Comments by "Darkpaw1" (@darkpaw1522) on "Economics Explained" channel.

  1. Imagine how it'll be once the student loan suddenly start coming short next month.
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  2. In Short: Old money that doesn't split inheritances (or split as much) cause a concentration of wealth that override any world wealth through centuries of strict controlled inheritances. In Long: Old money is essentially money that isn't accumulated through 1 generation, but rather multiple. Essentially a level was now found beyond old money. I'll coin this, Matured money. Matured money is money that is not only old but now gains money without anyone working for it, at all. It's not like a old money person who owns a rotation of real estate and a few solid businesses and long stocks; rather, these are people who founded stuff that existed centuries ago, or 4-5 generations back. Essentially, the wealth has matured and became so "old" that they no longer are controlling the wealth, they literally are the economy. Or in American, it'd be the equivalent of California leaving the U.S all at once, from just ONE family leaving the Dutch.
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  3. If there is a class system within a nation, then there is a class system among the world nations. We're all separate nations but we share the same Earth. For example, a poor person in America is a rich person in Africa. I don't think there is anything wrong with this, or more accurately it is the natural order of things. A rich person in Africa is still rich, a poor person in America is still poor. Nations are created to contain their economy. This will remain true as long as nations exist or resources become infinite.
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  4. California is on it's way to collapsing like Detroit did. The place is amazing for the rich but it's platform is weak. Basically it's like trying to build a pyramid with a weak base. So when the base started to shake from a rocky economic struggle like the pandemic, the top shook harder. It's why the first people to leave were the upper class, followed quickly by the middle class who own homes they could sell for literally an average of half a million dollars. This is not even mentioning the economic crash of 2008, so all those weakened structures just opened back up. Add this to tech (which ironically California attributed to) makes it that you don't need to live in California to get the "California" lifestyle. So you get people leaving. Add that the state is overcrowded and it's a sinking ship getting gradually worst, with well rumored bad policies that hurt everyone but the extremely rich or the homeless, it has very little reason to live there. Not that California doesn't have its positives, but like the video said California is following the same problems Detroit started and VERY fast. And I don't about you, but I wouldn't want to get trapped there like the people who didn't flee decades ago ended up happening, now with their grandkids living in one of Americas guilty scars.
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  5.  @eligoldman9200  I hear it's not as bad but still very bad, at least not in the realm of coming back imo.
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  6. 5 Years Marine Corp. A degree. And I’m homeless. Education means nothing if you don’t have connections.
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  7. Basically the labor crisis was a social bubble waiting to pop. Not even I want to work now because the $$$ is WAY too low labor.
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