WTF is Wrong with the Economy?
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- čas přidán 30. 06. 2024
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Bibliography:
The Economics of Discontent by Jean Michel Paul
Basic Economics by Thomas Sowell
The Great Wave by David Hackett Fischer
Secular Cycles by Peter Turchin
Ages of Discord by Peter Turchin
Capital by Thomas Picketty
Why Nations Fail by Robinson and Acemoglu
False Economy by Alan Beattie
Bullshit Jobs by David Graeber
Crashed by Adam Tooze
The Road to Serfdom by Hayek
The Rise and Fall of Nations by Ruchir Sharma
The Growth Delusion by David Pilling
The Great Leveler by Walter Scheidel
End Times by Peter Turchin
The Leviathan and Its Enemies by Sam Francis
The Origins of Woke by Richard Hanania
The Absent Superpower by Peter Zeihan
Political Order and Political Decay by Francis Fukuyama
The Storm before the Calm by George Friedman
The Soul of France pt 1 by Fernand Braudel
Lost Connections by Johann Hari
The Master and His Emissary by Ian McGhilchrist
Homo Deus by Yuval Noah Harari
Sapiens by Yuval Noah Harari
The Moral Animal by Robert Wright
The Naked Ape by Desmond Morris
War, What is it Good for by Ian Morris - Zábava
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Do you think that the whole maybe not really science but calling it that may have started or at least was impacted by the whole Galileo thing
OMFG TY! An elderly woman just broke down crying in the store because they raised her rent so high and didn't raise her SSN so she cannot afford food. The store manager gave her a full basket of food for free...
Outside the Anglo-Saxon sphere every country knows that there is a civilizational collapse going on in the West. In France where intellectuals don't wait for a subject to be declared officially not a conspiracy to study it, collapsology is a scientific branch of economics and sociology.
Popular academic authors on collapsology are Pablo Servigne or Jean-Marc Jancovici. Some of their books have been translated in English.
The concept is simple : the thermo-industrial civilization born from the industrial revolution is unsustainable and since we overshoot global pick oil in 2008, we are livin a slow motion collapse of a magnitude mankind has never met before.
There is more that the collapse though: the international financial system being based on the petro--dollar system, the financial world elite made a global coup d'état in order to safeguard their class interests at the expense of the rest of mankind they intend to reduce drastically and to maintain under a totalitarian digital control.
All the demoralising narratives we are submerged with are pure psy-ops and are part of that project.
Whatifalthist you are my god you word is holy and Devine I watching everything and I want you to form a religion for me please
SCROLL DOWN (AND UP 2) TO SEE PATHETIC NEO-COMMIE TRASH-POSTING THAT HAS ABSOLUTELY NOTHING TO DO WITH ANY OF THE INFORMATION IN THE VID AND THE POINTS MADE.
LEFTISTS HAVE NO OTHER WAY OF SPEAKING AT EVERYONE THEY HATE.... AND THEY HATE EVERYONE.
In the 80's and 90's Al Bundy and Homer Simpson were considered loosers. They had a stay at home wife, multiple kids, owned a house and a car, on a single salary.
Today they would be considered to have been successful.
That is how the economy is doing.
Frank Grimes episode was a secret halloween special. Grimey is actually born in 2007 during Motion picture, lived outside of Springfield and its floating timeline regular zoomer life, got used to doomer realities, travels back in time, but his life remains that of a zoomer adult despite landing in the 90's. Hence he just can't accept "ordinary" Springfield life and Homer's lifestyle and why everyone doesn't get his frustration. He has seen where it leads to, he has been robbed of such life, he sees those happy folk of the past and as if in the nightmare, they don't hear him.
First we do not know if either family owned their houses straight out or if they have a mortgage. We do know the Bundy home is built on a former native American landfill. We also know they have the same shit box dodge for the whole series.
The same applies to Herman Munster from the Munsters.
@stephennootens916 Whether they owned the house or had a mortgage is irrelevant. They had a house that they could have a family in that wasn't rented.
@@d3faulted2 I want to note that this is whole thing is silly given that we are talking about fictional families who given how broke they are most likely would not have a home in real life. To go on with this note we can also he the Gallaghers from shameless have home and given the father is an unemployed drunk and the oldest daughter jumps from one minum wage job to another they too shouldn't have a home. This is the up side of being a fictional family written for a
Americans to watch. Shows do note get the true reality of lower class living ever.
"Nothing. Nothing is wrong with the economy. Line Go Up. Stop complaining. Stop whining. Stop quiet quitting. Just make money harder. Stop noticing things.
Just Say 'No' to Noticing."
- Prosperity, Inc (with the endorsement of the Ministry of Truth)
...Holy sh!t I love Big Brother now, wth.
Do NOT look at living standards!! If you ask questions you will NOT get laid!!
“I have urged our fellow Americans to go about their lives, to fly on airplanes, to travel, to go to work, and to go shopping.”
-George Bush (After 9/11)
The only things wrong is home purchase price.
3:20 you consider 95 IQ stupid.
Wait until the subsaharan migrants with average 70IQ arrive. 😂😂
After investing from my salary of 350k for 4 years, I've only made about 8% total, or 2% per year, which my friends say is very low. My employer 401k of $220K returns about 4%. What would you advice to do with my portfolio for improved returns?
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I don.t really know your risk tolerance or asset allocation, sounds like just bad stock picking. Also unclear if you have an advisor providing value via financial planning or other decision making. But likely scenario is just bad stock picks. Index funds, Etfs and chill.
The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 330% since covid-outbreak to date, summing up nearly $1m.
i've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
Well, I chose Kristin Amy Rose as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification. You should look her upRead more
Kristin Amy Rose is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
The Fed's talk of interest rate cut leaves me pondering what stocks to buy now and when do I sell? I'm unsure how to properly allocate my money to achieve an optimal portfolio in this present economy, my goal is $3m for retirement.
navigating market volatility can be challenging, it might be beneficial consulting with an advisor to provide personalized insights based on your specific situation and financial position
No doubt, getting proper financial advice is invaluable, my portfolio is well-matched for every season of the market and just yielded 120% from early last year. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.
I’ve been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance
Melissa Elise Robinson is the licensed advisor I use. Just research the name. You’ll find necessary details to work with to set up an appointment.
Thank you for the recommendation. I'll send her an email and I hope I'm able to connect with her.
My bad guys i just found 55 trillion dollars of lost wages under my pillow the economy should get better soon
Amateur numbers in this racket, print that cash faster than a deer running away from a starving wolf pack.
Mistakes happen, no worries, I remember my last time I ran a country into poverty, silly me...
"lEt'S sEnD iT tO uKrAiNe!"
SHIT, Did you find Saddam's Weapons of mass destruction there too?!
@@JackSlicethose were rhetorical devices, first of all.
...second of all, chemical weapons _were_ used in the Syrian Civil War, AND that freak explosion in Beirut...? Improper munitions storage.
Bushes weren't honest about it being grounds for invasion, but...? Frankly, the Middle East wasn't getting any better on its own anyway.
1984 is the single most terrifying book I ever read. Not because of its brutality, or authoritarianism, or hopelessness, but because Orwell knew something about humans that almost nobody else seems to...
For the vast majority, perception of reality is dependant on consensus.
The normie mind NEEDS social acceptance to function, and that means they will always be easily manipulated by whoever understands this and has the means to exploit it.
For someone who is capable of perceiving reality independently, it means you'll always be subject to the stupidity of the mob, and there's nothing you can do about it. You are forever forced to witness but can do nothing to save society from itself.
Jackmac. You have an accurate point.
this comment made me feel less alone, than anything i've read or experienced in a long time
Fatalistic but probably true.
And it's never more obvious than when people have actually read 1984 and still don't see the connection to the modern world. It's scary...
I was far more frightened by Brave New World. It's far easier to inflict pleasure on the masses as a means of control than it is to inflict force or pain. The problem is we live in a world that has hybridized both worlds.
I’m a boomer who can actually see what’s going on, unlike some of my peers. My parents grew up during the Great Depression/WW2 era, both were too young to join up by the end of hostilities. My Dad never finished high school and bought a house with the equivalent of one year’s salary punching a time clock in a factory. Although it was on a 25 year mortgage, it was paid out in 15. On one income, he raised my four brothers and myself while my mother was a stay-at-home who baked awesome cookies for us when we came home from school. When I was a teenager, my parents bought a cottage and boat for us to spend the summers at. Basically, it was a pretty decent middle-class lifestyle.
Fast forward one generation. My wife and I are both university educated and have good white-collar jobs. With no children, we managed to pay off our mortgage in time for retirement. Of my nephews and nieces, there are only two who have homes and will never be free from their mortgage until they sell. My older brother is still working at 67 because his son, daughter-in-law and three grandchildren are living at his place due to their foreclosure. Of my great-nephews and nieces, that’s another story. The best they can hope for is to maybe make enough to get an apartment on their own without roommates. Forget owning anything, they’re just surviving, crippled with student debt.
When I was a kid in the 60s, we knew that by 2024 we wouldn’t be living on Mars or driving around in flying cars like the Sci-Fi movies of the day said we would, but we did honestly believe that each generation should have it better than the previous one. Something is drastically wrong.
The Heritage Foundation Presidential Transition Project MAGA 1980 neoliberalism. That's what's wrong. And it is going to get much worse courtesy of The Heritage Foundation Presidential Transition Project MAGA 2025 christofascim.
The guilty party is blame-shifting all of our socioeconomic woes on "other". Circumstances are so bad, especially for us disenfranchised under-40s proletariat, that they're going to fall for the promise of trickle down, a break, all over again. And it will never materialize, just like these past nearly 50 years. Only shareholders, assets/equity holders, benefit a little alongside the windfalls to the actual capitalist owning class elites.
This system is setup to siphon all wealth to shareholders and the top 10%. The bottom 10-20% are literally on pocket change. The former middle class is still getting squeezed on tax and bitterly resents "other" beneath them for it. Not the interests that have imposed this purposely unsustainable system upon us.
Don't be surprised when a ratcheting up of "look the other way" indirect genocide results. It's always been here for "other", but the scale of it is going to go off the charts. That's what MAGA Project 2025 is.
They want to utterly cut every crumb that the disenfranchised get. Which everyone is a few missed paychecks or an unexpected medical bill from themselves. Crumbs that are just barely enough to literally survive on as it is.
We DO need reform but THIS isn't it.
Thank you for sharing. I enjoyed hearing about your parents and their upbringing.
Guess I dodged a bullet by being too and unstable to finish community college huh? ^^;
I still want a job that pays past $2k a month :\
Being 32, turning 33 in 2 months doesn't help me either
Thanks for pointing this out. Sometimes we need a Birds Eye view to see whats going on. We are getting squeezed over multiple generations by the banking cartel and the people who run the world. Their motto is “You will own nothing, and be happy”
@HackersSun I was 40 yrs old when i 1st started makin $20 an hour. That was 2 yrs ago. The kids that are starting out and im training are making $18... I imagine 20 yrs from now these kids will be making $30 an hour and the new kids they train will be makin $28
I have a decently respectable job as an electrician. 50 years ago, hell even 20 years ago, I would be somewhat well-off, at least middle class. Not now. I'm sick of being a poor wage slave with no savings or hope of affording a house or a family here in the prime of my life when I should be making progress on those goals. I'm tired of being alone in my tiny little overpriced apartment in the city. I yearn to run a small sustainable farm on a modest piece of property and raise a family, as if this is some lofty goal and not the default predicament of a medieval peasant. I'm hopeful for a collapse if only to see some spark of real change, of a society being forced to finally confront the real ugly problems it has been sweeping under the rug for a century. I'm tired of being stuck in wage-slave purgatory yet I fear the grotesque horrors the collapse will inevitably bring. I pray that God will grant us strength, courage, patience, and perserverance through the tough times ahead staring us straight in the face. Boys, unfortunately the time has come to face the suffering the world has prepared for us in order to become strong men and lead the world to greatness once again. I have faith in those still reading this comment. Lord have mercy.
Amen brother
There's got to be a turning point soon. There's a confluence of too many negative factors for this to continue. For young people today, the economy is terrible, the dating market is terrible, the political system is totally screwed up. There's no social cohesion, no great project, no real reason to live other than basic survival. We're isolated and alienated. And we're told it's all our fault, and constantly gaslit on tons of other issues as well. Depression and anxiety are through the roof. Most people aren't happy. For most of us, our historic religion (Christianity) is no longer plausible, so we can't lean on that, either.
Something's gotta give.
As someone who never had a high paying job, at the age of 30 I own a small homestead on 10 acres. Believe in yourself and do it. It took me a decade to get here and I'm still building it up. IMO there is no better way to fight back then to circumvent this corrupt society by providing your own power, water, food, fuel. Figure out a crop/product to produce in surplus and directly compete with corporations, or in your case you can provide a service. Keeping your debt and cost of living low will make it possible. Modern technology makes this lifestyle much easier than any peasant had it, don't let conformists and naysayers tell you otherwise.
Believe it or not everything will be fine... Electrician's are the chosen ones !
Get out of the city. I'm from DC and couldn't afford rent or food. Moved to Tennessee and I'm upper middle class over night. I have a ged and I'm a veteran. I drive a bull dozer now for $20/hr.
Yes I have some veteran benefits most ppl don't have, that's why I say upper middle class. But if you move somewhere the cost of living matches your income, alot of your problems will no longer exist. You can buy a plot of undeveloped land for dirt cheap and do whatever you want with it. I went from living in a car, to owning a 3k sqft home on 10 acres. In a matter of 6 yrs after leaving the city.
Cities tax you to death. And most ppl have no reason to be there except they think it's the cool place to be. All my friends in dc are always crying about being poor and they are unemployed or work in coffee shops. Trying to pay 2500 a month rent. Like WHY... my mortgage isn't even 2k. But they are democraps and think red state means evil racists or some nonsense
It's a bizarre thing. In the same newscast, the news anchor tells me how awesome the economy is doing, then a few minutes later tells me about the homeless encampments. Someone is GASLIGHTING me, and I don't think people are living in tents on the sidewalk in an attempt to trick me into thinking the economy is bad.
It’s not bizarre. It’s all intentional to keep you confused and in the dark.
@@alexsmith-ob3lu True, but intentional on whose part? I don't think the news anchor is in on the scam, TBH.
@TheMyrmo they're in on the scam just as much as we are. All they do is read the teleprompter and worry about their ratings. We are all confused and trying to see the big picture. Even the liars think they're lying for a noble reason.
A few things I’ve identified.
1. We stopped building new housing after the 2008 housing bubble burst, so now the price of housing is rising rapidly
2. We don’t have enough skilled labor to replace the labor leaving the market, which innately causes low supply driven “inflation” (really we just can’t produce as much).
3. We printed trillions of dollars, which is driving inflation.
@@TheMyrmobecause news anchors decide what stories to cover and how. They don’t have leadership or writers anything, it’s freestyle up there like an independent CZcamsr right?
Well inflation doesn’t happen because the public is living too well. It happens because the government is living too well.
Not dissing your comment but you responded before even getting a quarter way through the video
Its not even a very factual quote
@@dragoe7441 that’s true I did. I guess i just have plenty of my own thoughts about what is wrong with the economy.
@@jf2849comment whenever you damn well please
inflation is a sustained increase in the money supply of a country ... translates to Money printing ... THATS IT! STOP PRINTING AND INFLATION ENDS... anyone who disagrees is misinformed and incorrect ... (Really its that simple)
I no longer believe hard work pays off.
I no longer believe that you shouldn't assume it is ignorance when it is most likely malice.
I now believe peaceful protest will not change anything.
correct
Well I hope you no longer believe in the Monetary-Market religion either. Capitalism is killer. Money is a means of enslavement. We are born into bondage, without consent and indoctrinated through various ways through childhood and into adulthood and very few of us think outside the box.
Based on trends, if we don't fundamentally change the structure of our system, humanity will not last long and it will be a VERY bumpy ride from here on out.
But if we do turn the tables, if we do see a new precedent set by various cooperative communities using the tools of enslavement as tools of liberation, like One Small Town is set up for, and that catches on around the world, the snowball effect could take over and we can see a brighter future emerge.
Time will tell. What side do you want to be on? The side that follow the truth, acts on viable methods to change the world for the better despite the challenges or the side that doesn't go for it, ultimately accepts the status quo and just hangs on for dear life as the ship sales into more and more troubled waters?
💯
it begins
I was a team leader for a top tech company you certainly know. Literally every day we had some DIE (diversity inclusion equity) related company news, blog post, mail, office campaign, event and so on. We had to do trainings every year to prove we love women, people of color, and alphabetsoup people. Just our money and time wasted on DIE definitely decreased our efficiency by 10%.
Our kitchen tables literally had LGBTQIA+ magazines and pamphlets training you in how to give and receive anal sex.
There there was the problem of affirmative action: We had quotas for women and people of color in hiring, leadership, training. You got people pushed into positions over more competent people just because of their irrelevant characteristics. I did a lot of hiring and interviewing. One time I had to give up on a really competent guy, because there was a female candidate. Another time I had to give up on a really competent girl, because of a mus|:m candidate.
How much efficiency do we lose to affirmative action? I don't know, half?
Then I told HR that I am not willing to consider a person's color, ethnicity, sexuality, gender when hiring. I was fired for it.
DEI is insanity. Common sense is not common. I too, would have been fired from your company as their actions go against my moral compass.
@@terryenyart5838 DEI = Didn't Earn It. :)
but don't you know they are not the actual racists and sexists?????? they have pamphlets!!!
Did you ever try out the instructions in the LG-HDTV magazines? Asking for a friend.
@@terryenyart5838 But you see that DEI is manufactured distraction by the Ruling Elites to try and keep the lower classes from rising up and building a better system to topple the capitalist stranglehold currently on the world economic system, right?
I think more evidence of this will come out over the years, but I will not be surprised if DEI is found to be a psy-op by some elite bankers and elites who knew that social unrest was coming and they needed something to try and divide the lower classes. DEI seemed like the best option. And, unfortunately, it seems to have worked, so far.
roman empire: all roads lead to rome
whatifalthist: all problems lead to the rustbelt
Keep me out of this. I just want to work and keep government out of my life.
@@DarenMiller-qj7buLife doesnt work that bud
@@Spheronicit actually does, though. It’s amazing how simple life is when you make yourself ungovernable.
That's not true, all problems really just stem from the audience not being able to get a girlfriend.
all roads lead to juice
Apparently the economy is fine if you make over a couple hundred K and have owned your home and land for a decade. Those are the people who keep telling me there’s nothing wrong with the economy
I grew up poor, worked my ass off for 30 years, started businesses and did well. I am comfortable and can say because of my extra income, during the downturn I more than doubled my net worth by buying property and closed business in anticipation of the reopening. There is a big truth in the rich got richer. I’m on the lower end of the 1%, even then our families net worth exploded in a very short time.
@@floridaman4073 the advice we peons get from out of touch folk comes down to things we can’t afford to do in the first place. Buy land, invest. How do we do that when we have to choose 2 out of rent, gas, and food?
It's not a disaster for everyone. I support my wife and child on a single income and plan to have 5 more kids in the house that we own. Part of what enabled that is we made sacrifices to get out of debt and keep costs low. We drive cheap beat up cars, rarely eat out, and buy most things second hand. Part of what is wrong is the vision that is pushed.
@@Tunda2 If you really have to choose between the 3 you are spending too much on food and rent. You have to make sacrifices to first get out of debt. Add a roommate or find a cheaper place to live. Eat out less and completely uninstall doordash or Uber eats from your phone. Limit or entirely stop buying video games or streaming services. You have to live below your means. And that sucks and is hard. But there is hope. I'm 29 and have a home and a stay at home wife who raises the children. I've been in rough financial shape before so my advice comes from experience.
@@theninjaofmusic I work just under 60 hours a week and can't afford the combination of rent, food, car insurance, gas, electricity, garbage service, water, etc. Rent alone is about 60% on the low end of apartments/rooms. A lot of times renting a room only gets you a reduction in electricity, water, garbage, internet, etc. because you have other people to chip in. The problem is that you need more rooms to split and thus the price goes up accordingly. I can pay 1200 for a single bedroom by myself, or I can pay the same amount for a roommate situation in a 3 or 4 room apartment or house. I don't use apps at all, I don't even have a Facebook. I buy virtually all generic medications and food unless there's no generic alternative. I do most of my own car repairs. The truth is that the political and corporate elites have stolen value by overprinting money and using things like shorting stocks to migrate value from the lower class to the elite class. My parents used to be middle class back in the 90s/00s with an income in the mid 60k range, and with other projects they did, probably grossed about 80k before taxes. They are now considered upper lower class. Their incomes have stagnated despite the fact that they've received multiple raises and promotions within their respective fields. Higher taxes, lower buying power, it all adds up. So what hope do I have, as a nobody with no connections or gimmicks. I can shoot a rifle pretty well, but the military don't want my broken body no more. Don't really want to become a criminal or terry but at some point it's basically that or stick the muzzle in my own mouth, just like the government wants us to do.
Economists are not billionaires for the same reason that psychics don't win the lottery.
what
Public Economists are paid to produce results which manufacturer consent. Private economists and investors are rich AF
There's also a difference between someone who studies the broader economy and someone who studies investment and individual businesses. The economists who focus on Warren Buffet-style stock analysis all tend to be quite wealthy.
Lol, they're just all too morally upstanding to use their "abilities" to make fabulous sums of money.
wrong, in the lottery there is no way to have an edge, all perimeters are unknown to observers
economists that studied austrian school of economics must be doing well, not on regime wages but on market returns performance
I had a huge tech project once where for successful completion we should have gotten 12 engineers or so.
Well, we got 7 managers and 4 engineers at the start. It was a complete dumpster fire. We had 5 hours of meetings, because every single manager wanted to have his or her own meeting to discuss things. After 5 hours of meetings you were expected to do your job, which would have needed you to work over 20 hours per day on technical stuff. Needless to say, after a few months it was evident even for managers (after us telling them every day) that this won't fly like this. So they brought in THREE engineers and 2 more escalation managers. So for a job that required 12 engineers, and a management intern we had 7 engineers and 9 managers, and it remained a mystery forever why we always missed every single deadline, and why we were always tired and overworked.
Oh, and the managers cost about double compared to the engineers.
I worked there too, but it was 12 managers and 3 engineers because the product line was "being phased out," yet the contracts kept coming in, products sold as "off the shelf" but somehow each project required new customizations, docs, tests, and its own pair of managers, leaving each engineer juggling 2 or more projects at a time while being yelled at by 4 managers.
soon you realize they are not making "products to solve problems" they are just transferring wealth between their networks.
they are not trying to "solve problems" with the product. they are spreading their wealth amongst their networks.
literally, too many people who dont do any actual WORK. They instead sit and look busy on the side, then claim 80% of the success (i mean pay) when the work is done.
I'll always remember my dad mentioning to me that when he was in elementary school (late 60s) the school janitor owned a home with a yard and his wife stayed home with the their four kids. I can barely afford my studio apartment and dog vet bills in Utah making 70k as a business manager
Where do you live in Utah? Salt Lake? Ogden? Provo? St. George?
@@kylejamesdalzell2839 Why are you trying to track this guy down? :D
Meanwhile, African population is exploding exponentially. Why have we prioritized their well being when the human population of Europe and the USA is declining?
@@damonmelendez856 making me think of all the videos in the 90s of black kids with flies around them and asking for donations....
@@kylejamesdalzell2839 he lives in Provo. 1313 Mockingbird Lane
I was born in late 1960 and can confirm that single earner families were the norm during my childhood. Most Moms were housewives.
dude i was born in 1991 and it was still true then! Didn't stay that way, though
@@apolloeosphoros4345 I noticed that everything seemed to change after 09/11/01...it was eerie in a way.
You were born right after US took over the world?
and getting super-rich was your norm?
@@armandaneshjoo I missed out on getting super rich...quite the opposite.
@@keithstewart934 Then you will miss on crashing super-hard. the coming crisis won't hit you. Stay vigilant and on the look for what could.
"When you look at the numbers, everything is fine"
*34 trillion dollars in debt* 💀
Debt can be a good thing sometimes
@@pizzaslice3891 idiots can be smart sometimes
@@pizzaslice3891 Red can be green sometimes.
Our economy is afflicted by uncertainty, housing troubles, foreclosures, global shifts, and the aftermath of the epidemic, all of which contribute to instability. To restore stability and drive growth, all sectors must urgently address rising inflation, slowing GDP, and trade disruptions.
The US dollar is losing value due to inflation, while other currencies are gaining strength, creating uncertainty. Nonetheless, many people remain confident in the Dollar's perceived safety. I'm concerned that my 420K retirement funds may lose value, therefore I'm looking for other financial stability.
With my stressful career, I don't have time for investment analysis. For seven years, a fiduciary has managed my portfolio, responding to market situations, ensuring for effective navigation and informed decisions. Consider taking a similar plan of action.
Do you mind if I ask you to recommend the coach you employed? It seems you've figured it all out.
My CFA, 'Leah Foster Alderman', is a well known figure in her field. I recommend looking into her qualifications further. She has extensive knowledge and is a treasure trove for anyone seeking to manage the financial markets.
Regards. her handler was simple to locate and appears to be extremely capable and adaptable. We scheduled a phone conversation.
Did we forget 5 years ago the managerial class was saying "our standard of living has to decrease". I think things are going exactly to plan. Their plan.
Managerial class has a more common name. Often seen overrepresented in both academia and our government
@@Mcfunface
The ones committing a genocide in front of the world with shit eating grins on their faces while they use a genocide from over 80 years ago in another country as justification?
???
Yeah but, the downturn has been going on for decades.
This comment perfectly describes exactly how I’ve felt for the past 10 years. I don’t consider myself particularly astute or intelligent, but it’s become increasingly obvious to me that most people don’t have an original thought in their heads and are basically just going along with the crowd 90% of the time. I feel like I just have to sit by and watch everyone around me mindlessly following the popular narrative until it bites them in the ass, and they learn the hard way what was obvious to me the entire time. By then, a great deal of damage is already done.
My company has more managers than working employees. Said managers receive bonuses for our performance while not understanding our work.
@iananderson5972
Why not give benefits to workers for better productivity, if that money is given to managers, then managers will yell at workers to work faster. Bad work mental health for workers.
@@juriscervenaks8953 Because managers are the ones that are in charge...of course they're going to give themselves bonuses at the expense of the employees.
@@panderson9561 But i don't understand how they are not going out of business, to competitors. If most of managers are useless leeches, then competitor firm with 1-3 or no managers could offer cheaper prices to consumers, and would take other business jobs. Only think i can imagine is cartel, all business are conspiring not to lower prices, and hire family members as useless managers. But if only 1 firm chooses to fire useless managers, all that conspiring goes bust. Is there other reason why they don't go bankrupt?
It's like Undercover Boss. The managers were the real problem but they never got reprimanded or replaced. People in leadership positions get there because they're able to manipulate and project an image that is a fantasy. The bosses buy promises that can't possibly come true. It's a human thing.
One of the biggest questions we should all be asking is this. Who are we paying the interest on our national debt to?
Global elites?
Anyone that owns a Treasury bond when it matures. But some entities own a tons of bonds and some a few
@@4bidden1AKA a certain tribe that despises the West for centuries of ostracisation...
Oy vey!
US citizens and US organizations, primarily. Fabulously wealthy citizens and organizations. They've turned the Federal government into their own private bank.
Dude… they putting up fake job postings not to scam but to “prove” companies are hiring meanwhile, they’re finding the smallest slightest reason not to hire people
So sick of the establishment not only lying to us, but sick of dealing with the proportion of the population that still believes it. And let me be clear... I'm not saying I know any better... not saying I'm better than anyone else. But I am saying I'm sick of putting up with all this ignorance and division. Great video.
I feel your pain, ever since Spring of 2020 my contempt and disgust have been off the chart but I've been learning to live with it...accepting that the comfortable delusion wins over the hard reality for the vast majority. Uncle Ted's manifesto was accurate, over socialization will end our society.
You do know better than them.
I admire that you're enlightened, but let me enlighten you further. The whole point of ALL propaganda isn't to convince you of their narrative, but rather to convince you (the individual) that everyone else (the whole population) believes their propaganda. This renders you neutral, as you cannot band together with other people since you believe you are among the very few who know the truth (which is false, there is a large number of enlightened people), and also works for the normies who will dare not question the narrative even if they have an underlying feeling that something is amiss, since they are conditioned to believe the whole population believes in the narrative.
I'm pissed off that not only did they lie to us. But they spent a fuckton of money on further dividing people with ignorance. Anybody that tries to fix things usually ends up dead or in jail. The government doesn't even really tolerate to much trying to separate from the goverment.
You are directly saying you're better than everyone else, by saying that half the other part of the population is brainwashed by the establishment because they don't have the same politics as you, or vote for the same people as you. You're right about one thing, you're not any better, no one is. You have as much rational thinking, as much tribalistic behaviors, cognitive dissonance and irrationality as the other side of the political isle. Truth is, both sides are dumb, we're all dumb. We all think we're right and have the same things to say about eachother, but if we were ever being honest we'd never fight as much as we do. The only one's who's dividing us are ourselves, because we like to be on the 'good' team, we like to imagine that WE'RE the one's that are right for America, and that the other side is destroying it.
The truth is we're all apart of the 'establishment,' we're all complacent to it and we're all brainwashed by it. We're all dumb, irrational monkeys who are wrong about everything. We're all ignorant, by more or less the same amount. Funny thing is, the other side would say the exact same thing as you about them. You're not a revolutionary thinker, you're not special, you're not taking a stance against the establishment. We're just dumb humans speaking with our emotions. That's all we are and all we ever will be until we face the truth about ourselves. The truth that ever single thing we think, we do, we support, we argue, is pervasively tainted with human flaw. And that, every conclusion we've ever come to is likely wrong, or lacks nuance. Nothing is absolute and yet we always act as if it is.
Government: Food has increased about 20%
Me: Looks at an Identical cart that has gone up 100%
Monthly groceries for me, by myself back in March 2020 according to an old receipt was 121$ and I ate out at a restaurant 2-3 times a month. Now? The exact same groceries because I wanted to test this, according to LAST MONTH'S receipt, totaled 291$. 121$ to 291$ in just....3-ish years. That's MORE than 100% increase isn't it?
Btw, this is in North Carolina, which has regularly ranked as the 24th cheapest state to live in since 2021, meaning it is somewhere in the middle according to affordability.
@@wohendumwing3ee9 I don't have receipts, but buy mostly the same things over and over. Eggs used to be about $1 a dozen at the Walmart here, now $2.19 a dozen. WM bread used to be $1 a loaf, now $1.47. I'm no math major, but that's far beyond 20%.
in 10 years, money has effectively lost 80% of its purchasing power here in brazil, while wages haven't even gone up 60%
Me: 25% income left over 4 years ago,
vs now ... zero, nada, zilch.
They got what they wanted - 'All of It'. USA!
@@gregorysagegreene Used to be able to save 100 bucks a week making five dollars less an hour. Now, It's hard to save at all.
You incidentally hit the nail on the head right about 11:40; you're not afraid to be wrong. Society has drilled into people's heads the misguided notion that being wrong is the worst of all sins; only those who are not afraid to be wrong and learn from that are capable of growth.
This video is more accurate than about 90% of the "journalism" we read today.
I make 75k a year as the sole income for my family. We live as far out into the sticks as I can reasonably commute. I drive 2-3 hours a day to and from work. I'm gone 12-16 hours a day. We don't have a car payment. We only have 1 child and we've had to beg our parents and the local church for food. We're drowning in hospital debt from the birth of our firstborn and there's more days than there aren't I just want to paint the ceiling. Don't you dare ever try to tell me this economy isn't bad.
Wow that's crazy, hard to imagine. Yk about the ways to reduce medical bills?
@@nietur No. My wife tried applying for medicaid or some shit and they gave her some bullshit about me making too much money or that she had to apply while she was pregnant, not after birth. We've legitimately talked about just doing a facade/paper divorce just so that she can apply for food stamps and all the welfare program bullshit.
I'm not gonna tell you it's ok but keep going man. You got this
Just don't pay it.
Medical negative items don't even really affect your credit anymore.
Or max out your credit cards and file bankruptcy.
There's no reason to live the way you do if this is true
Similar: Same salary, but my wife works a technical (no school) job. It puts you in an income bracket where you aren't eligible for assistance, but don't make enough to stay ahead. The ever-present 6 month(ish) emergency (dryer goes out, need new tires, etc) wipes out what little we can save.
I am more educated, skilled, and well-rounded than my parents, grandparents, etc ever were, and I'm living significantly worse than them.
My only condolence is that information is free and more available now than ever, and I can take those reigns and be a better husband, father, and neighbor in general.
Acclimate, adapt, and overcome.
As an economist, I get really frustrated when people say that the standards of living are much higher now than in the past. If you look at the progression of average wages compared to median wages in real terms, you will get a fuller picture. Average wages increase, but median wages have remained more or less stagnant since the mid-70s in the US and the UK (mid-80s for most continental European countries). This is because income inequality has increased steadily over this period. If you consider people in the bottom 50th percentile, their real wages, for the most part, have actually decreased. All this while the cost of housing, education, and healthcare has grown more than the CPI. The average is being dragged up by the wealthy, who have seen incredible increases in their income and wealth.
Media doesn’t factor that in. When they report debt has gone up, they will never mention the rich are doing better in the same breath.
Just let the sheeple blame Trump, Biden, Putin or whichever backwater war-torn region is popular that decade to sell weapons to.
The rich want their dominion to remain unnoticed.
As an "economist", did you ever realize that the (monetary) market system is a fundamentally and profoundly anti-economic slave control system? That monetary value is a delusion? That money is a tool of greed and mass control, because it doesn't spoil like everything else and so allows hoarding into infinity and beyond and made slavery impersonal and so the most normal thing ever?
The standard of living now is the highest ever. I typed this comment on a handheld supercomputer.
@@gyrate98technology isn't the only factor when considering standard of living
@gyrate98 there are poor people with cell phones
My friend summed the sentiment of your average person rather cicinctly. He was out on a fishing trip trying to talk to his uncle about something he saw currently very wrong with society, can't remember exactly what, and after 20 or so minutes if my friend trying to get the convo going his uncle stopped him and said, "look man, i just wanna get through the week and go fishing in peace, i don't care"
A lot of old farts don't understand whats going on But they aren't going to say that.
@@styx1272 Aye, they grew up in a world that was one way, and the changing landscape of today has affected them less enough they can ignore it.
Does seem though like most people only A; only start noticing things going wrong when we're knee deep in it, and B; usually only scratch the surface of the issue and blame it on the opposing political party or drugs or cell phones or whatever and stop there.
We're all too distracted with our self image and wants i would suppose and not taking the energy and time to ponder the bigger picture.
I got a degree in Finance back in 2010, which means I had to take alot of economics classes.
Those where my worst classes o hated how the used mathematics to justify economic behavior in consumers and countries.
Everything was too neat and clean; I didn’t like working in a corporate job cause I could just see how arbitrary things were made me sick and crazy.
I’m glad after all these years more and more people are having the scales fall off their eyes as well.
"They've built their own prison, so they exist a state of schizophrenia. They're both guards and prisoners, and as a result they no longer have - having been lobotomized - the capacity to leave the prison they've made or even to see it as a prison."
Trump definitely has the influence, charisma and the support base to even be a dictator forget trying to arrest him but watch him and his base still point fingers and act not in control when he is back in office
Panopticon.
I said this to my grandma...I've talked about it for years and like you said prior to trump was mocked, silenced, and ridiculed.
In the past 1 man worked and provided for a family of 4.
Now both parents work, can't afford one child, a house, or anything. We've basically been turned into wage slaves if you're not in the managerial class or above and even they live harder lives than people in another time.
You can in the Philippines
Work in the US
Invest
Move away and start a family
It’s the new American dream :-)
@@RetireandGo dude it’s not insanely possible for many people…
@@RetireandGo
Some of us are here to do real work. Not make-believe computer work.
@@sullathehutt7720Computer work is real . The reason it makes money is because of how many normal office workers 1 programmer can automate out of a job .
PAY MORE TAXES THO!!!! Democrats need your money!!
As Gerald Celente always says, when all else fails they take you to war.
Our healthcare used to be good. I used to pay $50 a month for a $500 deductible plan that paid for most everything besides the $30 to $50 co-pay. Then the Abysmal Care Act happened.
Normies being dumber than actual dimwits is simultaneously the most surprising, unsuprising, shocking, eye opening, and obvious thing that I ever heard but it shouldn't really shock me in the slightest
It shows the usefulness of intelligence and the trap of midwitery. A mixture of pride for being ‘smarter’ and being too stupid to realize the truth past rhetoric and half truths is a road to disaster.
I don't believe the midwit meme reflects reality. Almost all people, dumb, mid and smart, deceive themselves and believe what they want to believe. But it's amusing to think of dummies seeing thru the group-think and grasping some truth, albeit for the wrong reasons. And that some smarties also glimpse that truth, altho probably don't talk about it much to avoid castigation. But in reality, the truth eludes most people all across the spectrum of intelligence.
You saying normie unironically is fucking wild.
@@harrybudgeiv349 anyone who took the injections is non-human to me. normie is a nice word for that, "goyim" would be mine
There are a lot of normies, including you with that brain rot phrase.
The problem with the economy is that the value of human labor has been plummeting relative to the value of capital for 50 years now. If you already own significant capital, this is great news. But if you don’t already own capital, it is becoming harder and harder to work to acquire it.
This is how we have such disconnects as simultaneously having a booming stock market, and a housing affordability crisis.
Our society is rapidly regressing towards a feudal Europe style system, where a tiny, non-working class owns everything, while the rest work their lives away to own nothing.
That’s not great at all for long term population growth because 1. You would reduce fertility rate and
2. The worse it gets, more weird places seemingly become better immigration destinations like Russia
Note: I’m not saying Russia is good right now but it’s a decent choice if you had to choose between it and living as a serf in a neo fuedal USA
The us wouldn’t survive that and when the eu’s guard dog dies it’s open season for those who were it their opinion wronged
@@simonpetrikov3992Well if Russia gets demographically changed, it could become a less totalitarian nation right?
I own a condo, that enough? 😂
@@simonpetrikov3992 slowing population growth seems to be the natural correcting method for our current problem. A population decline would be even better. While Earth is generally theorized as being capable of supporting up to 14 billion people, several studies suggest that the maximum number of people that Earth can support at a reasonable standard of living is only 4 billion. We’re already at double that.
I only studied economics for four years in university but I will say your analysis is pretty spot on to my reaction on hearing Biden and their supporters claim the economy is doing great… economists don’t just sit around flaunting GDP - they know it’s a meaningless metric, same thing for inflation and unemployment.
This is one of my favorite videos from you. I majored in Sociology in college, and I took a Statistics class for my math req. The best thing I learned is how easily you can lie with data.
The economy shapes our reality, and most if not all issues run downstream from it.
The midwit meme is one of the best meme format that have come out in recent years. Most of the population actually believe they are smarter than they actually are
Intelligence =/= wisdom and consciousness. Most of the population aren't sentient. That's the real problem. But the scientific community aren't equipped to understand consciousness because it cannot be defined within a materialistic paradigm.
Spoken like a true zoomer midwit
Something I've finally jerried onto. In the English speaking world we have a habit of rewarding bad behaviour while punshing good behaviour. If your at the top making risky investments etc. You get rewarded with tax concessions minimal oversite and so on but at the other end if you want to be unproductive and not contribute. You get concessions, welfare checks. If your the average Joe in perfect health just trying to live modest with the 9 to 5 you get screwed. Maximum tax zero concessions.. our society has reached a point where if you don't exploit the system WILL exploit you.. our society is going to suffer badly for milking out the middle class. The most productive group in society
Yup it starts when you start selling out trust. If you don’t punish people who game the system, then trust vanishes and it becomes impossible for humans to interact at any scale. Hard reset is the only fix, and that hurts.
@celiacresswell6909 hard reset is probably the only real option at this point.. middle class is an elusive thing. Hard to create and easy to destroy.. most likely.. we are heading back to a fuedal system of nobles and serfs and the concept of the commoner is rare
@@dazwol9104 funny thing is, everyone despises the middle class, in the U.K. anyway. Maybe that’s why we have allowed the milking out….oh well, feudalism 2.0 here we come….
My parents told me I have to exploit the system to get ahead but I find it so disgusting to even think about wading into bureaucracy to grab cash like that, I feel like I have the morality of someone who will lose in a world run by liars :/ One of the many reasons I'll never be wealthy like my parents.
@@nienor1510 I hope you live your own life - not that of your parents: it took me a long time to realise I could love my parents while having different values
Point of order - Trump had no control over the governors closing the states down. Those were STATE lockdowns, not federal. Trump spoke against the lockdowns and vaccine mandates.
Agreed, and if he were to have tried to assume control of such, the whole notion of federalism would have died right there and then with no recovery. A benevolent dictator is still a dictator nonetheless.
he authorized the money to pay the states for locking down, same thing
i remember being a dungeon master back in elementary school in maybe 1983 and the guys found a ring of wishing and then wished for infinite wishes. laser guns and time travel ensued. i relate this to the fed money printing phenomenon.
Putting someone who formulates sentences worse than Yoda in charge of a country that can barely count should be a sign of what’s wrong with the American economy.
A liar and criminal you, uhh are uhhh come on man!!
*Squints with mouth agape
It is a representative government,
Add: "Formulates sentences like Yoda with a stutter."
biden is a puppet for a neo liberal party that is basically "nice" republicans. and biden so washed hes literally a puppet its not a metaphor
Biden doesn't run the nation. His Jsh cabinet does. That should be more obvious than ever.
The housing crisis in the United States is insane. It's the root of many of the ongoing societal issues. The CPI is up 20% but that hides the true scale of price increases. If you look specifically at rent you're looking at 50+% over the last 5 years. Wages have not followed. Unfortunately, some cities/states are willing to let illegal migrants in, house and feed them for free. Is immigration the core issue? Probably not. But it's the one of the more tangible issues. A lot of Americans are tired of it, and I can definitely see a rightward shift in politics in this coming election. Not sure what the future holds with that, though.
I'm still skeptical, but I agree. The fact immigration is the biggest issue to voters right now suggests people are starting to see through the open-borders BS.
I’ll tell you what the future holds; Revolutions. Lots of it. All around the world.
@@ViPER5RT10 Or we could try legalizing housing more dense than a single family home.
@@urphakeandgey6308eh, I’d say inflation first and immigration second. A large portion of Americans do not live in immigrant heavy regions thus it’s not their number 1 issue
Same here in the uk 🇬🇧
Every time the line goes up, there's people saying this time it's different and it will never go down again. True in the micro and macro.
We have moved millions of people from productive unpaid work (e.g. raising children) to unproductive paid work (e.g. pointless office job), so the line has gone up even as the true economy declines
Intellectuals love to socially engineer...It makes them feel important and virtuous and like religion is gives Them the illusion of a better world they created. One group is particularly prone to trying 'fix' humanity.
Great point, and the outcomes are even worse despite paying for it all. For profit daycare, for example. It’s expensive and damages children
Explain to me how parenting is more productive than office jobs when lousy parents are the ultimate cause of many societal problems. Seems like a net-loss to me currently.
The government has assured me that the chocolate ration was increased from 30 to 20 grams
Good one, in many many items the size has been reduced. For example local good rye bread: "machine upgrade" led to size decrease of the square bread slices, and they also "had to" remove two slices (20%). So, the fattening white bread hasn't been so unlucky - strange. Also they had to apparently do same in all the factories in the nation, how unfortunate. Of course it wasn't an ad or something, one of the rare cases people noticed and after some persistence got answer.
Yeah, they couldn't fit the new machine making the bread fit to same space in factory floor, it also had to happen (green transformation) to save the world though they didn't advertise it, and it had to happen in non-standardized factories all over the nation. How odd. I used to work there in factory service, and this kind of space limitations never used to be an issue. Well, guess the newer machines are bigger now, as per usual - my phone's been getting larger every year though I have hazy recall the dial phone used to be larger, engines used to be 2+ liters now they're 1.6 or 1.4, umm well I guess that was bad example. Electronics used to be tiny inside my computer, now when I open it umm there's tiny memory chips, tiny motherboard (well my memory must play me).
Oh, maybe I'm hugely sarcastic - my sarcasm has grown. And my productivity tbh, ever since they had to allow more hours to be done/year by law, pay decrease (I used to do logistics, now my job and benefits from it disappeared, job suddenly is "somehow" not customs job done in terminal, it's not changed in my opinion but I'm supposed to be cashier in a shop so I'm now a newbie, no bonus for years of work since I've not been a cashier before, no benefits as cashiers don't need special permits to do customs job...). Oh, some customs officers OOPS cashiers have been lax apparently, they've done some shady thing and country's now in drug pandemic. Also since I didn't accept pay cut to below half I got fired - that wasn't the reason though, reason being umm "no jobs" but somehow they have not enough workers and keep open applications in government website, and because no jobs companies get government benefits to try to gain workers.
@@tondekoddar7837 Are you Longmont Potion Castle?
the portion are prolly smaller to help you, kuz we fighting the "obesity epidemic"
@@harmondaniels5108 Nah, whole EU and brit wide problem. Finnish, so the rot is here too that's scary. So widespread.
The guy at the top for the last 3 years showed how qualified he is to run the country during the June 27, 2024 debate.
Same people who told you he was "Sharp as a tack" are telling you the "Economy is doing great".
Sharp as the flat side of a tack, they meant.
last 7 years
@@nietur Yep. Not to get too political, but both the (D) and (R) political elites look pretty old & decayed to me,,,
@@nieturno, not the last 7 years. the economy was doing great under trump until covid happened and everyone was blindsided. he had no choice but to print money. if trump kept the country open, the media would’ve been blaming him for every covid case, which they did either way.
the insane part is, even after we realized shutting the country down did nothing to solve outbreaks, biden still continued to keep things shut down and printing more money up until 2022. nice cope tho.
The President doesn't run the country. That's not how the world works.
27:15
I learned that money printing is extremely bad when I was in my teens in the 90s. I can’t remember where I learned it from, but it was either school or Discovery channel.
It was reiterated to me in college in economics 101. That was the early 2000s.
Did this information become lost since then? Why isn’t this information in school anymore?
I have had so many Left leaning people tell me I was "F'ing stupid" for bringing that up. You can't print 80% of the money supply in 18mos and not expect inflation and in my mind this Inflation isn't going to level off until $1 buys $0.20 worth of 2019 goods.
One thing that relates to your video....In essence, over the past 60 years, the United States has moved 15% or more of the private sector overseas and given the people displaced here useless or damaging public sector jobs to compensate, funding them with massive borrowing. On top of everything else in your video, that has been catastrophic for our nation.
Kinda weird seeing my dead grandpa is technically still wealthier than me. He died 10 yrs ago. My mom and her siblings haven't spent all of their inheritance money and property. A dead man has more riches than me, a guy in his productive age
Why don't they pass the money to you kids? Because they are the generation that took from their parents and their children. I know, because mine did the same thing and so did my wifes parents.
Saving this
That's how it's suposed to be. How do you think you should be able to achieve in 10 years what he achieved in 50?
Nothing wrong there. Wealthiest those who have worked the longest and higher income those who are more productive. They are two different things.
@@dualfluidreactor 50 years of wealth being used up for 10 years straight by multiple people.
Against ~20 years of income being earned.
One is decreasing.
The other should be increasing.
If the economy was better than in the past, then the person who has been working in his prime should not be poorer than the person who has been dead for a decade whose wealth was being spent by at least 3 people.
Bro I just turned 29 years old. I have about 20k saved up and I swear to God everyday I want to just buy a van, modify it to live in it, and just travel
Im at work right now just thinking about how futile my efforts are with this type of inflation
@Lvl22Cowboy Buy heavy metals with 10% of that money, and you won't lose all of that saved money, remember banks can always steal your money.
Inflation doesn't matter to your dream if you don't save in currency.
@@juriscervenaks8953 Could do 90% but doesn't beat stocks long-term. Banks can't steal your money. Banks can go bankrupt and then, if there's no deposit indurance and no bailout, only then can they take his money.
@@juriscervenaks8953 im so tired of that bad advice. You cant eat metals, or buy a van with them. He needs to cash to fund his daily life and buy things he wants for his personal goal (a house, car, furniture usually, but in his case he gave up so a van).
Elites are out of touch with this advice. As if ppl dont need liquid assets. Oh! that's right, the elites HAVE millions in stock AND a health saving in their accounts and credit access. Its easy to say to buy metals when that is your situation...
Don't make an emotional decision.
In a free society the distribution of wealth should match the distribution of ability.
Many Americans are suffering. Govt needs an overhaul. President Shiva 2024.
The economy has been good since 1982 when the inflation rate measurements were “recalibrated”.
ah. the cpi
yes inflation is only 8%
what are they doing, dividing by 10? lol
I did a small study of gold the other day... Turns out that our money is worth 1/60 what it was when we left the gold standard. Imagine making $350(a year) in 1960. That's what I make... Somehow I doubt my ancestors would be impressed.
@@laststand6420 They would be impressed just my the means you were able to write that comment.
@@nietur True, our technology is impressive... But you can't eat cell phones.
@@laststand6420 you can eat soylent green lol. they dgaf about you. But the average normie is a coper until they turn into zombies.
A large portion of "the economy" is property. So the economy can grow because of increasing property prices, but if you dont own property then it doesnt help you at all. This creates two different economies, for older generations who own and corporate owners, the economy is doing fine. For renters, the economy is appalling.
Bingo. If you own assets, you're doing great. If you're relying solely on wages, you're screwed. And since, as a wage earner, you can barely make ends meet, you can't save any money to ever join the ranks of the property owners.
You’re conflating growth with nominal prices. When homes go up in price but labor doesn’t rise, you’re not wealthier owning a home you’re just improvising people below you. To be wealthier (growth) would mean you could buy more house, chicken, gold, or labor with the sale of the home. You cannot, it’s all fugazi
basically life is one big monopoly game. if you dont own some houses you aint wealthy
I remember discussing with my wife, as covid started, how a two tiered economy was developing where capital kept making money while we all had to stay home or lose their small business. Crazy to see it being discussed.
She’s lucky you’re perceptive and looking out for her!
If a vampire sucks out too much blood at one time then their victim dies -- and the vampire starves to death. It looks like things are heading in a direction similar to what caused the French Revolution (as you mentioned).
You have to keep your snacks chained up in the basement and remember that moderation is the key to enjoying most of life's pleasures.
There's one issue where he points out the Trump era pandemic response. I remember when he left parts of it up to the states, people screamed he didn't do enough. He throws a hospital ship into NYC and they didn't even bother using it and then complained about that too. They complained he might fire the AIDS-panic guy because he would never create a health panic, and then when he didn't they didn't back off that at all.
The mandates at the time all came from Governors, it wasn't until the next administration that the Feds got in deep with the Mandates. What mandates? To get the vaccine. Which was being rolled out after the election period had passed.
This is a major point. The one thing that Trump did was to push the covid payments. This started the inflation but I agree that after that it was mostly Biden. The only other thing that was unforgivable as far as I’m concerned was Fauchi. That bureaucratic asshole should have been fired before Trump left office in disgrace.
He said he under stated it not to casue panic its his fault.
Exactly. The big problem, the cares act, was a Christmas wishlist of every leftist boondogle imaginable. They said they wanted $7 trillion or else no pandemic relief. The Republicans settled for $5 trillion.
@@jbone9900 what’s his fault? Not making people panic???
Over a virus that isn’t insanely lethal or damaging? 95% of people survived just fine but the effects of a tanking economy, inflation, and the years lost for kids are more damaging than this dumb virus could ever be
And we haven’t talked about any vaccine…
They blame Trump for handing out checks… yet the dems would’ve done the same thing
In fact people DEMANDED them and even MORE
Republicans wanted to keep things open. Dems wanted to close things down and hand out more money
Great economic brains… -.-
Old people destroy the futures of young people.
surrendered yourself just like that?
Currently, you’re not wrong. Covid policy was almost entirely sacrificing the young. I was disgusted by the craven actions of elderly people afraid to die.
@@terrannyberg4687truth be told they were the hardest hit by the virus in its first wave and incarnation. After it started to mutate and get less aggressive it was too late , the panic and reflexive jettisoning of the expendable was set in motion.
I'll never forgive my 'grandmother', not even in the household, forcing me against my will to get Moderna. Any regard I had once had for her died. The ultimatum was getting tossed out into the desert to die (this already was a toxic dysfunctional 'family' dynamic before the worst of this socioeconomic shit hit in 2007). I genuinely hate her; "You have NO right not to get it!" I have health problems that have worsened since. And I know it was democide. These elites have been whining about overpopulation for decades. It's not hard to figure it out.
Youth and vigor are no match for Age and treachery....pay the rent boi. You tried to kill us off with covid leak to receive the transfer of wealth but we survived and saw thru your feeble attempt to gain prosperity. We drank from water hoses, played with lawn darts and smoked before and after school. Live like the mighty coach roach we live FOREVER!
It's looking like the movie "don't look up" more and more lmao.
Idiocracy
29:20 Money printing explains inflation. The government printed money, but did not print more houses or more land or more groceries. So houses and land and groceries have all shot up in cost. But wages have not shot up.. if the government increases the money supply by 50% and wages only go up by 5%... we are all much poorer.
"The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command. His heart sank as he thought of the enormous power arrayed against him, the ease with which any Party intellectual would overthrow him in debate, the subtle arguments with which he would not be able to understand, much less answer. And he was in the right!" - George Orwell
Sound familiar? 1984 was a warning, not an instruction manual.
One of my favorite books but seeing it develop in our society is terrifying.
It's amazing how people believe that we're not in a great depression when even the government's inflationary numbers are above anyone's raises.
those numbers are drastically underreported, as obvious to sentient individuals
Real capital density is higher. So on a % or share basis it's the great depression, but no one misses a meal and everyone is online all the time. Much how the great depression itself didn't feature mass starvation deaths etc. Compared to the Medieval period when economy was primarily agricultural and thus bad harvest = people die.
Because we aren't.
I’ve seen my everything crash since moving out of my parents house 3 years ago. With my roommate moving out a couple months ago, I had to move to a single room inside someone else’s apartment from a two bedroom lease since my Roomate had 4 kids and 4-8 pets. Life only got harder by the month for myself as I had to slowly stop paying bills over time just to keep up the 1800-2000 a month rent. The economy in USA will eat you alive if you try to have a family without the right financial buffers.
When I was in Uganda just over 10 years ago, one US dollar was worth thousands of Ugandan shillings. When I first arrived in country, I exchanged some of my money to the local currency because I believed it would be more widely accepted. But people had largely abandoned their currency. Instead of paying tens of thousands of shillings for basic groceries, there was a black market for US dollars. I would have been in huge trouble for using dollars, but stores would let locals use dollars because they were viewed as worth more (and getting a mzungu in trouble would have made a lot of them very happy). When I told my students that I would generally buy a loaf of bread for a couple of dollars, their eyes got huge and they seemed surprised that anything so basic could be so expensive. I can only imagine their shock (or smug smiles) now that the price of a loaf of bread has at least doubled, along with everything else. They lived through watching their currency devalue. Now it's our turn.
Im an OTR truck driver. Before that I spent ten years in the Army. I dropped off a load of steel a week ago at a plant outside Pittsburg, PA. I had too google and and walk around it. The plant looked so old, I thought it was abandoned. Literal holes on the roof and broken windows. No one was there cuz it was sunday night, but it was the perfect setting for a Zombie/apocolaypse movie.
We are big fucked. Investing in Apple/Amazon isnt helping, people
@@Mr.Ut21 So you delivered the steel and were paid? looks like the economy works.
Apple and Amazon building nice buildings on my area though.
Lotus Eaters did a thing on this a couple months ago comparing how run down British towns and cities look compared to a decade ago. That's the one thing about Google Maps. They have high resolution Streetview imagery for most places going back to 2009. It's like going back in time. There's documented evidence just how much urban decay has progressed. TBH, I'm amazed Google still gives you access to that kind of data.
That kinda reminds me of the place an old boomer told me to go apply for a job at... A abandoned steel plant...
Investing in these companies is probably making things worse because they are rigging the system and not paying taxes. Why invest into a company when you have no say so over what the company does because you're not a majority shareholder? You don't control who is on the board of directors with your $200 stock.
Investment in these big companies is only good when you're investing for your newborn's future, so it has time to build up. Even then, it isn't ideal because, again, they are rigging the system in their favor. Little Johnny is going to have to grow up with their corporate overlords. Maybe he'll get a job in their company town so he can be an indentured servant. Speaking of indentured servitude, I can't believe it took me this long to realize that was what college basically was.
Damn. It really is similar:
"Indentured servants were promised free passage across the Atlantic, room and board, and often a chance to get an education or learn a trade as long as they fulfilled their contracts and served their masters without pay for four years or so. "
There’s nothing wrong with the economy by historical standards. What we’re going through is practically expected by those standards, as is elites gaming the system to their advantage. It’s simply strange by our standards because the last great economic shrink was the Great Depression, and as the Greatest Generation dies off, replaced by the Boomers who have known the best economy in history, the conception to both the old and the elite that things can really go wrong is lost to them. And thus we’re stuck with elites and elders wagging their fingers at the youth, out of touch with the fundamental reality on the ground.
Exactly -- boomers who never lived through times where America was not in this very specific position (top of the world stage), literally don't understand that we cant make everything perfect and print money and pretend bad things wont happen, but of course it will be us who deals with it for years to come
@parkourpanda6556 not just us. Our children and possibly their children if things don't stop getting worse. If we stabilize things will suck but suck is better than f@cked.
You give the Great Depression as an example of precedent for whats going on today, but really; when wa the last time a country was facing mid-term extinction because it become too expensive to make children? AFAIK, thats an historical first.
@@JohnJohn-jq7cd Yep exactly, it is true that there is some precedent in all of this due to the typical historical cycles of rising and falling dynasties and the eternal tug of war between labor and capital. However, we have never before seen in known history a situation so dire and complicated as our present one. There simply is no precedent to know how bad the coming fall will be. And when you add into that the fact that technological development, extensive employment specialization, and globalization have completely detached the overwhelming majority from any kind of understanding or control over their own basic survival needs... Things are looking like they'll be quite rough in the future.
2008 was essentially the 2nd great depression, they just printed their way out of it. That's what most people miss. The reason we believe in inflationary monetary policy is because of the great depression.
If you owned a diversified portfolio of US assets at any time in recent history, you are doing just fine. The trouble is that growth doesn't always come from an individual person's productivity. So, owning the means of production is just as important to your success as being a productive worker.
The big topic you're missing in this video is "technologies exponential rise" and its contribution towards productivity. As labor you don't control how technology improves your productivity, so you have to own a slice of it, or you fall behind.
This is how the system is setup. We amass an "army of capital" in our youth and then deploy it later in life to work for us as we retire. Anyone who is unable to achieve this will inevitably fall behind. Those of us who were unable to invest properly into the growth economy will then rely on the government to redistribute wealth in order to survive. This results in larger government debts.
The debt spending is the natural reaction to being unable to raise taxes on long term capital. Look at tax deferred and tax advantaged investments, or assets that can be borrowed against such as real estate. You can't really tax retired people because they don't have a job, but that's what needs to happen to rebalance the distribution of assets. Instead, we go further into debt.
There is a knee jerk reaction by the central banks to avoid a recession by pumping liquidity into the markets whenever there is a pullback. This results in the next generation being unable to purchase assets at a deflated price with the income earned from their jobs. This is an advantage to those who are retired and rely on the income from their assets. The "elite" are your parents. And if you are so lucky to have a good amount of assets when you retire you will be the "elite" as well.
I disagree with your statement about technology. Over 200 years ago the Luddites thought that machinery would replace workers. What happened in the last 200 years? We needed more workers and grow the economy exponentially and everyone (in the Western World) was doing phenomenally up until about 1972. Policy makers are completely to blame, not technology. Do some research on "WTF happened in 1971" and you won't blame technology anymore.
In 2020 I could buy a pound of ground beef from a local farmer for $5. Now the same ground beef is $8 a pound.
People need to stop referring to greedy companies as wasteful. They aren't burning through money wastefully (e.g. hospitals) they are funneling money to the oligarchs. It is *by design*
Entertainment industry is right now at a feverish pace. They've always been a cash sink--"Hollywood accounting" and all but it's stunning to see how much they are wasting currently on offerings with little to no return in most cases.
To build a business you often need funding, and to get funding you need to give up a part of the company to the people who funded you, so that if your business succeeds, your investors make profit.
@@cryoraare you the midwit meme self insert?
@@gwills9337 You can't build a successful business without making a rich person even richer. That's the point. Why does a rich person always have to be in the picture to take a piece of your hard work?
Money printer go brrrrr
PRINT THAT MONEY PRINT PRINT THAT MONEY PRINT MONEY!
0% interest rates for over a decade. Bailouts for decades.
@@Lonovavir the 2008 crisis never ended
back in the days it did. now of days they quant generate then quant delete when they are done with it
@@dvened it could have ended then, with globalism crashing and the need to start over, but things were dragged out for 10 years, then a distraction happened, and now it's only more obvious that things are going to crash.
It's kind of like compressing a spring that you know you won't be able to compress. You try, you delay the inevitable, then it still happens but now you are also tired.
whats crazy about Spain is that their money was silver and gold and they still had hyperinflation because the amount of silver was greater than the amount of goods
Your conclusions were so sweet. I was nervous you wouldnt go hard at the end but you did and I am thankful for it.
0% interest rates for over a decade, bailouts and money printer go brrrr........
A wise person once told me that America is a capitalist for the poor but a socialist for the rich with all the bailouts
“Big muny mach-sheen go BRRUAAUPPP!” 🥴
actually 2008 crisis never ended
@@davemccage7918 Somebody been watching Aaron Clarey. Just embrace the peace and quiet in your porch while it all burns, take a sip from your beverage, light a cigar and tell all - "I told ya so" 😂
money printer go brrrr........ and convinced China to liquidate their dollar reserves.
A single wide trailer is now 80-90k plus you have to rent the lot. that is absolutely crazy.
Add $100K to that and $1,000/mo+ for lot rent where I live.
Bought a SW in fair shape in 2006 for $76k. Attached to 1.25 acres. Was lucky enough to be able to secure an additional 1.25 acre lot four years ago for an additional $20k. Don’t believe that can be done today, even in West Virginia or Mississippi.
You don't have to be an economist, when your income hasn't increased, while energy, food, and all other necessities have at least doubled, to see that our economy is shit!
00:01 Perception of economy differs between general public and experts
02:23 Confusing measurement with the thing itself leads to absurd results in the economy.
06:43 Normal Americans' lives have gotten vastly poorer since 1970.
08:40 Society's rapid narrative shifts are concerning
12:54 Society's well-being is tied closely to the economy's performance.
15:11 Inflation disproportionately affects lower class Americans.
19:09 Labor and Capital imbalances are driving economic disparities
21:06 Current economic issues may lead to a revolution instead of being remembered as economic problems.
24:54 The economy is built on false premises
26:48 Unprecedented money printing and lack of understanding in economic decision-makers
30:41 Government interference in the economy is turning the populace into permanent renters and indebted individuals.
32:26 Economic regulations favor large corporations over small businesses.
36:01 Government stimulus is like drinking, providing short-term relief but leading to worse consequences.
37:50 Challenges and complexities of the economy
Amazing, keep it up, I do have a thing to say, I noticed that a lot of conservative or just non-leftist youtubers are not only not recommended, given a voice, or shown in the listings, but also that videos that actively denounce things like conservatism, traditionalism, and masculinity are actively pushed by the algorithm, I personally have a theory that ideas of toxic individualism and ultra-progressivism are actively supported and pushed out by the establishment. Just a hunch, anyways keep up the good work.
edit: I think I need to clear this up, but I don't think it's just the algorithm because even on guest accounts, I see that certain more progressive channels are pushed more than conservative ones even without any watch history or frequently viewed channels
I see lefty videos promoted but conservative videos being hidden is cope. I didn’t serch up anything and I was presented red pill, conservative content, ect.
And what's going to be the backlash to all of this? Best case scenario we see a highly traditional future, a peaceful transition and things go quietly back to normal, Worst case scenario, We get a full blown actual Fascist revolution in multiple different countries out of the anger of young men and women.
Phishing for phools: The economics of manipulation and deception. George A. Akerlof and Robert J. Shiller
Really? My youtube recommendations are full of what you first had described
@@napinkpa They are sending content to some, and different content to others. Sowing division keeps us all apart, and them on top.
It's like older people not being able to wrap their heads around how someone that's almost 30 is living at home while working a full time skilled job and a masters degree in their field under their belt.
This video is really vindicating because i'd get frustrated with how detached from reality and unable to see outside their own experience most people seem to be.
The average income for someone with a masters was increasing in real dollars from 1980-2020.
No, they can't. In the 90s, I had the same position at the same organization as my mentor previously had 15 years prior. I explained to him that he was able to afford a stay-at-home wife, a small home, and kids on his salary. At that time, I could afford a nice duplex and a dog. I told him that I could see the direction things were going and that in 15 more years, the next person taking that job could afford an apartment and a cat and, 15 years after that, a tent and a fish. He just laughed, but I was absolutely right. The signs were there, but no one listened to those of us who pointed them out. I can only tell you that this Boomer tried her best to wake people up, but most wanted to stay asleep in bed.
I've worked with much older people and some of them recognise and sympathise with younger people. It's not an individual boomer's fault that housing costs have skyrocketed and real wages have plummeted.
@@wittymystic7361 Way more foresight than most ✅
@@nikobellic570 No it’s not, and I’m not blaming them. The general population of boomers just lived out their lives not intentionally harming anyone. I’m just saying that a lot of them can’t really grasp the current situation.
very well made, quality material right here, and im not usually the one to praise material on YT with so many videos. Keep it up
I say this as someone working on a Master's in data science, epistemologically the only difference between scientific evidence and anecdotal evidence is the level of examination and review it's undergone. Statistics are not a hard science despite what people might think, our measures of what is significant are based on pragmatism and not any concrete philosophical standard. Stats are just a tool to explain the world and not absolute reality. If anecdotal evidence is universal and is heavily analyzed, it's just as valid as empirical evidence.
As someone with a Master's degree in Industrial Engineering with a focus in data analysis (among other things), I don't necessarily disagree with this, but I think this can be a bit misleading.
Statistical tests are about the hardest science you can be; they're basically pure math. Choosing which statistical tests to perform, and on which data sets, is where I agree that this is more art than science.
@@NemisCassander "There are lies, ****** lies... And statistics."
I know statistics can be incredibly useful, however they are also incredibly easy to manipulate.
@@laststand6420 Always a good one. More germane to this specific topic, perhaps, is, 'Figures don't lie, but liars will figure.'
If anecdotal evidence is universal, it's not anecdotal
@@NemisCassander Haha, I will have to remember that one
dont forget that when 1 guy works 3 jobs that counts as 3 employed people for those statistics
That is not true WRT unemployment or labor participation. However, it does count toward job creation claims. However, the person that works 10 hours a week counts as being employed. And the person who doesn't bother to look for a job, whether because they are black listed, or a have a drug record or an addiction, doesn't count as being unemployed. Same with the guy who gets social security disability, who's main disability is in getting hired and keeping a job.
USSR had 100% employment rate lol
btw we are being encouraged to do this. so a top 10% earner is actually 2x top 10% earners, you do the math
Man, i love how you form your ideas and arguments. It feels relieving.
great video very knowledgable and informative! instant fan - ill be checking the book recommendations 👍
The GASLIGHTING is so real, and the masses so oblivious.
Getting off the Gold Standard in the 1970s is when this whole mess started. Endlessly printing money is a bad idea.
Gold makes money actually worth something.
Gold standard led to a lot people wanting to take over other people and take their gold. Now it's a weird type of money stability game
Yep
Red herring. The issue is basing your entire banking system on debt. That was happening prior to the gold standard being abandoned.
@@ericfromengYep. Nixon was funding for LBJ's programs and the cost of the Vietnam War.
In short: Our economy spun out and we can pin it on Lee Harvey Oswald and the French Colonial interests in Southeast Asia.
Your grasp of the issues is startling ,you SIR are a true scholar.
Very, very good video, best one yet!
You are getting better my friend.
Have been watching you grow over time, piecing things together, adapting and changing and bringing even better perspectives and understanding to your videos.
Keep up the good work!
In my environment, rural Netherlands, I have seen wildlife withering away. When I was 20 years old, a lot of plants ans small animals that were common when I was 8 years old, had disappeared.
When I would bring this up in conversations, my peers would deny this and say they never noticed anything disappearing. They don't (seem to) care and therefore they don't see it happening.
What an interesting perspective. I am from the Netherlands too, but from an urban place.
What do you think might be a cause of this? So you think nitrogen pollution has something to do with it?
I am asking because as far as I understand many in rural NL say that nature is fine and there are no problems and we should oppose attempts to protect nature. I could have said that with more nuance so please forgive me. I was just wondering what is your perspective on the decline of nature and this separately on this polarising topic of nitrogen pollution.
@@nielskorpel8860"Protecting nature" typically comes from urbanites who wouldn't know nature if it hit them in the face.
@@nielskorpel8860 Well I think the main reason for the decline of the environment in the Netherlands is the ongoing intensification of agriculture. Many other problems, like nitrogen, waterpolution, etc all start with that.
If farmers and investors need to have a growing profit each year, sooner or later something's got to give. For now, its nature that does the suffering. If they want things to be sustainable for the future, agro wil have to change its ways.
Even our government wil have to realise this sooner or later.
They choose to see no evil.
@@michielbrons1430 100% agreed and very well described ( i'm also a Dutchy, a city boy with the luck of having rural grandparents) but be careful with that word sustainable, its been hijjacked by rulers/politicians into creating more taxation that flows directly into the pockets of the people who are responsable for this system of a down.
Way back a well recognized trader named Bill Bonner and his friend Addison Wiggins did research into 600 fiat currencies to determine their use and outcome over periods of time. They discovered that all fiat currencies end in the same place ... zero! I didn't understand how at that point in time. Watching government actions since 2008 has clearly show why this is so.
Yeah, still, most of economic activities have been conducted under fiat currencies. The quality of the economy is governed by how fast they go to zero. Although I'm a fan of commodity money, they seem to deteriorate to fiat, and you will find also that 100% of commodity moneys have failed through various combinations of debasement, manipulation, theft, or progression to fiat.
Bravo Rich ... the key word is debasement ... you know how diligent government leaders are. :-)
Well. All fiat currencies are already zero. You just haven’t realized it yet.
@@richdobbs6595The only way to prevent this is a honest government working in the interest of its people. Which is obviously quite rare. Most governments today are mere puppets of wealthy people that own the fiat money supply.
That’s as insightful as saying “All empires fall”. Obviously they all go to zero. The question is when.
Mirror world. For me, what we’re told is a kind of “opposite barometer “ in a way. If it’s pushed… truth of the matter is probably the opposite. I enjoy your work. Thank you. Great job. Nice to hear logical, conceptual thinking.
Thanks for the book list in the description 🙏😁
The biggest indicator of the stagnant/falling real wages since the 70s has been beef consumption. If you take the two graphs they basically line up perfectly. While meat consumption overall has gone up it is basically all chicken, the cheapest meat, while pork consumption is relatively steady. The experts say this is due to changing tastes and society, as in working women don't have several hours to make a roast beef but have several hours to roast a chicken? There's also several beef recipes that are just as simple and easy to cook as chicken, like burgers, meatballs, steaks, and the like, but people opt for chicken not because they like it better but because it's cheaper. I know because that's what I do, chicken is $1.18 a pound but they want ~$5 a pound for ground beef, $6 a pound for chuck roast, and $13 a pound for Ribeye or Strip.
I'd much rather eat steak but same as you, I just can't afford it so chicken it is.
Gee, where do you shop ac. Near me chicken thighs/drums are $2.99/lb and breast is $3.49/lb, 80% hamburger is 5.99/lb. This is at the regional supermarket chains, not Whole Foods.
@@evancourtney7746 Winco/Costco, Whole chickens fluctuate between $0.99 and $1.25, while legs and thighs generally don't go higher than $1.60 and are usually lower most of the time. But even they still sell ground beef at ~$5 a pound.
I opt for venison over anything else🤣
The climate fear mongers crying about cow farts have impacted beef production as well as the cost of pasture land. It is far more efficient and cost effective e to raise a million chickens in a factory building taking up 5 acres of land than raising a hundred thousand head of cattle on a million acres of land even though the meat of the cattle will feed more mouths in the long run and would be more profitable.
The most powerful line in 1984 is "The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command."
They're lying and have been for a while. We all follow whatever they make up. It's sad. And if you think we don't, everything you're wearing, your phone, drinks, cars, money, economy, etc. was all someone else's idea. Tell me an original thought not based off of money you use daily.
Ill wait.
lot of information. Going to have to rewatch and possibly take notes