Bankruptcies Rising Around the World
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- čas přidán 5. 06. 2024
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Hey Patrick, did I see you in the overground by hackney wick/Homerton over the weekend? Wanted to stop and ask if you’d seen any wood nymphs
Yea ok, gotta admit, the workout cut aways in the suit made me laugh 😂
sorry but you prob never been to CN and talk like you know the same rules apply. There is a reason for all this harder process, with all the respect, try to get your western glasses off
Gracias Don Patricio!
@@havencat9337lol CN is a joke and only where it is today (still a 3rd world country) because everyone threw their money at it. Decades of mismanagement and corruption , and you still have shills going beyond the firewall to comment on CZcams?😂
I don’t know how but you’ve managed to package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thank you for your efforts to be the signal and not the noise. I understand that the economy is currently in a downturn and that we must wait for things to get better
As hard as it may sound you can plan for the recession. If you are working, find extra work and get an Invest--advisor. Protect your deposits by having enough cash in short term fixed income. Then cut your expenses. Minimal insurance, cut utilities.
I think the current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner
Even if you have a humongous income you still need to draw up futuristic plans because anything can happen. One could lose one's job or whatever. Investment cannot be overemphasized. About your advisor, how does one reach pls
I promptly did some research on Melissa’s past. She can control herself well. Her credentials are solid, and it seems like she was the subject of a careful examination. Foreign investors from countries other than the United States can also use her services
He explains like talking to children, and gives alot of information. However most people find this format boring.
The gym work in the suit has me dying 😆
Boyle is The City version of Bateman.
4:43
LOL
LOL me too!
Agreed. I usually forward over the ad parts, but today I watched it once I saw Patrick working out in a suit!
That's exactly how I imagined Patrick works out. Except maybe listening to some rap music with his headphones.
In his New Balance sneakers
Razzlekhan is on repeat during those workouts.
Yeah. I always imagined death metal to his workout music
Or some really fast deathcore
he's strictly old school patrick's OG
I expect to see Patrick get sponsored by a luxury resorts company so we can see him sunbathe in his suit in a tropical location sipping a Tiki drink. 🤣
04:45 some say that Patrick was born in that suit, and he even wears it to bed at night! Always looking pristine, of course!
There’s no suit. Only a very elaborate tattoo.
Thank gawd there's someone left with standards vs. leggings and Speedos.
@@jsivonenVR His birthday suit...
"You merely adopted the suit. I was born in it, molded by it. I didn't see casual clothes until I was already a man, by then it was nothing to me but tacky!”
Saving from employee expenses is ultimately a bad idea in the long run, since if every company is doing it, middle class suddenly stops spending money on goods and services. Lot of businesses seemed to have forgotten the simple fact that middle class wages don't go into tax havens, most of it goes straight back to the economy as people pay their rents and buy stuff from local grocery stores. When you take away the employees money, you basically take away the money of other businesses as well.
That's true if you don't export. Germany exports a lot, just to use one example. It's largely true in the US though.
@@pierrex3226China exports a lot too, but China is now primarily in trouble because CCP never truly improved the purchasing power of the chinese themselves. So now when their exports aren't working like they used to, their domestic market can't compensate for it either. The single most important aspect of economy for any country is domestic market first, then after that trade with neighbours. Global trade comes third.
Why did you feel the need to post this? You know we ALL know this right?
You’re describing “the paradox of thrift”.
@@jerbear7952apparently you’re too stupid to realize that most people don’t know much about most topics. This includes finance.
Provide tax heavens to the big corporations and force small business to comply with all sorts of unfair laws and regulations and youll witness how the middle class fades away
And have a populace where few vote and the ones that do are more concerned with culture wars than economic practicality
@@scootergirl3662 adding insult upon injury, the votes of the few are cast away in favour of the shadow voters who swing where they will.
Tax Haven
@@scootergirl3662 my mother in law is convinced the Ds help the little guy...she won't hear otherwise
This seems like a weirdly unnecessary whinge that doens't have any relevance to the video or even reality in most cases. Why are you watching a finance channel if you hate anyone with more money than you?
Patrick is the kind of guy that works out in a suit, sleeps in a suit, goes surfing in a suit, sky dives in a suit, and puts on his shower suit when taking baths.
reminds me of hitman 😮
He is Patrick...Patrick Boyle
He is a real life version of Barney Stinson
... Great lover in a suit too, I 'spect....
Little known Pat-fact when he takes off his suit...there's another suit
We gave life support to a lot of businesses during the COVID years. If you suddenly reduce/remove that and harden the conditions, you can expect more flatlining.
Not to mention what removing all that support did to all those fake companies that didn't really exist. Must really be hurting those lambo sales.
A lot of fraud occurred, too.
It's a healthy thing to prune the economy, but the fed propped up that economic waste.
@@Ned-bw5tt I get what you're saying, but at the same time, I'm not sure what they could've done differently. They did what they thought was the best thing they could legally accomplish, as quickly as possible, to try to get as many businesses to close their doors without going bankrupt as possible, because a fast shutdown was needed to try to stop the spread. Speed led to ability to abuse, but speed was also perceived to be necessary at the time.
Local businesses that were completely healthy for decades suddenly collapsed due to lockdowns. Not because of a virus that threatened a small segment of (elderly) economically unengaged consumers. Businesses collapsed because of illegal government dictates. The supply chain is still recovering.
Vaccine mandates deleted many top workers who took early retirement rather than submit to medical experimentation. Others quit after the government told them they were no longer "essential". The loss of so many linchpin contributors CRIPPLED our economic efficiency. Inflation isn't rising purely because of excess government spending. No, most of that money just flooded the stock market. Consumer prices are high in large part because key workers quit, leaving behind a bunch of kids with ridiculously high self esteem and no useful abilities.
As I was thinking "why would patrick promote a gym app?" he appears running and doing abs in his suit 😂 best commercial
I wish to do gym exercise with full suit on, once in my life, before I die. That is in my bucket list now. Thanks Patrick.
Don’t forget the post-workout steam room in a suit.
It sounds like a great time to be a corporate bankruptcy, restructuring, and acquisition lawyer for the foreseeable future.
Yes, the bankruptcy sector is a growth industry.
I think this is a wealth transfer era from the poor and middle class to the rich. Big companies are still doing well for themselves, its the small and mid range companies going down
Well observed. This has social implications too - seems like the research pretty strongly recognises a correlation between a growing personal wealth gap and increased crime, as well as rises in other non-desirable indicators such as teen pregnancy, vandalism, educational failure, political corruption etc?
(Makes sense - as you drastically reduce the level of engagement & self-efficacy most people are able to have within their economy and society, that's going to have negative knock-on effects...?)
I declare BANKRUPTCY!
did you declare it though?
@@nonefvnfvnjnjnjevjenjvonej3384 Pretty sure that is a reference to The Office.
@@menyo2874yes yes..
.... you can't just say the word and expect anything to happen!....
Such things shouldn’t be said openly in public.
Patrick working out while in his uniform, I mean his suit and tie, is so iconic!
Agreed. I was in stitches
Seeing Patrick workout at a gym while in a suit, presumably while listening to rap music, is exactly how I envisioned it.
Patrick is such a professional that he works out in his suits.
Patrick's coach report; Cycling - proficient, Running - more calf and less hips!?!
Here in Finland, construction companies are dropping like flies.
Same in Australia but it was inflation that got them, not interest rates.
In most European countries, due to inflation.
@@manhoosnickwhat are you doing?
Have some respect for yourself
And here we have @@manhoosnick, a Rita Rios Diaz, also known as a 🍭
We're not buying your onlyfans piss off
Absolutely love that little training montage where he's wearing a suit. Hilarious!
The quality on this channel is so consistently high. Thank you for what you do.
If Patrick even wears a suit in the gym, does that indicate that he wears a suit all the time? Are his pyjamas just a different suit?
No. His birthday suit was a suit. He was born that way 😅
Who said anything about a different suit? That’s just his skin.
Honestly apart from the tie a suit is essentially pajamas with a jacket that has lots of pockets that you aren't supposed to use.
I really don't understand how are unemployment rates still low historically. It's almost impossible to find work in my line of work.
I struggle to get just an internship, let alone an actual job. I swear the human world just keeps getting more and more dysfunctional with every second that passes.
Something else most people aren't aware of: Unemployment numbers only cover people who are actively seeking work. It doesn't factor for what's called "discouraged workers" who have stopped looking for employment altogether, nor does it count those who are out of the job market due to disability.
@@aaronbryan5095 "I swear the human world just keeps getting more and more dysfunctional with every second that passes."
If it makes you feel better, human society has always been dysfunctional. A brief foray into historical subjects will show you as much. It's not getting worse, it's just easier to see the scope of it nowadays with the Internet being what it is. Same shit, different era.
@@AngryReptileKeeper Yup, especially for the rest of the developing world, things have become better. It's noticeable. It's just emotionally hard-hitting when things get worse, while when things get better the good feelings are fleeting as standards get higher.
Working out in suit was such a flex.
Economics is just me praying that I can switch careers to something I’m actually interested in before a recession inevitably hits. 😢
It's already here. Sorry. Good Luck.
Facts. I’ve only just managed to get re-employed and I’m just hoping I can make enough to last me until I find something else down the line if this dries up
Hopefully flipping burgers is something you are actually interested in because it seems like that's where the job growth all is. It's definitely not in tech. It's already brutal out there unless you are at the very bottom of the job market looking for three part time fast food jobs - then it's great I guess.
And then, the industry that interests you is impacted by low business volumes and/or layoffs 😂😂😂😂
@@bubba99009being recession-proof depends where in tech you work (position and country)
If you don't know where in Tech the real wealth and growth lies, I cannot help you... you are helpess and on your own 😂
Was just wondering when my daily does of finance rap is coming 😂
czcams.com/video/d0nERTFo-Sk/video.htmlsi=8g0SNwVKUuNIkdo8&t=50 Thank me later
It's inevitable after a period of interest rates being essentially 0. It cost essentially nothing to borrow enough to get uneconomic businesses going, pay yourself salaries, and then refinance. The lower interest rates are, the more likely that dubious, non-economic companies, can get financing.
Not to mention all the money printing by usa and leeching on the future generation. And they live as if there won't be any comeuppance
"With all these bankruptcies,
who knew that my investment strategy of booze, coke, and hookers
..would be better than those of my smart friends, the ones who invested in the market".
Comedian Greg Giraldo
RIP
Classic! Lol
I work as an accountant in Denmark. And the rise in bankruptcies here has a lot to do with covid. The goverment put a lot of companies on life support, giving them loans and financial support. But they clawed back the money over the past years, and even fairly solid businesses suffered tremendously from the harsh clawback of goverment loans. So I don’t think this is going to be a sustained loss of business activity, but more og a culling of the herd here, where those who didn’t immediately go bankrupt at the end of covid payments, but who were limping on are being put down.
I have to say you playing a dangerous game to make a scapegoat without checking facts first.
No. You are wrong about covid because the stimulances were already planned in 2015
Another thing is that covid was already in the pipeline since it was discovered in 2000
And thirdly the state lose money on paramedic wages.
You work for a company and don't see what the bank is doing. What debts the state is making to stimulate the economy into a depression.
While I’ve found these videos immensely educational and enjoy them (and I know this isn’t necessarily the point of the Chanel but I do want to point it out) when discussing bankruptcies people do tend to forget about the people aspect of businesses: the workers with families and livelihoods that depend on their jobs. It’s jarring to hear that ‘efficiency is best’ when knowing that inefficiency keeps food on people’s tables
4:45 - Patrick is keeping standards high with the tie.
Can you do a video on Japan and how they’ve had negative rates, why, what’s that means for everyone else and with their rate hike how things are going to change for all stakeholders? Also can you specifically speak to Japanese ADR’s and how their value might be affected? Please 🙏🏻 thank you!
4:52 Didn't know that Hitman also uses his suit for workouts
Especially early stage tech companies. It is a freaking nuclear winter.
Leverage kills profitability. If you use other people’s money to run your business, most of the value is extracted and if a crisis hits, there is no substance to rely upon.
Lmao the crunches with the suit on
25 seconds in, i'm speculating that there were just a lot of startups in the prior years.
Every business is a start up at first...
@@jerbear7952 which is not the point of the comment. Let me simplify for you. "more businesses, more chances of any percentage failing."
Right, but the premise is that a bunch were kept alive beyond their time of viability.
@@Yawyna124 yeah the video made that clear to me. everything just tumbled down after the stimmulus checks dried up
It’s crazy what an increase in interest rates of 5% can have on the economy.
Exercising in a suit isn’t for everyone.?!
You’re a blessing in the sky. 😂😂
Thanks Patrick, for the excellent content..Appreciate the quality of information and detailed insights..
regards
Sulaiman Abdalla
Thanks!
At the same time i have heard that many Chinese have difficulty accessing their savings accounts or other deposits and are rejected in their orders to withdraw larger sums due to "safety concerns" maybe keeping chinese banks afloat at the expense of kreditors
Hi! One thing to mention about Sweden is that there are primarily companies with 0 employees that have been filing for bankruptcy. Companies within construction makes up a good chunk of these bankruptcies. As a result, when looking at the number of people affected by bankruptcies, it is not as alarming as the number of bankruptcies.
Ps: Thank you for always making such great content!
hiding massive gains with a suit bc you don't need to impress people
14:39 An excess of cheap energy, Europe would love to have that problem.
Where did you get your bankruptcy figures for Russia? Doubt that Russia is publishing that information in the West.
I think the definition of Zombie business is important. I've heard a unicorn chaser use a definition that basically includes all local and regional businesses. A 20 million dollar HVAC contractor that serves a few media markets and grows at 3 to 5% with a good year here and there and healthy margins is a fine business.
As remote as possible is how I like my personal trainer 😈
Canada going down the great debt crater with an "what the fuck, eh"
I think Canada numbers are as usa or worse
Everything becomes more and more centralized, until only a handful of corportations are left, that are owned by an even smaller handful of people.
All governments are ruled by a corporation of the wealthiest companies.
The state give money to employee.
The employee give money to bank.
The bank store reserves from the wages.
The reserves become investments.
Which is why the only way for reverse the wheel is the government increase their employees and increase their expenses.
love to watch Patrick Boyle doing gym - made my day
Patrick works out in a suit . . . lmao
If a firm is only viable in a near-zero interest rate environment, should it really be in business at all? These rates aren't extraordinarily high by historical standards (think about what Volker did in the 70s), and I think they highlight just how fragile many of these firms have become.
Here in Finland, construction companies are dropping like flies..
Construction is struggling everywhere.
@@ScubesFTW Yet, they are finally constructing everywhere.
Building office structures out of ice was never a good idea.
@@eddenoy321 totally valid business in a quarterly economy 😇
Do you know why?
Am I the only one that was expecting a reference to WeWork after he explained the concept of Zombie farms?
Most people dress down when they workout. Patrick puts on a tie to workout
The societal costs of allowing inept and corrupt governments that keep themselves in power by printing money and mis understanding why ballooning debt leads to fiscal crises.
Interest rate rise = bankruptcy rise. That's exactly what you get when you increase interest rates.
It needed or else we keep getting hyper inflation
Ah yes clear causation, I’m glad finance is so easy and clear cut
LOL yeah, especially the unprofitable companies, as it should be
It’s a tenuous situation.
Wait stop lololol that ad you're killing me ON THE BIKE RUNNING THE TRACK lol in your suit I love it, you're the best Patrick. "I love telling him I won't have access to the gym..."
I wonder if this will show a decrease in zombie companies overall then. One can hope at least.
Always learning, thank you Patrick.
y doesnt the government bail out the trucking logistic industry like they did for the banking sector in 2008? looks like bankers always win
If the banks didn’t get bailed out, industries like trucking would likely have failed… oh wait!
Thanks for this video❤
Thank you, Patrick. You avoided me another panic. So far.
I dont find comfort in "continued global economic growth". Cancer also has a tendency to grow perpetually despite various mechanisms meant to destroy it.
Thanks, Patrick. ❤
Thoroughly enjoyable video - PB pumping the pedals in suit & tie was the icing on the cake
To paraphrase W. Buffett, 'You never know who's swimming in the buff until the tide goes out.' ;-)
Very interesting, thanks for the info
Nice to see You again.
Haven’t been this early to a video! Thanks Patrick!
Excellent.
Thank you.
Now subscribed.
I love when the ads get more comments than the actual content.
Thank you for this great video: it helps me understand contemporary developments with great clarity!
3:25 “Every time you don’t tip, a child gets a mullet” - for the love of all that is holy, TIP! Never again….
i wanted to see at least 1 man in the world, in my life, that will do exercise in a suit, plus wear a suit everywhere, as if it's a video game skin, once in my life. i am him. thank you. im satisfied.
Thank you so much PBoyle
It’s P-boy.
Maybe Chinese are onto something detaining execs. The American system of "well we're bankrupt. Bonus please!" Is not a good one
sorry but PAtrik prob never been to CN and talks like you know the same rules apply. There is a reason for all this harder process, with all the respect, people should get their western glasses off, the same rules dont apply there. as a testament to that is the fact that the contry keeps growing despite bad press
FANTASTIC referrences intertwined in the video. I’m screen-shotting my ass off to learn and up my game. Thank you @PatrickBoyle
Cool to see an actual photo of Joseph Schumpeter
Thanks!
The increasing bankruptcies are an indicator of the cultural shift from growth management- to debt management. Both in the private citizen and the corporate sectors- the focus has shifted from ' wealth management' to debt worthiness. Debt worth is based on confidence not future productivity- 2007 reboot with 3 times more fall out and a vast shadow banking sector which self regulates ( or not) its now added to the equation.
Great video! Keep it up :)
Thanks for good job 👏
he works out in a suit !!!! at this rate I would not be surprised if they gave him one at birth
He actually came out wearing one. They're not actually suits but a type of skin. As he grows, every few days he has to hide in his bedroom, shed the "suit" he currently has and regrow a new one! #PatrickFact
When clapped in the arse instead of crying baby Patrick presented a formal complaint to the hospital HR office 🧑⚖️
Doing crunches in a suit 😂 love it
Try reading (or audiobook) ’These Are The Plunderers’. No additional explanation required.
Great work out shots :))
Great video as always.
Ultimately, only the viable survive.
This is a super important video. Amazing
Wot no premiere? I'll have to get by on just the rap news and Kevin O'Leary jokes.
Creditor protection, a winding-up OR a voluntary liquidation escrow. Liquidation escrow leads to an escrow arrangement, where the escrow agent is the appointed trustee that reorganizes the business ownership and assets, and ensures that the liabilities are addressed, such as legal liabilities that can carry over to the business being liquidated.
Love your exercise outfit Patrick!
Excellent video and analysis!
All is well!!!
Oh the copilot ad😂😂. Great video btw and quite timely. Patrick would you mind sharing what finance sources did you go to for this video?
Thanks Patrick!!
best ad ever! 🤣 next time you need to do bench in your suit!
My mans voice is fantastic, the cadence, the tonal pitch, it shows a mastery of the craft, its like music my ears
AHAHAHAHAHA genius marketing... wearing a suit on the GYM equipment caught my eye
Everything is fine Pat. Stocks only goes up !
At this point I'm convinced the suit is part of his body