I'd like to see some over leverage graphs from Blythe on China. It's easier to retrospectively explain crashes.... if he is so smart... when and how does he predict the next financial shock will happen?
It's NOT easy to explain economic crashes, even retrospectively, as evidenced by the multitude of books/articles about the 2008 GFC, which disagree about both the underlying causes and the most appropriate treatment. Also, judging an economist on how well he can predict the future is like judging a politician on how well he can predict the outcome of an election.
The graphs matter! Please focus on the screen with the presentation and occasionally go to show Mark. Also, the logo is a bit large and covers parts of the graphs so you can't understand what is going on.
Will flat interest rates and growth for the foreseeable future force conflict and neocolonialist exploitation in order to maintain wealth/power? Or will politics adjust to the new slow-burn global economy and expectations reduce?
Blyth is a smart guy , but I am surprised that he makes a basic economic mystake: The main responsability for managingvdebt levels must be from country contracting the debt. Not the other way around
Mr Rosso great argument. brevity may be the soul of wit, but it's the bowels of understanding macroeconomics. i would like to hear your expansion on how the crash was a left induced phenomenon.
Well the left believes that money, capital, investment, wages, debt, prices, booms, and busts are all phenomena of the same order which basically gives wall street a blank cheque to run them in circles with financial wizardry while they're ranting about overthrowing their bourgeois manager that makes $17 an hour. Marx made a distinction between financial and industrial capital for a reason: One is feudalism, one is capitalism. Everybody says "yeah smash capitalism!" well guy's 66,000 factories closed in 2 decades in the USA. Capitalism has been destroyed and Wall Street did it. Have fun.
Couldn't agree more, but morons might say nice name lol. I don't think any of this is the left's fault, I'm just saying that leftists should try to understand finance better, because if we don't then we run the risk of misdiagnosing the problem. Blythe understands finance very well and so he is able to see the forest for the trees and actually see what the problems are, which is the first step towards solving them. A lot of leftists just say 'capitalism bad. Smash capitalism' but that's not exactly easy to do and it might actually be counterproductive. Knowing the system inside out allows you to see its flaws as well as its benefits
The left for its part successfully identifies the system as illegitimate and evil; yes they are 100% right no question. The right ignores the corruption and insanity right now and says "oh the system is built on merit and competition. Therefore it is Capitalism; Capitalism = good; system = good". And they would be 100% wrong. The two are both making the same fundamental error: That the current system is built on free enterprise, productivity, and wages. No. Not even close. 50 years ago that was wrong. Nowadays that's a complete non-sequitur. The only disagreement is that the left thinks the system is evil and the right thinks the system is good and neither one can see the actual rot in the center. It can be maddening watching debates play out in the same predictable, confused spirals. Both sides could have their cake and eat it too if they accepted that the system we have now is actually older than both Socialism and Capitalism: Feudalism. The left gets frustrated when people call the USSR "socialist"; ok fine. But its just as annoying to call what we have now Capitalist. Picking fights with the people who make society actually function (the people who start and run legitimate businesses) is fucking retarded and makes the left look like spoiled, bourgeois, out of touch, moronic children. The left so often behaves like everything they claim the "capitalist class" is doing. Well guess what, the democrats and liberals have benefited just as much from being the global reserve currency funny money printing the USA has engaged in as the right (if not more if you look at military enlistment statistics). We all benefit from the fraud as much as we get hurt by it. We have people being charged for starting lemonade stands for Christ's sake. You're telling me a Papa John's owner is an "oppressor" but YOU'RE fine? Seriously get out. And the right gets shocked, and appalled at the left when they keep calling for "wealth redistribution, fair share, property is theft! etc et al". Well you HAVE TO PROSECUTE THE CRIMINALS WHO BREAK THE RULES; SO STOP CALLING THE PEOPLE AT THE TOP OF THE SHIT PILE GENIUSES FOR RUNNING FRAUDULENT ENTERPRISES. That is beyond the pale. What on earth is the Common Law idea of "restitution" other than redistributing I'll gotten wealth? There SHOULD be wealth distribution because it was gotten FRAUDULENTLY and thats 90% of the economy now! They quote race and IQ statistics ad nauseum like our system rewards intelligence and hard work which is borderline sociopathic under the circumstances. They have the nerve to invoke the bell curve when the largest companies require $29 TRILLION bailouts? Fuck. Right. Off. No wonder the Social Justice crowd is losing its collective minds dressing up like vaginas. At least the left recognizes the economy is a malevolent dumpster fire. The right needs to grasp that failing to prosecute the banksters is courting a Bolshevik uprising. Tl;dr: you can hate each other rich or hate each other poor. Pick one.
Inflation is not rising wages ....Inflation is expansion in money supply, which in #this order# affects prices:1 financial assets rise and bubble2 real estate rise and bubble3 rate art and collectibles bubble4 commodity prices5 consumer prices 6 labor costs .....We have had a ton of inflation past ten years, we just haven’t felt it by 5&6 . We are still to beginning of point #4
1970s were prosperous because of inflation???? 1970s are uniformly accross the board regarding as the miserable decade. There was the misery index! All the money printed in 1950s and 1960s(wars, Great Society) hit the market and consumer prices! People lost everything they had when dollar got off gold standard!!! This guy intentionally omits 95% of the story, because it feels convenient to him!
milen mirchev The 1970s were volatile because, as Blyth points out, there was a hostile takeover of the Western political systems underway. The ‘investor’ class (the people who do nothing, but control vast wealth) were unable to increase their dragon-hoardes and so seized control of the ‘conservative’ political parties (and the opposition parties, via less direct methods) in order to force through systemic changes that redirected created wealth from the working people (this is everyone who works for an income, not just ‘blue collar’) back into their pockets. The post-wars period saw veterans return and take control of Western societies - compensation for saving the wealthy from fascism. After a couple of decades the wealthy wanted their old system back. (Wealth was still accruing in the 1970s.)
7:30 The "these guys" Blyth referred to were Milton Friedman and Friedrich Hayek.
Brilliant Series...what a shockingly grand scale of insight! Blythe is a wizard!
holy shit i need to watch this on half speed! this is so information heavy!
Thanks for posting this - but it would be great to see less of Mark’s face and more of his graphs 😉
he gave a similar lecture where you can see and download the slides.
th-cam.com/video/qY2pv3Bt_jM/w-d-xo.html
I'd like to see some over leverage graphs from Blythe on China. It's easier to retrospectively explain crashes.... if he is so smart... when and how does he predict the next financial shock will happen?
He is saying we are on life support, and are a walking disaster zone. Throw a dart.
It's NOT easy to explain economic crashes, even retrospectively, as evidenced by the multitude of books/articles about the 2008 GFC, which disagree about both the underlying causes and the most appropriate treatment. Also, judging an economist on how well he can predict the future is like judging a politician on how well he can predict the outcome of an election.
Please show slides!
Please use two cameras! We want to see the slides.
This should be required viewing for every citizen. They'll be desperate on both sides of the Atlantic to silence this man!
Great effort. Looking forward to your future posts. But plz equalize left and right channels.
Really interesting....but would have appreciated seeing his graphs to help understand his points
This would be much easier to follow if the slides were shown properly.
Should have just pulled back and showed the screen, and him.
is there a video where Mark explains the threat the passive investment vehicles pose?
th-cam.com/video/TyxcholoFG8/w-d-xo.html he talks a little bit about it at 45:45
The graphs matter! Please focus on the screen with the presentation and occasionally go to show Mark. Also, the logo is a bit large and covers parts of the graphs so you can't understand what is going on.
My right ear is sad.
Will flat interest rates and growth for the foreseeable future force conflict and neocolonialist exploitation in order to maintain wealth/power? Or will politics adjust to the new slow-burn global economy and expectations reduce?
Blyth is a smart guy , but I am surprised that he makes a basic economic mystake: The main responsability for managingvdebt levels must be from country contracting the debt. Not the other way around
The Left needs to get smart about Finance!!!!
Mr Rosso
great argument. brevity may be the soul of wit, but it's the bowels of understanding macroeconomics. i would like to hear your expansion on how the crash was a left induced phenomenon.
Well the left believes that money, capital, investment, wages, debt, prices, booms, and busts are all phenomena of the same order which basically gives wall street a blank cheque to run them in circles with financial wizardry while they're ranting about overthrowing their bourgeois manager that makes $17 an hour. Marx made a distinction between financial and industrial capital for a reason: One is feudalism, one is capitalism. Everybody says "yeah smash capitalism!" well guy's 66,000 factories closed in 2 decades in the USA. Capitalism has been destroyed and Wall Street did it. Have fun.
Couldn't agree more, but morons might say nice name lol. I don't think any of this is the left's fault, I'm just saying that leftists should try to understand finance better, because if we don't then we run the risk of misdiagnosing the problem. Blythe understands finance very well and so he is able to see the forest for the trees and actually see what the problems are, which is the first step towards solving them. A lot of leftists just say 'capitalism bad. Smash capitalism' but that's not exactly easy to do and it might actually be counterproductive. Knowing the system inside out allows you to see its flaws as well as its benefits
The left for its part successfully identifies the system as illegitimate and evil; yes they are 100% right no question. The right ignores the corruption and insanity right now and says "oh the system is built on merit and competition. Therefore it is Capitalism; Capitalism = good; system = good". And they would be 100% wrong. The two are both making the same fundamental error: That the current system is built on free enterprise, productivity, and wages. No. Not even close. 50 years ago that was wrong. Nowadays that's a complete non-sequitur.
The only disagreement is that the left thinks the system is evil and the right thinks the system is good and neither one can see the actual rot in the center. It can be maddening watching debates play out in the same predictable, confused spirals. Both sides could have their cake and eat it too if they accepted that the system we have now is actually older than both Socialism and Capitalism: Feudalism. The left gets frustrated when people call the USSR "socialist"; ok fine. But its just as annoying to call what we have now Capitalist. Picking fights with the people who make society actually function (the people who start and run legitimate businesses) is fucking retarded and makes the left look like spoiled, bourgeois, out of touch, moronic children. The left so often behaves like everything they claim the "capitalist class" is doing. Well guess what, the democrats and liberals have benefited just as much from being the global reserve currency funny money printing the USA has engaged in as the right (if not more if you look at military enlistment statistics). We all benefit from the fraud as much as we get hurt by it. We have people being charged for starting lemonade stands for Christ's sake. You're telling me a Papa John's owner is an "oppressor" but YOU'RE fine? Seriously get out.
And the right gets shocked, and appalled at the left when they keep calling for "wealth redistribution, fair share, property is theft! etc et al". Well you HAVE TO PROSECUTE THE CRIMINALS WHO BREAK THE RULES; SO STOP CALLING THE PEOPLE AT THE TOP OF THE SHIT PILE GENIUSES FOR RUNNING FRAUDULENT ENTERPRISES. That is beyond the pale. What on earth is the Common Law idea of "restitution" other than redistributing I'll gotten wealth? There SHOULD be wealth distribution because it was gotten FRAUDULENTLY and thats 90% of the economy now! They quote race and IQ statistics ad nauseum like our system rewards intelligence and hard work which is borderline sociopathic under the circumstances. They have the nerve to invoke the bell curve when the largest companies require $29 TRILLION bailouts? Fuck. Right. Off. No wonder the Social Justice crowd is losing its collective minds dressing up like vaginas. At least the left recognizes the economy is a malevolent dumpster fire. The right needs to grasp that failing to prosecute the banksters is courting a Bolshevik uprising.
Tl;dr: you can hate each other rich or hate each other poor. Pick one.
Pretty accurate.
Slides! Ffs.
Inflation is not rising wages ....Inflation is expansion in money supply, which in #this order# affects prices:1 financial assets rise and bubble2 real estate rise and bubble3 rate art and collectibles bubble4 commodity prices5 consumer prices 6 labor costs .....We have had a ton of inflation past ten years, we just haven’t felt it by 5&6 . We are still to beginning of point #4
1970s were prosperous because of inflation???? 1970s are uniformly accross the board regarding as the miserable decade. There was the misery index! All the money printed in 1950s and 1960s(wars, Great Society) hit the market and consumer prices! People lost everything they had when dollar got off gold standard!!! This guy intentionally omits 95% of the story, because it feels convenient to him!
milen mirchev
The 1970s were volatile because, as Blyth points out, there was a hostile takeover of the Western political systems underway. The ‘investor’ class (the people who do nothing, but control vast wealth) were unable to increase their dragon-hoardes and so seized control of the ‘conservative’ political parties (and the opposition parties, via less direct methods) in order to force through systemic changes that redirected created wealth from the working people (this is everyone who works for an income, not just ‘blue collar’) back into their pockets.
The post-wars period saw veterans return and take control of Western societies - compensation for saving the wealthy from fascism. After a couple of decades the wealthy wanted their old system back. (Wealth was still accruing in the 1970s.)