Man keep making this gold. Honestly man sometimes I get really down, hard to laugh but I remember one time I saw one of your videos and I got a genuine laugh. And your stuff with internet historian lol. Cheers brother
Here's a link to the song if anyone is interested th-cam.com/video/YNm3Ggv01Ns/w-d-xo.html There are plenty of other Bardcore covers of many popular songs if this sort of thing takes your fancy.
I worked as a debt collector for a few years for one of the credit card companies you mentioned in this video and man it's terrible. Just about every collections department anywhere offers commission based on how much debt you collect so you're incentivized to treat every client as numbers instead of people. You mentioned in this video that most people rack up debt because of life's emergencies causing missed payments instead of reckless spending and you're 100% correct. Hearing stories about how loved ones died jobs were lost card members got cancer or other permanent illnesses and after all that you're expected to convince them to pay you money they don't have it's a sad industry.
“Hearing stories about how loved ones died jobs were lost…” did all that stuff happen or are you sure people wouldn’t just give any excuse to get out of paying debts?
@@BlackWolf207 Both some were definitely trying to avoid paying but many you can hear the genuine pain in their voice. Often we even had a department verify if the information was true.
@@Bushdid7eleven "Used to." Ye of little faith. Heh nah, I'm wondering what it takes for a person to work a job like that (even to start, much less carry on). I'm hoping they left that vampiric place and have been making up for their soft cannibalism. ...OP...?
I remember my grandfather telling me when he was on a business trip to US from Yugoslavia he stayed at a fancy hotel and paid in cash. They looked at him like he was a leper and avoided him like the plague. To make interactions with people easier he was practically forced to use credit card.
Not surprising to be honest. Credit cards nowadays means you are traceable, and also creditable for extras like the mini bar which means reduced risk for the hotel. Using cash can be an indication that the money is not completely legal/untaxed and might actually force the hotel to do extra checks.
Same in NZ, I went there as a tourist (pre covid) and everyone pays for everything by card, even paying for a drink in a bar with cash seemed odd to them.
I love being in the left half "deadbeat" category. I never run my cards up and always pay them off. It makes me proud to know my credit company probably hates me and doesnt make a dime.
Its not an app, its a newsletter delivered direct to your email inbox. That being said, i subscribed to it when ordinary first shilled for it. Its not bad, its another take on the news i wouldn’t get from a bigger news outlet and thats always beneficial for being news-media-literate.
Proud owner of the title of "Deadbeat" for always paying my card off on time every month. Even more negative points because I pay in cash so often. Spend wisely gamers.
I'm in a pretty similar credit card situation, but I was duped into a semester of college before realizing I absolutely didn't need it. _Sooo_ glad I went to that "good" college that taught me almost nothing and put me 10k into the hole before I even turned 18.
@@baconsir1159 College is definitely not for everyone, and the sheer amount of marketing that "you have to go to college or else you'll be a homeless drug addict" which has ingrained itself into the public conscious of Americans is one of the biggest long cons ever. Universities of course wouldn't let anyone realize there are great alternatives such as taking up a trade or going to community college before transfering for a full degree to save a big chunk of change. Glad you realized it wasn't for you before you got any further down the debt hole.
@@Insky_ Fair enough, but as an American I can't speak for any other country than my own. I'd assume the situation is similar in most of the Western world but I don't have evidence to back it up.
I started my legal career in 2004. By 2007 I handled solely bankruptcy and SSA disability clients - it was disturbing how many bankruptcies I handled between 2007 and now. Many people are still greatly affected by the recession. It’s was traumatizing and horrid to watch these people suffer, but I did the best I could to try to ease their pain. I’m disgusted by the companies and political figures who contributed to that nightmare. People lost more than money and things due to it all… it was and will forever be heartbreaking to me.
And none of the people who were directly responsible for the recession went to jail apart from that one guy who became the scapegoat for the entirety of Wall Street and political class of the West. And it’s gonna happen again, and again, and again, the core of the system requires it to happen in cycles.
Hard agree, I think a large part of todays current homeless/mental health crisis is from yesteryears robbery of the life savings and security nets of millions of people. Some were able to recover, some were able to make it work and some were just barely able to survive.
When I turned 18 I got access to some money my grandad saved up for me. I was dumb and just got friends that were just like me. So I had fun with it, spunked it all away. I was scared to tell my mum how irresponsible I had been. I ended up breaking down and 'confessing.' She wasn't mad. She said I had learned a lesson, and that I had spent what I had and there was nothing left. Then she said: "only ever spend what you have, never get a credit card." In subsequent years I found out that after my parent's divorce she basically lived credit card to credit card, even borrowing money from friends, just to not let us notice that things were different at Christmas. She's now payed off a mortgage by herself.
@Aidan Collins You sound like a rather elitist "have", and out of touch with the reality of the "have-nots". Bold of you to assume I can afford a tv subscription and glorified afterpay when I'm living paycheck to paycheck. I don't have the savings after medical bills to pay towards a credit card. If I don't have the money in my pocket right now, I don't have the money to buy the thing. Also, buying a house and car is a scam fabricated by boomers to be "necessary" for "growing up". They're not. I'm renting & catch the bus, and I've not died from embarrassement yet.
I'm sure in your research you probably found this info but since it was a long vid it didn't make the cut, but I always found it crazy how banks used to set up tents at colleges and offer students free swag and gift cards to sandwich shops to get them to sign up for credit cards. It caused a lot of students to go into even more debt than they were already in because they didn't know any better and they got these cards and just thought they didn't have a set time frame to pay it back. Lots of interest that I'm sure parents had to bail their kids out of. (Just me simping for Ordinary Things) You're one of the few people on TH-cam still making great content and I thank you for it!!! :) I can't support you via Patreon because I have student loan debt but I don't skip your ads and I always share your vids with my friends and family.
Yep - at my school, it was a free Domino’s Pizza if you signed up for a credit card. In the whirlwind of orientation, clubs, frats, and freedom, they got a lot of students.
Banks are so eager to give you credit cards that a woman at one bank tried to convince me to sign-up for one while I was under age until I informed her I was only 16. I blatantly looked underage (there with my mother and everything) but it was only when I stopped her that she realised she was so desparate to get me on the debt train she didn't even stop to think I probably wasn't even old enough...
@@maskettaman1488 i think the idea is when you are drunk your impulse control goes with you so the presence of a credit card makes you have the ability to put yourself in debt then forget about it, although I do agree its just part abd parcel with the idiocy of alcohol consumption that happens in campuses
@@PixelLife101 literally been preaching the same things as he is now. are you perhaps just regurgitating some slogan you read on a political subreddit or facebook group? I would love to take back my words if you show me proof though, if you can find any
@An Equal to be fair multi billionaires are much more common these days and the amount of tax they pay is a joke. It’s like filling a bath tub from the ocean, they don’t even notice.
David Graeber's "Debt: the first 5000 years" is a great book on this topic, a history of economics basically. Till the 19th century, debt was actually the main way regular people traded between themselves. You would rarely pay with coin at the local grocers'. Direct barter, where you exchanged nails for goats would never happen. People just remembered who owed what and when the harvest came or you slaughtered a pig, you remembered to pay back that neighbor that gifted you a pair of boots that one time. Coin was only invented to pay taxes to a state, you would rarely use it in day to day life, and there wouldn't be enough metal to go around for daily transactions.
Yea it's pretty funny that educated capitalists think that people in feudal Europe(or any other time without money) would wake up every day and exchange some of their belongings or skills for bread and the whole economy was some fucking item-transaction circus.
I'm currently reading a history book on Persia and they are the ones that invented coins for exactly the reason you mention, to gather taxes from their people.
@@vizziiiiob I believe that to be a bit too idealistic and narrow to attribute that to only capitalists. I'm fairly certain most educated folks tend to believe the time prior to the industrial revolution consisted of plague, famine, filth, and disease with little economic activity outside of government transactions. Shoot, modern teachers focus solely on government transactions, not on day to day living, so that would color how folks view things.
I believe most education focuses on the large transactions, such as military or state activity, over small transactions. Hence, when you hear a king paid his soldiers in coins, you do not think twice about it. In such a manner, I believe most soldiers ended up struggling unless they found a wealthy merchant capable of translating the worthless coin into something more prudent such as food, land, or equipment.
You might be interested in doing a video on urban sprawl and car dependent infrastructure. It'd be perfect for your casually delivered horror stories of human design.
The Barbie girl classical music in the background made me laugh really hard, in fact the semi classical ambience to your videos provide a comfortable video to watch
Honestly ever since I paid off my student loans I've been vehemently against debt. While I'm still a bundle of anxiety I've become a much smaller bundle of anxiety. I don't think people realize just how emotionally crippling it is. Every job being the only thing between a person and homelessness because the collections people will come for them.
16:58, I think it’s important to note that American Express actually kicks you off if you miss too many payments. They make the majority of their money from annual card fees, not late fees.
I like how the voice over for his mid-video ad was not quite long enough. So, he slightly stretched it, so it would meet the time requirment in his contract, but also very slightly deepened his voice. Chef's kiss.
I hate how we’ve been repealing regulations passed after the great depression meant to prevent the rampant deregulation that caused the great depression. We faced economic prosperity following that period for half a century and like a dieter grabbing a donut because they’ve been good that week we’re weakening our institutions meant to guard against corruption and greed.
i don't believe the laws mentioned in this video repealed laws against mortgage backed securities or sub prime loans since those have been a thing for a long time. Also i'd hardly call the era between the 50-90's an era of prosperity as there had been many recessions between, declining purchasing power, and "wage stagnation". I'd probably change that window to the 70's to modern day as there is a stark difference between that time period and the period between the late 40's to late 60's.
But it was the regulations that started the financial crashes, especially the Great Depression, just to mention the tax tariffs that directly caused the stock market crash after the law was introduced in American Parliament. Great depressions followed an era of increasing governments oversight in the market, that continued to be passed in the USA and prolonged the depression well into WW II
As a kid I remember my parents filing for bankruptcy twice bc of credit cards, all the while crying and wondering what had happened. They tried to be careful but they kept getting caught in that debt cycle. It was so sad to see and as an adult I wish I could go back in time and tell them that they weren't stupod ir lazy, they were mislead ☹
That's the thing though, they were stupid. You pay it off in full. You don't buy what you can't afford. That isn't mislead (unless they were being charged fees not listed in which case they could sue)
I was linked to this video via Facebook Messenger, and I couldn't get it to actually load in TH-cam proper. Thought you should know~ I watched the whole video on there because it was so great.
Ty for teaming up with the internet historian. Otherwise I never would have found your channel. Funny vids presented in an informational way, commentary is relatable... I really like your channel. Time to watch every video you've posted lol The only TH-cam so far where I did t mind sitting through the paid promotion too. Keep it up!
I still cannot get my head around this as a central european. Everyone I know here saves money and unless you are poor (at which point you get financial aid), you only rly buy things with money you've saved, rather than go in debt and pay back the debt. Noteable exceptions are houses, but those work different, after you can already sell them back after 3-4 years.
The main source of it is education. Americans in poorer areas receive less education, less financial education, and less aid when it comes to income overall
@@larsonracies8636 Not just in poorer areas, but now there are acting lobbies attempting to lessen educational standards even further in all public schools, beginning in California within the last year. Aid isn't an issue as it is built on debt and interest, and government aid can't meet the costs associated with for profit colleges. It's easy to go to a trade school and come away in the green with no cash paid for a certificate (I did it twice using a combination of Hope and Georgia's Zell Miller Grant). In my mind, the terminal debt crisis begins with a lack of quality education on credit. I never learned any of what was in this video in public school, trade school, or college, but was instead fed over 100 credit hours working on my BA about cultural studies. Even after completing my B.A., I was left without any specialized knowledge which would help me get a job in my chosen profession, like software skills.
Is it bad that I'm focusing more on learning about your method of presentation and less on the actual topic of the subject? I really love how you explain everything in your own way.
You know how many people say “i love history” but don’t know anything like this. Or anything that happened with the culture industry overall. Hopefully your channel makes that type of information more important to learn to people. A shame people can sit around arguing about ideologies and propaganda when there is actual issues they should be avoiding. Cough cough credit cards etc
I had a buy now pay later ad on this video, run by Australias biggest bank. They're ditching credit cards and shifting into buy now, pay debt off continuously cards.
Bruv you know how much history there is? I’m sorry for being interested in certain things from the past but not knowing about the history of credit and it’s role in the fucking Roman empire
I harbor a fair amount of resentment over the fact that I've learned more about credit in the past 26 minutes than I ever did in 14 years of school and over 40 years of life.
@@muckymucks Schools can most definately be blamed as the education system focuses heavily on just memorising facts rather than actually teaching students practical skills or critical thinking.
@muckymucks That's a rather old school way of looking at education. No seriously education is a way of escaping generational poverty which won't be possible if the schools aren't responsible for teaching children.
Life Hack: open a credit card to pay only your pre-existing bills with. You’ll raise your credit, pay nothing extra, AND the bank hates you for it. It’s a win/win/win
I put just about everything on credit. Pay it off each month and collect my cash rewards. I then invest that free money. Anyone who isn't paycheck to paycheck should do this I think.
Very good video. Depressing as all fuck but that's why it's a very important topic to cover. Also very fun to see millennials going into their third "once in a lifetime" economic crisis.
The credit crunch hit simultaneously with my adolescence, it played a significant impact in my development. For instance, any word ending in the sound "-ebit" fills me with deep unease, a great sense of cringe and an accumulative murderous rage. It has made my career as a frog biologist incredibly difficult.
There is no channel that elicits a faster urgency in me to drop everything I'm doing in order to watch a new upload. That's you, dude. Your work is outstanding and it's doing a lot of good for the world in many different ways, primarily educationally. Thank you man
My friend told me he went to buy an advertised $3,000 couch with $3,000 in cash, and they refused him. They wanted him to take out financing so he would miss payments and they could make more money.
I still have yet to get a credit card and I’m quite upset that I will struggle in obtaining a car or a house- even though I have the necessary money in full. I simply want to avoid debt at all costs, given how it has harmed my family.
Basically you just have to get a car loan with the lowest interest rate you can get. Start shopping around your local credit unions and avoid the big banks.
If you're financially stable enough, there isn't much harm in using credit cards to pay for things that you already have the money for in order to build up credit, and then just paying off those cards right when you get home from shopping. The slippery slope is when you start using the card to pay for things you DON'T have the money for.
There are some companies that still under write for housing loans without credit established, just hard to find them and it’s a little more involved process. Used cars are just as reliable as new ones and if you can pay cash for most or all at even a dealership they will find a way to get you in a car with no credit
Not sure what country you live in but here in Australia not having a credit card really does not hurt your chances of obtaining a home loan as much as a stable income and solid deposit do. Best thing to do if actually serious is talk to a mortgage broker, who at least here, works with you seperate from the banks and gives real advice to what your buying power is.
Speaking from experience, the credit card won’t help you get the car. My family pushed me to get credit cards as I entered college so I could “start building my credit score” and then were shocked when it didn’t work like that. If you’re reliable with money and have what you need to buy what you need, all you should have to do is get someone with a good credit score to co-sign for you. Once you pay for whatever you’re buying it’ll boost your score and the person who signed will be off the hook too.
Dude seriously… I’ve been stuck in the hospital for 18 months taking care of my mom and your videos have given me some of the only smiles I’ve had in the past year and a half
You missed the fact that credit cards charge fees to merchants to accept them. This makes prices go up slightly for everyone. If visa and mastercard cost a merchant 2% of the sale price and Amex 3% you can bet that merchants charge at least 2% more to make up for processing fees!
@@dog-ez2nu no lol, also wasn't the crime bill in the 90s, but does it matters if all he does is talk and talk? How about he actually do something, at least Obama made same-sex marriage legal through the Supreme Court
I took a personal finance class in my first year in college, they told me that credit and a credit score is just an "I love debt" score. Since taking that class I've been hesitant on getting a credit card or accumulating credit. I know it'll be a bit harder for getting a mortgage later on, but I much rather have that then having to worry about paying more for things from interest and piling up debt.
The unfortunate bit about this is it’s a system designed as a feedback loop. If you don’t have a credit line, be it a personal or secured loan, or a credit card.. you will have no established history of debt servicing capability and as a result you will end up having much worse interest rates when you procure a line. And because employers also pull your credit score in backgrounds you have hurt yourself there too, because your score will be low as a result of not having a debt service history. For yourself and others reading Jose’s post please consider that it may be unintuitive but it will actually hurt you long term to avoid cards and debt instead of using a card for small things like to pay for gas every few weeks and paying it down regularly.
You're making it harder on yourself, literally get a credit card and just use it for purchases you already do with a debit card. Stick to your already defined budget and you'll never pay any interest. Done this for 6 years now with not a cent owed on interest and my aggregate credit score hovers around 790.
Credit scores aren’t based on how much you’re in debt. They are based on avg credit age, total amount of credit, credit usage, and payment history. You can easily get a good credit score by using one or two cards to buy you’re everyday stuff, paying it back at the end of the month, and continuing to do that for years. The earlier you start the more likely you are to have a good score when it comes time to buy a house. Just use it responsibly.
Your deep dives inspired me to create an entire channel about the 1995 cult classic Waterworld! And now I am almost at 1k subs! Thanks for showing me how create great long-form videos!
My younger brother was 4 years old in 2008 and at some point he overheard my dad talking about the "credit crunch", now dad's never let him live down that time he said "DAAD, I WANT A CREDIT CRUNCH" thinking it indeed was some sort of cereal or treat.
"Your credit card and mortgage control your life." "If you erase the debt record, then we all go back to zero. You'll create total chaos" Tyler Durden lol
If anyone plans to do this then I ask that you hold off until I've gotten a few loans to buy several mansions and luxury vehicles. Then you can go ahead and erase my debt 😝
Even with the mortgage and credit card debt erased, the US Dollar itself is leased by the Federal Reserve, a private corporation, which the United States has to pay back with interest. You don't un-rig the system by cleaning out a room. The whole house down to the foundation is rigged.
The Bernie Sanders clip is, to me, the most interesting part of this video. A lot of people were repeating "nobody saw it coming" but the reality is that they didn't like what the people who were right about it were saying (mostly because they were to the left of what the US political system tolerates), so a narrative was built around the inevitability of a problem that had a very clear way to be avoided. There's a reason even liberals jump on the Bernie-hating train. Both main US political parties are structurally incapable of accepting that capitalism has problems, so they will always fail to cover for them.
Hey, 18% was the interest rate on the Target credit card back when I worked there. I always HATED having to push that thing. Had one guy tell me he would rather burn in hell than apply for a Target credit card. I just laughed.
Thank you so much for all your hard work! Your videos make me feel at peace and distract me, and I didn't even realize how long this one was. You're informative, funny but not in a way that affects the information, and you don't use any filler. You're awesome, thank you again!
'Tis moments like these when I'm sad I can't sort YT comments by controversial. Great vid, thank you. If I ever become a parent I'll be showing your channel to my kids so that they know how the world's built
I took Business Studies for one of my GCSEs. One of my classmates was asked to explain what the credit crunch was and they legit thought it was a type of cereal
Thanks Morning Brew for filling my 🧠 on the daily - sign up for free here bit.ly/mbordinarythings
#hi
Do I get daily coffee
Love your videos
Man keep making this gold.
Honestly man sometimes I get really down, hard to laugh but I remember one time I saw one of your videos and I got a genuine laugh. And your stuff with internet historian lol.
Cheers brother
@@mewmewkissycutie1028 maybe
The acoustic rendition of “Barbie girl” is such a god damn genius addition with the layers of plastic metaphors on top of an episode about credit
Its fantastic
🤣🤣 as soon as I heard it, I searched the comments
Here's a link to the song if anyone is interested th-cam.com/video/YNm3Ggv01Ns/w-d-xo.html There are plenty of other Bardcore covers of many popular songs if this sort of thing takes your fancy.
Heard it immediately, and was singing to it in my head 😂
@@essee3222 turns my bank to plastic
The most mind blowing thing in this video was hearing the world "clout" in an old timey credit card commercial
For real I had to check the comments to make sure I wasn’t the only one thinking wtf
Same!
Wait, that was actually in the commercial? I thought he added it for a joke
damn i’d hate to be there when someone calls you an old timer when youre 40
Even back then people were chasing clout
“You carry clout” may be the best slogan I’ve ever heard 😂
How could I carry any debt when I’m carrying clout 😂
@@greendude0420 Statistically you have two arms so you could
Louis what are you doing over here. Go make videos
Sounds like a STD man my ex gave me clout. That was a rough month
@@skprog what are you: 40?
damn didnt know cameras at the mezapotamian times were that bad...
Yeah, and their wall manga fucking sucks too
Waiting for a woooosh
That's nuts how they had cameras to film all that back in Roman times, even if they were only in black & white.
I know right
lol u stoopid
they didn't call them cameras back then
they are Romans, ofc they have the technology
@@yoman9446 well the people drawing each frame of that anchent film would like to have a word with you
I'll admit, he had me for a second there.
I worked as a debt collector for a few years for one of the credit card companies you mentioned in this video and man it's terrible. Just about every collections department anywhere offers commission based on how much debt you collect so you're incentivized to treat every client as numbers instead of people. You mentioned in this video that most people rack up debt because of life's emergencies causing missed payments instead of reckless spending and you're 100% correct. Hearing stories about how loved ones died jobs were lost card members got cancer or other permanent illnesses and after all that you're expected to convince them to pay you money they don't have it's a sad industry.
“Hearing stories about how loved ones died jobs were lost…” did all that stuff happen or are you sure people wouldn’t just give any excuse to get out of paying debts?
@@BlackWolf207 Both some were definitely trying to avoid paying but many you can hear the genuine pain in their voice. Often we even had a department verify if the information was true.
Ahh jeez but i got in a car accident ahh jeez i spend money on deez pills man i cant pay 300 dollaz
So you made money off people exploited by massive banks. So sorry to hear your story.
@@Bushdid7eleven "Used to." Ye of little faith. Heh nah, I'm wondering what it takes for a person to work a job like that (even to start, much less carry on). I'm hoping they left that vampiric place and have been making up for their soft cannibalism.
...OP...?
Gold is the money for the kings
Silver is the money for the nobility
Copper is the money for the people
Debt is the money for the slaves
Nah it's Det wot other people owe me vs debt wot I owe other people
Dirt is the money for the worms
Bitcoin is the money for emperors
Dogecoin is money for the dogs
Gotta chase that clout!
Between you and the internet historian it's a rare treat when I get to see a new upload! Love your stuff!
Both are so awesome in their respective fields, love them
They know how to spin gold on TH-cam lol
@@mineno1fan right been a good week for uploads
In words of IH himself, “He doesn’t post on the main channel anymoooooore!”
Wait WHAT, IH UPLOAD?! I checked, no :(
I remember my grandfather telling me when he was on a business trip to US from Yugoslavia he stayed at a fancy hotel and paid in cash. They looked at him like he was a leper and avoided him like the plague. To make interactions with people easier he was practically forced to use credit card.
Wtf... XD
I live in the US and sometimes get that because I only pay with cash
Not surprising to be honest. Credit cards nowadays means you are traceable, and also creditable for extras like the mini bar which means reduced risk for the hotel. Using cash can be an indication that the money is not completely legal/untaxed and might actually force the hotel to do extra checks.
@@nenekotan hotel is basicaly a police/fbi branch with beds these days.
Same in NZ, I went there as a tourist (pre covid) and everyone pays for everything by card, even paying for a drink in a bar with cash seemed odd to them.
I legit can’t pay attention to this while “I’m a Barbie girl” is the fucking background music
Me either lmao
I thought I was the only one 🤦🏻♂️
Is this what true suffering feels like?
Im just singing the song in my head
First to say same cause I was also distracted, and wasn’t it like a medieval cover?
Pleasantly surprised with your rendition of "Ye Olde Barbie girl" as a historic backing track.
This is the good shit we keep coming back for
Came here to mention it lol
th-cam.com/video/YNm3Ggv01Ns/w-d-xo.html
I love being in the left half "deadbeat" category. I never run my cards up and always pay them off. It makes me proud to know my credit company probably hates me and doesnt make a dime.
If "Flick the bean into your morning routine" isn't Morning Brew's new catchphrase then I'm not downloading it.
*brewtine
It’s a clitorisk their willing to take.
Its not an app, its a newsletter delivered direct to your email inbox. That being said, i subscribed to it when ordinary first shilled for it. Its not bad, its another take on the news i wouldn’t get from a bigger news outlet and thats always beneficial for being news-media-literate.
But yeah, they need to make that their tag-line.
It was so funny I barely cared it was an ad. Not like that Internet Comment Etiquette dross.
Proud owner of the title of "Deadbeat" for always paying my card off on time every month. Even more negative points because I pay in cash so often. Spend wisely gamers.
I'm in a pretty similar credit card situation, but I was duped into a semester of college before realizing I absolutely didn't need it. _Sooo_ glad I went to that "good" college that taught me almost nothing and put me 10k into the hole before I even turned 18.
@@baconsir1159 College is definitely not for everyone, and the sheer amount of marketing that "you have to go to college or else you'll be a homeless drug addict" which has ingrained itself into the public conscious of Americans is one of the biggest long cons ever. Universities of course wouldn't let anyone realize there are great alternatives such as taking up a trade or going to community college before transfering for a full degree to save a big chunk of change. Glad you realized it wasn't for you before you got any further down the debt hole.
@@baconsir1159 go into trade, community college, computer science certs, engineering, or military. Way better than 98,000 dollars of debt and rising
@@Dapperganger the thing is, that consciousness is everywhere, not only in America...
@@Insky_ Fair enough, but as an American I can't speak for any other country than my own. I'd assume the situation is similar in most of the Western world but I don't have evidence to back it up.
I started my legal career in 2004. By 2007 I handled solely bankruptcy and SSA disability clients - it was disturbing how many bankruptcies I handled between 2007 and now. Many people are still greatly affected by the recession. It’s was traumatizing and horrid to watch these people suffer, but I did the best I could to try to ease their pain. I’m disgusted by the companies and political figures who contributed to that nightmare. People lost more than money and things due to it all… it was and will forever be heartbreaking to me.
And none of the people who were directly responsible for the recession went to jail apart from that one guy who became the scapegoat for the entirety of Wall Street and political class of the West. And it’s gonna happen again, and again, and again, the core of the system requires it to happen in cycles.
Hard agree, I think a large part of todays current homeless/mental health crisis is from yesteryears robbery of the life savings and security nets of millions of people. Some were able to recover, some were able to make it work and some were just barely able to survive.
The ending was really upsetting. Jesus christ.
same
Art imitates life.
Meh, I'm used to ordinary things giving me an existential crisis with most uploads by now.
So Andrew when is Ordinary Things coming on the Official Podcast to defend himself?
I guess there seems to be no good ending when it comes to credit cards
When I turned 18 I got access to some money my grandad saved up for me. I was dumb and just got friends that were just like me. So I had fun with it, spunked it all away. I was scared to tell my mum how irresponsible I had been. I ended up breaking down and 'confessing.' She wasn't mad. She said I had learned a lesson, and that I had spent what I had and there was nothing left. Then she said: "only ever spend what you have, never get a credit card." In subsequent years I found out that after my parent's divorce she basically lived credit card to credit card, even borrowing money from friends, just to not let us notice that things were different at Christmas. She's now payed off a mortgage by herself.
Ultra chad mom
@@captainanus8131
His mom has more balls than many a man.
@Aidan Collins Never.
@Aidan Collins I'd rather just pay for what I can afford thank you.
@Aidan Collins You sound like a rather elitist "have", and out of touch with the reality of the "have-nots". Bold of you to assume I can afford a tv subscription and glorified afterpay when I'm living paycheck to paycheck. I don't have the savings after medical bills to pay towards a credit card. If I don't have the money in my pocket right now, I don't have the money to buy the thing. Also, buying a house and car is a scam fabricated by boomers to be "necessary" for "growing up". They're not. I'm renting & catch the bus, and I've not died from embarrassement yet.
I'm sure in your research you probably found this info but since it was a long vid it didn't make the cut, but I always found it crazy how banks used to set up tents at colleges and offer students free swag and gift cards to sandwich shops to get them to sign up for credit cards. It caused a lot of students to go into even more debt than they were already in because they didn't know any better and they got these cards and just thought they didn't have a set time frame to pay it back. Lots of interest that I'm sure parents had to bail their kids out of.
(Just me simping for Ordinary Things) You're one of the few people on TH-cam still making great content and I thank you for it!!! :) I can't support you via Patreon because I have student loan debt but I don't skip your ads and I always share your vids with my friends and family.
Yep - at my school, it was a free Domino’s Pizza if you signed up for a credit card. In the whirlwind of orientation, clubs, frats, and freedom, they got a lot of students.
Banks are so eager to give you credit cards that a woman at one bank tried to convince me to sign-up for one while I was under age until I informed her I was only 16. I blatantly looked underage (there with my mother and everything) but it was only when I stopped her that she realised she was so desparate to get me on the debt train she didn't even stop to think I probably wasn't even old enough...
Simply signing up for a car made the students go in to debt? Not their reckless spending?
@@maskettaman1488 i think the idea is when you are drunk your impulse control goes with you so the presence of a credit card makes you have the ability to put yourself in debt then forget about it, although I do agree its just part abd parcel with the idiocy of alcohol consumption that happens in campuses
College students didn't know any better. Thats their own fault. Money management and interest needs to be taught in High School.
Damn, that Bernie clip. Regardless whether or not you agree/like him, that man has always been consistent
Well he was good but he's fully lost it to the far left
@@PixelLife101 He's literally the same as he's always been.
@@PixelLife101 literally been preaching the same things as he is now. are you perhaps just regurgitating some slogan you read on a political subreddit or facebook group? I would love to take back my words if you show me proof though, if you can find any
@hey it's pete imagine thinking wanting to improve quality of life as "shitty"
@An Equal to be fair multi billionaires are much more common these days and the amount of tax they pay is a joke. It’s like filling a bath tub from the ocean, they don’t even notice.
"He who controls the money supply of the world controls the world" - Fred Flintstone
BASED FRED?!
Wait, does fred even have money as a concept?
Daddy JPOW yess🗿🗿🗿
Indeed
“We buy things we don't need with money we don't have to impress people we don't like.”
― Dave Ramsey
isnt that a quote from fight club lol
thats a shit quote
@@chaosax0lotl How so?
@@email5023 someone that says “that’s a shit quote” is on baby step negative 5😂
That's fight club
David Graeber's "Debt: the first 5000 years" is a great book on this topic, a history of economics basically. Till the 19th century, debt was actually the main way regular people traded between themselves. You would rarely pay with coin at the local grocers'. Direct barter, where you exchanged nails for goats would never happen. People just remembered who owed what and when the harvest came or you slaughtered a pig, you remembered to pay back that neighbor that gifted you a pair of boots that one time. Coin was only invented to pay taxes to a state, you would rarely use it in day to day life, and there wouldn't be enough metal to go around for daily transactions.
King shit i love Graebar I need a copy of bullshit jobs
Yea it's pretty funny that educated capitalists think that people in feudal Europe(or any other time without money) would wake up every day and exchange some of their belongings or skills for bread and the whole economy was some fucking item-transaction circus.
I'm currently reading a history book on Persia and they are the ones that invented coins for exactly the reason you mention, to gather taxes from their people.
@@vizziiiiob I believe that to be a bit too idealistic and narrow to attribute that to only capitalists. I'm fairly certain most educated folks tend to believe the time prior to the industrial revolution consisted of plague, famine, filth, and disease with little economic activity outside of government transactions.
Shoot, modern teachers focus solely on government transactions, not on day to day living, so that would color how folks view things.
I believe most education focuses on the large transactions, such as military or state activity, over small transactions. Hence, when you hear a king paid his soldiers in coins, you do not think twice about it.
In such a manner, I believe most soldiers ended up struggling unless they found a wealthy merchant capable of translating the worthless coin into something more prudent such as food, land, or equipment.
Just now finished the video. What a great fkin episode my dude
It 26 min video but came out 21 minutes ago my TH-cam says... you're quick bro
@@mrhappy5695 papa flammy :)
it's papa flammy ayo
Got an ad for Citibank…irony
I enjoyed it too papa
I absolutely love the calming rendition of “Barbie girl” playing in the background
That was so distracting. Was singing along in my head :/
Right lmfao I’m like wtf
I was surprised how quickly I realized Barbie Girl was playing…
i was just about to comment that
I can't even concentrate on the video, barbie girl is just playing loudly in my head
“That’s when thing get a little staby”
Human history in a nutshell
Now things get shooty too
add nationalism and killing heretics, that about covers it.
@@hodarov1564 And zappy!
And just like that, the vikings found a civilized way to settle accounts... by stabbing each other on an island, one duel at time.
@sir Nikkel get the flamer, the heavy flamer
You might be interested in doing a video on urban sprawl and car dependent infrastructure. It'd be perfect for your casually delivered horror stories of human design.
I just want to say I like and appreciate seeing youtubers display and cite their sources.
Quite right, Sir. This avoids the temptation of anal elocution.
@@gregorymccoy6797 I like your funny words magic man.
But it’s true why do you need souses it isn’t Science it’s fact
Am I the only one who started singing come one barbie let's go party in their heads or is it just me?
Same! Haha
you mean out loud ? :D
unexpected M. Laser appearance!
Only so much that I couldn't follow what was being said and had to rewind
Me too bro
Love how those old credit card ads are basically just telling you to "treat yourself" as if it's not just your own money (+interest!) you're spending.
The Barbie girl classical music in the background made me laugh really hard, in fact the semi classical ambience to your videos provide a comfortable video to watch
Honestly ever since I paid off my student loans I've been vehemently against debt. While I'm still a bundle of anxiety I've become a much smaller bundle of anxiety. I don't think people realize just how emotionally crippling it is. Every job being the only thing between a person and homelessness because the collections people will come for them.
Remove debt
What is this "paying off" a student debt you speak about?
😉
Without debt you'd absolutely cripple the economy.
A job is usually what's keeping someone from being homeless, though.
@@dylanpresidafonseca2545 seems like a bad economy, If that's what we got!
16:58, I think it’s important to note that American Express actually kicks you off if you miss too many payments. They make the majority of their money from annual card fees, not late fees.
Remember, Debt almost kind of sounds like Death
Nah man you just wait 7 years
“What are they betting with”
“The only thing they have, years of service”
What is this from?
@@sunflower-Sept32022 Pirates of the Caribbean 2
We need episode on student debt. This was awesome
100%
I like how the voice over for his mid-video ad was not quite long enough. So, he slightly stretched it, so it would meet the time requirment in his contract, but also very slightly deepened his voice. Chef's kiss.
Oh is THAT why it was deeper? I thought there must have been something wrong with my speakers.
@@PenguinLord10 okay I thought I was going nuts when I noticed his voice going deeper. This explanation is hilarious and makes sense
I hate how we’ve been repealing regulations passed after the great depression meant to prevent the rampant deregulation that caused the great depression. We faced economic prosperity following that period for half a century and like a dieter grabbing a donut because they’ve been good that week we’re weakening our institutions meant to guard against corruption and greed.
"Look at how much money we're making!"
"Why are so many people homeless?"
"...Look at how much money we're making!"
‘We’ is politicians in the pockets of corporate donors, not the man on the street.
i don't believe the laws mentioned in this video repealed laws against mortgage backed securities or sub prime loans since those have been a thing for a long time. Also i'd hardly call the era between the 50-90's an era of prosperity as there had been many recessions between, declining purchasing power, and "wage stagnation". I'd probably change that window to the 70's to modern day as there is a stark difference between that time period and the period between the late 40's to late 60's.
But it was the regulations that started the financial crashes, especially the Great Depression, just to mention the tax tariffs that directly caused the stock market crash after the law was introduced in American Parliament.
Great depressions followed an era of increasing governments oversight in the market, that continued to be passed in the USA and prolonged the depression well into WW II
Not to mention, that the prosperity in the fifties you mentioned was proceeded by major DEREGULATIONS of the market.
Bro I can't believe that "Clout" commercial was actually real. That shit reads like straight up satire/parody. Great video as always 😁
As a kid I remember my parents filing for bankruptcy twice bc of credit cards, all the while crying and wondering what had happened. They tried to be careful but they kept getting caught in that debt cycle. It was so sad to see and as an adult I wish I could go back in time and tell them that they weren't stupod ir lazy, they were mislead ☹
That's the thing though, they were stupid. You pay it off in full. You don't buy what you can't afford. That isn't mislead (unless they were being charged fees not listed in which case they could sue)
Yeah they sound a bit “stupod” ngl
def. stupid ngl
Ahhh….the victim mentality! 😂
@@esmeecampbell7396then why does the system allow you to do so? This situation is fully expected by the banks, it's downright predatory
Master card really missed an opportunity
'MasterClout"
I was linked to this video via Facebook Messenger, and I couldn't get it to actually load in TH-cam proper. Thought you should know~ I watched the whole video on there because it was so great.
One of the most rewatchable youtubers has uploaded once again!
If Morning Brew doesn't adopt, "Flick the bean into your morning routine with Morning Brew" as their new slogan, they have no sense of marketing.
Ty for teaming up with the internet historian. Otherwise I never would have found your channel. Funny vids presented in an informational way, commentary is relatable... I really like your channel. Time to watch every video you've posted lol The only TH-cam so far where I did t mind sitting through the paid promotion too. Keep it up!
16:08 NGL, the one thing I didn't expect to do today was enjoy being called a "deadbeat", but in this context it feels surprisingly good.
I pride myself in being a "Deadbeat". :)
Ohhhh yeaahhhhh
I still cannot get my head around this as a central european. Everyone I know here saves money and unless you are poor (at which point you get financial aid), you only rly buy things with money you've saved, rather than go in debt and pay back the debt.
Noteable exceptions are houses, but those work different, after you can already sell them back after 3-4 years.
I understand what you mean. We still have a cash economy. Debit cards are more common than credit cards here.
Current economic order is built on top of Americans spending and then selling bonds of their economy to finance their spending hehehhee
@@anmolpatel793 A vicious cycle lol
The main source of it is education. Americans in poorer areas receive less education, less financial education, and less aid when it comes to income overall
@@larsonracies8636 Not just in poorer areas, but now there are acting lobbies attempting to lessen educational standards even further in all public schools, beginning in California within the last year. Aid isn't an issue as it is built on debt and interest, and government aid can't meet the costs associated with for profit colleges. It's easy to go to a trade school and come away in the green with no cash paid for a certificate (I did it twice using a combination of Hope and Georgia's Zell Miller Grant).
In my mind, the terminal debt crisis begins with a lack of quality education on credit. I never learned any of what was in this video in public school, trade school, or college, but was instead fed over 100 credit hours working on my BA about cultural studies. Even after completing my B.A., I was left without any specialized knowledge which would help me get a job in my chosen profession, like software skills.
Is it bad that I'm focusing more on learning about your method of presentation and less on the actual topic of the subject? I really love how you explain everything in your own way.
Yes
Uwu
Very bad
Perhaps you are turning in to a TH-camr.
You know how many people say “i love history” but don’t know anything like this. Or anything that happened with the culture industry overall. Hopefully your channel makes that type of information more important to learn to people. A shame people can sit around arguing about ideologies and propaganda when there is actual issues they should be avoiding. Cough cough credit cards etc
I had a buy now pay later ad on this video, run by Australias biggest bank. They're ditching credit cards and shifting into buy now, pay debt off continuously cards.
Bruv you know how much history there is? I’m sorry for being interested in certain things from the past but not knowing about the history of credit and it’s role in the fucking Roman empire
@@bimey386 you better be sorry mate
Well, politicians are in bed with the bloody bankers, so its kinda the same.
not that much new info. pretty much a basic intro to economics.
I harbor a fair amount of resentment over the fact that I've learned more about credit in the past 26 minutes than I ever did in 14 years of school and over 40 years of life.
Blame your parents, not the schools. Hell, blame yourself too; you have the world's knowledge in your pocket.
@@muckymucks Schools can most definately be blamed as the education system focuses heavily on just memorising facts rather than actually teaching students practical skills or critical thinking.
@@caldw615 Education begins and ends at home.
@muckymucks That's a rather old school way of looking at education.
No seriously education is a way of escaping generational poverty which won't be possible if the schools aren't responsible for teaching children.
@@justalostlocal Parents brought those hellspawns into the world; they should take responsibility for them.
1:22 - "Whose round it was". Lovely bit there!
Is... is that a harp cover of "I'm a Barbie Girl" in that first segment about Sumeria?
Sumeria, my favorite barbie girl.
I saw that too
Yes
Blyatuful innit fam
I’m not the only one
Life Hack: open a credit card to pay only your pre-existing bills with. You’ll raise your credit, pay nothing extra, AND the bank hates you for it. It’s a win/win/win
The problem, people don’t know how to do that. Generally
I put just about everything on credit. Pay it off each month and collect my cash rewards. I then invest that free money. Anyone who isn't paycheck to paycheck should do this I think.
@@heloo6101 it's not much, but it's free money for doing nothing. Just use credit instead of debit.
This. Only thing I use my card for is gas since I’m still living with my parents. Great way to build your credit if you have the self control.
Yep. That's why I have a credit card with auto-pay every month.
your videos are actually so well done and fascinating, thanks for providing such quality content
The only thing that isn't ordinary on this channel is the time between your uploads
Heyo!!!!!
I'd rather smash a 10/10 once every couple of months than a 1/10 every night.
also his hair
AMEN TO DAT
@@priestfultonjwingbajr1430 huh a-are you preaching in a TH-cam comment section
Sure is nice knowing that the nightmare that is credit scores is such a recent and entirely American thing.
It really isn't. You can read about credit issues other countries have faced, this video is just primarily focused on the US.
Barby Girl as an olden medieval tune is so good I NEED IT
Very good video. Depressing as all fuck but that's why it's a very important topic to cover.
Also very fun to see millennials going into their third "once in a lifetime" economic crisis.
A cartoon using someone’s withdrawals from literal caffeine addiction to represent not having enough money is only a little disconcerting.
0:58
Barbie Girl with medieval instrumentation: nice.
The credit crunch hit simultaneously with my adolescence, it played a significant impact in my development. For instance, any word ending in the sound "-ebit" fills me with deep unease, a great sense of cringe and an accumulative murderous rage. It has made my career as a frog biologist incredibly difficult.
Frog :D
@@isaachayman9231 Toad :3
In most cases, it wasn't the lending of money that was a crime, but the adding of interest.
@Top GIFs With Sound ok anti semite
Well that was quick. I've finished your entire catalogue. Looking forward to future content!
There is no channel that elicits a faster urgency in me to drop everything I'm doing in order to watch a new upload. That's you, dude.
Your work is outstanding and it's doing a lot of good for the world in many different ways, primarily educationally. Thank you man
@Will Gregg Ordinary Things this time!
Good lord, 100 years around and we're back where we started... oh yeah and I learnt something about debt, I think. Another terrific video, mate.
My friend told me he went to buy an advertised $3,000 couch with $3,000 in cash, and they refused him. They wanted him to take out financing so he would miss payments and they could make more money.
I still have yet to get a credit card and I’m quite upset that I will struggle in obtaining a car or a house- even though I have the necessary money in full. I simply want to avoid debt at all costs, given how it has harmed my family.
Basically you just have to get a car loan with the lowest interest rate you can get. Start shopping around your local credit unions and avoid the big banks.
If you're financially stable enough, there isn't much harm in using credit cards to pay for things that you already have the money for in order to build up credit, and then just paying off those cards right when you get home from shopping.
The slippery slope is when you start using the card to pay for things you DON'T have the money for.
There are some companies that still under write for housing loans without credit established, just hard to find them and it’s a little more involved process. Used cars are just as reliable as new ones and if you can pay cash for most or all at even a dealership they will find a way to get you in a car with no credit
Not sure what country you live in but here in Australia not having a credit card really does not hurt your chances of obtaining a home loan as much as a stable income and solid deposit do. Best thing to do if actually serious is talk to a mortgage broker, who at least here, works with you seperate from the banks and gives real advice to what your buying power is.
Speaking from experience, the credit card won’t help you get the car. My family pushed me to get credit cards as I entered college so I could “start building my credit score” and then were shocked when it didn’t work like that. If you’re reliable with money and have what you need to buy what you need, all you should have to do is get someone with a good credit score to co-sign for you. Once you pay for whatever you’re buying it’ll boost your score and the person who signed will be off the hook too.
So no one is gonna speak on the FIRE “Im a Barbie girl” song in the background?
Hahaha right? It was awesome
Hanky Panky
Sounded like a witcher soundtrack
I’m going through something rough rn and the discovery of your channel is a god send. Keep up the great content
RIP David Graeber. Such a great historian of debt. He really dove into a topic that no one had before.
Never have I ever been happier to be referred to as a "deadbeat"!
The banks can suck it; thanks for another educational and fun video!
Why does the barbie girl acoustic hit so hard
Shya, like I'd listen to Stede the Pirate about CREDIT cards!
yes
I'd prefer credit YARRS!
I will see myself to the gallows.
STEEEEEEEEEED
@@connormccarthy2745 crap, beat me to the punch!
Dude seriously… I’ve been stuck in the hospital for 18 months taking care of my mom and your videos have given me some of the only smiles I’ve had in the past year and a half
That’s crazy man, god bless you and your mother. Hope she pulls through.
Do u play guitars in hospital
You missed the fact that credit cards charge fees to merchants to accept them. This makes prices go up slightly for everyone. If visa and mastercard cost a merchant 2% of the sale price and Amex 3% you can bet that merchants charge at least 2% more to make up for processing fees!
That Mesopotamian remix of "I'm a barbie girl" is both hilarious and fits amazingly with the topic. Outstanding work on finding that
I can only imagine Gilgamesh listening to that banger while slaying monsters.
there's always a clip of bernie sanders, no matter what the issue, where he is right decades before anyone else in mainstream politics was
Sadly American politics is a giant reality tv show
So you are saying he is right about drones strikes? Awesome man 👍
@@evolution__snow6784 He was against them?
@@dog-ez2nu no lol, also wasn't the crime bill in the 90s, but does it matters if all he does is talk and talk? How about he actually do something, at least Obama made same-sex marriage legal through the Supreme Court
Fun fact: the “Bank of Italy” seen at 6:47 is still around today. These days we call it Bank of America, however.
I took a personal finance class in my first year in college, they told me that credit and a credit score is just an "I love debt" score. Since taking that class I've been hesitant on getting a credit card or accumulating credit. I know it'll be a bit harder for getting a mortgage later on, but I much rather have that then having to worry about paying more for things from interest and piling up debt.
Don’t ever get one trust me
Just underwrite the mortgage
The unfortunate bit about this is it’s a system designed as a feedback loop. If you don’t have a credit line, be it a personal or secured loan, or a credit card.. you will have no established history of debt servicing capability and as a result you will end up having much worse interest rates when you procure a line. And because employers also pull your credit score in backgrounds you have hurt yourself there too, because your score will be low as a result of not having a debt service history. For yourself and others reading Jose’s post please consider that it may be unintuitive but it will actually hurt you long term to avoid cards and debt instead of using a card for small things like to pay for gas every few weeks and paying it down regularly.
You're making it harder on yourself, literally get a credit card and just use it for purchases you already do with a debit card. Stick to your already defined budget and you'll never pay any interest. Done this for 6 years now with not a cent owed on interest and my aggregate credit score hovers around 790.
Credit scores aren’t based on how much you’re in debt. They are based on avg credit age, total amount of credit, credit usage, and payment history.
You can easily get a good credit score by using one or two cards to buy you’re everyday stuff, paying it back at the end of the month, and continuing to do that for years. The earlier you start the more likely you are to have a good score when it comes time to buy a house. Just use it responsibly.
Your deep dives inspired me to create an entire channel about the 1995 cult classic Waterworld! And now I am almost at 1k subs! Thanks for showing me how create great long-form videos!
i love how a instrumental of barbie girl is playing in the background, and then it turns into death metal when it gets into the dark era
Thank you ☝🏻💯✅
My younger brother was 4 years old in 2008 and at some point he overheard my dad talking about the "credit crunch", now dad's never let him live down that time he said "DAAD, I WANT A CREDIT CRUNCH" thinking it indeed was some sort of cereal or treat.
"Economic Meltdown" - is it covered with melted cheese or melted chocolate?😋😋
I hate to say I read "How credits control your world" and was confused how the end credits of a movie are enough to warrant such a title.
"While this was the worst event in human history SO FAR-" That... That hit close.
Yaaay, he’s back. I only started watching this channel a couple months ago, but I still love this channel
Make sure to watch him on Internet Historian's *Gentleman Pirate*
I love how you expose disgusting things in the most entertaining way
13:06 this ad can't be real 😭🤣😂🤣 honest advertising
I've been feeling the urge to just go live in the woods a lot lately.
Time to rent Into The Wild
And send pipe-bombs to random mailboxes?
Haven't seen you make a new video in a while. As a financial analyst by trade and a "deadbeat" rocking an 815, I loved every second of this.
That man with the small moustache had a lot to say about credit and who wields it. Even put some bankers in prison, as I recall
Not funny
@@thegameranch5935
No, it is very serious
Based and redpilled
"Your credit card and mortgage control your life."
"If you erase the debt record, then we all go back to zero. You'll create total chaos"
Tyler Durden
lol
If anyone plans to do this then I ask that you hold off until I've gotten a few loans to buy several mansions and luxury vehicles. Then you can go ahead and erase my debt 😝
lol
Even with the mortgage and credit card debt erased, the US Dollar itself is leased by the Federal Reserve, a private corporation, which the United States has to pay back with interest.
You don't un-rig the system by cleaning out a room. The whole house down to the foundation is rigged.
The Bernie Sanders clip is, to me, the most interesting part of this video. A lot of people were repeating "nobody saw it coming" but the reality is that they didn't like what the people who were right about it were saying (mostly because they were to the left of what the US political system tolerates), so a narrative was built around the inevitability of a problem that had a very clear way to be avoided. There's a reason even liberals jump on the Bernie-hating train. Both main US political parties are structurally incapable of accepting that capitalism has problems, so they will always fail to cover for them.
it always comes back to capitalism for people like you
Hey, 18% was the interest rate on the Target credit card back when I worked there.
I always HATED having to push that thing.
Had one guy tell me he would rather burn in hell than apply for a Target credit card. I just laughed.
Thank you so much for all your hard work! Your videos make me feel at peace and distract me, and I didn't even realize how long this one was. You're informative, funny but not in a way that affects the information, and you don't use any filler. You're awesome, thank you again!
'Tis moments like these when I'm sad I can't sort YT comments by controversial.
Great vid, thank you. If I ever become a parent I'll be showing your channel to my kids so that they know how the world's built
The barbie girl old timey insturmental fita just right in lmao
I took Business Studies for one of my GCSEs. One of my classmates was asked to explain what the credit crunch was and they legit thought it was a type of cereal
"the answer to the question, 'why is everything shite now?' "
I stole this for a presentation and got an A.
Thank you.