How the U.S. Economy Just Lost 33% of its Value

[@EconomicsExplained]

Thanks as always for watching :D This video was requested by the team over on Patreon. If you want to have your say on what video is produced next please consider supporting the channel. www.patreon.com/EconomicsExplained

[@lankonthungezung9360]

Ok. Bruh

[@fatpotatoe6039]

Your conclusions and analysis sound eerily similar to the Austrian School

[@jamiainaga5853]

Great Info.

[@tubularmonkeymaniac]

Not sure if you’ve done it before. But a scenario where US hegemony completely collapses. What happens next, for the world and for the US?

[@hev360]

careful patreon might go belly up with all those arbitrations

[@MasterCoD124]

1929: The Great Depression 2020: The Big Sad

[@watema3381]

2021: The Bigger Sad

[@Condemn-Focus]

@@watema3381 I will be 2022 -99.9 percent GDP 2021 will be 66.9 percent get ready for economy collapses !!

[@postblitz]

The big cough!

[@keiranferrier3642]

2120: The Enormous Lament

[@randomlyrelatable1372]

Sad shaq

[@grmancool]

The US should just set a Patreon account

[@zyan983]

ikr

[@nobaso620]

😂😂😂😂

[@georgeroy9806]

@@zyan983 capitalism would disagree with you😁

[@skyscall]

taxes are just america's patreon account

[@vatu]

Nah dude, onlyfans is the way

[@jac7895]

A famous rich man once said the best time to buy is when there’s blood on the streets. Even if that blood is your own.

[@blyat7276]

the problems this quote has been said a billion times since 2008 so thats what everyone did which caused stock market to rise like crazy with the help of fed, which is far from blood on the streets.

[@redlorax5380]

Yeah. If you can buy stuff that is. This is why crisis furthers the gap

[@hepthegreat4005]

@@blyat7276 yup. But that's not blood in the streets yet. Itll come. I'm sitting on the sidelines until then.

[@Minastir1]

Too bad only a select few have the means to buy at that point.

[@shivamshahorignal]

Can't agree more!!!

[@fighder2]

"Children will live richer lives than their parents did." I had to pause and laugh...then cried :(

[@KateeAngel]

That idea was never viable on a long time scale. "Only lunatics and economists can believe in infinite growth on a finite planet". I would say: only lunatics, some of them just happen to also be economists

[@loganc2380]

We forget to mention that basically everyone now has a smartphone, which is significantly faster than the computers your parents (if they were lucky) were able to use when they were young. I hear people complaining about iPhone costing 1k (I mean it is ridiculous) but an IBM, Apple, or Microsoft personal computer 30-40 years ago cost closer to 3-4k, while being much less useful. And that's not including inflation, gradually increasing wages, and the much easier access to education/information. We have no right to complain... yeah the world is kind of a mess, but we have every opportunity to go and do something great. It's just a matter of starting

[@fighder2]

@@loganc2380 I don't think that logic holds up well. The medieval ages had it better than cavemen, and the great depression had it better than the medieval, so by your logic, no generation is bad, everything is always great. Also having a smartphone that everyone else also has decreases its value. The computer 30-40 years ago existed in limited numbers, and so its rarity combine with functionality that contributes to production gave it value. Just by having a computer 30-40 years ago, you gained a mean of production to provide a unique service only a few can provide. Now though, despite a significant increase in computing power in a smartphone or a computer, the sheer supply of those items has rendered them nonviable to be a item suited for production. The massive increase in population has caused many marketable assets and skills to be devalued. People, like any asset, decrease in value as the supply of them increase. When there are thousands of people capable of being a waiter or cashier, they become much more replaceable than when there is only hundreds of people.

[@loganc2380]

@@fighder2 I think you misunderstood my point. The main comment sarcastically mentioned how we live richer lives than our parents, and im just giving examples how our overall quality of life is better. You can argue things are harder now in some instances, and i would probably agree. But there are so many more opportunities available for us that I dont think you can say we have to follow those set paths our parent took. Anyone rn with internet can learn a new skill, our parents didn't have that same luxury

[@fighder2]

@@loganc2380 You said it yourself, everyone can learn a new skill now, which devalues the skill. The increase accessibility to knowledge and training devalues the resulting skill set. While the entrance fee to those skills has increased, the value of the skills decreased. Not only is this inverse relation bad on an individual level, the negative effect is amplified by everyone else doing it. You talk of the increased opportunities as a good thing but disregarded the increase in competition and also a decrease in demand as technology has made it more efficient for less people to do the work of many before. The demand for people has not been growing at a proportional rate as the supply of people coming in.

[@hermesliteratus882]

When you hear Americans start saving, you know how bad the economy is.

[@Strgzz]

An underrated comment

[@BigShmeels]

So true lol

[@sumralltt]

What a joke - With half the US work force out of work or taking huge pay cuts - How can you can when you can't pay for basic living necessities?

[@ErikPT]

Usagi I mean meager savings won’t avert an impending downturn

[@Strgzz]

@@ErikPT Of course they don't. I interpreted the comment as more like a dark joke.

[@paulbradleyowido1671]

“Take a nice deep breath relax a little and let me tell you why we are all f**ked” wow

[@BearMeOut]

They got us at the first half... Not gonna lie

[@shaikimthias974]

@@BearMeOut this made me laugh a lot

[@Horible4]

Hope all the fear mongering over coronavirus was worth it. Now you've got a scarier problem to deal with.

[@CarrotConsumer]

@@Horible4 Human life is worth it, yes.

[@Horible4]

@@CarrotConsumer This guy literally just did a video on how you're killing people anyways. The amount of suffering that can come from an economic downturn far outweighs any virus that can strike a population in the modern age. You can't save everyone. Get over it.

[@EconomicsExplained]

Well, it's been real ladies and gents. Time to invest in canned beans and bunkers.

[@MepsiPax]

Gold and silver bro get onto it

[@bananalord8461]

Can’t no money

[@zawwin1846]

Well invest in a good bidet so you are less likely to be impacted from TP crisis again. It also saves a lot money from using less TP. It’s also good for environment.

[@k98killer]

You should always have your beans, bullets, bullion, and buddies organized in case of a crisis.

[@sagara5293]

And Bottle Caps as well

[@hydraulichydra8363]

> be government > borrow money > spend it > "LOOK THE GDP IS GOING UP YAY!!"

[@mrleafbeef634]

Cut everything & place back gold standard. Limit gov, cut credit, money supply, create production (nationalize it)

[@purplefire2834]

"OOH LOOK THE NATIONAL DEBT IS GOING UP TOO"

[@Tonyx.yt.]

The chinese way...

[@jimbolimbo369]

They wanted to prevent a liquidity crisis.

[@yuewang8336]

@@Tonyx.yt. chinese government is lending money out. just see how much american nation debt they are holding in hand now....

[@arpitaggarwal8056]

Everyone: Flatten the curve USA: OK Everyone:(gasps) You flattened the wrong curve! USA: Oops

[@Kirisame312]

Underrated comment

[@Umamaahoe]

Europe gdp zone fell 40 percent

[@andrewjacobson556]

I like curves!!😀

[@truedarklander]

@@Umamaahoe Portugal fell 13%

[@skydude221]

@@Umamaahoe Europe isn't a country

[@duo496]

Economics of flattening the curve VERTICALLY

[@blyat7276]

@Egg T what does that mean?

[@duo496]

@@zUJ7EjVD Japanese and Latin

[@mikhael7221]

@@zUJ7EjVD I'm on Korean and then I'll start Arabic later on

[@unknowninfinium4353]

@@duo496 I am learning french. Is Latin still spoken?

[@duo496]

Nobody speaks latin natively,

[@Food4thought1234]

Have we tried unplugging and replugging the economy?

[@becsterbrisbane6275]

I think the reset is needing more of a Ctl+Alt+Del

[@becsterbrisbane6275]

@JHyun - gonna have to search outside Australia for that one.....lol

[@chrono-glitchwaterlily8776]

Just copy paste the code on a different computer. I'm sure the new antivirus created by the China Software can prevent the spread of the broken code of the US software

[@perpotet4629]

What about blowing the economy cartridge.

[@Matthew-re9pb]

Thats actually whats going down The old order of things is passing away, and the new world order, the technocratic, transhumanist agenda is on the way...where the antichrist will be given power from every government on earth.

[@michaelrexrode3759]

The "Greatest Economy in History" turned out to have a giant glass jaw. How come corporations didn't have 6 months savings reserve like persons are supposed to have?

[@ADobbin1]

because they were discouraged from doing so by modern monetary theory. That theory says that having lots of cash on hand to say weather a sudden crisis is bad for the company and the economy. After all money sitting around isn't being used to grow the economy.

[@malikcurriah241]

@@ADobbin1 which is true.

[@II-re7vf]

Andrew Dobbin that’s not the problem it’s that the equity built from investments weren’t real. They played the stock market game instead of investing in real products and or people and this had nothing to show when their gravy train slowed

[@II-re7vf]

El Bottoo bro u need to be way more articulate I agree with ur main point and it doesn’t refute mine. But your way of saying it is hella dumb bro

[@technolung]

Cash is a depreciating asset

[@paulomendoza5606]

EE: Investing should be hard EToro ad spam in EE: Investing is easy

[@MyName-tb9oz]

That is hilarious!

[@jasondaveries9716]

truuuue

[@MarioC42]

I just thought i was having some cognitive dissonance

[@stephenconnell]

@@MarioC42 There is a vaccine for that.

[@stefm.w.3640]

huh so I'm not the only one getting these ads every single video

[@blusham4629]

Media: the world is f****d Me: shut up EE: we’re f****d Me: So it looks like the aztecs were dyslexic after all

[@odiousfox355]

USA is not the world.

[@SomethingSpecial.]

@@odiousfox355 A major economy like the u.s going down hill is going to have impacts on the entire planet. The same would go for China if their economy down turned on such a large scale. As to how big the impact is or will be, we'll have to see.

[@Bonanzaking]

Odious Fox yeah but they have an outsized pull on the world. Not to mention like just a handful of countries they technically can end the world literally.

[@henriquetraeselengelmann9419]

We are NOT fucked, we are just GOING to be... 😅

[@phil9265]

@@odiousfox355 *Laughs in Mandarin*

[@nate7LP_my_dog_found_the_knife]

Printer go brrrrrr. Invest into cardboard, the next real estate.

[@fahmimansor]

They're quite up to date with the memes

[@artman7780]

Cardboard Hooverville (Trumpville) homes. The next trend. 😍🏚

[@SangoProductions213]

I'd rather invest into glass and repair companies that service Democrat cities, as they'll be having a lot of work for themselves.

[@rogermoore8977]

Would Duct taping together two refrigerator boxes more like a duplex or a double wide? I have an idea to produce a TV program for HGTV flipping side sidewalk real estate.

[@MasterYoshidino]

The one good thing about the video. BRRRRRRRR.

[@TheKnif]

Before you enter the United States, a quick shout out to or national sponsor raid shadow legends

[@radicallaruby]

Start now for free!

[@102wingnut]

🤣😂🤣

[@itepk0522]

You mean shootout?

[@maxpayne892]

isis: before we proceed on to the beheading we'd like to thank our sponsor raid shadow legends which has been the "new" rpg game for the last 9 years

[@yonboybigbezang8808]

this is why usa is collapsing. Look at this guy man

[@HomersIlliad]

1929: Great Depression 2020: Depresso Grande

[@elviscesar8021]

fake news fake news fake news

[@Myke635]

2021: Depression Ultimatum

[@ExtremeComments9]

Despacito

[@vali69]

Big sad

[@gainlabs]

Depresso Grande with 🍨Cream.

[@QuestionEverythingButWHY]

“After the game, the king and the pawn go into the same box.” - Italian Proverb

[@MeetYourArchitect]

But the king is remembered, pawn isn't.

[@nitishkumarjurel241]

What does this proverb means?

[@statarofortress]

@@MeetYourArchitect who wants to be remembered by pawns? 😅

[@kunkatakao492]

But the king got plenty of box when he was alive

[@FamilyTeamGaming]

@@nitishkumarjurel241 everyone goes to the same place when they die. We're all equal in death.

[@OK-ws7ti]

1930's: Great Depression 2020: Big Depresso

[@Xanthopathy]

Big Sad*

[@Mr9mann]

At least this one got wit behind it.

[@jrod8807]

Big Depresso Grande

[@alldaybaby2852]

Vinti

[@cgchiang]

Great Desperation?

[@bluemountain4181]

2:01 "Children will live richer lives than their parents did" *Several Millennials and Gen Z are typing...*

[@RobertGarcia-wv8vx]

...... while still living are their parents homes. Oh yeah, and their kids too.

[@mossyourlocalbleachbottle2098]

My guy we can only wish

[@232Invoker]

@@RobertGarcia-wv8vx Weird how American pride themselves as parents by kicking their children out and hoping they would survive.

[@williamhendrix2053]

Millenials caused this bullcrap

[@2712animefreak]

@Schnabel Same over here, for some poorer families the house itself is a family heirloom. Some people are to poor to buy a new house, some desire to stay with family and others that could buy a house simply have a mentality of "Why buy a new house when all you have to do is wait for grandpa to die and voila - free house".

[@derpynerdy6294]

America Prints money Weimar Republic: not so bad eh

[@kitkat47chrysalis95]

underrated comment^

[@jeffduncan1212]

crypto and metal holders: yah its amazing

[@lizadey5347]

That really would be scary - a plunge in the value of the US dollar while the Fed just prints more money and lowers interest rates. Anyone fancy a Renimbi?

[@eingrobernerzustand3741]

The germans need to stop crying, they didn't have to suffer under a saint germain Imagine if your entire economy disappears overnight

[@HeroesofWar7]

@@lizadey5347 yes, if countries start stockpiling the Chinese currency then its best to start learning Mandarin

[@AsbestosMuffins]

"and children will live richer lives than their parents." *Laughs and then cries in Millenial*

[@markhenley3097]

I mean, in comparison to children from the 1930s (Greatest and Silent Generations), millennials and Gen Z are the luckiest generation in history. Just the fact that there are no food shortages or rationing is a massive improvement. Baby Boomers also had a good life although in the 1970s some countries had it hard (Gen X).

[@vatu]

Well, my parents live in russia and I am in germany, so yeah, I kinda live richer then them lol

[@olska9498]

"just don't participate and stimulate the economy so much by buying coffee and haircuts, then you could afford buying a house with 30." - every baby boomer

[@Bonanzaking]

Clive Bixby uhh you’d be surprised. I quit smoking cigarettes and daily coffee frappe and put that money into crypto. I’ve been doing it for 2 years. Might actually buy myself a house if I keep it up.

[@GodwynDi]

@@Bonanzaking Turns out managing your finances works.

[@Alex_FRD]

Guess the economy should have worn a mask.

[@jamesgors6650]

But iF I sHUt DowN My FiguRES WiLl shRiNK!

[@marcusj1167]

We should’ve cut off China

[@keatingsutherland392]

James Gors ya how dare people care about keeping their businesses afloat. They are so selfish.

[@seyamrahman1002]

Marcus J No, you should have taken the virus seriously and not refuse to social distance because “iT’S mY cOnSTiTuTioNAl rIgHT tO Go tO tHE bEaCH”

[@AMoistEggroll]

BuT mUh fReEdOm!!

[@chuckmather1522]

Wow, people still believe things will "get back to normal" as if there is no damage. Change is coming.

[@lourdesvillegas807]

We will get back to normal eventually.We survived WW2 didn't we? The AIDS epedimic has no vaccine yet ,but we have therapeutics.WE will have herd immunity one day and maybe this COVID 19 will not be as deadly as it is today.People have a wake up call and hopefully will rethink their position and not rely too much on the government but will apply more efforts to be industrious and resilient.

[@Bawdale]

@@lourdesvillegas807 Your government was printing trillions of dollars supporting the banks before covig19 came along. The USA has serious financial problems which it is covering up with money printing. If the money printing stops, interest rates will soar to around 12%. The USA can not live with 12% yet the money printing will undermine the dollar eventually. The USA is f----d. buy some gold/bitcoin/foreign assets.

[@TheSkete]

@@lourdesvillegas807 - Comparing COVID to AIDS is laughable. There's only a few sure fire way to contract AIDS. THIS virus can just land on your skin. And there is a chance that social distancing, and mask wearing may be here PERMANENTLY. You should prepare yourself for that possibility.

[@amols101]

What is the “change”?

[@mustachecontroller1096]

@lourdes villegas yes it will go back to normal eventually but for now you have to prepare the economic things aren’t gonna better quickly it will take a lot of time

[@paunance1095]

The US should start an OnlyFans Account

[@furinick]

Put cia secrets in it lol

[@KikogamerJ2]

No one would donate except americans

[@hamletprinceofdenmark5896]

As much as I'd like to see the US's privates, they don't leave much to the imagination, so I'll pass

[@Asf-bj4rw]

Hamlet Prince of Denmark Idk about you, but I bet she’s a thicc one

[@conscioussubconsciousness1976]

Yee, the world def would pay for those thicc Trump leaks.

[@jordanmcelroy8167]

EE: Explains every headline is exaggerated and it’s going to be okay Me: Ok we are saved! EE: For the last part of the good news... Me: Why are is there still 12 minutes of video time... EE: We are totally F*****D Me: ...

[@Tupadre97]

literally just read this comment as he said it

[@feelinglikeaceowithqueenal8019]

@@haridasyedage59yes to put it bluntly yes not only that but His only begotten Son is Jesus and He died a perfect dead so that we may be reconciled to God repent as the Kingdom of God is nearing closer and closer and soon it will be to late for you

[@haridasyedage59]

I'LL be happy if he hates me.

[@TylerSpark714]

@@feelinglikeaceowithqueenal8019 Doubtful, claiming the existence of God is about as credible as claiming the existence of a unicorn. You can't prove they exist, nor can you disprove it, the only difference is that you automatically assume that one exists and the other doesn't.

[@haridasyedage59]

@@TylerSpark714 I totally agree with you👍👍.

[@Zei33]

Your videos have been so quality so consistently. Good work mate. It’s nice to see an Aussie out there doing something good.

[@EconomicsExplained]

cheers mate :) hope you are staying safe in this crazy world right now.

[@AwesomeHairo]

As oppose to other Aussies *cough* Margot Robbie *cough* Rebel Wilson

[@phillharris3154]

A fabulous series. Makes us Aussies Proud!

[@bilinasmini3480]

“How many times is it said investing should be easy” video goes to commercial spot that starts with “want to get money fast? Buy my fool proof plan to get rich with stocks!”

[@kevinp113]

@Chatsworth Osborne, Jr. cool but no one asked

[@TypicalFrogman]

It can't be that fast, but over-time you can make some good money from stocks if ya don't act stupid with trading randomly.

[@juankgonzalez6230]

Stonks only go up!

[@hughjazz8416]

Chatsworth Osborne, Jr. - Go all in on gold right now, sell everything you own and buy! You won’t regret it 😉📉 *sarcasm*

[@michaelsmith4904]

@Chatsworth Osborne, Jr. Why are you investing in the Bible if you aren't reading and following it? The Bible says *not* to invest in silver and gold! (Matthew 6:19-20)

[@jim7771]

2020: “TOP THIS GREAT DEPRESSION!”

[@justinfreeman4614]

I disliked your comment. Not because you're wrong, but because I wish you were.

[@randomnamegbji]

2021:"Lol your depressions was only 'great'... Weak. Mine is gonna be LEGENDARY!"

[@Mbewe_SM]

dame da ne.

[@thek51423]

“Its the end of the world as we know it “🎶 kzbin.info/www/bejne/o6SlgpWinsiAnZI

[@tonykristhiofan1113]

Ah, i still remember when people at 2019 new year were hype about 2020 because it's the new roaring twenties and i saw a meme about how the 1920's have a bunch of disaster and just laugh knowing it will never happen and here we are

[@batatino8805]

1928: Im the worst economic crisis ever 2020: You are a child

[@lonewolf6997]

😂😂😂😂😂

[@haridasyedage59]

kzbin.info/www/bejne/Z6K9m4N3bppgpqc

[@RezaQin]

2020 is anywhere close to the crash of 1929, dummy.

[@DefenestrateYourself]

Imagine saying this unironically. Try cracking open the Wikipedia page on the Great Depression, dingus

[@QuestionEverythingButWHY]

“When we are no longer able to change a situation, we are challenged to change ourselves.” ― Viktor E. Frankl

[@awadoy]

I literally see you in dozens of channel's comment sections

[@pradhumnkanase8381]

@@awadoy yeah I feel it is a comment bot.

[@ilkyway5854]

What would a bot achieve with such a quote? (Trying to understand the whole bot thing 😊)

[@QuestionEverythingButWHY]

@@awadoy am I doing anything illegal here? haha

[@QuestionEverythingButWHY]

@@pradhumnkanase8381 thanks for the compliment!

[@denzelnicholson5423]

I think this pandemic has taught people the importance of multiple streams of income unfortunately having a job doesn't mean security. So I really appreciate your transparency and giving people a fighting chance during these troubling times.

[@krownscryptocave1809]

After an initial demo account trading training, I now use a real trading account. I decided that the real account would make my training and experience far better. Therefore I deposited $5,200 into my first trading account. After 2 months of suffering and blowing up my account (almost 75%lost, I decided to join a professional advisory service) I started to earn some money

[@krownscryptocave1809]

As I'm writing this I had recovered my first deposit plus a decent profit on top of that.

[@blindtobillionaire1115]

Forex trading has really changed my life with the guidance of my portfolio manager

[@blindtobillionaire1115]

@Eamm michea I'll recommend Mr Robertson. he is a sincere broker that have been managing my acct and returning my profits as well since 2018 till now.

[@jarrodgodfrey6321]

Hey you're not far from making profits, when someone is straight forward and good at what he or she does people will always speak for them

[@alcatrazz.627]

Jeff Bezos: Skewing the average household income across the entire US.

[@trillmixin6999]

which is why averages are always a bad measurement

[@FizzyGajing]

@@trillmixin6999 wait what?

[@c.emagnani9641]

Wonder what it would be without it

[@Soleilune1995]

@@trillmixin6999 Yeah, average income is like 10 times higher than median. Because rich people have all the money.

[@tomgraceffa4401]

he and all of the American elite do by not paying Americans more cuz they import cheap labor through immigration

[@elliotalderson6769]

I stayed for the "Money printers go brrrrr" meme inserted into inflation graph charts. Thank you for making my day.

[@snubdogjoe]

time to pull out my investments in dogecoin

[@EconomicsExplained]

nah that is safe as any investment ever. 1 doge will always = 1 doge. Doesn't get more secure than that.

[@thanos2703]

Isnt dogecoin a joke currency

[@boneappletee6416]

@@thanos2703 Yeah, that's part of the point. Except it's still more valuable than some other cryptocurrencies, because the value people on the internet put into a joke.

[@joshuathomas2012]

@@thanos2703 r/woosh

[@mrmeseeks8790]

Hi Dogeee

[@ronpearson1912]

Income is up but job security is an all time low, people know that they need massive emergency fund. 6 months does not even begin to cut it.

[@nelsonvictor50]

The rich spend less and invest more

[@brucekengood3228]

Investing in these economic crisis will be one of the best thing to do.

[@wtsap8850]

Investing in these economic crisis will be one of the best thing to do.

[@user-fh7qr9pi3h]

You're right I think Gold and Crypto are the best to invest right now☺️

[@nelsonvictor50]

Gold's are good but crypto is better

[@joemoe974]

"This country has never seen anything like this before. It's tremendous." Yeah, you got that right. Tremendously bad.

[@matheenarif8645]

Depression.

[@Light23K]

It’s breaking records all right. That’s what trump likes and care for is his rating and records.

[@jutea9858]

He likes to say “tremendous”.I will never use this word anymore.

[@joemoe974]

@Flare LOL, seriously? Get real.

[@FreeFromWar]

1929: The Great Depression 2008: The Great Recession 2020: The Great Transmission

[@dimentio916]

Underrated

[@nicksmith534]

what do you mean by transmission?

[@koopanique]

@@nicksmith534 Transmission of the disease.

[@apublic3619]

@@koopanique Nop! transmission of Wealth

[@koopanique]

@@apublic3619 From the rich to... themselves?

[@americanhero8606]

"Bro, just invest in real estate and you're golden" Henry George: Am I a joke to you?

[@fatpotatoe6039]

Underappreciated comment

[@lukainteressado.3202]

Buy Bitcoin

[@americanhero8606]

@@lukainteressado.3202 No.

[@zombieat]

Lucas Galeto and silver.

[@lukainteressado.3202]

@@zombieat yes

[@benjamindover2601]

As long as the people have bread and games there won't be any large scale revolts. The food supply system collapses, that's when we get French revolution 2: Electric boogaloo.

[@okisoba]

yup. processed food, social media, and on demand tv. that's what most people live off of.

[@denoc72]

My opinion is kzbin.info/www/bejne/Y6XZgIuVm5p8jdk

[@MariaMartinez-researcher]

There was plenty of bread and circus in Chile in October 2019. Still...

[@benjamindover2601]

@@MariaMartinez-researcher I meant the world wide food supply system. Say we enter a climate down turn, or a major war in fertile countries etc.

[@KaiserMattTygore927]

Yup, and millions are about to lose their homes, so those creature comforts are going to fall by the wayside.

[@kaen_tqk3918]

I guess it's time to invest in bottlecaps.

[@rexsss]

Haha 👍

[@sureokk]

Bottle caps originally represented water, so they were backed by something. In Fallout 2 caps were worthless because they were making actual money. I have no idea why Bethesda brought them back

[@MarcosAlexandre-no3qx]

@@sureokk well the Hub is still a large economic place to the wasteland even by the time of Fallout 3 so to caps lose it's value would be hard. Second in nv the ncr money had Lost most of it's value for some reason and then caps came back with water value and third because it's easier to make one monetary system in game then making 3 or 4

[@manictiger]

Stockpile railroad spikes. Thank me later.

[@noonadoona8736]

You are forgetting the value of land mines and nuke coal quantum futures.

[@bartoszkosmowski7149]

Holy growth empire was never holy nor growth nor the empire.

[@TheFred10000]

Leeel

[@thestatistician6076]

I see what you did there lol

[@markhenley3097]

@@georgejoseph3726 Referring the Holy Roman Empire, which was a complex Empire existing in modern day Germany/Italy, and dubbed ''Not Holy, not Roman and not an Empire,'' by Voltaire, due to political turmoil in it. It wasn't ''Holy'' because it tolerated heretics (Protestants, Calvinists), it wasn't ''Roman'' since it had no relation to the Roman Empire, and it wasn't an ''Empire'' since the Imperial Throne was an elected title. Although I'd say it was an Empire.

[@MrKogline]

Maybe the Chinese will invade and be our Napoleon.

[@bartoszkosmowski7149]

@@MrKogline hopefully not, I made a bet that it will be Canada and I realy want to win this bet

[@guru47pi]

He said average household income went up; I wonder how median household income fared. I suspect most of the increase is the stock market increase and stimulus money, which are both temporary, and the former goes almost entirely to the wealthy and those employed and with 401(k)'s.

[@kiruschka123]

In 2020? Yeah sure, if you eliminate a big portion of bad paying service jobs, you will end up with a higher median or average income. That is all to the story tbh

[@OlJackBurton]

The American "economy" added over $5 trillion in welfare, such as $600 a week extra for the vast majority of low income unemployed workers, while many employed low income workers received hazard pay, and almost all employed and unemployed workers received a $1,200 "bonus". Add very low or no interest "loans", such as the PPP and the corporate slush fund, as well as the complete artificial propping of the stock market and there's no surprise at all that "average" and median incomes went up. Sure not all unemployed workers were made whole, such as higher income workers or those making over or well over $4k a month, or those that were illegal and unable to receive benefits, but the vast majority of those unemployed were lower income workers and the large majority of the US in general is lower income workers. 70% of workers make less than $50k a year and over 40% of workers, the majority of them women, make less than $25k a year. So the extra $600 lifted tens of millions or workers one to three classes (quintiles) of income higher...

[@camerontaylor7471]

Or they could just be lying... lol no one is able to even confirm the credibility of the numbers/info ... we all just accept it as fact when they add GDP and all the fancy terminology...

[@SexycuteStudios]

"Incomes actually increased" Over 30% of Americans can't pay their mortgage or rent right now. Let's just ignore that?

[@ASTRA1564]

I love when fuckers point to the stock market as an indicator of how america's doing, when most citizens don't own anything in stocks and as you just pointed out, if half the country can't pay for houses that means they can't spend money and the economy will be wrecked, because the rich need the poor to buy there item's or no wealth is generated.

[@paulfrank9047]

According to Gallup, 55% of Americans own some interest in the stock market. Many retirement plans like 401Ks or pensions include financial groups who use the money working people put into it each month to invest in their behalf. That’s the only way significant money can be made without workers directly planning their investments. Otherwise, the only other way is for you to put your money in a savings account in a bank, where the interest rate is 1-2% (which usually barely if at all keeps up with annual inflation which is usually a similar percentage). Also the bank can only meet these interest rate requirements by using customers’ money for investments which often includes stocks. So while many Americans don’t directly choose stocks to invest in, their retirement accounts either grow or contract based upon the investment choices of financial institutions that oversee the plans.

[@WilliamMohamad-uv5fi]

@@paulfrank9047 that's a wildly misleading statistic considering 90% of stocks are owned by 10% of the population

[@lizadey5347]

Basically the people making money off stocks are getting money for nothing. They should get a proper job.

[@juansnyder6229]

It requires money to make money. this is the best secret I have ever discovered we don't make money, we EARn and MULTIPLY money

[@biscuit4705]

u know he is being serious when he is not playing music

[@freddy6837]

Lol

[@2555Edu]

the ideal scenario would be a focus on small/medium enterprises like they did in Germany, those are the backbone of any national economy, the little coffee shop, the little mechanical workshop, the small local market. Big companies like Amazon, Apple, Google will never generate the amount of jobs that the local small enterprises will, those companies provide tools of innovation, but in the end they'll not employ as many people as a bunch of little enterprises

[@Schimml0rd]

The difference is, Amazon, apple etc have enough money to bribe the government into funding them, unlike the small ones ^^

[@patnor7354]

Or the same amount of taxes or freedom...

[@justinmartinez67]

@t-dot Money and politics are the perfect mix of poison in America. Unfortunately, our best efforts to unite against it are not successful. Whether its oppression, racism, partisanship or anything else, it is far easier for those still reaping rewards to divide the masses of those hurting.

[@b4804514]

@t-dot Sad isn't it - that the US wastes so much on something they can't ever get right

[@emilianobarrios1388]

t-dot tell that to the military industrial complex

[@andriizahorulko7263]

Me: I think everything is going to get better from now on. EE: We are f*cked. Me: Oh for f*ck sake.

[@InspiredxxFamily]

The Ppl that think everything will just “go back to normal” are going to be unprepared for the perilous times ahead

[@insertname7032]

Indeed ! We are gonna dance like never before !

[@Hotboytrue]

If it wont go back to normal what will it turn into.

[@rickb06]

@Heschewingonit Yessir. You nailed it! The boogaloo is inbound, and this time we are fighting for our right to live and be free, and the enemy is fighting to rule over us. I'm itching to mag dump (freedom) in the face of Marxists and other evil bastards.

[@NoelRojo]

@@rickb06 haha, look at this cyber warrior.

[@KaiserMattTygore927]

@big pompano Exactly, "normal" is NEVER coming back, we've entered a new era, for better or for worse.

[@AltSimplified]

Some would say that it's 2/3rds full...

[@JollyOldCanuck]

The US is the world's biggest customer, if US consumers stop buying businesses all over the world would suffer. We're looking at a Second Great Depression at worst or a Second Great Recession at best.

[@01codblackops]

@@JollyOldCanuck this is not the second of anything it is a million times worse than 1929 the world recession or depression does not cut it you should call it economic ANNIHILATION

[@nathangale7702]

Absurd optimism always gives me a smile, thanks.

[@giovannidueck9094]

Actually it’s -1/3rd full

[@Explosivefox109]

Underrated comment.

[@GIboy1990]

I'm most concerned about the inflation to make up for the trillions of spending

[@jamesrichey]

The billionaires will absorb the cost through the stock market since all of it is just numbers on computer nowadays. They will do so in order to maintain dominance over the working population who sever them, and pass the austerity on to us.

[@kimobrien.]

@@jamesrichey I'm not sure what your saying? How do the billionaires absorb this through the stock market? Why does that give them dominance? Them instituting austrarity that I understand. They will try to make the unemployed pay for their crisis along with those that still have a job. They'll start cutting the UI benefits saying without doing so the unemployed won't return to work and for those who have jobs they will be telling us at work that there are others that can do your job better so shut up and keep working. .

[@kimobrien.]

@Sally Hillal The government goes into debt so wealthy US Treasury bond holders can be paid future tax money. That scam has being going on since Alexander Hamilton. Instead of taxing the rich the rich invest in government and go home with a tidy government guaranteed profit paid for with tax money.

[@kimobrien.]

@Sally Hillal The top income people in government are government managers not unionized workers. Cops, prison guards and "justice system" employees are NOT workers.

[@nygeriunprence]

You're a clown. You should be worried that they are bailing out the top markets and not the people.

[@sonodo511]

The term "Investment" in GDP does not mean purchases of financial products, but rather purchase of new equipment or building a new factory etc. People might not be sitting on a pile of cash, they could've already used it for financial products. This would explain the recent rally regardless of the economy not performing well.

[@andriyshevchenko6689]

Indeed I think we’re kind of past the time when “everybody has piles of cash”. That cash has gone into bonds (which are now all in negative real yield), Apple, Amazon, the stock market in general, gold, silver, houses, crypto, foreign stocks etc etc. And when the cash fully runs out, that’s when that wealth will be absolutely destroyed in what is probably one of the largest asset bubbles in history. Which is now sitting thanks to Covid on the flimsiest of economies. It’s... really bad. And if cash keeps coming in, well, then the dollar will just plummet so much that assets might as well have crashed 50%. Don’t think that’s going to happen though, the fed is not so stupid to completely kill the dollar in its attempts to cancel gravity.

[@SurmaSampo]

But in the USA especially the majority of capital investment occurs via asset leases, mortgages, equity finance and venture capital which are all investment products. There is no way to directly measure capital investment especially in service industries so indirect measures are needed.

[@geraldg350]

@@andriyshevchenko6689 The fed is just a central bank there is really no force or incentive preventing the fed from printing the U.S dollar to oblivion. The print record currency and lower rates to zero today but they are going to stop printing and raise rates in the future when the whole system is more levered up? makes no sense, history shows the printing usually stops when the currency has already been destroyed. This will not happen overnight because of the dollar's reserve status but this is easily the biggest bubble in history nothing comes close.

[@willwright3358]

@VobisPacem I heard Jim Cramer say that it is a transferance of money from the middle class businesses, which closed due to covid, to the publicly traded companies which remained open.

[@CptTexas1]

"Wages have gone up!" Either because people are making more on unemployment and/or the government doesn't include unemployed people.

[@FastlaneProductions1]

Half the population works from home. Those people have grown their work opportunities by cutting out commutes. I think that might be a factor

[@mathiasfenger-eriksen3362]

No, its because people in low income jobs in the manufacturing and services sectors have been disproportionally been laid off as opposed to higher income jobs, driving the overall median income for workers still employed up.

[@FastlaneProductions1]

@@mathiasfenger-eriksen3362 two things can be true at once

[@endme6658]

Yea the "average" household is a bad statistic. To better understand you should almost always use medians, because it let's you know where the middle is. Averages are extremely bad for measuring this sort of thing and are almost always misleading.

[@MrNeilSherman]

@@endme6658 Thank you! The Average has become treated as a magic statistic, 'just derive that and we're done, all we need to know'

[@altonparker4328]

"Last bit of good news..." *12 minutes remaining* Me: Oh boy...

[@JohnJohn-jq7cd]

lol...

[@JoeVirella]

Lol’ed at the “let me tell you why were all f**cked” then cried 😆 😭

[@tonechild5929]

Hello Comments, I've noticed some misconceptions. First: a lot of people thinking GDP fell 33% (It didn't, that would be insane). Second: GDP Growth fell 33% (It didn't, it fell by 9%) The Annual GDP Growth is projected to fall by 33% - There I fixed it.

[@dylangoddard7449]

That's still awful!

[@gregparrott]

The video specifically stated what you repeated here. (That the 33% is an annualized figure)

[@attemptedpolymath9660]

Someone didn't watch the whole video. Awkward.

[@yuuhaa]

No it wasn’t GDP growth that fell, it was GDP. Of course the actual annual GDP decrease won’t be as bad as it will bounce back during the latter part of the year, but annual GDP will still decrease, it will not grow in 2020.

[@tonechild5929]

@@attemptedpolymath9660 I watched the entire video, there were comments all over the place stating these misconceptions. As I said, I am addressing misconceptions in the comments, NOT the video (if you can clearly read my first comment, ackward!!!)

[@pnnedbyRabbiSimonJacobson]

“The moment you make passive income and portfolio income a part of your life, your life will change. Those words will become flesh. Often, the more money you make the more money you spend; that’s why more money doesn’t make you rich - assets make you rich....

[@cryptocapitalventure6096]

I want to know if bitcoin trading is really worth it. I have been watching videos but couldn't make it but recently i see people make a lot from it

[@thinkmedia5705]

I am interested and willing to invest heavily in bitcoin. All ma homies be telling me that they are making money through bitcoin trading and investment

[@user-vs5nw5bu1o]

@Mark Hopper Is there a Way i can contact Mrs Taylor? . I really have been looking a chance to invest in bitcoin

[@raphizz338]

@@cryptocapitalventure6096 don't listen to those fake comments/bots that promote an asset manager for bitcoin or anything else really. You should try to learn about the stock market/crypto market and how it works before investing and then chose your investments wisely

[@michaelcarper2185]

What if you don't have any extra money to help turn into passive income? What should you do then?

[@Tenchinu]

“... for some, it might going out and getting a job. But for the MAJORITY of you, ill mean vacations and parties.” *Stares in ‘some of you’*

[@anhvuphan5727]

**laughs in staying at home alone because nothing's changed for us introverts, and we don't have the money to do such things anyway** **slowly transitions to crying**

[@AdhikJoshi]

Last time i was this early, rates were above zero

[@CaptinJangles]

The best thing that could come out of this is the death of the unsustainable philosophy we've been operating on since the 80s. Let's be honest, most of the "growth" of the past decade has been built on shaky ground through tax cuts and irresponsible fiscal policy to bolster the markets and make it look like everything was getting better. Sometimes something has to fail catastrophically before people realize it was a flawed design from the get go. I can only hope whatever emerges makes more sense than what we had.

[@staceymith]

If the economy grows to the tune of trillions and trillions in debt and unfunded liabilities, did it really grow at all? People like to claim that Russia is a poor country , compared to U.S. but if you look at Debt to GDP, then you realize U.S. is not so rich , and Russia is not so poor.

[@werewolf4358]

Socialism, god willing.

[@visoriannull832]

@@werewolf4358 Mao come back pls

[@fireandworms]

Don't forget immigration of low-skill workers, that is proven to increase GDP while stagnating or lowering wages for workers similar to the immigrants.

[@dessmith1387]

Don't forget, keep on voting for more of the same. Be seeing you !

[@triadwarfare]

EE: Investors have too much money in their hands Investors: That would be easy to get rid of. We'll put it to "Star Citizen".

[@IllusionistsBane]

Even that's already on shaky grounds. I mean... a roadmap to make a freaking roadmap?!

[@Ian-vb8hp]

@@IllusionistsBane Developin' ain't easy

[@shaftoe195]

And then Star Citizen be like: _"I need more!"_

[@a4ther]

Really good point at the end with the FIRE movement. Would love to watch a video of how FIRE affects an individual’s and the overall economy.

[@ThomasBomb45]

Is it possible for an economy to function if a significant portion of its citizens pursued FIRE? Well, first we want to consider two types of FIRE: 1) FI (Financial Indepencence) 2) RE (Retire Early) Some people (FI) just want the security that comes with not *needing* to work to fund their life, but once there may continue on working as normal. However, others want to RE and literally stop working, and instead pick up a hobby that doesn't have to pay for itself. FI doesn't sound like it would hurt an economy, as individuals would continue contributing to the economy. It might even make certain parts of the economy more resilient as people have more individual stability, who knows. On the other hand, can the entire workforce retire early? That would make the workforce considerably smaller, and younger. Can the entire economy be on the backs of people under 50/40/30 and still meet everyone's wants and needs? The other factor to consider, is that FIRE is not just increasing saving, but decreasing spending. If people are buying fewer luxuries than they used to, maybe we *can* decrease the workforce and still have a functioning economy

[@nuvisionprinting]

Look for Michael Hudson! He seems to be one of the experts on this.

[@FeralAkamaru]

@@ThomasBomb45 Although I'm personally pursuing FIRE, I don't think we'd ever see a reality where a majority of people will diligently save & invest their money. FI doesn't sound like it would hurt an economy but I'd say most of the workforce in company's who make up those index tracking ETF's wouldn't be there if they were FI. If no one wants to do the grunt work, then that 7% p.a long term return won't happen.

[@8calcifer]

I really wanna know if he's on r/FIRE to be honest. Also, should we conflate FIRE with passive investing? Part of me says yes, because for most people thats what that means.

[@ThomasBomb45]

His criticism of passive index funds was odd, for sure. There is no evidence that passive index funds are bad for stock price discovery. Even if a majority of shares were held in passive funds, a majority of *trades* will inevitably be made by active managers. If passive funds ever did create a pricing error, active managers would make money by capitalizing on it

[@petergeramin7195]

1928: The Great Drepression 2020: The Best Depression

[@JeanLucCaptain]

Rome burned while Trump built a useless wall. US GRAVESTONE.

[@kevintran8127]

Jean-Luc Martel Trump before coronavirus gave the US so many jobs and boosted the economy tremendously. You just wanna say “orange man bad” because that’s the trend of the internet.

[@akli3481]

It never got better after the 2008 bailout. EPIC failure of the system for the people

[@cbalan777]

Makes you wonder why. Who benefited from things not getting better.

[@dennismitchell5276]

@@cbalan777 Bankers

[@cbalan777]

@@dennismitchell5276 Makes sense. I suppose we can only guess how much they made off of the whole thing.

[@christodang]

"Average household income has increased since the beginning of 2020". I'd be interested in seeing the median and exploring this data point a bit more because it DOES indeed seem to contradict a lot of what we're seeing in terms of both unemployment numbers and generally a lot of anecdotal stories of people losing their jobs. Is the average higher because billionaires are propping it up (I remember reading that during covid-19, the world's richest billionaires increased in value)? Or is it because the stimulus packages were actually more than some people who were working part-time? It's not that I don't believe it, but I feel not enough time was spent on this (especially since you mentioned it's both strange and unexpected) given how much individual incomes are usually how people "live" through a recession.

[@Subjagator]

Depends on how they are measuring it. If income is only measured if it is coming strictly from jobs then losing lots of lower paid jobs while the middle and higher paid jobs are shifted to a work-from-home stance but retaining their income then average income would rise. But if you include the reduced income for the now unemployed people then yes, it should be going down.

[@iTuber012]

@@Subjagator extra $600 checks for unemployed

[@lankonthungezung9360]

Chutiya

[@trillmixin6999]

averages are a pretty poor way of looking at economics.

[@AlanDeAnda1]

Above the fact of the electoral intentions of all Trump's cash aids, and the artificial pumping of the stock markets -and big boys wallets-, what is really worrying is the total distortion of economic incentives, from financial to labor markets. So, yes, USA is esentially collapsing.

[@lightyagami1058]

Lol people are acting like it's the end of the world while they lie safely in their beds watching KZbin videos.

[@andrasbiro3007]

Well, if the world has to end, that's the way I'd like it to go.

[@lightyagami1058]

@@andrasbiro3007 Rather it be more instant than watch it happen slowly.

[@FM-tn5pk]

Yeah it is not so dramatic. Numbers don't tell the fact that people haven't lost, the economy was just hold back

[@MishaFlower]

history is a serious of short and irrelevant events leading up to major crises. It's the classic proverb, The end of the universe won't be a bang but a whimper.

[@djinn666]

They won't be doing that for long after the stimulus money runs out, which it just did a few days ago.

[@SuperSlimshady360]

The US couldn't realistically be the only country with a major GDP drop right?

[@SpencerGD]

Renting a car is now like $1,000 week, stocks are massively inflated, and prices are rising due to excessive spending/pent up demand & lack of available workers. This guy's prediction pretty much nailed it. Well done, Economics Explained.

[@patrickbaker7014]

A video on the future of the Decennial recessions would be interesting, because right now it just seems like we're bound to fall into the same trap every 10 years

[@MrCrosby.s_lunch]

@elijah mikle it' s not properly a feauture of capitalism, you could find booms and busts in the feudal age as well, due to reductions of the agricultural output

[@Elementalism]

@elijah mikle it is the cycle of govt planned monetary policy. Capitalism would survive without it. We have more or less had low interest rates from the fed since bill Clinton. 25 years and counting. Over time that malinvestment bubble from cheap money implodes into a recession. This one as the video noted is structural. Govt closing down the services industry and closing off international trade are driving this disaster.

[@basspig]

We never had capitalism in the us.

[@MrCrosby.s_lunch]

@Иван Петрович Indeed you' re right

[@MishaFlower]

@elijah mikle It's not, Boom and bust and futures of every economic system, Ever, No matter how perfect, A disease could strike the crops and you would have a recession tommorow, A civil war could happen in an exporter country and you would have shortages, No economic system is free from external forces.

[@artmaknev3738]

Household income increased because nobody is paying their student loans now.

[@devoncripsy711]

LOL. At least I'm not alone.

[@Gilberto90]

Doesn't matter if you go bankrupt; you'll still owe it thanks to Biden.

[@heyhoe168]

@M Bryant I thought we speak about NET household income.

[@dmitrizaslavski8480]

@Houssain Al ahmafi How did you like Biden's bombing in Syria? Trump at least tried to reanimate USA economy.

[@TrampMachine]

"Children will experience richer lives than their parents did" *Laughs in millennial*

[@lostastronaut3632]

Cries in gen z

[@Tupadre97]

Me: *laughs in ok boomer*

[@bigredwolf6]

*laughs in hard work*

[@fatpotatoe6039]

@@bigredwolf6 Good one

[@AleXcsGaming]

millenials and gen z sacrificed their lives, but at least gen alpha will life wonderful lives that we can only dream of!

[@richieconstant9837]

The sudden restoration of this country really amazed me a lot tbh

[@ethanrom9025]

Just can't stop wondering how the economy grew so fast in a short time

[@sophiaerics2494]

Nothing improves a nations economy more than understanding how the cash flow quadrant works

[@jimmyvooks8043]

How exactly do you mean by understanding how the cash flow quadrant works?

[@jessicaallen6670]

Coming to realize you can't actually be dependent in these govt job, but you rather get your self a reliable source of income

[@lukaswalter7671]

I applauded their courage of not being dependent on govt jobs

[@SaxItOut]

The “YUGE” Depression

[@berrybear2465]

Bigly.

[@Yvaelle]

The Greatest Depression

[@halohaalo2583]

@@RectalBisque without those "shutdowns" you would have had even more cases and even more economic loss and loss of life. But I guess simple math is pretty difficult for people who think masks are political

[@Kurvaux]

Rectal Bisque If the republican governors waited just one more month before reopening then we would’ve gotten over this problem in June.

[@MP-ei4kd]

The BEST depression folks.

[@dereksalas8195]

"Institutions and individuals will buy into mediocre investments because they have to. They have too much cash at their disposal, and they don't want to hold on to it due to fears of inflation." Welcome, the rise and popularity of owning physical precious metals.

[@captaindiego228]

The gold standard

[@AleXcsGaming]

more people buying into metals will still mean a growth and a recession. if you buy now you're probably good. but yet again if manufacturing is slowing down what's going to give these metals any value?

[@captaindiego228]

Alexandru Popescu hmm true

[@donHooligan]

you can't eat metal

[@captaindiego228]

donHooligan you can’t eat plastic either😂🤦🏻‍♂️

[@mrtek8095]

The toilet paper industry is doing well

[@khumothage4629]

Considering that we are in a lot of sh....

[@williamoneswhannell1060]

And the gun market

[@mrtek8095]

@@williamoneswhannell1060 And bullets

[@zyan983]

@@williamoneswhannell1060Nah that's declining. It's all about the toilet paper.

[@fatetestarossa2774]

@@zyan983 I disagree : )))))))))))))))))))))))))))))))

[@tribequest9]

House remodeling is already at an all time high, I guess being stuck in your house more really does make you care.

[@user-gm3rp4fp4g]

1929: I am so GREAT 2020: looks down - u sure?

[@sterasigma8734]

So the Americans started spending less? Never thought I would see this day.

[@JBereza]

Do you mean in nominal terms or do you mean that as a percentage of their income?

[@unitedglobalgaming2243]

laughs in 300 dollar chair, 190 dollar controller, and 1300 dollar tv.

[@waffles9771]

@@unitedglobalgaming2243 cute, thats cute

[@andreizav7040]

The did not.. the rest of the world is still bankrolling them, just as for the past couple of decades 🤷‍♂️

[@Ableten]

Yeah I know it’s almost as if citizens not buying products and economic prosperity are inversely correlated.

[@whisper3856]

People: How’s your life going? My life:

[@HomersIlliad]

Considering how often you talk about economics, I know one good sector for us to invest in: the stock footage industry.

[@sourojyotidas4502]

Been binge watching your videos for the past few days. You guys are doing a fantastic job. Keep it up.

[@PsyQoBoy]

Unemployment going up = Stock market going up. Hmmmmm ...... Something sounds fishy 🤔

[@TheHighBreadGuy]

I da just got a job

[@oliviastratton2169]

Well, there are a few reasons for this. 1. The stock market dropped so far in March that a lot of its recent "growth" is just catching back up to where it was in February. 2. The stock market is fueled by expectations, not results. It's been going up because a lot of investors are hoping that as lockdowns end, the economy will recover. If this doesn't happen, the stock market will probably stall or drop again. 3. The stock market only measures publicly traded companies, usually giant corporations. Many of these businesses, like Netflix and Amazon, do a lot of business online. People staying home and retailers closing means more online shopping. 3. A lot of people actually made more money off unemployment benefits than they did their regular jobs. Also, a lot of people claiming unemployment were furloughed, not laid off. This means lots of people with more money than usual who expect to return to their regular job rather than spend weeks/months searching for a new one. This means a lot of people are not feeling the full effects of the economic downturn and may not be curbing their spending habits accordingly.

[@vkray]

Same in India lol. Muskesh Ambani wealth was 21 billions of dollars 3 years back. Now, 77 billions of dollar. God save from this morons.

[@kobemop]

the economy benefits from people having less jobs

[@TheHighBreadGuy]

kobe mop heo

[@noahoxley6]

It didn’t lose 33% of its value, it lost 33% of its output. Which could actually be more than 33% of its value

[@noahoxley6]

Hakim Habib that is QoQ so it still decreased 33% from the same quarter last year

[@jd-uz1ln]

@@noahoxley6 no it didn't, Hakim is right.

[@nickg1895]

Yeah but its only the value of one of four quarters so a possible 8-9% value loss.

[@noahoxley6]

Nick G correct, QoQ loss of 33%

[@noahoxley6]

Hakim Habib Yes, I never said it was annualized.

[@KateeAngel]

The idea that GDP and economy in general should always grow endlessly, is suicidal for humankind. It will lead us to overshoot-collapse trajectory. The system should be changed in order not to rely on the "endless growth" strategy anymore

[@p.g.6088]

What we need to change isn't the system, but our own lifestyle and the way we value things. For example, if we start seeing Ferraris as big pollution machines instead of being desirable luxury items, then their value will drop and no one will want to buy them anymore. If we see smaller eco-friendly houses/apartments as being attractive instead of huge 4 floor mansions, then no more huge mansions will be built because no one will want to buy them. We are the cause of pollution with all our overconsumption.

[@phillipphil1615]

Kate s .. agree 100% ;)

[@seifira6673]

@@arvedludwig3584 I agree with you a 100% what goes up eventually has to go down you can't have an economy based on growth only. Stability should be the principal objective to an economy

[@stwopid]

@@p.g.6088 But your avarage Ferrari that gets driven 100miles a year, emits less greenhouse gases than a small a small Toyota Yaris that does 100k miles

[@p.g.6088]

@@stwopid Are you seriously not understanding that I was giving an example? For the same distance, Ferraris consume 3-5 times more fuel than regular cars. And most Ferraris are driven more than 100 miles per year, your example is litterally stupid.

[@chloevitagliano9565]

Thumbnail: the end of an empire? Every nation's golden age will end, no one will escape.

[@tohyongsheng3406]

Now is time for china's golden age! China number ONE!!

[@angelh8367]

"the rise of the first order"

[@yashkhare2]

@@tohyongsheng3406 (X) Doubt

[@WahyuSetiawan-sz4lc]

British empire isn't falling either, it just become just another country

[@lankonthungezung9360]

Chutiya

[@zyfigamer]

Thanks to automation, there will come a time when most income is not earned at all. The fair distribution of labor-less productivity is the most important issue for the remainder of this century.

[@aygwm]

Not everything can be automated. But most repetitive labor is likely to be at some point

[@idirhhrin8876]

Stfu lol

[@evanw2195]

You always need an electrician to work on the equipment

[@bigredwolf6]

Иван Петрович Or we could bring our manufacturing back from China, and go back to making less, but high quality items. Capitalism ain’t the problem. It’s consumerism and corporatism. There’s no need for a mom and pop diner to be a democratic coop. There’s no need for Home Depot to be a Democratic coop, since people are just going to vote to give them higher wages, regardless of the long term effects. Like with the $15 an hour minimum.

[@bigredwolf6]

Иван Петрович Fair point. Hadn’t thought of it that way

[@08lukin]

The "I'm part of a movememt that's bad for the economy" line really surprised me. I mean, I knew it already, that's why I see the videos, I just didn't expect such high dose of reality.

[@bobabola1386]

This is my second once in a lifetime economic collapse 😎👍

[@jaronlunau1198]

"Once the crisis has ended the figures should go back to normal." Ah yes when in one year we will have enough vaccines for most of the population it will go back to normal. Great but we just got half a year behind us and im not sure how things are going to look like in another half year and as you pointed out even when we get out we still have other problems. Furthermore these Problems are also affecting other countries not only because global trade and investments but also because the Dollar is a world reserve currency and if the USA has a high inflation that will hit all countries that have them for safety or other things. Please take my opinion on the situation with a pinch salt since im not an economist. Thanks

[@tonyt8271]

hahahhaha vacines xD... don't think it'll be that easy...

[@isexuallyidentifyasanapach4720]

we already have a cure for Coronavirus. It's called hydroxychloroquine

[@WillToWinvlog]

Forget the vaccines, open America! This case of the flu has affected our minds worse than our bodies.

[@legodude19999]

@@isexuallyidentifyasanapach4720 You are insane, look at your unreliable sources.

[@jacqdanieles]

@@isexuallyidentifyasanapach4720 - & drinking bleach

[@LinuxGalore]

it also highlights how important the "services segment" of most western economies has become. Covid 19 has well and truly thrown the spanner in the US services sector.

[@TheGuruStud]

All in the plan for billionaires. Consolidate businesses, reduce labor, reduce pay, reduce benefits, profit.

[@immaculatesquid]

TheGuruStud Great that we have also given up all legislative power over all 50 states to judges and the president and executive agencies. not that legislature thing that literally means "law-makers".

[@lus4582]

1929: The great depression 2020: The great suicide

[@Matthew-re9pb]

The great starvation

[@lus4582]

@@Matthew-re9pb Self-starvation

[@lus4582]

@Austin Martín Hernández The countries, not the people

[@masterpuni7371]

@Austin Martín Hernández they literally starved the economy by lockdown.

[@lus4582]

@@n.m.8802 if the economy dies, people will die, but i'm not against quarantine, we have no option.

[@DarkArtistKaiser]

"Households are bringing in more money now than the start" Mostly cause people are being forced back to work during the corona virus, undoubtedly increasing the likelihood of infection. Its not a glamorous thing, its a "Calm before the storm" if anything.

[@mal2ksc]

Yup, the official line I deliver in my own song is "Die for the economy, sacrifice the weak". (Yes this is satire.) derputinfluffer.bandcamp.com/track/sacrifice-the-weak

[@jeiku5314]

Phew, seems like the Americans are tired of winning.

[@jon6309]

All Empires rise and fall. Wealth and power is fluid and not fixed forever. The US did not do their due diligence to maintain this power.

[@assassin_rk42]

@@jon6309 If the US economy fall so does the world economy

[@vids9190]

@@assassin_rk42 to an extend yes, however while the us economy tanks long term other economies reallocate their resources

[@davidg9469]

@@vids9190 You seem like a behaved fella in the comment section. So let me ask you I've been hearing a lot lately about the 21st century, what'd you make of it?

[@assassin_rk42]

@@vids9190 If the US Economy collapses so does over 40 trillion dollars worth of commodities etc.

[@thacerot4395]

Who would win: The most powerful Super Power nation to ever exist in history or one infectious boyy

[@20thcentury_toy]

Kung flu goes brrrrrrrr

[@leothel10n96]

People traveling in march go brrrrrr

[@willh2241]

@creapsmantic World's largest economy by quite a large margin, USD is essentially the default world currency that all floating currencies are valued against, a frankly gargantuan spending power from the middle class, 3rd largest population, extremely potent and diverse military forces, a massive cultural dominance. It has become very popular recently to trash talk the USA (and there's some valid criticism) but it is undeniably the sole super power.

[@willh2241]

@creapsmantic That's simply not true. They are the dominant country by a significant margin. The USA's debt "problem" isn't that much of a problem. If anything they're a victim of their own success, there's a large demand for US debt because (at least for the moment) it can be quite a lucrative investment. Of course they should be vigilant of growing debt, but it is hardly the crippling issue that people make it out to be.

[@Schimml0rd]

@@willh2241 the only thing making America a super power is the GI :D Exactly like Germany in 1940 ;) But ey

[@leifolson7660]

To be clear, this statistic was on an annual basis. That means the US did not LITERALLY lose 1/3 of its GDP. Rather, if this same rate of contraction were to occur across all quarters, THEN we would see a roughly 33% contraction. It may seem a distinction without a difference, but how you portray economic statistics matters.

[@MrFinnishbasterd]

I mean yeah he mentions it in the video

[@davidmalawey]

I visited the BEA website and it says "Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis." I see the words "annual rate." Does this mean it decreased at a rate by which 33 percent decrease would take place in 1 year?

[@bananalord8461]

The US dollar is now worth it’s weight in US dollars

[@EconomicsExplained]

hmmm I mean you're not wrong.

[@GodwynDi]

@Dan Ryan But each is also the same weight as itself. So he is right also

[@banriswirl6414]

@Dan Ryan remember that the thing backing the US dollar is debt. It's effectively a currency backed by more of itself that doesn't exist yet.

[@Omnigreen]

You need to show graphs and schemes for better understanding of what you're saying instead of stock footage.

[@wiryantirta]

these kinds of vids are something you treat more like a podcast. the visuals are just... there. minimize, tab out, and do something else while while you listen

[@sethheristal9561]

I love stock footage because the joke when talking about stock gets me every time but yes. However it depends on their format decisions

[@australianbleach8594]

Me: Wow this guys making a good argument I should worry *Glances down and sees 12 mins remaining* Me: Oh no My mum: Oh no My Cousin: Oh no My dead grandma: Oh no The ghost of Karl Marx: Oh no

[@epicjonny155]

Let me watch the rest

[@Kaiserland111]

Kool-Aid Man "Oh YEAH" P.S. We'll be fine in a couple years.

[@kpencil859]

Coolaid man: OH YEAH!

[@trevbarlow9719]

Its Kool-Aid

[@lucassherrin9910]

EE talking about how making money off stocks shouldn’t be easy. Ad: Hey you, would you like to make a million dollars off of buying and trading stocks?