The truth about the recession - by David Mitchell

David Mitchell speaks some truth about the current recession ;]

[@VisserGoedHart]

I wish some wanker banker would type in some more numbers on my bank account.

[@KingofStrawberries]

...wouldn't that just add to the negative amount you've got in there?

[@henrikhyrup3995]

Oohhh, shots fired!

[@karlconnolly3994]

Give me your banking details and we’ll see what we can do.

[@Henry-kz4gn]

maybe if you gave a banker something to wank to..

[@Musicienne-DAB1995]

Tell me about it!

[@lpr5269]

"It's not like all the pigs in South America died of blight." Classic!!!!!!

[@pixiniarts]

If David Mitchel, Frankie Boyle, Steven Fry, Charlie Brooker went into politics started their own party they'd have my vote in a heartbeat.

[@nagertwi1]

That would actually get me interested in politics.

[@Darkstar263]

+charltonw Me too

[@DendyJungle]

Geoff Nattrass a party for clarkson already exists- ukip

[@NateSean]

Fuck, I'm not even British and I'd vote for them.

[@Cupit29]

Clarkson was remain.

[@mctim89]

i really like frankie boyle and david mitchel together, think they're a good combo

[@vonteflon]

mctim89 I've noticed that Frankie Boyle used to laugh whenever David Mitchell made a joke. Most of his other fellow panelists never seemed to have that effect on him.

[@mctim89]

yeah i noticed that as well. i think mitchell's comedy is to his taste

[@MattJames1958]

Hugh Dennis always seemed to make Frankie laugh

[@tomkenning5482]

Poodle Cuss and that comment tells me you've not watched much of either

[@demonmonsterdave]

lol you

[@kiyos4381]

David's analysis is shockingly spot on

[@sbeast64]

Even though this clip is really funny, the best part is that there's more truth in the words of David Mitchell than all politicians combined. Go figure.

[@jdawn1982]

David Mitchell always makes me laugh so hard

[@Nullllus]

He makes me hard too.

[@randomaccessfemale]

He makes me come hard too.

[@IceeFish]

These 2 are something

[@KaliberKing]

A heartfelt compliment from Frankie Boyle! Only David Mitchell is worthy of such a thing.

[@harrydrake4173]

Russell Howard always trying to jump in with some shitty pun.

[@tomzablee]

LOL, so true

[@WH1SK3YJ4CK]

I have no idea how the fucker has his own show now.

[@andrewcooper8309]

+WH1SK3YJ4CK Because people like him

[@TheCowiejr]

+WH1SK3YJ4CK Because he got better.

[@lf8198]

+Andrew Cooper I mean, being cute is 35% of it, let's not lie here. If you were a straight woman (or gay man?), you'd understand.

[@Aemoth]

Oh, how I love Mitchell's angry logic and his rants. They never cease to amuse me greatly.

[@PaulHutchinsonLivesHere]

Back when this show was awesome. David Michel and Frankie Boyle, that'll never happen again :(

[@sporkafife]

I agree. Nowadays it's just a bunch of comedians fighting with each other to get their jokes on TV :(

[@bibliophile927]

I swear sometimes David Mitchell reminds me of a British Jon Stewart...LOVE BOTH OF THEM

[@LLlap]

i love how everybody listens attentively when Mitchell starts ranting

[@666deadman1988]

David Mitchell SHOULD be on Newsnight. Actually, he should be on every current affairs programme on television offering his hilarious rants.

[@thewyj]

It's awesome that Mitchell doesn't even pause. But I bet he was thinking "Silence Howard! I am on a rant and if you have seen any of my rants before you will know I am not to be interrupted!" or words to that effect.

[@elamplough1]

I think he sums up the system quite well!

[@georgerogers2120]

Well this is feeling more and more relevant.

[@wwyd4akb]

anyone else find frankies approval of david bizarrely wonderful? they should do a show frankie could piss off/scare/offend the audience and david could rant about the audience being pissed/scared/offended

[@blazesedzikowski1071]

He should do the stand ups. I would love to watch it. I dearly recommend all David Mithell stuff mostly his books. It's brilliant.

[@BaldMancTwat]

Still true 10 years later. And he's just come out with a new book.

[@Ryoushadow]

Best part of the transcribing is "Sunk or anything" being translated to "or some Korean".

[@Aornum123]

Let me quote Gekko here:"It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another."

[@DanTheStripe]

David pretty much summarises the entirety of The Big Short (2015) here.

[@tsimon1234]

I love how I'm watching this 3 years after David said it and we're still in the same bloody recession! >:/

[@AnkurBorwankar]

Hi I'm from 8 years into the future and I have some news you're not going to like...

[@peterclarke7240]

Hi, I'm from 2022, and you're not going to like this at ALL... 😂

[@reverseengineeredbot3387]

@@peterclarke7240 who will would have thought 2008 was a good year

[@spacemonkey._]

Boy do I have news for you all

[@Treblaine]

For people who care it's actually the other way around. The point is someone did effectively just "type a bigger number in" that's what the housing bubble is. The houses aren't worth as much as so many people thought they were. And the system of lending money to keep businesses running has lead to REAL loss in productivity. Factories are shut down as well as if they had been blown but by the Luftwaffe only they are shut down as they can't get a lone to pay for the raw materials they need.

[@GEM4sta]

You're very mislead. The houses weren't necessarily worth less than they were selling them for. And the housing bubble is really the very tip of an iceburg.

[@Treblaine]

***** "Houses are worth as much as they're sold for. Always." Well DUH, in a self-fulfilling definition loop of defining a term like worth right back as "the price it sells for". But the whole point of a bubble is that worth can be completely out of touch with reality. The problem with using wealth so broadly is it becomes impossibly to really talk about if houses are arbitrarily far too costly to afford than they really could be. It's fine to have these games of SUCH arbitrary value for luxuries like art, or for financial instruments like currency. But we are talking about people's fucking homes here. People are either ending up homeless or forced to fritter away their wealth on renting their home. I think it is YOU who is playing dumb to economics, as if a very well funded and connected buy-to-rent company is the same sort of buyer as a cautious first time buyer who banks are reluctant to give any substantial mortgage to. They are NOT going to have the same spending power OR possibly buy as hastilly. It gets rather tedious when homes are built that they know local skilled workers can afford only to find EVERY SINGLE LOT bought up to be rented out! And the rents are as high or worse than any mortgage payments. It's completely out of touch the idea that people going at their own pace will buy up these houses before. The result is people pay as much or more but for a home they don't own, will NEVER own and are just paying their landlord's mortgage plus extra on top. My parents did this, they got VERY rich off it and honestly they say they felt it was the worst thing they've ever done. They had just economically screwed dozens of other people.

[@theamici]

They were worth less, their value was inflated artificially by people given loans they could never repay.

[@theamici]

Houses are worth as much as somebody can pay for! The problem was that people couldn't really pay for them, and so the prices were inflated beyond what the market could manage.

[@aravishermione]

David is brilliant!!

[@Szaam]

"because they're arseholes" love him!

[@eveaci]

Well this is pish.

[@a3aan__uit389]

The Daily Show by David Mitchell. I would definately watch it, even if I live in the Netherlands!

[@DMoots]

Words of wisdom yet again from David Mitchell, Banking will ruin the world soon.

[@stephanieb7330]

When you realise that David Mitchell actually used this concept on that Mitchell and Webb Look too 😂

[@angels77100]

Hahahahaha @ David Michelle. He's the best. Yes Frankie does respect David. I could watch this clip forever it never gets boring.

[@crozford]

Frankie's right you know, I'll be watching news night every night!

[@bobdy9988]

0:17 Frankie cracking up lol love how Dara and Frankie find each other so funny

[@JimmySteller]

The irony of Frankie Boyle urging Mitchell to comment on world news is that Boyle has a show where he does that very same thing.

[@NateSean]

We need David Mitchell to weigh in on the 2016 elections. (My side of the Pond, in case you're confused)

[@RollOnToVictory]

why? There's literally nothing he could say that Jon Oliver, Stephen Colbert, Obama, all of hollywood, news, academia or government hasn't already said..... the orange man's a nutter.

[@NateSean]

RollOnToVictory Yeah, well, just because it was said once doesn't mean we don't need a reminder once in a while.

[@robotzombienazy]

Just be happy that you got a dirty carrot instead of a spoiled to the core peach.

[@Bussipysakillah]

Somebody listened and now I'm being recommended a clip of David Mitchell on Newsnight.

[@crazyman8472]

I think he summed it up quite nicely. 😎

[@WiseAilbhean]

It really is scary. Most of our money is digital, or what David said numbers on a computer screen. There isn't as much physical money around.

[@ThePaxtonProductions]

Awesome video quality. I mean both image wise and what THE LEGEND says.

[@PlaskiJakDeska]

That certainly aged well.

[@newtonwhatevs]

His rant makes a lot of sense!

[@sadiexefronxcrawford]

Very smart reply.

[@slothfulcobra]

Yup, that's the financial industry. The catch is that when the numbers are good some people get a bunch of free money, so they have to scramble to fob off the bad numbers onto somebody like the taxpayer so the system all balances out,

[@madperson876]

lol @ Frankie, David should be on Newsnight!

[@jackbox1971]

Mitchell and Boyd... that is potent combo.

[@skitcap2705]

Hear, hear. Had to look this few times cause that's just so bang on. If anyone below tries to says it ain't so, that the numbers are something... Well, bring me the goods.. There is already more money in the market that there are goods on earth. By multiples.. We got enough money to buy three moons but not enough for feeding the poor. Tell me again, are those numbers real or not cause for sure, they are not appearing on reality. 99,9% of them just gets transferred to another account. Money has value only if it is used. If one can delete a bunch of code without anyone hurting, that's not a real currency.

[@jacqchan83]

Hey what season/episode was this on?

[@Lolzer626]

Yes.

[@daniellexxE]

@dubdesignnet It is my favorite thing EVER. And weirdly, it gets what Frankie says right more than the rest of them.

[@DMEB]

WELL SAID!

[@viddude098]

In case anyone was like me and wondering which episode this is from, it's from Series 6 and is episode 6.

[@BGlasnost]

...and it occurred at minute 6 #wankerillluminati

[@xv1distort]

People like David Mitchell need to be the ones in charge.

[@iharky]

@MINIHermanator hahaha! Excellent stuff.

[@ErrrrrrRia]

wow i love him!

[@betterthantelly2993]

This guy is brilliant.

[@shadow8277]

yaas comrade david mitchell has achieved class conciousness

[@Xanadis85]

That also!

[@Meltyclaw]

I knew I wasn't alone in that idea

[@cheydinal5401]

Basically, although also the number juggling lead to overinvestments in some industries (like housing), which if it's artificially kept up with printed money only increases and deepens that overinvestment into the industry, leading to too few investments (actual goods, not numbers on a screen) into other industries

[@bigpoppa693]

what show is this from??

[@woodpigeon66]

Definitely.

[@GeirV]

You rarely hear someone describe the monetary system in a better way.

[@FutureReverberations]

And thats numberwang!

[@Evija3000]

What episode is this?

[@WIlliamCarvill]

and on the 13th day, God made an NFT of this youtube clip

[@TheArcher101]

Unless I can hold it in my hand - it's not real and I subsequently don't give a shit about it

[@SongNadia]

Ahahahahahaha, I seriously first went "but isn't Mock The Week like that?" before I got it!

[@beepandbop]

@MonsterMozz great, another well educated person able to deliver fantastic retorts on demand! Or not. Don't quit your day job (if you have one).

[@quesondriac]

What year was this you are talking about?

[@sherlockfan16]

keep telling like it is david... we believe in you

[@88fredmcfred]

David on a rant is a fine site to see

[@a3aan__uit389]

I will, is there a place where I can see the most recent video's? not 5 min abriged segments on YT.

[@DrChalkwithering]

This was very funny...in 1992 when Ben Elton did the exact same joke about Black Wednesday.

[@Jcolinsol]

@princessotto Right, and no one is saying it hasn't caused hardship.

[@a3aan__uit389]

Where can I watch this show?

[@TacticusPrime]

People were allowed to "buy" houses in America that they couldn't afford, because the people who loaned them the money knew that they wouldn't be on the hook if they had to default. Unfortunately, banks around the world and huge insurance companies decided they WOULD be on the hook. So there are lots of people in houses that they committed to pay for at a much higher price than they can actually pay. That's the only semi-real part.

[@MuslimahMelika]

Click on 'CC' along the bottom then click 'transcribe audio' :)

[@shokill]

Wanker Bankers... Hilarious!!!

[@leviadragon99]

Telling it like it is...

[@dragonforce525]

Reading that made me push my glasses up, damn you.

[@cl0vvntiem]

David Mitchell, Frankie Boyle, and Hugh Dennis go really well together.

[@Solensherre]

@MrCommentz "Any person capable of getting to power should on no occasion be allowed to hold power"

[@mycathasbeenstolen]

david mitchell is a legend

[@MrTBONESTEAK]

True. I still like David Mitchell his explanation better though :)

[@stevolution666]

@101Tonia101 yup

[@Jcolinsol]

@SeanHMc There is also that to consider.

[@the_letter_j9223]

Wanker Banker, Lol!😂 I'm so gonna use that one later!

[@KairuHakubi]

You should only care what people FEEL, not what actual sounds they make to express those feelings. It's perfectly easy for two people to use the same word to mean very different things. However, once you've realized it's what people feel that matters, you have to realize you can't start telling people what they are or aren't allowed to feel.

[@Ellimystic]

Wow, even Frankie Boyle had something positive to say about David.

[@BGlasnost]

that was pretty genius

[@MrDimebag1995]

wat season is this in?

[@NomadUniverse]

@dubdesignnet But also! Experimental indeed!

[@Treblaine]

The problem is those aren't numbers, they are promises. A trillion little promises to each other. When you start breaking promises, then suddenly even if you have all the resources you can't see them as you can't be trusted to deliver.

[@MMODoubter]

That is true. Money doesn't just disappear. Though, to a business man, if it isn't HIS, it might as well disappear. The real problem with the system, is that to make one man RICH, many people are made poor. It isn't a game played only by willing participants - EVERYONE has to play, and there are far more losers than winners.

[@Slapbass13]

I wish it was that simple.

[@Stigsnake5]

I kinda had a similar thought before, but if we lived in the same mindset as people used to live hundreds of years ago when goods were traded for other goods, how would we regulate how much is needed for a fair exchange for another type of good? Would we need to have a huge charter of how much is needed of one thing to get another? In some situations it would be physically impossible to buy things because carrying around goods is just inconvenient.

[@LanceDirk]

@101Tonia101 Oh my god, no David Mitchell for Supreme Emperor of the Galaxy.

[@Starthrust1]

@wimscheers Brilliantly done my friend ;D x]

[@JetJHall]

That was one aspect of Enron, the other thing they were able to do were to post there estimated profits as there actual profits, effectively making up what ever profits they wanted, which is what I was talking about :)

[@M1st3rB3nn]

Question Time is the one that usually invites celebrities on. David's been on that, along with a few others like Ian Hislop and Tony Robinson. It's quite weird when they go over to Baldrick to chip in about the economy!