The National Debt: Last Week Tonight with John Oliver (HBO)
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- čas přidán 3. 04. 2021
- The national debt has long been portrayed as a burden we’re placing on future generations. John Oliver discusses how national debt works, why people are so concerned about it, and why it might be more helpful that you think.
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"If he's willing to dig a big hole, he's willing to dig a small one" might be the funniest and darkest joke I've ever heard from this show.
It was very Casino like. Your gonna be digging fucking holes all day.
The small one was for Joe pesci
Yeh - that man spent a LOT of his childhood reading Roald Dahl. Under the covers, late at night.
I saw this comment before I heard the line and I was still not prepared
💯
10:00 Each time a clip of Sarah Palin is shown, I have to remind myself that she's a real person and not a character Tina Fey made up for Saturday Night Live.
I mean, for all we know, she is a character Tina Fey made up, and there is no real Sarah Palin. It's just as likely.
Same!
If only that were the case
@@Mediaright Don't tease. The world isn't that kind.
Republicans 🤦🤪
"loveable little human rights violation" is the best description ive heard for G Bush
I just want to call everyone's attention to the fact that John Oliver just called Ronald Reagan "America's hottest little slut," called George W. Bush a "lovable little human rights violation," and referred to the Trumpster fire as "this fucking guy."
I have no words for how much joy that brings me. It is truly an indescribable happiness, and it's a perfect example of why I've been a fan of this show from day one. Bravo, sir. You have my admiration, and my viewership for life.
"the Trumpster fire" roflho love it!!!
@@elaineb7065
I wish I could claim it as an original.
I don't know if he's the first one to say it or not, but I borrowed it from an old friend of mine from school twenty years ago, who is now involved with our town's local government (I think - his dad used to be mayor, I'm not sure what position my friend holds...if he even holds one. But I think he does.)
I'm glad you liked it, though. Cheers!
“I have frequently not had sex due to lots of peoples’ personal choices.”
My new favorite explanation for being single
Yeah, that one made me laugh out loud.
And put like that, it even includes making the choice yourself.
And then I realised John has wife, and it got awkward :I And quite sad.
@@igorhq1 g g go rrbb high
Am man a
"I would have been married now, but my parents in law chose to not have children"
"I'm single by choice. Not my choice, but someones."
As a Greek person living in Athens, i can't believe that when seeing those images of riots i immediately recognized the dog and went HEY! THAT'S LOUKANIKOS!! Not the buildings, not the screams, nope, the dog! Loukanikos (=sausage) was a stray dog that took part in countless riots ALWAYS by our side, barking at the police.
RIP Loukanikos, in our hearts forever
The dog is what stood out most to me..in all that chaos I was like look at that puppers trying to play fetch w those tear gas? cannisters.
RIP Loukanikos
That dog is a treasure
RIP you beautiful bastard. Mad respect 🔥
I completely understand that is what you picked up.
It sounds like he was more than just a good boy. He sounds like a fucking Legend.
The number of times John has probably taught little children new swears brings me joy
I love the idea that John's kid(s) will grow up with all sorts of odd things in their home, from the pillows (
To be fair that mug is awesome.
They stay in the studio. The same with mascots like Jeff the Diseased Lung (from the Smoking episode) and the Squirrel (from the eat s..t Bob episode)
@@PhilM4 How do you know this? Do you work in the studio? If TV is anything like theatre, then one is allowed to take certain props home after a production run is over, provided they're unlikely to be needed for any future productions. I, for example, have a pack of fake cigarettes that light up and emit smoke when you puff on them. Don't ask me why. I just do. Lol.
That poem was so close to being decent::
“Borrow, Borrow, Borrow
Enjoy today
At the price of tomorrow”
But, as he explained in the video, I presume you just watched, that is not how debt works. So it may have come out more iambic pentameter, but that doesn't make it good.
@@Robert_McGarry_Poems So,
Borrow, borrow, borrow,
At a simple price of "low",
for a better tomorrow.
Carpe diem
@@Robert_McGarry_Poems and he (Oliver) dont know what the fuck he's talking about. His handlers need to stop beating him in the thumbnails.
@@duyduhh3798 what is he talking about for 22 minutes with explanation on every point on one topic?
“If he’s willing to dig a big hole, he’s willing to dig a small one.” 😂
I died when he said that 😂
@@RichardCookerly I think we need another hole
Dark AF. 😂😂
@@simonwyzik8661 don't worry, im making one. Just. For. You. 🙂
@@simonwyzik8661 can never have too many holes!
"If he's willing to dig a big hole, he's willing to dig a small one." So true 😂😂😂
John Oliver is the reason why I can instantly recognise Ted Cruz on any photo (whilst mumbling to myself: I don't like that man...) 🤣 x
"Politicians have traditionally hidden behind three things: the flag, the bible and children." - George Carlin
and weapons. that describes the usa perfectly. in 2021 politics are still hiding behind the bible and jesus.
Exactly
Just ask Matt Gaetz about hiding behind children.
Children make for a bad meat shield.
Veterans are at least thicker.
Now add to that: The National Debt!
ngl "if they are willing to dig a big hole they are willing to dig a small one as well" is life advice i think more people need
I'd like to think that applies to metaphorical holes as well.
That line has me in stitches 🤣😂
🤣🤣🤣
@@lifeisshortdontwasteitread2830 not sure that works the other way around. Someone who robs a bank would have no problem shoplifting a candy bar, but I doubt the average shoplifter would be willing to go as far as robbing a bank.
@@lifeisshortdontwasteitread2830 the small hole is dug during the creation of the big hole. It doesn't work in reverse.
This needs an updated version
True.
I would love to see the children reading those lines at the end lol.
7:45 Johnny Carson casually interrupting the president while he's speaking. Hell of a flex.
"We have to reduce this terrible burden on future generations"
*Plan to cut greenhouse gases*
"No not like that"
*Plan to curb the spread of Covid-19*
No not like that
*Plan to issue more gun control legislation to decrease the number of firearm deaths*
No not like that
*Plan to create more voter disenfranchisement by issuing stricter ID requirements and reducing the number of polling stations*
No not like- Actually, hold on, this one sounds interesting...
Dems: "Let's invest in more affordable housing, the electrical grid to keep the power and AC/heat on, and public waterworks because people need water to live."
Pubs: "NO! Those things aren't roads and bridges!!!!"
I look forward to you buying 3x less manufactured products at twice the price. Won't bother me, it will bother you.
@@duyduhh3798 I look forward to you learning about the concept of externalities lmao
@@duyduhh3798 Prices would be a whole lot lower now if we just enslaved people instead of paying them a fair wage. Should we do that as well?
The fact that John Oliver went full Dr Seuss, on a man that has read Green Eggs and Ham as a filibuster, twice at least, is not lost on me.
it’s a recurring bit, I believe John first did one after showing that filibuster clip, and then has been doing one every time he shows a clip of Cruz saying something stupid.
"He does not like that man Ted Cruz."
"He does not like that man after some booze."
and cruze complete missed the point of green eggs and ham (try it you might like it)
YAS!! i caught that and BOY was it spicy
Yeah, there's three Ted Cruz poems now
Who else is loving these Last Week Tonight clips without a studio audience? Just straight facts without a need to pander for fake laughter. John Oliver keeping it 💯
I am actually happy you looked into Modern Money Theory (MMT) to put the debt and deficits into context. Well researched, well done.
The debt myth is the biggest lie sold to the American people and the world.
If we replace the tangled mess of conventional economic wisdom that dominates peoples understanding with the simple, logical, and intuitive model of MMT we would be in a different world, regardless of what policies that leads to.
Idk if it was nuanced though. MMT is STILL a fringe theory.
@@stanleywang7367 I agree. Everything is theory. Evolution, big bang, etc. A good theory seems to describe events and make predictions well enough. I think MMT does that, at least mechanically and not necessarily of human behavior. MMT didn't predict hyperinflation during the financial crisis, when in fact MMT offered reasons for it not happening. It's the best description of the banking system I am aware of. In theory...LOL
@@RoobieRhoo MMT is not a description of the banking system today. It is a prescription of how the central bank SHOULD be run.
@@stanleywang7367 Yes, it deals heavily with central banking. And proposes a few other items like a job guarantee which are, of course,, controversial. Personally, I prefer to leave ideology out of it and focus on the mechanics of the theory like investing in our future and the debt it requires. I do appreciate our chat.
I know he hasn't heard this much in his life, but it's something he is finally due:
"Nice haircut John"
YES! I was thinking I really like it and the color
I actually liked his older style more.
I liked him better in season 1, with the overworked public defender vibe.
Indeed!
I called dibs on sexy news daddy.
I get the feeling that John has a closet that’s just filled with random products he buys for the show.
I think it has surpassed a measly closet by now.
More like a warehouse
A man cave full of Nick Cage Banana pillows, wax presidents and that Eat Shit Bob squirrel costume.
Don't tell HBO
either that or he has a closet filled with random products that he forces them to put into the show to justify the purchase lol
Great explanation John! You called our current economy we are in now. Raising interest rebates and the replicants want to cut social programs which help Americans who have fallen on hard times.
either you are dumb or brainwashed. Like seriously, how can someone believe this garbage? Even a 5 year old understand that debts astronomically disproportional to income is a recipe for disaster.
And the elderly, everyone gets old and a very large amount of those people are going to need social security it's a fact. throwing away money on stupid shit like walls. will only be a never ending nightmare to build and maintain it for no good reason. that's a losing proposition.
I worked for the Durst family and I’m so happy he squeezed a dig at them lol
i need a compilation of all the "I do not like ted cruz" poems, cause lmao
I second this 😂
I think there have just been two
The Al Franken line in his autobiography about Ted Cruz "I like Ted Cruz more than most of my other colleagues like Ted Cruz. And I hate Ted Cruz.” is just perfect.
@@ZacksRockingLifestyle At least three. One when he showed Cruz's stupid poem, one afterwards in one show since then and this is the third one.
There is a youtube video that has all but this one on it, I expect it to be updated soon.
"Anyone willing to dig a big hole, is willing to dig a small one" is absolute gold
He's def not wrong though
yes! and then "Run away and tell and adult...a non costumed adult" XD
Man I laughed so hard my stomach hurts!!!
Would've gone with "a slightly bigger hole" personally
Definitely the quote of the week
I'm sorry, but that "that's not a clock!" kid is hilarious. Loved the bit at the end.
I'm glad you said "WE" John. You're in this too. And thanks for volunteering.
"This loveable little human rights violation" - I spat my coffee!
this one got me too
I hate Trump, amongst other things, because he made me forget how much I hated the Bushes.
Everyone hates him
@@Myawesomeguineapig Except the 74 million people who voted for him, apparently.
To think our education system has failed 74 million...
“And your great grandchildren!” *cuts to footage of children putting flowers on a grave*
*Great grandchildren.
Didn't catch that the first time, that's hilarious xD
As someone at the grand-children age, I really want to point out they were making the same stupid the debt is too big and disaster is imminent advertisements when I was a small child 60 years ago. Oliver could have also pointed out that coming out the second world war, the UK's national debt was twice it's GDP. Of course it's debt never went down, just as ours hasn't, instead the GDP grew with growth and inflation and that huge debt became something not worth worrying about - the same joke Mike Myers made with Dr Evil demanding 100 billion dollars in 2010 and getting yawns.
That was my favorite moment
@@hwvrg "You paid for it with inflation" is actually a great way of pointing out that inflation, like deflation, is neither good nor bad on its own-actually, inflation can be really good for people who don't have a ton of money or who are in debt, i.e., most people nowadays. "What was a dollar worth?" Sure, good question. Now tell me what the average wage was.
(And yes, wage growth has still stagnated overall, but us leftists have been trying to tell people to raise the minimum wage and support unions for the last thirty years-don't blame us for Reagan's and Thatcher's mess.)
... also, what? "Demographic change is the greatest debt"? What does that even mean?
I love how the video went to a grave when they said ‘great-grandchildren’. Quality
"A state with a permanently broader and deeper reach across the economy creates some opportunities. Low rates make it cheaper for the government to borrow to build new infrastructure, from research labs to electricity grids, that will boost growth and tackle threats such as pandemics and climate change. As societies age, rising spending on health and pensions is inevitable-if the resulting deficits help provide a necessary stimulus to the economy, all the more reason to embrace them."
-From the Economist
"I was worried that my wife would get jealous, so this one is to replace my wife."
Pragmatic.
😂😂😂
Well, atleast he has something to hold on when he has to sleep on the couch^^
Is it just me or did it sound like he was surpressing a laugh right after he said this line?
@@jiehuanchua9551 He totally was, even while he changed topic he was still smirking about it.
I bet his wife thinks all his crazy spending decisions are hilarious.
On the children bit at the end, I died when they were saying "great-grandchildren" and it cut to a brief scene of them placing flowers on a grave.
I am so glad someone else noticed that lol
dude i lost it when I saw that. Comedic genius
Also the urn with ashes at 21:05 - someone is pessimistic about the end of the pandemic
Check out the dates on the urns when they talk about buying precious family heirlooms.
So those were for you?
"The National Debt is money the government has spent and not taxed back yet" - Warren Mosler #LearnMMT
Thank you! I wish people would learn more about the perspective of MMT (Modern Monetary Theory) on a sovereign nation's debt. "The Deficit Myth" - Stephanie Kelton. stephaniekelton.com/book/
Correct. And that tax bill is coming to you.
Absolutely right. Also, national debt = private asset. That's right, the country's "debt" is the money in your pocket, in your pension fund, in your paychecks. Want to balance the books? Then you're asking for tax raises.
@@AndyTannerSmith Based.
@@rpospeedwagon Why don't we go back to the good old days? Those sleek black cars, men in hats, 90% tax rate on the elite and corporations. Just like home. Good old days of paradise.
The kids they find for these commercials are a real delight and just nail it every time!
"We're not as scared of being born into debt as we are being born into a country that didn't invest into our future." powerful asf
yeah, The gov should have taken debt to create a basic allowance for people like what yang said. everyone in america should receive money from government, not the other way around.
@@BlasaGo Where does government get the money?
@@nicoleblack438 the Same place it has gotten all money since we ditched the gold standard in the 70's. The vacuum energy of the universe.
Look up "Modern Monetary Theory"
debt is meaningless so long as we are expanding our real resources. education level and health of a labor force are resources.
@@nicoleblack438 It creates it out of thin air. Money is worth what the government says it is worth. There is no reason not to have UBI.
Sophistry as fuck, since children know nothing about these concepts.
Calling it now: Nick Cage is going to make an appearance at the end of the year in an Adam Driver-fashion
Oh god please i want this
omg yessss
Nick Cage is crazy enough to do whatever wild stuff Jon wants. I need to see it happen. Is Cage on Twitter?
🤣🤣🤣
And he’ll go crazy in a way that only he can
"I feel like that kid's speech is speeding up... Where is this gag going?" Cue dark music and ominous voice filter.
I laughed from somewhere between the back of my throat and the depths of my sinuses.
Well this aged well…
in what sense?
Yeah, the inflation did happen 😮
"This little human rights violator" is now one of my new favorite nicknames.
The quote is:
"Lovable Human Rights Violator."
@@SolaceEasy actually, it's "lovable little human rights violation"
Also kinda like "this f@#$ing guy"
"who's a good little human rights violator"? That's right, you are!
It’s a very accurate nickname for 43
"I was afraid my wife would get jealous, so this one is to replace my wife." 😂
Classic Henny Youngman humor.
INTEREST RATES ARE LOW BECAUSE THE FED KEEPS BUYING UP BONDS.
you can almost see him smile as well...
"a non-costumed adult" killed me
"loveable little human rights violation"
What a phrase 😂
It is delightful to realize he probably charged those two pillows to HBO as a business expense.
Also remarkable how John gayliver invents topics to divert from British Royal Family racism
@@abhi739 ???
@@abhi739 you must work for Newsmax...?
@@abhi739 gayliver?
@@abhi739 . . . you do realize the show consists of more than the clips uploaded to this channel, right? He did a segment back in March to address the interview and was firmly against the royal family.
I love existential dread day with Zazu bird face.
This comment wins
We have
You mean the nimated wax figure Sherlock Holmes guy or the guy that looks like Ian Duncan from Greendale Community college?
If you’d just watch the episode you know that there is no dread and the dread is actually all fake, you’re buying into the ridiculous scaremongering about the debt lol
Brittish MillHouse cut his hair.
definitely need a “national debt II”
Financial Boogaloo
I would like too see John revisit the National Dedt. He pointed out that the two things we had to be concerned about with a large dedt are rising interest rates and inflation, both of which are increasing at historical rates. At the time he filmed this segment both were very low.
I mean, maybe if he did a segment on the current economic conditions some of the trogs could stop spewing nonsense, but it doesn't really change anything said here.
Yeah, this segment aged like milk
Yeah, US is on the verge of defaulting and that is going to be one hell of a ride and there is no getting off.
Oh man! I love when Oliver does "Ted Cruz Rhymes" 🤣🤣🤣🤣
I wish he made a book out of them 😆
"I have frequently not had sex due to lots of people's personal choices." Sir, you have just summed up my life.
Bruh, its dry out here on these streets.....
By personally choosing not to sleep with you. Lol
Self depreciating humor to mask actual sad situation
Appreciate all of the STDs you've missed out on...
@@xseqer6770 My boyfriend thought he had herpes and we were worried as hell but it was litterally just acne...
looking at this again at the end of 2021....
I wonder how much the show sets aside to buy the merchandise that John Oliver shows for about 2 seconds😂😂😂😂
John Oliver’s poems will never get old
The only national debt issue worth worrying about is the bottomless pit of military spending. For an analysis on how the Military Industrial Complex controls America, check out my latest video.
13:06
As GOP-senators and representatives.
We need more Ted Cruz poems
Someone please make a compilation of that poem!!!
+"Please uncle Sam, stop digging", -"BUT I SMELL OIL!"
Uncle Sam thought Breaking Bad was a documentary, and didn't see the whole series. (He was looking for Walter White's barrels of cash.)
DID SOMEONE SAY OIL???
America’s system for conducting death investigations is a mess. John Oliver explains why we should all be a little more concerned about fixing it.
Yep, they digged and now produce more than Arabia. Before, they imported it and always paid for it, even from Irak.
I love that final message sooooo much!💖
“We care about the children so much that we’ll give tax cuts to the wealthy, run on cutting inheritance tax and rig the system against upward mobility by allowing a minority of Americans to accumulate the majority of wealth. We do care about the children, but just a very few select children”
"we care about their ability to flip burgers and buy iPhones"
Exactly
That some good "pro-life!"
"If he's willing to dig a big hole, he's willing to dig a small hole," Thanks for that!!!
Ya right, big holes that's something you know about.
As anyone who has seen the movie Casino knows: "You gotta do it right, I mean you gotta have the hole already dug before you show up with a package in the trunk!"
As someone who had to dig a fox holes and a fighting positions, it's not incorrect lol
Lolololol
I laughed so hard at that.
I cry with laughter every time John recites a Dr.Seuss-esque poem when Ted Cruz is mentioned lol it's like a running joke on this show at this point
It's because of the time ted cruz read green eggs and ham to filibuster.
It makes me chuckle every single time.
That last line was just perfect
@@cardiganweather that wasn't even a true filibuster
The problem is the regular people can't afford their house, then living due to inflation or things getting more difficult to buy or own.
and yet, the US feel entitled to burden 3rd world countries like mine (Argentina) with huge interest rates
says who? us poor people always get screwed in u.s. and just about everywhere. its nothing new.
+
They are actually afraid about the consequences for their children??????
*Climate crisis:* let me introduce myself
"Liberal Science" is probably their response
Do they really think that cooperation will want to spend money and manfacture stuff If the roads are crumbling, the bridges collaps, with recurrent power outages. If americans are not well educated, they will time containers or leave the country.
The children will suffer If you don't invest.
"think of the children" is the classic white supremacist argument to try and convince themselves that they're somehow not white supremacists while doing white supremacy.
@@FaeQueenCory Yea, for all 4 white supremacists in America. White supremacists are not a meaningful threat.
They are both problems, honestly.
It's only 10 AM Pacific Time, but it's still always too early to listen to Sarah Palin.
and always too sober
I already watched this shit on HBO MAX at 1 AM Eastern Time and it was still too early
Still can't believe McCain tried to pull that one on us. Wft was he thinking? 😭
Her voice is like pouring acid into my ears.
I apologize on behalf of all Alaskans.
One year later, raging inflation, stock market takes a dive, more printing... we are fvcked.
It's almost like large scale pandemics tend to, you know, be game-changers.
Imagine what would happen if we got hit by a plague a little more like those of old.
The genius of cutting W. Bush down to a " loveable little human rights violation"😂😂😂Outstanding! 🍻 to the writer of that one!
spare a thought for John's wife, signing a delivery thinking: "what did that Idiot order now?"
I'm pretty sure she's into it. Me and my partner are always trying to out-weird and out-insult each other.
Love each other and lift each other up in life and make each other happy, but we're compatible in our weirdness.
Kinda like them, more or less.
Bold of you to assume that John didn't wait at the door all night for the package to arrive from the overnight delivery he probably paid a bunch extra for.
@@ThePinkBinks that’s the only way to lead a relationship tbh. If you can’t playfully make fun of each other every now and then
Ryan Carter Well it's our version of playful yeah. 😂 You know the relationship John Cleese has with his wife? (The current wife he actually gets on with.) They mercilessly rip each other to shreds verbally with silliness. Plenty of interesting insults too. Me and my partner aren't so different. We're best friends though and it keeps life interesting. 🙃 It makes us laugh.
I do love that complete and utter weirdo. 😊
@@ThePinkBinks Listen, he may be a weirdo... but he's my weirdo. There, I did it for you.
In the great words of Michael Che : "Weeeeee don't owe china shit, you owe china. Weeee owe sprint 90 dollars"
Edit: if you wanna hear him say it it's "lying on your resume, paying taxes and the history of sexting" on youtube, somewhere in the middle of the video.
I can even hear that in his voice. *chefs kiss*
I never heard this joke before and I’m so glad you shared this lol
Despite not having heard him say that exact joke, I still read it in his voice so easily. So good.
Gooold
That was the drunk weekend update show. Him and Colin are gold
That bridgerton joke about not finnishing crap is gold 😂
That was the greatest Christmas Carol dr sues rhyme
"I thought my wife would get jealous, so I got a second pillow... to replace my wife." THAT is a genius throwaway joke. Is it just me? Ideal misdirection.
That line was great!! 😂😂😂
You’re right. I usually cringe at his jokes lately, but this one really got me. 😄
honestly, this one I saw coming, but that's probably because “I have frequently not had sex due to lots of peoples’ personal choices.” was aiming in a similar direction. Here's more misdirection: My female roommate got pissed at me, because I walked in on her masturbating. She yelled "why are you walking around the house masturbating, you sick fuck!?" --- some meme on the internet I recently saw.
I'm finding it hard to connect to that one. Married to a pillow?? Maybe that's why it went way over my head. 😊
You probably love Anthony Jeselnik, he is one of the best at those.
“This lovable little human rights violation” I’m in TEARS
@wnnalis cioov a4
It is interesting that every single Republican president was demonstrably worse than the one before, going back to at Eisenhower. I still can't believe Reagan wasn't impeached for Iran Contra
Be right back, going to watch Biden bomb the sh*t out of Syria.
My favorite graphing calculator is the ti-83 plus, used it for all 4 years of american highschool
Great summary
He seems to be in a slightly better mood. I actually laughed when he pulled out that second pillow and said that it's replacing his wife lol.
Not having every week of his show be "what bullshit is happening in the White House this week" is probably a major boost to his spirits.
@@Christopher_TG Can relate!
@@Christopher_TG it’s been calm
thats the power of the Nicholas cage pillow
He has been in a better mood since the elections and its related drama wrapped up. Its so nice to see him happy again 🥰
"I have not had sex due to lots of peoples personal choices" Me too me too
noble1266 17:25 "No cracks!"🥁
[crickets]
I'll show myself out.
I felt personally attacked
Same, also due to my own choices. What with never leaving my house and all...
Y'all still have sex?)/* I feel only people in government get laid.. likely by the "virtue" of state rape..)
#metoo
Imagine sitting at a speech given by Sarah palin 😂
I am thrown off from John trying to sooth fears instesd of create them😂😂
"I have frequently not had sex due to lots of people's personal choices" 🤣🤣🤣
I can relate to that...
Incel John confirmed
I am aware of the effect I have on women.
I get the same amounts of hugs during covid as I did in 2019. Zero
@@growmiegreenthumb8025 Awww... *offers virtual hug*
Am I glad to see his video? Yes.
Do I know I will be worried about the world at the end of it? Also, yes.
Now the only
P much
Bro ur so embarrassinggggg literally this episode is about how you shouldn’t worry about the debt lol
"It's the end of the world..."
Dr. Strangedebt or: How I Learned to Stop Worrying and Love the debt...
Those kids were priceless "grow the f up!"
21:05 I like how the urn shows John as dead 6 days before this episode was uploaded
I'm from Greece. We indeed had a debt issue. It was mostly caused by tax breaks to the rich, scandals involing politicians being bribed by corporations and a large military spending. The governments used the debt threat to enforce wage cuts, privatizations, less social spending and increase tax breaks to the rich. The debt is larger than ever, the poor became poorer and the rich became richer. That's what those riots were trying to stop. Sadly they didn't work, because each new government followed the same agenda.
Huh, sounds like every "third world country" government I've heard of.
The USA's included.
@@GrayAndGrey Do you know the definition of third world country? I am just wondering which ones you have heard of.
@@DaleHartley AMERICA BABY #1 THIRD WORLD COUNTRY WOOOO
When capitalists take over... it’s time to clean house.
Right. If I remember correctly debt is caused by spending money you don't have, not for lack of taking money that belongs to others. Boo hoo tax breaks for the rich caused all our problems. Waaa waaa capitalism is evil.
Try again.
"Run away and tell an adult, a non-costumed adult."
Batman will remember that.
Non-costumed adults rule out the cops as well, I guess. Probably for the best.
John shouldn't play any Telltale games.
@@JanusChristensen A police uniform is only a costume if the person wearing it ISN'T A POLICE OFFICER. If they are, it's not a costume: it's a UNIFORM.
batman isn't wearing a costume, its a disguise, stealth combat disguise.
@@antonyduhamel1166 but how do the kid know if it's and officer or a guy in a costume?
The reason why interest payments went down was to stimulate the economy. The problem with the debt is is we get inflation and the fed needs to up interest rates enough the US won’t be able to afford it’s payments. That would be a problem
The Fed raises interest rates by reducing the amount of loanable funds available, which is done by decreasing the money supply through open market operations-selling bonds. That's right: the interest rates are raised by the US Treasury taking on more debt. Money moves from the banks to the US Treasury, reducing the amount of reserve funds and thus the amount of money available to loan, changing the equilibrium point so the interest rates must go up to reduce the demand for loans.
Let's face it, John Oliver bought that Nicholas Cage pillow and looked for a reason to work it into the show.
And then the show was an excuse to buy a second one.
I guess that HBO's financial department stopped asking questions in regards to John Oliver's budget a long time ago.
@@melanopygus And you think that he only bought 2 and that the two he hugged are the same as the two on the chimney?
@@Velerios To be honest I'm a little surprised he didn't unveil a massive bed covered in Nicholas Cage pillows and sheets.
C'mon. He bought Russell Crowe's leather jock and pictures of rat f+-&ing... So if course he bought Nicholas Cage pillows. Lol
I love the random crap he buys just to insert for a bit. Mr. Oliver, you’re a treasure.
And helping our economy!
He doesn't buy crap, HBO buys it for him and then they recuperate all of it from this kind of engagement on youtube and elsewhere.
I don't. It gives money to the people making them -> they will make more. I hope there's an assistant somewhere getting these second hand or something. We really do not need more of that stuff on Earth.
One day his Studio with the accompanying "Stuff bought for a single show and then kept lying around" cupboard will turn the Truman Show into a true prediction and be visible from SPACE.... (okay with the right camera they already are, we're down to 2-3 inches resolutions already as far as the public knows, but that image assumes IMO the naked eye of an astronaut to actually "work" as announced)
I got to start making random crap just for John Oliver to buy! LOL
Great video. Awesome information
Basically, the government doesn't "borrow" money. It prints it. It owns the balance sheet. So we owe ourselves if you want to look at it that way. It's really just a measure of how much the economy has increased in size.
That's an oversimplification, lol. The nation can just increase it's money supply, but it devalues it's currency to do so AKA causes inflation.
It borrows money from both domestic and foreign entities. Domestically these are purchased because they offer interest, so are better than cash, and are essentially the most stable store of value in the world: basically, if the government stops paying the interest, it's because the US has collapsed, and if the US collapses, that's a global catastrophe.
Foreign entities generally buy them to secure a stable inflow of US dollars.
I think the real question here is how do I get a pillow of John Oliver hugging a Nick Cage Foxy pillow?
Screen cap the image, find a company online that puts pictures on cushion covers, tshirts etc and get it done.
Problem solved...
If you get one, you need to make sure to sell pillows of you hugging the pillow of John Oliver hugging the Nick Cage Foxy pillow, so that someone else can continue the trend of Nested Pillows infinitely.
Well, this was a refreshing change of pace. John usually spends 20+ minutes explaining why we're more fucked than we thought. I can't remember the last time he did the opposite.
Now that Trump is gone ,Everything is fixed , That's how JOHN thinks.
@@ZybarTanova Um, did you actually listen to what he said? He pointed out that BUSH SR. did a good job on the debt. A Republican. So... maybe stop looking at the world through orange colored glasses and pay attention.
@@djfhsusbruh6698 Your incredible telepathic abilities must be a terrible burden on you. How do you get through life when everyone's thoughts are so loud and hard to keep out. I pity you.
@@ZybarTanova He's criticized Biden pretty hard on previous episodes. I doubt you have anything to counter the info from this video.
*yeah this was some serious U-turn by John Oliver. I didn't expect this from him. How can he say debt is good if spent well, but this time he chose to not talk in detail about something .... you know what it is? Details about spending plans... Money promised by Senators to foreign mafias. Why do we need to help Pakistan's so-called "cancer studies or " when America is in trouble? John won't tell us that.*
Can you do a piece on inflation sometime soon? Especially now, because people REALLY need to have inflation explained to them.
Boy he was wrong, sure seams like we hiit the wall now.
Reality: it'd take you five minutes to go be educated to a basic level on what's going on right now, but you'd rather be a nazi drone.
As he said, if we hit inflation (as we now have) we need to cut the deficit by raising taxes on the wealthy.
@@jesseberg3271 You can not tax enough to cover waste. Ukraine for example the USA has given twice the money as ALL the EU combinded, let alone we paid a much larger portion of NATO then the EU. Bush 1 brought down the deficit even with the first Gulf War because he made the Saudi and Kwati government pay us which actually gave us a trade surplus for that quarter. You got to have government cuts. 1 million people died of Covid in the USA and we have 11,000 full time employees under Fauchi, could have killed that much with 1,000 employees. We are not getting our moneys worth.
@@jonhennemann4729 no, Bush I cut the deficit by _raising taxes._ That's also how he lost reelection, because it turned out Republicans didn't care about the deficit, they just wanted to hurt poor people
Clinton then eliminated the deficit by raising taxes, and then Bush II brought it back by cutting them. By the end of the Obama administration, the deficit had started to shrink, and then Trump blew it back up by cutting taxes, _before_ Covid had even begun.
We have seen a steady redistribution of wealth from the middle class to the wealthy in this country for the last forty years. You bet your @$$ we can afford to tax our way out of the mess we're in. We have a long way to go before we get back to the level of wealth inequality we had in the 1950s and 1960s. Eisenhower oversaw a top marginal tax rate of 92%, and Kennedy cut that to 70%, and the American economy has never been stronger.
"This lovable little human rights violation" 😂
But then came "this fucking guy"
My sentiments exactly
"This guy fucks" - Russ Hanneman
I thought he said "little human rights violator" but still, seems accurate. One reason USA is not part of Rome Statute is because a lot of its former Presidents and military commanders would be on trial before the International Criminal Court.
That is applicable to all the presidents he talked about.
Yes, Obama is a war criminal.
@@japphan no he isn`t. he just inherited bushs complete fuck up and had to deal with it.
'Looks at my TI-89 platinum' my god I just realized I have a favorite graphing calculator
Oh you use your TI-89 just for graphing? I use mine to play super mario bros!
TI-Nspire CX all the way 😁
I came into the comments just for this. Leave me and my ti-nspire alone John 😭
My Ti-84 CE has a special place in my heart
89 is where I learned how to program on, I used it to cheat in math lmao.
Thank you Sim City for teaching me this.
This video is going to age like the cheese I forgot in the back of my fridge. When the interest cost on your debt becomes insurmountable as the interests rates rise to try to fight off inflation, you'll be left with 2 options. Option 1 is to default on your debt, which is not going to happen as America is fueled not by energy but by debt. Option 2 is to inflate away the debt. Take a guess as to which one they picked already. Inflation is currently 8% in the headlines but many economists its much higher than that, all the while interest rates are only low single digits. We are inflating away the value of all that 28b of debt. 28b in debt is going to have half the value at current inflation rates in 9 years. Those holding those bonds will be left with principal that was not what they originally had expecting when making in the investment. In turn they will require a higher coupon to satisfy their risk/reward. This higher borrowing costs will 100% impact our children's generation for which we are spending on their healthcare and future. Like the smart guys say, we don't know for sure what will happen, but history tends to repeat itself eventually. Don't dumb it down into debt/gdp is meaningless as it's very obviously not to anyone who understands math. Oh and I can back this up through what I've said for the past 3 years, it's chilling how right I have been.
It's not as simple as one side's views are right and the other side is stupid. It appears we are surviving, but I am not sure what to do about it
@@justajumpingypsygirl Hold incoming producing assets that will be needed for decades. If inflation does or doesn't cause problems, you will still have an asset that is needed regardless.
That “Uhh yeah no” after the Sarah Palin clip was so genuine it sent me
Let's be real, it's the appropriate reaction every time she talks
She talks like someone who spends too much time around brain injury patients.
It's not accurate to american slavery but that was exactly what happened with slaves that pre-dated african expansion like the roman's for example. Back in the old days slavery had nothing to do with race and the way one became a slave was because they gained debt and never paid it back so they were forced into slavery to work off their debt.
@@luckyluke2671 thanks dad, I’ll make sure I let John Oliver know
@@luckyluke2671 Yes, but also no.
Yes, this is technically true, however it only holds true for certain cultures during certain periods of time.
His Ted Cruz rants in rhyme are always the highlight of the week :-D
They are so Doctor SUESS. (that's not a misspelling, that's the german word for SWEET)
When I saw Ted Cruz appear in this segment, I was hoping for more poetry. I was not disappointed. 😂
"I do not like this man Ted Cruz". If anyone says this ill immediately stop and listen to what they have to say.
@@Ugly_German_Truths well.... that would be "süß" or SÜSS (in capital letters) ;-)
This aged like milk... How's inflation going guys?
Holly Shit! That last clip of the children explaining the complexities of debt was so well done, it should be broadcast on a Jumbotron next to the "debt clock"...
"If he's willing to dig a big hole, he's willing to dig a small one." 😂
Best line.
..run do not walk...run away as fast as you can... this part was too funny ...I kept imagining the "it" clown...😂
I lived in Las Vegas for 13 years. I am glad that John Oliver, as well as Uncle Sam, gets us.
This sentence is so deep. Well done, writers. Go get the Emmys again.