Yeah, I'm 30 and a father; that woman is insufferable. This is partially why younger people have no money. They are gambling it all in an attempt to be called 'diamond hands'. It's the ultimate definition of 'looking rich instead of being rich.' Believe me, those children will grow up with a lot of addiction problems surrounding money and it will impoverish them.
@@NvidiaRTX5080 what I do is give them their allowance, but then on the next week ask them to return 75% of it as taxes, and if they can’t I take them from their next payment with added fees. They need to be prepared for what’s coming to them!
And Venezuela, Weimar Germany, the Roman Empire… MMT is actually a very old, very *stupid* idea that’s been many, many times before. And just like Communism, it *fails* every single time it gets tried… but *this* time things will be different…
@@DrumNBassed Obviously, I'm saving assets to get richer. Like the saying goes, rich get richer, it's all because the rich own assets and they're the ones that inflate the currency, making peasant life miserable, while theirs more affluent.
I really appreciate you working to dispel the bartering myth! It wasn't new information to me, but i do still remember how popular the "everyone only bartered goods in hand until coins" story was and is.
I think if you dig into it, you’ll find that this bartering story is just that: a story. It’s designed to illustrate the need for some sort of medium of exchange.
I didn't know about it but I also loved that bit of knowledge that was shared. It's also interesting to think about because people who are very anti capitalist always want to "go back" to a bartering system but it seems like even thousands of years ago humans were fully aware that was inefficient.
one thing that you needed to remember about how we use money today is that capitalism is a very new invention; it started from the black plague in medieval Europe. For most of history the idea of buying something important was a bureaucratic process. Back in the large empires of Rome and Persia, coinage was used for smaller purchases. Anything that was worth more than something you could sell and forget about was bought with favor. Land, construction and trade were often exchanged for future returns and shouldering responsibility. What changed with capitalism is that it gave non-politians and non-nobles the right to use acquire more valuable things without the direct intervening of a bureaucratic enforcer (by that I mean some purchases can be done between two parties and did not need express permission by the government, like how buying a iphone doesnt require a government license) Even today we see the same system, when someone spends 44 billion to acquire a company, it impossible to pay with raw currency and often means exchanging assets for deeds to other assets. The only difference now is that the world is far more productive than ever before so buying a home or a car with cash has a smaller relative cost than a home or vehicle 1000 years ago. But despite that we still need to have the change of ownership overseen by a judge in special circumstances, so in truth the system is not all that different, we just evaluated a change in buying power.
I suggest reading Tom Standage’s books on the history of food and drink, an edible history of humanity, and a history of the world in 6 glasses. He talks about how the ancient civilizations very logically used rations of grain or drink as essentially money, since everyone needed them and you could standardize the units of it.
To the penny stocks point... As someone who's worked in tech for years, and has been in companies in hypergrowth and such. Just about every 'cutting edge technology' Is one dude who really knows everything and is basically the entirety of the companies 'new technology', and about 3 dudes who kinda know enough to let the first dude take PTO. Then everyone else in the industry figures it out a year or two later. If the company didn't do anything with their heard start, or can't keep up their momentum of being a market leader. The company just floats waiting until it finds it's next "dude who had a really good idea" That being said the best part of working for a startup is when that dude quits, or the idea is now 8 years old they let you keep the macbook when it eventually closes down as a company.
My favorite part was when our development team was far ahead of sales Lots of idle days and free we work beer and rewriting on a third different react library because why not
Yeah taxation's primary role is to control inflation via dynamic redistribution and controlling for negative externalities. Here is an overview of MMT: 1) The state issues sovereign currency and thus cannot run out of that money because it can just print more, people also have to pay taxation in the sovereign currency mandating it's centrality 2) Since the state cannot run-out of money the only constraint is inflation 3) Increasing the monetary supply does not cause significant inflation if there is excess productive capacity in the economy 4) Taxes are not used for direct government spending since the government can just print money, instead they are used as a redistributive mechanism to control demand which includes pigouvian taxation and redistributing wealth as inequality causes market instability 5) Deficits are not inherently bad and can be beneficial by artificially controlling your monetary value and increasing productive capacity via actualising capital 6) MMT's focus is maximizing productive capacity in an economy via maximizing labour power through full employment and so forth, this is why some advocate for a job guarantee 7) Many MMT'ers also advocate for a UBI or more direct monetary control by effectively distributing and extracting currency supply to control demand MMT is empirical and objectively correct, central banks have been and currently use it everyday, it's a descriptive representation of reality.
You can see that in action when fiscal policies tighten. Govt spending is reduced and taxes increased, resulting in lower economic growth and falling inflation. A tightened monetary policy can also bring in a similar effect.
@@kiranmenon4797 yeah but in case of modern monetary theory it takes the whole in the other way round. For one I've not heard open advocacy for higher taxes to fight inflation and not for another reason
@@tomlxyz True. Probably because increasing direct taxes can bring about social backlash. However, one might see hikes in areas of indirect taxing, quite common in the developing world. But as is the case with anything economic, the answer is not always binary. You’ll have to conclude by asking “and then what..?”
The sequence of the hawk tua girl going to bed and saying goodnight will live rent free in my head for many weeks to come. It is such a good voice clip.
Yea. Says guy who would have nothing to eat it not for other people’s jobs. Because i doubt he can run a farm and bane bread on his own. Truly pathetic piece of shit. A grifting leach, scamming people, while insulting actually productive members of society.
The astrology one got me because in my college astronomy class we dedicated an entire lab to proving that it’s a pseudoscience by showing that the probability of a horoscope accurately predicting your life is about the same as flipping a coin
@@bosserman444 Lower than 50% probability would imply astrology has a connection to potential outcome, but just inverted. 50% at least means its not related whatsoever.
@@tf9822 only if we assume that the predictions made are always on one of only two possible and equally likely outcomes. The horoscopes I´ve seen were not like that at all. My guess would be most horoscopes are so vague that you couldn´t possibly measure their accuracy, so I´m not sure how exactly they did the test. But I´d say if there was anything out there capable of "predicting your life" with 50% likelihood of being correct based on your date of birth alone, that would be *insanely* high.
Alright let's do tarrot card based stock purchases. Should I buy nvidia stock today? Nope. Should I buy Nvidia stock tomorrow? Well, that's lukewarm at best. Should I buy NVDia stock the day after tomorrow? Yes. With the power of savescumming omens, I can make them say what I want them to.
Thanks Richard, it has been an awesome year of watching your videos. I feel I learn something everytime and value your smug yet pinpointed humour. May you and your wife have a wonderful 2025.
Luke Belmar tells people to buy his course to become rich because he was once poor and he did it all by himself but he just forgets to tell people that his grandfather has hundreds of millions.
I find it kind of refreshing how dumb a lot of these finance TikToks sound. Typically gurus are better at pretending to be intelligent or know some secret. I mean come on cite some bogus sources, use a bunch of big words to say nothing, or lie about history a bit. I guess that barter guy was trying his best there but I don't think he codes as smart even for dummies.
Whenever you see a type of content that you don't think anyone will fall for but there's so much of it then people are probably falling for it. You probably think they sound dumb because of what you already know/expect to hear but I'm pretty sure those are factors that make others believe in it more. The anti mainstream trend makes being different like that more trustworthy
@@Magic_beans_ yeah the scam self-filters troublesome people by being obvious to anyone with a modicum of intelligence and tempting to those without it.
No teacher is infallible. I do question the "i was taught this in school" allegation, in general, because I've heard people say that about the dumbest things and cannot believe a teacher would do that. Or maybe this is a newer consensus with historians since you went to college. I will say that many colleges in the US promote pretty bad economical ideas as facts of life, specifically. They teach things as if markets and people operate perfectly and it's actually ending up with a ton of negative issues in societies because people are deluded into believing making those choices are good but they actually cause many of the problems we have nowadays. Back to the original topic, I've heard about barter systems as well, and I've also heard that the idea that there were barter systems is largely mythological.
I understand the point. Still it’s common sense bartering was the earliest form of exchange. However, it makes sense as soon as a community developed more than a few dozen people another form of exchange would be developed and that bartering wouldn’t scale well. Before bartering it was probably I take whatever I want if I can… I’m not sure what the point is of dispelling this as a myth except maybe to point out it’s unlikely a farmer would have traded land in any kind of barter.
I love these videos! I’m so glad you are back to doing them. They’re funny and educational. I had no idea about the monetary theory purpose of taxation!
Omg that "crypto mom" has gotta be the epitome of todays parents....shes not smart, cares about social media more then good parenting and proper financial responsibility....she shouldnt have a platform to try to shill terrible ideas to impressionable children or unfortunately parents...also shouldnt be using her kid for it either
How refreshing it is to have someone in the world of finance humble enough to refer to themselves as an "analyst" instead of "EXPERT" kudos to you, Sir.
Glad I found this channel. I watched for a while now, and have found it to be clear, straight forward, and an honest opinion. Looking forward to watching more in 2025. Happy New Year
Hey Richard, I liked the bit about barter. It reminded me of the Irish banking strike of 1970. Tim Harford at the BBC wrote a great piece about that and the use of tally sticks. It would be good to hear your perspective on how that compares to the promises made by crypto projects. Very different but conceptually related.
20:35 tangent deep dives are fascinating - would love more on the history of economics, especially where it expands on and clarifies what we've been traditionally taught.
Love the deep dives, the one on how credit systems were the primary form of commerce makes sense- I have to imagine it was a mix of both, as whatever was convenient, but since the total number of people you would trade with over a year was so much lower, that convenience could go a long way.
Thank you for going into a bit of detail on the barter myth. It's so frustrating that this continues to this day - even being taught in college-level economics classes.
These are some of my favorites videos from you man With so much misinformation out there, it feels good to see reason come to light Wishing you good luck for 2025!
It won't go to zero. If it goes low enough in price one day there will most likely be enough buying pressure to keep it from collapsing in price to zero.
Regarding patterns - it goes incredibly deep. There was an experiment in vitro, with small clusters of human neurons. They 'preferred' damaging zaps to a harmless ones IF the damaging ones were administered in a structured, orderly fashion.
1:40 Yes, thank you. The government doesn't need taxes to spend money. Taxes are there to reduce the money that is in circulation. It is part of inflation control.
This series always delivers. I’d love to see you do a video on the Smith Maneuver. I’m going back and forth on whether to do it and would love to get your take on it.
Another point against buying the Nvidia AI investments: they are Nvidia customers (because AI). When Nvidia invest in them, they get a lot of that money back as purchases of H100s, so they buy at a lower price that you can.
Honestly really appreciate this reviews because Tik Tok feels too fast and too easy for something as complicated as investing and finance so yeah really appreciate you breaking it down :)
It was interesting thank you! I’m currently getting my MS in applied BUSN analytics. Three more classes left, and I’m in currently in a corporate finance class - I enjoy learning about bartering and clay tablets more than doing dividend calculations!😅
Excellent critiques on the different investing and speculating strategies. The personality and comedy are icing on the cake. I would like an invite to the 1 million subscriber party please.
You were much more kind to the astrologist finfluencer than I was anticipating you to be. I was thinking some very disparaging things during her clip, lol.
I didn't know you were educated on MMT and Graeber works on money origin! It's not something thought on the Econ and Finance colleges of my country (Spain). Happy New Year, Richard!
When people rant about the dollar not being worth anything because of “government printing” I tell them to just give me their worthless dollars. If it’s such a bad medium of exchange, I’ll be glad to take that burden off their hands.
It’s about the Systemic issues it causes. I should not be able to borrow money to put into leveraged S&P instruments and never go to work. But like if that’s the world you guys want to have I’ll live off it.,,,
@@NickyBlue99 the Feds have shown that they would rather accept inflation over asset Volatilty. Last time the S&P dropped by 20% they expanded the money supply by 5 trillion dollars. And that’s just 2022.
I enjoyed the aside of the "credit system" economy. It reminded me of Niall Ferguson's "Ascent of Money" and Judge Richard Posner's "Economics of Justice", both of which I found enjoyable and informative reads.
Thank you. Please more deep dives in 2025. Your insight is thoughtful and well rounded with much needed crass and hard truths. Thank you sgain please keep doing what your doing.
Teaching your 11 year old to gamble half of his allowance on crypto, and to be proud of it, is wild af
Yeah that's way too late, start them at 7!!
Also did she say his name is "Jetman"??
Yeah, I'm 30 and a father; that woman is insufferable.
This is partially why younger people have no money. They are gambling it all in an attempt to be called 'diamond hands'.
It's the ultimate definition of 'looking rich instead of being rich.'
Believe me, those children will grow up with a lot of addiction problems surrounding money and it will impoverish them.
She should be teaching him to buy divided ETF'S, BDC'S, REIT's and closed in tax free stocks.
@@NvidiaRTX5080 what I do is give them their allowance, but then on the next week ask them to return 75% of it as taxes, and if they can’t I take them from their next payment with added fees.
They need to be prepared for what’s coming to them!
"Don't work, just print the money!" That worked wonderfully for Zimbabwe.
Isn't he really calling on people to counterfit?
And Venezuela, Weimar Germany, the Roman Empire…
MMT is actually a very old, very *stupid* idea that’s been many, many times before. And just like Communism, it *fails* every single time it gets tried… but *this* time things will be different…
And yet we're all printing money these days and slowly going to shit. Glad I'm saving assets and not cash.
@@alexjulius69what are you saving for? Are you going to spend any of it?
@@DrumNBassed Obviously, I'm saving assets to get richer. Like the saying goes, rich get richer, it's all because the rich own assets and they're the ones that inflate the currency, making peasant life miserable, while theirs more affluent.
Finally....i ve been waiting 12 months for these 20 minutes!!!
Such panderous comment. My God...
thank you
That's what she said.
Tell me about it. My wife also only let's me have it on my birthday 😭
I really appreciate you working to dispel the bartering myth! It wasn't new information to me, but i do still remember how popular the "everyone only bartered goods in hand until coins" story was and is.
Someone knows their David Graeber…
I think if you dig into it, you’ll find that this bartering story is just that: a story. It’s designed to illustrate the need for some sort of medium of exchange.
I didn't know about it but I also loved that bit of knowledge that was shared. It's also interesting to think about because people who are very anti capitalist always want to "go back" to a bartering system but it seems like even thousands of years ago humans were fully aware that was inefficient.
one thing that you needed to remember about how we use money today is that capitalism is a very new invention; it started from the black plague in medieval Europe. For most of history the idea of buying something important was a bureaucratic process. Back in the large empires of Rome and Persia, coinage was used for smaller purchases. Anything that was worth more than something you could sell and forget about was bought with favor. Land, construction and trade were often exchanged for future returns and shouldering responsibility. What changed with capitalism is that it gave non-politians and non-nobles the right to use acquire more valuable things without the direct intervening of a bureaucratic enforcer (by that I mean some purchases can be done between two parties and did not need express permission by the government, like how buying a iphone doesnt require a government license)
Even today we see the same system, when someone spends 44 billion to acquire a company, it impossible to pay with raw currency and often means exchanging assets for deeds to other assets. The only difference now is that the world is far more productive than ever before so buying a home or a car with cash has a smaller relative cost than a home or vehicle 1000 years ago. But despite that we still need to have the change of ownership overseen by a judge in special circumstances, so in truth the system is not all that different, we just evaluated a change in buying power.
I suggest reading Tom Standage’s books on the history of food and drink, an edible history of humanity, and a history of the world in 6 glasses. He talks about how the ancient civilizations very logically used rations of grain or drink as essentially money, since everyone needed them and you could standardize the units of it.
When Uranus is in prolapse I invest according to TikTok trends
😭😄🤣😂😆😅
My fantasy....
@@NickyBlue99 Someone should create a Securities Exchange for goats. A Goat-SE if you want.
Looking at star charts to invest is ridiculous. You should look at the price action chart. The famous cock and balls pattern. A strong bullish sign.
@@kurtmueller2089 the whole world is the "Greatest of all time Stock Exchange"
I swear the first guy you reacted too looks like the "if you want to learn international business, go international and do business" guy
It is. His name is Luke Belmar and he is hilarious because he is actually serious when yapping bullshit
Sounds like US where being a clown pays better than being an engineer or a mechanic
When I see someone who gives financial advise and aren't wearing any socks alarm bells go off.
If Brutalism was a Holiday sweater.
Great Idles album
Da
If below the frame, the sweater has a protrait of Paul Rudolph with a red nose, I would lose it.
😂
The way I wheeze laughed
To the penny stocks point...
As someone who's worked in tech for years, and has been in companies in hypergrowth and such. Just about every 'cutting edge technology' Is one dude who really knows everything and is basically the entirety of the companies 'new technology', and about 3 dudes who kinda know enough to let the first dude take PTO.
Then everyone else in the industry figures it out a year or two later. If the company didn't do anything with their heard start, or can't keep up their momentum of being a market leader. The company just floats waiting until it finds it's next "dude who had a really good idea"
That being said the best part of working for a startup is when that dude quits, or the idea is now 8 years old they let you keep the macbook when it eventually closes down as a company.
My favorite part was when our development team was far ahead of sales
Lots of idle days and free we work beer and rewriting on a third different react library because why not
Sounds great to know you could be out of a job any day of the week!
As a tech worker, the "3 dudes who kinda know enough to let the first dude take PTO" is truly spot on.
Junior dev: Where is the documentation?
Senior dev: I AM your documentation.
I’d never heard of the modern economic theory of taxation as a deflation mechanism. Always learn something on this channel! Happy holidays!
Yeah taxation's primary role is to control inflation via dynamic redistribution and controlling for negative externalities. Here is an overview of MMT:
1) The state issues sovereign currency and thus cannot run out of that money because it can just print more, people also have to pay taxation in the sovereign currency mandating it's centrality
2) Since the state cannot run-out of money the only constraint is inflation
3) Increasing the monetary supply does not cause significant inflation if there is excess productive capacity in the economy
4) Taxes are not used for direct government spending since the government can just print money, instead they are used as a redistributive mechanism to control demand which includes pigouvian taxation and redistributing wealth as inequality causes market instability
5) Deficits are not inherently bad and can be beneficial by artificially controlling your monetary value and increasing productive capacity via actualising capital
6) MMT's focus is maximizing productive capacity in an economy via maximizing labour power through full employment and so forth, this is why some advocate for a job guarantee
7) Many MMT'ers also advocate for a UBI or more direct monetary control by effectively distributing and extracting currency supply to control demand
MMT is empirical and objectively correct, central banks have been and currently use it everyday, it's a descriptive representation of reality.
You can see that in action when fiscal policies tighten. Govt spending is reduced and taxes increased, resulting in lower economic growth and falling inflation. A tightened monetary policy can also bring in a similar effect.
@@kiranmenon4797 yeah but in case of modern monetary theory it takes the whole in the other way round. For one I've not heard open advocacy for higher taxes to fight inflation and not for another reason
@@tomlxyz True. Probably because increasing direct taxes can bring about social backlash. However, one might see hikes in areas of indirect taxing, quite common in the developing world. But as is the case with anything economic, the answer is not always binary. You’ll have to conclude by asking “and then what..?”
MMT is just the fantasy of economic illiterates to continue justifying the government's fiat-debt monetary system scheme.
“Pluto is entering aquarium” I did notice that 😂
Lucky a have a big aquarium and have room to stock some more fish
@@Neo1-h7d That dog and his silly hijinks.
17:58 "I did notice that," says Richard with *immense* restraint of pen and tongue
The editing in this video was perfect, just enough to be funny without being some “hyper cut up brainrot” video. Great work!
The sequence of the hawk tua girl going to bed and saying goodnight will live rent free in my head for many weeks to come. It is such a good voice clip.
"Imagine being so stupid that you have a job" made me laugh so loud I had to explain myself to those around me
Yea. Says guy who would have nothing to eat it not for other people’s jobs.
Because i doubt he can run a farm and bane bread on his own.
Truly pathetic piece of shit.
A grifting leach, scamming people, while insulting actually productive members of society.
The astrology one got me because in my college astronomy class we dedicated an entire lab to proving that it’s a pseudoscience by showing that the probability of a horoscope accurately predicting your life is about the same as flipping a coin
Yep religion is cringe
50%? That’s actually horrifying high
@@bosserman444 Lower than 50% probability would imply astrology has a connection to potential outcome, but just inverted. 50% at least means its not related whatsoever.
@@tf9822 only if we assume that the predictions made are always on one of only two possible and equally likely outcomes. The horoscopes I´ve seen were not like that at all. My guess would be most horoscopes are so vague that you couldn´t possibly measure their accuracy, so I´m not sure how exactly they did the test. But I´d say if there was anything out there capable of "predicting your life" with 50% likelihood of being correct based on your date of birth alone, that would be *insanely* high.
Alright let's do tarrot card based stock purchases.
Should I buy nvidia stock today?
Nope.
Should I buy Nvidia stock tomorrow?
Well, that's lukewarm at best.
Should I buy NVDia stock the day after tomorrow?
Yes.
With the power of savescumming omens, I can make them say what I want them to.
Also explains why someone's "word" was their "bond" and why someone not being true to their word was such a big insult.
Well that's the definition of bond
@@7792pnaurfr james bond
Call me a bondulance
Thanks Richard, it has been an awesome year of watching your videos. I feel I learn something everytime and value your smug yet pinpointed humour. May you and your wife have a wonderful 2025.
I found the tangent about the misconception of the bartering system really interesting!
Go read Debt: The First 5000 Years by David Graeber if you want a more through explanation. I read it in college and it blew my mind
@@baore2422 This book is my Gospel of Truth. I swear. It's enlightening.
Luke Belmar tells people to buy his course to become rich because he was once poor and he did it all by himself but he just forgets to tell people that his grandfather has hundreds of millions.
I find it kind of refreshing how dumb a lot of these finance TikToks sound. Typically gurus are better at pretending to be intelligent or know some secret. I mean come on cite some bogus sources, use a bunch of big words to say nothing, or lie about history a bit. I guess that barter guy was trying his best there but I don't think he codes as smart even for dummies.
Don't be too sure. Take note that half the population is below average.
Whenever you see a type of content that you don't think anyone will fall for but there's so much of it then people are probably falling for it. You probably think they sound dumb because of what you already know/expect to hear but I'm pretty sure those are factors that make others believe in it more. The anti mainstream trend makes being different like that more trustworthy
It may be intentional. Historic inaccuracies and logical fallacies filter out people who might question the sales pitch.
@@Magic_beans_ yeah the scam self-filters troublesome people by being obvious to anyone with a modicum of intelligence and tempting to those without it.
I will follow the call to action and put my engagement vote behind more tangents!
Love a good tangent.
The point on bartering was very interesting. It goes against what I have been thought in college, yet it makes complete sense.
Did you mean "taught"?
@@7792pnaurfr If you've seen college grads recently, thought not taught is right...
No teacher is infallible. I do question the "i was taught this in school" allegation, in general, because I've heard people say that about the dumbest things and cannot believe a teacher would do that.
Or maybe this is a newer consensus with historians since you went to college.
I will say that many colleges in the US promote pretty bad economical ideas as facts of life, specifically. They teach things as if markets and people operate perfectly and it's actually ending up with a ton of negative issues in societies because people are deluded into believing making those choices are good but they actually cause many of the problems we have nowadays.
Back to the original topic, I've heard about barter systems as well, and I've also heard that the idea that there were barter systems is largely mythological.
@@HermitGeek or maybe English isn't their first language. Don't be such an ahole
I understand the point. Still it’s common sense bartering was the earliest form of exchange. However, it makes sense as soon as a community developed more than a few dozen people another form of exchange would be developed and that bartering wouldn’t scale well.
Before bartering it was probably I take whatever I want if I can…
I’m not sure what the point is of dispelling this as a myth except maybe to point out it’s unlikely a farmer would have traded land in any kind of barter.
I love these videos! I’m so glad you are back to doing them. They’re funny and educational. I had no idea about the monetary theory purpose of taxation!
Love the editing. Glad you're lightening your production load. Also the editing is good!
Omg that "crypto mom" has gotta be the epitome of todays parents....shes not smart, cares about social media more then good parenting and proper financial responsibility....she shouldnt have a platform to try to shill terrible ideas to impressionable children or unfortunately parents...also shouldnt be using her kid for it either
I know this makes me a huge dork but I got so happy when you mentioned that early societies were credit-based, not barter-based!!
How refreshing it is to have someone in the world of finance humble enough to refer to themselves as an "analyst" instead of "EXPERT" kudos to you, Sir.
Glad I found this channel. I watched for a while now, and have found it to be clear, straight forward, and an honest opinion. Looking forward to watching more in 2025. Happy New Year
I really enjoy the educational tangents. They add a lot of depth to an otherwise more fun focused video.
My favorite party pooper!
Love these Richard, thank you. Happy New Year to you. Glad to be a part of your community!
I love the world's dryest sarcasm that you bring to the finance space 😂
Two words: Patrick Boyle.
You're welcome.
Both awesome Channels! I follow Patrick due to his Rap Music criticism
I really enjoy the deviations of the main topoic to explain mmt and credit economies, it adds a educationaly part which most people arent aware of
I got a kraken ad, wasn't watching the screen, and thought it was just another tiktok haha
I appreciate that you managed to be critical of points while still avoiding to dress people down completely. It felt different, and l liked it :)
Loved the history of barter and IOUs. Super interesting, it would be cool for you to do a whole video of finance history and misconceptions.
I found this really interesting, thank you. I also appreciated the dry humour included. Great stuff.
Hey Richard, I liked the bit about barter. It reminded me of the Irish banking strike of 1970. Tim Harford at the BBC wrote a great piece about that and the use of tally sticks. It would be good to hear your perspective on how that compares to the promises made by crypto projects. Very different but conceptually related.
I enjoyed the deep dives! I also found that if you did a deep dive, my portfolio value went up, so please do more.
20:35 tangent deep dives are fascinating - would love more on the history of economics, especially where it expands on and clarifies what we've been traditionally taught.
Same
Love the deep dives, the one on how credit systems were the primary form of commerce makes sense- I have to imagine it was a mix of both, as whatever was convenient, but since the total number of people you would trade with over a year was so much lower, that convenience could go a long way.
"Pluto is moving into the sign of Aquarius",
Bagel response, "I did notice that" 😂
as an economics and philosophy student who has to read adam smith every year, thank you SO MUCH for pointing out the myth of barter ❤
Your sweater is fire!
I never expected Mr plain bagel to say the words "hawk tuah"
I don't know how to feel
Thank you for going into a bit of detail on the barter myth. It's so frustrating that this continues to this day - even being taught in college-level economics classes.
Currency is just epic tho
Economics is basically just a religion seeking to justify the horrors of capitalism so of course they don't care about facts or reality.
Congrats bro. Very close to 1m subscribers.
These are some of my favorites videos from you man
With so much misinformation out there, it feels good to see reason come to light
Wishing you good luck for 2025!
i really like the fact that you are objective in this space, it makes the difference for me. Thank you.
When Doge goes to 0 the kid is gonna learn a lesson that’ll save him a lot of money when he’s older.
I hope he does learn it, his mom seems to be quite a pusher for crypto.
It won't go to zero. If it goes low enough in price one day there will most likely be enough buying pressure to keep it from collapsing in price to zero.
@@NickyBlue99 Uh huh, cheers to that. If it goes low enough there will be no incentive to buy, and a lot of bag holder willing to sell.
Regarding patterns - it goes incredibly deep. There was an experiment in vitro, with small clusters of human neurons. They 'preferred' damaging zaps to a harmless ones IF the damaging ones were administered in a structured, orderly fashion.
Happy new year Richard! Thanks for being the voice of reason in this space
Absolutely love your tangents on any and all topics you come across, keep em coming
My brain can very quickly draw a connection between me pressing the buy button on a stock and that stock going down.
Cool history lesson on historical economics and credit vs barter!
hey, just to say: the barter and iou bit, super interesting and relevant fact i had never knew that i m so happy to have randomly learned today
Happy new year from Norway, mr Bagel!
1:40 Yes, thank you. The government doesn't need taxes to spend money. Taxes are there to reduce the money that is in circulation. It is part of inflation control.
Yeah, it is fungible.
This series always delivers. I’d love to see you do a video on the Smith Maneuver. I’m going back and forth on whether to do it and would love to get your take on it.
Also you're the only person i'll watch do reactions because you genuinely teach along side it instead of just recycling slop
The kid picking dogecoin because of the cute dog pic is unironically a better investment strategy than most retail crypto traders
the deep dives were amazing, thank you :)
Don’t stop making these videos!!! Appreciate the insight.
Another point against buying the Nvidia AI investments: they are Nvidia customers (because AI). When Nvidia invest in them, they get a lot of that money back as purchases of H100s, so they buy at a lower price that you can.
Plus NVidia just has an incentive to try to maintain growth in the AI sector in general.
Merry Christmas, love your videos and sensible attitude and approach. Great as usual ♥
Also I became 95% dumber listening to the astrology crypto scam girl near the end...
Man, I had no idea people used astrology for investment analysis, what a great time to be alive hahahahahah
The barter system „well actually“ part was really interesting. Thanks for sharing!
Just like how as kids when we went to catch pokeman, we all had our "hacks" to make sure the pokemon got caught. I'd hold the A button down.
So close to 1 million subscribers 🥳🎉
Honestly really appreciate this reviews because Tik Tok feels too fast and too easy for something as complicated as investing and finance so yeah really appreciate you breaking it down :)
17:58 our boy knows his astrology? 🤣🤣😂😂🤣🤣this is now my favourite comedy channel. I hope you had a merry Christmas and have a happy new year!
I can’t explain how much I LOVE these videos
Richard's deadpan humor is getting dangerously close to matching Patrick Boyle. Patrick, pull up the drawbridge! The Bagel is coming for your crown!
That moment of silence followed by google searching braz had me in stiches!! Comedic genius. XD
Thank you for talking about MMT and the barter myth. Would love to hear your thoughts on MMT or other macro economic theories
I liked the tangent on the history of credit, stuff like that is great for provoking deeper thoughts on how our economic systems work.
Almost 1 million subs lesss go baby
It was interesting thank you! I’m currently getting my MS in applied BUSN analytics. Three more classes left, and I’m in currently in a corporate finance class - I enjoy learning about bartering and clay tablets more than doing dividend calculations!😅
Heyyyy the bagel neon!! 😂 Great work! Cool video! Thanks for your effort! 🤙✌️
I loved the tangents/deep dives !! Thank you
Excellent critiques on the different investing and speculating strategies. The personality and comedy are icing on the cake. I would like an invite to the 1 million subscriber party please.
Loved the editing in this video 😂
Hell yeah! Let’s make this a tradition!
You were much more kind to the astrologist finfluencer than I was anticipating you to be. I was thinking some very disparaging things during her clip, lol.
I didn't know you were educated on MMT and Graeber works on money origin! It's not something thought on the Econ and Finance colleges of my country (Spain). Happy New Year, Richard!
I personally loved hearing yet another person explain that no, barter was not in fact a thing. Loved the video!
When people rant about the dollar not being worth anything because of “government printing” I tell them to just give me their worthless dollars. If it’s such a bad medium of exchange, I’ll be glad to take that burden off their hands.
It’s about the Systemic issues it causes.
I should not be able to borrow money to put into leveraged S&P instruments and never go to work.
But like if that’s the world you guys want to have I’ll live off it.,,,
@@TQFMTradingStrategies That is not a critique of the currency. At best, it's about banking practices.
@TQFMTradingStrategies Yea, until there is a down turn and your leveraged funds go bye bye.
@@NickyBlue99 the Feds have shown that they would rather accept inflation over asset Volatilty. Last time the S&P dropped by 20% they expanded the money supply by 5 trillion dollars. And that’s just 2022.
@@NickyBlue99 once the feds stop printing yes it could happen.
Which is my point.
Personally I hope they do. That’s when the real games begin 🤪
God good, don't ever change. Your channel is always educational for me and many others.
Whoever the editor is is killing it 😂
Happy Holiday's Mr. Bagel
You need to these more often. 🙏
Richard looking like he's about to unveil the iPhone 17
No Santa Outfit this year? Im dissapointed.
There’s always next year - I still gotta make that $70 worth it
I enjoyed the bartering-theory nuance. Credit makes so much sense when you put it in historical context- bartering would be a pain in the ass
Great video. Yes going into the history thing seemed to fit. Thanks.
So happy when you do another of these :D
How long did you scroll through tic toc to find this gems 💎? 😂😂😂😂😂 I guess not long at all.
I enjoyed the aside of the "credit system" economy. It reminded me of Niall Ferguson's "Ascent of Money" and Judge Richard Posner's "Economics of Justice", both of which I found enjoyable and informative reads.
Thank you. Please more deep dives in 2025. Your insight is thoughtful and well rounded with much needed crass and hard truths. Thank you sgain please keep doing what your doing.
Best description of MMT in pop youtube finance. Thank you Plain Bagel 🙏