Comments by "Asbestos Muffins" (@AsbestosMuffins) on "Economics Explained" channel.

  1. "and children will live richer lives than their parents." Laughs and then cries in Millenial
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  2. "We'll let you in but for 3 months, at lowered wages, and just a few of you." You see what's wrong with this picture boris? This isn't going to solve your labor problem
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  3. and then pensions were almost all universally closed in 2008 and 401k's suck at replacing them. GOOD LUCK EVERYBODY ELSE!
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  4. tbf, ford pretty much reneged on all his early labor achievements by the 20s and 30s. I don't like how he gets so much praise when he had armed anti labor goons patrolling the factories, slashed pay, upped hours, shot protestors, and was the last automaker to unionize not to mention his attempt to be a feudal lord in Fordlandia imposing his views and lifestyle onto the natives there
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  5. economic warfare depends on how much economic exchange a country has with another. The US's sanctions against russia, cuba, and iran haven't been that great since we have very little economic activity with them
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  6. that is a very complicated topic that depends on a lot of things but also mainly just what kind of war you're involved in
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  7. everything I see of the USSR always makes me wonder what would have happened if it wasn't organized into a backwards oppressive empire, out of a backwards oppressive empire like they just ignored economics at every level and used the boot for everything and nearly every industry revolved around military spending look at china today, they have much of the government boot but they used it to gut foreign industries to juice their economy
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  8. short answer, maybe because non-edible foods will lead to lower overall food consumption, but it will also lower demand for food over time.
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  9. fitting this was prefaced by an ad by an insane billionaire who is desperately trying to convince you that the other side wants anarchy
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  10. yes you can! Just get rid of regulations and taxation, and give more money to the rich, somehow this will fix everything for everybody
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  11.  @0w784g  imagine a recession but you never recover, thats where britain is
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  12. The Private sector switcheroo is such a simplistic solution for everything that purposefully allows you to ignore the true costs. My city's schools were taken over by the state and they privatized everything, now all their service personnel are sub contractors of sub contractors of sub contractors, since even menial janitorial jobs do have a floor to labor costs, they have to be paying nearly the same in administration costs to all those different companies before those dollars even reach the worker
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  13. The time skip makes absolutely no sense in that we'd basically be in either a great depression or ww3, not just 5 years later
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  14.  @DigitalDissident  don't fool yourself, corrupt career criminals like mcconnel and trump have been robbing the middle class blind for decades. they don't have a plan for when it all collapses, the accumulation of power and wealth is all they work for
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  15. part of UBI is you're going to get rid of most of your individual social programs, which would at least make it more efficient to get money to the people who are already on or should be on these programs, but since you're expanding the pools to everybody the overall cost goes up
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  16. regular citizens game the unemployment system: "HERESY!" Big Corporations game the much much bigger pot of stimulus funds: "Good for them!"
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  17. well ya but also when quantum physics came up it absolutely caused a pandemonium because it meant you couldn't know things exactly, which is the absolute core of classical physics
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  18.  @Zed_Oud  if you think factories and 'productive buildings' pay taxes you're laughably wrong, but its a fault of our modern system that companies get to pit countries, states, and cities against each other
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  19.  @kaiseriv8483  ya I got that job that I could afford a house, only for everything around me to go up 5x in value in a year.
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  20. kind of interesting they made 10 large points to build a stable economy and forgot to include anything about personal freedoms (other than property rights) and political freedoms, you can't run an economy well in a totalitarian state
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  21. it pulled hundreds of millions out of absolute poverty and put them in regular poverty
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  22. it wasn't even the baby boomers, it was the politicians and financial elites from their generation that raided the future. Warren Buffet has not paid taxes for basically his entire life, that absolutely adds up and its not just him
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  23. the investor class has not had to feel the same pain that the rest of literally all of the world has.
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  24. @Gerald Tyler except there's more losses to the entire economy than there are opportunity for gains
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  25. ya, wealth inequality isn't simply a symptom of the world getting richer, we have had larger gains in wealth in other periods where the political systems forced the wealth downwards and inequality did not grow so unevenly
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  26. If my boomer former coworkers are to be believed, as long as we don't elect democrats they'll be fine. Because democrats are bad for people who have money.
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  27.  @hanszimmer9224  2k/year is still like 1/5tth of a semester in the average US institute, even community college will run more than 2k a semester
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  28. 1970s were not just because of dropping the gold standard, the US also became the petro-dollar
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  29.  @scottyhaines4226  I've got an engineering degree, it ain't helping either. Companies are massively unrealistic in the job skills they demand. I went to an entry level job where they instead wanted someone with 3-5 years writing AS9100 documentation, no college grad is gonna be able to do that, let alone someone with a few years in quality
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  30. problem with AI is unless they come at the end of a massive automation push that makes entire sectors of the economy completely automated, AI can only sit by and recomend things because the human actors aren't going to move one bit.
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  31. If millenials accounted for their fair share of the wealth we wouldn't have a political class that consistantly takes their votes and fucks off to centrism or far right wealth insulation
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  32.  @khaccanhle1930  Franz Neumann's Behemoth is a great read too as it was finished riiiiiiiggght before that whole plundering stage, not sure if its still in print, I found a very old copy in the discount bin at a book store
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  33.  @raybod1775  as someone who's been made redundant because of the idiot in charge, no. Companies want ubermen who can walk in, take charge, have decades of experience, and also will take minimum pay. Entry level means somehow you've got 3-6 years of on the job experience these days. its stupid but companies have commoditized labor to the point that they don't want to have anything but the perfect fit candidates
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  34. the problem is that in the 20th century economic theory became a religion for people, and you had more of a theological debate between the merits of capitalism and communism, now that there's only one, the priests of capitalism expouse it as the one true faith...er economic system
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  35. its almost like we should do more longer term sustained investment instead of panicky dumping of cash every time a crisis happens, but we can't afford that so oh well. I mean part of the crisis a year ago was trying to get people to stay home when they are sick without going broke but WE CAN'T JUST GIVE THEM TIME OFF
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  36. "More people have died of covid than in both world wars combined" ya and we're still encouraging people to get sick and die from it because our politicians and political agitators are ghouls chasing ratings and votes
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  37. just seems like debt is a perfect weapon for politicians of a certain bend, they rack up huge deficit spending on military and tax cuts when they're in control and finance that with huge debt issuances, then when anyone they disagree with want to propose a social program like expansion of the social safety net, they beat them up over how much it costs and how much debt it would create, even though they have made much of that debt and they continue the loop when they are back in power. I know this channel stays almost entire on economics, but politics and economics is intrinsically linked in a way few other fields of study are
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  38. those 41% who aren't employed are lazy good for nothing welfare grifters! So sayith people I know who haven't been on unemployment and welfare
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  39. how many more economic "miracles" can the environment endure before global warming kicks into overdrive
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  40. Anarcho capitalists are just saying everything would work out if you trust them, but other than broad economic assumptions, we don't have any real assurance that prices wouldn't end up fixed by cartels, that companies wouldn't end up forcing people to pay for things they don't need, or just straight up steal from people, or that they wouldn't just become corporate run monarchies.
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  41. Can you explain it in terms of magnetohydrodynamics?
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  42. Post-Thanos, people would get busy. And so they did.
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  43. businesses plan positions compensation on an annual basis, this labor shortage has been abrupt and very short term
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  44. the middle east rust belt is gonna be absolutely amazing when oil demand really starts dropping due to the momentum away from oil use in transportation (which is like 1/3rd of global oil consumption)
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  45. no the issue I have with my government is every problem is solved with a car
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  46. untaxed trillions as the boomers use the broken tax code to hide wealth as the biggest tool, the estate tax is currently non-functional thanks to a bunch of rich boomers
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  47. worse than algorithms, its controlled by Wallstreet Traders who don't understand the wider world outside of speculation. Every Vaccine candidate causes a rally even though there won't be One vaccine, and the virus won't be magically controlled once we have one, as it will be YEARS before we reach an effective level of vaccination
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  48.  @pointlessupdate  I don't see radical socialists anywhere. The few things that are on the agenda are social programs we already have just expanded to actually do something, such as providing healthcare that doesn't fall off a cliff when mass unemployment happens, or protections every other country, even the most uber capitalist ones, enjoy such as a not completely trash unemployment system and a tax code that PAYS FOR PUBLIC SERVICES. The people who are trying to take advantage of a crash are the anti regulation, grievance peddlers who want to fool people into thinking anarcho capitalism is in your best interest.
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  49. Seems like any positive benefits from a reordering of the economy through a recession are outweighed by the way that those outside the big earning class loose every time and the usual go to solution tends to concentrate wealth to those that already had it
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  50. not quite but the rich of the world have forced governments of the world to allow cheaters so the rich can avoid paying taxes and in general have no liability for their actions.
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  51.  @Hilaire_Balrog  you don't want the 'free market' the US used to have before the regulations of the 30s. CEOs were murdering strikers, causing massive social and environmental damage, forcing people into poverty through company towns, and buying themselves into office
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  52. I'm more partial to Universal Healthcare instead of a UBI because you have to state that in the US as the libertarian UBI proponents also want to eliminate public healthcare programs
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  53.  @callous21  ya because the millionaires would have used that 7 million to make jobs instead of, idk horde it away like they currently do
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  54. raise interest rates -> Crash the stock market, the poor loose lower interest rates -> loose monitary policy causes inflation which crashes the economy, the poor still loose
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  55. mercantilism is perfect if you insist the world is zero sum and somebody has to be stabbing you in the back, yet its still shocking certain graduates of esteemed colleges in Pennsylvania can still subscribe to it into the 21st century
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  56. I always wonder if we'll get to a point where persistent low growth rates force some government to mandate lower hours to increase consumer spending
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  57. the other issue with Universality, in the Us we have this massive undocumented immigrant population that lives under the table, UBI would pass them over without fixing the issue
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  58. and yet the stock market is doing fantastic!
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  59. the problem is that even office workers are becoming hourly, so cutting down hours reduces income instead of benefiting workers and in the USA of Freedom if you can't afford your benefits and costs you die, there is no state aid to make the gig economy work
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  60. "Since people aren't going to pay 300,000$ for a titanium toyota cammery..." Tbf, people pay 300,000$ for replicas of 60 year old sports cars, people are tots irrational in that sense
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  61. Its impossible to do this without the ukraine russia war, it can't be said if covid caused putin to invade or if it was inevitable
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  62. Gold can always be mined, recycled, and rarely just lost; Bitcoin though cannot be recovered once coins are lost, and the total number of coins is going to be capped until such time the major holders decide to devalue the coin by lifting the cap, which I'm sure they'll get around to... long term inflation of bitcoin is going to be a huge problem
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  63. Lets see how well Texas survives 2020 with a massive crash in sale tax revanues and lack of income tax vs New York who saw the same crash in sales tax but has an income tax
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  64. CPI is such a complicated thing to calculate though, the more data points you collect, the more realistic it gets. I think they even go as far as contact stores directly to price check things like specific brands of butter or milk
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  65. biden really screwed up reappointing powell, he refused to ease up on QE while the economy was blowing up, and now when we need it we're already overbought
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  66. once again, a video that thoroughly explores the issues and solutions, but again the issue is that the US is just not working on the problem whereas other countries are. We can avoid the spiraling debt of the current system, we just aren't because a minority of the government has outsized veto power over the rest of the government
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  67. maybe just anicdotal but it does seem like manufacturing is moving towards a 4 day work week regardless of government action. Quite a lot of the jobs I've interviewed for have been for 12 hour 4 day weeks instead of 8 hour 5 day weeks. Whether that's still good (or healthy for the workers)is up to debate. Seems like they want to be able to be open 24/7 but don't want to run 3 shifts
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  68. yes, and no, but also yes. The rich get richer both through the continued gain of wealth and through their assets and that's not stopping the poor from getting wealth, but the rich control the political system to tip it towards giving them more wealth, and also prevent the poor from getting any boost to their wealth, think tax cuts and stopping universal healthcare. One directly gives the rich more wealth while the other directly blocks the indirect transfer of wealth to the poor its the control of the political system to squash the poor that people are sick of because rising tides aren't lifting all ships and this is all before we get to the growing ecological collapse caused by global warming which will require the rich to give up some of their wealth to ensure society survives Economists seem to be a bit too myopic when it comes to the larger political, industrial, and environmental issues caused by wealth inequality
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  69. take big rock, park in orbit, ???, collapse the global economy because its material value is somehow worth more than the entire market, profit!
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  70. on inovation, its OK because in the MCU they were already starting to adapt alien technology, post thanos the interactions with advanced interstellar societies seemed to increase
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  71. amazon "barely" turns a profit like hollywood "barely" turns a profit on its own businesses. They can bill themselves for services provided by their own companies, creating loss where there is nothing but profit.
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  72. but that 0.04% of the economy that was fishing should be doing great, minus the french navy threatening to blockade the channel and the environmental problems with overfishing
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  73. dealing with the logistics of supplying enough money and keeping circulation up would alone be too huge of a problem for any one nation to deal with, and too many competing ideologies and policies to make any supernational bank work either. The Euro sort of works because the european countries are more or less aligned in a lot of areas, but the european debt crisis showed that doesn't always happen either. Try throwing a country in Africa onto the Euro, they'd have totally different goals.
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  74. thing I find funny is they burned every bridge with the west to pivot to russia, then when russia turned against them they went all out antagonizing russia too. Where's your endgame Erdogan?
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  75. "Steam powered cast iron meat grinders" lol that's a new way to put it
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  76. if only gold wasn't absolutely sacred, they could have invented coinage
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  77. the line is awsome!...when we need a setting for a dystopian post apocolyptic movie akin to Escape from New York
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  78. Seems like technology can't solve social problems alone and expecting productivity and technological advances to solve social issues regarding labor and its worth, has not given the prosperity promised
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