Comments by "Daniel Larson" (@daniellarson3068) on "Econ Lessons" channel.

  1. Wow! Sounds pretty hopeless in Russia. Sounds like Putin is making the country into one giant slum.
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  2. I think this guy tells it like it is. I really wonder why the current US administration can't or won't call out the evils that Russia is doing. Their idea to "normalize" relations with Russia is bizarre.
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  3. Normally, I think this guy is spot on. I didn't disagree with any of his fine rhetoric. However, I don't think people are thinking of freedom and liberty when they choose dollars instead of rubles. I think its simply a risk calculation. The dollar is more stable. The trend is your friend as Mr. Biernat says. The trend shows the ruble falling. The trend shows the dollar stable. Why take a depreciating asset in payment over a stable asset? Now, let's hope US policies keep the dollar as a relatively stable currency. Good video.
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  4.  @marthamadrid6100  I don't live in Canada. I see Canada as a resource intensive country. I see Europe as a land that can use those resources. Canada can make money selling the resources. Europe can consume the resources and manufacture value added products from those resources. What is the nonsense?
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  5. This guy may be right. I mean he spends more time thinking about it than the rest of us. I don't think I need to meditate on it. They used to grow potatoes on my grandmother's farm. It was in a colder climate. I guess like Russia. The productivity of the land was less than areas with longer growing seasons. That farm has gone back to being trees. Ukraine is blowing up Russia's oil refineries. Ukraine is now going after electrical production. In a month or so, the machinery to harvest the potatoes for the masses may not have the required fuel for the harvest. Less men will be available for the harvest. Hungry people may not want to put up with this unnecessary war.
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  6. Good Video - Mr. Biernat held up an index finger in this video where he described Trump's actions. I guess I would have held up another finger to Trump.
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  7. A visual aid showing the equation may have helped. I found this: GDP = Consumption + Investment + Government Spending + Net Exports or more succinctly as GDP = C + I + G + NX Applying a little sense shows you are right. Consumption has to go down because the products aren't available. Investment by both people inside and outside Russia has to have dropped. Who wants to invest in Russia? (High Risk) Government spending is up, but that is using up saved resources. They build stuff to be blown up and pay their military. Net Exports are down due to sanctions. Russians lie and say things are great. Are they trying to convince us or themselves?
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  8. Good Message - I understand they have inefficiencies due to their corrupt system. However just today I heard the average pay in Russia was about $300 month. Their soldiers are happy to enlist because the pay is about 2 grand a month. So, doesn't the lower labor rate make up for some of those inefficiencies? I also wonder how much the flooding will hurt them. Hopefully the aid will be the straw that breaks the camel's back and end this war.
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  9. As usual - This guy makes a lot of sense. Capitalism can work well if the Capitalists are good people. When people like Ayn Rand and the Libertarians are held up as the Capitalist model we should aspire to, Capitalism does not look so good. Let's hope the Ukrainians can continue to damage refineries and shut down Russian oil production. Let's hope President Musk does the right thing.
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  10. Russia uses its men like other disposable products. In normal societies these losses would be signs of trouble. However, Russia looks to its vastness and sees that there are many more men to consume like any other resource.
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  11. This one created some conflict when I listened. Mr. Biernat spoke of loyalty and it's values. I thought of Donald Trump and how he chooses people based on loyalty rather than competency. The bad idea of selling out loyalty for money certainly applies to Donald Trump. He may readily admit it as he does not readily expound on the idea of noble principles. Behind closed doors, I suspect he laughs at people that believe in more noble humanitarian principles. As I listened I do believe the word loyalty was being applied to loyalty to principles we should aspire to. The idea of the war in Ukraine being a war being a war for humanitarian principles makes a lot of sense. It's the most clear battle of good vs evil that I've seen in my lifetime. The folks in Ukraine should be supported. thanks for the video.
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  12. Thanks for the video - I looked over a lot of the comments. I looked for a rebuttal to your economic claims. I found none. Tariffs are a tax on the American consumer. You pay more for stuff so you buy less stuff. What some call the velocity of money slows down. Factories close, people get laid off and the slowdown continues. It all kind of makes since. Then he wants to help Russia? Not good.
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  13. OK - So the tariffs will cause the economy to shrink. Makes sense to me. Good Video
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  14. They have Rosotom. They build nuclear power plants for other countries.
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  15. Good Video - Russian Culture - Most of their stuff seems to be copies of stuff done someplace else. They don't seem to invent a whole lot of stuff.
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  16. That mysterious looking stuff on that doorway. Wow! I think he hit the nail square on the head when he notes that there is no talk of liberty, justice and higher principles coming from Washington. Donald Trump is not one who gives me the impression that these higher principles are really part of his character. I think he needs to be sold on the idea of helping Ukraine. There has to be money in it for him.
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  17. I had a good conversation with a man who slept outdoors in our Midwest Winter weather a couple days ago. He had 2 college degrees. He had medical and student loan debt. There's a whole lot of big holes in the safety net.
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  18. So once again this guy makes some good points. I think about things a little different. Money is a tool. Money is a way for you to exchange value. To do that it has to be somewhat fixed. It''s not perfect. For some reason they want 2 percent inflation, but inflation is usually slow enough that it's relatively fixed. "Normal" money is easy to use. You can have physical money or credit cards. It does the job for people. This crypto currency seems to have variable value. Would it do the same job for me in buying my milk and eggs? Probably not. I don't think normal people were asking for this "improvement." I don't think it solves too many problems of normal people. Maybe, they should have been working on a better mousetrap instead of cryptocurrency. Good video!
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  19. Quite a lot to unpack there, but the message was pretty simple. The value of the Russian currency is decreasing despite efforts to prop it up. Mr. Biernat is kind of like a doctor and his patients are countries. He's giving the news to us that there is a good chance that Russia won't make it. Russia has lived a rough and foul life. Some even call Russia an alcoholic. Russia will be buried in Potter's Field and won't be mourned.
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  20. Good Talk - One minor point. The Americans back in the day when the events in the sign took place did not care about the Seminoles as human beings. There are a group of people who think their leader can make peace by trading away Ukrainian land. These people are like those earlier Americans. Most of them care not for the Ukrainians as human beings.
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  21. Mongols grew up. Mongolia is known as a peaceful place.
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  22. Thanks Mr. Biernat - Over 50 years ago, I remember hearing the joke that nuclear fusion is just 25 years away. Maybe, the 25 years is almost up. Thanks for the optimistic video.
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  23. Economists give themselves an "out" for your argument. They call it "externalities." I guess you could refer to them as extenuating details. Sometimes these free market advocates do not consider all these externalities. the loss of jobs in North America, additional pollution and global warming when things are manufactured elsewhere and the loss of defense capabilities are perhaps externalities.
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  24. The point was made that an hour worked in the US goes further both in terms of the quantity and the quality of life. The thought occurred to me that the wage differential would mean jobs could be off shored to Russia. However, their instability and lack of regard of the rule of law will prevent this.
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  25.  @johnm7267  They may try to preserve their defenses, but they have started something that they cannot back out of without losing face. They have not the wisdom of Sun Tzu. Russia could have achieved its ends without any battles, but they were not wise.
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  26. I don't think they love their kids.
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  27. What happened to the pizza? H G Wells may be looking down with admiration on all the stuff melded together for this. I think Socialist H G. Wells would even forgive Mr. Biernat for his capitalist beliefs. Both economic beliefs would share the idea of light over darkness. An "A" for creativity on this one.
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  28. Thanks Jake - Your descriptions of this complex topic provide great clarity. It's almost like a hot knife through butter.
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  29. "Never underestimate the power of stupid people in large groups." - George Carlin
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  30. He made more sense than the Polish graffiti behind him. Russia's production seems increasingly exposed to drone attacks. Ukraine's production doesn't even have to take place in Ukraine. It can be in places that cannot be harmed by Russia. This seems like it can be a tremendous advantage that goes beyond the measurement of production capacity. Thanks for the video.
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  31. How about all those oil refineries that have been damaged? Farm machinery needs fuel. (Even horses)
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  32. If Russia sells less oil, investments in new capacity will take place elsewhere and the gap will be filled. Sure, the price may be a little higher for a bit. However, once producers see greater margin in oil, they will likely overproduce and the price will drop.
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  33.  @peterwilliams2152  Is it like that throughout that huge country or only in the two big cities in Western Russia? It is said that a substantial minority of people do not have indoor plumbing. It is said that the wealth is not shared among the many but only a privileged few live well. It is said that all that oil wealth was not used to invest in the people. Are these things true?
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  34. That mushroom intro was good. Quickly two thoughts entered my head, the deadly Amanita and psilocybe mushrooms. That experiment could be bad news. Then you explained it. I'm no economist, but I can still think. As was mentioned, this is outside the realm of normal macroeconomics. Maybe, it's more of a microeconomic thing. The Russian ruble is a commodity. It's a commodity with very limited demand. The demand is primarily within Russia itself and the folks who run Russia are dictating in various ways as to how many rubles can be exchanged for goods. It's a true fiat currency. The folks who run Russia tell the people of Russia that this currency is worth so much. Since the outside trading done with that currency is now limited, it's value is seen higher than it actually would be in a free market. The trade within Russia is propping it up. The Russians expect their commodity, rubles, to be worth so much and trades showing lesser values of the ruble are refused. The value is based on what the Russians believe it to be worth in conjunction with the government edicts of worth. I hope my amateurish gobbledygook made some sense.
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  35. Good One - I read all the comments. No Russians made comments. Perhaps they will be coming later. At the end you spoke of desperation: Emerson said: "The mass of men lead lives of quiet desperation. What is called resignation is confirmed desperation." The quote seems to fit what we've been hearing about Russia.
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  36. An Optimistic Video for the weekend. Here's what I heard - It appears that most economies are built like a stack of cards. If the US and EU just keeps doing what they are doing, then that stack of cards will collapse and Russia should have to talk. People lose when they play 52 pickup.
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  37.  @johnwalsh4857  Hope So - “History doesn't repeat itself, but it often rhymes.” - Mark Twain
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  38. Norway seems to be the example of how the resources should be used to help the people. The sovereign wealth fund sure sounds better than spending your oil money attacking your neighbors.
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  39. Two crime bosses discussing someone else's territory.
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  40.  @jerrymillerstein  Is he a good man? I think people knew not for whom they voted. God forgive them.
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  41. Thanks Guy - Unless one lives in Russia one probably wouldn't think about the cost of real estate there. I certainly wouldn't.
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  42. Agree - I get the idea that I am seeing an event from a distance. I can't see every detail, but I see the event happening. The exact reasons why the event happens cannot be ascertained, but nonetheless it is happening. As he said a currency is a measure of trust in their government. Would you trust Putin and cronies? Would you buy a used Lada from this man? Now - We'll just have to wait for .0083 and perhaps .007 exchange rates to see if Russians get pushed to make changes in their government.
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  43. This talk made the most sense of any of these talks from the Florida swamp. Let me just babble on what was said. It's the old supply and demand thing. The ruble is a commodity with no demand outside of Russia. They buy war goods from China. It is understood that they pay in Chinese currency. They sell oil to China. The oil sales yield Chinese currency. It is expected that inflation will continue to hit Russia. Their rubles will buy less within the country. Will foreign currencies become the de facto currency of exchange within Russia? Will they be like Argentina? As was said, we'll just watch.
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  44. Great take on it!
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  45. Thanks man - Maybe Putin is arrogant enough to get Trump angry. Then the aid to Ukraine will keep flowing. Unfortunately, Putin is probably smart enough to have Trump praised by the Russian representatives. Trump will shut off aid and not understand why the fighting continues
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  46. This guy knows what he is talking about. He has studied money and money matters for many years. He has practical business experience. Is he right? Are they going down? He did not mention the Ukrainian attacks on their oil refineries and storage. Making fuel scarce will hurt both their military and their commerce. Decreasing sales of oil will mean less money for foreign goods. How long until the Russian people realize what Mr.Biernat realizes? How long until they grudgingly admit that it's time for them to make a change? One would thing they would have figured it out already with most of Europe helping Ukraine. I guess when the FSB / KGB no longer gets paid, the stuff will hit the fan.
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  47. Good commentary - If Putin is contaminated due to chronic shortages or excesses, it may mean there are many Russians with the same issues. Folks spend excessive times worrying about radiation when there are far more common things out there that do some nasty things to you. You've provided added incentive for me to eat right and wear a bicycle helmet.
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  48. Yes you do. The power of the US is diminishing in this world, but our leaders here in the US haven't figured that out yet.
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  49. Good Story - What will it be when it collapses? Will it degenerate into warlords or just go back to the Soviet thing? They had that for 70 years. That's a long time to wait for a collapse.
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  50. Thanks - Summary of video Poland - Good Russia - Bad I may add something. Polish people have a work ethic. Not sure about Russia.
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  51. I wasn't expecting this nutrition talk. Sad to say I use Canola oil. Olive oil is pricey. This was a good reminder to "Eat food, not too much and mostly plants." After this talk I'll have my green leafy vegetables tonight with their antioxidants. Good Reminder to eat right. Jeez - Vodka and bad food. Russia sounds like quite a place.
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  52. I made a comment here. It wasn't pro Trump. It wasn't anti Trump either. It mentioned his bankruptcies. Yet it's not here.
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  53. Good humor for a topic many of us tune out. Now what did he ask? He wanted stuff looked up. Non-neutrality of money is the idea that changes in the money supply have a significant and lasting impact on the economy. This is the opposite of the neutrality of money theory, which states that money only affects the price level and not real variables. Nominal money is the value of money in terms of its current price, while real money is the value of money adjusted for inflation. Sticky wages is an economic theory that describes how wages are slow to change in response to economic conditions. This can lead to unemployment and slow economic recovery. A boyar or bolyar was a member of the highest rank of the feudal nobility in many Eastern European states, including Bulgaria, Kievan Rus' (and later Russia), . Now - You don't have to look it up.
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  54.  @Conserpov Yet - 20 percent of Russian people do not have indoor plumbing. Perhaps they make some of this stuff you noted for a minority at the top of their society. It is apparent that few manufactured goods are exported. Nikita Khrushchev visited the US in 1959. At the time the sharp contrast between consumer goods available in US (& Canada) vs Russia was highlighted. It was expected that in the time since the Russian culture would evolve to better serve the wants and needs of the people. Instead the money has been spent on attacking Ukraine. Go figure.
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  55. Another good video - He makes one think. I'm not too hard on the populace of Russia. Their (Russian) society is all set up to keep them in their place. You see the fear on the faces of normal citizenry when they are interviewed. It's very hard for them to initiate a change in their government. They could be "disappeared." Then I think of most of us. In a generation or two, the finger will be pointed our way. "You knew the ice was melting. You saw the forests burning. You had options. Why didn't you do something?" If we did more to fix this global warming thing, we won't be "disappeared." It's a real "Whataboutism" argument.
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  56. This was a good explanation. Other factors hampering the economy are that some of the most productive members of their society have left the country. They no longer contribute productive activity to Russia. It was noted that the transportation sector is a large part of the Russian economy. It seems like this may be hampered by the Ukrainian attacks on oil refineries. While the discussion largely was about the production of goods in the Russian economy, couldn't the same negative effects be taking place for the Russian service sector? I was curious about Putin today. It just seems like he is running the country kind of dumb from a fiscal point of view. Even a dunce like myself can see that. So, I got to wondering how well Putin was educated in fiduciary matters. Wikipedia said he had a degree in economics. Go figure.
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  57. Hopefully, the smart people of Australia realize that this is a common resource that should benefit all. Norway does this with its sovereign wealth fund. Oil proceeds are invested in the future of the people. In US we often do not own the "mineral rights" on our land.
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  58.  @bevgroves8062  If the Saudis raise oil production,.......US may need to cut back. Tar sand production may need to cut back. But, the price will drop and Russian producers will cry out in economic pain.
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  59. I think you are right. You see things as they are and not as how you wish it should be. I've heard people talk about these recent tariffs and say Trump had some sort of master plan to eek concessions from Canada and Mexico. I think it's just a good thing that our neighbor countries have leaders smart enough to understand that Trump is as you describe.
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  60. Good Background - It's the Peter Zeihan thing and it works well. Perhaps this background wall is historic. Maybe, it was built centuries ago by the rich arrogant Polish Prince Trumpowski. Good Content too - The idea of the infrastructure of Russia falling apart reported by many others corroborates what was said in this video. Mysterious fires and planes falling out of the sky gives further credibility. However, there is a bit of a mystery here. It seems the loss that Russia is experiencing outstrips whatever gain they may receive in Ukraine. Surely, Putin realizes this. Why aren't the Russians negotiating to save some face and have a chance to truly restore their empire?
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  61. Thanks - Maybe we can learn something from Ukrainians. It sounds like they have the best of old time values.
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  62. Excellent transition in that video. I hope you're right about good triumphing over evil. Even if Putin comes out with a fantastic deal on these potential negotiations, there's still a good chance things will end up bad for him. He had people fooled a long time. The title of that old Who song fits, "Won't be fooled again." All the democratic countries on Russia's borders know what they are. The world knows too.
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  63. Comparative Advantage - I really wonder about that. Is unrestricted foreign trade really better? I've seen a lot of factories close in the rust belt. People do not seem to have the opportunities they used to have. I guess rich people make more money with the factories paying poor wages in other countries. Industry leaving has a ripple effect too. There is no longer the money from domestic production to support industrial research and development of new products. There is less tax dollars for schools and infrastructure. The rich get richer and the poor get poorer. I think the "comparative advantage" thing we are taught in economic classes is an oversimplification. That being said - my gut feeling is that Project 2025 put out by today's Right Wing would not bring prosperity and opportunity to those of us at the bottom of the economic stratum. Thanks for the talk.
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  64. Good words from the swamp. We don't want to drain his swamp. When economists bat around words like "natural" rates of interest. My ears perk up. All this economics stuff is the workings of man. It's not the workings of nature. I'm not saying he is wrong. Russia is spending all their money on their war. Russia has a really hard time selling their stuff to the world. Their ruble which is basically an IOU for stuff you can trade for in the future. Their ruble simply isn't wanted. My primitive common sense tells me their money is no good in a lot of places. There's another reason Russia may have big time future troubles. They are an arctic nation. Global warming is visiting the arctic first. Russia thinks global warming may help them as they see the great stuff warmer countries have. However, as their vast boreal Taiga forest burns and the permafrost thaws, they may find big time troubles. They have big time trouble coming and they waste their resources fighting imaginary Nazis in Ukraine. Thanks for the video.
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  65. As usual, I think this guys is mostly right. My dad was no economist, but he and I used to argue about it. I was young and argued that the world was black and white, good and evil. etc. My father told me the world had a lot of grey in it. The phrase, "There are no absolutes," comes to mind. Economics teaches us about Land, Labor and Capital. I think these Academics in their ivory towers often ignore the most important variable, people. People make or break an economy. "Anything that government can do, private enterprise can do for half the cost." - Milton Friedman He was one of those ivory tower guys. (There are no absolutes.) I see the public roads, public school, parks, municipal utilities and yes the post office as government successes. I don't think private enterprise can do these things as well. The right combination of government and private enterprise gives success. Milton Friedman once had a television show. It was called, "Free To Choose." It was back in 1980. The TV show often showed the success of Hong Kong. Hong Kong is Chinese. They were very successful. All of China was very successful from 1980 until recently. It was their government policies that allowed their success. The Chinese have a long history of free enterprise. They were allowed to use that experience to be successful. I'm just saying not to count China out. When the Chinese see something isn't working, they are smart enough to change it. The Chinese CCP wants to succeed. They can change. The combination of government policies and hard working Chinese can make great things happen.
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  66. I'm not a numbers person. Maybe, he would consider me an anomaly. I can do numbers, but they make me zone out. I look at the photography. Statues of working people behind him. Did you notice there were no pickup trucks? I guess it's a good thing there are numbers people. Numbers make one see patterns. These patterns help you understand the physical world. In this case he sees the numbers that show the collapse of the Russian Empire. That kind of thing is important. Sometimes, I wish I was a numbers guy too. Good thing there are people like him.
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  67. Economics - "the future's uncertain, AND the end is always near" - The Doors
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  68. Some had no food. My mother lived on a farm next to a railroad track. Hobos would come to their door just asking for food. My mom said these men didn't cause trouble or steal anything. They were just hungry men out of work.
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  69. There was an economist from Poland, He appeared like a guy from a Rock Band He quoted Academics great work He besmirched Russia with a smirk He spoke of Putin's great evil and how Russia was due for upheaval He spoke of the diminishing ruble And soon Russia won't pay it's due bill With a smile and some great glee We were told that one day we'd see There will be a great Ukrainian victory and Putin's meat waves will be washed out to sea I saw this man was no dope and accepted his message of hope.
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  70. It's in Idaho.
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  71.  @johnm7267  The Molotov–Ribbentrop Pact thing kind of leaves one to believe that they brought some of these problems to themselves. When your leaders lack honor, don't expect good things.
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  72. Within your discussion you were so close to the truth and finally gave it.. You discussed Trump people going to Putin's side and various imaginary reasons why. There is evil in this world and for centuries people have talked about souls being tainted by evil. In our secular time the idea of being tainted by evil is brushed away. Sometimes things are right in front of our eyes.
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  73. It ain't Lincoln's party no more.
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  74. Maybe the change thing is not linear. A revolution can promote quick change.
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  75. Who should replace Biden? Some say Kamala Harris would not have a chance. I would like to see her debate Trump. She would rip him to shreds.
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  76. This was a good video to start off the new year. How can societies change? Maybe, they are like individuals with problems. They have to recognize the need for change. A generation ago the economist Milton Friedman believed capitalism would lead to democratic change in China and Russia. Time has proved him wrong. I guess it's not a money thing. Do North Koreans recognize the need for change? Do stagnant societies fail after a time due to being simply unnatural? It seems like most stagnant societies fall behind and are forced into change but it can take generations.
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  77. I live in US. You just gotta admire Australians.
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  78. Yes - A few years back the US was starting to talk about Socialized health care like they have in much of the rest of the world. It costs a whole lot less and seems to often yield better results. US healthcare makes money when you are sick. There is no real incentive for you to be well. All that unhealthy processed food to make one fat and sick. Don't walk or ride a bicycle - use a car. The economy will be healthy but life will be sucked away from you. Selling stuff ain't about what's good for you. It's about them.
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  79. The Art of the Deal - Russia loses hundreds of thousands of people they didn't even care about. Russia gets to keep the land they stole. Russia is not punished for killing many thousands of innocent people and ruining their lives. Russia gets their enormous deposits in Western banks back. Russia gets to sell oil and gas again. Russia gets to re-militarize and conquer more lands in the future. Through Transnistria, Russia gets Moldova. Through Abkhazia and South Ossetia with the Dream party Russia gets Georgia. Belarus becomes fully a part of Russia. The money allows the Russians to continue their African adventures destabilizing governments. Russia gets rich while it burns the world. Donald Trump and Fox News tell the US public that they have helped do a great deal for peace. Many in US believe it. "Peace In Our Time." Russia gets the carrot. The world gets the stick. Good Video.
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  80. Beware the wounded animal.
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  81. Perhaps soon after the SMO is over, they may be able to buy gas from Ukraine. It won't be immediate as the fields need developing. Romainia may also become a gas exporter in 2027. Egypt has recently discovered and is developing several new gas fields.
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  82. You know - Reagan was a strong leader years ago. He did the Reaganomics thing People in US do seem to be getting poorer in the US in many ways. Some say it originated with his policies. Maybe that sound bite is right.
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  83. I like the number of times it was said, "I'm not suggesting this." Then many examples were cited where the practice worked. What if this idea was combined with a drone? If it began to rain hundred dollar bills, I guess I would collect them. I wouldn't greatly question their source.
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  84. Thanks - This one went way beyond my knowledge base. I guess much of that real estate that was discussed are apartments in old Commie Blocks.. It sounds like the system is surely "rigged" in Russia.
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  85. Well - It worked for you. It seems like a lot of people get help with 12 step programs. They get people to admit there is a power greater than themselves.
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  86. I guess the Deutsche Bank example said it doesn't work for corporations too.
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  87. This was presented well. I liked the story about the Russian Embassy. However, I think that Russia can be self sustaining. Why do I think this? It's simply because it was presented that Russia has had a secret police going way back in time to Ivan the Terrible. They have almost always have had their secret police. The comparison was given to the pepper plant in the pot versus the open field. The pepper plant can live in the pot for a long time. It will not be as productive, but it survives. Is this not the history of Russia? Is the pepper pant not sustained but at a lower production level? The video made me wonder. If everybody is being watched, there has to be people watching. I wonder how many Russians are being utilized to do the watching. It seems like this alone would be a terrific drain on the efficiency of the economy. Thanks for your video.
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  88. Yeh - Most of us don't know our Vulcan and Klingon history
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  89.  @JS_Precision  Lots of derailments for some reason and many are a very far distance from Ukraine. Russia is not known for its manufacturing prowess unless its vodka.
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  90.  @EconLessons  They've been in a bad way for centuries. I wouldn't expect sudden change. Right - no
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  91.  @snivanov  I'm a bit older. When I was a kid folks were allowed to say certain nationalities had what they called a better "work ethic" Whatever the root cause, different cultures do support the development of differing work habits.
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  92. Your numbers are probably good. However, I have a different viewpoint. Russia is a huge country. There are things they do not produce. However, they do produce the basic stuff that people need. They grow their own food. They produce their own fuel. Even today their infrastructure seems to be largely of that produced in Soviet times. They've been poor since the time f the Czars. I'm just saying that they can "get by" for a long time on what they currently have. People in the Middle Ages survived without importing and exporting a great deal to foreign countries. Much of the world was isolated for most of history. There are many remote villages in this world that are insular. I presume there are many in Russia. They lack indoor plumbing. Perhaps, this lack of imports may affect the centers of Empire, Moscow and St Petersburg, far more than the people in the hinterlands. When the de facto Czar asks for bodies to die in war, they will respond as they have for centuries.
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  93. So, I read through a lot of the comments. These comments are from all over the world. Most agree with Mark. To me this adds credibility to his remarks. It sounds like a conspiracy theory, but I've been hearing some form of this stuff for my entire life. There are just too many news reports providing verification. Even when they were communist, they used "sleeper agents." These agents in the West will remain loyal as the folks back home in Russia could suffer "accidents" were they to reveal their plans to Western governments.
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  94. "If they can be unified." - I don't live in Europe. I live in US. My grandmother used to talk about different groups of European immigrants not always getting along. Sometimes there were groups from the same country in Europe and they didn't totally get along. Not getting along brings chaos. Getting along brings organization and the achievement of goals. I sure hope the Europeans can get along and work together to oust the Russians from Ukraine. Here in the US we aren't all getting along so well. We have some leaders that seem to want to sow chaos. This will prevent progress. This may prevent aid from US to Ukraine. Another good video - Thanks
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  95. He's right about the peak oil thing. Check out the Hubbert peak theory. It's a finite resource. There are two factors that have messed up estimates when we run out of oil (1) The word "known" There are fields yet to be discovered (2) Available extractive methods are subject to improvement. Oil is a finite resource and becomes increasingly expensive to extract. I liked his summary.
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  96. Seems like there are a lot of Europeans running businesses in US. Could the opposite be true?
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  97. I see this over and over. Trump supporters will put in the equivalent of a sound bite. There is never facts or analysis justifying the reasons why Trump would make a good president. Could it be because he is carrying so much baggage and is a poor choice?
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  98. No taxes on barter.
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  99.  @postItNoteObsession  Thanks - Good answer. It is good that Trump cannot help out Putin. He seems to want to. It is a mystery why he wants to.
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  100. Some cities do not have roads to them. Check out how well their drainage systems are in many of their cities. One of the first things civilizations do is drainage. Did you know even the Romans installed aqueducts to get water where it was needed? (2,000 years ago) It takes little resources to install a well, a pump and septic tanks.
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  101. Thanks man - I would just like to see a debate between sharp tongued Kamala Harris and the Donald. She would rip him a new one. His insanity would be exposed for all.
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  102. Wow! This video was different. I get the Putin is very afraid of true belief. However, some of the other stuff that was talked about was outside my world. Catholic, Orthodox and Slavic people really do have a kind of world of their own. I guess many of us in the United States would say that Russian religion is not "true" religion.
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  103. Jobs are lost, lives are hurt .
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  104. The guy makes a lot of sense in a lot of directions. I'm not sure how many Russians will see his video. I'm not sure how many will buy into his idea of not consuming, but I bet the smart ones are already doing it. I would think the signs of upcoming bad times are there for the average Russian to see despite the rhetoric from Putin and his cronies. In fact, I would think it's like a big poster in bright colors. The smart Russians will know that frugality is its own reward. The days are cold. The snow is falling. The sky is grey. War has come to Russia. Russian media says most of Europe is at war with Russia. Time to horde potatoes.
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  105. So old World traveling Pete Zeihan is somewhat wrong with his demographic predictions. Mr. Biernat provided a number of examples countering the idea that the declining population of Russia may not be a determining factor in Russia's future. I had kind of wondered about that. It seemed like there would be more oil money for each person until the "Special Military Operation" took place. How about the opposite? At the present time I'm listening to the book, "The Wizard and the Prophet," where the author expounds on Malthusian ideas. It does seem very reasonable that high populations of humans can exceed available resources in a country. Thankfully, technology has so far kept predicted major catastrophes from happening. Russia may not be facing a catastrophe from decreasing population, but are other countries facing catastrophes from their increasing populations? Sometimes it seems the only thing these high population countries have to offer is low cost labor and no opportunities for their vast populations to better their lives. Comparative advantage only offers them one thing, their inexpensive labor.
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  106. I love the background. The pseudo building painted on the wall is great. The smart car adds something too. Here's a paraphrase of the talk. I get the idea that just like the building is fake that crypto currency is somewhat fake too. Currencies of countries are backed by the country. Past performance of the currency and the actions of the country lead to trust. The national currencies are based on trust. I don't understand crypto currency, but there seems to be nothing behind it. Surely, it's a medium of exchange. Baseball cards could be a medium of exchange. Unlike a currency baseball cards have no large institution like a government backing them and can be volatile. Crypto currency seems the same. Again and again we are told, "Follow the money" and we find shenanigans. As Mr. Biernat describes, Russian money may be followed through a path of crypto currency. They are a nation of gangsters and have long laundered money. I haven't seen this reported anyplace else.
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  107. Good talk - It made sense. Things cost what they cost due to supply and demand. As China manipulates the value of their money it becomes "Funny Money." It's not the first choice for people to use. The value of the medium of exchange (Currency) is set by the masses and not by communist bureaucrats.
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  108. Why did YouTube omit my response? Try again. The folks that brought the Rust Belt and the exodus of industry to foreign lands brought a lot of pain. There are still houses in Detroit scheduled to be demolished. Somebody must have made a lot of money from all that pain.
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  109. Good Video - I like your idea about Putin retiring to a place very warm.
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  110. Many people say Putin is one bad person. I think the guy making this video has his head in the right place.
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  111. Thanks - I saw that on this date Lincoln delivered the Gettysburg address. It may seem odd, but my mind jumped to the people in Ukraine. They are fighting for freedom and a democratic government. History does sort of rhyme.
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  112. Good Message -OK, so these three right wingers will say some of what we want to hear. However, unlike the other leaders you mentioned who have ideals and want to make the world a better place, these three are are out to only help selected groups and not most of us. I'm thinking of Trump here, but do morals more often accompany those with the ideals for a better world? Trump doesn't seem strong on the moral thing. "In America, anyone can become president. That’s the problem." - George Carlin
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  113. Nope - "Consumer goods are not made in despotic countries." Then he names China, the world's manufacturer. Sure there's stuff made here. You can't move the farmland overseas. What you can do is have automation and imported less expensive labor to work that farmland. Maybe not altogether good. Nearly all consumer items are made elsewhere. All TVs are made elsewhere. Refrigerators, stoves and washer dryers are very often made elsewhere. The United States recorded a trade deficit of 67.43 USD Billion in January of 2024. This indicates the wealth of the country is leaving. With modern digital electronics more and more jobs are outsourced. Visit some of the rust belt cities in the Midwest and talk about what they used to make here. Economists drink the Kool Aid of free trade but forget the enormous externalities when a factory is closed. Sure, there's still goods and services manufactured and performed here, but the quantity is diminishing. It will continue to diminish unless we modify the rules of trade to favor the people in the country. It seems more often than not they now favor only the rich capitalists of this second gilded age.
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  114. Thanks - This one made a lot of sense. The video had a flow from beginning to the end. There was sort of an ultimate truth about it. We've been had. The folks who really run Russia have been showing a face to the West they know we wanted to see. There have been signs that they are not who they pretend to be. The West did not want to believe those signs. They showed a reality other than the shown face.
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  115. Let me paraphrase: So if Harris wins she will support Ukraine and they may drive the invaders out. If Trump wins the economy of the entire world will be so bad that Russia will fall apart. You might be right. Despite Trump having been sent to an Ivy League business school, his history shows him not to be a very good businessman. How will Putin react? Despite having a degree in economics, Putin has driven the economy of his country to a bad place. Leaders like this running the world don't do much for the rest of us.
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  116. Once again a lot to unpack there. It was sort of an attack on MAGA. I've heard the idea expressed quite a number of times in a number of ways. I've heard MAGA described as a cult. It's puzzled me how the formerly warlike Republican party would not wish to support Ukraine. It's puzzled me that the party of Ronald Reagan who called The USSR an evil empire has prominent persons who do not want to support Ukraine. It's puzzled me that prominent Republicans do indeed echo the comments given by the Russians. I read many of the comments looking for a rebuttal from a MAGA person. None was to be found. You know - Maybe they are on some sort of psychoactive drug. Truth is stranger than fiction.
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  117. Good video. We are told that centralization is bad for countries. Is it bad for these big corporations too? It seems like wall Street likes it when a "Strong Man" takes over a big company. He is the guy in charge and dictates how the company will be run. At any rate, the centralized economy, 5 year plans and rationing didn't work so good for the 70 years when Russia did it before. So now they do it again. What's that definition of insanity again?
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  118. Thanks - I only half listen to rhetoric from politicians, but a couple of things you said really disturbed me. Are Russians really going to sell the idea of "Sanctions Relief" and make it believable? I guess stranger things have happened. I found the results of the recent US presidential election as one such example. It was also mentioned that a Lend Lease program could be used to help Russia. That idea is just so wrong. Yet if they repeat some of this stuff often enough on controlled media , "Perception becomes reality."
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  119. yacht? I woulds just said boat.
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  120. 1 Ruble is equivalent to .011 US dollar. It used to be better before this war. Russia has had to use gold for trading or the local currencies such as the Indian Rupee or Chinese Yuan. Nobody wants Rubles. You can withstand sanctions, but that doesn't mean you are thriving. Russia is in a war economy. It is said this cannot be sustained more than a couple years until their big stash runs out.
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  121. Whoa! There was a lot of stuff to unpack from that box of talk. Some of it went over my head. I do sort of agree that the "Czar of Russia" does not want Russia to perish. Tucker Carlson interviewed him and he babbled on with this alternate history. I sort of think he wants to preserve a Russia that never was. At any rate the advice to stay away from the "dark side" fits these bleak November days. Good Advice.
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  122. Good Talk -The pigs. The wild pigs take care of themselves. Maybe the leaders in Russia don't want any of these wild pigs taking care of themselves. They want to be the only wild pigs like the pigs in "Animal Farm." The pigs in "Animal Farm" ran things. I saw a video about the big floods in Russia. It showed some people hired a contractor to make dikes to protect their homes. The video said that these people would be put in prison for fixing their flooding issue. Those people who put up the dike were being innovative. They weren't begging Putin for help. They were like the wild pigs making their own survival. The leaders need compliant folks. So these people who battled the floods will be put away.
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  123. It's Smoot Hawley - But I think you are right. It is said these tariffs contributed to the Great Depression. I've wondered about this whole thing. A convict is in power because folks wouldn't vote for a black Asian Indian woman. I hope somebody figures all this out because stuff is flying into the fan.
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  124. One would like to agree with you, but I live in one of those states that he mentioned. I see many more signs in people's yards showing they support Trump rather than Harris. There is prejudice against a black asian woman running for the high office. In these times that prejudice is not expressed openly, but is there. There's an enormous number of people that maintain an ignorance of basic facts and vote on "gut feel." When Trump has his rallies, he does generate a feel that people are on some sort of mission against the people who have frustrated their lives. Trump doesn't speak from facts, but his supporters don't seem to care. Voting for Trump is an odd form of striking back against the establishment. Yet, Trump is a product of that rich establishment they reject. Experts didn't think Trump would win a few years back and yet he did. All surprises are not always good.
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  125.  @genrcflyer  Yes -the US debt - Then there was the Laffer curve and what his vice president called "Voodoo Economics." Some clarification regarding President Reagan is often necessary.
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  126.  @SomeCantHandleTruth  Sadly, ideas like were discussed in the video have a reality behind them and although the ideas may be amplified at times are still based on that reality. People cited examples of that reality in the comments. News stories about that reality are not as frequent as other negative things in this this world, but still those stories pop up. The reality should be acknowledged.
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  127. Good rant! That rant reminded people not to be blinded by the BS smoke that seems to be issued from news media and some world leaders. This rant was a reminder of principles that should be at the core of any "deal" that is made with Putin. It was a reminder that freedom is at stake here. It was a reminder that there is a "right" thing to do. It was a reminder that Putin shouldn't be allowed to steal land. I worry a bit about the next US president because he does not seem to be a man steeped in the ideals for which the US has been run for 200 or so years. He may take the easy road and not the right road. Perhaps great things can only be achieved when you have great ideals. What did JFK say? "We choose to go to the Moon in this decade and do the other things, not because they are easy, but because they are hard; because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one we intend to win, and the others, too."
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  128. Good talk - However, many of us I am sure are not familiar with all the Economists that you quoted. What further signs will we see to indicate this collapse? Will we see, for example, hyperinflation as the Weimar Republic saw? Will there be shortages as there were in the Soviet Union?
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  129.  @jerrymillerstein  It's not hard to find facts against Trump. There are multiple examples showing he has a poor character. He is a convicted criminal. He has been shown to have lied many thousands of times. His history shows he is a bad businessmen having been through numerous bankruptcies and selling products that are flawed. He instigated the attack on the Capital. He was impeached by the House twice. I could find many more reasons not to vote for Trump, but I suggest you do a small amount of research. It goes beyond character. Actual competence in the office of presidency should also be considered by yourself.
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  130. Well - How honest has Russia been about honoring it's agreements? Seems like there is a lot of industry they seized or rendered deals null and void. Rendering deals with Russia about their gas null and void seems more than fair given their behavior. In fact, it seems like a wise practice.
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  131.  @gudini2559  YouTube does that. YouTube censors a lot of stuff. You may not see this.
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  132. You are a pure capitalist and not corrupted with human values. You will succeed in this life.
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  133. I guess the rich guys are scared of there starting a precedent. OK - They can take the ill gotten gains from the Russian robber barons. The other robber barons are afraid of this. I'm quite sure they figure they would be next. And,.......I figure there are a lot of these rich robber baron guys out in the world.
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  134. How long would it take to develop those resources? I wonder if there are alternative ore bodies elsewhere in the world that may be in more peaceful places. I don't think mining companies want to incur any more risk than necessary. Infrastructure is also needed to develop ore bodies. A great deal of energy is needed and shipping may not be a simple task. Some of Ukraine's infrastructure has been ruined by the Russians. I just wonder if this deal is little more than a paper deal that would never come to fruition.
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  135. Good Talk - They say they had 300 billion dollars in savings at the beginning of this war. Some say they spend 300 million dollars a day on the war. That gives them about 1,000 days of war. It's day 784 of the war. Maybe, money will be running short for the Russians in about 8 months.
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  136. Good Video - Isn't it rather curious that the largest country in the world which proclaimed itself Communist when I was a kid essentially was using Capitalism as their weapon? By thinking they had a monopoly on gas supplies, they thought they could control people. They were a bit akin to the US robber barons of the 19th century. Capitalists sometimes misjudge people's yearning for freedom. It ain't all about money, you know.
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  137.  @SuezWSuezW  Now that would make sense. He would have finished his education just about the time the Soviet Union was falling apart. He received his degree in 1997 and I envision that the curricula could have lagged the times so his training could have been as a Soviet economist. His reported behavior certainly mimics those old Commie bosses.
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  138. Well - There's a lot of things that just don't seem to work like theory. Some people tell me communism is good. Read this they will say. Maybe, it sure does look good on paper. Reality - not so good. Adam Smith sounds good too. A few years back I had a discussion on this topic with a wise Indian immigrant. He made the point that the North American market is big. Everything is right here that we need. We are big enough to be an independent market from the world. He also pointed out that trade here tries to play with a level playing ground. Chinese people are smart. They tilt that playing ground to help China. Trade with them is not always "free trade.". They dominate Rare Earths for example. When foreign nations attempt to develop these, they crash the market making new investments elsewhere unsustainable. Nor do they have to play under the same environmental rules. Mr. Biernat gives the example of a copper mine in Connecticut. Value added products from that copper ore could not be developed in North America due to the system being rigged for England. This benefited England. England rigged the rules of world trade a long time. It worked for England. It worked a long time. I'm not one of those who are enthusiastic about Trump. However, he does have a lot of smart businessmen around him and maybe some of his ideas will work. I've seen what free trade has done for what is now called the "Rust Belt" and it isn't all pretty. Thanks for the video.
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  139. Good Talk: China plays the long game. Confucius once said, "It doesn't matter how slowly you go as long as you do not stop." What if Putin had gone slowly? How much of Ukraine could he have simply bought for what he has invested militarily? Honestly investing in Ukraine would have won friends and control of the country. Genghis Khan conquered China. His grandson Kublai Khan was essentially Chinese. China has absorbed enemies. They play the long game.
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  140.  @wildbillbegleyjr.3523 It's OK - It appears whatever I had written vanished. Maybe the original post was deleted. Have a good one.
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  141.  @EconLessons  Do it before Professor Wolff converts me.
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  142. There's that Malthusian idea that people can outstrip the available resources. Too bad. Most people I've met from the Philippines have been great people.
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  143.  @РафаэльСаркисянц-ъ2т  Have you ever considered that the average Russian might end up better off if this happened? It's not like people want to turn Russians into slaves. I would say they want to prosper alongside Russians. Do you want the Chinese to invest in Russia or the Europeans?
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  144. Could it be that most don't even realize that it's there?
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  145. So Russia is going away. Well - Not many remember Livonia these days. Countries come and countries go. China will probably take a piece of it.
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  146. You'll just have to watch Star Trek.
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  147. Good Video - What distinguishes man from the snakes and lizards? People have told me that people have souls. They are capable of empathy and compassion. These things are reinforced in a society by a good religion. Russia's KGB took over the religion in Soviet times and never gave it up. It sounds like empathy and compassion were removed from the Russian Society. I guess they are left being like those water moccasins. Mr. Biernat says you can't really negotiate with snakes in your yard. It sort of makes good sense.
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  148. Gee Whiz - Sounds like that was a while ago. Back in those days one could work, save money and pay for an education. Can you still do that?
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  149. The oil sold to India and China is crude oil. India and China were not buying refined oil products from Russia. They refined their own products and kept the jobs in their respective countries. The attacks on the refineries will primarily affect Russia. It is hoped the attacks will continue. Given a more recent video from "Econ Lessons," I begin to wonder if part of the reason that India and China did not purchase refined products from Russia is that there could have been quality issues.
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  150. There may be many reasons Trump won. The fact that his opponent was a black woman probably didn't help the Democrats. This was not the entire reason. The reasons stated by Mr. Biernat are also valid. The vast media support received by Donald Trump was also a factor. he was a known "brand." He had been selling himself for the 4 years he had been president and for the years in which Biden was president. The switch from Biden to Harris was not a normal transition. This did not help the Democrats. I look forward to future videos on Econ Lessons that will discuss Trump's economic policies. Will isolationism restore manufacturing or simply make people poorer?
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  151. Much of Russia's food is produced internally. Russia produces it's own fuel. Are the Russian people somewhat insulated from their declining currency?
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  152. So - What would that do to the economy of China? Those 1.3 billion people in China have to eat too. Every action has an equal and opposite reaction. Maybe, if the Russian oil stopped, the big boss in China would tell Putin, "Enough is enough! Stop your stupid war and behave.." As was stated in the video, his money would be cut off so he would have to comply.
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  153. Internet says they left Russia - I guess there is some good in the remaining Koch family.
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  154. Good Rant - He's right and he's wrong. I've seen these videos of these Russians appealing to Vladimir Vladimirovich Putin. They give me the appearance of begging to a king. They practically bow. From my far off perspective it sure does match his description of them considering themselves as "little people." The idea of them pulling themselves up by their bootstraps, working together and solving problems doesn't look like it's there. His assertion of the attitude being different in Russia seems spot on. On the other hand people need some guidance from above to properly harness that power of the individual. He noted lead pipes and asbestos. Those won't stop being manufactured and sold without regulations. This guy makes you think a bit and that's good.
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  155. He will respond to vast numbers of people providing a contrary opinion to his policies.
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  156. Good Job - There are many people today that will not do their own plumbing. Then, to relate that plumbing to the economy of Russia requires some imagination. Further empirical evidence that all is not well within the Russian Empire is that Russian soldiers were stealing toilets, washing machines and other plumbing appliances from Ukraine. Much of Russia may live much as they did in the Czar's time.
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  157. Well - The other big conflicts the US is involved with is the Middle East and Taiwan. Has anybody made mineral deals with them? The Ukraine thing seems treated differently.
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  158. Good Message - IMO - Washington seems to be behaving as an independent entity. A united plan including the states of Europe will accomplish Russia's surrender. If the forces of North America and Europe are united, Russia will buckle. As part of that surrender Russia should withdraw from Transnistria and Georgia as well as Ukraine. The surrender of Kaliningrad to Europe may also be discussed. The idea of Russia having a large military base in the middle of NATO and the EU is ludicrous. Good art in the background.
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  159. Will potatoes get Russia through the Winter? It seems like if Ukraine continues to destroy fuel depots and oil refining capacity that it will help the average Russian consider whether this war is a good thing for him or herself. Sitting in a cold dark dwelling with little but potatoes to eat and Putin to think about may lead to the appropriate conclusions.
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  160. Good Video - Check it out. Argentina is run by an economist. There are news reports that they pulled out of BRICS. Argentina has a lot of resources. If they get inflation under control, they may be an ascending country. A lot of investment has been flooding into India. India appears to be a rising world power. These countries may not be considered losers. Will Russia be the controlling power in BRICS? China is now the dog and Russia the tail. Brazil has a larger GDP than Russia. India has a larger economy than Russia. I do not think these countries will let Russia dictate BRICS policies.
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  161. Your videos make people think. I do believe the factory of the past will remain in the past. PLCs and robotics will continue to automate much production. The backbreaking work of my grandfather will be limited. Those that manufacture and build will learn better ways to manufacture and build. With manufacturing before our eyes we will look to make it better. This is where technological progress comes from. It comes from this incremental improvement. One learns by doing. Do we want these technological innovations to come from the USA or elsewhere? Do we want to be dependent on products produced abroad? Do we want to produce the value added products here or ship raw materials abroad? Do we want that freedom to choose? Mr. Biernat spoke of people choosing to be artists. How can people choose when they work two or three low paying jobs to just survive? There are towns in the Midwest that are essentially ghost towns after manufacturing left. There are few choices for the people in those towns. There is little money to be spent on the art of John Adams descendents. Manufacturing, building and mining can provide good paying jobs for people to support families. The wealth of the nation is built from this labor. Trump may not be right in his policies but the idea of returning manufacturing to the USA will provide opportunities for engineers and artists. Unemployed and underemployed people are a waste of the biggest resource in the nation, the people. Domestic manufacturing will return wealth to the United States. This wealth can give additional choices to the people. Comparative advantage does not work when you have the choice of near slavery abroad doing the work versus having to hire free men to do the work.
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  162. This was a good one. I have pondered a bit why a country like Russia with enormous resources wants Ukraine so bad. It's kind of obvious that Russia is paranoid about being attacked. It wants security. Basic security is having food to eat. If Russia owned Ukraine, there would be plenty of food. This video also makes me wonder if the attacks on Russian oil refineries will have any effect on food production in Russia. No one has reported on this aspect of the refined fuel attacks. Recently there was a huge fire in what was called an Agricultural Engineering Building. Attacks on food supply and production go back to the beginnings of history.
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  163. Mr Money Mustache - It sure worked for him.
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  164. Good comment - I can't see UPS delivering letters as cheaply. They serve the public rather than stockholders. If government stuff is managed well, it can perform well.
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  165. Good Video - India does what India thinks is good for India. I think it's still getting over being a British colony.
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  166. Good background for the message. I guess the world has got to develop good anti drone technology. Russians sure do waste a lot of their income on evil things.
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  167. Da - Very much Da The comrades will be happy with you.
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  168.  @mirokuaec  Right out of the MAGA playbook. It's odd how these things are repeated without variation.
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  169. Boeing is due for increased competition from China. Will the industries of the future be developed in North America?
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  170.  @laurensa.1803  Less freedom to choose.
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  171. Yes - How good a deal will Russia have to cut to sell their stuff?
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  172. Mr Biernat is obviously very well read in economics. He quotes a lot of stuff I'm barely aware of. Since I don't fully understand these economic models, I have to think outside the box. Mr. Biernat often refers to Putin as the Czar of Russia. This implies that Russia has some feudalistic characteristics. I think it does. The idea that all these models of Capitalist systems may not exactly fit Russia comes to mind. Will the degeneration of Russia merely push them back to a more pure feudal system of some sort? The Oligarch system does seem to resemble the Lords of old where the people belonged to their land. With time, some will go hungry but most will just continue to serve. The Feudal system lasted a long time. This isn't to say Mr. Biernat is wrong. Their Capitalist system will collapse. Russians will serve those in charge as a form of feudalism. Another good video. I've heard Trump described as a "chaos agent" by his supporters. You noted that this "chaos" is not good for investments." That made sense.
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  173. Folks that study climate say it will be flooded in years to come.
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  174. Good Message - I don't live in Europe. Common sense tells me they can do more working together than separately. They have a common interest in stopping Russia from invasion. I watch videos that show translated clips from Russian TV. They constantly talk about invasion. They really seem committed to taking Berlin. Actions speak louder than words. Russia has invaded Georgia. Russia has troops in Moldova. Russia is trying to conquer Ukraine. Russia hunts Ukrainian civilians with drones. The fact that Russia is a problem is rather obvious.
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  175. Thanks Guy - It sure does seem like the people there are held down. There are so many videos of people begging Vladimir Putin for help. I've really wondered sometimes why (1) They can't help themselves (2) Where are the intermediate government officials. Your videos help all of us to understand this bizarre Russian world.
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  176. Interesting talk - What caused the Great Depression? I learned over speculation and over production. It was a failure of capitalism. Why can working people not afford one of their basic needs, housing, today? It is a failure of capitalism. It was said there were tent cities in the Great Depression. They called them Hoover towns. Today, many large cities and some not so large have tent communities, but the name of Herbert Hoover has been forgotten. Technology in the Great Depression introduced continual improvements to people's lives. This is a success of Capitalism. Today's technology is not so admired because it can remove one's livelihood. Due to its implementation, this is a failure of capitalism. What policies were introduced in the Great Depression to help people? There were policies of Socialism that are still with us today. Have a good one.
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  177.  @EconLessons  Good description but to someone like me who is not an economist this appears to describe symptoms rather than the underlying cause. You've piqued my curiosity a bit. I may investigate. I suspect markets inevitably need regulations as part of the symptom alleviation to the Great Depression was regulations. Once I heard they were necessary to prevent cyclical upsets.
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  178.  @q1q2q23  The internet will tell you what's bad about seed oils. The only oil the experts seem to like is olive oil. However, when I was a kid they said lard was bad. Now they say lard is good. So the experts change their minds.
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  179. Putin seems to have something on Trump. I think the Russians bailed him out years ago. Trump's business ventures have not always gone well. He has had bankruptcies and been on the verge of bankruptcy many times. He is not the finance wizard some are fooled into believing. He is not the leader that some wish to believe that he is.
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  180. Good video: So you can talk about people behind their back or you can just ask them. What do the people in charge of Russia's economy say? “The Russian economy has reached a ceiling. We can no longer grow extensively. Russia is passing the point of no return." Elvira Nabiullina, head of the Russian central bank It doesn't take much to reinterpret that statement a bit. One can sort of read between the lines. Then when you hear about their soldiers stealing toilets,......well,......things can't be all that good in Russia. It seems like Russia sells oil and gas and makes trouble in the world. I guess its what they call the Russki Mir.
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  181.  @spxram4793  I think people vote for these kinds of rulers because (1) They like the "strong man" for some reason (2) They are lied to (3) Many people are not sophisticated and like the simple version of reality presented to them.
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  182.  @amraceway Apples and Oranges - The fact that Putin has stolen foreign companies is not sanctions. It is the reaction of a gangster dictator.
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  183.  @EconLessons Why is the choice limited to going backwards? Can't we go forward with a modified set of economic rules that favor the multitudes? The fact that people who work full time cannot afford housing is disturbing. Some say the system is rigged. Let's re-rig it to maximize the common good.
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  184.  @28pbtkh23 Yes - Steel buildings are cheap to construct. No reason some sort of public housing can't be constructed. This housing could be rugged and basic.
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  185. I've not read all of these quoted economists. I will not read all these quoted economists. I've read a couple books on Libertarianism and Atlas Shrugged. That was enough for me. Ron Paul is a libertarian. From my life's experience, I see these libertarians don't live in the real world. Their philosophy can largely be summed up as "selfish." It was good to see a real economist take issue with Mr. Paul.
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  186. He's right. Now here's a tangent he didn't mention. What kind of economic system produces innovation? It seems like the economic system that wants to make a buck for people rather than the dictator thing produced innovations. You don't see it out of Russia. You don't see it from Venezuela. You don't see it from North Korea. You see innovation from those countries that allow a free market economy. This innovation if properly channeled makes people's lives better.
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  187.  @CPearl48  Right - China has a lot of innovation. It's a strange one as it has a dictator government placed over a lot of free market capitalism. Deng Xiaoping referred to it as capitalism with Chinese characteristics. That's why I didn't list it.
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  188. This video was the result of much thought. Maybe, if enough people took contrary actions they could create another "butterfly effect" and thwart the plans of the powerful who mean to do harm to our society. We won't know unless we try. If the masses of people are against them, they will hesitate to destroy our democracy and our prosperity.
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  189. I liked this one - I'll repeat some of it. Using money for good. Using money to fight evil. Sounds like a good thing. Would it hurt the mass of the Russian people? That money was stolen from them. It's not like the Russian government is going to spend it doing good for the people. It gets tight into the old phrase, "Money is the root of all evil." It was oil money that enabled Putin's evil. Bankers don't like it. Many of us have learned to dislike bankers and their ilk. Spend the money and too bad for bankers. Wouldn't spending this money on Ukraine be stimulating the economy of the area of Ukraine and surroundings? Wouldn't it prime the economic pump? Spend it. MArk makes this sound simple and it is.
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  190. Seems like when historians look back at wars there have often been some rich dudes encouraging their governments to attack another country. These rich dudes make money at it. I haven't figured out who the rich people are pushing Putin, but maybe he is just crazy.
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  191. With deregulation, one does not know what they get.
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  192.  @speedrunner9907  Mark talks of a "Dark Side" when discussing Russia. It's like a cultural virus that took hold. I think the two guys you mentioned are carriers of that virus. We must be the immune system and fight off guys like them that want to spread that virus.
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  193. If everybody dumps what they have in the market, won't that crash the market just by itself? Won't that be sort of a self fulfilling prophecy?
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  194. Who is the imperialist? Is it not now common to refer to Putin as a Czar? Have they not adopted the trappings and behavior of old imperialist Russia? Russia may not collapse, but that does not mean it is good. How is it that a country gifted with such wealth, i.e. oil, gold, platinum, timber, arable land and access to foreign markets has 30 percent of their people without running water? Is this not what one would expect to see in a land of subjugated peoples? Would a free country send it's soldiers to die in endless meat wave attacks? By the way, you should listen to "Inside Russia" from Russian economist Konstantin.
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  195. The man in the video made a lot of sense. Why would Trump want to risk making Canadians angry? The excuse given was fentanyl importation. That is a ridiculous excuse for tariffs. I figure (1) he's looney tunes. (2) He's got a hidden agenda as Mr. Biernat says. I just hope the courts can shut down his BS.
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  196. This man's videos certainly do cover a lot of ideas. I'm not a religious guy, but his talk made an idea pop into my head. This lack of apparent morality in Russia makes me wonder if it can be traced back to the Reformation. This started continual questioning within the Christian religion that continues to this day. It spawned many Christian denominations and created change within the Catholic Church. It's a sort of feedback mechanism which maintains some morality. As this Reformation occurred in Western Europe, Russia continued as they always had. Russia runs on what some call open loop control and there is less questioning.
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  197.  @Алексей-ч2ф9л It's good that you have pride in your culture. Russia has produced great things like Sputnik. However, it is said time and again that corruption is rampant. It's reported that human life is not respected. Apparently, it's been that way a long time. You guys are smart enough to fix it.
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  198.  @hardtackbeans9790  Yes - Different models. I am sure the safety standards have improved, but just the same items built in that country are not known for their quality.
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  199.  @sarahpr8714 Yes!!! I forgot about that! Russia and Electro Harmonix keep our old guitar amps alive!
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  200.  @ChrisChocol From Wikipedia - "Rosatom was the world's largest portfolio of foreign NPP construction projects with a market share of 74%.[13] At the time of Russia's invasion of Ukraine, Rosatom had 73 projects in 29 countries.[19] " Unfortunately the only other country listed was Finland and I am quite sure the Finns cancelled that one.
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  201.  @chibunduandy2441 Not really - The lack of common things like plumbing shows a production problem. It shows a land that lacks opportunity. The idea of production is to make things good for the people. For two long Russia has been spending money on "guns" and not "buttet." Russians shouldn't be ashamed of their lack of things common in the West. Russians should just fix the problem.
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  202.  @chibunduandy2441 I tried putting a link in previously, but the entry vanished. Do a quick search' I just found this: "Per Russian State Statistics Service Rosstat, 22.6% of Russians do not have indoor plumbing. In rural Russia, almost 2/3rd's have no access to indoor toilets, 48.1% use outhouses and 18.4% do not have a sewage system.Jan 16, 2024 " Look into Moscow Times. My link perhaps made the previous entry disappear. The head line is "Indoor Plumbing Still a Pipe Dream for 20 percent of Russian Households, Reports say." It's certainly not unbelievable. My grandmother in Northern US had no indoor toilet until the 1980s. When my parents bought their home in 1953, it had no bathroom. It is very plausible that Russians lag other countries. Russian money has gone to oligarchs and the military so others do without.
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  203.  @SMGJohn  You say, "All nuclear reactors Russia build are just simple iterations of Soviet designs. Russia to this day has not built nor designed anything new." It does look that way.
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  204. Good Message for the end of the year. Many smart people are saying stay the course and the Russian empire will dissolve into something better. I found it interesting that he quoted Einstein. He often quotes these Austrian economists. Einstein advocated socialism. I'm not sure if there is a real schism there.
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  205. This one is worth listening to twice. There are lots of good ideas packed within this message. With Russia's poor infrastructure will the folks in the hinterlands be hurt the worst from the fall or will they be insulated from the effects?. I suspect those outside the big cities have gardens and an ample wood supply. Those in the big cities do not.
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  206. Yes - I'm a nobody and even I see it. Trump never says anything negative about Putin or Russia. The Ukraine war has made a lot of us aware of how Russia operates. Konstantin of Inside Russia gives factual reports on almost a daily basis as do others. They do a lot of bad stuff. One may think that the top US politicians are simply ignorant of what Russia does, but unlike you or I they have access to experts who can tell them what is what with the country of Russia. Circumstantial evidence seems to point that Russia has something on Trump making him do what they want. Mr. Biernat is right.
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  207. It sure seems like an opportunity for the rest of the world to step up.
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  208. Wow! I am amazed that this US election has so much impact in the world. I live in US. I put Australian news on the other day. All they did was talk about the US election. The results of this election surprised and disappointed me. The US is on a downward trajectory. You guys need to work with your neighbors for a common defense.
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  209. Interesting parallels but they could fall apart when you look at population. The population of the Union was 22.5 million in the Civil War versus 9 million in the Confederacy. The population of Russia is about 140 million. The population of Ukraine is 37 million. The enormous land of Russia gives it vast resources. So, one could say the comparison puts the Russian Federation in the Union's position. However, if the EU and North America are committed to the fight, the resources of the Russian Federation are dwarfed in everything bu available manpower. Hopefully, support will be given so Russian resources diminish to the point where they cannot continue this senseless war.
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  210. Lots of comments after the main comment. Times are indeed changing. I saw no comments denying climate change. Some say it is good. Some say it is bad. None deny reality. There are a lot of people with numbers proving it is reality. Unlike Russia, the numbers are not made up.
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  211.  @Heater-v1.0.0 The weather is constantly changing. It's not consistent. It never has been. Why should climate change proceed in a consistent manner? What does the long term trend tell you?
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  212.  @Heater-v1.0.0  Not so. There are ice cores, tree rings and other indications of what weather has been like in the last thousands of years. The last thousand years is easier as men have had civilizations for the last thousand years and have made records. The writings are examined to get a good idea of the weather. Climate can be extrapolated from that. Scientists are largely in accord that global warming is a real event. Discord in this belief may have been created by special interests. They have financed groups like the Heartland Institute to help sow this discord. It's worked quite well for them.
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  213.  @EconLessons Got it. Central planning, 5 year plans - Back in the USSR Except this time only gangster ideology no Marxist Socialism. Normally, I would think they could do the deficit spending for a while, but those high interest rates make government borrowing very painful. I bet their people won't buy war bonds. I guess they can just pretend and print money for a while, but that won't last as the money soon would be worthless. It's headed for the fan.
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  214.  @samyguindy3457  They are all based essentially on trust. We all agree that they have worth and it works (mostly).
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  215. Good Video - I do take some issue with this. People who own small businesses are working in their own interests and have to be working in the interests of their customers just to survive. Just the same, there are some things that big business can do better. The economy of scale is a real thing and some of those benefits do usually get passed to the end consumer. Some things are better handled by government like maybe water sewer, electricity and health care. Hopefully, this horrible war will be resolved soon and Ukraine can be free of its evil neighbor. Konstantin of Inside Russia explained the system that Russia has. All tax monies flow into Moscow and are then redistributed to the various government entities. When I heard that I thought - this is not conducive to a real democracy. If the money is centrally controlled from Moscow, it has a remarkable similarity to the planned economies of the old Soviet Union. This video stressed that small businesses will be needed in Ukraine. I think local government with autonomy will also be necessary.
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  216.  @adamk.7177  I wonder if he'll get those tariffs through. A lot of rich people have a lot of money invested in Chinese manufacturing.
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  217. There may be more truth to that than many know.
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  218.  @joeordinary2trumpheroofrussia  It's kind of hard for them to keep things secret when Russian media talks about empire expansion each night. Russians are strange people, I guess.
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  219. I guess we are OK in the US. There's more than just one of those billionaires running the system now working for their benefit.
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  220. "The Dark Side" certainly seems to be real vile quality deeply embedded into the Russian World. I guess the folks in Poland certainly understand it better than those of us half a world away.
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  221. Whose lives would really be improved? If Canada joined the US, it would certainly pull US politics away from the direction of recent times. That universal health care sounds great. It's their (Canada's) choice.
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  222. That I can understand. If I can't have it, well you can't either.
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  223. Mostly right on this one. The empire thing usually goes for conquering people and subjugating populations. I don't think the US is into that stuff.
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  224.  @thestigisme2349  Nope - I live close to the Northern border. The Southern border thing is not the big issue to me that it has been made out to be for the right wing. In addition there are a lot of Mexican folks around where I live. I see them just trying to work and make a living. Kind of like my immigrant grandparents.
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  225.  @thestigisme2349  I'm not running for office. I am voting. It's not one of my top concerns. I guess I think about the economy, infrastructure, education, health care, Social Security and global warming before I think about refugees at the border. Thanks for your information.
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  226.  @thestigisme2349  You are a wise man. Immigrants will help pay for Medicare, education, contribute to our economy and help build necessary infrastructure. Right wing people seem to often not understand demographics all that well. Good to see an exception. Have a nice day.
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  227.  @TeaParty1776 Yes - The quota thing did not work so well under the Soviet system. Shortages of items were common.
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  228.  @TeaParty1776 Like battle tanks. The surplus of these tanks is being taken care of now.
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  229. Do the oil companies and OPEC+ want the oil price down to $40 / barrel? This may not be a money maker for them. The tar sands people are close to the edge too. Our Northern ally may not be altogether happy with that low price.
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  230. I like the Peter Zeihan thing. Russia is such a huge country that they can have an extractive economy that exports oil, coal, minerals, timber, etc. They can sell enough for their people to do well. Isn't it kind of curious that it actually appears to have got worse once they adopted their form of capitalism? Maybe what has been missing in that country for a long time is good leadership that respects the value of human beings. The goal of leadership should be to improve the lives of the people. I read 20 percent of Russians do not have indoor plumbing. I guess corruption is built into the culture.
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  231.  @DIA1020-o8k  Perhaps there are plenty of goods and no money to pay. There must be some reason why Russian soldiers steal toilets.
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  232. Good Talk - Light wins over darkness. I guess my single point of light will not shine on that who the US courts have said have done evil.
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  233. Wow! All this stuff he mentioned. It just makes sense. If you have people running the store (government) that don't really know what they are doing than business will not go well. One thing he didn't mention is this debt cycle thing. Most of us are not good with money like Mr. Biernat. One statistic says that the average American is $66,000 in debt. Then there's the well known fact that so many live paycheck to paycheck. As government policies create fewer paychecks, there is a cascading effect as the debt goes unpaid. People get laid off and can't afford products. That doesn't help that Price to Earnings ratio he talked about. Economic crashes have happened before. Maybe people will get smarter this time around. At least for a little while.
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  234. No - People have choices.
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  235. I think you are right. Russia must be bad. They sell a lot of Italian style food. I never see Russian style food sold. Pizza or spaghetti always beat Borscht.
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  236. It really is sort of a biblical type thing. "It takes but one candle to dispel the darkness."
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  237.  @planetmikusha5898  One can have bad innings. One can sometimes lose almost half their games. Yet, at the end of the Season, they can still win the pennant.
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  238.  @planetmikusha5898  True - However at the end of the 9th inning, we are in the long run. John Maynard Keynes said, "In the Long Run, we are all dead."
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  239. Market forces are fixing a problem. Unfortunately, the problem was the factories wanted more cash flow.
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  240.  @smb-zf9bd Not an old wives tale. Companies have "Planned Obsolescence." Here is the definition: "a policy of producing consumer goods that rapidly become obsolete and so require replacing, achieved by frequent changes in design, termination of the supply of spare parts, and the use of nondurable materials." Look up the Phoebus Cartel. They ensured incandescent light bulbs had limited life. If you read about cars in the 1960s prior to market share being swallowed by the Japanese (and others), you will see that the big 3 automakers at that time designed vehicles for a 3 year life. Be careful buying appliances such as refrigerators and washing machines these days. Just go to an appliance parts store and ask them. I make it sound bad, however, I guess Capitalism certainly did a better job of producing consumer products than the boys of the USSR.
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  241. The guy certainly has a lot of confidence in what he says. I have to believe him. He's read a lot of economic stuff that would put a lot of us to sleep. The implication of what he says is that the lives of the average Russian will not improve. It is hoped that they connect the dots and point the finger at the Czar (Putin). On the other hand Russians could double down, blame the West and hang in there and be like sailors going down with the Titanic. They could bear economic pain and feel they are doing it for Mother Russia. I hope they have the sense to put pressure on the Czar to stop this war. It would be better for them in the long run. Let's also hope the orange man has the sense to maintain the sanctions.
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  242.  @ENGRAINING  What's a monopoly? Is it who sells the vast majority of stuff? It seems like all the electronic stuff is made in China. Some may be Japanese, European or US brands, but it seems the stuff is made in China. Is this a monopoly? All of it may not be the highest tech, but it is surely functional.
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  243. Thanks - Despite your fine video, many polls show that Trump leads in a battle with Harris. I don't know why. I really wonder. The arguments put up by Trump supporters to toss my vote his way seem to be often weak and even invalid positions on national issues. If he wins, it's bad news for Ukraine.
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  244. It seems like the Russians are very afraid of that. They do not want a free Ukraine, Belarus, Moldova or Georgia.
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  245.  @MarkShal-nv6bj  The news I heard is that the Russian folks are having big problems with YouTube. The word is that the Russian government doesn't like YouTube and is causing it to fail.
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  246. I like the way this guy quotes Star Trek. Nobody quotes Gilligan's Island any more.
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  247.  @Банкивасограбят  На Украине расстреливают раненых россиян
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  248.  @2paulcoyle  Then you talk to people and see a different reality.
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  249. It just seems that gas prices have been OK under Biden. We'll see with Trump. I worry about what tariffs will do to oil sand oil exported into the Midwest. It may help the sale of those electric cars he seems to hate so much.
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  250. Nuclear weapons,...no problem?
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  251.  @LD-vn3zu  I think they did themselves a disservice with the Laffer curve, trickle down economics, imaginary weapons of mass destruction, long wars and their great assistance in the creation of the Rust Belt.
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  252.  @chipsalom  The lady told me that at the Dollar Store when we discussed higher prices. Capitalism doesn't necessarily lead to freedom either. Russia isn't the only threat to the world. Big businesses are sometimes also a threat to freedom. "Freedom isn't free" - it requires regulations. Finns are smart!
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  253. There are still lots of houses in the Detroit area planned to be demolished. This entire rust belt thing with all those empty factories and wasted resources seems kind of dumb when examined in retrospect. They gave us a lot of neo-liberal BS about globalism and such. Somebody made a buck from all that pain.
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  254. How long before they decide to compromise? Maybe a month?
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  255. Wow! He had the whole Gaia thing going there with the world genes. I like to think he's right. Just about the entire Western world is helping Ukraine win. If they can hold steadfast, Russia will get steadily weaker.
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  256. I kind of understand about being neutral is not a good way to go. Unfortunately, I think voices like Marks are voices crying out in the wilderness. I am sure there are many millions in the US that have at best a dim awareness of the Ukraine war. Should we be harsh on them for their neutrality or should we be castigating the right wing media that keeps largely silent on this war? Instead right wing news is "Cherry picked" and gives the masses a distorted perception of the world.
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  257. I am not MAGA. In their defense, they have seen the effects of so called "free trade." I live in what's called the rust belt. Many people lost their vocations due to "free trade." (Also due to technology, but we'll ignore that.) Their life experience has shown that this grandiose idea has not provided any benefit. It' can be likened to another economic fairy tale like "trickle down."
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  258.  @Heater-v1.0.0  Any time one puts regulations in place they are managing the economy. Air pollution regulation is one such example. Safety regulations are another. These regulations done for the good of the people tilt the advantage to places where such regulations do not exist. Those places then have a "comparative advantage." I see nothing wrong with using other government rules to tilt the "playing field" back to being level. It's a delicate balance.
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  259. If he goes early, we get J. D. Vance.
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  260.  @Ralph-i5m  Another good reason to repel those invaders
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  261. I guess some of these Russian people that can't afford house payments may end up living in caves like the one behind him. How a country handles its finances does trickle down to the individual.
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  262. I think that neither president Musk or the elected one have the idea of the proper baseline because they don't see the world as Mr. Biernat does. Mr. Biernat has morals and these guys don't. Without morals they don't understand that the right thing to do is totally evict the Russians and make them pay reparations. They measure success by the reaction of the public. Besides, Ukraine should make the decisions on any agreement.. The country is Ukraine. It is not the US nor is it Russia.
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  263.  @FredPhillippe  Trump's promises are now butting against Trump's reality as Elon Musk dismantles whatever he can of the Federal government. It's barely hidden that Trump and his fellows plan to disrupt and destroy the safety nets that have helped those with hard luck. If the US is given the chance to vote again, promises from himself and his people may fall on deaf ears.
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  264. Russians are not retrieving dead from the battlefield. I remember the Klingons saw dead bodies as a lifeless shell and didn't care what happened to the corpses.
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  265.  @wtfroflffs  I believe in partial socialism and a regulated free market. The nature of men is not always good and regulations help correct those that perform actions contrary to the interests of the common good.
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  266. Good Visual Demo to burn the Rubles. I am hearing more and more that Russia is headed for hyperinflation. An historic example of that is the Weimar Republic in Germany. Not so many years after Germany had the hyperinflation, they greatly militarized and we had World War 2. For years now "President Snow" aka Czar Putin has been putting out the spin that the woes of the Russian people are caused by the West. When the hard times come with the hyperinflation, will the average Russian point the finger of blame at Putin? Will the average Russian point to the West and blame us for their monetary dilemma?
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  267.  @maestro6458  And wages? Are they keeping up with the rise in prices? Will they keep up with the rise in prices? Who will be to blame?
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  268.  @maestro6458  Cherry picking. Who wants to live in Russia? People want to leave.
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  269. Thanks for the video So I buy produce at Aldis. They are a German company. This video made me check. They left Russia. I can't think of any mass produced products that I buy regularly that could be in Russia. Gasoline, no. So, I think I'm good on the Russia thing. Russia seems rather insular in their economy. However, thinking just a bit outside that box, I think of China. With Chinese made goods I definitely have a problem. It is very hard to avoid Chinese made goods. "Made in Taiwan" is an OK thing. What about "Made in Hong Kong?"
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  270. The talk was about trust. Trump is a known liar. What Trump says doesn't matter. He cannot be trusted. This is reason alone not to select him. There are very many other reasons.
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  271. Most of the Scandinavian flags are crosses. I hope some of those Christian values have survived.
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  272. "It might be even bigger than the collapse of the Soviet Union." - Mark Biernat I don't think you'll hear this detailed analysis from any major news media. I sure hope Donald Trump knows enough to drive a hard bargain and not give Putin a deal. His track record with money matters is not so good despite his reputation. Keep those sanctions on.
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  273. Great background. Even the blue jacket worked. I hear over and over again that the Russians are looking for a pause to build up their strength. Their own rhetoric seems to confirm they have strong ambitions to rebuild their empire and won't be thwarted with a temporary setback Their people would be a whole lot better off with peaceful coexistence. It's crazy.
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  274. How well do potatoes grow there?
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  275. Your arguments are good. However, I wonder if you could increase your audience with a different presentation format. Sadly, I think many are unaware of these historic people to whom you refer. I think, at best, you will reach a limited audience. I liked the stairway. I immediately thought of "Stairway to Heaven." As you spoke I thought it could represent the long march upward to freedom.
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  276.  @knopkaplay0507  Now that comment was a surprise. I get a distorted impression living in North America. I guess from a people standpoint they may have maximized resources way over the single family home idea. Thanks.
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  277. The rubble wall behind him was an excellent backdrop for the discussion on the ruble. I certainly hope he is right about the Russian economy. It will force the Russians to take back their land from this post Soviet regime that is slowly strangling the people. Maybe, it will be something to be thankful for on the Thanksgiving day.
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  278. Mr. Biernat noted lots of stuff pointing to the tact that Mr. Trump is not a man of exceptional character. These things were known prior to the 2024 election. These things could be found by voters with a casual search on the internet. I am not political and even I knew of this stuff. In addition the tweets and speeches done while he was previously in office did not help provide details leading one to think that he was "the sharpest knife in the drawer." His convictions during the Summer were well reported. Now we come to the election. People had to choose between a black woman and and this convicted felon (Flawed Candidate). We all know the result. My view of the US public has been altered.
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  279. Lot of ideas once again to unpack. Trump is talked about. I don't think he even mentioned the name. Mr. Biernat notes that transactions are expected to assist Ukraine. The idea being touted is preference in obtaining Rare Earth minerals within Ukraine. I think this idea is being offered merely to help Trump rationalize doing the right thing. The right thing, of course, is to assist Ukraine in expelling the Mongol-like invaders. However, the whole idea of the Rare Earth transaction is merely a facade. These minerals can be found in US, Canada, Australia and other locations around the globe. There may never be an economic incentive to develop Ukraine's ore deposits. However, if this facade is necessary for Trump to do the right and moral thing, I guess it's OK.
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  280. Netherlands - I watch all these cyclists behind him. It is an environmentally safe way to travel. The country is known for it. Then there is Russia. Do they even consider environmental impacts of stuff there? You only hear of bad environmental policies from Russia. In so many ways, it's the evil empire.
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  281.  @Ula-Ka  Well - The joke is on me. Appropriate background just the same. 😊
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  282.  @abc-df1vg  Have you been to the rust belt? Have you seen the yearly politics of the broke government needing to borrow more? Have you noticed that innovations are now done elsewhere? Have you noted that there are 1.4 billion people in China making the products for the world? Did you realize there is an enormous trade imbalance? Have you seen the tent cities? In 2023, 36.8 million people in the United States were living in poverty. How many people can't afford housing or a decent education? Are you aware of the last US election? How long can a country support a strong military when much of the rest rots? Some things happen slowly but happen nonetheless.
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  283. Someone still has to repair and maintain all that automation. Someone needs to retrofit it things as production needs change.
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  284. Kind of a rambling one this time, but that's OK. Maybe, the recent news about runs on Russian banks will cause a negative ripple effect on the Russian economy.
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  285.  @toby9999  Yes - News reported on the differing exchange rates of the Argentinian Peso. There was a street exchange rate for the dollar and an official exchange rate. I don't see why the Ruble wouldn't have a "street" value. Of course the exchange rates are fluid.
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  286. Specialization - If you build a better mousetrap, the world will beat a path to your door. Well, maybe. You still have to sell it.
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  287.  @EconLessons Right - There is more to the world than the production and consumption of goods. There is the quality of life.
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  288. Your message was 180 degrees from what one hears from MAGA Republicans. I actually hope you win that money.
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  289. History tells us of Leon Trotsky, one of the founders of Russian communism. (1918) He fled to Mexico. It wasn't enough for the Soviets, they killed him in Mexico. I guess they've been there a long time.
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  290. This was good - I liked where he basically said the Russian have a "lizard brain" mentality. Trump cannot and will not understand that he will be negotiating with "talking lizards." The lizards have strategies that have worked since the time of the dinosaurs. They do not strike when they can be hurt badly. They are cold blooded creatures. They can sit and wait. Then they strike when their prey does not suspect it, is exposed and has a high probability of being hurt.
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