Please dont go around the brushes. Tell us all straight forward what big troubles usa has..if not usa government, will not face shut down.......???????
Lol, yeah pretty much. Marxist theory states that at some point workers on the lower end of the economic spectrum won't be able to afford the same goods they produce, and how wage suppression won't be able to keep pace with inflation. Taking a look around the world, housing isn't affordable for many and the cost of necessities is going up. We're reaching that stage of ultimate fuckery. On a side note, wages are going up for some, but they still can't make ends meet because of rich people's inflation.
Thank you. A key aim of ours is to help people have a greater understanding of what is involved in trading and investing so they can then hopefully make better decisions. So it's nice to hear this.
Why are so many people, businesses, and governments so surprised by the U.S. Dollar's decline in value? That scenario is not some premonition that an individual person had. It is basic math and basic economics of excessive spending over long periods of long time.
It would be good if we were looking for alternatives that could avoid these problems such as debt. The Jews, for example, had a wonderful system called Schimatta where the debt was repeatedly reset to 0.
Imagine operating under a monetary system where everyone at the same time take real produced wealth, which required both time and energy to produce, with IOU, which doesn’t represent time nor energy currency. Do you call this money?
Interesting. I always wondered who all this debt is actually owed to. So if all books were balanced today and all debts paid back, would that mean creditors like Japan and Germany would be the richest nations, and USA the poorest? I suspect it's more complicated than that. What actually happens when this supposed "collapse" occurs? Because all the people and factories and technologies and infrastructure will all still remain in place. So would society not just continue to function? Money feels like a twisted veil distorting reality sometimes.
That is 600 billion for every State. They do not produce that kind of money on every State and the ones that produce to repay 600 billion can not pay for the other States. So where's the Federal bank and why they keep printing dollars that will buy your country.
the video seemed stark in beginning the very last 30 seconds things will probably be alright we are prepared.... they keep talking about 2008 as if that was the only time in history we had a historical downturn 1920 rhymes with 2023 more then 2008
Hey Chantelle, of course you are right. Debt is never a "good" thing. But when interest rates, which have been so low for so long (until very recently), debt has been a lot easier to manage. Many economists argue, for example, that austerity measures (which aim to bring debt down) can shrink economies further and hurt societies. It's definitely a tricky balance.
Seems US has no worry. Why worry? President Biden sees the opportunity. No matter how much they owe, they can keep on printing trillions. So many times I see news that US need to repay the interest alone which they can't pay, but, suddenly, it becomes OK again.
Always amazes me how some people get their degrees and even teach. At 1:56 Richard Wolff, Prof of Economics University of Mass Amherst uttered a completely false statement, at least regarding the United States and the reason why the US Federal Reserve sells T-Bills annually. And if anyone were to believe this video, they might think the end of the world was around the corner. I don't know the purpose why this video was created and when because there is a curious mix of ancient, old and current data in this video which means a lot of what is said in one part of the video doesn't match what is elsewhere... For example it estimates the debt to GDP ratio as 124% in one part but then quotes the current National Debt as almost $32T but if you compare that to the estimated national GDP of about $22T... Well, you can see the math isn't there. It also suggests that China has very low debt which is outrageously funny and widely known to be false since it's one of China's main difficulties for several years now... Ranging from the infamous RE Development company defaults especially of foreign denominated debt and a complete reinspection and re-evaluation whether anything really is making money in China or if it's all an illusion based on vast amounts of unpublicized debt. But regarding this video's main theme which is to attack the US economy and its use of debt, there are numerous faulty analysis and some commonly argued. One is that the amount of the US National Debt is enormous and a burden. The US can voluntarily assume an unprecedented amount of debt because the size of the US economy is also unprecedented. At no point in the history of humanity has there been an economy as large and productive as the US, and by almost any measurement. The US leads in practically every technological aspect and in the value of what is manufactured. Although the economy has transitioned from industrial manufacturing to mostly service based, the US is still able to make things that are unmatched in the world, just maybe not so much in volume like what China was doing pre-Pandemic. It's a fallacy to think that debt is bad. It's common business sense to know that even if not needed, assuming a little bit of debt to stimulate activity is better than operating on a cash only basis and the same principle in this case applies to macroeconomics. And as long as there are ready and eager buyers of US debt because there is no way of storing currency value than the Dollar, the US sells out its annual inventory of new T-Bills every year at very low interest rates. speaking of which, this is where Prof Wolff is completely wrong because the US does not assume debt to pay for things it can't afford, it's done simply to roll over the debt obligation for what was spent for some purpose years ago. So for instance, the National Debt prior to the Pandemic really was slightly over 200%, approx $19T but has ballooned to $31T due to Pandemic relief spent to ensure businesses and individuals didn't collapse during the Pandemic economic slowdown. The current annual debt obligation is still approx only about 12$ of national GDP so can be paid down if the Federal Reserve and Congress wish to do so, but as long as there are willing buyers of US T-bills, the Federal Reserve also has the option to simply roll over the debt into the future. So, the US economy is not in any way around the corner from economic disaster. There are options and one option for the time being is to not pay for the new recent expenses related to getting through the Pandemic. But touching briefly on the plight of other countries, only governments that manage their economies well gain the confidence of those with money and want to buy government debt. Buyers of debt would probably be reluctant to buy Russian, Chinese, Sri Lankan, Pakistani or Turkish debt for example because those countries are experiencing serious economic difficulties and might default on repaying any debt. Large parts of the rest of the world may not fix their economic problems and could even default on their current outstanding obligations much less make payments on any new debt. And so, Prof Wolff is probably wrong here again that countries that are having difficulties will not find that issuing more debt is a solution to their problems.
Trio I nəsə smeta sə smeta biloni 5.biloni sə moh na 100 000 bitostialni. Dostignayvana od . Prilehaheto niz celiot svet so pomesteno 5 vlakna na glata
We are all concern on usa , about 100 trillions very hugh debts, and usa government shut down soon. We are not worry about others at all...only usa is our world mean worrys...??? As all nations got funds in usa$$$$????????? That is why all are so worry for usa.... .the financial healths of usa... If usa got no problems the government will not has to face shut downn.... so please tell us straight forward what actually gone wrong with usa..???? Please dont go round the brushes....? Or is there some bad things about usa.......???
No, you don't know how debt works. National debt is two things : private and public debt, they have same source of issuer, the banks. The banks can lends out money to any country in the world. If every country have national debt, that doesn't mean the debt is gone because they didn't borrow from other government, instead they borrow from the banks that separately operate from government. Why? Because banks can print money but can not spend in real economy, but the government can spend in real economy but can not print money, so they borrow from the banks to spend it to real economy and pump up GDP.
It is all these debt that inflates the economy like bubbles.
This time for sure! Bro, the only thing more tiresome than hearing about the debt is 20 years of endless doomsday predictions about it...
These cycles take place on larger timeframes than 20 years
Please dont go around the brushes. Tell us all straight forward what big troubles usa has..if not usa government, will not face shut down.......???????
@@awjames1121 No, dont shut it down. Please, dont, stop...
Your worries are over sir 😊 by summer of 2023, everyone will hear the announcement of a total government shutdown 🎉🎉🎉👍🏼👍🏼👍🏼👍🏼
@@awjames1121 remember China CCP will be collapsed and mostly shrinking population long before the USA starts to dump a crash
Some day the debt collectors will come knocking and when no one answers they will know the end is nigh.
Lol, yeah pretty much. Marxist theory states that at some point workers on the lower end of the economic spectrum won't be able to afford the same goods they produce, and how wage suppression won't be able to keep pace with inflation. Taking a look around the world, housing isn't affordable for many and the cost of necessities is going up. We're reaching that stage of ultimate fuckery. On a side note, wages are going up for some, but they still can't make ends meet because of rich people's inflation.
This is going to break the USA and political leaders.
You are so different from other brockers.. Because of your education and fundmental support to the retail traders.. It will increase your bussiness
Thank you. A key aim of ours is to help people have a greater understanding of what is involved in trading and investing so they can then hopefully make better decisions. So it's nice to hear this.
@@Capitaltrading keep it up👍🏻
The trade system must change, from single market too free market or free trade area. This is one way, insyaallah, wallohu a'lam bissahwab
A workshop has the inventors and those that build stuff. But nothing would be possible without materials and energy. So who's really in charge?
money isnt destroyed it just changes hands some are left with more money and some are left with less money
Why are so many people, businesses, and governments so surprised by the U.S. Dollar's decline in value? That scenario is not some premonition that an individual person had. It is basic math and basic economics of excessive spending over long periods of long time.
This riba system make state and people more more lost money, and more poor, unprosperity life. We must change this system.
Have someone re-write your thoughts.
First focus on your grammar
It would be good if we were looking for alternatives that could avoid these problems such as debt. The Jews, for example, had a wonderful system called Schimatta where the debt was repeatedly reset to 0.
Hi Krita, this sounds really interesting. We will definitely explore this. Do you mean Shemitah? Presumably there are various spellings of this?
Ya we use to do that and called it Jubilee every 7 to 10 years when it was used it worked great for everyone. But not doing so works better for a few.
Who do we owe this money ultimately ? Just ourself ?
Imagine operating under a monetary system where everyone at the same time take real produced wealth, which required both time and energy to produce, with IOU, which doesn’t represent time nor energy currency.
Do you call this money?
Capital to globepay withdrawal problem
Interesting. I always wondered who all this debt is actually owed to. So if all books were balanced today and all debts paid back, would that mean creditors like Japan and Germany would be the richest nations, and USA the poorest? I suspect it's more complicated than that.
What actually happens when this supposed "collapse" occurs? Because all the people and factories and technologies and infrastructure will all still remain in place. So would society not just continue to function? Money feels like a twisted veil distorting reality sometimes.
That is 600 billion for every State. They do not produce that kind of money on every State and the ones that produce to repay 600 billion can not pay for the other States. So where's the Federal bank and why they keep printing dollars that will buy your country.
“No Globe” 🌎…..”No Debt”👍
What is that supposed to mean?
The borrow is servant to the lender.
It looks like there are trying to make fun of the situation while sounding serious at the same time
the video seemed stark in beginning the very last 30 seconds things will probably be alright we are prepared.... they keep talking about 2008 as if that was the only time in history we had a historical downturn 1920 rhymes with 2023 more then 2008
I hate it when institutions say having debt is good. Debt is bad and forever will be bad
Hey Chantelle, of course you are right. Debt is never a "good" thing. But when interest rates, which have been so low for so long (until very recently), debt has been a lot easier to manage. Many economists argue, for example, that austerity measures (which aim to bring debt down) can shrink economies further and hurt societies. It's definitely a tricky balance.
Seems US has no worry. Why worry? President Biden sees the opportunity.
No matter how much they owe, they can keep on printing trillions. So many times I see news that US need to repay the interest alone which they can't pay, but, suddenly, it becomes OK again.
Global debt to whom?
We need one value, one currency in this world, gold silver currency system, to stop raising cost living and the commodty price.
Always amazes me how some people get their degrees and even teach.
At 1:56 Richard Wolff, Prof of Economics University of Mass Amherst uttered a completely false statement, at least regarding the United States and the reason why the US Federal Reserve sells T-Bills annually.
And if anyone were to believe this video, they might think the end of the world was around the corner.
I don't know the purpose why this video was created and when because there is a curious mix of ancient, old and current data in this video which means a lot of what is said in one part of the video doesn't match what is elsewhere... For example it estimates the debt to GDP ratio as 124% in one part but then quotes the current National Debt as almost $32T but if you compare that to the estimated national GDP of about $22T... Well, you can see the math isn't there.
It also suggests that China has very low debt which is outrageously funny and widely known to be false since it's one of China's main difficulties for several years now... Ranging from the infamous RE Development company defaults especially of foreign denominated debt and a complete reinspection and re-evaluation whether anything really is making money in China or if it's all an illusion based on vast amounts of unpublicized debt.
But regarding this video's main theme which is to attack the US economy and its use of debt, there are numerous faulty analysis and some commonly argued. One is that the amount of the US National Debt is enormous and a burden. The US can voluntarily assume an unprecedented amount of debt because the size of the US economy is also unprecedented. At no point in the history of humanity has there been an economy as large and productive as the US, and by almost any measurement. The US leads in practically every technological aspect and in the value of what is manufactured. Although the economy has transitioned from industrial manufacturing to mostly service based, the US is still able to make things that are unmatched in the world, just maybe not so much in volume like what China was doing pre-Pandemic.
It's a fallacy to think that debt is bad. It's common business sense to know that even if not needed, assuming a little bit of debt to stimulate activity is better than operating on a cash only basis and the same principle in this case applies to macroeconomics. And as long as there are ready and eager buyers of US debt because there is no way of storing currency value than the Dollar, the US sells out its annual inventory of new T-Bills every year at very low interest rates. speaking of which, this is where Prof Wolff is completely wrong because the US does not assume debt to pay for things it can't afford, it's done simply to roll over the debt obligation for what was spent for some purpose years ago. So for instance, the National Debt prior to the Pandemic really was slightly over 200%, approx $19T but has ballooned to $31T due to Pandemic relief spent to ensure businesses and individuals didn't collapse during the Pandemic economic slowdown. The current annual debt obligation is still approx only about 12$ of national GDP so can be paid down if the Federal Reserve and Congress wish to do so, but as long as there are willing buyers of US T-bills, the Federal Reserve also has the option to simply roll over the debt into the future.
So, the US economy is not in any way around the corner from economic disaster. There are options and one option for the time being is to not pay for the new recent expenses related to getting through the Pandemic.
But touching briefly on the plight of other countries, only governments that manage their economies well gain the confidence of those with money and want to buy government debt. Buyers of debt would probably be reluctant to buy Russian, Chinese, Sri Lankan, Pakistani or Turkish debt for example because those countries are experiencing serious economic difficulties and might default on repaying any debt. Large parts of the rest of the world may not fix their economic problems and could even default on their current outstanding obligations much less make payments on any new debt. And so, Prof Wolff is probably wrong here again that countries that are having difficulties will not find that issuing more debt is a solution to their problems.
An organized "thinker" can express a point of view or opinion in less than 200 words
Where is David Jones
Hey, David has moved on to new pastures. We miss him too!
He's in that locker....way down deep.
Who is going to toll the bell we the bell we the people must be theee ones. To right this wrong
Would've been nice to include a bit more modern science in form of the MMT.
Public debt is always a bad thing, because of human nature and politicians.
Debt to who?
When you shorting till they print money 😎
Hi Offnight. Certainly, one of the advantages of trading is "going short".
Kein Problem. Die vielen Nullen sind noch lesbar. Macht weiter so. ch fuehle mich noch reich, im Moment.
As long the riches collecting all the money the goverments have to borrow. Anybody who knows how a balance sheet works should see this.
Thanks Flo. Appreciate your comment.
Excellently produced video. Very well made and enjoyable.
Thank you very much :)
I believe the Bank Of Japan will be the black swan. The thing is the boy that cried wolf eventually got eaten by the wolf. That could be 2023
Trio I nəsə smeta sə smeta biloni 5.biloni sə moh na 100 000 bitostialni. Dostignayvana od . Prilehaheto niz celiot svet so pomesteno 5 vlakna na glata
If you repeat 33 years every day you will be right for one day
print money
America should contact Ghana's finance minister Ofori Atta for directions as how to quote the Holy bible to wish away the debt.
The riba system and gambling system and tax system is unfair system, this is psikopat system. We must eradicate this system.
Absolutely.... 👍👍👍👍👍
We are all concern on usa , about 100 trillions very hugh debts, and usa government shut down soon.
We are not worry about others at all...only usa is our world mean worrys...??? As all nations got funds in usa$$$$?????????
That is why all are so worry for usa....
.the financial healths of usa...
If usa got no problems the government will not has to face shut downn....
so please tell us straight forward what actually gone wrong with usa..????
Please dont go round the brushes....? Or is there some bad things about usa.......???
Didn't realise benedict cumberbatch was narrating
why us are allowed to borrow huge amount they cannot pay
Elenas pudimos
*Nicolae Ceaușescu has entered the chat*
if all countries are in debt then no one is
@@thetruth9210 then explain, why does it matter if everyone has it
No, you don't know how debt works. National debt is two things : private and public debt, they have same source of issuer, the banks. The banks can lends out money to any country in the world. If every country have national debt, that doesn't mean the debt is gone because they didn't borrow from other government, instead they borrow from the banks that separately operate from government. Why? Because banks can print money but can not spend in real economy, but the government can spend in real economy but can not print money, so they borrow from the banks to spend it to real economy and pump up GDP.
@@gold_real_money yea but the gov doesn't have to pay it back because they are in charge.
@@DiceDecides if the gov not payback, it's the low middle class who will suffer, inflation
Yawns, As usual, The sKy Is Falling.. As usual. Crisis ?? I am not having a crisis...🤣🤣🤣🤣
Main reason for all debt in the world: Fractional Reserve Banking.
Just blame on Cov19 lock down. Problem solved 😂
Fitiajies
On course Zero real steak pop grow print berrow dunedrefshores
Bitcoin is the only solution
Bitcoin plummeted when worldwide inflation came
@@eliashardy9528 agreed but bitcoin will explode when the global debt crises will deepen
@@nkak47 there will no global debt crisis come cause this time its the states that own money and not private debtors.
@@nkak47 ..Anything that "EXPLODES" results in it's and pieces of trash
9:13 - swear to Krishna that theyre using a rip off of the xmen cartoon music!