerland also has a high rate of gun ownership but also extremely in really well. And speaking of arms, Switzerland is also famous for their Swiss Army Knives. As an Indian, Swiss GDP per capita is something we Indians should inspire to have. Love from India 🇮🇳🇨🇭
I do not get your rankings at all. You say it's the 20th largest country in the world, meaning it's in the top 10%, or near it, depending on how you count.. How does it only get a 7/10? It's either a 10/10 or a 9/10
Hey EE, can you do a video on how the Georgian lari has gone up against the euro, the pound, the dollar? Even though it is a poor country and this is quite bizarre?
It's probably because of a number of reasons such as: Exodus of Russian nationals into Georgia Economic stability since the presidency of Mikhail Saaskiavilli (2004-2012) which included things such as "no tax changes without a referendum" moderately low national debt:GDP ratio figures as compared to other European/Asian nations and a gradually more popular investment scheme for high net worth individuals (e.g. their "citizenship by investment" programs)
I guess mostly because like hundreds of thousands of wealthy russian have moved there this year, rent price in the capital has increased over 400% this year, and basically they bring all their money there, they exchange their rubles and dollars to the Georgian currency, increasing the demand for it. I'm not very sure if its good or bad for the Georgian economy, because most of the locals are suffering from all the price increase and rent increase, and being driven out of the cities. A big change is happening there. But I don't know much details, I don't live there. Imagine if like a bunch of Chinese millionaires or something, suddenly had to move to your city, the same thing would probably happen lol. Its an interesting topic though, it would be interesting to look more in depth about it. Because I think it's the first time anything like this has happened, usually what has happened before is mass refugees coming with no money and not really contributing to the economy of where they've moved to. But this is like the other way round, sudden influx of wealthy and smart and productive people
@@wclifton968gameplaystutorials yes but how does this work? The lari had been plunging during 2020. And the country has not been that financially stable. It's certainly nowhere near as stable as 85% of the rest of the European countries. It started collapsing in 2019, with Putin's restrictions on Russian travel to Georgia. And while yes, the Russians have come here in large numbers, what I want to know is the mechanism that creates such a strange bubble. Are the Russians bringing rubles, dollars, etc. It's much, much more complicated than you are imagining. It was 3 lari 40 tetri to the dollar in March it's now 2 lari 71 tetri today. And yet one doesn't feel any actual economic benefit from the Russian arrival. So what is causing it. Simply saying the Russians came here. Is like asking what is keeping me anchored to the ground and not floating away and simply answering gravity.
Hey, MI HERE. I love winter time. Since most Americans waste a lot of food, it's good that food costs more. Apparently, food waste has actually decreased since inflation has impacted food a great deal. For me, it's not a problem, b/c I buy only what I intend to use and eat every stitch of it.
You've spoken of luxury goods in a number of videos. I think of it this way: what's the net economic and/or social benefit for each of these options: * make 1000 watches that sell for $10 each * make 100 watches that sell for $100 each * make 10 watches that sell for $1000 each * make 1 watch that sells for $10000 It's hard to argue that the "1 watch" option can possibly be the best, economically or socially? You could also argue that if the quality of the $10 watch means they'll all end up in landfills, that's sub-optimal also.
Your mistake is to think that the "cost" of the watch is the bottleneck. The bottleneck are the resources. The resources to make a $10,000 is far less than the resources to make 1000 $10 watches. Both in labour and materials. Extrapolate this over the entire economy and it explains why some countries have a gdp per capita of 30 times more than others
Swiss do their grovery in italy, germany or France. I reckon that what you say makes sense on an academic level. Reality is that prices were already sky high before covid swiss took the chance to spend their money abroad (not only grocery also cras and holiday). Maybe prices haven't risen very much last year, still I would think of Switzerland as a country that nailed inflation. My grocery is stil far cheaper her in northern italy
Due to recent events, it seems like the Swiss economy didn't grow in 2022, while the US economy is now at ~$75,000 GDP per capita. However, Switzerland is still third after only Norway and Ireland, unless you count very small economies like Luxembourg, Liechtenstein and Monaco.
Have you been to Ireland to see how much of the country is dirt poor, they just have every US megacorps pay taxes there? also Norway is basically Europe's Saudi Arabia. if you measure in ppp norway falls behind Switzerland. Also Swiss per capita GDP (both nominal and ppp) is quite a bit higher than the the US's
2:14 That still sounds strange to me ... I mean as far as I know the word "Inflation" from both its meaning and historical usage means a decrease in currency value from inflating the supply. You actually give the reason for this belief yourself: different industries have different "inflation", which gives this usage of the word a compounded meaning, compounding both the value of money AND the price for goods and services.
After this video, which major developed economies are still missing from the leaderboard? It's hard to say since there is no permanent link to the leaderboard, but I'm thinking: Germany, Italy, Sweden, Belgium, Israel, Norway and Austria? Clearly, the focus shouldn't just be on developed economies, but this has been a mainstay in the rankings so far, so might as well complete this list :)
Inflation is defined as increase in the supply of currency or credit, not increasing prices. Increasing prices in a result of increased currency supply. There are local factors that affect prices but currency also doesn't move through the economy/country evenly.
Any future videos discussing Core inflation (non-food & energy) v top line inflation? Because of how the global market works for food and energy largely, theres often not tons governments can do to reign them in without very direct intervention like price controls (which usually end up a disaster), and I feel like Americans broadly do not understand this
The stability of the central bank SNB in Switzerland is completely different from that in the USA FED: here true values like gold, assets, real estate, there printing infinit mass of Fiat currency that is backed by the petrodollar-system and the status of being the world-leader economically and militarily. - In addition, not a word was told about the national debts: 42 % in Switzerland, 128 % in US- this might have be very important for stability and inflation .
I love how it is explained that Switzerland benefits by having a stronger currency, so imports from weaker currency countries effectively become cheaper, YET it is emphasised multiple times that inflation is nothing to do with money becoming less valuable!
This channel provides some of the most sailent, reasoned assessment of applied economics through a geopolitical lens that exists today. Thank you, EE team, for bringing clarity to these concepts which are too often considered either didactically or outright inaccurately.
3:08 "But there are other ways inflation can come about that are more specific". "Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output." - Milton Friedman. Who is right?
As an elder millennial, one of the few advantages is having lived through the Great Recession. My advice. Reduce unnecessary expenses, increase your savings by investing in financial markets and do not sell. One thing I know for sure is that diversifying your income can help insulate you from much of the craziness going on in the world.
True..... I'm thinking of investing in stocks or digital assets to grow my money for the first time, but I lack the in-depth knowledge and mental toughness to deal with these recurring market conditions. please any advice or pointer on how to outperform the market producing good returns
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy. The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $250k is down to $192k any recommendation;s to scale up my return;s during this crash will be highly appreciated.
I'd suggest a small allocation towards Gold , both ETF (digital /non physical) as well as actual physical Gold. But the key is your ASSET ALLOCATION, one must diversify across all the Asset Classes (a longish explanation but i could provide the same). Hence any one Asset Class should be a reasonable percentage of the whole. If you are a first time Gold Investor start with 5 to 10% of your total Investible Funds. My own percentage is higher at 20% but that's because of my personal belief that the coming year will see an appreciation in the price of Gold , no guarantee , repeating its only my opinion , based on my Investing experience.
My mom works for the government, specifically enforcing economic sanctions, and Switzerland's days of banking for the world's secretive elite are in absolutely no way behind them. Now that the UK is getting more heat for doing exactly that, the Swiss are just becoming even more of the go to destination for shady banking
Another big part is that from 50k on the bank, you get negative interest charges. Meaning you don't get money for keeping your money as money with hhe bank anymore. Also, Switzerland has a pretty huge pharma industry
you know your writting is real good when the audio alone works as a podcast. way to go lads. ps. i miss your old logo even if it was 2010s style of logo
Skip the waitlist and invest in blue-chip art for the very first time by signing up for Masterworks: masterworks.art/economicsexplained
Yay
I am extremely dissapointed that you are advertising this Masterworks scam again after all the critisism we gave you last time.
@@hieracium3317 It's probably not a scam per say, but it's most probably a poor investment.
How can art be considered as blue-chip investment in an economy like this? No way.
I know you've done a video about Norway's economy, but it's not on the leaderboard.
Can you please make a video about Norway and put it on the list?
I personally really disagree with pushing fractional ownership of art pieces. It just doesn't jive with me to have a UA-cam channel that educates about macroeconomics push personal finance investment products from new and unproven tech startups.
I feel the same way. But I’m seeing their ad blitz in my various podcasts too. So I just ignore them now
So… don’t buy any? Or don’t watch the channel?
Masterworks is the future FTX
@@James-qi6zi that's not the point... its that someone watching would buy into what's being advertised and will eventually lose a lot of money on it. For an economics channel should know better.
@@James-qi6zi Comments like this don't add any value to the discussion. People can like the channel but not the products it pushes. Channels depend on their community, and discussions like this are important for the community to have, so either contribute something to the discussion (why do you like these ads) or take your own advice and don't participate in the discussion if you don't like it.
Come on let's be honest, there's no wait-list to join Masterworks. If there were, they wouldn't be sponsoring so many UA-cam channels
You've got it wrong. You need to wait a long, long time before joining Masterworks ;)
Maybe they sponsored so many that now there’s a waiting list
I've been able to make a $100k since September from the recommendation I got here. The market is not bad after all
Quite impressive but HOW!!?😊 I know it's possible, my colleague at work always get 40K every week, I would appreciate if you show me how to go about it...
"My consultant is *Delia Luna* 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. Someone did mention her here afterwards
6:43
Just a side note: This map shows the boundaries of the EU, not which countries use the Euro
Yup only just learned there's a difference between the EU and the Eurozone
Heh. In another video he talked about Australia while showing the New Zealand flag
@@LilleyAdam while being an Australian
Indeed. Top quality troll. Or he pays someone to do the video fill.
Saw Sweden on the map, and directly looked for this comment
I love how masterworks makes a fake wait list and then passes off the investment pitch to raise capital to UA-cam channels.
I love how a lot of serious channels on topics like the economy and foreign policy are perfectly willing to shill for something that is likely another bubble, basically detached for the physical economy.
Sounds to me like the ftx of art......
Atleast they are nice enough to tell you where to skip the video to
@@richdobbs6595 Yeah and Masterworks pushes hard for you to get in it. I got in one of those 'list jumps' and these guys fricking bothered me to put money in it, even calling from the US (Im in Europe) out of nowhere. They create the illusion of scarcity yet go after you like sharks.
Creating a ‘false sense of scarcity’ is scammer strategy 101. Companies offering high quality product don’t use the kind of sales pitch on show here. It tells you everything you need to know about Masterworks. It’s surprising UA-camrs with a fairly legitimate reputation are interested in tying their name to it
A bit stereotypical to mention only banks, watches and chocolate. Switzerland has also world class robotics, tech, pharma, transportation and nutrition industries. Also a world leader in R&D and innovation. It is quite impressive what this small country is capable of.
In fact, by far the largest swiss exports are chemicals and pharmaceutical products.
yeah I felt that too. I just put in a pretty large order for ABB robots for my company just a few weeks back heh.
exactly! EE has been subpar lately with its research. Like how can you talk about its industries and not mention the pharmas and tech industries?
@@farhan3296 : Any schmo can watch CNBC videos for that stuff. EE is like a "basic" economics class!
@@eaterdrinker000 EE wasn’t like this though, it used to be pretty thorough. As for CNBC, I would rather read than watch their videos. Their editing is pretty dross for an outlet that big.
Sweden don't use the Euro, they use the swedish krone. There is a difference between EU, Eurozone, Europe, EEA and Schengen area, although they overlap greatly. Other countries wrongly labeled are: Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland and Romania.
Bulgaria's Lev is tied to the Euro. We just call it Lev, so in the case of a terrible crisis we can decouple it from the euro and debase our currency to do some monetary policies. 1 lev = 1.95euro, no matter what happens.
+ the swiss flag is square, not rectangle
+ Swiss chocolate is overrated
@@greggr8640 every square is a rectangle
@@_Hans_ wrong
Switzerland has a GDP of $813 billion and Ireland had a GDP of $398 billion, but he gave both countries a 7 in that category. Seems like Switzerland deserved an 8.
I agree, Switzerland should have got at least an 8 in that category.
Proportionally both countries are not far away because in Switzerland there’s more population so the GDP is higher.
@@Phil_br Switzerland had a GDP Per Capita of $93,457 and Ireland had $80,410. Both are definitely high, but they both got a 10 in that category, even though Switzerland's is $13k higher. It's a limitation of the ranking system. If he used decimal numbers, like Ireland gets a 9.4 and Switzerland a 9.8 for GDP per capita, it would make it more accurate.
He's talking about GDP is general, 800 billion is not crazy big for a GDP. There are nations will trillions and tens of trillions.
@@FlintIronstag23 In fact, he could use the actual numbers to make a formula for the ranking.
I love how whenever you mention Michigan you put in a shot of Chicago which is very much not in Michigan
Isä that as well. But I give the benefit of the doubt and say Lake Michigan is correct.
He knows. He does it to get people to comment about the "error". Did it work?
@@joebarrera334 Great strategy!
He put a NZ flag when talking about Australia in another vid. Maybe he's trolling.
@@LilleyAdam He is Australian, most likely a troll
It's not that Switzerland has low inflation, it's just that the rest of the world is catching up when it comes to prices 😁
not salaries though :/
How do you trust an economist that pushes art as an investment?
You don't.
he needs to make ends meet too.
@@wirmansyahchandrawijaya407 Sure, but there are better ways than peddling a start-up company that taps the popularity and perceived authority of certain youtubers to falsely represent/blatantly misconstrue the nature of the product to prey on retail investors for revenue.
It's the name of the game. Also, is fine art going up in value not more or less contingent on income inequality rising?
He's not an economist. Real ones debunked his videos for their subjectivity and narrative-pushing, with low research standards. You can see Money & Macros video about EE. M&M is an actual professor of econ at multiple unis so he knows his sht
In Switzerland the real inflation is higher than the official one. The real estate price is not included because it’s considered as investment and not a spending. In average the energy prices increased more than 30%
And healtcare increased a bit...
they're probably like whatever since they are rich af.
Yes, but as it is well explained in the video, energy cost represent a very low share of the cost for the average swiss family relative to other countries, so this legitimately has a limited impact on the overall inflation. Median salary in CH is 5-10x higher that some countries in eastern Europe and we still have cheaper electricity than most of those countries as end consumers, so a 30% increase of electricity price in CH will have 10x less impact on the CPI than in those countries
Inflation on real estate is not a bad deal and can provide hedge required. Albeit varies from property to property.
@@NathanQuinteiro not true at all my friend
EE: everyone watch this video and how art is used for money laundering
Also EE: today's video is sponsored by Masterworks
Hey man, just an opinion, i think your old logo is really much more memorable and recognizable. Not many youtuber have your kind of color and also your double 'E' for your abbreviation of your channel name.
Your current logo make you unfamiliar and also almost indistinguishable from some 'innovation' and 'engineering' channel because of the connotation of lamp.
My suggestion is you should try make a community post vote whether your viewer is recognize or liking your new logo.
Still love your content
Agree with the community poll idea, this new logo looks way more generic
australian guy says Michigan, and keeps showing photos of Illinois.. Kangaroo guy stay in your lane.
@@davidlee8303 Michigan doesn't deserve actual representation, even by Australians.
AGREED!
Agreed
The big reason why they do not have inflation problem is that everything is already very expensive there, so say a 10% raise in raw material prices in the international market will be a much smaller part of the cost of a total product there compared to countries with lower overall cost structures.
Interesting concept.
As a latvian, I would like to see full video about Latvia and its economics rollercoaster
Of course Latvia would get a 10/10 out of every category,...or else.
EDIT: Oops, thought you were talking about Latveria. Sorry.
Out of all the places I've travelled, Switzerland is hands down my favorite country to go to. Everything they do and make is awesome. They absolutely deserve all of the praise you can give for human craftmanship.
Yes their watches ⌚️ are great but now the cellphone has the time, dates 📅 and calculators does anybody need a watch anymore
@@asimhusain8087 you should try their food. And the woodworking!
@@apfelninja thanx for the suggestion ben I'll keep this in mind I've heard there cheese 🧀 is great
I found it very beautiful, very safe, very clean and awesome, but very...boring. Have visited it many times. Esp. the French part is...boring. Everything is closed after 7pm, everybody is at home. Other than that, great country.
swiss🇨🇭 saying „we are too poore to buy cheap shoes“
Just as a side note on the whole Masterworks discussion: the animation at 6:44 shows an animation of Sweden being part of the Euro-zone, and all though we are part of EU we still use the Swedish Krona.
Our neighbours Denmark uses their own krona aswell.
So does Norway.
He also seems to think that Chicago is in Michigan
Same for Hungary, Romania and Bulgaria... HUF, RON and BGN, not EUR
EE: Talks about Michigan
Also EE: Shows stock footage of Chicago Illinois
Please show the return of Art with recessions involved for the past century. The graph shown was up to 2008. Furthermore, it would have been nice to see a disclaimer for that shameless plug for MasterWorks.
As someone living in Switzerland, I have to say that this is absolutely not true. It was pretty expensive here before and is only getting worse, stores are upping their prices monthly.
Inflation only hurts people who cant get at least the invlation rate added to their sallery!It dosent matter if you have 10% inflation and you get 10% more money,or yiu only have 3% inflation and you get 3% more money!
@@brunoheggli2888 that ignores the changes in value of savings vs the changes in value of debt. High inflation (equalized with inflated wages) aids those who have more debt and harms those responsible enough to have saved.
This created the incentive to spend now and spend fast, driving inflation even higher.
@@klosnj11 You need a strong social net because most people just cant make rational desitions so they need a saftynet to protect them from themself
grüezi👋
I'm not sure you watched the video. The reported inflation is slightly above 3%, he didn't claim there's no inflation, just that it is very significantly below that of other developed economies. Your personal anecdotal evidence may only justify one of the 'flaws' the video points out to, which is the measure of CPI as an average basket of goods and services which may not reflect your personal basket of goods and services. My personal evidence as a Genevan citizen who regularly shops in Geneva as well as across the border in France, is that indeed inflation at home is significantly lower.
Hi EE, a couple times towards the beginning of the video you talked about Michigan, but you were showing the Chicago skyline which is in Illinois. Great video regardless. Cheers!
Probably accidentally got a Lake Michigan picture instead of a Michigan state picture
The masterworks thing sounds like tangible NFTs. I envision the masterworks project imploding in a similar way, for similar reasons. What happens when a person pours vinegar or superglues their face or buttcheeks to the art piece you “own”?
Other than that, I believe this video was very informative & am glad your team uploaded it. Take care, everyone.
Art is not an investment, it’s speculation -Seth Klarman
15:54 the growth figure in my opinion is way too high. You said in the past that growth is measured on a 10 years basis, and if you measure growth that way, then switzerland had an annual growth rate of around 1%. This growth should not give switzerland 7/10.
World band most recent data gave them growth of 1.2 in 2019. For a ranking of 7. Canada in 2019 had 1.9 for a ranking of 2. This is not a scientific ranking system, but a personal feeling system.
As a Swiss person, the end of this video feels like getting exam results, or revealing a poker hand. Very exciting.
Exactly my feeling, I'm ashamed to admit I felt really nervous. Overall agree with the ranking, except for Industry. As I understand it, GDP is the only absolute grade granted, while others are more per-capita based. If that is the case Switzerland should have a 9-10 given the degree of Industrialisation. There's much more than bank, watches and chocolate in Switzerland. Revenues from the pharma industries rivals those three combined. Machinery too. When a country manages to maintain the same rate of industrialization as Germany while their workers demands 2-3 times the salary, you must raise the standard of production to an astounding level and justify the markup to your customers, and the country has been doing so consistently for decades now.
@@NathanQuinteiro His rating system means very little tbh it’s quite subjective and without logic
@@NathanQuinteiro Switzerland is an important arms producer in the world (Sig Sauer) and also has important European agencies in it that dictate where capital flows and also attract capital (CERN) so yeah, quite a bit more than chocolate and luxury goods. Especially since stuff like chocolate that they produce is actually rather affordable and I doubt it contributes *that* much to Swiss economy
As a swiss i‘m pretty grateful for the economical stability we have in Switzerland
You are partly wrong there are two types of inflation demand pull and cost push....in the latter kind of inflation is not cost by supply shock but exponential growth of credit diverting to consumption.Although to your credit on a local level that is how the national catastrophe manifests itself but the root cause in this scenario still remains cheap credit.
australian guy says Michigan, and keeps showing photos of Illinois.. Kangaroo guy stay in your lane.
Cheap credit affects deman pull inflation, not cost push.
Everything about inflation was a mess.
I work for a UK subsidiary of a Swiss private bank. While that has its advantages, it also leads to some belittling feelings when your colleagues laugh off your cost of living concerns and can't fully comprehend why you can't just come and join them for a ski trip at the drop of a hat.
Tell them you can’t eat their cake cause you’re fighting for your bread 😂😂
In my country we call that "rich people problems"...
@@tokyomilmil This being an Econ channel, you might want to get the story right.
@@nunyabidness3075 What story right? Our U.K. friend is describing a perfect Marie Antoinette situation ～
Love all your videos, and content. Not to be annoying or a nuisance, but the stock footage you were showing for "Michigan" was actually Chicago, Illinois 😅
Wouldn't be surprised if he went off of lake Michigan for that and said good enough
@@jriver226 probably
It has to be noted that Switzerland has a very different calculation of the cpi compared to other countries in Europe. If you calculate it the same way they also have high inflation...
The aerial shot at 10:31 is one of the many reasons why I prefer to watch these videos on UA-cam!
Stunning! Where is this exactly?
@@misko2047 This is in switzerlands capital city Bern, the river is called Aare.
I think making the sponsor section more clear at the start of it is needed. In this video it can feel as part of it
I saw this video on my recommended feed and I scrolled past it not noticing it was EE, the old logo was so iconic I didn't notice the channel name until I saw it again
Well stated EE, about how a low inflation rate is not necessarily a good thing.
I’m Japanese and I feel like inflation is something mysterious occurring on the other side of the world (the 2022 Japanese inflation rate is estimated at 0.984% annually by the IMF). Still, people are furious at the government and the BoJ.
Honestly, this is not a time to promote the world's division through wars and conflicts over ideological differences. We have to cooperate.
The new profile icon may grow on me yet, but the old EE in bold typeface was a much more striking design.
I wonder why you don't mention the money printing in lots of other countries, thus making the Swiss Frank stronger as long as the Swiss money printer stays at a low speed.
I mean the Swiss Franc was already stronger than most currencies.
It's tough to share these videos with some people I'd like to because anyone new to the channel, skeptical to begin with, or not well versed in the UA-cam ecosystem is just going to be turned off when the video sneakily slips into a Masterworks advert. Instead of an educator they just see someone try to hock something scammy.
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.
People prefer to spend money on liabilities,Rather than investing in assets and be very profitable.
You should call this "an oversimplified view of Switzerlands Economy" - there is so much more depth to this topic
11:29 A small error has slipped in here.
You say Switzerland imports 305 billion, but in the chart the 305 billion are listened as export. Similarly, the following 302 billion in export are listed as import.
Numbers are wrong either way, for 2018 for example there was a 30 billion surplus, thats a lot for this small country. And most past years were like this.
I don't comment on videos ever, but as somebody from the Chicago area I feel compelled to do so now.
2:45 - You're saying Michigan, but showing the city of Chicago (the building in the center is the Sears Tower). Chicago is in Illinois, not Michigan.
I know to some people that's a difference with out distinction, but it's like saying New Zealand and showing the Sidney Opera House.
*Edit: and again at 3:17
As long as we're on about distinctions without a difference, it's the Willis Tower, not the Sears Tower.
The map at 6:46 shows all the countries in the European Union but some of them use their own currencies like Bulgaria, Romania, Poland and many others.
In the winter it gets colder and prices for heating oil goes up = inflation is possibly the worst take ever.
Yes. 1000 times yes
Isn't the point that heating takes up a greater portion of the CPI basket, and so inflation in hydrocarbons will have a bigger impact on overall inflation?
Hey there, licensed economist here, huge fan also.
Inflation is purely a monetary phenomenon, it's closely related to the fluctuations that occur within the market, but it's not necessarily a bad thing....
Also, inflation Is a decrease in the purchasing power parity of a currency, that occurs due to multiple imbalances in the "money supply VS economic output" equation, that can happen either due to too much "cheap money" in circulation, or due to the excessive facilitation of too easy access to too much cheap money for too many individuals/businesses/organizations etc.
But, it is purely and absolutely about money itself, and not about prices, cuz prices can vary independently of the money supply, and the supply of money can vary independently of the CPI....
Early Economics reporting team checking in!! 📉📈👍🙋♀️🙋♂️
It is hilarious irony that the average economics explained viewer is smart enough to see right through the average economics explained sponsorship.
The masterworks ad integration was way too intrusive. Made me lose trust in the video.
The swiss avoid inflation by making everything unaffordable there in the first place.
That's what I realized when he was talking about food. There's no way that not eating in restaurants would prevent a relative food expenditure increase during global shortages. Unless, perhaps, the price of groceries was already artificially high to begin with! Hard to increase what is already near its cap.
I love how when mentioning Michigan, you show the skyline for Chicago Illinois instead of Detroit
One aspect that I missed is the Swiss policy on food imports. Which are mostly prevented using high tariffs. For example, meat is taxed with a whopping 35CHF/kilo making domestic agriculture pretty much competitive for essentials. That policy dates back to WW2 but in practice means that food is pretty expensive even for Swiss incomes and many Swiss people are traveling to neighboring countries for their weekly shopping. Living near the border, I can attest to this personally. Going to the supermarket on Saturday is a big no-go here, there is so many Swiss that one might not even find a shopping cart. And the exchange rates of the last 10 years have just reinforced that trend. However, this policy now helps as the rising market prices are effectively shut of off Swiss supermarkets and that is all inflation can measure.
🔝🔝inbox💬for more insight's!
I live in sudan where high inflation is the norm , over 300% inflation rate was recorded last year , that if the data was accurate anyways , commodities have become so expensive that some have stopped buying some things altogether , it is pretty messed up around here
They stopped buying things in high inflation... Shouldn't it be the opposite?
From Wikipedia:
"Most economists agree that high levels of inflation as well as hyperinflation-which have severely disruptive effects on the real economy-are caused by persistent excessive growth in the money supply."
Please stop flogging unregulated investment schemes. As FTX has shown, youtubers shouldn't sell your audience for a pay cheque.
Other than that keep up the brilliant work.
Simply because Switzerland’s M3 money supply is 10% higher than start of 2020. UK meanwhile is 28% higher. Inflation is a monetary phenomenon
Switzerland actually heavily depends on petrol and gaz (~2/3 of energy consumption)
The biggest point that keeps Switzerland's inflation low is its calculation. Comparing inflation in Switzerland to Germany makes no sense. Energy in Germany for example makes up a much larger amount of the basket of goods and services that is used to calculate inflation. People with lower incomes obviously see these effects sooner and of course lower incomes exist in Switzerland, too. As the country is pretty rich in general, the cost for living is higher, too. A company in Switzerland calculated how high the inflation would be if Switzerland used the same basket as Austria and just with that change, Switzerland's inflation would be at about 8%, too.
inflation is the increase in currency supply. Increased prices of goods and services is a likely outcome of this. Referring to inflation as simply the rise in prices of goods and services is to distract you from the dishonest taxation that occurs when central planners increase currency supply.
🔝🔝inbox💬for more insight's!...
Would be interesting to see a comparison of the recent increases in the money supply to inflation across countries.
That would show the real cause of it which the governments don’t want the peasants to know. They injected so much cash that the peasants are going to feel the pain for w very long time.
@@Bob_Smith19 yeah, I think he is not being entirely forthright in saying it’s not the value of money falling but the rising of the price of products. Sure gas and crude prices are contributing but doubling of the money supply in 2 years is probably the main driver.
2:49 you probably made a lot of people from Michigan upset by showing an image of Chicago (which is in Illinoi) when you were talking about Michigan
Illinois😉
I've always been amazed at how neutral and well developed Switzerland really is. Apart from inflation, Switzerland also has a high rate of gun ownership but also extremely in really well. And speaking of arms, Switzerland is also famous for their Swiss Army Knives. As an Indian, Swiss GDP per capita is something we Indians should inspire to have. Love from India 🇮🇳🇨🇭
I do not get your rankings at all. You say it's the 20th largest country in the world, meaning it's in the top 10%, or near it, depending on how you count..
How does it only get a 7/10? It's either a 10/10 or a 9/10
I agree that a new Scottish pound would devalue from parity with the UK pound by 18-25%, but that's something Switzerland would love
Hey EE, can you do a video on how the Georgian lari has gone up against the euro, the pound, the dollar? Even though it is a poor country and this is quite bizarre?
Isn't this just from the Russian exodus to the country?
It's probably because of a number of reasons such as:
Exodus of Russian nationals into Georgia
Economic stability since the presidency of Mikhail Saaskiavilli (2004-2012) which included things such as "no tax changes without a referendum"
moderately low national debt:GDP ratio figures as compared to other European/Asian nations
and a gradually more popular investment scheme for high net worth individuals (e.g. their "citizenship by investment" programs)
I guess mostly because like hundreds of thousands of wealthy russian have moved there this year, rent price in the capital has increased over 400% this year, and basically they bring all their money there, they exchange their rubles and dollars to the Georgian currency, increasing the demand for it. I'm not very sure if its good or bad for the Georgian economy, because most of the locals are suffering from all the price increase and rent increase, and being driven out of the cities. A big change is happening there. But I don't know much details, I don't live there. Imagine if like a bunch of Chinese millionaires or something, suddenly had to move to your city, the same thing would probably happen lol. Its an interesting topic though, it would be interesting to look more in depth about it. Because I think it's the first time anything like this has happened, usually what has happened before is mass refugees coming with no money and not really contributing to the economy of where they've moved to. But this is like the other way round, sudden influx of wealthy and smart and productive people
@@bananenbrot958 What does 'just' mean?
@@wclifton968gameplaystutorials yes but how does this work? The lari had been plunging during 2020. And the country has not been that financially stable. It's certainly nowhere near as stable as 85% of the rest of the European countries. It started collapsing in 2019, with Putin's restrictions on Russian travel to Georgia. And while yes, the Russians have come here in large numbers, what I want to know is the mechanism that creates such a strange bubble. Are the Russians bringing rubles, dollars, etc. It's much, much more complicated than you are imagining. It was 3 lari 40 tetri to the dollar in March it's now 2 lari 71 tetri today. And yet one doesn't feel any actual economic benefit from the Russian arrival. So what is causing it. Simply saying the Russians came here. Is like asking what is keeping me anchored to the ground and not floating away and simply answering gravity.
Hey, MI HERE. I love winter time. Since most Americans waste a lot of food, it's good that food costs more. Apparently, food waste has actually decreased since inflation has impacted food a great deal. For me, it's not a problem, b/c I buy only what I intend to use and eat every stitch of it.
I'm not sure why Ireland is higher on the list. It looks like they have a weaker foundation than Switzerland.
3:18 Chicago Illinois picture vs Michigan named.
Thank you for the video EE!
The images and video that were shown when discussing Michigan were of Chicago which is in Illinois.
You've spoken of luxury goods in a number of videos. I think of it this way: what's the net economic and/or social benefit for each of these options:
* make 1000 watches that sell for $10 each
* make 100 watches that sell for $100 each
* make 10 watches that sell for $1000 each
* make 1 watch that sells for $10000
It's hard to argue that the "1 watch" option can possibly be the best, economically or socially? You could also argue that if the quality of the $10 watch means they'll all end up in landfills, that's sub-optimal also.
Your mistake is to think that the "cost" of the watch is the bottleneck. The bottleneck are the resources. The resources to make a $10,000 is far less than the resources to make 1000 $10 watches. Both in labour and materials. Extrapolate this over the entire economy and it explains why some countries have a gdp per capita of 30 times more than others
Swiss do their grovery in italy, germany or France. I reckon that what you say makes sense on an academic level. Reality is that prices were already sky high before covid swiss took the chance to spend their money abroad (not only grocery also cras and holiday). Maybe prices haven't risen very much last year, still I would think of Switzerland as a country that nailed inflation. My grocery is stil far cheaper her in northern italy
Due to recent events, it seems like the Swiss economy didn't grow in 2022, while the US economy is now at ~$75,000 GDP per capita. However, Switzerland is still third after only Norway and Ireland, unless you count very small economies like Luxembourg, Liechtenstein and Monaco.
Have you been to Ireland to see how much of the country is dirt poor, they just have every US megacorps pay taxes there? also Norway is basically Europe's Saudi Arabia. if you measure in ppp norway falls behind Switzerland. Also Swiss per capita GDP (both nominal and ppp) is quite a bit higher than the the US's
Things are already costly in Switzerland 🇨🇭 😅, compared to any other European countries
2:14 That still sounds strange to me ... I mean as far as I know the word "Inflation" from both its meaning and historical usage means a decrease in currency value from inflating the supply.
You actually give the reason for this belief yourself: different industries have different "inflation", which gives this usage of the word a compounded meaning, compounding both the value of money AND the price for goods and services.
After this video, which major developed economies are still missing from the leaderboard? It's hard to say since there is no permanent link to the leaderboard, but I'm thinking: Germany, Italy, Sweden, Belgium, Israel, Norway and Austria? Clearly, the focus shouldn't just be on developed economies, but this has been a mainstay in the rankings so far, so might as well complete this list :)
It was a very very clever way to add the announcement of Masterworks in the video
Inflation is defined as increase in the supply of currency or credit, not increasing prices. Increasing prices in a result of increased currency supply. There are local factors that affect prices but currency also doesn't move through the economy/country evenly.
3:15 “Michigan might have a cold winter” *shows Chicago*
Ironic
Any future videos discussing Core inflation (non-food & energy) v top line inflation?
Because of how the global market works for food and energy largely, theres often not tons governments can do to reign them in without very direct intervention like price controls (which usually end up a disaster), and I feel like Americans broadly do not understand this
This is very true.
The stability of the central bank SNB in Switzerland is completely different from that in the USA FED: here true values like gold, assets, real estate, there printing infinit mass of Fiat currency that is backed by the petrodollar-system and the status of being the world-leader economically and militarily. -
In addition, not a word was told about the national debts: 42 % in Switzerland, 128 % in US- this might have be very important for stability and inflation .
Inflation is always and everywhere a monetary phenomenon.
I love how it is explained that Switzerland benefits by having a stronger currency, so imports from weaker currency countries effectively become cheaper, YET it is emphasised multiple times that inflation is nothing to do with money becoming less valuable!
I'd love to see a Video on the failing economy of Puerto Rico and how it got there.
I love your videos and would love your POV on the topic
Just for future reference: the footage you kept on using for Michigan was Chicago, Illinois.
This channel provides some of the most sailent, reasoned assessment of applied economics through a geopolitical lens that exists today. Thank you, EE team, for bringing clarity to these concepts which are too often considered either didactically or outright inaccurately.
Can you put an indicator in the part of the video when you are doing sponsorship, so we know that it's an ad instead of it being part of the video.
I liked the old logo better.
Japan also has less than 3% inflation but not mentioned in the low inflation list, because...
I would say how Switzerland became one of the richest countries on Earth is something to learn from them.
A good governmental system, the Bank for International Settlements, and Eurodollars had a big part to play
So other countries should also get rich by banking for Nazis?
Nazi gold, neutrality.
3:08 "But there are other ways inflation can come about that are more specific".
"Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output." - Milton Friedman. Who is right?
Great video as always! Btw, I liked the old logo better.
As an elder millennial, one of the few advantages is having lived through the Great Recession. My advice. Reduce unnecessary expenses, increase your savings by investing in financial markets and do not sell. One thing I know for sure is that diversifying your income can help insulate you from much of the craziness going on in the world.
True..... I'm thinking of investing in stocks or digital assets to grow my money for the first time, but I lack the in-depth knowledge and mental toughness to deal with these recurring market conditions. please any advice or pointer on how to outperform the market producing good returns
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy. The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $250k is down to $192k any recommendation;s to scale up my return;s during this crash will be highly appreciated.
I'd suggest a small allocation towards Gold , both ETF (digital /non physical) as well as actual physical Gold. But the key is your ASSET ALLOCATION, one must diversify across all the Asset Classes (a longish explanation but i could provide the same). Hence any one Asset Class should be a reasonable percentage of the whole. If you are a first time Gold Investor start with 5 to 10% of your total Investible Funds. My own percentage is higher at 20% but that's because of my personal belief that the coming year will see an appreciation in the price of Gold , no guarantee , repeating its only my opinion , based on my Investing experience.
I like this video the moment you mentioned you made a spotify for these!
Didnt know Switzerland could pick neutrality against global recessions.
Devs Nerf please.
by maintaining capital inflows from oligarchs. Don't worry, they'll get the inflation when the oligarchs pull their money back out
Not sure if you'd be up for this, but can do a video on investing in wine? After seeing the ad on investing art, it reminded me this was also a thing.
My mom works for the government, specifically enforcing economic sanctions, and Switzerland's days of banking for the world's secretive elite are in absolutely no way behind them. Now that the UK is getting more heat for doing exactly that, the Swiss are just becoming even more of the go to destination for shady banking
Another big part is that from 50k on the bank, you get negative interest charges. Meaning you don't get money for keeping your money as money with hhe bank anymore.
Also, Switzerland has a pretty huge pharma industry
you know your writting is real good when the audio alone works as a podcast. way to go lads. ps. i miss your old logo even if it was 2010s style of logo
Would love to see a video on Germany in the light of the current events and also on your leaderboard
Masterworks the next ftx.