What Happens to A Country When it Goes Bankrupt
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- Опубліковано 29 тра 2022
- We're out of money, and by we, I mean the entire country! What happens if an entire country declares bankruptcy? Can another country just buy them out of debt? Find out all the answers right here in today's epic new video?
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I've seen so many videos about America going bankrupt that it's really making me wonder how we're leading the global economy
Propaganda
Because we have the most advanced technology, hard workers, immigration from talented people, etc. Federal government does not mean private companies.
Lol we definitely are.
the petro dollar as the world's reserve currency.
As surreal as it sounds, even with all its flaws the US economy still seems to be the most competitive on large scale. Shows how inefficient other systems really are 😐
Person: "So how can we pay off our debt"
Employee 1: *tax the homeless*
Employee 2: *Raise everyone's taxes by just enough to pay the debt*
Employee 3: *just print more money*
y e e t
Person 1 - what is this debt that everyone is saying we need to pay off?
MMT economist - they are the treasury bonds ie savings accounts held in the Federal reserve. We pay them off by debiting a savings account and crediting a checking account.
Person 1 - Don't we still have to raise taxes to pay off the debt?
MMT economist - no, taxes are not used to pay for anything, not to pay off debt, not to pay for programs.
Person 1 - so we can't just print more money?
MMT economist - we don't print money when we pay grandma her social security. We have the central bank the Federal reserve credit say Bank of Americas account held at the Fed. Then Bank of America credits her bank account. There is no plethora of options for the Federal government to spend. It spends one way and one way only and that's by crediting bank accounts.
When it taxes it does the opposite, they debit a bank account, then they debit bank of Americas account at the Federal reserve. Where does the money go? It gets deleted and taken out of the economy.
@@henrygustav7948 i don't think that's how money works
@@birdn4t0r7 That is as straight forward an explanation as one can get. Money is a creation of Governments. Money is a debt, Government's ability to coerce people with taxation makes its debt instrument the highest form of money in a country.
@@birdn4t0r7 That's why its funny
If only we could lower prices globally...
Interesting you choose to put this video out at this time, I’m expecting something like this to happen soon
It's already happened in Sri Lanka
It will😌
Pakistan 🙄
What
It Will happen sooner than you think. Start gathering them canned food
Fun fact: Argentina defaulted about 7 times and no adverse affects after an initial jolt. The same will IMO happen in the USA. Lenders however are suckers, and always come back to lend even more after a short adjustment period. The other option to default is hyperinflation, which also might happen since central banks can print money out of thin air.
funner fact: In the 1890s, Argentina was the richest country in the world.
Fun fact defaulting and going bankrupt are two separate and different things
Argentina is still a poor country, vs plenty of other poor countries who become rich (a lot of the Asian ones). I'd say that Argentina is suffering for it's poor fiscal management
@@hgentil XD it was the UK You fool, arg never important Even in their region
If us defaults and bankrupt, the global economy is gone as we know it
The Bankrupt problems during the Roman Empire Era were solved in a pretty gruesome way. Everytime the Empire was at the verge of bankrupt, the Emperor was murdered by the Praetorian Guards, who replaced him by a more competent man. If the substitute didn't resolve the economic problems, then the Guards repeated the process over and over until finding the correct man. Caligula, Galba, Elagabalus, Alexander Severus and many others were victims of that drastic method
I like it!
So you're saying if America falls the people have a chance of getting revenge against psychopathic corrupt politicians and elites with war crimes against humanity? I like it.
So it’s process of elimination?
Should do it with this government
The secret service should be taking notes.
This guy definitely makes bands, can’t remember how long I’ve been watching him. Especially recently with all the craziness going around, this mans is making millions a year for sure for sure.
@@chriskoutsoubis glad you pointed this out. Alot of ppl don't think about that. No way this guy can script, animate, edit, edit some more, and upload these videos by himself.
@@chriskoutsoubis they probably do make quite a bit of money, but how did you get 4,500 dollars from 1.5 millions views? From what I can find, in good conditions, you get about 1,000 dollars per million views.
@@cedarcoombs8111 the rate varies on genre like video game chapels will only get you 1 dollar per 1000 views but a channel about making money online or bitcoin can get you 8/10 dollars per 1000 views
Well youtube pays about 5$/1000 views, or $5000/1m. Take that from their new videos + residuals from the hundreds of past videos getting thousanfs of views every day, and yes infog is certainly getting paid.
@@thewildcardperson well, yeah, but I doubt this genre get 5 times the amount of money than others.
In my opinion, the remedy to weather this recession and high inflation is short-term trading, as opposed to long-term, most folks using these techniques are netting a ton of gains, sure the risks are higher but yet again isn't the current market equally as risky?
well the top players and pros have exclusive information and data trajectory that isn't disclosed to the public, knowing the strategies to apply in this time is one thing and having the right info to successfully pull it off is just another.
Ever since the outbreak of 2020 which drastically affected the market, I've been running all of my investment-decision through a inv-coach cos there entire ideology is centered around going long and short at the same time using high-profit oriented blueprint and reducing risk-exposure as a hedge against the unavoidable downtrends. Coupled with their access to peculiar data and analysis, underperforming is nearly impossible.
I guess that's why the demand for investment-coaches sky-rocketed by over 41.8% since the pandemic according to Investopedia , however who is your coach if you don't mind me asking?
Eileen Ruth Sparks is the coach that guides, you probably might've come across her before I found her through a Newsweek report, she's quite known in her field, look-her up
China won't let that happen I blame them
As long as the dollar is the reserve currency the US defaulting is unlikely. For a simple reason 'I go down you go down' applies to a lot of countries who have their monetary reserves in dollars. So there is a vested interest a pretty big one in pretending everything is fine. But if the dollar suddenly stopped being the reserve currency. All bets are off.
Like, oil can only be traded for US-Dollar.
As long as the US Government enforces taxation then the USD will always be in use. The Federal government can never be forced to default in USD because it creates USD when it spends.
Unless dollar crashes
@@petervarga7913 Petro dollar is on it's way out...
@flisnoo shaboo 1920s
"Raising the debt ceiling sounds like a healthy way to run an economy."
This is the equivalent of getting new credit cards to pay off old ones.
no it aint
SEEMS LIKE THE DEMOCRATS WAY! THE WORD SAVING HAS WENT AWAY LIKE GOD, NO MORALS ANYMORE!
All under democratic leadership, I wish chyna would stay away
USA: What are we gonna do if the country is in debt
Richard Nixon: *Hold my gold bar*
Japan: Hold my sushi.
Also we already are in debt, just like all the major powers of the world.
@@DemonNitrix So many countries in debt, in debt to whom may I ask?
Biden: my butt's been wiped!
"What Happens to A Country When it Goes Bankrupt"
*TLDR: A REVOLUTION OCCURS AND PEOPLE'S HEADS GET CHOPPED OFF UNTIL EVERYONE IS NO LONGER ANGRY AND THE DEBT MYSTERIOUSLY DISAPPEARS*
What happens when a country is bankrupt?
Answer is simple. Just go and look at Sri Lanka.
Thanks rajapakshe family srilanka our country gone with wind early coming early going srilanka
yey What a wonderful time to live in Sri Lanka !!!!
@@kalinduwijewardhana At least everyone is starting to help each other instead of hating.
It's not that simple. In case of Sri Lanka they ran out of foreign reserves, so they can't pay back the loan they took out in a foreign currency.
Venezuela is the god at dealing with bankruptcy, just print more money
Me: *Waiting for Greece jokes*
Insert....... AMERICA
hello neighbour, we're on the same boat these days
Family never pays @
family owned Greek restaurant.
Me retirement greeeeece
@@Jmack1lla we are seriously trying reeeeee
This channel is amazing. The value in your videos is pure gold.
I'm in my 30s and have already accepted that I won't be able to retire since the current debt is larger than the entire United States Economy. People be like: But I want Free Housing, Free College and Free Healthcare
They just want the same treatment as the politicians
@@darkphase90 One thing both sides can agree on is that the politicians need to be taken down a few notches.
Haha honestly I live.....no I try to survive in California and yes 2 jobs still can't haha
You have accepted their lies then. Current debt to whom? US holders of Treasury bonds? Do you think the Federal government can not provide
1. healthcare to all
2. Free college
3. Green new deal.
4. Municipal broadband internet
5. Reparations for ADOS
6. Debt jubilee
7. housing for all
Do you think that this requires the Federal government to tax you for your dollars in order for the Federal government to be able to pay for these things?
Where do you think US dollars come from? Have you swallowed their propaganda whole? You aren't the only one.
@@mikewozawski1634 don't you lie to me, we all know you live in monstropolis
"You look so tired, didn't you get sleep?"
Me: "what happens if a country goes bankrupt?"
I think bankrupsy is so important that we should learn about it more
"Give me control of a nation's money and I care not who makes it's laws"
~ Mayer Amschel Bauer Rothschild
I mean, do people realize that we've been in debt for almost a literal century?
Yes thanks to democrats
This channel is so good that now I can’t go to sleep without watching the daily video
Kind of sad considering that the Infographic show tends to have a lot of misinformation in their videos, military and gun videos especially.
I remember reading somewhere that the state of Mississippi took out a loan from England, I am not sure about this, and, according to the book they never repaid that debt. I may be mistaken. Can anyone verify that one way or another?
The Queen: Where's my P's Yankee 🔫
Google probably could
PupperFsh *🔪
I mean that sounds like the most Mississippi thing ever so yeah it’s definitely possible.
The video starts at 8:10 and ends at 9:46. You're welcome.
Thank you so much!
When your central bank belongs to a group of people you are not the real authority and will never be debt free no matter how hard you try.
So here's the real question "If I've been broke my whole life, how could I go bankrupt then?"
A free country will never go bankrupt unless there are prolonged wars, extreme corruption, or natural disasters.
When the government controls the central bank and just prints more money when they can't pay their debt than yeah, they don't go bankrupt. But that will just cause hyperinflation and how's that any better?
The current events sure have given you guys a lot of content to put out! 🍻👍
Thank goodness for Ben Bernanke jumpin in and helping the fed otherwise we woulda had a worse one last time
Super appropriate thumbnail. Nero played a violin as Rome burned. Lacking proper motor skills for that task, Biden simply sniffs underage girls’ hair as America circles the drain.
Inflation can't get worse than it is
Joe Biden: Hold my bowl of ice cream
So actually one effect of inflation is the reality of the debt is less effective debt. Because the debt is some fixed amount and that amount loses potency because the currency underpinning the debt has itself lost value.
This is true, and why high inflation rates cause debt-based economies _within_ countries as well. No sense saving money if inflation is high; better to buy now while the price is low and pay off the debt later.
But grocery bills and rent become more effective
@@1wun1 to make people to depend on groceries to be harnessed by you
I thought corruption leads to a country declaring bankruptcy
Remember kids, entire countries can default on their loans, but you can’t default on Student Loans!
God Bless America!
There are consequences for both. Both entities need to make better choices and stop spending like there is no tomorrow or someone else will bail you out.
@@mschenandlerbong8539 this is true. But it’s still wrong to do that to 18 year olds on the cusp of life.
sipioc "To do it to them"? We need to reach our children better. They are adults at 18, and should be talking to their parents through the whole college process. No parent should be ok'ing a 100k loan unless their kid is going to be a doctor or lawyer. If they can get married at 18 or serve in the military and die, they should know what is a healthy limit for a loan. We infantilize 18 year olds. It's time to stop that. It is clearly not helping them.
Students and Haiti have no armies, that's why they can't default.
@@mschenandlerbong8539 18 year olds are still kids
Thanks for sharing 👍😀
I love your videos! Very educational! The problem is, that when I watch too many of them, my head and arms will begin to move rhythmically and I can't stop! LOL
10:51 the Great Depression did not occur until the stock market crash in the late 1920s, and was not really felt in the US until about 1930 or so. Around the world it was felt sooner in some areas, but in the USA it really wasn't felt to the extent of a depression until the very very late 1920s (second half of 1929) and about 1930.
You need to do a documentary about the Sri Lankan civil war.
my mom always said that money isnt important, turns out she was lying
The closest thing to a country going bankrupt in modern times was Jefferson county, Alabama, which filed for a 4 billion dollar bankruptcy
Skipped CHAPTER 13 - equivalent to Chapter 11 businesses, which is for Individuals of any income level to restructure personal debt - lower interest rates, payment, extending payoff time and/or reduction of amount borrowed.
We shouldn't run a country like this, we should be building wealth as a nation. Debt shouldn't be the downfall of US.
Democrats don't like this
Thanks for sharing 🙏🏾
great video !!
Not sure but I'm sure we are on the right path to find out soon.
As someone living in a country which is on the verge of bankruptcy, this is interesting.
yeah me 2....Chinada
@@marcthefastz1000 Canada is fine.
Pakistan??
@@kritikshah yes -_-
@@liftusup9208 I am from India…Wish that extremism and violence ends. And Indian Subcontinent (India Pak incl) can live in peace😅
I was waiting for this video to finish and upload. As GabeN might say, "It was worth the weight."
This video is worth it's weight in gold.
I can't tell if you're being ironic with the wrong form of weight or not
bankruptcies, resources to recoup, Canada, Prime target, WEF, our dictator, prime minister, jr. trudeau, is setting us up for the UN. world order.
bro that start was genius oml
People power is real. Sad that the reality of today is so many care so little about politics to better the lives of everyone. If you buy food or anything to pretty much live you should care about politics, not ignore it. Leaving it to unsuitable,greedy people creates mass destruction on every level. Which is where we are today.
The problem is that no one DARES mention politics anymore unless;
A) They're anonymous or
B) They're with people they know will absolutely agree with their every word.
Stating your political affiliation in 2022 in the U.S. outside of those two situations will INSTANTLY cause _at least_ half of everyone around you to hate you forever, maybe get you fired and possibly threaten your life.
I realize this video is about nations going bankrupt. I live in California and have seen cities either go bankrupt, or consider it. When you read the news about some of those cities, its never a surprise that they ran out of money.
Personal bankruptcy is another story. I understand s*** happens and some people have no choice. But, in a lot of cases, its poor choices that got them in that situation. I have worked with a lot of people over the years that don't seem to understand that when the wallet is empty, stop spending! But, these are the kind of people that drive our economy. I know how much money they make, we are union employees, its no secret what any of us make. Without fail, a new employee will go out and buy the biggest pickup money can buy, followed up with the purchase of a big trailer to go with it. Then they buy off road ATVs for the weekend to park inside the garage of their new home. Even if their spouse is employed, simple arithmetic tells me they are spending almost more than they are earning. I can't figure it out. Yet, when tragedy strikes, they simply shrug their shoulders and file for bankruptcy. I have seen this happen too many times to count.
I really shouldn't care, my coworkers finances are not my problem. But, I have spent my career living carefully so that could never happen. Actually, I can't take credit for it, my wife has managed our finances. We bought an older home and paid it off in 18 years. I have always owned and driven used cars, and vacations were something we saved for, our home was the only thing bought on credit. Tragedy hit us twice but never put us close to bankruptcy. Thankfully we were prepared for it. The fact my coworkers treat bankruptcy like a "get out of jail free" card bothers me. But, it won't bother me too much longer, thanks to my wife's frugal spending I can retire in 5 more years at 62. I don't see my coworkers ever being able to retire
That's why we invest so much in military. No one is gonna oppose you when you have the most powerful military in the world. I see some credit as healthy. It means we're investing in ourselves.
@@WarPigstheHun I Don't get the relation between your comments
@@thePersonoyt There's none, someone's confusing stuff
Nice!
Cali was on its way to bankruptcy but because of its HUGE economy, one good tax revenue year smashed the debt // u can check it really did happen
Love you videos!!!
16:40, It looks like you don't understand the whole "the carrot or the stick" thing...lol
Good video, though
The credit system will be the demise of man. A lion can't tell the rabbit to let it be eaten now and be chased later. You can't tell a car without fuel to move and promise that you'll fill it tomorrow. You need immediate effort for immediate results. We need a credit/debt free society.
Infographics has been telling us what to expect with these videos, recently 👀👀👀
I'm watching this video while living in an already bankrupted country.(Sri Lanka)
How can you declare bankruptcy when you have the printing press.
You do know, that the primary reason the US is struggling with ecord breaking inflation (which is the devaluation of currency, fyi), is due to the reckless printing of money, right?
I thank the leaders of my country for making us feel the bankruptcy of a country
Which country?
@@AnkitKumar-bw9sl Sri Lanka. We defaulted our debts recently
@@irushasansuka9884 From what I've read on another video, one of the reasons is that Russian tourists have diminished, so get Indians to visit you and you're gonna be fine again.
Sri Lanka be like, "Oh yes"
The word bankrupt just reminds me of the time toys R us went bankrupt
I have heard they are back again🤣
cool video, but only happens to small countries - when it was happening to America when they were linked to the gold standard they just ripped up the rule book and carried on printing money
Privatize the gains, socialize the losses!
Ugh, use oil to pay back debt. Sounds like a good way to make climate change accelerate.
Capitalism in a nutshell
Debt is a sign of growth. The old way of saving and keeping up with credit is no longer the best way to grow. You must invest.
This videos is like a documentary about my country !
Hi man good video
This is why Eritrea doesn't take IMF loans and Minor loans from China. That's why they got rid of Gadaffi. They had no debt under him. Countries couldn't allow that
Sri Lankans watching this rn 🥲
Oh wow nice research!
The 2017-2018 vids 🔥
Another great video!!!!!!! Can you please make a video about the tomb of the unknown soldier? Also your videos helped me in my history and social studies classes!!!
Countries such as Ecuador, Venezuela, Brazil, Costa Rica, Uruguay and Argentina have each gone bankrupt at least nine times in the last 200 years.
it’s 5am thank you infographic i might get some sleep now
Argentina smiling: First time?
Anyone else watching this after the US hit the debt ceiling?
Yes, hit again too
Ask countries that employ socialism on a country wide scale and don’t get bailed out by the US or China
China is a hybrid communist state with a capitalist marketed economy
We're really not that much better when we have citizens dying because getting a ride on an ambulance costs an arm and a leg. Don't even get me started on the hospital bills.
@@holy8782
Dude, it is widely known that Americans like to spend more than they earn via credit. If you are a grown person whether single, or worst yet, married, and don't have even 5k in savings for an emergency, that says more about you than the sorry excuse of blaming everyone else for it.
Now please, hit me back with the usual arguments of wages, taxes, cost of living, and whatever else you'd like to throw in so we can gladly go over them.
P.s This isn't about you by the way, but rather about the average citizen you were referencing on your comment.
@@tonyazzaro9593 I can understand saving $5k for a car repair. But saving $5k for medical expenses is absolutely absurd. This is medical treatment that can be life saving.
@@holy8782
5k is something at least to cover the ambulance ride to the hospital. If you are making that low of a yearly income, financial assistance will most definitely be available to you. Now, if you are making 50k and above, not only can you afford insurance, but if you don't have more saved up, then I would refer you back to the previous question, why should it be everybody else's problem but yours?
There are plenty of financial assistance programs for, and related to healthcare. There are not however, meant to be a 100% coverage.
An Argentina got itself in a financial mess again after this post came out.
Very fitting for the president depicted in the thumbnail.
I live in Zimbabwe we have hella debt 😭
Do you still carry cartloads of money to buy bread?
@@cashewnuttel9054 Not anymore but we might soon
@@cashewnuttel9054 Not anymore but we might soon
FUN FACT: Your social security number is a way for the government to put you (and your labor) up for collateral on the national debt. And what happens to collateral when you can't pay back your loan? Food for thought.
Forced labor camps?
Jail?
Liquidation?
Draft
Buttered toast.
2:20 or like El Salvador when they spend like 100 million and lost 33%
It’s time for the government to lose all their power. Decentralize and take responsibility for yourself.
I appreciate the real world training !
Kinda tough for a country to go bankrupt when it owns its own currency which, also, serves as the world's reserve currency!
unless the global market starts using a new currency as reserve and boom! 30Tn ton train wreck on your way.
Aren’t all country’s bankrupt to some point. Like the country still has a lot of debts to which will never be be able to lose because every time we input money we need to provide like 10x more or something idk maybe I was lied to or something it’s crazy to think about tho
I know your not talking about the united states. You cannot be tgat uninformed. The u.s. does not own its currency. The federal reserve bank does which is privately owned. Has been since 1913!
The only reason, the US dollar holds any value is because it is used as the currency of choice for most major oil transactions. Which isn't very good for a country that embargoed the fifth largest supplier of oil in the world.
@@mcribisback7105 The US is the world's largest oil supplier and producer.
Interesting 9:05 - 9:30, I am from Zimbabwe and a big Fan of this channel.
Great video keep it up!
Biden's face in the thumbnail is like:
"Wait, is the White House burning? Whatever, I need to change my diapers..."
😂
That’s diffidently sloppy Joseph
Somebody has to help us 🇱🇰 before it’s too late (fellow Sri Lankan)
Stop taking Chinese loans. 🌚
Who 🤔🤨
@@brothergunns5055 u should stood up against those currept politicians ( who took Chinese loans and perhaps bribes too) much before. Although India will help for sure ( actually already helping).
@@goldeagle1976 I'm not from Sri Lanka mate. I'm from India. Obviously India is helping but India has its own problems to deal with as well. It can't bail out Sri Lanka. Sri Lanka is a sovereign country. It needs to look out for itself.
@@goldeagle1976 and not being dependent of India or China is obviously better for Sri Lanka in the long run as well.
This video and the scriptnhas changed totally over time. Also the very relaxing background music I still can't find
Where can I find the background music. Some are soo good I am listening the music trough the talk 😬
Are'nt all countries in Debt?
🤷 : Well , Yes in theory . ♑️✍️🇦🇺🇸🇯
If this happened to North Korea over the governments' and dictators' intolerance disgracing their people, even if they try their best escaping that horrible nation, that makes them suffer horrible treacherous consequences over this matter.
Why are your vids so fun????
The Biden cartoon makes me laugh 😂
This happened in Sri Lanka recently. It ran into Chinese Debt trap.
Japan owns the exact same percent of the debt, which is 10%. The majority of the debt is not owned by China, actually
This is so interesting...
Keep the work up :D
All other nations have wanted this for decades.
Interesting you put this video out, when Spain is directly going to bankruptcy
I see there are a lot of blame here on the politicians. We need to take a look at the man in the mirror and make that change.
You kidding right? What a usanato bot :D
We also need to look at the mentally impaired president, incompetent vice president and so on, same goes for Europe. I believe that the west is gonna get what's coming, they ignored it when it could be stopped, Lies were promoted, and the stupidity of naive baby adult mobs were exploited.
Yeah sure when Biden is sending billions and other countries
Easy solution, just print more money. Where is my Nobel Prize?
That changes nothing. The money would be less valuable.
@@earth4906 its a joke ...
Hyper inflation will be occur.... and the Cost of Living will be higher
Just make a new currency
@@hellion6737 it will be the same because the currency will be based on how many gold deposits are there in their Central Banks
I thought steak and ale was a local Savannah thing..
Austerity measures are needed 100% in the U.S. and can't do it soon enough!
He put it in Dogecoin? Should've bought SHIBA.
Sri Lankans right now 😔
It gets either war funding or gets bought by someone with more money. Mostly war funding.
"What happens when a country goes bankrupt"
Look at Venezuela as an example
Alan Greenspan: “Central banks can issue currency, a non-interest-bearing claim on the government, effectively without limit. A government cannot become insolvent with respect to obligations in its own currency.”
St. Louis Federal Reserve: “As the sole manufacturer of dollars, whose debt is denominated in dollars, the U.S. government can never become insolvent, i.e., unable to pay its bills. In this sense, the government is not dependent on credit markets to remain operational.
Venezuela is not food independent, has to sell oil to get usd to be able to purchase imports. Look at what happens when you have foreign denominated debt.