Is Modern Capitalism Broken? | Patrick Boyle

[@NotPoliticallyCorrect407]

There is dry and then there is Patrick Boyle dry. 🙌🏻👍🏻😂

[@andybunn5780]

The most excellent flavor of British humor

[@Andy-P]

So dry you could gag on it. His assessment of the Saudi project was brilliant!

[@MarcosElMalo2]

@@Andy-PSo dry that by all rights he should sound like Tom Waits.

[@wade__]

That's what makes him so juicy

[@geospatialindex]

@@Andy-P what minute did he mention it

[@matthewvirth]

Patrick is one of the only youtubers i dont have to constantly fact-check.

[@iless664]

The sad reality is I recently discovered his videos are highly plagiarised. Really ruined them for me. It’s all over Reddit.

[@Imraphael_]

​@@iless664plagiarized from who?

[@iless664]

@@Imraphael_ WSJ

[@Imraphael_]

@iless664 he quotes them tho so it's not really

[@JohnTaylor-ts8wk]

I’m glad you brought on Patrick Boyle. I’m a fan of his podcast, he has some educational ones on financial history and deep dives and some hilarious ones with his wry sarcasm.

[@MarcosElMalo2]

I’m shocked you neglected to mention his career as a rap music producer.

[@feandil666]

He's one of the few guys that can explain finance, thoroughly, scientifically, and still give you enough humour to keep you awake

[@ptykozoon1658]

Fantastic point by Demitri. Basically he’s talking about a value system that underlies capitalism. Which is completely not a conversation today. Money is the only thing that matters in the US. And govt has to be the neck that sets some guidelines because the free market is a profit slave that isn’t going to resolve these fundamental issues.

[@danielhutchinson6604]

Treasury promised to support the FED in 1970, as they introduced the Fiat Currency that seemed to be the new method of promoting Credit and Usury. The objective of Credit is to provide a portion of the money invested in Credit, to produce some Interest. If they have nothing to sell the use of producing products is subjected to a lot of stress. The Unions organizing Workers to get them a fair share of profits, is diminished since 1980. The Investment Community seems to enjoy making their profits appear, seems tied to Usury, not producing products. The end result of eliminating Industrial production is the Workers who will be Consumers, no longer appear to exist. The flow of profits to the Investor Class has been diminished by industrial production being outsourced. The lack of flow from Investor to Worker and back into the profit chain, has run into a BRICS Wall. The Supply Chain that was delivering essential resources has stopped producing, as the former Colonies join a Trade Union. BRICS has formed a Trade Association that finds nothing within the USA worthy to spend money on. That has driven 159 Nations to look to the BRICS Trade Group for help in getting a fair price for their Goods. The US Dollar and the SDR that used the Dollar as a reserve guide for Trade Valuations appears to have ended.

[@MarcosElMalo2]

The economy is important but it’s not everything. One thing I would urge you to do is separating capitalism (the set of market mechanisms and processes) with Capitalism (the ideology/religion). “Small c” capitalism is a social technology, a toolset or a machine. I like to think of it a as an engine that powers the vehicle of society. If you accept this analogy (or are willing to entertain it), we are still left with those important questions you want to ask. If society is a vehicle, where do we want to go with it? Who gets a ride? Who drives? What safety features (think safety nets and social welfare) should be added? Do we want our society vehicle to be a race car? A luxury sedan? A bus (or other form of mass transit)? Once you start thinking about these questions, we can start to reevaluate the engine of capitalism. Is it the best engine? How can we tune the engine to suit the type of vehicle we want? This might all sound terribly abstract until you start applying the analogy to some fundamental economic questions and assumptions. Example: Is money a means of exchange or a store of value? Obviously money is both. Here is a supportable assumption: These two purposes are at odds with each other. If everyone is using money as a store of value, then it won’t be used as a means of exchange. This causes deflation. If no one is using money to store value, but as a means of exchange, you develop inflation. Still with me? So what happens if you find a point of equilibrium, with no inflation or deflation? Is equilibrium desirable? Well, then your vehicle is idle. A small amount of inflation (especially wage-based inflation) will move the vehicle forward at a lower velocity. Too much and you run eventually out of gas. This is what I mean by tuning the engine. At this point I want to throw in the concept of democracy, which is how we in the west get to pick the vehicle type, the direction the vehicle is traveling, etc. Democracy is also the mechanism by which we choose how to tune the engine, which includes regulations, setting interest rates, the variety of ways we can tax businesses and individuals, etc. And this is where ideological dogmas fail us, because we really need to tune the engine to meet different road conditions. Supply side economics might be the best to meet certain conditions, but are really bad for other conditions. We need to be open to the idea that different tweaks should be applied to meet the current conditions. It’s not capitalism that is failing us, it’s Big C religious capitalism and libertarian dogmas that are failing us. It’s why we have billionaires and millions starving and billions in poverty. Thanks for reading my comment thread essay. I don’t know why I put so much effort into writing these damn KZbin comments, but if you find these ideas useful, I guess it is worth it.

[@ptykozoon1658]

@@MarcosElMalo2 first off people that don't write typically have incomplete ideas. money/deflation/inflation: i think you are getting a bit off track - these are fairly basic common assumptions/not really first principles thinking, for example a low amount of inflation is a relatively new phenomenon, I'm not sure how you'd begin to argue it's empirically good, and it's found no where in fed mandate. they simply made it up, and now people think it's ideal. on capitalism, i think anyone who thinks americas economy is best defined as capitalist is an id1ot agree w pretty much everything you've said, the thing is we don't actually have to be too intellectual about this. nordics are similarly wealthy industrialized countries that are far, far happier. they do "capitalism" quite well and are far more "advanced" societies, but their tax policies/social policies would make the avg american faint. americans have simply been programmed by 40 yrs of plutocracy. undoing that damage requires the type of thinking demitri is talking about (or more likely the demise of older generations). every half century or so americans need to actually spark up a few brain cells together and think about what they want. otherwise corporations will continue to do it for them

[@danielhutchinson6604]

@@ptykozoon1658 You both appear to ignore the fact that Capital is not available to the average Citizen. The distribution of Capital among the Investor Class allows them an abundance, while the average citizen reports they do not have any disposable income. The appearance of $18 trillion dollars of Consumer Debt, leaves a major portion of Americans with little hope for accumulating enough currency to pay off their debt. The added interest as their debt grows, does not help them to emerge from debt. The idea that the cycle of debt that is supposed to trickle down as the average American begins to work as Gardener for the Bankers who collect the payments directed at the growing debt, seems like it never will end? You two discuss the ability of a small percentage of Humans who attempt to participate in Markets that are already overpriced and far beyond the ability of the average Citizen to participate in. Your observations appear to be Elitist and have little to do with the financial status of the Majority. But you are aware that Usury was condemned 5,000 years ago by Moslem Scholars who recognized the process as a dead end. Crusades were fought over that effect in my opinion, but the Roman Empire continued to push Capitalism and Usury. How are they doing today?

[@themeach011]

2 things. One. 2% inflation comes fron when the dollar was tied to the gold standard. Gold supply went up by about 2% per year as thats about how much new gold was mined every year. Second the problem with democracy in todays world seems to be that no matter what government you are voting for their only goal is to get elected/re-elected. No party can get elected running on a platform of what actually needs to be done to get this mess sorted out.

[@oneone9884]

love Patric's crypto view around minute 43

[@7overland514]

Patrick is successful on KZbin because he’s a rap god!

[@billyoldman3845]

shoutout to Victor Niederhoffer. A decision probably couple decades ago to hire Patrick led to a great youtube channel

[@roc7880]

COUNTERARGUMENT to Patrick and support for Demetri = there would have been no US (temporary) dominance in areas like nuclear power, computing, internet, biotech, satellites, communication, or agribusiness without the initial massive investment by the state for years.

[@MarcosElMalo2]

WWII, post war prosperity + Cold War defense spending, late Cold War ROI + prosperity + reinvestment based on technology development, post Cold War prosperity + ROI + reinvestment, are you starting to get the idea? This still doesn’t explain why we see this development, although it does suggest why. What were the enablers? Rule of Law, Democracy, trade with like-minded nations and nations willing to develop and adopt rule based democracy and market based economies, which expanded into global trade networks, U.S. Hegemony that protected the rule based order, are all factors that led to increased U.S. hegemony over the free world. I intentionally use the word “hegemony” rather than the far less accurate words like imperialism, cololonialism, or the meaningless neo-colonialism and neo-imperialism. Should we talk about reserve currencies and the historical accident or historical inevitability of the dollar becoming the world’s reserve currency? Should we talk about what U.S. hegemony replaced? Your claim is oversimplified and of low utility if we want to understand economic history, where we are now and where we might be going.

[@JHimminy]

We won the war for the empire. The empire wasn’t as lucrative as it seemed. Historical CPI suggests that every war the US fought ended - except for WWII, which, according to inflation numbers, hasn’t ended.

[@henghistbluetooth7882]

@@MarcosElMalo2As you say ‘you’re argument is of low utility’. This is not a counter to the argument this person made - in fact it supports it. He said that government investment is a large reason for US success. You then told him you were refuting his argument and then went on to list several times mechanisms of government investment. Are you getting the idea?

[@MarcosElMalo2]

@@henghistbluetooth7882 I would say that his argument was incomplete or oversimplified, not that it was wrong per se. Government investment alone does not create a hegemony. Modernization alone does not explain it. There are other factors involved that are equally important that I mentioned. I’ll throw something else out there, an assertion to chew on. It could be wrong. U.S. hegemony has always been based on a delicate balance between U.S. interests, the interests of our friends and allies, and our common interests. When we have tried to impose our framework of Western values through force of arms, we’ve failed. So here is the assertion: U.S. hegemony has been successful when we judiciously apply force and deterrence, and only with support from friends and allies. The U.S. hegemony has never been about empire building and ruling the world. That’s all the time I have right now. I can see arguments for and against my assertion.

[@mattolivier1835]

I disagree. What makes you think that the free market couldn't produce the same, or better? Government impedes innovation, not the contrary you silly statist. Gov't ALWAYS hurts progress in the long run. Gov't is evil and anyone who supports gov't is not only my enemy, but an evil person as well!

[@miguelherce5281]

Patrick Boyle is an informed, smart, and eloquent communicator. His deadpan humor also makes him an outstanding sit-down comedian.

[@BojanNiceno]

Patrick Boyle is simply great! His answers to all questions are spot on, but he also manages to add a pinch of emotions and his beliefs, all wrapped in a cool face and cool voice.

[@avocadoarmadillo7031]

I liked the pushback at 38 minutes, regarding free market's disinterest in heavy capital investment in new technologies, versus the market's capacity to utilize new technologies when developed.

[@ConanDuke]

It's working as designed: For a handful of wealthy families, at everyone else's expenses.

[@holobiont3197]

"We've got this system where the more you have to invest the more you are rewarded but we can't figure out why wealth keeps consolidating into fewer hands.' Given that growth has been positive and less than half of it is attributable to innovation, given that tax rates continue to flatten, it's obtuse to argue that this is not the desired outcome.

[@ConanDuke]

@holobiont3197 Stock buybacks, tax havens, and various other shenanigans creating an artificial bifurcated 'paper' economy with no relation to real economic conditions.

[@stereomachine]

Love Patrick's work!

[@zg-it]

Modern capitalism is nothing more than corporatism. The idea of free-market capitalism doesn't exist in modern society, we have arbitrary lines defining so-called Nations where you have small groups of people with the power of violence and force to manipulate markets and to take care of their cronies

[@andybunn5780]

With a deep study of history, I feel that society has always been essentially this in practice

[@Gunni1972]

@@andybunn5780 Capitalism, especially the "competetive" part, is a lose-lose business over time. Traders can (in order to stay competetive) only trade what they get with a "discount" at some point. Once the Manufacturer can't rake in the subsidies to GRANT these discounts, the "Free Market" breaks. And bare socialism (Tax money) compensates for it. That's when the house of cards collapses. Banks are "Money traders", so their losses cost the tax payer exponentially more, than a manufacturer, when they have to be bailed out.

[@SP3NTT]

Oh damn... Was about to say I'm so glad you had patrick on because that's the only reason it popped into my feed. Only to fins the title subject is hidden behind a pay wall

[@skypickle29]

When the world went from a bilateral polarization (capitalism vs communism) to a multilateral competition (where there are several large players), the complexity of the network effects have led to financial and political instability. The analogy I would propose is to consider the orbits of a system of two planets (which is calculable and predictable) versus the orbits of three or more celestial bodies

[@danielhutchinson6604]

Communist Nations used Capital as a tool to obtain products they did not create. That process has ended and Communist Nations now appear to have what Capitalist Nations need. That conundrum is not faced as we discuss the fact that the BRICS Trade Group now represents around 70% of available resources. The comparison of Communism and Capitalism as social structures need to recognize the ability of other alternatives to be accepted. The foolish assumption that there are only two basic forms of Social Behavior, seems to lack any reality?

[@4terrascorned]

Modern capitalism is performing exactly as designed. Doing everything unregulated, unaccountable, capital has always done. Getting away with everything we didn't allow it to get away with for the better part of the previous century. Convincing the 80% of us who have gained nothing from it in 40 years that its the only and greatest thing ever.

[@p.d.stanhope7088]

One of the few things that hardly gets mention about The Great Depression besides the economic downturn was a decade of huge technological innovations. On both sides of the Atlantic mathematicians Alan Turing in the UK and Alonzo Church & Norbert Wiener in the U.S. were laying the groundworks for Computer Science & Engineering.

[@avocadoarmadillo7031]

Boyle's sardonic style when reporting on financial news tickles me. Enjoyed the interview :)

[@Truthtoat]

Huge Fan of Patrick

[@eastudio-K]

Ah! My two favorite podcasts!

[@Pappaous]

Patrick is the man.

[@Al-xq4ec]

Western countries are nowadays way closer to socialism than they are to capitalism, which should be better referred to as the free market. And here lies the problem: people criticize modern mixed markets and pretend it is a free market. Some people do it out of melice, some from lack of understanding, and sume just don't care and blame the first thing that comes to their mind.

[@mattolivier1835]

Yup. You are correct. Capitalism died in the west over 100 years ago. What exists today is corporatism and socialism. It's disgusting.

[@georgewood00]

Great to see Patrick here

[@PlanofBattle]

29:00 on Japan. "..generating GDP without generating wealth..". Lovely phrase.

[@Indeed48]

Most modern democracies aren't capitalist, they are corporate socialist states.

[@mattolivier1835]

EXACTLY!

[@Varun2799]

Drink everytime Patrick says interesting

[@MandaClaudiuMCM]

The idea of infinite growth is broken.

[@mattolivier1835]

Of course. Only a fool like you would want infinite growth. Capitalism doesn't require it. Corporatism, however, DOES!

[@veyselbatmaz2123]

Make a video on this book: "Digitalism vs. Capitalism" to explain how capitalism is broken down.

[@garrenosborne9623]

Thanks for reference🙏

[@danielhutchinson6604]

If the facilities of the US Treasury now are unable to support the use of Capital, what organization can find the Capital to back any Digital Dollar as the Economic situation goes sour? Currency Crisis was what formed the situation in 1967, Fiat Currencies appear to be feasible until they are not.

[@veyselbatmaz2123]

Digitalism is a new mode of production. It is not a new political or fiscal system. The superstructure would be ecumenic. Refer to my book: Digitalism vs. Capitalism

[@michaelsmit486]

Bait and switch title.

[@goodsir7298]

I know you said work for experience that is desirable but what if you are young in a country like Canada/Australia that has record breaking youth unemployment and not much opportunity

[@MarcosElMalo2]

You avoid working for free, and you use your free time to learn. You can create your own learning experiences. Example? Let’s say you are unemployed or vastly underemployed. If you can manage to scrape together $50 bucks, you find a wholesale source of tubesocks, buy $50 worth of socks, and then go sell them at a mark up on a street corner. If you really do this, you will learn lessons that you won’t learn if you merely use this example as a thought experiment. If you get shut down for not having a business license, you’re learning about government regulation in a way you won’t learn in a book. If you make a profit, you learn about how to allocate your profits. If you don’t make a profit, you analyze why you didn’t and try to figure out a new strategy for selling socks.

[@davidhorn2248]

Remember also that change always obscures a real opportunity

[@susanlippy1009]

During every depression there were fortunes made. Generally by people who had drive to overcome. Not everyone is unemployed, what separates those employed where you want to be and yourself? Find that and your issues go away. What value do you bring to the table? If your idea of employment is one way no one is going to bite. You must have something of value so take stock of what you have. Good education? Special skills? Ability to lead? Team player? Flexible? What examples do you have where you accomplished a goal. Take stock as this will bolster you to keep going when you see doors closing. Yes it will be hard. Still if you persevere imagine how you will feel. Figure out where you want to go and each day take one step to get there. This economy will change rather you keep moving forward or not. You can be closer to your goals or where you are at now when the sun comes out. Up to you.

[@Th3SilentObserver]

What a wonderful zero nonsense talk. Thank you so much

[@The.world.has.gone.crazy...]

Where can i find part 2?

[@alphaomega1351]

Da movie 🎬 theater 🎥. 😳

[@fermin7c1]

holy pontificating host, batman! Patrick has the patience of a saint

[@detectiveofmoneypolitics]

Detective of Money Politics is following this very informative content cheers VK3GFS and 73s from Frank

[@nothingtoseehere5760]

Lol money is important to young people now becausae NOBODY IS OFFERING ENOUGH MONEY! Why is this so hard for anyone to understand? No young person can afford to buy an apartment in Boston on ANY SALARY.

[@SigFigNewton]

Worth mentioning that it isn’t that “modern” capitalism is broken, it’s that capitalism inherently concentrates wealth, and if we don’t want it to become as damaging as the power concentration seen in communism, there *must* be a constant redistribution back downward of much of the capital that flows, incessantly, toward the top.

[@theWebWizrd]

People say that, but where are the long lasting rich dynasties in capitalism? How many of the top 100 rich people today have grandparents who were also top 100 rich people in the world? I believe it was Charlie Munger that pointed out that historically it is just wrong ro say that capital keeps concentrated - rich families strongly tend to lose their wealth and new people make valuable things and get rich.

[@Aldo_Regozzani]

Yes it always was now it's internal contradictions break through to the surface for all to see who want to see

[@Al-xq4ec]

No it wasn't. In fact it has always fought up hill battle agains statist and later communist/fascist. Almost all the problems people atribute to capitalism are in fact caused by socialist thinking which than translates into insane regulatory positions. These regulations are in the end to blame.

[@Aldo_Regozzani]

@@Al-xq4ec I just wait and look at what's coming and I 0 is the number of fucks I give. 😃

[@Mastercane98]

51:06 What is the connection between capitalism and those issues? I can understand the inequality argument, which is unavoidable unless you want to disincentivize work and innovation, but what has the mental health of teens to do with capitalism?

[@MarcosElMalo2]

Gross economic inequality isn’t an inevitable consequence of capitalism if you live in a democracy and you don’t allow others to govern the economy with “religious” economic dogmas. The market is a mechanism, not a god. In a democracy, we get to choose how we adjust the mechanism so that it doesn’t benefit the few at the expense of the rest of us.

[@mattolivier1835]

@@MarcosElMalo2 Most voters are too stupid to know what is in their own best interests. Democracy is horrible. Also, in a free market there will be economic inequality. The question is why is that a problem for YOU?

[@janeteholmes]

It broke at leat 150 years ago and they’ve been patching it up with duct tape ever since.

[@iforget6940]

Then your saying we can go a 150 more years

[@janeteholmes]

@@iforget6940 No idea how you got that from what I said. I’d say we’re lucky it’s held this long. 150 years of hastily applied duct tape seems we’re living on borrowed time to me.

[@iforget6940]

@@janeteholmes I'm kidding, I don't know how long we will last.

[@janeteholmes]

@@iforget6940 We live in interesting times don’t we.

[@janeteholmes]

@@iforget6940 I should have realised you were kidding. Reality is so far beyond parody recently that my irony detection is apparently broken.

[@kristinashepherd3003]

Why does Education of a Speculator get such bad reviews? I’m truly curious.

[@life42theuniverse]

Capitalism emerged from the growth of surplus caused by the growing exploitation of oil. The global oil supply peaked circa 2012...

[@life42theuniverse]

Capitalism requires a growing energy supply to operate.

[@likemy]

where do you clowns come up with this stuff?

[@life42theuniverse]

@@likemy kzbin.info/www/bejne/oYukanukpZiUjJY

[@mikebaker2436]

I wish you guys had had a chance to cover Patrick's real area of expertise: Rapping and Rapper News.

[@danilotetesi7125]

When is done the comparison with young people today is taken into consideration life costs and similar? Another point is that in the past was obvious that doing sacrifice in the beginning gives you great opportunity is not anymore in this way.

[@brandonmorin1179]

I feel like this is capitalism's innevitable trajectory. You can wind the clock back to when we had a stronger social democratic state but fundamentally the ownership class grow powerful enough again to pull us back to where we are now.

[@Al-xq4ec]

Almost all the problems with modern system stem from socialist thinking. If you think about it rationally the modern countries are way more socialist than capitalist.

[@likemy]

Reality does not comport with your ill informed feelings. Look at the effect on prices that extensive government intervention has had on education, housing, healthcare, etc. Then look at the markets with the least government intervention.

[@brandonmorin1179]

You guys do know that a lot of the issues with capitalism stem from the financial sector, right?

[@Al-xq4ec]

@@brandonmorin1179 Which, besides healthcare, is the most regulated part of the economy. The last time I checked, the burden of overregulation does not exactly describe a free market; quite the contrary.

[@brandonmorin1179]

@@Al-xq4ec I mean, every time the financial sector has been de-regulated they've found novel ways of blowing up the rest of the economy and enriching themselves 🤷🏻‍♂️

[@crazydrifter13]

Audio on the guest's (Patrick Boyle's) end could have been better

[@hrnekbezucha]

Always has been

[@IdgaradLyracant]

The reality is that Capitalism cannot perpetually function with a Fiat currency system. The actual value of the Fiat currency is strictly defined by the expectation of perpetual growth to define the purchasing power of the Fiat currency. You have to have money, not currency, for capitalism to function longer term than it can with Fiat Currency.

[@skypickle29]

If the unwinding of the carry trade caused the Aug 5 dip, then why is the market back up? I think it was an algorithmic hiccough. This is what happens when you let AI trade your stocks. It will eventually become smart enough to enslave us through debt.

[@gnosticallyspeaking3544]

Think you are correct. A major algo instigator is headline feed. Then algos test sentiment and manipulate from there. So ridiculous now, Pelosi stock headlines can move prices. If interested, investigate how guys like Daniel Drew and Jay Gould manipulated in 1800s and stock pools worked in 1920s. And you'll know a lot about how the algos work today.

[@ADobbin1]

It never worked in the first place.

[@JMSouchak]

54:15 ...We need to trust Congress... to decide what we can access as far as social media?... 😅

[@NeidlichesSchwert]

Twenty minutes in I had a college-level's worth of logical fallacy lessons.

[@oOEmberOo]

If you have to ask the question the answers not likely no.

[@jeremiahp]

I really want to know WHEN capitalism wasn't cronyism, corruption, predatory and monopolistic. There's never going to be an economic ideological utopia of any flavor.

[@mattolivier1835]

It wasn't before government. Government corrupts and the larger the government the more corruption. That is to say, to the extent that gov't is big, capitalism doesn't exist! What exists today and for the last 100 years in the US has been corporatism. What is needed is a return to capitalism! Gov't corrupts everything, not just capitalism. Yet fools (the majority of humanity), KEEP supporting gov't. Hahaha.

[@nPkB561]

A great duo !

[@CloudParadox-is1jc]

Hell yeah modern capitalism is broken.. I'm still trying to get my piece of the pie though 😊

[@MJ_Brennan]

Capitalism (modern or otherwise), is working exactly as expected.

[@PetraKann]

Corporatism

[@marsmotion]

bingo

[@tuckerbugeater]

@@marsmotion from communism to anti capitalism

[@Wilson84KS]

The only possible outcome due to the profit mechanism, competition and consolidation, finally collapsing in a chain reaction of deficiency of purchasing power due to general Market Saturation, always, inevitably, because it is built on exponential growth of consumption but neither human needs are infinite nor required resources, which simply shows that it is an anti-economy.

[@xchazz86]

Ponzi economics everywhere.

[@ctbur]

I came for the video title and after 1h, nothing was said about it. But now I'm supposed to pay. Trash bait and switch.

[@Ratgibbon]

No questions about the state of the rap game. 0/5

[@SedosoEstrella]

Government spending of 50% is not capitalism.

[@nickolaiorlov4732]

Not one question about his rap career. Im pissed.

[@simonmojarad4806]

0 value , 100 personal stories. You forgot to ask what he eats for lunch or what his favorite late night music is.

[@yttean98]

Is Modern Capitalism Broken? ; To save time No need to watch 55min of Video. Answer: Yes.

[@MarcosElMalo2]

I take your word for it because I am uninterested in why it is and unwilling to think or do the work necessary to understand why it is broken or why it might not be. I am mentally lazy and don’t want to be inconvenienced. Thank you for keeping be ignorant but self-satisfied.

[@yttean98]

@@MarcosElMalo2@MarcosElMalo2 I have seen many of these kinds of videos already, so my answer is to save the viewers time by not making them watch another 55 minutes of this video.

[@togoni]

The questions could have been much better

[@patriceblakeway4421]

You guys must be hard up for cash. First you get us fixed and then you demand money.

[@gregmoore66]

Whenever capitalism takes hold in a country, then slowly , yet inexorably, wealth becomes concentrated in the hands of fewer and fewer people. Just read: Capital in the 21st Century.

[@TheRustyLM]

And when Marxism takes hold in a country, it rapidly spirals a country into grinding poverty and murderous authoritarianism that drives its able-minded and ambitious to flee to other nations that honor private property and individual rights.

[@MarcosElMalo2]

Is there an economic system that hasn’t led to concentration of power and wealth in the hands of the few?

[@ptykozoon1658]

On govt subsidies, Patrick doesn’t seem aware of his cognitive dissonance. Mentioning Pettis who has the opposite view, and mentioning crypto and private funding. Doesn’t seem aware of history. Just wants to push his idea regardless. Maybe it’s a political thing. Don’t think he really understands production/trade.

[@Oldguard_8]

Capitalism is not broken, but in the USA, it is burdened by unsustainable socialist redistributions. It seems we are desperately trying to emulate the failed Euro policies.

[@MichaelC-md3pr]

It really looks like a cgi ai creation.... What happened to you Demetri? This is rock bottom dude. What's crazy is the picture in the thumbnail is real, but the video is awkwardly deepfaked

[@logical-machine]

This is definitely not an ai deepfake. You clearly don't have a good sense of what deepfakes look like. Yet you felt so strongly about it being one that you accuse the video creator of hitting rock bottom. Bizarre

[@Mastercane98]

ahahah

[@sCiphre]

Agreed, the real Patrick doesn't blink and raps a lot better.

[@Cloakdasasin0]

You should really title your videos based on the content they actually contain in the first hour, not bait ppl into a last minute reveal that the topic they clicked for is actually paywalled. No reasonable person would expect you to work for free, but the bait and switch is a bad look.

[@nohopeequalsnofear3242]

He reads the FT? Why does he read propaganda?

[@TheVeritas2100]

***Is Modern Capitalism Broken?*** NOT REALLY .... all you have to do is to listen to Lex Fridman's recent INTERVIEW of Javier Mileii ( Argentine PresidenT) - it is LONG, but its worth more than having PhD in Econmics from the Lefty Universities like Harvard, or Yale ... 🙂

[@Daniel_o_r]

Is investing really that difficult? This has not been my experience. I am self taught and only started learning in August 22, started investing in September 22… I’ve had a 93% return on my SIPP and the stocks/shares ISA is at 89%. I did not even realise that this was that impressive. I only invest in the FTSE 100 or the S&P 500, I also have 1 company that is listed on AIM. I don’t even really know what I’m doing but I have read the Peter Lynch books and the intelligent investor by Benjamin Graham, I also follow Patrick’s channel. Investing is not a topic that was ever discussed around me in my social circles growing up, I never even knew what the DOW etc were other than some numbers that were mentioned on the news sometimes. Those figures will actually be higher as I’ve made 14.73% over the last 8 days…

[@MarcosElMalo2]

Honestly, this almost reads like bitcoin spam. The next reply will be someone asking for how they can get started, and another reply will suggest an adviser, followed by another that seconds the recommendation. This is the dumbest scam in the book.

[@Daniel_o_r]

@@MarcosElMalo2 no scam, that’s been my returns in my first 23 months of investing, although I added more weight so it’s currently 89.86 on my ISA and 86.34 on my SIPP. I haven’t invested into a single loss yet, some have gone down but they’ve all ended up with at least a small profit. I don’t do day trading though

[@Daniel_o_r]

@@MarcosElMalo2 you won’t be getting any advice, I’m not a professional or qualified and that would be illegal 😉

[@Daniel_o_r]

@@MarcosElMalo2 it deleted one of my replies with my actual returns since adding more weight, I have them accurate for today, but never mind. I still haven’t seen any reason to call investing hard though, seems to me that it just requires “common sense”.

[@patbyrneme007]

I feel that Patrick has a very out of date understanding of innovation. Hard to believe that he is still talking about people tinkering in garages. New ideas and inventions are only the beginning of the innovation process and often the easiest part. Somehow we have forgotten Edison's famous phrase that "Genius is 1% inspiration and 99% perspiration". Coming more up to date, Elon Musk has often talked about how he is not impressed when people approach him with new ideas and designs which describes as the easy part. It is the process of putting new ideas into successful production which is so diffucult and makes all the difference. The problem for Musk is that he is having to compete against the Chinese who understand this all too well. Coming on to China, it would appear that economists in the West are not following what is going on in China. How the state there is seeking to enhance the advantages of the capitalist method - fierce competition, flexibility and speed of operation, with the advantages of state direction - long term planning, public investment, cooperation etc. Thus we are seeing scores of technology clusters being formed, targets set to replicate and then lead in each sector with local and central government providing all the logistical etc. support that private companies need.

[@gregorysagegreene]

Man, "I feel like" I wasted a whole hour.

[@stephensuddick2557]

Duh.

[@roc7880]

yes, but Patrick and his friends were part of the problem.