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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