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Man keep making this gold. Honestly man sometimes I get really down, hard to laugh but I remember one time I saw one of your videos and I got a genuine laugh. And your stuff with internet historian lol. Cheers brother
Here's a link to the song if anyone is interested ua-cam.com/video/YNm3Ggv01Ns/v-deo.html There are plenty of other Bardcore covers of many popular songs if this sort of thing takes your fancy.
I remember my grandfather telling me when he was on a business trip to US from Yugoslavia he stayed at a fancy hotel and paid in cash. They looked at him like he was a leper and avoided him like the plague. To make interactions with people easier he was practically forced to use credit card.
Not surprising to be honest. Credit cards nowadays means you are traceable, and also creditable for extras like the mini bar which means reduced risk for the hotel. Using cash can be an indication that the money is not completely legal/untaxed and might actually force the hotel to do extra checks.
Same in NZ, I went there as a tourist (pre covid) and everyone pays for everything by card, even paying for a drink in a bar with cash seemed odd to them.
I worked as a debt collector for a few years for one of the credit card companies you mentioned in this video and man it's terrible. Just about every collections department anywhere offers commission based on how much debt you collect so you're incentivized to treat every client as numbers instead of people. You mentioned in this video that most people rack up debt because of life's emergencies causing missed payments instead of reckless spending and you're 100% correct. Hearing stories about how loved ones died jobs were lost card members got cancer or other permanent illnesses and after all that you're expected to convince them to pay you money they don't have it's a sad industry.
“Hearing stories about how loved ones died jobs were lost…” did all that stuff happen or are you sure people wouldn’t just give any excuse to get out of paying debts?
@@BlackWolf207 Both some were definitely trying to avoid paying but many you can hear the genuine pain in their voice. Often we even had a department verify if the information was true.
@@Bushdid7eleven "Used to." Ye of little faith. Heh nah, I'm wondering what it takes for a person to work a job like that (even to start, much less carry on). I'm hoping they left that vampiric place and have been making up for their soft cannibalism. ...OP...?
I started my legal career in 2004. By 2007 I handled solely bankruptcy and SSA disability clients - it was disturbing how many bankruptcies I handled between 2007 and now. Many people are still greatly affected by the recession. It’s was traumatizing and horrid to watch these people suffer, but I did the best I could to try to ease their pain. I’m disgusted by the companies and political figures who contributed to that nightmare. People lost more than money and things due to it all… it was and will forever be heartbreaking to me.
And none of the people who were directly responsible for the recession went to jail apart from that one guy who became the scapegoat for the entirety of Wall Street and political class of the West. And it’s gonna happen again, and again, and again, the core of the system requires it to happen in cycles.
Hard agree, I think a large part of todays current homeless/mental health crisis is from yesteryears robbery of the life savings and security nets of millions of people. Some were able to recover, some were able to make it work and some were just barely able to survive.
Proud owner of the title of "Deadbeat" for always paying my card off on time every month. Even more negative points because I pay in cash so often. Spend wisely gamers.
I'm in a pretty similar credit card situation, but I was duped into a semester of college before realizing I absolutely didn't need it. _Sooo_ glad I went to that "good" college that taught me almost nothing and put me 10k into the hole before I even turned 18.
@@baconsir1159 College is definitely not for everyone, and the sheer amount of marketing that "you have to go to college or else you'll be a homeless drug addict" which has ingrained itself into the public conscious of Americans is one of the biggest long cons ever. Universities of course wouldn't let anyone realize there are great alternatives such as taking up a trade or going to community college before transfering for a full degree to save a big chunk of change. Glad you realized it wasn't for you before you got any further down the debt hole.
@@Insky_ Fair enough, but as an American I can't speak for any other country than my own. I'd assume the situation is similar in most of the Western world but I don't have evidence to back it up.
I love being in the left half "deadbeat" category. I never run my cards up and always pay them off. It makes me proud to know my credit company probably hates me and doesnt make a dime.
I'm sure in your research you probably found this info but since it was a long vid it didn't make the cut, but I always found it crazy how banks used to set up tents at colleges and offer students free swag and gift cards to sandwich shops to get them to sign up for credit cards. It caused a lot of students to go into even more debt than they were already in because they didn't know any better and they got these cards and just thought they didn't have a set time frame to pay it back. Lots of interest that I'm sure parents had to bail their kids out of. (Just me simping for Ordinary Things) You're one of the few people on UA-cam still making great content and I thank you for it!!! :) I can't support you via Patreon because I have student loan debt but I don't skip your ads and I always share your vids with my friends and family.
Yep - at my school, it was a free Domino’s Pizza if you signed up for a credit card. In the whirlwind of orientation, clubs, frats, and freedom, they got a lot of students.
Banks are so eager to give you credit cards that a woman at one bank tried to convince me to sign-up for one while I was under age until I informed her I was only 16. I blatantly looked underage (there with my mother and everything) but it was only when I stopped her that she realised she was so desparate to get me on the debt train she didn't even stop to think I probably wasn't even old enough...
@@maskettaman1488 i think the idea is when you are drunk your impulse control goes with you so the presence of a credit card makes you have the ability to put yourself in debt then forget about it, although I do agree its just part abd parcel with the idiocy of alcohol consumption that happens in campuses
Its not an app, its a newsletter delivered direct to your email inbox. That being said, i subscribed to it when ordinary first shilled for it. Its not bad, its another take on the news i wouldn’t get from a bigger news outlet and thats always beneficial for being news-media-literate.
You might be interested in doing a video on urban sprawl and car dependent infrastructure. It'd be perfect for your casually delivered horror stories of human design.
Eh, debt's just a tool. Good debt (under 4% APR and used for things that pull in greater than 4% ROI), is like an aluminum-housed wormdrive Skilsaw in the hands of a skilled carpenter. Bad debt is like a cheap plastic Chinese circular saw in the hands of an untrained kid with spatial reasoning problems.
16:58, I think it’s important to note that American Express actually kicks you off if you miss too many payments. They make the majority of their money from annual card fees, not late fees.
Is it bad that I'm focusing more on learning about your method of presentation and less on the actual topic of the subject? I really love how you explain everything in your own way.
When I turned 18 I got access to some money my grandad saved up for me. I was dumb and just got friends that were just like me. So I had fun with it, spunked it all away. I was scared to tell my mum how irresponsible I had been. I ended up breaking down and 'confessing.' She wasn't mad. She said I had learned a lesson, and that I had spent what I had and there was nothing left. Then she said: "only ever spend what you have, never get a credit card." In subsequent years I found out that after my parent's divorce she basically lived credit card to credit card, even borrowing money from friends, just to not let us notice that things were different at Christmas. She's now payed off a mortgage by herself.
Okay, but you should still own a credit card. Even if you want to pay for everything in pounds, put some kind of consistent spending you do every month and pay it off on time like a Netflix subscription or Petrol costs to build credit history. You need good credit history in order to access any kind of loan, good places to rent, and jobs that require handling money.
@@lego007guym8 Perfectly fine, just understand that you won't be able to participate in legal wealth generation in this society. Be it through a small business, a house you own, or anything related to a bank. It's a rather low risk activity to do what I mentioned above and the flippancy which commenters suggest to never own a credit card is concerning.
I hate how we’ve been repealing regulations passed after the great depression meant to prevent the rampant deregulation that caused the great depression. We faced economic prosperity following that period for half a century and like a dieter grabbing a donut because they’ve been good that week we’re weakening our institutions meant to guard against corruption and greed.
i don't believe the laws mentioned in this video repealed laws against mortgage backed securities or sub prime loans since those have been a thing for a long time. Also i'd hardly call the era between the 50-90's an era of prosperity as there had been many recessions between, declining purchasing power, and "wage stagnation". I'd probably change that window to the 70's to modern day as there is a stark difference between that time period and the period between the late 40's to late 60's.
But it was the regulations that started the financial crashes, especially the Great Depression, just to mention the tax tariffs that directly caused the stock market crash after the law was introduced in American Parliament. Great depressions followed an era of increasing governments oversight in the market, that continued to be passed in the USA and prolonged the depression well into WW II
Ty for teaming up with the internet historian. Otherwise I never would have found your channel. Funny vids presented in an informational way, commentary is relatable... I really like your channel. Time to watch every video you've posted lol The only UA-cam so far where I did t mind sitting through the paid promotion too. Keep it up!
The Barbie girl classical music in the background made me laugh really hard, in fact the semi classical ambience to your videos provide a comfortable video to watch
David Graeber's "Debt: the first 5000 years" is a great book on this topic, a history of economics basically. Till the 19th century, debt was actually the main way regular people traded between themselves. You would rarely pay with coin at the local grocers'. Direct barter, where you exchanged nails for goats would never happen. People just remembered who owed what and when the harvest came or you slaughtered a pig, you remembered to pay back that neighbor that gifted you a pair of boots that one time. Coin was only invented to pay taxes to a state, you would rarely use it in day to day life, and there wouldn't be enough metal to go around for daily transactions.
Yea it's pretty funny that educated capitalists think that people in feudal Europe(or any other time without money) would wake up every day and exchange some of their belongings or skills for bread and the whole economy was some fucking item-transaction circus.
I'm currently reading a history book on Persia and they are the ones that invented coins for exactly the reason you mention, to gather taxes from their people.
@@vizziiiiob I believe that to be a bit too idealistic and narrow to attribute that to only capitalists. I'm fairly certain most educated folks tend to believe the time prior to the industrial revolution consisted of plague, famine, filth, and disease with little economic activity outside of government transactions. Shoot, modern teachers focus solely on government transactions, not on day to day living, so that would color how folks view things.
I believe most education focuses on the large transactions, such as military or state activity, over small transactions. Hence, when you hear a king paid his soldiers in coins, you do not think twice about it. In such a manner, I believe most soldiers ended up struggling unless they found a wealthy merchant capable of translating the worthless coin into something more prudent such as food, land, or equipment.
@@PixelLife101 literally been preaching the same things as he is now. are you perhaps just regurgitating some slogan you read on a political subreddit or facebook group? I would love to take back my words if you show me proof though, if you can find any
@An Equal to be fair multi billionaires are much more common these days and the amount of tax they pay is a joke. It’s like filling a bath tub from the ocean, they don’t even notice.
I was linked to this video via Facebook Messenger, and I couldn't get it to actually load in UA-cam proper. Thought you should know~ I watched the whole video on there because it was so great.
Honestly ever since I paid off my student loans I've been vehemently against debt. While I'm still a bundle of anxiety I've become a much smaller bundle of anxiety. I don't think people realize just how emotionally crippling it is. Every job being the only thing between a person and homelessness because the collections people will come for them.
I like how the voice over for his mid-video ad was not quite long enough. So, he slightly stretched it, so it would meet the time requirment in his contract, but also very slightly deepened his voice. Chef's kiss.
You missed the fact that credit cards charge fees to merchants to accept them. This makes prices go up slightly for everyone. If visa and mastercard cost a merchant 2% of the sale price and Amex 3% you can bet that merchants charge at least 2% more to make up for processing fees!
As a kid I remember my parents filing for bankruptcy twice bc of credit cards, all the while crying and wondering what had happened. They tried to be careful but they kept getting caught in that debt cycle. It was so sad to see and as an adult I wish I could go back in time and tell them that they weren't stupod ir lazy, they were mislead ☹
That's the thing though, they were stupid. You pay it off in full. You don't buy what you can't afford. That isn't mislead (unless they were being charged fees not listed in which case they could sue)
Life Hack: open a credit card to pay only your pre-existing bills with. You’ll raise your credit, pay nothing extra, AND the bank hates you for it. It’s a win/win/win
I put just about everything on credit. Pay it off each month and collect my cash rewards. I then invest that free money. Anyone who isn't paycheck to paycheck should do this I think.
I harbor a fair amount of resentment over the fact that I've learned more about credit in the past 26 minutes than I ever did in 14 years of school and over 40 years of life.
@@gimpinmypants Schools can most definately be blamed as the education system focuses heavily on just memorising facts rather than actually teaching students practical skills or critical thinking.
@muckymucks That's a rather old school way of looking at education. No seriously education is a way of escaping generational poverty which won't be possible if the schools aren't responsible for teaching children.
I still cannot get my head around this as a central european. Everyone I know here saves money and unless you are poor (at which point you get financial aid), you only rly buy things with money you've saved, rather than go in debt and pay back the debt. Noteable exceptions are houses, but those work different, after you can already sell them back after 3-4 years.
The main source of it is education. Americans in poorer areas receive less education, less financial education, and less aid when it comes to income overall
@@larsonracies8636 Not just in poorer areas, but now there are acting lobbies attempting to lessen educational standards even further in all public schools, beginning in California within the last year. Aid isn't an issue as it is built on debt and interest, and government aid can't meet the costs associated with for profit colleges. It's easy to go to a trade school and come away in the green with no cash paid for a certificate (I did it twice using a combination of Hope and Georgia's Zell Miller Grant). In my mind, the terminal debt crisis begins with a lack of quality education on credit. I never learned any of what was in this video in public school, trade school, or college, but was instead fed over 100 credit hours working on my BA about cultural studies. Even after completing my B.A., I was left without any specialized knowledge which would help me get a job in my chosen profession, like software skills.
Very good video. Depressing as all fuck but that's why it's a very important topic to cover. Also very fun to see millennials going into their third "once in a lifetime" economic crisis.
You know how many people say “i love history” but don’t know anything like this. Or anything that happened with the culture industry overall. Hopefully your channel makes that type of information more important to learn to people. A shame people can sit around arguing about ideologies and propaganda when there is actual issues they should be avoiding. Cough cough credit cards etc
I had a buy now pay later ad on this video, run by Australias biggest bank. They're ditching credit cards and shifting into buy now, pay debt off continuously cards.
Bruv you know how much history there is? I’m sorry for being interested in certain things from the past but not knowing about the history of credit and it’s role in the fucking Roman empire
The credit crunch hit simultaneously with my adolescence, it played a significant impact in my development. For instance, any word ending in the sound "-ebit" fills me with deep unease, a great sense of cringe and an accumulative murderous rage. It has made my career as a frog biologist incredibly difficult.
The notion of 'selling debt' is so incomprehensible to me that I can't wrap my mind around it , no matter how it's presented. It's a pure simple unethical scammish scheme , and to think that banks were bailed out makes me wonder on the validity of the system we rely on :-o
Debt is the promise of money. So banks treat as money and buy stuff with it. Then, every now and then, something goes terribly wrong and everyone is reminded why using debt as money is a terrible idea.
I still have yet to get a credit card and I’m quite upset that I will struggle in obtaining a car or a house- even though I have the necessary money in full. I simply want to avoid debt at all costs, given how it has harmed my family.
Basically you just have to get a car loan with the lowest interest rate you can get. Start shopping around your local credit unions and avoid the big banks.
If you're financially stable enough, there isn't much harm in using credit cards to pay for things that you already have the money for in order to build up credit, and then just paying off those cards right when you get home from shopping. The slippery slope is when you start using the card to pay for things you DON'T have the money for.
There are some companies that still under write for housing loans without credit established, just hard to find them and it’s a little more involved process. Used cars are just as reliable as new ones and if you can pay cash for most or all at even a dealership they will find a way to get you in a car with no credit
Not sure what country you live in but here in Australia not having a credit card really does not hurt your chances of obtaining a home loan as much as a stable income and solid deposit do. Best thing to do if actually serious is talk to a mortgage broker, who at least here, works with you seperate from the banks and gives real advice to what your buying power is.
Speaking from experience, the credit card won’t help you get the car. My family pushed me to get credit cards as I entered college so I could “start building my credit score” and then were shocked when it didn’t work like that. If you’re reliable with money and have what you need to buy what you need, all you should have to do is get someone with a good credit score to co-sign for you. Once you pay for whatever you’re buying it’ll boost your score and the person who signed will be off the hook too.
There is no channel that elicits a faster urgency in me to drop everything I'm doing in order to watch a new upload. That's you, dude. Your work is outstanding and it's doing a lot of good for the world in many different ways, primarily educationally. Thank you man
Thanks Morning Brew for filling my 🧠 on the daily - sign up for free here bit.ly/mbordinarythings
#hi
Do I get daily coffee
Love your videos
Yes ua-cam.com/video/2jeeTS6dklU/v-deo.html
True...
Man keep making this gold.
Honestly man sometimes I get really down, hard to laugh but I remember one time I saw one of your videos and I got a genuine laugh. And your stuff with internet historian lol.
Cheers brother
Gold is the money for the kings
Silver is the money for the nobility
Copper is the money for the people
Debt is the money for the slaves
Nah it's Det wot other people owe me vs debt wot I owe other people
Dirt is the money for the worms
Bitcoin is the money for emperors
Dogecoin is money for the dogs
Gotta chase that clout!
The acoustic rendition of “Barbie girl” is such a god damn genius addition with the layers of plastic metaphors on top of an episode about credit
Its fantastic
🤣🤣 as soon as I heard it, I searched the comments
Here's a link to the song if anyone is interested ua-cam.com/video/YNm3Ggv01Ns/v-deo.html There are plenty of other Bardcore covers of many popular songs if this sort of thing takes your fancy.
Heard it immediately, and was singing to it in my head 😂
@@essee3222 turns my bank to plastic
“You carry clout” may be the best slogan I’ve ever heard 😂
How could I carry any debt when I’m carrying clout 😂
@@greendude0420 Statistically you have two arms so you could
Louis what are you doing over here. Go make videos
Sounds like a STD man my ex gave me clout. That was a rough month
@@skprog what are you: 40?
I remember my grandfather telling me when he was on a business trip to US from Yugoslavia he stayed at a fancy hotel and paid in cash. They looked at him like he was a leper and avoided him like the plague. To make interactions with people easier he was practically forced to use credit card.
Wtf... XD
I live in the US and sometimes get that because I only pay with cash
Not surprising to be honest. Credit cards nowadays means you are traceable, and also creditable for extras like the mini bar which means reduced risk for the hotel. Using cash can be an indication that the money is not completely legal/untaxed and might actually force the hotel to do extra checks.
@@nenekotan hotel is basicaly a police/fbi branch with beds these days.
Same in NZ, I went there as a tourist (pre covid) and everyone pays for everything by card, even paying for a drink in a bar with cash seemed odd to them.
The most mind blowing thing in this video was hearing the world "clout" in an old timey credit card commercial
For real I had to check the comments to make sure I wasn’t the only one thinking wtf
Same!
Wait, that was actually in the commercial? I thought he added it for a joke
damn i’d hate to be there when someone calls you an old timer when youre 40
Even back then people were chasing clout
I legit can’t pay attention to this while “I’m a Barbie girl” is the fucking background music
Me either lmao
I thought I was the only one 🤦🏻♂️
Is this what true suffering feels like?
Im just singing the song in my head
First to say same cause I was also distracted, and wasn’t it like a medieval cover?
I worked as a debt collector for a few years for one of the credit card companies you mentioned in this video and man it's terrible. Just about every collections department anywhere offers commission based on how much debt you collect so you're incentivized to treat every client as numbers instead of people. You mentioned in this video that most people rack up debt because of life's emergencies causing missed payments instead of reckless spending and you're 100% correct. Hearing stories about how loved ones died jobs were lost card members got cancer or other permanent illnesses and after all that you're expected to convince them to pay you money they don't have it's a sad industry.
“Hearing stories about how loved ones died jobs were lost…” did all that stuff happen or are you sure people wouldn’t just give any excuse to get out of paying debts?
@@BlackWolf207 Both some were definitely trying to avoid paying but many you can hear the genuine pain in their voice. Often we even had a department verify if the information was true.
Ahh jeez but i got in a car accident ahh jeez i spend money on deez pills man i cant pay 300 dollaz
So you made money off people exploited by massive banks. So sorry to hear your story.
@@Bushdid7eleven "Used to." Ye of little faith. Heh nah, I'm wondering what it takes for a person to work a job like that (even to start, much less carry on). I'm hoping they left that vampiric place and have been making up for their soft cannibalism.
...OP...?
I started my legal career in 2004. By 2007 I handled solely bankruptcy and SSA disability clients - it was disturbing how many bankruptcies I handled between 2007 and now. Many people are still greatly affected by the recession. It’s was traumatizing and horrid to watch these people suffer, but I did the best I could to try to ease their pain. I’m disgusted by the companies and political figures who contributed to that nightmare. People lost more than money and things due to it all… it was and will forever be heartbreaking to me.
And none of the people who were directly responsible for the recession went to jail apart from that one guy who became the scapegoat for the entirety of Wall Street and political class of the West. And it’s gonna happen again, and again, and again, the core of the system requires it to happen in cycles.
Hard agree, I think a large part of todays current homeless/mental health crisis is from yesteryears robbery of the life savings and security nets of millions of people. Some were able to recover, some were able to make it work and some were just barely able to survive.
Proud owner of the title of "Deadbeat" for always paying my card off on time every month. Even more negative points because I pay in cash so often. Spend wisely gamers.
I'm in a pretty similar credit card situation, but I was duped into a semester of college before realizing I absolutely didn't need it. _Sooo_ glad I went to that "good" college that taught me almost nothing and put me 10k into the hole before I even turned 18.
@@baconsir1159 College is definitely not for everyone, and the sheer amount of marketing that "you have to go to college or else you'll be a homeless drug addict" which has ingrained itself into the public conscious of Americans is one of the biggest long cons ever. Universities of course wouldn't let anyone realize there are great alternatives such as taking up a trade or going to community college before transfering for a full degree to save a big chunk of change. Glad you realized it wasn't for you before you got any further down the debt hole.
@@baconsir1159 go into trade, community college, computer science certs, engineering, or military. Way better than 98,000 dollars of debt and rising
@@Dapperganger the thing is, that consciousness is everywhere, not only in America...
@@Insky_ Fair enough, but as an American I can't speak for any other country than my own. I'd assume the situation is similar in most of the Western world but I don't have evidence to back it up.
damn didnt know cameras at the mezapotamian times were that bad...
Yeah, and their wall manga fucking sucks too
Waiting for a woooosh
I love being in the left half "deadbeat" category. I never run my cards up and always pay them off. It makes me proud to know my credit company probably hates me and doesnt make a dime.
“We buy things we don't need with money we don't have to impress people we don't like.”
― Dave Ramsey
isnt that a quote from fight club lol
thats a shit quote
@@chaosax0lotl How so?
@@email5023 someone that says “that’s a shit quote” is on baby step negative 5😂
That's fight club
That's nuts how they had cameras to film all that back in Roman times, even if they were only in black & white.
I know right
lol u stoopid
they didn't call them cameras back then
they are Romans, ofc they have the technology
@@yoman9446 well the people drawing each frame of that anchent film would like to have a word with you
I'll admit, he had me for a second there.
Pleasantly surprised with your rendition of "Ye Olde Barbie girl" as a historic backing track.
This is the good shit we keep coming back for
Came here to mention it lol
ua-cam.com/video/YNm3Ggv01Ns/v-deo.html
I'm sure in your research you probably found this info but since it was a long vid it didn't make the cut, but I always found it crazy how banks used to set up tents at colleges and offer students free swag and gift cards to sandwich shops to get them to sign up for credit cards. It caused a lot of students to go into even more debt than they were already in because they didn't know any better and they got these cards and just thought they didn't have a set time frame to pay it back. Lots of interest that I'm sure parents had to bail their kids out of.
(Just me simping for Ordinary Things) You're one of the few people on UA-cam still making great content and I thank you for it!!! :) I can't support you via Patreon because I have student loan debt but I don't skip your ads and I always share your vids with my friends and family.
Yep - at my school, it was a free Domino’s Pizza if you signed up for a credit card. In the whirlwind of orientation, clubs, frats, and freedom, they got a lot of students.
Banks are so eager to give you credit cards that a woman at one bank tried to convince me to sign-up for one while I was under age until I informed her I was only 16. I blatantly looked underage (there with my mother and everything) but it was only when I stopped her that she realised she was so desparate to get me on the debt train she didn't even stop to think I probably wasn't even old enough...
Simply signing up for a car made the students go in to debt? Not their reckless spending?
@@maskettaman1488 i think the idea is when you are drunk your impulse control goes with you so the presence of a credit card makes you have the ability to put yourself in debt then forget about it, although I do agree its just part abd parcel with the idiocy of alcohol consumption that happens in campuses
College students didn't know any better. Thats their own fault. Money management and interest needs to be taught in High School.
If "Flick the bean into your morning routine" isn't Morning Brew's new catchphrase then I'm not downloading it.
*brewtine
It’s a clitorisk their willing to take.
Its not an app, its a newsletter delivered direct to your email inbox. That being said, i subscribed to it when ordinary first shilled for it. Its not bad, its another take on the news i wouldn’t get from a bigger news outlet and thats always beneficial for being news-media-literate.
But yeah, they need to make that their tag-line.
It was so funny I barely cared it was an ad. Not like that Internet Comment Etiquette dross.
The ending was really upsetting. Jesus christ.
same
Art imitates life.
Meh, I'm used to ordinary things giving me an existential crisis with most uploads by now.
So Andrew when is Ordinary Things coming on the Official Podcast to defend himself?
I guess there seems to be no good ending when it comes to credit cards
You might be interested in doing a video on urban sprawl and car dependent infrastructure. It'd be perfect for your casually delivered horror stories of human design.
"the answer to the question, 'why is everything shite now?' "
"He who controls the money supply of the world controls the world" - Fred Flintstone
Yes ua-cam.com/video/2jeeTS6dklU/v-deo.html
True...
BASED FRED?!
Wait, does fred even have money as a concept?
Daddy JPOW yess🗿🗿🗿
Indeed
Between you and the internet historian it's a rare treat when I get to see a new upload! Love your stuff!
Yes ua-cam.com/video/2jeeTS6dklU/v-deo.html
True.
Both are so awesome in their respective fields, love them
They know how to spin gold on UA-cam lol
@@mineno1fan right been a good week for uploads
In words of IH himself, “He doesn’t post on the main channel anymoooooore!”
We need episode on student debt. This was awesome
100%
Love how those old credit card ads are basically just telling you to "treat yourself" as if it's not just your own money (+interest!) you're spending.
I absolutely love the calming rendition of “Barbie girl” playing in the background
That was so distracting. Was singing along in my head :/
Right lmfao I’m like wtf
I was surprised how quickly I realized Barbie Girl was playing…
i was just about to comment that
I can't even concentrate on the video, barbie girl is just playing loudly in my head
“Debt” is such a nasty word. Let’s call it “Consoomer High-Score” eh?
"conzoomer" high score
Eh, debt's just a tool. Good debt (under 4% APR and used for things that pull in greater than 4% ROI), is like an aluminum-housed wormdrive Skilsaw in the hands of a skilled carpenter. Bad debt is like a cheap plastic Chinese circular saw in the hands of an untrained kid with spatial reasoning problems.
Bro I can't believe that "Clout" commercial was actually real. That shit reads like straight up satire/parody. Great video as always 😁
0:58
Barbie Girl with medieval instrumentation: nice.
“That’s when thing get a little staby”
Human history in a nutshell
Now things get shooty too
add nationalism and killing heretics, that about covers it.
@@hodarov1564 And zappy!
And just like that, the vikings found a civilized way to settle accounts... by stabbing each other on an island, one duel at time.
@sir Nikkel get the flamer, the heavy flamer
“What are they betting with”
“The only thing they have, years of service”
What is this from?
@@sunflower-Sept32022 Pirates of the Caribbean 2
16:58, I think it’s important to note that American Express actually kicks you off if you miss too many payments. They make the majority of their money from annual card fees, not late fees.
your videos are actually so well done and fascinating, thanks for providing such quality content
Master card really missed an opportunity
'MasterClout"
Am I the only one who started singing come one barbie let's go party in their heads or is it just me?
Same! Haha
you mean out loud ? :D
unexpected M. Laser appearance!
Only so much that I couldn't follow what was being said and had to rewind
Me too bro
Is it bad that I'm focusing more on learning about your method of presentation and less on the actual topic of the subject? I really love how you explain everything in your own way.
Yes
Uwu
Very bad
Nothing belongs to anybody in this world. Everything is universal. He got his ideas from someone, you’re getting ideas from him. It keeps going.
Perhaps you are turning in to a UA-camr.
13:06 this ad can't be real 😭🤣😂🤣 honest advertising
When I turned 18 I got access to some money my grandad saved up for me. I was dumb and just got friends that were just like me. So I had fun with it, spunked it all away. I was scared to tell my mum how irresponsible I had been. I ended up breaking down and 'confessing.' She wasn't mad. She said I had learned a lesson, and that I had spent what I had and there was nothing left. Then she said: "only ever spend what you have, never get a credit card." In subsequent years I found out that after my parent's divorce she basically lived credit card to credit card, even borrowing money from friends, just to not let us notice that things were different at Christmas. She's now payed off a mortgage by herself.
Ultra chad mom
@@captainanus8131
His mom has more balls than many a man.
Okay, but you should still own a credit card. Even if you want to pay for everything in pounds, put some kind of consistent spending you do every month and pay it off on time like a Netflix subscription or Petrol costs to build credit history. You need good credit history in order to access any kind of loan, good places to rent, and jobs that require handling money.
@@aidancollins1591 Never.
@@lego007guym8 Perfectly fine, just understand that you won't be able to participate in legal wealth generation in this society. Be it through a small business, a house you own, or anything related to a bank.
It's a rather low risk activity to do what I mentioned above and the flippancy which commenters suggest to never own a credit card is concerning.
I hate how we’ve been repealing regulations passed after the great depression meant to prevent the rampant deregulation that caused the great depression. We faced economic prosperity following that period for half a century and like a dieter grabbing a donut because they’ve been good that week we’re weakening our institutions meant to guard against corruption and greed.
"Look at how much money we're making!"
"Why are so many people homeless?"
"...Look at how much money we're making!"
‘We’ is politicians in the pockets of corporate donors, not the man on the street.
i don't believe the laws mentioned in this video repealed laws against mortgage backed securities or sub prime loans since those have been a thing for a long time. Also i'd hardly call the era between the 50-90's an era of prosperity as there had been many recessions between, declining purchasing power, and "wage stagnation". I'd probably change that window to the 70's to modern day as there is a stark difference between that time period and the period between the late 40's to late 60's.
But it was the regulations that started the financial crashes, especially the Great Depression, just to mention the tax tariffs that directly caused the stock market crash after the law was introduced in American Parliament.
Great depressions followed an era of increasing governments oversight in the market, that continued to be passed in the USA and prolonged the depression well into WW II
Not to mention, that the prosperity in the fifties you mentioned was proceeded by major DEREGULATIONS of the market.
Well that was quick. I've finished your entire catalogue. Looking forward to future content!
Ty for teaming up with the internet historian. Otherwise I never would have found your channel. Funny vids presented in an informational way, commentary is relatable... I really like your channel. Time to watch every video you've posted lol The only UA-cam so far where I did t mind sitting through the paid promotion too. Keep it up!
The Barbie girl classical music in the background made me laugh really hard, in fact the semi classical ambience to your videos provide a comfortable video to watch
If Morning Brew doesn't adopt, "Flick the bean into your morning routine with Morning Brew" as their new slogan, they have no sense of marketing.
I love your content!!!! Been binge-watching the last two weeks
You are doing such important work educating the masses. Thank you so much, keep making these videos, so so so important! Education is power.
Just now finished the video. What a great fkin episode my dude
It 26 min video but came out 21 minutes ago my UA-cam says... you're quick bro
Yes ua-cam.com/video/2jeeTS6dklU/v-deo.html
True.
@@mrhappy5695 papa flammy :)
it's papa flammy ayo
Got an ad for Citibank…irony
David Graeber's "Debt: the first 5000 years" is a great book on this topic, a history of economics basically. Till the 19th century, debt was actually the main way regular people traded between themselves. You would rarely pay with coin at the local grocers'. Direct barter, where you exchanged nails for goats would never happen. People just remembered who owed what and when the harvest came or you slaughtered a pig, you remembered to pay back that neighbor that gifted you a pair of boots that one time. Coin was only invented to pay taxes to a state, you would rarely use it in day to day life, and there wouldn't be enough metal to go around for daily transactions.
King shit i love Graebar I need a copy of bullshit jobs
Yea it's pretty funny that educated capitalists think that people in feudal Europe(or any other time without money) would wake up every day and exchange some of their belongings or skills for bread and the whole economy was some fucking item-transaction circus.
I'm currently reading a history book on Persia and they are the ones that invented coins for exactly the reason you mention, to gather taxes from their people.
@@vizziiiiob I believe that to be a bit too idealistic and narrow to attribute that to only capitalists. I'm fairly certain most educated folks tend to believe the time prior to the industrial revolution consisted of plague, famine, filth, and disease with little economic activity outside of government transactions.
Shoot, modern teachers focus solely on government transactions, not on day to day living, so that would color how folks view things.
I believe most education focuses on the large transactions, such as military or state activity, over small transactions. Hence, when you hear a king paid his soldiers in coins, you do not think twice about it.
In such a manner, I believe most soldiers ended up struggling unless they found a wealthy merchant capable of translating the worthless coin into something more prudent such as food, land, or equipment.
Love your informational videos!!!! Please keep it up.
I’m going through something rough rn and the discovery of your channel is a god send. Keep up the great content
Is... is that a harp cover of "I'm a Barbie Girl" in that first segment about Sumeria?
Sumeria, my favorite barbie girl.
I saw that too
Yes
Blyatuful innit fam
I’m not the only one
I just want to say I like and appreciate seeing youtubers display and cite their sources.
Quite right, Sir. This avoids the temptation of anal elocution.
@@gregorymccoy6797 I like your funny words magic man.
But it’s true why do you need souses it isn’t Science it’s fact
Thank you ☝🏻💯✅
Thank you for your content. You're journalism at it's finest. Great work.
Great vid! So well done! Love the history portion
Remember, Debt almost kind of sounds like Death
Nah man you just wait 7 years
Damn, that Bernie clip. Regardless whether or not you agree/like him, that man has always been consistent
Well he was good but he's fully lost it to the far left
@@PixelLife101 He's literally the same as he's always been.
@@PixelLife101 literally been preaching the same things as he is now. are you perhaps just regurgitating some slogan you read on a political subreddit or facebook group? I would love to take back my words if you show me proof though, if you can find any
@hey it's pete imagine thinking wanting to improve quality of life as "shitty"
@An Equal to be fair multi billionaires are much more common these days and the amount of tax they pay is a joke. It’s like filling a bath tub from the ocean, they don’t even notice.
I was linked to this video via Facebook Messenger, and I couldn't get it to actually load in UA-cam proper. Thought you should know~ I watched the whole video on there because it was so great.
I saved this video for 2weeks before watching it and I have to say it's made my comedown much better. Thanks 👍
Honestly ever since I paid off my student loans I've been vehemently against debt. While I'm still a bundle of anxiety I've become a much smaller bundle of anxiety. I don't think people realize just how emotionally crippling it is. Every job being the only thing between a person and homelessness because the collections people will come for them.
Remove debt
What is this "paying off" a student debt you speak about?
😉
Without debt you'd absolutely cripple the economy.
A job is usually what's keeping someone from being homeless, though.
@@dylanpresidafonseca2545 seems like a bad economy, If that's what we got!
I like how the voice over for his mid-video ad was not quite long enough. So, he slightly stretched it, so it would meet the time requirment in his contract, but also very slightly deepened his voice. Chef's kiss.
Oh is THAT why it was deeper? I thought there must have been something wrong with my speakers.
@@PenguinLord10 okay I thought I was going nuts when I noticed his voice going deeper. This explanation is hilarious and makes sense
Dooode bro, I was so happy when I found your channel a little while ago, yr absolutely hilarious!
You missed the fact that credit cards charge fees to merchants to accept them. This makes prices go up slightly for everyone. If visa and mastercard cost a merchant 2% of the sale price and Amex 3% you can bet that merchants charge at least 2% more to make up for processing fees!
As a kid I remember my parents filing for bankruptcy twice bc of credit cards, all the while crying and wondering what had happened. They tried to be careful but they kept getting caught in that debt cycle. It was so sad to see and as an adult I wish I could go back in time and tell them that they weren't stupod ir lazy, they were mislead ☹
That's the thing though, they were stupid. You pay it off in full. You don't buy what you can't afford. That isn't mislead (unless they were being charged fees not listed in which case they could sue)
Yeah they sound a bit “stupod” ngl
def. stupid ngl
Ahhh….the victim mentality! 😂
@@esmeecampbell7396then why does the system allow you to do so? This situation is fully expected by the banks, it's downright predatory
Life Hack: open a credit card to pay only your pre-existing bills with. You’ll raise your credit, pay nothing extra, AND the bank hates you for it. It’s a win/win/win
The problem, people don’t know how to do that. Generally
I put just about everything on credit. Pay it off each month and collect my cash rewards. I then invest that free money. Anyone who isn't paycheck to paycheck should do this I think.
@@heloo6101 it's not much, but it's free money for doing nothing. Just use credit instead of debit.
This. Only thing I use my card for is gas since I’m still living with my parents. Great way to build your credit if you have the self control.
Yep. That's why I have a credit card with auto-pay every month.
Very well done one of the few channels I look forward to
Ahhhhhhh a new video, the pleasure from this channels uploads is immense.
I harbor a fair amount of resentment over the fact that I've learned more about credit in the past 26 minutes than I ever did in 14 years of school and over 40 years of life.
Blame your parents, not the schools. Hell, blame yourself too; you have the world's knowledge in your pocket.
@@gimpinmypants Schools can most definately be blamed as the education system focuses heavily on just memorising facts rather than actually teaching students practical skills or critical thinking.
@@caldw615 Education begins and ends at home.
@muckymucks That's a rather old school way of looking at education.
No seriously education is a way of escaping generational poverty which won't be possible if the schools aren't responsible for teaching children.
@@justalostlocal Parents brought those hellspawns into the world; they should take responsibility for them.
16:08 NGL, the one thing I didn't expect to do today was enjoy being called a "deadbeat", but in this context it feels surprisingly good.
I pride myself in being a "Deadbeat". :)
Ohhhh yeaahhhhh
Honestly love your channel brother ❤
Very clever writing. Kudos!
A cartoon using someone’s withdrawals from literal caffeine addiction to represent not having enough money is only a little disconcerting.
I still cannot get my head around this as a central european. Everyone I know here saves money and unless you are poor (at which point you get financial aid), you only rly buy things with money you've saved, rather than go in debt and pay back the debt.
Noteable exceptions are houses, but those work different, after you can already sell them back after 3-4 years.
I understand what you mean. We still have a cash economy. Debit cards are more common than credit cards here.
Current economic order is built on top of Americans spending and then selling bonds of their economy to finance their spending hehehhee
@@anmolpatel793 A vicious cycle lol
The main source of it is education. Americans in poorer areas receive less education, less financial education, and less aid when it comes to income overall
@@larsonracies8636 Not just in poorer areas, but now there are acting lobbies attempting to lessen educational standards even further in all public schools, beginning in California within the last year. Aid isn't an issue as it is built on debt and interest, and government aid can't meet the costs associated with for profit colleges. It's easy to go to a trade school and come away in the green with no cash paid for a certificate (I did it twice using a combination of Hope and Georgia's Zell Miller Grant).
In my mind, the terminal debt crisis begins with a lack of quality education on credit. I never learned any of what was in this video in public school, trade school, or college, but was instead fed over 100 credit hours working on my BA about cultural studies. Even after completing my B.A., I was left without any specialized knowledge which would help me get a job in my chosen profession, like software skills.
WOO always look forward to your new videos!
Lots of work to make this, thank you!!
Very good video. Depressing as all fuck but that's why it's a very important topic to cover.
Also very fun to see millennials going into their third "once in a lifetime" economic crisis.
Sure is nice knowing that the nightmare that is credit scores is such a recent and entirely American thing.
It really isn't. You can read about credit issues other countries have faced, this video is just primarily focused on the US.
Appreciate the research that goes into these and love the humour. Great work as always!
In most cases, it wasn't the lending of money that was a crime, but the adding of interest.
@Top GIFs With Sound ok anti semite
You know how many people say “i love history” but don’t know anything like this. Or anything that happened with the culture industry overall. Hopefully your channel makes that type of information more important to learn to people. A shame people can sit around arguing about ideologies and propaganda when there is actual issues they should be avoiding. Cough cough credit cards etc
I had a buy now pay later ad on this video, run by Australias biggest bank. They're ditching credit cards and shifting into buy now, pay debt off continuously cards.
Bruv you know how much history there is? I’m sorry for being interested in certain things from the past but not knowing about the history of credit and it’s role in the fucking Roman empire
@@bimey386 you better be sorry mate
Well, politicians are in bed with the bloody bankers, so its kinda the same.
not that much new info. pretty much a basic intro to economics.
The barbie girl old timey insturmental fita just right in lmao
The transition from Chamber Music Barbie Girl to Speed metal was a lovely touch
One of the most rewatchable youtubers has uploaded once again!
The only thing that isn't ordinary on this channel is the time between your uploads
Yes ua-cam.com/video/2jeeTS6dklU/v-deo.html
True...
Heyo!!!!!
I'd rather smash a 10/10 once every couple of months than a 1/10 every night.
also his hair
AMEN TO DAT
A tour de force of delivery; Bravo!
Damn dude, every new video you put out is an infuriating delight ;) keep going, best video so far
The credit crunch hit simultaneously with my adolescence, it played a significant impact in my development. For instance, any word ending in the sound "-ebit" fills me with deep unease, a great sense of cringe and an accumulative murderous rage. It has made my career as a frog biologist incredibly difficult.
Frog :D
@@isaachayman9231 Toad :3
So no one is gonna speak on the FIRE “Im a Barbie girl” song in the background?
Hahaha right? It was awesome
Hanky Panky
Sounded like a witcher soundtrack
Not many people know that "I'm a Barbie Girl" was originally transcribed for the band Aqua by scholars from ancient sumerian carvings.
0:58
The notion of 'selling debt' is so incomprehensible to me that I can't wrap my mind around it , no matter how it's presented. It's a pure simple unethical scammish scheme , and to think that banks were bailed out makes me wonder on the validity of the system we rely on :-o
you're beginning to believe comrade
Debt is the promise of money. So banks treat as money and buy stuff with it. Then, every now and then, something goes terribly wrong and everyone is reminded why using debt as money is a terrible idea.
I still have yet to get a credit card and I’m quite upset that I will struggle in obtaining a car or a house- even though I have the necessary money in full. I simply want to avoid debt at all costs, given how it has harmed my family.
Basically you just have to get a car loan with the lowest interest rate you can get. Start shopping around your local credit unions and avoid the big banks.
If you're financially stable enough, there isn't much harm in using credit cards to pay for things that you already have the money for in order to build up credit, and then just paying off those cards right when you get home from shopping.
The slippery slope is when you start using the card to pay for things you DON'T have the money for.
There are some companies that still under write for housing loans without credit established, just hard to find them and it’s a little more involved process. Used cars are just as reliable as new ones and if you can pay cash for most or all at even a dealership they will find a way to get you in a car with no credit
Not sure what country you live in but here in Australia not having a credit card really does not hurt your chances of obtaining a home loan as much as a stable income and solid deposit do. Best thing to do if actually serious is talk to a mortgage broker, who at least here, works with you seperate from the banks and gives real advice to what your buying power is.
Speaking from experience, the credit card won’t help you get the car. My family pushed me to get credit cards as I entered college so I could “start building my credit score” and then were shocked when it didn’t work like that. If you’re reliable with money and have what you need to buy what you need, all you should have to do is get someone with a good credit score to co-sign for you. Once you pay for whatever you’re buying it’ll boost your score and the person who signed will be off the hook too.
Good lord, 100 years around and we're back where we started... oh yeah and I learnt something about debt, I think. Another terrific video, mate.
I've used this video to stall my family while stealing alcohol from grandma.
1:22 - "Whose round it was". Lovely bit there!
Shya, like I'd listen to Stede the Pirate about CREDIT cards!
yes
I'd prefer credit YARRS!
I will see myself to the gallows.
STEEEEEEEEEED
@@connormccarthy2745 crap, beat me to the punch!
That Mesopotamian remix of "I'm a barbie girl" is both hilarious and fits amazingly with the topic. Outstanding work on finding that
I can only imagine Gilgamesh listening to that banger while slaying monsters.
this is a masterpiece of financial knowledge. well done sir
The retro footage is fascinating to watch.
Never have I ever been happier to be referred to as a "deadbeat"!
The banks can suck it; thanks for another educational and fun video!
There is no channel that elicits a faster urgency in me to drop everything I'm doing in order to watch a new upload. That's you, dude.
Your work is outstanding and it's doing a lot of good for the world in many different ways, primarily educationally. Thank you man
@Will Gregg Ordinary Things this time!
he has such a way with words, It's beautiful
RIP David Graeber. Such a great historian of debt. He really dove into a topic that no one had before.