We need to shut down private schools like Finland did, the Finns abolished them and made them illegal. their education standards went up by double figures .
Nope, the boys from Eton know exactly what they're doing. The general population need a better economics teacher so they stop voting in the lapdogs of billionaires.
Even the bankers who will get bigger bonuses are so adamant that trickle down economics doesn't work that they have had to change their entire business strategy and publicly condemn the people giving them free money. That's how bad this winter is going to be.
The theory of trickle down economics first started in Victorian times. When it first began to prove it didn't work then economists at the time called it Horse and Sparrow economics. In that you fed the horse the very best you could find for it and then the sparrows could peck through the shit at the other end in the hope they could find some nourishment. Now as somebody who has a degree in economic history you might have thought that Kwasi Kwarteng might have known that.
@@stephenhodgson3506 Not exactly western Europe at least was mostly past the agrarian stage. While the real industrial revolution needed the steam engine, water power was pretty well established by that point and mercantilist economics was the dominant economic theory with capitalism starting to be discussed among radicals. But your comment does bring up a major misconception of conservative economists have been falling into for years, we are no longer an industrial economy and have not been since the 1970s. The idea that capital growth can sustain the economy as it did in the first half of the 20th century is a major mistake they cling to and the basis for things like this mini budget. The current economy is reliant on transactional growth instead where it is much better to enact a trickle up policy for lack of a better term instead.
If you want to help a homeless person dont give them money. Instead, simply post a £50 note into the letterbox of a banker, and soon it will trickle into that homeless persons life in a far more efficient way than if you gave it to them direct.
If you give money to poor people, they spend it because they need to and the economy benefits. If you give money to rich people then they save it. Often in tax havens. It gets hoarded and taken out of productive use. Trickle down economics has been tried, and it has never worked. Unless as spin for the intended purpose of making the rich richer, or because one of your mates is a currency trader, and it's so much more profitable to cause those crashes rather than wait for them.
The rich don't just "save" it. What they do is they buy assets. Assets like your mum's house, or productive businesses, or sections of the supply chain for supermarkets. All of which causes inflation to go up, which makes the rest of us poorer.
Yup, economists have a term for that effect. Marginal propensity to consume. If we really wanted to boost spending into the real economy that the things to go up would be minimum wage, Universal Credit, state pensions. Less likely to cause bubbles too, 'cause those people aren't generally speculating on things.
That's just crazy talk chip-chap, If the the last 40 years of neo-liberal 'me first' economics haven't taught you that giving money to rich people makes everyone better off.......... what has been the point??
Trickle-down Economics” is like sowing grass in a forest. Sure, some rain will trickle down from the trees, but the trees are going to get bigger, and the grass will struggle to survive.
What does work is making as many people financially secure as possible, so they have confidence to spend but that would mean pay rises and tax cuts for the poor and middle earners not scrapping banker's bonuses and giving the top end earners the biggest tax cut in history. I'm convinced Truss and Kwarteng really don't care and have done this to cash in on the brief moments they have power so when it comes crashing down, they will walk away will high paid private sector jobs which are entirely not a bribe.
To get a perspective on how this model functions ask any poor or middle class American how Republican invented Trickle Down economics - also known as "The rich urinating on the rest of the population" - worked for them under Republican rule. In my country, The Netherlands, this term is not in use but 10+ years of conservative rule boils down to the same. Ad some severe policy scandals to the mix of which the people without money or power are the victims and you can draw you own conclusions about how beneficial conservative rule is for the majority of your population.
"the human embodiment of 'no thanks I'm driving'", as a fellow "embodiment of no thanks" I can say that any time a word worse than "poop" has left my mouth all my coworkers have been shocked, regardless of how often I actually swear (it's a lot, I actually swear a lot)
A honest Compare and Contrast of the FDR/New Deal style to the Regan/Trickle Down Free Market will answer which system is the best for average Americans and which is best for the wealthiest Americans
The Victorians had a better term they called it horse and sparrow economics. Where you feed the horse the best you can find for it and the sparrows (us) have too pick through what comes out the other end for any nourishment we can find. The whole premiss of trickle down economics was proved false over 130 years ago.
As an ex-pat, looking at what’s happened to the UK over the past 10 years, I’m saddened and appalled. Better get used to just being a tiny island near to the continent… 😞
@@beeble2003 I guess I meant tiny in a different sense… less significance, less influence, a smaller economy with less choice. I was gonna say mediocre but maybe that’s a tad harsh 🤷🏻♂️
@Don Doodat I don't think I have had a £50 note in my wallet, I went to the cash point today to withdraw £20 and it gave me two tenners, I never burned one of those.
If I have the extra money, I'm going to buy extra houses that I don't need, jack up the prices to unaffordable, and rent them to the peasants. Nothing will trickle down.
In theory, in local, micro scale economics, it probably DOES work. Like if you organise a party, and you get a cake, a children's entertainer, and a bouncy castle. All those 3 services benefit directly from your spending, and have a bit more cash to spend. But if we're talking national level economy, with greedy big business, and everything being heavily taxed, then NO, it doesn't trickle down very far at all, it soon gets syphoned off.
Trickle down economics always seems to defy gravity and stays at the top where it's supposed to trickle down from one of the biggest cons of conservative politics top end greed ensures that it never happens@$$$$$$
Very good, but missed the part that they shorted the pound down to the double bottom where they bought it all back again in the fire sale. Now their £ is worth 23% more than when they bought it back, and whatever else they invested that cheap money in has made its own gains. And onwards the cycle goes.
RAND Education and Labor- Trends in Income From 1975 to 2018- From 1975 to 2018, the difference between the aggregate taxable income for those below the 90th percentile and the equitable growth counterfactual totals $47 trillion. Trickle up anyone ? You could count that 47 trillion at one count per second in over 31000 years.
Economics isn't actually a science, it was something to explain why the prices of things were so high and things were so shit back in the day. It could count as propaganda...
Want to help the economy give the poorest people money, a family being able to buy more shopping and treat there kids to a Mc Ds does more for the economy than rich person who can already afford everything thing they need putting it into savings and investments.
Worse, the rich folk use all the extra cash to buy all the houses so nobody else can. Why can't ordinary people afford houses? Decades of Tory Trickledown!
I am centre-left. The far-right see the working class as criminals and parasites. Boris described the British working class as criminal, drunk and hopeless. Boris also allowed a poem in his magazine that he edited, that called for the extermination of the Scottish. Boris was right wing.
Except we got rid of our biggest export partners when we left Europe, the US is refusing a trade deal with us because of the Brexit Ireland debacle and all we can get is a deal with Australia, which provides a paltry increase in our economy. It is almost as if all the warnings about Brexit are coming true. Oh! Hold on! They are coming True!
That's great in theory but we import goods, which are now even more expensive, and export financial services, so most of the benefit goes to the bankers again.
the Pound and the Dollar at almost level, the Euro is looking like the Canadian Dollar, what a time to be alive, to actually witness the collapse of the global economic system, Again.
amazing that you think that way. remind yourself of where grenfell is and stop falling for tory bollocks. this city is being taken from us by multinationals and oligarchs
This is an example. If no one gets work after 500 years then prime minister will give money to per family and non family 1. Print the money or 2. Generate it from the bank online money generator or 3.Print a note that value 500trillion that Note only for prime minister that note will deposit in the Prime Minister bank account money will come to prime minister bank account prime minister transfer to everyone bank account. the prime minister would say farmers who are They will get more money. Online and offline payment is good. better economic better world
We really need to petition Eton to get a better economics teacher
They should just abolish themselves.
Case in point: ua-cam.com/video/EwB5ihGu4Jw/v-deo.html
We need to shut down private schools like Finland did, the Finns abolished them and made them illegal. their education standards went up by double figures .
That’s be funny. You should start one. I’d sign it
Nope, the boys from Eton know exactly what they're doing. The general population need a better economics teacher so they stop voting in the lapdogs of billionaires.
Even the bankers who will get bigger bonuses are so adamant that trickle down economics doesn't work that they have had to change their entire business strategy and publicly condemn the people giving them free money. That's how bad this winter is going to be.
The theory of trickle down economics first started in Victorian times. When it first began to prove it didn't work then economists at the time called it Horse and Sparrow economics. In that you fed the horse the very best you could find for it and then the sparrows could peck through the shit at the other end in the hope they could find some nourishment. Now as somebody who has a degree in economic history you might have thought that Kwasi Kwarteng might have known that.
His area was late 17th and early 18th centuries so even the early forms of it are far too modern.
@@FakeSchrodingersCat makes it even worse his experience then is based on an agricultural economy rather than an industrial economy.
@@stephenhodgson3506 Not exactly western Europe at least was mostly past the agrarian stage. While the real industrial revolution needed the steam engine, water power was pretty well established by that point and mercantilist economics was the dominant economic theory with capitalism starting to be discussed among radicals.
But your comment does bring up a major misconception of conservative economists have been falling into for years, we are no longer an industrial economy and have not been since the 1970s. The idea that capital growth can sustain the economy as it did in the first half of the 20th century is a major mistake they cling to and the basis for things like this mini budget. The current economy is reliant on transactional growth instead where it is much better to enact a trickle up policy for lack of a better term instead.
Oh I bet he knew. I bet he also knew how much money he would make from rodgering the pound.
👍
If you want to help a homeless person dont give them money. Instead, simply post a £50 note into the letterbox of a banker, and soon it will trickle into that homeless persons life in a far more efficient way than if you gave it to them direct.
If you give money to poor people, they spend it because they need to and the economy benefits. If you give money to rich people then they save it. Often in tax havens. It gets hoarded and taken out of productive use. Trickle down economics has been tried, and it has never worked. Unless as spin for the intended purpose of making the rich richer, or because one of your mates is a currency trader, and it's so much more profitable to cause those crashes rather than wait for them.
Only in western Europe in Japan everyone saves no matter
The rich don't just "save" it. What they do is they buy assets. Assets like your mum's house, or productive businesses, or sections of the supply chain for supermarkets. All of which causes inflation to go up, which makes the rest of us poorer.
Or they buy up all the housing making it even more unaffordable and widening the inequality gap.
Yup, economists have a term for that effect. Marginal propensity to consume. If we really wanted to boost spending into the real economy that the things to go up would be minimum wage, Universal Credit, state pensions. Less likely to cause bubbles too, 'cause those people aren't generally speculating on things.
That's just crazy talk chip-chap, If the the last 40 years of neo-liberal 'me first' economics haven't taught you that giving money to rich people makes everyone better off.......... what has been the point??
Trickle-down Economics” is like sowing grass in a forest. Sure, some rain will trickle down from the trees, but the trees are going to get bigger, and the grass will struggle to survive.
How shady
Even the Neo-liberals don't believe in trickle-down because it's not an economic project, it's a political project that ends in Neo-feudalism.
What does work is making as many people financially secure as possible, so they have confidence to spend but that would mean pay rises and tax cuts for the poor and middle earners not scrapping banker's bonuses and giving the top end earners the biggest tax cut in history. I'm convinced Truss and Kwarteng really don't care and have done this to cash in on the brief moments they have power so when it comes crashing down, they will walk away will high paid private sector jobs which are entirely not a bribe.
And more importantly it would mean raising corporation tax on the biggest corporations and a lot more scrutiny on Tory grift and corruption.
Financial security makes a population less beholden to corporate interests. The drivers of the economy definitely don't want that.
This budget was so skewed towards the rich we literally had bankers asking the government to please stop giving them money.
More Rachel Parris please.
She is totally yum
Seriously, I'm not British nor affected by UK politics., but I see a video featuring Rachel and I click. She should be a daily global news presenter.
In the immortal words of Liz Truss (feat. Cassetteboy) "all that trickles down is the piss we're taking".
To get a perspective on how this model functions ask any poor or middle class American how Republican invented Trickle Down economics - also known as "The rich urinating on the rest of the population" - worked for them under Republican rule. In my country, The Netherlands, this term is not in use but 10+ years of conservative rule boils down to the same. Ad some severe policy scandals to the mix of which the people without money or power are the victims and you can draw you own conclusions about how beneficial conservative rule is for the majority of your population.
"the human embodiment of 'no thanks I'm driving'", as a fellow "embodiment of no thanks" I can say that any time a word worse than "poop" has left my mouth all my coworkers have been shocked, regardless of how often I actually swear (it's a lot, I actually swear a lot)
A honest Compare and Contrast of the FDR/New Deal style to the Regan/Trickle Down Free Market will answer which system is the best for average Americans and which is best for the wealthiest Americans
Best display of trickle down economics I've seen.
Trickle down is an analogy of them pissing on us
The Victorians had a better term they called it horse and sparrow economics. Where you feed the horse the best you can find for it and the sparrows (us) have too pick through what comes out the other end for any nourishment we can find. The whole premiss of trickle down economics was proved false over 130 years ago.
As an ex-pat, looking at what’s happened to the UK over the past 10 years, I’m saddened and appalled. Better get used to just being a tiny island near to the continent… 😞
Actually, we're a pretty damned big island -- the ninth-biggest in the world. But, yeah, everything else you say.
@@beeble2003 I guess I meant tiny in a different sense… less significance, less influence, a smaller economy with less choice. I was gonna say mediocre but maybe that’s a tad harsh 🤷🏻♂️
Immigrant*
You're an immigrant. As am I. Nothing wrong with it. :)
Trickle down is an Eton toff burning a £20 note in front of a homeless person.
@Don Doodat I don't think I have had a £50 note in my wallet, I went to the cash point today to withdraw £20 and it gave me two tenners, I never burned one of those.
If I have the extra money, I'm going to buy extra houses that I don't need, jack up the prices to unaffordable, and rent them to the peasants. Nothing will trickle down.
Yes. That's exactly what's been happening for the last 3 decades.
I always wondered how many pool boys a rich person could hire.
A comedian often tells the truth far better.
Comedian is stretching it a bit.
It's pretty much awful delivery.
The canned laughter doesn't help either.
The pound is so low it could parachute out of a snakes bunghole 🐍
It feels like something that trickles down your leg. 🤣
I love it! Just wish I had access to full episodes
@Ben Avery I am not in the UK
In theory, in local, micro scale economics, it probably DOES work. Like if you organise a party, and you get a cake, a children's entertainer, and a bouncy castle. All those 3 services benefit directly from your spending, and have a bit more cash to spend. But if we're talking national level economy, with greedy big business, and everything being heavily taxed, then NO, it doesn't trickle down very far at all, it soon gets syphoned off.
Trickle down economics always seems to defy gravity and stays at the top where it's supposed to trickle down from one of the biggest cons of conservative politics top end greed ensures that it never happens@$$$$$$
Very good, but missed the part that they shorted the pound down to the double bottom where they bought it all back again in the fire sale. Now their £ is worth 23% more than when they bought it back, and whatever else they invested that cheap money in has made its own gains. And onwards the cycle goes.
Trickle Up economics is how the rich get richer and the poor become poorer. Trickle Down just cuts out the middle man.
Very true. But at least with trickle up, poor people can still do nice things, like go on holiday, buy a new TV, or eat…
@@leopold7562 This winter, rent and heat will eat up any nice things.
@@3rdmm Sad but true, my friend. Sad but true
As Paul McCartney sang “The pound is sinking”.
"Trickle down ecomics".. somewhat indistinguishishable from being pissed on!
RAND Education and Labor-
Trends in Income From 1975 to 2018-
From 1975 to 2018, the difference between the aggregate taxable income for those
below the 90th percentile and the equitable growth counterfactual totals $47 trillion.
Trickle up anyone ?
You could count that 47 trillion at one count per second in over 31000 years.
WOW! SHE REALLY IS ONE OF A KIND!
The pound has trickled down.
Aye, not so much "trickle down" as "Trussed up"
Economics isn't actually a science, it was something to explain why the prices of things were so high and things were so shit back in the day. It could count as propaganda...
Want to help the economy give the poorest people money, a family being able to buy more shopping and treat there kids to a Mc Ds does more for the economy than rich person who can already afford everything thing they need putting it into savings and investments.
Worse, the rich folk use all the extra cash to buy all the houses so nobody else can. Why can't ordinary people afford houses? Decades of Tory Trickledown!
I am centre-left.
The far-right see the working class as criminals and parasites.
Boris described the British working class as criminal, drunk and hopeless.
Boris also allowed a poem in his magazine that he edited, that called for the extermination of the Scottish.
Boris was right wing.
To answer your question no.
The pound reducing in value has both benefits and disadvantages. It will make exports cheaper and tourism into the country cheaper.
Except we got rid of our biggest export partners when we left Europe, the US is refusing a trade deal with us because of the Brexit Ireland debacle and all we can get is a deal with Australia, which provides a paltry increase in our economy. It is almost as if all the warnings about Brexit are coming true. Oh! Hold on! They are coming True!
That's great in theory but we import goods, which are now even more expensive, and export financial services, so most of the benefit goes to the bankers again.
Damn she's funny. 👏👏👏
It’s real, as any theory is. But it doesn’t work.
Most people : we don't believe in trickle down economics
Also most people: if the rich have more money that's good for everyone.
the Pound and the Dollar at almost level, the Euro is looking like the Canadian Dollar, what a time to be alive, to actually witness the collapse of the global economic system, Again.
No
"Adult Humour". Two word sentence with two lies, fair play
👍🤣👍
I never see this dummy without a script. What a hero she is
Don't these all live in London? Hardly working class heroes
amazing that you think that way. remind yourself of where grenfell is and stop falling for tory bollocks. this city is being taken from us by multinationals and oligarchs
@@umbra1091 it's not that I don't agree with their message, but the optics suck. They live in places normal people cannot afford
Because famously everyone in London is rich and there is no deprived areas, no high rents or no massive wealth disparities.
@@secretsfullofsaucers I wonder which side this lot fall into. I couldn't afford a London rent for sure.
GOD! the state of British comedy.
Uh oh a tory is upset.
@@sunseeker9581 they only ever laugh at racist bilge
This is an example.
If no one gets work after 500 years then prime minister will give money to per family and non family 1. Print the money or 2. Generate it from the bank online money generator or 3.Print a note that value 500trillion that Note only for prime minister that note will deposit in the Prime Minister bank account money will come to prime minister bank account prime minister transfer to everyone bank account.
the prime minister would say
farmers who are They will get
more money.
Online and offline payment is good.
better economic
better world
The mash report used to be funny.. seems pretty cringe now