How Lebanon Became a Failed State
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Lebanon has been in a state of permanent crisis since 2019, seeing its currency collapse, its GDP halved and its political systems in stasis. So in this video, we'll explain how it got to this point and why the country looks unlikely to ever recover.
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1 - tradingeconomics.com/lebanon/...
2 - openknowledge.worldbank.org/s...
3 - en.wikipedia.org/wiki/History...
4 - en.wikipedia.org/wiki/Demogra...
5 - www.britannica.com/place/Lebanon
6 - www.britannica.com/summary/Le...
7 - en.wikipedia.org/wiki/Black_S...
8 - upload.wikimedia.org/wikipedi...
9 - en.wikipedia.org/wiki/Taif_Ag...
10 - datacommons.org/tools/timelin...
11 - www.ft.com/content/c15c88de-f...
12 - www.reuters.com/markets/rates...
13 - openknowledge.worldbank.org/e...
14 - en.wikipedia.org/wiki/Economy...
15 - www.economist.com/middle-east...
16 - today.lorientlejour.com/artic...
17 - www.foodsecurityportal.org/no...
18 - tradingeconomics.com/lebanon/...
19 - neighbourhood-enlargement.ec....
00:00 Introduction
01:05 Pre-1990
03:47 1990-2019
05:51 2019-Now
07:53 Skillshare
![[FULL EP.13] เซียนหรั่ง พา ไททศมิตร ลงเรือฝึกสกิลหว่านแห | เฮ็ดอย่างเซียนหรั่ง | One Playground](http://i.ytimg.com/vi/EWFuf2Av0K0/mqdefault.jpg)
Some commenters have pointed out that the Spanish Civil War started in 1936, not (as we suggest in this video) 1931. This is true, but we used the 1931 figure because that's when the World Bank considers the beginning of Spain's economic crisis and when Spain's per capita GDP first started declining (with the decline accelerating during the civil war in 1936-39). For context, from 1931 to 1940, Spain's per capita GDP declined by 35%, and didn't return to 1931 levels until the mid-60s.
Source: openknowledge.worldbank.org/server/api/core/bitstreams/d4c22ec3-de98-5d7f-bb6c-988964e1cea9/content
Hope that clears things up and that you nonetheless enjoyed the video!
Yeah, well, that's when the Great recession hit, the worse part was after 1936
3 other small mistakes: between 1948 and 1967, judea and sameria were controlled by jordan and gaza by egypt,
the PLO didn't cross borders, only moved to the transjordan
and the 1967 war was not israeli-palestinian (as there was no palestine to fight) rather israel vs egypt, syria, jordan,iraq, saudi arabia and lebanon
@@davidgoldrock7264 it's called the West Bank. That's the internationally recognised name. Your 'Judea and Samaria' is the name given to it by religious extremists.
But I'm sure you will respond with some racist spiel about how the land is actually Jewish, i.e. your position is that the Palestinians (who are the vast majority of people living there) don't deserve equal rights -- purely on the basis of their ethnicity
@@davidgoldrock7264 funny you have the chutzpah to use the fringe religious extremist name for the territory, and then say that people not using that name are making some kind of factual error
i never said any of this my friend. i am calling the place judea and sameria because that's the name i know for it (the west bank is historically confused, as the entire state of israel is on the west side of the jordan river)
and the arabs living in judea and sameria are under a 3 segment division of milletary and governmental control by the PA and israel, not a part of israel proper (and thank god for that).
don't make assumptions about me my friend :)@@seadkolasinac7220
My dad is from Lebanon, I showed him this video and he said he couldn’t have summed it up any better. Great work with this video guys 👍
As your dad, I can confirm.
It must be a nightmare living with a mentally retarded dad. My condolences. 😢
I'm so sorry that you guys have to deal with this.
@@Luredreier We manage it's okay
I'm sure you realize this, but brother if your father is lebanese you also have lebanese heritage!glad you are learning your history
Almost impressive how they managed to half their Gdp in 5 years. Thats some serious dedication.
It’s 3 years actually
They didn't manage it, it was foreign investors inflating the GDP beforehand and then undoing it by leaving
@@tomlxyzthis is cultural appropriation! We did it ourselves! Even if we used foreigners in the process
I love my country 😬
@@ThatBasedGuyhas anyone else managed to beat this record?
As Lebanese thank you for shining light on our struggles that's been going for the longest i can remember 🇱🇧
Are all these true?Has the economy improved from 2020 levels?
What do lebanese think of the potential clash with israel?
@@SaiKiran-fd3gqthe economy is improving slightly day by day as everything is being priced in USD.
Most of the private sector workers and employees are also getting paid in USD which is kind of stabilizing the situation.
Local currency is used for necessities and cheap everyday products.
Side note : we still don't have public electricity and we rely on privately owned generators to supply us same goes for water supply.
Not to mention the lawlessness widespread across the country, you hardly see a "police" officer on the road and even emergency polices are absent (112/911 hotline)
@@bharatyaswaraj5641we are devided as always, shia muslims are requesting immediate war and praising hezbollah for doind so. While the rest of the sects are against it (even if we support palestine) but we believe it's not our job to intervene in a foreign war and also we can't afford it economically.
In 2006 israel pretty much destroyed all infrastructure and erased half of the capital same as gaza now.
@@eliechedid9652 so are you a christain?
@03:10 "fell out" is a funny way to say they started a war with Jordan because they wanted to overthrow the government/monarchi
It also wasnt "fled" as much as it was "kicked out"
One doesn't overthrow government you get along with
My god what happened to our man at 6:15 ? Total self-wipeout
He is a metaphorical representation of Lebanon. A real piece of art.
@@nbgoodiscore1303 art imitates life
Fell even harder than the country itself.
If the Arab countries gave up Islam, they would be so much better.
According to numero crime index Qatar is The World's Safest country UAE is 2nd Safest and Oman is 5th Safest. If a country adopt Sharia law at modarete level and and Western countries Doesn't intervene then it’s The best. And i am not taking about Afghanistan style Sharia.
@@hasinabegum1038qatar, uae and oman don't have a moderate adoptation of islamic jurisprudence 😂
@@puraLusa UAE and oman are moderate.Qatar is a bit more conservative. they're very very Peaceful.Bahrain is also very moderate and Bahrain is 9th Safest country
@@hasinabegum1038 the equasion that rules the level of safety does not include the kind of penalties one would suffer if one breaks the law for example. Considering safe and being safe to travel isn't the same. It is illegal to be gay (albeit they look the other way for foreigners but can change their minds at any minute) or having sex outside marriage (same as before). That isn't safe in my book albeit being in urs. It doesn't equate also the number of foreign workers harmed by nationals (modern day slavery, mortal working accidents etc) - not safe in my prespective albeit in urs.
I prefer to deal with a low life criminal than with a rich state whose laws I deem criminal.
Not safe at all.
@@puraLusa You will almost never gey killed or rap*d or nobody will Steal something from Your home or cars.If anything bad happened you can get immediate protection from police. Now that is what called safety. And you can be gay in Bahrain and in UAE don’t show too much emotions in public. Nothing will happen to you.
I'm sorry but describing the conflict between PLO and Jordan as a falling out made me genuinely laugh. What a very generous reach.
Explain it for us. Just a lil. 👀
@@Ben942K you can just Google Black September yourself
@Ben942K @the_vlad
What is talked about here is "Black September".
Palestinian militants (split into multiple factions) essentially did some reallllyy dumb shit, for a long time, including fighting with the Jordanian army and shooting at the Jordanian King's convoys multiple times, while openly calling to overthrow the monarchi and take over Jordan. Eventually this led to a war with Jordan, which they of course lost, and were then kicked out.
@@BeCuzMe The more interesting question is why Jordan put up with that for so long.
It's certainly a very generous summary of 'attempted to assassinate the King. Twice.' XD
Poor Lebanon, everything went wrong at the same time.
Yes yes: pandemic, economic failure, super explosion, and now maybe war, only a devastating earthquake remains
Friend is Lebanese who immigrated to Canad. Sadly his elderly parents are stuck there and it is so heartbreaking to hear him speak of his beautiful homeland. And yet so few are aware of what is happening there.
Too busy choosing which religious fanatics are devils rising from hell or oppressed angels coming to restore the holy lands, it’s like the bloody twelfth century all over again.
Lebanon used to be homeland of great civilizations, for example Carthage. But since they adopted the religion of peace, they are no good anymore.
@@Georgesspierreyes, it's important to talk openly about effects of religion on politics and economy and stability of society in general
Me too I'm in canada, it's really hard to work here, study and support my parents, my only free time is like an hour to watch some TH-cam, eat, shower, sleep... God bless my family I'll do everything for them
@@GeorgesspierreYeah Lebanon is 40% Christian and christians always had extra Powers in The government.
This quote by Robert Fisk perfectly describes Lebanon:
“It may have beautiful mountains, fine food, an extraordinarily well-educated population, but it is sectarian. It’s a bit like owning a Rolls Royce complete with fresh leather seats, a flat screen television and a cocktail bar - but with square wheels. It doesn’t work.”
Not necessarily true. Mauritius and Singapore both have multicultural sectarian governments and both are doing fine.
@purplerabbit638 diversity isn't the problem. Sectarian power-sharing is. It's a counterproductive and dysfunctional formula that fosters division, corruption, and political paralysis.
@@mazw9898 i see. Thanks fot clarifying.
@@purplerabbit638These are small city/island states that function as financial hubs, and I can’t speak on Mauritius, but Singapore has some very draconian laws, and while being a rich country, is not a free country.
Lebanon used to have the benefit of being more tied to Europe culturally and financially, but the detriments of living in the “region” has made life very hard for them.
@@purplerabbit638 They are not overwhelmingly muslim. They never had a huge influx of nearby islamic populations which altered their demographics. Secularism only works when muslims are a minority (atleast below 30%). In the 1932 census, the christian + druze + jewish population of lebanon was around 60%, while around 15% was shia and 15% was sunni (i am rounding this +/- 2% for convenience). While in 2020, the demographic breakup is around 30% shia, 30% sunni (total 60% muslims), and the rest accounting for the other 40%. The non muslim population is expected to shrink further down due to comparatively low fertility rate and more immigration rates.
This is a great example that if you feel that economy is slowing down, prepare a plan for a few years of economic downturn, try to come up with ideas on how to revitalise it. DO NOT try to get quick buck to cover the problems, it just snowballs.
I was in Lebanon a few months ago visiting family and exploring the country for the first time in 19 years. It was amazing in so many ways. It’s so sad to see what’s going on there. My only question is what happens next? Where do they go from here? Is it even possible for this nation to recover
Recovery is always possible
It takes time. Maybe they need to default on their loans, create new currency and do neoliberal economic reforms like post-soviet countries did. It will hurt the Lebanese people, but eventually, their economy will start to gain momentum again.
@@Purjo92 It will take anywhere from 30 to 50 years to recover if they go the post-soviet reform way.
@@itsawill9268 not if they start war with Israel.
I was in Lebanon too a few months ago, visiting with a friend, no connection with the country, actually I'm Persian, it was great I wonder how the country was before the crisis...
Seeing videos like these make me glad of my own country for all its flaws, isn’t as bad as others
Thats one reason why our governments pay to produce them.
@@corneliussulla9963are you implying that tldr news is on the take from multiple governments? 🤨
Which country are you from?
I was in Lebanon three months ago. It was HORRIBLE. No electricity, price and currency uncertainty, lawlessness, extreme levels of poverty, Beirut is in a complete state of chaos. All that, and tourism is BOOMING, mostly from gulf-people.
I am from Lebanon, but I moved abroad in 2019 for obvious reasons.
Oh, and that guy at 6:15 really summarized the situation.
Lmao i was about to comment on that guy, i was so focused on the video and he caught me off guard😂😂😂
why do you think the Gulf citizens are choosing to go there on holiday? Especially with all the aforementioned problems?
@@seadkolasinac7220extremely cheep and a pop desperate enough to be used as an amusement park.
There is a bunch of stories of gulf dudes going to egipt, marrying a minor and post pregnancy, divorce and left.
There are bad people in the world, some do go for the culture and food, some don't.
It isn't a gulf exclusive, everyone knows about american, french etc going to asean countries on "vacation" when reality it was sex tourism with a lot of aids spread.
Discussing human beings all around the world.
@@seadkolasinac7220cheap, prostitution
😂😂 Ran that part back like 4 times when I was atching the video.
This might be the best and most riveting video I can recall watching on the TLDR channels. Wonderfully elucidating, sharp, and on-point. Fantastic work.
6:14 man summarizes the video subject in a single move.
Are you just going to leave it at “they fell out with the Jordanian authorities“ ? That would have deserved at least one more sentence of context given why they were expelled.
It was kinda a whole thing as well, I wonder why they don;t want people to know why these 'noble' palestinians wore out their welcome? 🤔
Wasn't this about the assassination attempt on King Hussein? I can imagine an economy-related channel to leave this detail out. It would derail from the big picture, the economic downfall of Lebanon.
Far more relevant to the downfall of Lebanon's economy is the the promised non-sectarian government never was implemented.
@@angel_macharielGoogle black September
@the_vlad No, that was about 20 years earlier.
What is talked about here is "Black September".
Palestinian militans (split into multiple factions) essentially did some reallllyy dumb shit, for a long time, while openly calling to overthrow the monarchi and take over Jordan. Eventually this led to a war with Jordan, which they of course lost, and were then kicked out.
They didn't need to go into detail, but "civil war" or "overthrow attempt" would be far more sincere than "fell out", especially as it seems relevant considering they went on to participate in the Lebanese civil war soon after, trying to take control there as well.
@@BeCuzMe Aah, now I start remembering things. I just go by memory. I"m 56. The assassination attempt has nothing to do with the PLO, but the stupidity and subsequent tensions with Jordan I begin to remember now somewhat. Arafat's grand plan, if any, I could never understand at that time in that period.
But one can't deny that this history is a but off-track for this channel.
But yeah, I have vague memories of the later part of that era and a bit is coming back now.
3:11 What a nice way of saying they caused a civil war and were, following it's end, kicked out.
the timestamp is wrong
I remember following these events since October, 2019. You guys explained it very well!
Lebanon: we have corrupt government, high inflation and collapsing economy.
Myanmar: we have a ruthless military dictatorship that let high inflation, mismanagement, economic and social collapses to occur.
Man as a Burmese myself, we never feel so sympathetic to Lebanon like this...
the difference is no one wants to even "touch"(get involved) in Lebanon for fear of economic contagion, whereas Myanmar has fallen under Chinese influence ( they need its infrastructure and to destabilize India ) .
In Europe, we nicknamed Bosnia "Lebanon of the Balkans" because how similar they are. Lebanon's power sharing is based on three religious sects (Shia, Sunni and Maronite); while in Bosnia, the country has three Presidents representing different ethnic groups (Croats, Serbs, Bosniaks). And like Lebanon, Bosnia risks becoming the next failed state.
Bosnia has Republika Srpska and Lebanon has Hezbollah
I was just thinking about the Balkans when they brought up the sect. govt.
There are actually two terms in geopolitics that represent these situations Balaknization and Lebanonization which are closely linked if very different
@@-Faris- Dodik is a christian extremist and Hasan is a shia extremist.
Now thinking about it, Partition of British India may have actually saved India from facing complete collapse like Yugoslavia and Lebanon. 😮
It is repeatedly astonishing ( not surprising but astonishing) how often the historical pattern 'Countries existed mostly along cultural lines' are followed by colonial powers coming in and saying "Let me fix that for you!" as a preamble to explain unstable modern regions 😅
Meanwhile the US the worlds most stable country that caused the worldest greatest peace..."What's a cultural line?" So yeah unless the US is just unique in human society I don't think the mixing a cultures is the main issue.
@@GreenBlueWalkthrough
Let's just a Muslim (or whatever) majority with different values in lifestyle reach about a third of the population and you may see, how the US will start to crumble.
@@GreenBlueWalkthroughUSA did have that civil war thing over whether an entire race should be considered human or property...
US and other settler nations are different things to most other countries. In the first place, they started by wiping out many many native settlers, so it wasn't exactly a "multi-cultural country" from the start. (Yes, a lot of natives died from disease, but not all and there are numerous statements recorded from American officials at the time about how they should wipe out natives and USA fought a lot of wars to take land).
And settler identity in the first place was almost exclusively along the lines of being English/Scottish. Among whites, Germans, Italians, Russians, Jews received discrimination. Even Irish were discriminated against.
This very gradually expanded till "American" stopped meaning "English/Scottish descendants" to "white people". Then it very gradually expanded to include African-Americans (whose struggle is very well-known and is still continuing), Asian-Americans (reminded that there was literally a Congressional Act called "Chinese Exclusion Act" to limit immigration from China, it was passed in 1882 and repealed only in 1965 along the wider Civil Rights Movement) (Asians died in large numbers to build railroads in the American West in the early days).
@@GreenBlueWalkthroughI think your missing the point, the USA never had its broader redrawn by a colonial power, thats why its stable.
@@GreenBlueWalkthroughhow does the US existing have anything to do with colonial powers erasing old ethnic borders and rearrange them to suit their own needs?
spanish civil war was in 1936, not 31. great video tho!
7:50 A crucial piece is information here being that Hezbollah is directly controlled by the Iranian regime, so they simply do whatever they're told to do. In other words: Hezbollah is NOT an independent actor. All the territory that it controls is consequently controlled by Teheran. And all they money that they receive is donated by Teheran.
Sounds a lot like Russia's thinly veiled separatist movements in post soviet countries such as Moldova, Ukraine and Georgia
Guy at 6:15 represents Lebanon's GDP chart
He is the embodiment of Lebanon´s economy
TLDR: islam
Well, religion as a whole to be sure.
@@gosnooky
Nah man. Islam and only islam.
Religion of "peace" 🤡
@@cat108gboThis comment is very reductive. Islam by itself is not a BAD religion, its just that in desperate times (like resecions or wars), religious fanaticism takes hold. For example, the Irish Troubles were fully a war between Catholics and Protestans. Are any one them inheritly bad religions?
@@I_am_somebody_1234abrahamic religions have a tendency to produce totalitarian political parties.
Also, the Gulf countries used to give financial aid to Lebanon to keep it afloat. That stopped around 2018-19, when they got fed up with how Hezbollah had a free rein over Lebanon, that is to say Iranian meddling, and the politicians and army can't do anything about it.
very good objective coverage great news work!
Islam, that’s how
Uh, what?
@@tiglishnobody8750 Islam
Fantastic video
palestinians are not the innocents after all who would have thought
They were kicked out of their homes, I guess you wouldn't be happy if this happened to you
So how is DR Congo today?
@@blueboy3990
I respect people that support Palestine (mostly west bank) because of the occupation there, but it's extremely annoying that people say that the land was owned by Palestine before like the British never existed. Also, the outcome would've been different if the arab league didn't declare war on Israel.
@@HiddenPowerIce Imagine people just coming to your house saying we want half of it because thousands of years ago we used to live there, would you allow them to do it? Obviously they're not gonna allow them to do that, Imagine if native americans tried to take a square inch of land from the us, they'll be obliterated!
@@blueboy3990 هل لبناني تعيش للان بلبنان؟ مسيحي أم مسلم سني أو شيعي؟
wow uploading on a Saturday keep it up guys
Hope things get better in the near future.
Lebanon one of the few Christian majority countries left in the Middle East along with Cyprus, Armenia and Georgia.
But because of continuous Christian emigration to the Americas, Southern Lebanon fell to the Shias while Northern Lebanon received Sunni refugees and fell to the Sunnis. Only Central Lebanon remains Christian majority but it is slowly declining as Muslims have higher birthrates and lower emigration rates to the West.
Cyprus is divided into the Turkish Muslim North and Greek Christian South.
Will happen to Europe as well in a few decades.
@@user-th5ui4ib3yAlready happening in London, Paris and some other European cities
Oh no, Muslim proportion in Europe might reach 5%, then they'll be truly unstoppable
@@MenwithHill25% in 30 years
In Germany there are only 2.7 million people in the 18-35 age cohort and will be replaced
Germany had in 2015-16 a million Syrians alone
Since 1999 Britain had 8 million immigrants from Muslims and births
It will happen faster than you think. Look at Primary school data
@@artman12I always find it weird how western people make complaints but fail to close the borders then look down on middle easterners for doing what they want to do. What is it? I for sure am tired of hearing about it.
One word: religion
6:15 Someone needs to make a gif out of this tumble - I wish I knew how to.
Think how peaceful the world would be if after WW2, empires would have considered demographics
Yeah but you COULD also just draw a nice straight line and then get some early lunch... 🙄
@@DarkHarlequin lol
it genuinely hurts to think about
You mean WW1? Post WW1 was where most colonial borders of today were initially drawn.
Post WW2 is defined by independence struggles and decolonization.
@@chinguunerdenebadrakh7022 yes post ottoman empire
The sectarian division in Lebanon is more complicated than muslim vs Christian. In the beginning indeed it’s Christians vs Sunnis+ leftists while the Shites weren’t really involved actively. And now, the Christians are divided into pro- Iranian ones (Aounists) and anti- Iranian ones, while the Sunnis weirdly side with the anti- Iranian Christians (who were in the begining their arch enemy) because they hate the Shites with their guts.
Also, I am not sure about that but I have heard the Orthodox and Maronites were once divided politically in the beginning, as the Orthodox Christians that time wanted a Greater Syria as Syria had a considerable Orthodox Christian population back theb, most of them are siding with the anti- Iranian Maronites now tho.
Absolutely sick of the bonfire that is the Middle East. Conflicts continuously flaring up and sucking oxygen from the affairs of the wider world.
I assume people felt like that about Europe with they had their “hundred years wars”
What can I say, it's hard for me to see my own country go down like that.
As a Muslim who lives in Saudi Arabia, I am thankful of you guys covering more stuff happening in the Middle East. As I am more familiar with American and European history, than my knowledge of Asian, South American, and African history.
How you live in Saudi Arabia and know more about Europe and USA history than your own
I dunno, I don’t find much vids talking about it aside from global influence.
@@rayzain7686 but like your schooling and family? Surely you learned from them?
@@user-cw8ej4gd3v Im in an American School, I am more familiar with modern history and I know the modern history of the Middle East. Like the British and French involved with the division of territories. The Israeli Arab War, the 6 day war, the gulf wars. The Soviet Afghan war. And not sure if this counts, Napoleons conquest in Egypt. And finally Israel and Palestine conflict in recent years.
@@rayzain7686A brief rundown for the middle ages.
Starts with East and West Rome splitting the Byzantine (East Rome) Controlled Egypt, Levent, Anatolia, and the Southern Balkens.
Islam comes to be united the Arab tribes and then declares war on Persia and Byzantine. They commit genocide and ethnically cleanse areas and decide to allow the Jewish in lands they conquered to move back to their holy land of Palestine. The first Arab caliphates eventually fall apart until they get this one idiot who banned Christian travel into the holy land and aided rebels within East Rome and pushed them out of Anatolia. This resulted in East Rome asking for aid from the Papal States they agree but have no armor so they pay pagan warriors to fight for them. This marks the start of the crusades, from here it’s a bloody back and forth until the Ottomans conquered nearly everything the East Romans used to control.
The Ottomans persecuted their Christian and Jewish populations, committed sins against Islam, converted temples and churches into mosques and then entered into decline.
WW1 happens and then we are in colonial times.
Chaos is inevitable when authoritarian empires fall - in this case the Ottoman empire. We are still seeing the belated fallout from the Soviet Union failing right now - the Soviet Union being a de-facto empire.
Latvia, Estonia, Lithuania and about a third of Commonwealth countries would beg to disagree
Lithuania Estonia & Latvia are receiving cyber attacks from the Russian Federation and are increasing their military spending generally - as are Poland. Is this nothing to do with the conflict in Ukraine?
Although I would agree 'inevitable' is too strong a word@@RFXZ67966
Can we get a similar updated video on Turkey's economy ? 🙏
6:14 Guess that guy won't be competing in any hurdling matches... 😉
6:14 poor dude just CRASHED
short answer: islam. long answer: also islam.
yeah bro i read the quran and it said "set up ponzi schemes and steal all the money".
Funny saying this considering that on average lebanese christians are way wealthier than muslims, you drive to a christian town it looks like heaven but muslim towns look like like total crap.
How??? Sri Lanka went through the exact same cycle during the exact same time. Colonialism followed by civil war followed by economic prosperity followed by economic collapse. And there was no Islamic interest there. The civil war was between the Sinhalese (majority Buddhist) and the Tamils (majority Hindu). And it wasn't even about religion, it started over language. And yet it led to the exact same outcome in the exact same order. Use your (clearly limited) brainpower to keep track of current affairs, instead of spouting half-baked nonsense.
@@blueboy3990The richest Elites in Lebanon are sunni muslim families from Beirut and Tripoli. It just that the christians distribute the wealth better and we are definitely not richer 😂
6:15 I should not be laughing so hard at the dude who tried to leap over the chair and failed, face-planting on the ground 😂
@6:15 I laughed at the guy taking a tumble
As a Lebanese, I want to say that things are getting a little better because now everything is in dollars, even taxes are now in dollar
as a lebanese myself, i must say the past 5 years were really bad in my country, economists were warning that this was going to happen, but the government was so corrupt on all sides, they ignored every warning an kept embezzling state funds and instead of forming a country for every one nepotism was encouraged and bribes were the norm, this country needs an overhaul.
"Lebanon's economic crisis is the third worst in history after Chile and Spain."
Hungary and Zimbabwe: Are we a joke to you?
6:15 oh no poor guy 😂
You forgot to mention that its population almost halved since this crisis, one of the final nails in the coffin.
From the sounds of things even if the Lebanese government wanted to stop Hezbollah from attacking Israel, they couldn’t afford it. Hezbollah don’t take any orders from the Lebanese government anyway.
Exactly. Hezbollah is both a political party in lebanon with parliament seats and a iranian proxy. And they see themselves as untouchables inside lebanon.
That's how bad lebanese politics is.
@@puraLusa they technically are untouchable; at least with regards to southern Lebanon. It’s not like the Lebanese army could declare war on them (at least there’s no guarantee they would win)
@@RedJadeArt yup, that's the spell of failed state territory wise.
A country is a political contruction made by a) it's people, b) an international recognized government (aka state) and intern recogn territory/ borders.
When it's people are devided (lebanon check), their state lost power to administrator (lebanon check) and control it's borders/ territory (lebanon check) than its a failed state/ country.
Very sad in reality.
religion is a gift that keeps giving. that is why we have to shift the world to secularism
90% of all genocides in history in the past 150 years were done by atheists, soviet union, germany, north korea, cambodia, french revolution........all atheist
Yes, because China and the USSR are/were perfectly peaceful countries that never started wars or oppressed people.
People will always find a reason to fight. Look at Somalia, a country that is mostly Muslim and ethnically Somali, it is much more unstable than more diverse African countries.
@@graceneilitz7661 at the moment most killings are done in the name of religion. Dont remember secularism have a law of blasphemy. People are tired of dieing because of your imaginary god
@@graceneilitz7661 this is what i just said, its almost always atheist countries that are the most violent
@@graceneilitz7661this was very funny reading and seeing my country pop up, but we are doing much better. We have extremists, but we are slowly fighting them. Additionally, we are also affected by the colonial lines drawn by the British and the Italians. But I agree it’s not the religion, but rather politics as a whole. When I look at the US, they are merely a couple years away into decending into violence from republican and democrat standpoints.
Hahahah that guy at 6:14
Can anyone elaborate on Chile's 1926 debt crisis? I'm not finding anything on it.
This day in age, I’m surprised how these small countries and population survive.
Love Lebanon from France 🇲🇫❤️🇱🇧
to be clear, Israel DOESN'T want war in Lebanon, we had wars with them twice, and we did occupy the south from the late 80's until 2000.
and so we know that only bloodshed will result from another. we aided the forces Christians (we called them Tzha-Dal) but to no avail.
Israel is home to many displaced Cristian Lebanese who fought in the civil wars, and many in Israelis feel a kinship with them.
I hope that our divided nations, will find the peace and stability we all long for
Israel certainly doesn't seem to care about stability when they deny a people the right to statehood though.
Yeah, of course, Israel, that’s has been expanding its borders for decades after its foundation, doesn’t want war in Lebanon😂
@@bogjesrbin484what borders have been expanded? Can you be more specific in your lies?
@@inoovator3756is this a serious question? What was the result of the last war?
@@HelloEarthling a ceasefire with Hamas that was broken October 7th lol what war are you talking about
I am Lebanese - this is a fantastic summary. I would only underscore the depth of the corruption at all levels of government and the culture of plutocracy that is omnipotent in the state. Doubtful the country will ever recover from this. As Lebanon is basically irrelevant on a geopolitical level, this crisis is sadly severely underreported.
6:16 for a good giggle.
So, to recap, their demise resulted from letting all those Palestinian amd Muslim refugees into their land who "thanked" them by starting a civil war.
That'd be misleading because the ethnic tensions have always been there. The Shiite population in the south of the country had wanted political representation since Lebanon was founded (alongside the Sunni in the north). Then the leadership of a militant group comes along with weapons and a very popular cause (fighting Israel). The real issue with the country is and has always been that it's political institutions are a heap of trash, completely non functional - they haven't been able to respond to any of the crisis facing the country.
@@MenwithHill Okay. Thank you for the elaboration.
I thought Argentina's economy/inflation was bad or worse than Lebanon
One thing we learn digital money bad time crisis all ways diversification assets for own safety and prosperity. All ways have hard assets, 2 passport or more, have strategy use for multiple scenario
Btw what is it about you uploading videos in RAW? 😅
4:15 Seriously its crazy that Syria before the civil war was that rich
Good video
Argentina and this case look similar tbh.
We are competing with Lebanon in term of inflation. 😂
hey there, we are on the same boat (Turkey) :')
Will you vote for señor Milei?
Or they could have quantitative easing via conflict 😢
When I was younger, Lebanon was called the "Pearl of the Middle-East". So sad what is happened.
It happens, unfortunately. :/
LOL poor guy @ 6:15
As a Lebanese, you summed it up really well in such little time. It would be interesting to see your take on the Lebanese civil war, much of the knowledge I have is from extremely biased sources. Just to put things into perspective, our history books don't cover the lebwnese civil war! It's so controversial that we can't even agree on how it should be taught
Make new channel called TLDR History ?
Just for the sake of accuracy, the Spanish Civil War didn't begin in 1931. It was between 1936-39.
1:36
Every time.
Neat
0:36 didnt the Spanish civil war happen in 1936-1939?
Yeah, TLDR often gets date & time wrong. Always keep a healthy amount of scepticism in their reporting, just like any other media.
@SoulDuckling126 yeah, their pace of content means they don't proof-read it much and the quality suffers a lot. They also mix up names and get information straight up wrong, sometimes they comment with a correction but they don't bother editing the video and correct it there.
Basically the same thing LinusTechTips got a lot of fire for just recently.
The video is 90% on point, but you’re wrong on the current economy return, early 2023 people were getting paid in LBP, avg of 60$ in total, and as of October now people are getting paid in USD a minimum of 250$, the country is reforming its economy, but the regional war isn’t helping it at all, thanks for shining the light on Lebanon 🇱🇧
wow
I'm sorry are you actually implying the 1926 Chilean Debt crisis was actually worse than the 1920s Hungarian economy, the 1990s Yugoslavia, the infamous management of the Zimbabwe economy of the 2000s? you mgiht want to check your numbers. Also is Venezuela worse than Zimbabwe yet? In 2017 someone said if things don't improve they'll be worse than Zimbabwe by 2023.
Lebanese come to Saskatchewan, Canada. Life is very affordable in this province unlike in regions around Vancouver and Toronto.
Several years ago, an extremely handsome friend of mine went to Lebanon for a university exchange.
He still cherishes the memories: meeting hundreds of extremely well educated young and not so young people and having meaningful exchanges with them, getting as many lovers as he wished, many of whom introduced him to their family and escorted him around to visit the sights, enjoying the museums and the nightlife.
Lebanon, at that time, had very little to envy Europe for.
4:15 Syria wtf lmao
Another example of the divisiveness of religions
What's peninchula?
1 - Lebanon was quite smaller than it is today, result of the Arab invasion which destroyed the national and cultural identities of the people they invaded and dissolved the historical land of Canaan into Syria which, by the way, isn't Arab either.
2 - Lebanon was expanded because the Maronites wanted as much of their historical land as possible. Of course, it's not as simple and there are many other factors involved, but this is one of the main reasons.
3 - The famine that wiped out half of its population was orchestrated by the ever-friendly Ottomans (maybe to wipe out those pesky Christians? nah...), who later on committed one of the worst genocides in modern history, the Armenian genocide.
4 - Lower birthrates... Hello Europe :)
5 - Feuding between Christians and Muslims, mainly because Muslims prioritize their religious identity over their national identity, which often put the country as a whole in the line of fire, and forcibly engaged into wars it has nothing to do with and could've been easily avoided.
6 - The PLO essentially decided to take over Lebanon as an alternate state to the lands they lost, due to their own shortsightedness and stupidity. This is what you get for being neighborly, and harboring all those who were displaced after Israel was created. The PLO were and still are a bunch of corrupt thugs who did more damage to the Palestinians and their righteous cause than Israel ever did.
7 - The PLO "fell out" with the Jordanian authorities? Please.. They were kicked out by force, because: Thugs. Lebanon couldn't do the same because: see #5.
8 - Syria wanted to help the Christian Maronite Government... Oh Please. In Politics, what is announced is often the opposite of what is intended. Syria saw the Lebanese civil war as a golden opportunity to annex Lebanon, which, thanks to their not-so-brainwashed-by-Arabs mentality and warped history, was a part of Syria. History has a lot of jokes, this is one of its funniest.
9 - The Taif accord guaranteed each different ethnic group representation: There are no different ethnic groups in Lebanon, the majority of the Lebanese are Canaanites, Of course there are those of an Arab descent, some Kurds and a significant Armenian minority, but ethnically speaking, the Lebanese are Canaanites regardless of whether Muslims accept the fact or not. You can identify as whoever you want but facts are facts.
10 - The Taif accord didn't guarantee that each sect's representation, each sect was represented since Lebanon's independence and the parliament was always 50/50 between Christians and Muslims. The Taif accord took away most of the President's (Christian) powers and gave it to the Prime Minister (Sunni) and the parliament (Shiite).
If the Lebanese are Canaanites, then we're Scythians, the French are Gauls and the Italians are Romans lol! Anyways, almost all Lebanese are Arabs: they speak an Arabic dialect, eat the same food as neighbouring Syrian and Palestinian Arabs, etc.
@@kazakhdoge1822 Just out of curiosity, do you know which criteria (s) are used to determine an ethnicity? If not, please go educate yourself then come back and 'lol' at my idiotic statements :)
The religion of peace destroyed another country....
@@justmusic3179 I know that one shouldn't larp as an ethnic group whose language is pretty much dead for thousands of years lol and the last people who spoke this language were dead 500 years before the first Muslim conquests. Besides, Arabs were already present in the Levant way before the Muslim conquests, most of whom were Christianized. And finally, many early supporters of Arab nationalism and pan-Arabism were Christians themselves and Muslims of Lebanon in the 50s, 60s and 70s supported pan-Arabism, not pan-Islamism because just like most countries in the Middle East, Lebanon was created by the European colonial powers, specifically by the French as a divide and rule strategy, the same thing that they attempted to do with the Alawite and Druze states but didn't succeed with them. Muslims, Druze and even some Christians (primarily Orthodox) of Lebanon never saw themselves as different from neighbouring Arab countries. Your Canaanite nationalism is an absolute horsecrap, a pure larp that is one of the most desperate measures to somehow see themselves as different, unique and advanced than "barbarian invader" Arabs. Also, while the PLO is partially blame for the Lebanese civil war, you also forgot to mention the Phalangists, the Christian version of ISIS that killed thousands of Palestinian and Lebanese Muslims in Karantina, Tel al-Zaatar, and Sabra and Shattilla.
Wasn't the PLO kicked out of Jordan after they assassinated the PM and wanted to overthrow the king?
What's wrong with the color grading in this video?
Don't know, but it's too white
it's time for an indipendent international exchange currency overseen by an impartial institution that does little more than oversee the realistic exchange rates of all currencies that accept this currency which they should cause it allows you to pay and be paid in your own currency regardless of the situation.
it would also mean that countries that print more money than they should also cause their currency to be worth less in this exchange system,
most importantly the US no longer get's to utilise it's currency as a weapon
The north and the south thing not that accurate ... good summary
Guys, I love your content and have been following you for more than a year.
Oh and I'm Lebanese married to Ukrainian lady.
One important chapter you forgot to mention was the occupation of Israel of the South of Lebanon from the eighties till 2001. I know that in previous videos you mentioned it, but adding it to this video also helps reflect the complete story.
More focus could have also been added to describe the situation post 2019. Yet, thank you for such a great independent portal.
The occupation of south lebanon, funnily enough, is one of the only things at the time that helped lebanon get outside currency, as south lebanese christian army were getting a lot of money in support from israel. But generally i dont think it was that relevent in lebanese economy situation, neither worsened it much or helped it
Or mayb the the reason why hezzallah as not gone in is due to the fact the issue if Lebanon economy,
They left the Palestinians in.... the end
Also Jordan fought against People Palestinian cavilians.
@@SimpleGeopolitics24you can't even write in proper english lol. If I were you I would just learn the language it's civilians not cavilians or whatnot you said.
@@krystalcz9251 That isn't how the word "whatnot" works... :s
I mean they could simply split.
Simple reason: US made political system in which each clan and religion own part of power Parliament, presidency,PM.
Iraq face similar problem.
simpler answer, diversity never works anywhere
Also TL;DR
Lebanese pound was pegged to the dollar; As long as the US dollar remains stable (1) and as long as the Leb. Central Bank maintains a sufficient amount of US dollars (2), the "reserve", this would work. But in Lebanon more Dollars were bought (= getting out) than dollars were brought in.
So the bank tried to solve this with lending more money to finance the "stability" of t he Lebanese pound. That's the "Ponzi" scheme like thing. That label is not justified, but I suppose the masses need such verbiage. From a financial point of view this happens a lot and basically standard practice.
Eventually, the central bank dropped the "peg" and that was a major reason for the currency devaluation.
The second major issue is that the hypercorrupt government could not pay back the loans they received from their banks. And this lead to a domino-effect of mistrust on every level, leading to the withdrawal of foreign investors for starters.
The inflation and devaluation of the L. Pound was part of the devastating domino-effect.
Plo? Don't you mean hesbolla?