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- เผยแพร่เมื่อ 4 พ.ค. 2020
- Tens of millions of Americans are out of work because of the coronavirus. But it didn't have to be that way -- and it's not too late for the US to change course.
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Few Americans alive today have ever seen unemployment numbers as bad as they are right now. At the end of April 2020, economists estimated that between 13 and 18 percent of US workers were unemployed. It's the highest rate since the Great Depression.
That figure can seem somewhat inevitable; the unfortunate but unavoidable cost of economic lockdown. It’s why, in response, Congress has prioritized shoring up unemployment insurance benefits.
But a handful of European countries have shown that mass unemployment isn’t a given in a situation like this. It’s a policy choice.
In this video, we explain how and why the UK, Denmark, and the Netherlands chose a different path. With the help of economist Heidi Shierholz of the Economic Policy Institute, we explore whether the US can still avoid millions more job losses.
Sources/further reading:
The Nordic Way to Economic Rescue (NYT): www.nytimes.com/2020/03/28/bu...
Keeping Business Alive: The Government as Buyer of Last Resort (Emmanuel Saez and Gabriel Zucman, UC Berkeley): gabriel-zucman.eu/files/corona...
A ‘phase four’ relief and recovery package should provide economic assistance to state and local governments, extended unemployment benefits, and better protections for workers and jobs (Josh Bivens, Celine McNicholas, and Heidi Shierholz, Economic Policy Institute): www.epi.org/blog/a-phase-four...
Why Is America Choosing Mass Unemployment? (NYT): www.nytimes.com/2020/03/26/op...
Coronavirus: Government to pay up to 80% of workers' wages (BBC): www.bbc.com/news/business-519...
Social Security: Unemployment Insurance (VCU Social Welfare History Project): socialwelfare.library.vcu.edu...
The Unemployment Rate Is Probably Around 13 Percent (NYT): www.nytimes.com/2020/04/03/up...
Jobless claims top 30 million as coronavirus continues to devastate economy (NBC News): www.nbcnews.com/business/econ...
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that art director made sure he wouldn't get laid off
For real tho, amazing work
that art director's eating a lot of ramen
Yup is was amazing
Haha, I wanted to type a comment too but you said in much better way. Bravo to both of you
Who are you talking about?
Just to be clear we currently have a conservative government in the UK. This should help show how nuts america politics is.
Yeah. This is the same government that has consistently taken funding and protections away from the most vulnerable in our society since David Cameron was elected in 2010.
I don't understand the USA.
In my opinion the american left is the equivalent of the europen right and the american right is the equivalent of the european far right (I am French).
Same in Aus. They agreed on a bipartisan cabinet to get the states to co-operate with each other and get bills out.
@@brendanpospischil3871 Not needed in the UK since we have an overwhelming majority government now.
@@cosmedelustrac5842 Change the word European to French because your statement doesn't fit with most European countries, especially not Great Britain.
Why does the richest country in the world have third world country problems?
Because their president want to make america great again
Ask Clinton, Bush and Obama.
Because the wealthiest people in out country do whatever they can to gain more of that wealth and use the lower class people to attain it. There is no help your fellow man with the wealthy. It's every man for themselves.
That’s not exactly true. I’m from the UK but it’s not fair to say that about the US. Some places in Africa have little to no respirators. Barely any icu beds and would have little to no money in reserve to help their people and then pair that with the fact that’s it’s not uncommon to find 10 people living in one small house :///
@@williamcastaneda8124 Africa isn't the supposed richest country in the world so your argument is misplaced. Obviously there are other countries that are struggling but they don't have the wealth that America does. The point is the US shouldn't be having those problems
As a European living in the UK, American politics scares me.
Yeah, cause Brexit was completely reasonable.
It’s designed that way
erzan the arrogance of American people shocks me the most
@@razorsun3574 Europeans are defo more arrogant. I say that as a european who arrogantly thinks europe is way better than the rest of the world.
As American, it scares me also.
No one wants services and support paid by taxes - untill they need them...
So true.
Arthur Carlin and most people don’t even understand all the ways in which those supports help. Public schools are socialism in action. Police/fire services - socialism.
Don’t like handouts? Well if your house ever catches on fire, hope you’re good with a bucket.
@@Lee5p33dy in Ireland some of our roads are privately built but the government buys it and pays off companies with tolls. Then keeps the tolls after the company has been paid off.
'Cause that' s the American way!
Arthur Carlin yeah and what about the self employed or the people working on commission? They aren’t making any money right now. Without capitalism there will be no jobs except for government jobs!
I think the title should be "Why we are seeing mass layoffs in the us but not in any other developed country"
I don't know if the "other" is necessary.
America 🙌 3rd world with a Gucci belt
@SoapMonkey76 I hate trump wholehartedly, but the us has had so many chances to fair better so calling him the problem is not painting the right picture. He is a symptom. The Us had good sytems or at least startingpoints to put up universal healthcare or limit capital gains on wallstreet or protecting workers, but they always choose to not go down that path
@@handich8580 TBH I kinda don't think 'developed' is entirely necessary either.
Scott Best analogy 😂
"Greatest country on earth" - they say while proving otherwise at every single opportunity.
@dregz mcgee Someone once told me that Americans think this way simply because they don't learn about the outside world. America sounds like North-Korea but then 'democratic' and more or less voluntarily.
Migration stats would indicate people see it as the greatest opportunity and best country.
You don’t see many Americans moving to the Middle East, Mexico or Africa
@@nhearn86 poverty stats would indicate the opposite. What people expect and what the realities are when they arrive are completely different. They would be better off going elsewhere.
@@nhearn86 It is because of the American dream myth. People in other countries thought that America is the greatest country and they can get rich quick here. It would be true if people came to the US 40 years ago. At that time, the economy was still great and there were a lot of jobs available. People came here during that time got successful and spread the story to the people back home. However, things have been a lot worse now. As an immigrant, I came here 10 years ago and have been wanting to go back to my home country. I didn't have a choice in moving to the US because I was a child that was depended on my parents. My friends back in my home country are all successful while I am struggling to get a job in my field of study. There are hundreds of applicants for just 1 position.
Thats probably because Merica! sounds a lot better than Urope!
Don’t worry guys, we’ll just spend billions on defense spending again, that’ll definitely help. Best country ever.
Well, for perspective, we just spent TRILLIONS on COVID welfare programs with no end in sight and plenty of people working to keep the "crisis" going.
Wow, please don’t ever say this in public, it shows your naïveté.
By the way, it’s 16%, and 66% on welfare. Basically 16% of our budget protects 66% freedom to be lazy and uneducated
@@mortaldao8044 (For the black community) The lack of fathers causes a disdain for authority this resulting in the results we see. Once the welfare state encouraged separations from the family unit, thats where the problem began
@@crash6442 🤦🏾♂️🤦🏾♂️
As Brad Pitt said: America is not a country, it's just a business.
And America is the country of lots of greedy people.
Not just him our constitution says it too
y'all think they lose money bombing and shooting countries? lol
Most businesses I have experience with have better plans for this pandemic than America.
Mikul Mistry greed is everywhere. America didn’t invent it and it will still exist if it ever disappears.
Why do I feel like Americans are just failing everything at every step of the way? I feel like we can’t get the most simplest of things right while other countries get things done.
We should be learning from other countries the us is much younger than most nations
It's not that they can't get the simplest of things right, it's quite deliberate. The money goes to the rich in tax breaks and handouts. You don't matter. Maybe this will wake a few od the dead heads up.
Bc we live in a dilapidated hollowed-out shell of a empire
We are close to a societal collapse so this is why we are completely dysfunctional.
Republicans
not just the UK has this system, most of europe does.
And also Canada
Cause naming every country takes longer than naming 3 examples?
the US only knows 3 countries US UK and china ;)
I think it’s just because the uk is culturally similar to the USA compared to somewhere like Germany or japan. And as proud as I am to be British constantly using the uk as an ideal example of how a country should work is quite annoying. Because yes we have Great things like the NHS but so do most other 1st work countries and they are often better than us brits.
@@idno8955 maybe, but the way they say it, it looks like only UK does this, while they could just have said "many countries in europe do this, UK for example......" this would at least be more true to the facts, and have made it clear UK isn't a strange duck with this unemployment benefit payouts.
heck they could have put a nice world map visible for a second with any country having such a system (but maybe not, cause maps always have some errors and those probably will be criticized as well)
Do americans realise their patriotism is the easiest way to keep the population from looking outside their sad little homes and see how other countries do things better than them?
Problem with news reports is people believe them . The UK is set for mass unemployment it's starting already . A failed scheme that cost the taxpayer billions
No.
tea mene ...another jealous person heard from...
Happy July 4th!
impossible! a massive echo chamber that emphasizes two parties on the same side of economic beliefs? never! not in my country that peaked 70 years ago!
The worst part is that the unemployment seems to be just starting...
Yep, we are all expecting the second wave.
oh yeh, it's going to grow as fast as the virus, doubling each time, seeming small at the start then OMG how did that happen ? maths...
@@oskarwinters1873 "cOrOnA KiLlS lEsS tHaN tHe fLu, it's nothing to worry about"
-people, a few months ago
>corona deaths increase expontentially
"how did this happen??"
Doubt it, I’m already back to work!
And yet Americans protest.
I work in the senior management for a UK-headquartered company of around 150 people, with a small office of 15 people in the US. The scheme mentioned in this video ("furlough" as it's known) has been an absolute savior for us. Our business revenue has dropped by around 25% since the start of COVID, and we've been able to, without any difficulty whatsoever, furlough around 20% of the UK staff. The government is paying them 80% of their usual salary and we're actually topping this up to 100% so nobody is any worse off. For us, it means we're able to retain employees that we've put a lot of work into training and integrating with the business. If, at any point, business picks up again, we can immediately recall these workers and remove them from the furlough scheme. It will save us money in the long term since we don't need to put investment into recruiting and training of future staff, and ultimately leaves everyone much better off in the short-term.
For our US office, on the other hand, we haven't YET had to lay anybody off, but it's inevitable that we will need to pretty soon if things don't pick up, since there really just isn't an alternative. MAYBE we'll be lucky enough to re-hire some of those people when things pick up, but there is no guarantee.
In the UK, it feels like we're setup perfectly for a bounce-back as soon as our industry does. In the US, it feels like it could take much longer to recover.
I’ve been furloughed and I mean it’s decent. I work for a school but am not needed because I’m not a teacher. I’ve got like two months pay for doing no work. Whilst I’m bored by now and frankly want to go back to work because I know getting paid for doing nothing isn’t healthy for anyone long term. It’s a good scheme from what I can tell. Also the fact the gov are Quantitive easing the money instead of borrowing doesn’t mean we’re going to be in more dept. We might have abit of inflation later on but we should be able to handle it. As far as I can tell no one really loses.
@@alanb9443 true but as long as people stay home we will get out sooner
Interesting perspective, not just helping people in the short term but entire industries in the long term
“What if it didn’t have to be this way?” Ohhh you mean like literally every other first world country in the world, right...
This pandemic has proven that the US is a 3rd world country masquerading as a 1st world country.
You mean what if we didn't have politicians that had to agree with each other on what to do instead of a supreme ruler who just said do this?
Stop thinking that the US government is a single entity. It's made up of a lot of people, and different states are experiencing this pandemic differently.
A lot of the individual states are pretty much on their own.
LeviathonCannon Think as Europe as the United States of Europe. Every country in the european union is not only an independent state but an independent country. They all had different approaches to this pandemic and none are going through what the US is going through. Wether americans want to admit it or not, the political system that the founding fathers created is outdated and needs to be reworked.
Same situation here in Australia. Government has put the economy into “hibernation” and covering employees wages totalling $1500 every 2 weeks for 6 months. Sure it has its faults but it has saved thousands of jobs, including my Mums!
We got 1200 dollars + 600 per kid, ONCE, as if that will cover the cost of living for however long this lasts. No wonder our unemployment and covid rates are so high! Two birds with one stone!
In Canada it's the same; our government offered to pay business for 75 percent of each employees pay.
Will you guys stop bragging about how much better your government is reacting to this?
I live in the Netherlands and was laid off because of the Covid crisis. All my employer had to do was give me a termination letter stating they were unable to continue with my employment because of the hard hit the hospitality industry had taken. All I had to do then was to upload that letter along with my contract to the Unemployment Bureau’s Website. They called me a week later and informed me of their decision to give me benefits starting in May. The money I’m getting is not a lot and I had to borrow from friends to make ends meet until the benefits kicked in but I’m at least able to pay my rent, bills, health insurance and food while job hunting. This is what happens with our taxes here. We get them back in multiple types of social and unemployment benefits, pension plans, top notch infrastructure, inexpensive healthcare, and affordable education. Why is that so hard to replicate in the US? People’s resistance to a welfare state over the pond is mind boggling!
Thank you for saying this
Bless everyone in the Netherlands and you, we need more people who aren’t selfish and think for themselves. Still excited to move out of this corrupt country in a couple of years. ❤️
I need a second income just to pay for health insurance lol. It’s absolutely pointless to have it if you don’t work for a big company or if you are young and healthy. The best insurance I can get right now has monthly premiums in the hundreds of dollars with a deductible to match. Why would I pay thousands of dollars a year for a service I don’t get to benefit from at all?? I just have to pray that I stay healthy or else I will end up in the emergency room with n $80,000 price tag to match my student loans. fml
I think people are starting to question this illogical philosophy. The US high taxes for the middle class and even higher taxes for the poor.
@@sunmarsh that's what happens in a Greedy Capitalistic Society... And it's not sustainable...
But in a socialistic society, evryone contributes the holistic welfare... And that's sustainable... Also, it makes people more selfless
"What if millions of people didn't have to lose their jobs? What if it didn't have to be this way?" Literally the story of America. Acting like a third world country dispite it having the highest gdp in the world.
Yeah, third world country in a Gucci belt 😂
Because GDP is not the only measure to tell how good a particular country is to live at... Most of US GDP is not working to improve lives of the people living there and that's the problem.
Michael Dewing from a Turkish Bazaar😂
@@dexio85 yes GDP alone does not show how well the country does, but GDP could tell how well the county can go. Allocation of the resources determines the course of the state and depends on the government and economy. OP's point was that the way USA allocates its resources is the problem, despite having the opportunity (GDP) to make difference.
Edit: and as you already said, US GDP is not working to improve lives.
This is very true, and very sad
American Public: We don't trust "big government" with all its bureaucratic inefficiency to hand out assistance to small businesses directly!
Wall Street Banks: OK, let us who have been conscientious capitalists and totally did not cause a previous economic crisis through greed handle this part!
American Public:
^^^
That's America for ya
Thanks for providing a laugh! :-D
I would be laughing but for the tears.
To be fair, it wasn't so much that the American public didn't trust Big Government to hand out the assistance *directly*, but rather that the American public--or at least a large portion of it--does not trust Big Government to handle such things well *at all*. Our lack of faith was only further justified by our current situation.
The stubbornness of powerful people in the US will always be our downfall
America, once again always choosing the worst way to do anything.
when did your country land on the moon? You've clearly done everything right after all.
Except they didn’t because this video is completely reductionist and pointless
It's funny how they talk about this as if this was some weird great idea that the UK had.
Meanwhile pretty much every developed country does some form of this. Except for the big one of course...
exactly
No. EVERY developed country has a form of this.
@@happyundertaker6255 Except America
I think it's just a good example to use for the purposes of this video, as the UK is somewhat culturally closer to the US than many other countries that have implemented something similar.
The UK is easier to understand and is less foreign to Americans, so focusing on the UK allows vox to convey the information easier. I'm not disagreeing that other countries have it but I see why vox presented the video this way
The USA: does everything wrong
Also the USA: "we are the best"
n people wonder why with my dual citizenship I chose to live in the UK over the US - case in point.
Jonanice - You must love living in de tiny, expensive flats, or are you in a UK council estate? And you must love de UK weather. And dat healthy UK food. Or are you one of the UK’s posh elite, driving de Ranger Rover to your country estate?
I have dual. I do the exact opposite.
USA gives the best opportunity for my family, low taxes, high wages.
Health insurance at work is cheaper than my NHS contribution, far better service.
Never going back.
@@Caocao8888 What's all dis and dat?
I didn’t know America wasn’t doing this too. No wonder we keep seeing all these Americans talking about how they got laid off.
Lol our gov is printing money
Well technically the fed
At the end of the day, same thing.
lol
Same here. I'm from a developing country, and there's no mass unemployment. Once things get back to some sort of normal, we still have our jobs. And in the meantime, the government has been handing out basic goods to each household, and sending financial aid to employees who are unable to work from home. There have also been additional financial dole-outs for single parents and households below the poverty line. I don't understand why so many people are getting laid off in America. Why can't companies just put everyone on freeze (no work no pay) for the duration of the lockdown? Is it any different from laying them off? At least then, everyone will have jobs to return to as things slowly go back to normal
"It's a recession when your neighbor loses his job;
it's a depression when you lose yours." - Harry S. Truman
So no depression or recession yet? Oh wait, I live in Sweden, forgot xD!
I thought it was a quote by Reagan used in a debate against Jimmy Carter that had this continuation: "Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Jimmy Carter loses his."
@@sultankamysbayev1937 Like him or not, Reagan had the style and humor.
Probably the most overcommented line on all of youtube right now. Jesus guys be original.
Been feeln the big dep):
If one were to start a brand new country from scratch, you wouldn't copy the American model. Just saying.
TV Streaming News you don’t know my life! Maybe I will! Although in all seriousness it’s because we hold on to our values even when they aren’t applicable anymore.
@pod pod do you really think European countries have a communism structure and have no freedom?
Not the brightest crayon are you?
The American model is literally responsible for the revolutionary-at-the-time idea that it's OK to go to a different church than the king. All the other countries that allow religious pluralism are copying our homework (and kind of the Netherlands' as well, but the Netherlands and the USA were kind of an extension of the same movement, as the Pilgrims spent some time in Leiden before sailing to Plymouth Rock, and New York was originally a Dutch colony).
You might not have a choice if you're in the Americas.
This is like the first time I’ve seen us (Uk) being used as a model country for something XD
Yeah, it's probably also the last time. ¯\_(ツ)_/¯
NHS is a wonder...nowhere in the world there is such welfare fod people
dont get used to it kyle
Well you are not a model country; you are just an example of a conservative led, big enough country to matter that has done something instead of nothing.
sbennett8104 oh come on not even a tea joke. How disappointing XD
The UK is also not the best European country with social security, and they’re still doing ok
It's one of the best after the nordic countries
Byron Perry No its very average
I mean they are paying 80% of people's wages to keep them employed by companies
@@jwrfd Most of European countries are doing this too
Byron Perry lol no but the system due to corona has improved a lot and government workers are unsung hero’s who have gone 110% to help my family when my father (the main bread winner) died of corona. Ehh system amazing people.
I leave in a “third world country”. I gotta ask, how is America a “first world country”? You have the money but you don’t take care if you people.
It's called kapatalism
Because they don't care about people, just money. Even Disney doesn't pay enough to survive. Disney employees live on their cars
Big money has VERY BIG influence in american politics. It is mind boggling to me.
Don‘t worry they will drop out of that pretty soon.
The US is a hamburger republic 🍔🇺🇸
Want to hear a joke?
America, the land of the free
lol we are tools
tHaTS A gOoD oNE...
Used to be free before trump became president. His powers were not kept in check like how it should be
@@kouavang3269 we were garbage before Trump, and watch, we will still be garbage after trump
The land of Life (without healthcare), liberty (with for-profit prisons) and the pursuit of happiness (against all odds, apparently.)
Like for the NHS 👍🏻❤️
Forgot to mention the reason the small business fund disappeared so fast: there was no system set in place to ensure it was only handed out to smaller business owners, so mega corporations jumped the queues through their relationships with the banks and swipwed it all up before smaller businesses could even get the paperwork in order.
I am pretty sure that is false, there was a limit on loan size and employee size to make sure that didn't happen.
@@Alex-it8qo "500 employees per location." It did happen
McDonald's got part of that small business loan
@@TheNerdsFromHell have lots of medium sized locations, slurp up all the money
@@Alex-it8qo Louis Rossman made a very good speculative video on he topic based on Information he received from his money people.
I’m from the UK, I used to have a job at a factory packing pastry. I had a letter telling me that I was going to be temporarily unemployed because of COVID but they’d re-hire me when it blows over. I know many people who are in similar positions
Was that before or after the furlough scheme was introduced? If you were layed of before then the company should still be able to rehire and furlough you now without treating you as a new hire. Depending on your contract it is likely better for the company to do this (e.g. they don't have to pay redundancy pay). I know there's probably not much you can do about it on your own, but if companies are firing people they intend to rehire then they're missing the point, and it may still be worth getting in touch with them or your union if you're in one.
Do you still get that 80% wages tho?
You still get 80% of your pay though since companies can furlough you. This isn't comparable to the US.
@@raz1683 Not if let go, only if your company furloughs you. I can't think of a single reason why a UK company would not use the scheme to furlough it's staff.... they can still let people go once this is all over if their business cannot re-employ them...
i'm in australia and faced the same situation. employers just seem to find redundancy an easier, one of situation to deal with than have to face the long standing economic effects of COVID
America is such a mess, I’ll happily move to another country.
Same. Just waiting for someone to comment how we should just leave. Gladly but our current system makes it hard to save enough between a medical bill or car repair. 😂
It’s unfortunate, but Canada is right across the border, plus I have family there, how hard can it be?
AltruisticWarrior That says a lot about the social cohesion and what sort of society that the USA is that your fellow citizens would tell you to leave for the simple reason that you want to improve your country.
Bye.
Yup. As soon as I get the time and money I'm out 👋
Europe : *slowly but surely improves with time*
US : *yeets logic and have third world problems*
"What if it doesn't have to be this way"
That should be America's motto.
It already is... just not in a good way.
@Luke Yeah. They are called "Democrats". They preach "Dependency upon the State".
YES
that's why Trump is wanting states to open up, it doesn't have to be this way of isolation
@Luke the correct saying is “a chain is only as strong as it’s weakest link” and we have a lot of those
The first role of a government is to protect the people.
But before that you need to maintain sovereignty. So this can't be first 🐿️
The first role of any government is to protect the interests of the decision makers
People trust their governments far too much. We are ants down here.
The first role of Trumps government unfortunately is to protect multinationals
@@da_revo5747 I would say that maintaining sovereignity is in service of trying to protect the people though. So no, the first role is still to protect people.
America gives me a headache. Sometimes I fantasize about leaving.
Me too ^ and money....
Aishik Ashraf family. I’ll miss my mom and sister too much.
Bye
I think you should...there is the door...
I do too and we've been here since the potato famine (that's for everyone reading your name and saying get out). My 16 year old daughter watching the news with a frown: "We're the spoiled brat of the world."
I’ve been getting paid 80% of my wages since March and it’s being extended until July in the UK. The government in my opinion is doing an excellent job. All my families jobs are protected and we can return to them happily after lockdown :)
Tell roll Royce employees that and everything else that follows down the road . Same old I'm all right jack view on things .
It's all money from citizens. It has to be payed back through taxes sooner or later.
For most companies it’s delaying the inevitable and that there will be some redundancies. Nearly half my team is furloughed and if work doesn’t pick up by the end of the year then I can imagine a few will be made redundant. My partner’s company has some out on furlough and their managers have to put a business case forward for each individual to retain them... so it’s not going to be BAU when this all ends for everyone!
It has actually been extended till the end of October
@@Campsy12 True. But at least all of you guys in the UK have more of a cushion for when the rug is pulled out from under you, which will happen. We in the US have nothing, never mind most of us pay taxes comparable to what people in the UK pay. We get nothing in return.
The USA: the only country where healthcare services actually lose more money in a pandemic
yep. i don't understand why doctors are getting a paycut during this time. hospitals make billions.
Some hospitals have been closing, though even before the pandemic.
@@bradchin7746 That's because in many hospitals for the past two months, all elective surgeries and appointments were cancelled in order to open up as many beds as possible. Elective cases is what makes the hospital money. Very sick people, like COVID patients on ventilators, actually cost the hospital money. So right now, hospitals all over have been hemorrhaging money, which is why you hear stories about doctors and nurses being furloughed. If electives are cancelled, some docs simply can't do their job. The hospital I work at is a ghost town. Thankfully, a huge majority of those hospitals in the U.S did not need to use all their beds. Now, hospitals in some parts of the country are slowly opening up to elective cases, which should help a little. However, the damage has been done and for some health systems, their finances won't be back to pre March 2020 levels for at least five years.
B c they also spend billions. They don’t have piles of money sitting around.
But the only problem with this is that many Americans will just think it’s communism...
Dude you could explain the idea of public schools and schoolbusses to Americans and if they've never heard of it they'd call it communism.
Everything is 'black and white', 'communism or capitalism', 'us and them' to americans. I guess that's what you get when you split your population in half politically and pit them against each other every 4 years.
EXACTLY right. Any sign of 'helping out for the common good' is sadly seen as left extremism in America. Where most of the rest of the world see it simply as the logical thing to do.
Haha so true!
And 99% of those who will say that can’t even explain what communism is.
But why is this so in America and not other countries? I’m in oz and we do not think this way.
I live in the UK and I'm so thankful and grateful about what is going on here. I'm getting my full wages and I'm not working at all, all because the government are paying 80% of my wages to my company and they're paying only 20%. This only happens if they don't lay me and my coworkers off. That keeps us all safe and keeps our wages going.
Meanwhile in Sweden: Most people that I know who are furloughed from their jobs get 92.5% of their regular salary.
Do you have people in Sweden bemoaning all the taxes that enable that kind of relief system or does everyone understand how good you guys have it?
@@geegeezlouis86 no because Swedes go to the US if they want to be successful. The ordinary people don't have anything to complain about.
Rymdkakor that has to be hurting businesses though... how can they be expected to constantly pay that without revenue or services performed by the employee? It just either delays you getting laid off or he business going under. And there are at least some benefits to the top not being taxed so much. With an increased opportunity for profit, there’s increase motive for innovation. America is (no debate here) the world's leader in innovation... something other countries get to reap the benefits of. Your probably right now using American technology both in the hardware you have in your hand and platform your viewing this on.
@run teldat...... and that's the point...taxes are great if you get VALUE for what you pay. Average Joe in the USA gets nothing much for their taxes
God I wish America would just start copying other people’s homework
America is the kid who thinks their a genius and doesn't need to study but them bombs the test
@@user-hh2lo9fs5e As an American, I've met too many people that are like this
The thing is...those small businesses that close will reduce the supply of whatever they were providing, demand will be back once lock-down is lifted. New business will open back up, there bound to be new opportunities for those willing.
why? it is good that we have a country that tries another system and still manages to be successful in it, they can learn from us but we can also definitely learn from them.
The difference here is that UK is the size of one of USA's states, doing something in UK doesn't mean it will have the same affect in the US. More people makes things more complicated.
“What if it didn’t have to be this way” is such an empowering idea for an individual to have. We are so used to the status quo that it can be hard to recognize the injustices against us.
This. I'm so used to youtube comments being filled with stupidity and vitriol, but things like this give me hope.
Edit 'cause I wanna say more. It's so easy to bash something for being bad; it's so much harder to create something better. Constructive comments are something I always long for.
This video was so well made omg, I had to watch it twice to see the animations and the props again!!
Those businesses should have spent less on Netflix and Avocado toast!
pantsuck11 I’m assuming you’re joking but either way, small businesses wouldn’t be able to survive being unemployed for so long without aid, even if they were able to budget perfectly
Socialism for the rich
Rugged individualism for the poor.
Martin Luther King junior:
😂😂😂😂😂😂😂
Sometimes I feel like America is just one big cartoon show instead of a actual country. The "United" in USA is so ironic right now.
Keep your hands out my wallet.
AKIDNAMEDRYAN 4 no country is united
maybe canada
south korea
new zealand
Same in United Kingdom, small businesses and freelancers are being forgotten
Hello you there what? quebec has a strong independence movement in canada and south korea by definition is not united because north korea exists
The split down party lines is just too wide. If we had someone to close that gap, then maybe we could become united again. But I don't think we'll be seeing that for another couple years.
Things must be pretty awful in America if they're looking at us in the UK and thinking that we got it right...
We may have not got it right, but we got it better
@@jamesbedford7327 Getting it better than the US isn't a particularly high bar
The UK, getting it better than the US since 1997! (When they banned guns)
The us shouldn't be looking at much of Europe. They're the ones who allowed the pandemic to get worse before it could get better and the US didn't have enough protection in our metro areas to keep the spread in control.
Desi Gamer Really? You’re pointing fingers? We’re in a global pandemic and your playing the blame game smh
But people don't want "socialism" in 'Murca. 😂 What a cruel joke.
When they hear universal healthcare they flee from it like it's Stalin's gulag
Makes you remember about a guy who was talking about giving $2000/month to every adult
It was 1000. I'm sure many people regret not voting for him
@@maxattack3853 it was Bernie but massive credit to Yang as well since he brought it up originally.
That would be a disastrous policy giving everyone 1000 dollars every month...
@@blackearl7891 Fk Bernie, Yang sounds like he actually have a plan. Bernie just making promises with no details on the plans.
@@SteamedBunXKuro says the person not bothering to read the law that was passed.
"Watching the US now is like witnessing the fall of the Roman Empire but with WiFi"
- Some Twitter User
im the 420th like
@@adampedersen5384 Blaze it
Thats too pretentious, even for twitter
I’m the 800th like
Eliza Grogan This was a perfect statement and assessment of the situation until you ruined it by saying you have faith in our leaders. They are all working together to herd us towards the abyss. Macron, Johnson and the German Chancellor and the rest are all dismantling our rights and our abilities to work and earn a decent pay. It's wicked what they're doing, Very, very, wicked.
*Laughs in European and basic working rights*
@Adam Efimoff r/wooooosh
@Adam Efimoff It's internet lingo.
Adam Efimoff its a kind of a joke-meme. You won’t get it if you aren’t into memes (i guess)
Enjoy the caliphate.
Europeistan
Video: *Facts*
1.2K people: *"I don't want to hear facts!"*
Not even close. The video is just factually inaccurate. "Once the lockdown is lifted, there will be no more jobs." The opposite is true. Throughout history we see prosperity and growth after a crisis.
those people wanna hear that they are living during the black plague so they can sit at home
E'raan Lue if your economy goes down 10% and then goes up 10% it doesn’t mean you’ll get back to pre crisis levels. Yes there will be growth but not enough to recover and not enough to create the necessary amount of jobs.
E'raan Lue At far lower pay and higher unemployment than before, unless the government gives people the tools necessary to get a well paying job(healthcare, job training, etc)
I love how you researched across the pond countries when just to your north, your neighbour Canada is doing exactly this and better.
When this was made Canada didn't have it as bad so it would have been a poor comparison.
Sunny Birdi yes but Canada does have a lot of land and not much people, it would be much easier to handle a crisis than the uk or the us
@@saxx9088 please give arguments for this conclusion
@@saxx9088 expect in Canada, the government offered to pay 75 percent of their employees pay.
"America is a 3rd world country wearing a designer clothes" ------- Anonymous
I blame the globalists. 🙃 HR 6666
This shamdemic will lose government created this disaster, three years ago that polio vaccine mamed and killed several people in india, bill gates foundation was sued because of it.
you couldn't be farther from the truth
@@sandrakimberlin5027 yeah, more like 47,000
That's the impression I got when I moved to LA from Europe.
When certain republicans want a politician with good “family values”, in reality they are saying: i don’t care about *your* family, the way my family’s been doing things for generations has been working for *us* , so let’s be blind to everyone else who has different beliefs and values as us.
You aren't their family. Why precisely should one care about people they've never met and will likely will never meet? The best you should expect is that they don't bring harm to you. The problem with government taxes, is that they do bring harm. I've said it before and I'll say it again, keep your filthy hands outta my wallet.
Cam Darlington - No... the majority of people in the US are good people, it’s just the two political parties are dividing the country more than ever.. You can’t just generalize for the whole US...
PietreADI I find the two party system really funny bc people forget how similar the party’s really are yet they pretend they aren’t. It’s like how people get attached to a team in sports but all the teams are playing the same game.
@Cam Darlington People in the U.S. are known for being a lot more friendly than people in Europe. We give you waves and have small talk with people we don't know (Though this depends on where you are in the U.S.)
Europeans are known for being generally very cold to strangers, and if you wave at them, they think you're creepy, and if somebody they don't know talks to them, they think you're trying to sell them something.
I just got laid off at work cos of the pandemic... Doesn't hit as hard because I always invested in passive incomes over the years. This is an advice to everyone out there; Do not rely solely on one stream of income. Thanks for this video because I am living testimony.
That is the best initiative . You must have seen the future already. But how did you go about this?
I really want to invest aggressively now because I can no longer reply on just one means of income.
I will like to have passive investment but I really need some directions.
PATRICE ANN ISABELLA made it happened. She is accredited and available on the web.
3:56 That one marble that got stuck is a pretty apt metaphor.
To any claiming we're socialist in the UK, we currently have a conservative government, headed by the most right wing prime minister we've had for decades
Cosmo how is he very right wing
In my opinion the american left is the equivalent of the europen right and the american right is the equivalent of the european far right (I am French).
I hope you realize you've provided ZERO evidence to support your claim.
no worries, it is so easy to be called socialist from the US and it is usually nothing to do with the real socialist parties
@@cosmedelustrac5842 the American left would be centre left in Europe lol, not right wing.
Most European nations were welfare states with strong safety nets before the Corona virus hit. And now that it's here all the systems are already in place to fund relief for businesses and employees hit by the coronavirus.
The United States isn't a strong welfare state. And as it turns out, it's hard to build one during a crisis.
Vinxian welfare state, exaggerate much?
@@maxdondada yeah they actually care about everyone. Not only rich ppl
@@maxdondada I think it's the only term they know how to describe it. I don't think they mean it in a badway.
Indeed Reason USA biggest weakness to Ts Healthcare system collpased and US Military Budget but cannot stop a tiny virus.
@@maxdondada The word "Welfare" means "wellbeing"; it's not an insult. When EU nations talk about being "welfare states" it means they fight for the physical, mental and financial well-being of their citizens rather than.... pleasing lobbyists or corporations first.
2019: "Hey, I think I'm going to start a small business! I'll get a good salary from it along with my work salary!"
2020: "Yeah, haha, no."
Just sell ppe and cleaning materials like disinfectants. Many businesses are going to be looking for these when the lockdowns end.
Where is Donald trump with his „JOBS JOBS JOBS“?
사브리나-Sabrina before all of these unemployment was the lowest in 50 years so yeah even though he didnt manage the whole situation well dont blame it on something else aight ma g
Global pandemic happened
Yep Trump invented virus
and it's going to rain tommorow so obviously
Trump is responsible for all weather.. unless it's sunny.
then it's all the left wingers
doings
@robert mugabe Because it didn't help people enough. The House is going to pass a better one, and then it will be the Republican's turn to reject it.
When trump mentions things in threes like that, it's usually the next thing he will completely destroy. Whatever is being repeated is the target.
I love how Americans always think they live in the wealthiest, most developed country in the world. Europe, Canada, and Australia, New Zealand have it a lot better.
Mohit Sharma Europe ain’t a country.
@@pb.j.1753 i think what OP means is European countries
America is good for the top 1%
For the millions of Americans hovering around the poverty line, its no different to a third world country.
@Gorden Gecko How are many ghettos in the US any better?
Third world countries probably have better access to healthcare, to be honest.
Gorden Gecko to a certain extent they’re right, but I agree a lot of people compare to the US to developing nations and although there are definitely a lot of problems in the US I wouldn’t say it’s actually comparable. It’s an incredibly wealthy country, with a fairly progressive society and a lot more freedom than most Americans could imagine. Slightly insensitive to those less developed countries tbh.
What If The USA Was A Good Country - Part 18
This made me laugh-cry
And my family wonders why I’m leaving the US in the near future....
Take me with you!!!! America is so ghetto.
Here in Portugal, the government said to the companies: "hey don't fire that dude. He'll get paid at least the minimum wage, or else 2/3 of his salary, and you only need to pay 1/3 of that. We'll cover the rest and you don't need to pay his social security tax either. When you resume the economic activity we'll pay you his monthly salary as a bonus. The only requirement? You can't fire him over the next three months."
Just a bit of live fact checking. The UK government is paying 80% wages to furloughed staff up to the value of about £2300 a month. This means that there are a lot of people out their who are affected fairly significantly by the lockdown but at least unlikely to starve to death or become homeless.
I guess the thing that we Brits find so bemusing about our friends over the pond is the sheer callousness of your economic system. Your government doesn't seem to care whatsoever about your changes of circumstances and the idea of helping people seems at odds with your entire ethos.
Over here we quite justifiably complain about how cruel our own government can be but I know which one I'd pick given the choice between the two!
The ways the parties are split right now, there's no way something like that could happen.
@Paul Wember But ask a recently laid off worker where they'd rather be... You get one guess.
@Paul Wember if we were really worse of than the U.S then people would be worried about not getting paid plus what do you expect the uk is a smaller country than the U.S and if you actually checked the deaths and number of people actually getting it is going down at a good rate so its still the U.S thats doing much worse sorry to break it to you
@Paul Wember read it again i edited it since you cant read simple english
That strange thing is our government is a reflection of our people and our poor education system. So how we vote will only change if we dramatically reform how we educate ourselves.
I mean the irony is that the UK is one of the freest economies (more than US). People in US scaremonger that things like this and NHS will lead to some kind of socialist state. It just means less people stress about feeding their families or having a roof over their heads.
Less stressed people think. That's bad for Washington.
Less stressed people are harder to scare and manipulate.
Also less stressed people tend to make better choices, be healthier and eventualy more educated and productive. But that doesn't directly & immediately benefit the richest.
The place people get arrested for Twitter comments?
The government here in Chile is doing something similar as UK as well.
The fact that this all happened so quickly shows us the truth of our farcical, fragile little economic system.
“AmErIcA’s tHe gReAtEsT CoUnTrY iN dA wOrLd”- American’s who don’t see how poorly our Country’s ran
To be fair, it’s not their fault.
As evidenced by your grammar, brought to you by American education.
On some days I feel sorry for the people of America. On other days I feel like it is mostly your own fault.
@j d strongly agree
The country is run exactly like the oligarchy wants it to be run.
They don't have to turn out that way, but it will because 'merica.
Good. People in poverty are sick and tired of incremental change that only puts bandages on systemic problems. If the system breaks entirely we have to draft a newer, fairer one. Unfortunately capitalism is so widespread and ingrained in people’s minds across the globe that no one can imagine a life without having their worth valued by the profits they can make for businessmen.
@christopher weise you guys should just become all pro guns, then sack stores and then just overthrow the government i mean in my country it is illegal to own a firearm without a process that lasts months and you have to buy it from the military
everything gun related is done with the military and takes ages, thats why people just buy americans guns smuggled through the border
you guys have it so easy, there are guns everywhere, if you all organized it would be done in a day
I live in Germany and work at a museum, which was closed for 3 months due to the pandemic. The museum had zero income, we had nothing to do. So we just got send home, had 3 month holidays and got 80% of our income. And I was really angry because some of my friends who also got send home got 90% of their income.
Now after watching this video I'm feeling really priviliged...I didn't even know that there are highly developed countries like the US that didn't have this system. Woooow. I'm so happy to be german tbh
Okay, what happened after those three months? You get no money?
You also didn't mention one big thing: laying someone off is difficult.
In most of the developed countries you either have to prove some fault in worker or pay them "goodbye money". In a situation when business has to stop for some time for external reason - you're legally obliged to pay workers set percent of original amount. This way a lot of employers, especially bigger ones, have these money set aside - it's cheaper to pay someone for month or two waiting for new clients then lay them off.
What countries does this happen in??
@@CrazedComposure it happens in the UK and I would assume most of Europe as we all have fairly similar systems. It's called redundancy pay. After you've been working for an employer for two years there is a formula set by the government to how much pay you get for the number of years you've worked depending on your age. So if I'd been working somewhere for ten years I would get 10 weeks of pay if I'm made redundant. If I was a bit older I would get 1.5 weeks for each year employed by the company up to a maximum of 20 weeks worth of pay.
@@CrazedComposure It happens in a lot of places, it's like this in my country, the Dominican Republic, and were not even a ¨developed¨ country. Laying off someone costs a lot of money, and the amount grows according to the time you've been working, your age and your health. Usually, employers will force or put pressure on employees to quit so they don't have to pay them.
@@CrazedComposure Every EU country I know of, actually
NZ also has a wage subsidy in place. It’s well done. We have controlled unemployment and the virus . The US approach works well in the good times but completely fails in the bad times...the country has many outdated ideologies and laws
Zero cases!
Yeah, individualism is very outdated, but greed is still very fresh
Australia has too
I wouldn’t even say it works well in the best of times. It works well for * some * and for those few....it’s still working out pretty well. The poor are still poor and the line between poverty and middle class is evaporating.
I'm so glad I live in NZ.
the system worked pretty until an actual problem happens* doesnt sound like a working system
Latvia also has a similar model like the UK - companies are getting support from the state to pay employees no less than 70% of their salary if they aren't able to go to work. There are some issues about the amount some are getting, but the idea works.
That's so sad for the American people, the government screws them over without support when times get tough and they become unemployed, they spend billions on military each year, but when a pandemic hits the nation, which is roughly one in a hundred year possibility or even less they make there own people suffer... the very people that pay the taxes for government spending.
Why is the American government always so bad with giving money to people who need it?
Because one of the major political parties stands in staunch opposition of this idea. They see as the only path a business oriented approach with the assumption that if the businesses are prosperous, then the workers will be prosperous. The problem I see with this is the business really does not have the worker's interest in mind, especially if that business is publicly traded. Sure businesses need workers (less and less due to automation), but if businesses can reduce operating expenses (payroll) they can increase their profits without increasing revenue. Most try to find the point of pain for the worker between a job that is not worth it and a job that pays enough, keeping pay just above this "pain" level. That way they can retain workers without spending too much.
Most government programs are based on need as governments do not consider profit as a motive. They are more concerned with prosperity of the whole country.
Capitalism
ajm8127 You nailed it.
Because (many of) the people who need it vote for the policies/politicians that favor the wealthy and the corporations. Hard to believe, until you realize that most poor people think of themselves as temporarily embarrassed millionaires. Despite all the evidence to the contrary....
because they have a complicated system... meaning it has to be written, processesd and put into a computer that system, or computer are our grandmothers age
America: where everyone capitalizes on each other till there's nothing left
Lauren Matal ain’t that the truth! Very well said 👍🏼
PREACH!!!🔊🔊
It's all still there, just in offshore accounts.
Spare me you spoiled brat
Only big corporations win in the end.
Guys i added honey instead of sugar in my tea and its better
Thanks
Hows that "land of the free" thing going america?
It's not bad! We're just chillin, don't let the news fool you. I still have a job, and my friends that got laid off are getting paid MORE than they did when working.. America isn't perfect but remember there is 330M ppl and 50 states with different laws. And I would be willing to bet that this system will be able to rebound a lot quicker than most people think. Cheers!
If this was a video about 'stay at home' orders or mass incarceration in America, then your "land of the free" comment might mean something. You could have said, "How's that 'Subway, EAT FRESH!!' thing going America?" and it would have been just as meaningful.
It’s pretty bad. People are assuming that “land of the free” means that I don’t have to follow any rules or policies I don’t want to, even if that means risking the lives or others and myself.
Stop thinking "When will this get back to normal?" and start thinking "What is the new normal going to be?"
Specially when the previous "normal" wasn't working to begin with.
Thomas Philip I’ve been saying this. “We just need to get back to normal.” What is normal after 70000 plus people have died and an estimated 30 million people have be ousted from their jobs.
Exactly, there's no such thing has "normal", we need a new standard they'll be beneficial down the line, not some kind of short term solution
So many lives needlessly lost. It's a tragedy, aye - and the US should absolutely oust their government if they try to go back to how it 'was before'.
Why not both
if, only if, America starts diverting all those billions of military budget and start using that inside their own country on their own people...
Nandan Desai they are probably developing a new fighter jet to fight corona virus, gotta keep those industries going with taxpayer money
"start using it on their own people" careful how you word that or you might give them some ideas.
Mekose 🤣🤣🤣🤣Hahahaha
USA already is using it's military tactics on it's own population. Read Chris hedges on this subject.
@@loganromney9147 I mean they could also stop invading countries and stuff
This whole thing boiled to one sentence. Using the banks as a middleman delayed the loans. K, got it.
I live in an area where Covid hasn’t been too bad because of strict lockdowns and people not being selfish but a small gluten-free restaurant that I loved closed down permanently because of corona, now I am sad
I'm sure if the top 1% had more to gain from a UK-style system, we would've had that in a heartbeat.
ChrisJ yep
But they do have more to gain: they don't have to pay employees during lockdown and don't have the hassle of rehiring when the lockdown ends... that's why the UK system is good!
ChrisJ Don’t they get more from UK style system? Small and medium-sized businesses usually provide from 40 to 50 percents of GDP in most of the developed countries, so to prevent mass unemployment aid has to be distributed to a huge range of companies sometimes including multinational conglomerates. This are literally liquidity injections for both small and big businesses. I could only guess that these injections improve the mood of some members of economic elites. This is all just to say that American economic system is different from European
your profile picture just reminded me of something I had buried deep within my mind
You are buffoon. City of London in the center of UK is Literally a plutocratic state with Complete control to corporations.
Their tax haven Islands and foreign exchanges is what keeps uk's economy relevant.
this is Kurzarbeit in German speaking countries...
I thought that's standard in modern countries.
USA you shock me once again.
USA are third world in many things aside from the military technology they possess. Being the second most powerful country on Earth is cool but when your homeless, homicide and pro-working class statistics are terrible, what are they so proud of?
@@thesupergreenjudy Your comments are not entirely correct. Most people in Germany are working from home as well, and those who cannot work from home have Kurzarbeit.
@@thesupergreenjudy Here in the netherlands, all childcare services are now paid for by the government, for people that work in vital jobs, and self employed people get all kinds of benefits as well. That all next to similar things as in the UK, the govmnt pays 80% of wages in companies that had to go full-closure i believe and companies are incited to pay the remaining 20%. If there's one thing we learned from 2008, is that the system can get through a lot as long as people can keep spending, and for that they need mostly normal wages. Also it's important to make sure there aren't companies leeching off the crisis and running up the national debt in that way.
@@thesupergreenjudy you get 60% from the get Go but you can get more If for example you have children at Home (+7%) or other beneftis. Also your refund is determinated by your net salary which is calculated with a Chart. If your Lucky you might get more If your normal net salary is lower then the one stated in the Chart etc etc. All in all for a normal Family you get around 75% refund with all the extra Bits and bobs and a lot of Germany is doing Work from Home so its not as Bad as you might think. Cheers
@@thesupergreenjudy I don't know enough to comment on what the case is in Germany but here in Switzerland Kurzarbeit does cover 80% of income and is granted very easily. Any business that has had to temporarily shut it's (literal) doors or is suffering from loss of business due to the Covid-19 related measures can also get an interest-free 5 year loan of up to CHF 500 000 that is guaranteed by the State. Those who can are working from home and only essential businesses are allowed to be open. These measures were put in place a few weeks before the UK government acknowledged the need for any sort of measures. We are slowly coming out of the lockdown with incredibly stable measures put in place to protect businesses and workers from unemployment.
Hmm, this didn't age well. "More than 600,000 lose work in UK as COVID hits jobs market"
I’m in the UK and now the lockdown is lifting everyone is getting laid off now. I definitely agree that the UK handled the situation better than the US (but that’s not exactly hard). But now the UK need businesses to get back to normal so the economy can go back but nobody wants to cause there is still risk. So now loads of places are closing down and unemployment is spiking. So definitely not perfect. Our government can’t seem to decide what they actually want to do.
If the United States ran itself like us (Australia, New Zealand, Canada, Western Europe) than not just the US would be better off, but the whole world.
Truly agree. Too bad it's a pipe dream.
I'd agree that there are things that the US could look to oversees and implement here for the benefit of the people. But try to see the US as a rebellious child that grew up into a rebellious adult and is still acting like a teenager, even though they're in their 50's and everything's creaking and groaning and the world's telling it that they're "not 20 anymore, chill out dude." It's uh...probably not gonna work.
Beyond that I'd simply point out that Americans are indoctrinated in schools to believe they're free. And most older folks fervently hold onto that idea that they have freedom, somewhat. I think younger folks just tend to feel lied to and disenfranchised, thus aren't politically active in the US. Saying 'you should be like us' isn't really...helpful, either way. lol
True. The US is a bad example for third world countries but nevertheles it sells itself to those countries as an example to emulate
Exactly
@@EclecticoIconoclasta yep amd if countries didnt want to copy and emulate the US then the US will find a way to start a proxy war in that country in the name of "liberty".
Europeans be like: we have a government so that we solve problems collectively, that we can not solve individually!
The UK is refusing to work with the EU in any way, which is making our situation worse.
@@theMoporter Were still European tho. Besides each EU country can run how it likes, we can still borrow ideas from other nations
Paolo Elias they’ve refused an offer to get EU respirators in favour of giving a contract to a firm owned by a Tory donor that’s never built them before.
Even within Europe the UK is seen as the closest to the US in terms of conservativeness and economic liberalism. Countries like Denmark, Germany and Finland are way ahead in Social Welfare.
They have an actual state
Simple answer: This is America 😐
Don't got you slippin' now
The reason why unemployment rose so much is because you can fire most people in the US without giving a reason. In Europe, you have to give a reason and if it’s for “reconstruction purposes”, like in this case, you have to pay them severance packages, which are usually 1-3 months of their salary. It’s not because companies might close when the economy reopens. That doesn’t make any sense.
Rich people: Hey, um, ca-
The US: *Gives $2 trillion bailout to Wall Street*
Regular people: I can't feed my family, pay rent or get healthcare.
The US: I'm sorry I have no idea how to help you, have you tried inventing Facebook?
@xLuke_25x The video didn't say it didn't work. It said that might not be enough long term.
wow I’m usually quite critical of the UK 🇬🇧 government but when you compare it to the US 🇺🇸 you appreciate it. My dad lost his job due to the virus 🦠 but the UK 🇬🇧 government is paying 80% of his salary. It ain’t all but I think it’s good for him to spend this time at home and safe at these times 🦠
So during the great depression they made a law from copying what the other Countries had but they still failed at copying it exactly
Mnuchin: "We're taking advantage of long-term interest rates"
His Grandchildren: "It's a TRAP!"
His bank friends: "Good, good, you have done well my apprentice"
Opportunity for a nice pun there: "It's a TARP!"