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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