And it’ll never end cuz people have more culture than they have money. culture feels more compelling when it’s basically all you have. It feels worse to lose something than to gain something. It’s a catch 22 for the masses. It would take russian revolution level issues to get people interested in fighting for their economic conditions (an ultimatum between dyeing and revolting).
Peter totally surprised to be asked clever, relevant important questions!!! Media in general is so disappointing. Breaking points a breath of fresh air!!!
Zero conversation about regulatory bodies and USDA approval requirements? This is a narrative story without scrutinizing what allows slaughter houses a “monopoly”. If your neighbor has an animal raised for meat, can you legally buy cuts? If they have 15 heads of cattle can you buy a single steak, the answer legally is no. You have to buy large quantities. Modern regulations force monopolies. All roads lead back to government interference.
Speaking as a CPA, blame inflation mainly on massive goverment spending (using our taxpayer money) and the Federal Reserve's monetary policies based on MMT ideology (including interest rates being set way too low for way too long). Inflation is a hidden tax and literal theft by government through intentional devaluation of the currency and as a result, citizens' purchasing power. Therefore, the Federal Reserve's inflation target should be 0%, not 2%+ CPI. Anything more than 0% is theft by the government from the people. Not to mention, "2% CPI" is really 5%+ true inflation if you use an independent measure of inflation like Truflation or ShadowStats rather than the government's artificial CPI. The government's CPI metric is intentionally designed to leave out certain baskets of goods and services that Americans spend their money on, and disgraceful "hedonic quality adjustments" because it benefits government to underreport true inflation (to lower the real costs of paying huge government debt, and to limit increases to government payouts like social security).
This is literally just bs talking points. The idea that a healthy rate of inflation is 0% is not held by any economist. And the fact that the fed should “bring pain until inflation is at 0% would bring far more harm to normal Americans and the economy than any government spending. And it’s been proven that most of the inflation was corporate price gouging. Wow it’s almost like everything you said was wrong!
@@SurefireMa156 Feel free to refute my specific points, but you have nothing other than general reliance on some "economists" who led us to this mess in the first place. Keep in mind the current administration's top economist (Bernstein) has ZERO economics experience or even education
@@SurefireMa156 Then lets see you put an argument on the table that refutes his point bud. This whole nope thing makes you look like a shallow thinker.
I like how he talks about how "we" are not "trained" to see Monopoly power in the world. Lol, but once you are trained, you can help but see it. Blows me away, everyone is asleep at the wheel...
Global factors definitely caused many troubles for the world and average Am’s, but the “specktacular” character, audacity, vision and results for average Am’s our gov officials consistently achieved throughout was truly remarkable!!! “Wow” 🙄
Literally was just thinking to myself: I wonder if global currency is a bad thing? 🤔 Then I saw this title and clicked immediately. I already watch your show, so it's not a huge surprise it was on top, but still. It was quite the coincidence.
The great mystery of globalization (in my opinion) is how it works financially to send raw materials, components and finished product all over the globe multiple times, and somehow that gives consumers low prices. Shipping, rail and trucking is not that cheap.
I can see the thumbnail you guys used for this clip and probably others were generated by AI. FYI There are no ethically trained and deployed generative image platforms out there at this date, the data sets are all compromised, even Adobe's. Most of the datasets were scrapped from the web and utilized without the consent of the creative works included or IP holders, under questionable deployments of nonprofit arms of companies and bad faith use of fair use laws, to generate platforms then deployed by for profit arms as paid services. For Firefly much of the Adobe stock it's trained on was uploaded pre AI so it's a stretch to think those creatives had their work being used to train bots to replace them in mind when they uploaded. It stretches the notion of consent and then they're the other recent issues that have come up with them. All to say these are for profit image generating machines built using unlicensed and stolen labour from the people they're going to compete with. They are being used often to displace creative human labour by corporations who just care about how much money they're making and not whether or not you can pay your bills. By using and paying to use them, you're encouraging this unethical conduct and helping to bankroll their court causes against the suits they are facing in court. As a working artist, I would appreciate it if you showed solidarity, resisted the temptation, and didn’t use them at all, please. I call on you to boycott generative AI until such time as it can be used ethically, in solidarity with creative workers. In the meantime I'm sure you could get an actual human artist to draw this stuff for you and a lot of them need the work badly right now.
This is why the universe must kick in sometimes. We will keep doing stuff to we kill eachother and everything else. Without even thinking about it. I talk alot of trash. But i really am very decent. And sentient. Trash talk is fun. Till im punched of course lol.
Wage labor is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The employer-employee relationship is a very insidious dynamic. Employment is a rental contract, like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
It's psychopaths. Keep it simple dude. Taxes and rent? Same thing. Minimum wage? Wrong argument. You could raise it to $25/hr but that won't mean anything if your landlord doubles your rent (or decides to collect on service fees). Entitlements are synonymous with rights. Privatization under a fiat currency system circumvents the Constitution. Institutions have no checks and balances, their own set of rights, and what you get is only the privileges they see fit. It is complete inversion of what this was intended to be.
@@kevinpowers2959 Technical, labor power is bought and owned by the boss. Your rent yourself to a boss where you DONT have a say in management, that is very different from renting your self to a worker co-op where you DO have a say and you get a share of profits. Less alienation from management and more profit sharing, that's what I want, but sure, cutr strawman that doesn't solve anything.
Yeah he claims he was totally fine not being able to be present in the hospital after his child's birth but the thing that frustrated him was not being able to find hand sanitizer in the stores lol.
I agree capitalism is NOT the problem but another version of capitalism which is named shareholder capitalism is a HUGE part of the problem. Profits over any kind of ethics is outrageous. That’s my opinion
@@marywalters1181I’m a capitalist but what we have had and have now is not capitalism. It’s mostly monopolies, collusion and price fixing. We should all know the difference really really well. 😊
I am your sister from Yemen, and by Allah I only spoke out of hunger and distress. My mother, my brothers, and I lessons and tears. We are in a situation that only God knows about. God is sufficient for us, and He is the best disposer of affairs for those who brought us to this situation. By Allah Almighty, I did not write this appeal out of distress and distress. Poverty, O world, they have felt it So, I hope for you. By Allah Almighty, Lord of the Great Throne, he ate what I had in the house. By Allah, my brothers, he is my brothers by sitting in the house. Who has no food? By God, we are in a very difficult situation. We have 4 people entering the house, and my father has died, and there is no one who can depend on us and who lives in it.We live in a rented house because we cannot pay the rent we owe. '''''''''''''''''''''''''''''''''''''''''' ''''''''''''''''''''''''''''''''''''''''''''''''' ''''''''''''''''''''''''''''''''''''''''''''''''' ''''''''''''' My brother, my first words are: I swear to God that I will not lie to you or deceive you. I am a Yemeni girl displaced from the war. My family and I live in a rented house in Al-Shahrab 20,000 Yemenis among us, and now we owe 60,000 for 3 months. The owner of the house is one of the people who does not have mercy, by God, my brother. He comes every day, insulting us, talking about us, and moving from the house to the street because we were unable to pay him the rent. The neighbors saw us crying and came back.They came back to talk to the neighbors and we were given the weekend. So we made him swear by God. He will take us out into the street. Have mercy on him and us. Our country is due to this war and we do not find food for our day, and my brothers and I live in a difficult life. Our father died, may God have mercy on him, and we have no one in this world who was with us in these harsh circumstances. My younger brothers went out into the street and saw...The neighbors eat and stand at their door in order to give them bread even if they break it. By God, to whom belongs the dominion of the heavens and the earth, they closed the door and expelled them and came back crying. They are dying of hunger. No one has mercy on them and a holiday is returned. I have made a living, and now if one of us helps us with a kilo of flour, I swear to God, I am dying of hunger. My brother, I am an alien to God. Then, I ask you to help me for the sake of God. I ask you, by God, to love goodness and to help me, even if you can, by messaging me on WhatsApp.On this number 00967736246190 and ask for the name of my card and send it and do not be late and may God reward you with all the best, my brothers Sagar, see how they are and help us and save us before they throw us out in the street, you will be lost or we will die of hunger. My family and I ask you, by God, if you are able to help us, do not be late and may God reward you well..`/--~«««~-♡~♡~♡~~•~•~♡~♡~♡~♡~♡~♡♡♡~~~:-◖-',`-',`-',`-',`-',`-',`-',`-',`-',`-',`-',`˹˛˹˛˹˛˹˛˹˛˹˛˹˛˹˛▪︎;,‘:.`|;,‘:.`|;,‘:.`|;,‘:.`|;,‘:.~:~¡~¡¡~;I.i.i.i.i.i.i.I.|-◖:`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`\&-•}&-•}&-•}&-😢🎉😢😢😢😢%%&&&\|√|_√|-√_√|_√_√|√|√|_\|√\|√|°\°||\°\√|√|`•_`•~^•~|π^|~^~•~^• ،.،
Cutting down your choices forcing you to buy from specific companies owned by specific oligarchs also making it impossible for competitors to catch up. And once you’re the only choice you no longer have to care about quality control or the satisfaction of the customer. And letting foreign people buy American real estate at inflated numbers with foreign laundered money has made the average price of a home a million dollars when our grandparents didn’t pay 30k for the same house. Things really need to change. It’s not the people who need new laws and hoops to jump. it’s our government who needs new laws to keep them in check.
JBS Foods has a 1.85% profit margin would you compete against that ❓ Uncle Sam takes around 30 percent yet no one on your side accuses him of price gouging.
The word you're looking for mi amigo is "Neo-Feudalism". But guess what, they already won the game and control everything. Nothing short of revolution or violence will change the system. But also guess what... Americans are some of the most apathetic and ignorant people on the planet so that will never happen.
@@johndellorusso9936 It's the GOVERNMENT, stupid. Obama's ACA and CCSS destroyed Retail and Education. Biden's Lockdown and Slüsh Funds went straight to Pharma and Wall Street Big Banks. Millennials are being depopulated under Democrats. 500,000 a year by opioids alone. They are after your Boomer Inheritance. And they'll get it by marching you off to EU.
They maximized for PROFIT (costs have never been higher). Resiliency, consistency, quality, cost to customer, safety, none of that is being prioritized
The reason these companies don't stock up for supply shocks or other economic disturbances is because they know that daddy taxpayer is always willing to bail them out. We need to let these over-extended businesses fail so that smarter people run them.
Not the taxpayers. It's our "representation". The only shocking thing is that people keep voting for them. It will be a disgrace for centuries that we've allowed this to take place
We need people with integrity to run things not just “smart” people. Are these people running it now really all that dumb when they know they will get bailed out when they don’t prioritize society or the customer? They’re being incentivized in this economic climate to act in this way
I agree with this in broad principle, but the countries we trade with ARE willing to subsidize their businesses. If we have a free trade policy, domestic businesses could fail and only foreign businesses would step in. A policy like this would require some level of protectionism so that the domestic market would be protected from nationalized businesses in other countries.
Peter Goodman missed a key component of Toyota's supply chain just in time innovation, that almost every other company misses. Keep in stock a supply of hard to source parts so that manufacture can continue if there becomes supply chain issues. Yet that costs a bit more money than doing it wrong and keeping no extra parts on hand with just a "little" extra risk.
Their strategy used to be the norm. Most companies had a warehouse and kept a number of parts to continue production. I was working when the just in time managerial shift and anti-monopoly laws were ignored. It’s all a legacy of neoliberalism and the capture of political power by capital. Why didn’t people see it? Because the MSM is owned by billionaires and their editorial bias ensures their interests come first.
@Toms7114 you're absolutely right, just in time is poorly implemented by just about anybody other than Toyota and Walmart due to issues with company culture and understanding the point behind the methodologies AKA a proper economic order qty formula takes these critical supply events into account but they hear "hold no inventory" and follow blindly Same thing for lean six sigma almost no one other than them really "gets it" bc of bonehead American management For those wondering I am a Supply Chain & Operations Professional who has literally worked on these issues at this scale
@@justanotheroldguy738 So when one particular group holds more wealth than the rest combined, that would make them the "wealthy". Thus the elderly is at fault... Still wanna play the blame game or are u ready to start fixing something for once?
Dont blame the wealthy. Blame the politicians that protect the wealthy. Without government bailouts, protections, and programs, monopolies would be rare and short lived.
The nature of corporations is to make profit for shareholders. Biggest problem imo is voters who focus on culture war issues and know nothing about issues like this
That’s the purpose of creating “white supremacy”. Keep the people at the bottom fighting against or seperate from those they actually should be in solidarity against the large capital owners and money based aristocracy.
Culture wars, yes. But also the problem is the government mandating that corporations must, in essence, focus on the shareholder (aka make profit/money) while totally neglecting the workers, the supply chain, and all the systems that depend on the company to actually run is just insane. This insatiable appetite we have for profit and utilizing the metric of "Growth" as success is just unhealthy, unrealistic, and brutally harmful to the average person and humanity at large. Thus you have, unfortunately, B*eing having airplanes falling out of the sky k*lling people all in the name of profit. Again, insane!!
You do know voters require politicians who will actually act on these things, don't you? Blaming the voter is never correct. While you're over there blaming the citizens, there are politicians out there distracting people from the real issues. Put the blame where it needs to be.
It still wouldn't help them understand that Wallstreet itself is now nothing but "Activist investing", holding EVERYONE hostage to either post up double digit Margins or get triple-digit 'Shorted' like Gamestop
I worked in the auto industry and directly managed JIT inventory as well as vendor managed inventory. Logistics and Supply Chain Management students were essentially brainwashed to believe that JIT inventory was some amazing revolutionary process. All it seemed to me was the bigger business smashing their inefficiencies onto their Tier 1 suppliers, the Tier 1 smashing the Tier 2 and so on. If you're late on delivery? F you, pay me! If the shipping container of your parts fell off the ship into the ocean? F you pay me! It was just an easy way for the F 500 companies to pad their bottom line.
Strangely enough , there were very lockdowns in developing countries like Bangladesh because the elites did not want their companies closed down . So there was no shortage of goods , shops were filled up . Poor and active people did not get Covid , only the elderly , over weight , coming from the upper and rich class got Covid . Many people did loss their jobs , but the numbers were not very large . Also another strange thing , number of Covid cases remained low despite most people not keeping distance or staying at homes
The rate of inflation yes. And it did slow. Inflation from supply shortages is essier to predict. But price gouging inflation is harder to predict bc it depends on if oil producers, big business near monopolies/cartels etc want to price gouge (how many companies own almost all the food?). Prices also don't usually come back once they go up.
@@carycunningham9510 The thing is you need to convince both incumbents from GOP and Dems to make this happen, and the 3rd biggest party in the US is the Libertarian Party, which is the most pro-oligarch party there is. So much political push needed to be done for so little return.
@@adamdrouin2295 Welp, snap your fingers and make it happen! You'll have to get through multiple three-letter agencies (FBI, CIA, DHS, etc) and millions of police, military, and private military contractors but hey, show us how it's done. Our corrupt politicians in the Purple Party only want to shrink government for the people (e.g. food stamps), but not government for corporations or the security state. But hey, you do you!
A good representative of this is gas prices. The US is literally producing the most oil ever, yet prices of the global commodity is still high. Private industry has no incentive to sell it locally if there is a higher bidder offshore
Opec cut production in retaliation to Biden’s ill conceived war on fossil fuels to placate the global warming theologians. That raised costs around the world, it’s what happens when a potato is elected President and lets children in his administration make policy.
I'm not sure I understand what this guy is saying. I hear him complaining but he isn't giving any real solutions other than more regulations and more government funded programs. Complete idiocy when your government is a debt hog and in debt 34.7 trillion. My best advice is buy from local farmers and anytime the government says I'm here to help you, run the other way.
Australia has a Gas shortage and are the biggest exporter of gas (making the least money on extraction too). So it doesn't even need to be a secret for people to accept shortages in the face of surplus to export. Not to mention that Australia pays more for gas then it does from exporting it and is finding out that countries it exports to are on selling the gas as a competitor (including back to Australia)
A lot of that is due to geographical factors. The distances between areas where gas is currently being drilled to where the domestic consumers are would be considered an "international distance" in most parts of the world. As for the part about the price being received from exports - that was due to contracts signed when the gas price was low. Annoying, but it's not like anyone knew that covid, etc was coming 10 years ago when the contracts were signed. If they allowed more new drilling, it could resolve some of these issues.
@@evanburrows1697 That don't cut the mustard. It's not a geographical problem that Australia gives its gas away when every other Government that exports gas, makes money off it, hand over fist. If Australia had proper royalties in place they could afford to fix the issue without new gas projects.
That's okay. Isn't totally correct when it comes to JiT either. Most JiT I've dealt with is financial ownership in practice. The parts are still in the area, just in a different warehouse. (Though many times they are even in the same warehouse.) Also just having "stuff" doesn't fix the supply chain. You need the right stuff. And you also need lift/sailings. When one of the busiest airports in the world for cargo and the primary link to the world's manufacturing floor (Hong Kong) goes to almost no commercial flights you are going to have problems moving goods. No one is keeping expensive cargo aircraft around "just in case" commercial lift vanishes. There were also other cascading affects that contributed, but "Just in Time" was only an arguably small part of the issue.
Sure, global trade has its downsides, but I hope that the ''First World'' realizes that it owes its comfort to cheap products and labor from the ''Third World''. Bringing the jobs back home is going to result in a huge drop of living standard for most people.
It's not that hard to understand. Lock people in their homes and not go to work and you will start a shortage very quickly. Companies that don't embrace "just-in-time" stocking levels have already gone out of business due to lack of competitiveness. Companies will always seek competitive advantage. It's either that or get eaten.
Whoa whoa whoa, Krystal, you mean we were lied to during the pandemic? Would you care to delve into all the lies during the pandemic or are certain ones still off limits?
Monopolies, Collusion and price fixing is the economic systems we currently have and that’s not true capitalism. True capitalism is a FREE MARKET of which we have not had for a very long time in many, many respects. My point is that true capitalism which I really believe in need to have regulation and guardrails to be effective and thrive. We must try to find consensus with and for our way of life and then stand up for ourselves with ourselves.
To be fair, true capitalism would mean no SS, no Medicare, no unions, no insurance, etc. Everyone would save up the money they earned to pay for all of these things.
@@DistrustHumanzI don’t particular agree with that but okey . True capitalism really means “Free Market Competition” this is the primary basis of capitalism and we don’t currently have that please refer to my first post which outlines this. Furthermore the people pay into SS, Medicare etc into a collective government systems which is also needed to have true capitalism as centralization in some capacity allows us to regulate monopolies, police, military etc. so capitalism is more focused on the private sector but also need the public sectors for regulation long story made very short.
@@DistrustHumanzBut also to be fair I don’t completely disagree with you. However considering the balance of societies wealth is so lopsided this social systems play a vital role in civil stability we can agree on that I’m sure. Furthermore, if monopolies weren’t allowed to thrive and we were closer to a true capitalistic society then these social system could theoretically contract somewhat so I agree. Lastly some of capitalism is only theory and ideal with no real proper application. Let’s not also forget these so called pro free market companies also use taxpayer funding and that’s a whole other can of worms.
@@JW-dc8hkcapitalism is just power distributed by capital. It will always result in capital forming governments to protect the interests of capital holders. Which creates corruption at behest of the capital holders, monopolization in the interest of the primary capital holders, assassinations of perceived threats to the capital holders, exploitation of those lacking capital, and so on. There is no incentive to self-regulate capitalism, because at its roots it serves the interests of the majority holders of capital, who live beyond your reach and have absolutely no concern for your prosperity because they just ultimately want your power (capital) too. Then when the vehicle for their generation of capital and its security (a state) crashes and burns, they can and do just move their capital into other markets to subvert and overtake their vehicle for the generation of capital (the state). Regulate away… laws mean nothing without the mechanisms to enforce them, and the oligarchs understand that, and it’s why they are untouchable, and their companies are never held accountable by government regulators. I think it’s cope to think capitalism can be regulated into a system that serves the working class, because if it did then we would see various versions of market socialism where capitalism was effectively regulated towards benefitting the working class almost exclusively, evolving capitalism to its next socioeconomic form. But capitalism actively opposes socioeconomic evolution, because again at the root of it is capital holders with no interest in a more equitable distribution of power within the states they lord over.
"Any business that's premised on low-wage labor is inherently unreliable." How come that's common sense for the workers, but business owners follow that premise to their graves! Oh! I know I know...!
I imagine Mr. Goodman's book draws on more examples than those provided by responses to the COVID-19 pandemic, but Sweden's response, not shutting down its economy, provides an example of how to maintain enterprise during an extreme challenge. Sweden's response to the pandemic kept enterprise running and resulted in the lowest excess death rate globally, though Sweden falls mid-pack among nations for Covid death rates. Given the lack of certainty in attributing cause of death to Covid, the excess death rate performance by Sweden's response to the pandemic seems to recommend a model worth copying, and if widely copied would have sustained supply chains during the pandemic.
13:24 - Just because there are frozen meats somewhere doesn’t mean that (A) they’re physically located where they need to be, or (B) or that there were enough people trained to process it and deliver it. And to your earlier point - You’re right, we didn’t have a shortage BECAUSE OF THE DIRECTIVE TO KEEP THE PEOPLE WORKING. Do you honestly think that the people who got sick didn’t want to work? If they didn’t want to work, then they wouldn’t have shown up to work. If they shut down the plant, then they wouldn’t have been paid. At least they had the option to assess their own risk and decide whether they wanted to work or not. We don’t need a f’ing Nanny State. I’m not convinced that half of you Libs wouldn’t be fooled again. Sounds like you guys want even MORE lockdowns and government mandates for the next pandemic. *“Well, I think that everyone just should have stayed home, watched Netflix and order take-out for a few weeks so we can Stop The Spread”* - Who the hell do you think is making that take-out food and delivering it??
Trucking used to be a good paying job, which was one without years of training. Now it is a job that no one wants because it is not a easy job and does not pay or has criminals running grifts that put drivers in debt. And at that time, 80-90tys, Walmart had the "Made In America" pledge. Sam Walton's “Bring it Home to the USA” initiative, launched in 1985. "Supporting American jobs is part of who we are." That went out the door.
Its not simply "globalization." Globalization is inevitable and always was. It's our particular style of globalized capitalism. When profit os the prime motive society doesn't run well.
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Wait you mean the Greatest Generation, Silents, and Boomers fucked it all up for everyone else forevermore? No fucking kidding.
Bro wrote a Whole-ass Book, but can't figure out, or read some-where that all you need is a lil bit of Isopropyl Alcohol, for "hand sanitizer"... Lord help some of these people who can't figure out how to Live without being Told.
You could also say our current system of capitalism is what's profit over people. This is why corporations need to be strictly regulated. Massive bonds for CEOs executives and shareholders involved in any stock BuyBacks
"They got us fighting a culture war so we don't fight a class war"
And it’ll never end cuz people have more culture than they have money. culture feels more compelling when it’s basically all you have.
It feels worse to lose something than to gain something. It’s a catch 22 for the masses. It would take russian revolution level issues to get people interested in fighting for their economic conditions (an ultimatum between dyeing and revolting).
STUPID is as STUPID does... 💯💯😄😄😄
@@Syzygy_Blissit takes 9 missing meals for a revolution to start.. 💯💯😄😄😄
@@Syzygy_Bliss Sadly I agree.
They invented racism to keep us distracted.
Peter totally surprised to be asked clever, relevant important questions!!! Media in general is so disappointing. Breaking points a breath of fresh air!!!
Krystal you want to know about trucking. Ask a trucker. Just let me know when you want to talk
“Engineered scarcity”
I was interested until I heard that this guy was from the New York times. I just can't take anyone employed there seriously anymore.
Thank you for bringing him on and discussing this subject!
6:00, There is a shortage of truckers. No one wants to drive anymore.
Zero conversation about regulatory bodies and USDA approval requirements? This is a narrative story without scrutinizing what allows slaughter houses a “monopoly”. If your neighbor has an animal raised for meat, can you legally buy cuts? If they have 15 heads of cattle can you buy a single steak, the answer legally is no. You have to buy large quantities. Modern regulations force monopolies. All roads lead back to government interference.
Speaking as a CPA, blame inflation mainly on massive goverment spending (using our taxpayer money) and the Federal Reserve's monetary policies based on MMT ideology (including interest rates being set way too low for way too long).
Inflation is a hidden tax and literal theft by government through intentional devaluation of the currency and as a result, citizens' purchasing power.
Therefore, the Federal Reserve's inflation target should be 0%, not 2%+ CPI. Anything more than 0% is theft by the government from the people. Not to mention, "2% CPI" is really 5%+ true inflation if you use an independent measure of inflation like Truflation or ShadowStats rather than the government's artificial CPI. The government's CPI metric is intentionally designed to leave out certain baskets of goods and services that Americans spend their money on, and disgraceful "hedonic quality adjustments" because it benefits government to underreport true inflation (to lower the real costs of paying huge government debt, and to limit increases to government payouts like social security).
Thank you!
This is literally just bs talking points. The idea that a healthy rate of inflation is 0% is not held by any economist. And the fact that the fed should “bring pain until inflation is at 0% would bring far more harm to normal Americans and the economy than any government spending. And it’s been proven that most of the inflation was corporate price gouging. Wow it’s almost like everything you said was wrong!
Nope. A lot of what you said had been disproven and hardly any of it is backed by legitimate economists
@@SurefireMa156 Feel free to refute my specific points, but you have nothing other than general reliance on some "economists" who led us to this mess in the first place. Keep in mind the current administration's top economist (Bernstein) has ZERO economics experience or even education
@@SurefireMa156 Then lets see you put an argument on the table that refutes his point bud. This whole nope thing makes you look like a shallow thinker.
Saagar back in the day...."not enough shipping containers...all made in China...need to make shipping containers in USA..."
I like how he talks about how "we" are not "trained" to see Monopoly power in the world. Lol, but once you are trained, you can help but see it. Blows me away, everyone is asleep at the wheel...
Maybe with the drop of commercial real estate, storage prices can drop to where JIT can be hedged with some inventory
Who tf was tweaking while creating the title 😂
This, is, your, brain, on, meth?
Global factors definitely caused many troubles for the world and average Am’s, but the “specktacular” character, audacity, vision and results for average Am’s our gov officials consistently achieved throughout was truly remarkable!!! “Wow” 🙄
Krystal Ball looks like "the Hulk"...
Nationalize the trucking industry. Rail roads. Airlines. Shipping.
This will better deter smuggling
Great interview. I'd love to see more coverage of long term trends.
Think you might wanna remove the comma after globalisation
It would not have been this bad without the forced use of the petro-dollar and the resulting artificial US dollar demand.
Literally was just thinking to myself: I wonder if global currency is a bad thing? 🤔
Then I saw this title and clicked immediately. I already watch your show, so it's not a huge surprise it was on top, but still. It was quite the coincidence.
PREACH!!!
❤
I love this guy, so clear, common sense and defined. I can't find a single disparity.
Every country printed large sums of money and distributed it to the population.
Hey man it's free market economy create new framework that works better than current systems and surely you too will be rewarded
The great mystery of globalization (in my opinion) is how it works financially to send raw materials, components and finished product all over the globe multiple times, and somehow that gives consumers low prices. Shipping, rail and trucking is not that cheap.
Neither is labor in the economies that buy a lot of those products.
What a great interview ❤
we dont think it had to do primarily with shutting down the world and giving people money at the same time?
But wait..i thought this was just a kunspuricyyy thurryy
So in other words, we’re cooked.
I can see the thumbnail you guys used for this clip and probably others were generated by AI.
FYI There are no ethically trained and deployed generative image platforms out there at this date, the data sets are all compromised, even Adobe's.
Most of the datasets were scrapped from the web and utilized without the consent of the creative works included or IP holders, under questionable deployments of nonprofit arms of companies and bad faith use of fair use laws, to generate platforms then deployed by for profit arms as paid services.
For Firefly much of the Adobe stock it's trained on was uploaded pre AI so it's a stretch to think those creatives had their work being used to train bots to replace them in mind when they uploaded. It stretches the notion of consent and then they're the other recent issues that have come up with them.
All to say these are for profit image generating machines built using unlicensed and stolen labour from the people they're going to compete with. They are being used often to displace creative human labour by corporations who just care about how much money they're making and not whether or not you can pay your bills. By using and paying to use them, you're encouraging this unethical conduct and helping to bankroll their court causes against the suits they are facing in court.
As a working artist, I would appreciate it if you showed solidarity, resisted the temptation, and didn’t use them at all, please. I call on you to boycott generative AI until such time as it can be used ethically, in solidarity with creative workers.
In the meantime I'm sure you could get an actual human artist to draw this stuff for you and a lot of them need the work badly right now.
You can definitely tell this was Krystal's guest lol
Every guest is Krystal’s guest.
Lol ya and he was super informative. How terrible
@@FKA_Skull Except Candace Owens the other day lol
Ai thumbnail 👎👎
This is why the universe must kick in sometimes. We will keep doing stuff to we kill eachother and everything else. Without even thinking about it. I talk alot of trash. But i really am very decent. And sentient. Trash talk is fun. Till im punched of course lol.
Wage labor is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The employer-employee relationship is a very insidious dynamic. Employment is a rental contract, like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
Spot on. 🫵🙏🙌
It's psychopaths. Keep it simple dude. Taxes and rent? Same thing. Minimum wage? Wrong argument. You could raise it to $25/hr but that won't mean anything if your landlord doubles your rent (or decides to collect on service fees). Entitlements are synonymous with rights. Privatization under a fiat currency system circumvents the Constitution. Institutions have no checks and balances, their own set of rights, and what you get is only the privileges they see fit. It is complete inversion of what this was intended to be.
So you'd rather that your labor (i.e. yourself) be collectively owned rather than self-owned? How is that better?
@@kevinpowers2959Communist are never self aware enough to know how poorly they understand the world.
@@kevinpowers2959 Technical, labor power is bought and owned by the boss. Your rent yourself to a boss where you DONT have a say in management, that is very different from renting your self to a worker co-op where you DO have a say and you get a share of profits. Less alienation from management and more profit sharing, that's what I want, but sure, cutr strawman that doesn't solve anything.
stock buybacks take money out of the real economy and put it in the pockets of the investor class
Dudes complaining about opening up too soon during the covid pandemic. Cant take him serious
Yeah he claims he was totally fine not being able to be present in the hospital after his child's birth but the thing that frustrated him was not being able to find hand sanitizer in the stores lol.
I agree capitalism is NOT the problem but another version of capitalism which is named shareholder capitalism is a HUGE part of the problem. Profits over any kind of ethics is outrageous. That’s my opinion
Imagine watching the greed we all witnessed during the pandemic and still insisting capitalism was not the problem.
@@marywalters1181I’m a capitalist but what we have had and have now is not capitalism. It’s mostly monopolies, collusion and price fixing. We should all know the difference really really well. 😊
Monopolies, Collusion and price fixing is the economic systems we currently have that’s not true capitalism.
Monopolies, Collusion and price fixing is the economic systems we currently have that’s not true capitalism.
@@marywalters1181 "Capitalism is when the government shuts down the economy"
So it goes capitalism to regulation to over regulation to utilities.
Too many humans on the planet and a fascist economy. What could go wrong?
Only a fascist thinks the earth is overpopulated.
I am your sister from Yemen, and by Allah I only spoke out of hunger and distress. My mother, my brothers, and I lessons and tears. We are in a situation that only God knows about. God is sufficient for us, and He is the best disposer of affairs for those who brought us to this situation. By Allah Almighty, I did not write this appeal out of distress and distress. Poverty, O world, they have felt it So, I hope for you. By Allah Almighty, Lord of the Great Throne, he ate what I had in the house. By Allah, my brothers, he is my brothers by sitting in the house. Who has no food? By God, we are in a very difficult situation. We have 4 people entering the house, and my father has died, and there is no one who can depend on us and who lives in it.We live in a rented house because we cannot pay the rent we owe. '''''''''''''''''''''''''''''''''''''''''' ''''''''''''''''''''''''''''''''''''''''''''''''' ''''''''''''''''''''''''''''''''''''''''''''''''' ''''''''''''' My brother, my first words are: I swear to God that I will not lie to you or deceive you. I am a Yemeni girl displaced from the war. My family and I live in a rented house in Al-Shahrab 20,000 Yemenis among us, and now we owe 60,000 for 3 months. The owner of the house is one of the people who does not have mercy, by God, my brother. He comes every day, insulting us, talking about us, and moving from the house to the street because we were unable to pay him the rent. The neighbors saw us crying and came back.They came back to talk to the neighbors and we were given the weekend. So we made him swear by God. He will take us out into the street. Have mercy on him and us. Our country is due to this war and we do not find food for our day, and my brothers and I live in a difficult life. Our father died, may God have mercy on him, and we have no one in this world who was with us in these harsh circumstances. My younger brothers went out into the street and saw...The neighbors eat and stand at their door in order to give them bread even if they break it. By God, to whom belongs the dominion of the heavens and the earth, they closed the door and expelled them and came back crying. They are dying of hunger. No one has mercy on them and a holiday is returned. I have made a living, and now if one of us helps us with a kilo of flour, I swear to God, I am dying of hunger. My brother, I am an alien to God. Then, I ask you to help me for the sake of God. I ask you, by God, to love goodness and to help me, even if you can, by messaging me on WhatsApp.On this number 00967736246190 and ask for the name of my card and send it and do not be late and may God reward you with all the best, my brothers Sagar, see how they are and help us and save us before they throw us out in the street, you will be lost or we will die of hunger. My family and I ask you, by God, if you are able to help us, do not be late and may God reward you well..`/--~«««~-♡~♡~♡~~•~•~♡~♡~♡~♡~♡~♡♡♡~~~:-◖-',`-',`-',`-',`-',`-',`-',`-',`-',`-',`-',`˹˛˹˛˹˛˹˛˹˛˹˛˹˛˹˛▪︎;,‘:.`|;,‘:.`|;,‘:.`|;,‘:.`|;,‘:.~:~¡~¡¡~;I.i.i.i.i.i.i.I.|-◖:`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`,.’`\&-•}&-•}&-•}&-😢🎉😢😢😢😢%%&&&\|√|_√|-√_√|_√_√|√|√|_\|√\|√|°\°||\°\√|√|`•_`•~^•~|π^|~^~•~^• ،.،
nice ai barf thumbnail tho
Cutting down your choices forcing you to buy from specific companies owned by specific oligarchs also making it impossible for competitors to catch up. And once you’re the only choice you no longer have to care about quality control or the satisfaction of the customer. And letting foreign people buy American real estate at inflated numbers with foreign laundered money has made the average price of a home a million dollars when our grandparents didn’t pay 30k for the same house. Things really need to change. It’s not the people who need new laws and hoops to jump. it’s our government who needs new laws to keep them in check.
No one can compete with JBS Foods because they only have a 1.85% Profit Margin, Uncle Sam takes around 30% yet no one on the Left is complaining
JBS Foods has a 1.85% profit margin would you compete against that ❓ Uncle Sam takes around 30 percent yet no one on your side accuses him of price gouging.
The word you're looking for mi amigo is "Neo-Feudalism". But guess what, they already won the game and control everything. Nothing short of revolution or violence will change the system. But also guess what... Americans are some of the most apathetic and ignorant people on the planet so that will never happen.
Sounds like Aerospace
@@johndellorusso9936 It's the GOVERNMENT, stupid. Obama's ACA and CCSS destroyed Retail and Education. Biden's Lockdown and Slüsh Funds went straight to Pharma and Wall Street Big Banks. Millennials are being depopulated under Democrats. 500,000 a year by opioids alone. They are after your Boomer Inheritance. And they'll get it by marching you off to EU.
They maximized for cost savings instead of resilience. The supply chain shattered like glass the moment the lock downs and disruptions hit.
They maximized for PROFIT (costs have never been higher). Resiliency, consistency, quality, cost to customer, safety, none of that is being prioritized
“Fiduciary duty “ of companies should be codified to do no harm to the nation you do business in BEFORE the duty to maximize profits.
why not world?
Only to "the nation" (aka US)? So you're still fine with imperialism as long as it doesn't affect you?
@@07Flash11MRC global companies have no loyalty to the country and will break the law if the only penalty is a fine. Imperialism is a separate issue.
The reason these companies don't stock up for supply shocks or other economic disturbances is because they know that daddy taxpayer is always willing to bail them out. We need to let these over-extended businesses fail so that smarter people run them.
Not the taxpayers. It's our "representation". The only shocking thing is that people keep voting for them. It will be a disgrace for centuries that we've allowed this to take place
We need people with integrity to run things not just “smart” people. Are these people running it now really all that dumb when they know they will get bailed out when they don’t prioritize society or the customer? They’re being incentivized in this economic climate to act in this way
I agree with this in broad principle, but the countries we trade with ARE willing to subsidize their businesses. If we have a free trade policy, domestic businesses could fail and only foreign businesses would step in. A policy like this would require some level of protectionism so that the domestic market would be protected from nationalized businesses in other countries.
Except with ZERO regulations these same companies will always outsource/offshore and strip assets if they're public corporations.
Peter Goodman missed a key component of Toyota's supply chain just in time innovation, that almost every other company misses. Keep in stock a supply of hard to source parts so that manufacture can continue if there becomes supply chain issues. Yet that costs a bit more money than doing it wrong and keeping no extra parts on hand with just a "little" extra risk.
Their strategy used to be the norm.
Most companies had a warehouse and kept a number of parts to continue production.
I was working when the just in time managerial shift and anti-monopoly laws were ignored.
It’s all a legacy of neoliberalism and the capture of political power by capital.
Why didn’t people see it?
Because the MSM is owned by billionaires and their editorial bias ensures their interests come first.
Toyota's lost market share.
You’re 100% right. But obviously he didn’t talk to anyone in supply chain and learn about long leads times for a random of the shelf parts.
@@kevinwilkins7851still profitable. Companies are used to not only now lowering profit margins or breaking even, they want EVER INCREASING margins.
@Toms7114 you're absolutely right, just in time is poorly implemented by just about anybody other than Toyota and Walmart due to issues with company culture and understanding the point behind the methodologies AKA a proper economic order qty formula takes these critical supply events into account but they hear "hold no inventory" and follow blindly
Same thing for lean six sigma almost no one other than them really "gets it" bc of bonehead American management
For those wondering I am a Supply Chain & Operations Professional who has literally worked on these issues at this scale
If you think things will get better when the Boomers are gone, you're dreaming. Blame the wealthy. Not the elderly.
You're missing something important:
Boomers are the reason we can't change things. We are living under their status quo. And they like it this way.
@@anthonytwohill9726 You're generalizing. And you're ignoring that this is the wealthy's world.
typical collectivist generalizations are boring, can you add something new to the conversation?
@@justanotheroldguy738 So when one particular group holds more wealth than the rest combined, that would make them the "wealthy". Thus the elderly is at fault... Still wanna play the blame game or are u ready to start fixing something for once?
Dont blame the wealthy. Blame the politicians that protect the wealthy. Without government bailouts, protections, and programs, monopolies would be rare and short lived.
The nature of corporations is to make profit for shareholders. Biggest problem imo is voters who focus on culture war issues and know nothing about issues like this
Careful. You may get accused of being one of those terrible, terrible class reductionists.
That’s the purpose of creating “white supremacy”. Keep the people at the bottom fighting against or seperate from those they actually should be in solidarity against the large capital owners and money based aristocracy.
Culture wars, yes. But also the problem is the government mandating that corporations must, in essence, focus on the shareholder (aka make profit/money) while totally neglecting the workers, the supply chain, and all the systems that depend on the company to actually run is just insane. This insatiable appetite we have for profit and utilizing the metric of "Growth" as success is just unhealthy, unrealistic, and brutally harmful to the average person and humanity at large. Thus you have, unfortunately, B*eing having airplanes falling out of the sky k*lling people all in the name of profit. Again, insane!!
You do know voters require politicians who will actually act on these things, don't you? Blaming the voter is never correct. While you're over there blaming the citizens, there are politicians out there distracting people from the real issues. Put the blame where it needs to be.
It still wouldn't help them understand that Wallstreet itself is now nothing but "Activist investing", holding EVERYONE hostage to either post up double digit Margins or get triple-digit 'Shorted' like Gamestop
I worked in the auto industry and directly managed JIT inventory as well as vendor managed inventory. Logistics and Supply Chain Management students were essentially brainwashed to believe that JIT inventory was some amazing revolutionary process. All it seemed to me was the bigger business smashing their inefficiencies onto their Tier 1 suppliers, the Tier 1 smashing the Tier 2 and so on. If you're late on delivery? F you, pay me! If the shipping container of your parts fell off the ship into the ocean? F you pay me!
It was just an easy way for the F 500 companies to pad their bottom line.
Monopolies and big government suffering from over-simplified models
You mean benefiting from that?
Strangely enough , there were very lockdowns in developing countries like Bangladesh because the elites did not want their companies closed down . So there was no shortage of goods , shops were filled up . Poor and active people did not get Covid , only the elderly , over weight , coming from the upper and rich class got Covid . Many people did loss their jobs , but the numbers were not very large . Also another strange thing , number of Covid cases remained low despite most people not keeping distance or staying at homes
The only actual shortage we have in America is a shortage of pay.✌️
Agree somewhat. But how many flat screens does regular poor family have? Cable bill? Massive Cell phone bill?
American dream changed I guess
@@destroytheboxes No one can afford to have kids, which is more expensive than everything you just mentioned.
Cut that boomer crap out.
Never forget when BP said this was all temporary, 3 summers ago.
100%
The rate of inflation yes. And it did slow. Inflation from supply shortages is essier to predict. But price gouging inflation is harder to predict bc it depends on if oil producers, big business near monopolies/cartels etc want to price gouge (how many companies own almost all the food?).
Prices also don't usually come back once they go up.
And they blamed Trump.
No one expected joe Biden to prosecute a war that further destabilizing the fragile world economy.
@@litedawg Nah, they blamed inflation on the pandemic (and corporate price gouging), not Trump.
This is what class warfare looks like. We live in a corrupt oligarchy. We need ranked-choice voting, ballot access, and more parties.
And you think changes on political structures will change anything? Is this systsm immune to oligarchs' corruption?
@@phoenix5054 Zero guarantees. But I'd try this first any day over the darker alternatives.
@@carycunningham9510 The thing is you need to convince both incumbents from GOP and Dems to make this happen, and the 3rd biggest party in the US is the Libertarian Party, which is the most pro-oligarch party there is. So much political push needed to be done for so little return.
We aren't voting our way out of this. We need to drastically reduce the size of government
@@adamdrouin2295 Welp, snap your fingers and make it happen! You'll have to get through multiple three-letter agencies (FBI, CIA, DHS, etc) and millions of police, military, and private military contractors but hey, show us how it's done. Our corrupt politicians in the Purple Party only want to shrink government for the people (e.g. food stamps), but not government for corporations or the security state. But hey, you do you!
A good representative of this is gas prices. The US is literally producing the most oil ever, yet prices of the global commodity is still high. Private industry has no incentive to sell it locally if there is a higher bidder offshore
Opec cut production in retaliation to Biden’s ill conceived war on fossil fuels to placate the global warming theologians. That raised costs around the world, it’s what happens when a potato is elected President and lets children in his administration make policy.
yes and no we have to deal with OPEC and mismatched crude refineries with heavy oil spec with light oil domestic production
😂
With prices high, why are we not seeing increased domestic production? There's only one answer.
@@qwerty6574 we are seeing increased domestic production, Look it up.
@@qwerty6574Yes exactly. Obama destroyed Retail with ACA, then Biden's Lockdown stuck a fork in it. *Supply Destruction R USA.*
We are all pissed at the democrats for their shenanigans during the coronavirus lab leak BS😂
Krystal still loves goverment and thinks they can "fix" everything.
Hey Krystal weren't you doubling down that inflation was TRANSITORY " not long ago?? Glad i dont take anything you say on inflation seriously 😂😂😂😂
I'm not sure I understand what this guy is saying. I hear him complaining but he isn't giving any real solutions other than more regulations and more government funded programs. Complete idiocy when your government is a debt hog and in debt 34.7 trillion. My best advice is buy from local farmers and anytime the government says I'm here to help you, run the other way.
Australia has a Gas shortage and are the biggest exporter of gas (making the least money on extraction too). So it doesn't even need to be a secret for people to accept shortages in the face of surplus to export.
Not to mention that Australia pays more for gas then it does from exporting it and is finding out that countries it exports to are on selling the gas as a competitor (including back to Australia)
That is batshit crazy!
A lot of that is due to geographical factors. The distances between areas where gas is currently being drilled to where the domestic consumers are would be considered an "international distance" in most parts of the world.
As for the part about the price being received from exports - that was due to contracts signed when the gas price was low. Annoying, but it's not like anyone knew that covid, etc was coming 10 years ago when the contracts were signed.
If they allowed more new drilling, it could resolve some of these issues.
@@evanburrows1697
That don't cut the mustard.
It's not a geographical problem that Australia gives its gas away when every other Government that exports gas, makes money off it, hand over fist.
If Australia had proper royalties in place they could afford to fix the issue without new gas projects.
This guy is not totally correct when it comes to the beef industry and trucking industry during COVID.
That's okay. Isn't totally correct when it comes to JiT either. Most JiT I've dealt with is financial ownership in practice. The parts are still in the area, just in a different warehouse. (Though many times they are even in the same warehouse.) Also just having "stuff" doesn't fix the supply chain. You need the right stuff. And you also need lift/sailings. When one of the busiest airports in the world for cargo and the primary link to the world's manufacturing floor (Hong Kong) goes to almost no commercial flights you are going to have problems moving goods. No one is keeping expensive cargo aircraft around "just in case" commercial lift vanishes. There were also other cascading affects that contributed, but "Just in Time" was only an arguably small part of the issue.
Why are there so many grammatically incorrect, unneeded commas in the title? 😂
Because of problems, with school, and how they teach, to kids, nowadays
Great interview on an important and interesting topic
NYT writer. /sigh
The title has one too many commas: the very first one should go. How globalization spike prices, caused shortages, etc etc
lol First thing I noticed
Lmao BP is lazy af
Try reading it again. You are incorrect.
And you need a colon after The title has one too many commas.
Superficialities take away from the things in life which should take priority.
Came here to fix your headline. Globalization is the subject. Spiked is the verb. No comma between them. Thanks.
Wait... Aren't monopolies illegal? Sooo, what are "we" doing about it? Oh, that's right, banks got pissed, so "we" chose Apple. 🙄
You know what also cause shortages and prices spikes? The covid lockdowns which Krystal supported.
Sure, global trade has its downsides, but I hope that the ''First World'' realizes that it owes its comfort to cheap products and labor from the ''Third World''. Bringing the jobs back home is going to result in a huge drop of living standard for most people.
Government can print unlimited money and it doesn’t have a negative effect on inflation. Got it.
Left thought process amazes me.
Suits gamifying metrics for market manipulation seems to be a common theme across the board.
And you wonder why nationalism is taking hold and taking over.
Not having to depend on your enemies is always a good strategy.
It's not that hard to understand. Lock people in their homes and not go to work and you will start a shortage very quickly. Companies that don't embrace "just-in-time" stocking levels have already gone out of business due to lack of competitiveness. Companies will always seek competitive advantage. It's either that or get eaten.
Whoa whoa whoa, Krystal, you mean we were lied to during the pandemic? Would you care to delve into all the lies during the pandemic or are certain ones still off limits?
Just rambling …
LOLOLOL The ai thumbnail
whats with the AI thumbnail
Monopolies, Collusion and price fixing is the economic systems we currently have and that’s not true capitalism. True capitalism is a FREE MARKET of which we have not had for a very long time in many, many respects. My point is that true capitalism which I really believe in need to have regulation and guardrails to be effective and thrive. We must try to find consensus with and for our way of life and then stand up for ourselves with ourselves.
To be fair, true capitalism would mean no SS, no Medicare, no unions, no insurance, etc. Everyone would save up the money they earned to pay for all of these things.
@@DistrustHumanzI don’t particular agree with that but okey . True capitalism really means “Free Market Competition” this is the primary basis of capitalism and we don’t currently have that please refer to my first post which outlines this. Furthermore the people pay into SS, Medicare etc into a collective government systems which is also needed to have true capitalism as centralization in some capacity allows us to regulate monopolies, police, military etc. so capitalism is more focused on the private sector but also need the public sectors for regulation long story made very short.
@@DistrustHumanzBut also to be fair I don’t completely disagree with you. However considering the balance of societies wealth is so lopsided this social systems play a vital role in civil stability we can agree on that I’m sure. Furthermore, if monopolies weren’t allowed to thrive and we were closer to a true capitalistic society then these social system could theoretically contract somewhat so I agree. Lastly some of capitalism is only theory and ideal with no real proper application. Let’s not also forget these so called pro free market companies also use taxpayer funding and that’s a whole other can of worms.
@@JW-dc8hkcapitalism is just power distributed by capital. It will always result in capital forming governments to protect the interests of capital holders. Which creates corruption at behest of the capital holders, monopolization in the interest of the primary capital holders, assassinations of perceived threats to the capital holders, exploitation of those lacking capital, and so on. There is no incentive to self-regulate capitalism, because at its roots it serves the interests of the majority holders of capital, who live beyond your reach and have absolutely no concern for your prosperity because they just ultimately want your power (capital) too. Then when the vehicle for their generation of capital and its security (a state) crashes and burns, they can and do just move their capital into other markets to subvert and overtake their vehicle for the generation of capital (the state). Regulate away… laws mean nothing without the mechanisms to enforce them, and the oligarchs understand that, and it’s why they are untouchable, and their companies are never held accountable by government regulators.
I think it’s cope to think capitalism can be regulated into a system that serves the working class, because if it did then we would see various versions of market socialism where capitalism was effectively regulated towards benefitting the working class almost exclusively, evolving capitalism to its next socioeconomic form. But capitalism actively opposes socioeconomic evolution, because again at the root of it is capital holders with no interest in a more equitable distribution of power within the states they lord over.
❤❤
Almost like there are problems with "just-in-time" economics
Dang… I too had a child in April 2020. I thought I was an old dad until I watched this 😅. Thank u sir
Excellent interview! I may order this book!
"NYT author"
Thanks for the intro, I'll save myself some time and not watch!
"Any business that's premised on low-wage labor is inherently unreliable." How come that's common sense for the workers, but business owners follow that premise to their graves! Oh! I know I know...!
All these words and talking without mentioning the MASSIVE economic impact of the lockdown themselves.
I imagine Mr. Goodman's book draws on more examples than those provided by responses to the COVID-19 pandemic, but Sweden's response, not shutting down its economy, provides an example of how to maintain enterprise during an extreme challenge. Sweden's response to the pandemic kept enterprise running and resulted in the lowest excess death rate globally, though Sweden falls mid-pack among nations for Covid death rates. Given the lack of certainty in attributing cause of death to Covid, the excess death rate performance by Sweden's response to the pandemic seems to recommend a model worth copying, and if widely copied would have sustained supply chains during the pandemic.
Cool outfit Krystal, I've been wondering what the stay puff marshmallow man was doing since Ghostbusters.
We’ve been waiting on 3 Dodge body parts since January 😢
13:24 - Just because there are frozen meats somewhere doesn’t mean that (A) they’re physically located where they need to be, or (B) or that there were enough people trained to process it and deliver it.
And to your earlier point - You’re right, we didn’t have a shortage BECAUSE OF THE DIRECTIVE TO KEEP THE PEOPLE WORKING. Do you honestly think that the people who got sick didn’t want to work? If they didn’t want to work, then they wouldn’t have shown up to work. If they shut down the plant, then they wouldn’t have been paid. At least they had the option to assess their own risk and decide whether they wanted to work or not. We don’t need a f’ing Nanny State.
I’m not convinced that half of you Libs wouldn’t be fooled again. Sounds like you guys want even MORE lockdowns and government mandates for the next pandemic.
*“Well, I think that everyone just should have stayed home, watched Netflix and order take-out for a few weeks so we can Stop The Spread”* - Who the hell do you think is making that take-out food and delivering it??
You guys are killing it. A day of how boomers ruined everything 😁
Trucking used to be a good paying job, which was one without years of training. Now it is a job that no one wants because it is not a easy job and does not pay or has criminals running grifts that put drivers in debt. And at that time, 80-90tys, Walmart had the "Made In America" pledge. Sam Walton's “Bring it Home to the USA” initiative, launched in 1985. "Supporting American jobs is part of who we are." That went out the door.
My friend drives. Says loads have been slow. So idk about trucker shortage. I think it may be both. Supply shortage and trucker shortage.
Great show plenty of great questions. Free Palestine now.
It didn't screw everyone. And there are some individuals and corporations doing quite well off of everybody's misery.
Its not simply "globalization." Globalization is inevitable and always was. It's our particular style of globalized capitalism. When profit os the prime motive society doesn't run well.
Wait you mean the Greatest Generation, Silents, and Boomers fucked it all up for everyone else forevermore? No fucking kidding.
Why is Krystal dressed like she’s in the cult from Midsommar
Bro wrote a Whole-ass Book, but can't figure out, or read some-where that all you need is a lil bit of Isopropyl Alcohol, for "hand sanitizer"... Lord help some of these people who can't figure out how to Live without being Told.
Just in time.mfg. tries to defy Murphys law. Those who fail to understand it are clearly in charge these days!
You could also say our current system of capitalism is what's profit over people. This is why corporations need to be strictly regulated. Massive bonds for CEOs executives and shareholders involved in any stock BuyBacks