Comments by "Nattygsbord" (@nattygsbord) on "Econ Lessons" channel.

Here is what Sweden's largest economic blog Cornucopia says (my own translation): "IMF base their numbers on the numbers that Russia themselves provide. For instance, Russia claims to have an inflation rate of 7%, while independent surveys indicate a rate of 23%. Anything else equal should Russian GDP-growth thus be reduced by 23-7=16 percent, and if those numbers are correct, then russia is in a deep recession."
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Meh.. they often got brown eyes, strange looks like Peskov, and nearly all of them are around 160cm tall. Even I as a relativly short viking are like 20 centimetres taller than the average Russian dictator for the last 100 years.
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@campfireeverything The younger version of him looklike Timon in the cartoon Lion King. Now he looklike the moon man because of all botox bloating. I have always thought that there has been something disproportional about the distance between his eyes that makes him look odd.
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Swedens economy have been doing poorly for the last 30 years compared to the period 1945-1990 when it was not obsessed about this stupid idea that the national debt must be kept low and price stability is more important than unemployment and economic growth. And having gold reserves is stupid. We do no longer have any gold standard and I see no point in getting one either. It was always a bad system. And gold is also one of the most worthless metals in existence.. its weak and not good at transferring electricity. It have almost no industrial uses at all.
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so far
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I think good times and bad times regarding inflation and deflation is a bit like this. People who like deflation will say that food is so cheap but complain that wages are low. And people who likes inflation can remember that they bought a huge palace, and then came the inflation of the 1970s and paid it all off so one almost got it for free. But what inflation lowers often later on complain about is the higher costs for food.
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they get cheap oil as long as the war lasts, and they see the west and russia use up their weapons against each other. so the situation benefits china. russia is more and more becoming the junior parter in their military pact. and russia will more and more have to bend to the will of their more powerful bigger brother
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They desperatly tries to keep the inflation out from the country. They have their national wealth fund (Statens pensjonsfond Utland (SPU) that owns 1.3% of the shares of stock market companies around the world. They use their money to buy companies in other countries so not all oil money stay in Norway and push up prices on almost everything. But despite this, are things very expensive in Norway. Wages are good but prices are high. So Swedes like to travel to Norway to work, and Norwegians drive to Sweden to buy stuff because everything is so much cheaper in Sweden.
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@peter-pi8bc I do not wanna get into politics and tell people to vote for this or that party, and I think republicans and democrats have their reasons to vote they way they do. However, I cannot ignore the utter hypocrisy of the Christian rightwing in the Republican party that made an impeachment on Bill Clinton for his affair with Monica Lewinsky... as if this issue has anything to do with his ability to govern the country. 🙄 And don't get me wrong, I have no love for Bill Clinton. I believe that the average Republican probably likes him more than I do. And yes cheating on ones wife is a scumbag move, but I do not think this is a political issue. With that said, do I think it is utterly hypocritical that the republican party 20 years later makes all kinds of apologies for Trumps behaviour with talking points like "we have all done bad things in our past", "we all made stupid mistakes in our youth" and yada yada... And sure one could have that opinion. But then one should also grant that generousity of forgiveness to ones political opponents as well. And I do not think Trump was exactly young as a spring chicken when he made his "locker room talk" on the bus and the things he is going to court for now. A man with less power, influence and fame would certainly have been convicted by now if he had done the same acts like Trump when he violated the 14th ammendment. I realize that the courts would not dare to give him a just sentence before he loses the election, because otherwise might the entire federal government lose trust with almost half of the US electorate... which could have very serious and dangerous consequences for the future of the country, and perhaps even a civil war. This stupid circus needs to stop. I hope Biden will win next september and put the last nail in the coffin for MAGA. Trump might then be too old to ever run again for president. Tucker might have a hard time replacing him as the MAGA successor. And the other names in the party are too radical and too weak to get anywhere. Taylor Greene is even hated among fellow radical republicans.
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Are destroyed weapons deflationary or inflationary? Max Keiser says it causes deflation, as valueable things are getting destroyed. While others mean that many weapons are paid for by inflation, and when the weapon gets destroyed do nothing except the newly printed money remain, and thus are higher inflation created
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I think the mentality was formed of this time period. When you look at old peoples homes you always see them save up things, including total garbage. They truely embraced the 2nd hand trend so to say. They rather kept things and tried to repair them than throwing them away. And in old peoples homes you can see old ugly butter packages being repurposed after the butter is gone, and becoming used as boxes. Compare that to the current day mentality of throwing away things and buying something new. Its often cheaper to buy a new computer than repairing and old lap top that is a little bit broken. I think that says a lot. Resources was scarce during the great depression and people had to make do with what ever little they had. And even if some people did get rich and succesful later on, would their values and habits still live on long after the economic crisis was gone and economic growth was strong. Its also clear that people have their worldview stuck in the past. People who had their worldview formed in the 1950s often have an over romanticised view of free trade, the EU and an obsessive fear about inflation leading to Hitler. We who was born in the 1980s see a society without any progress like more vacation, shorter workdays, better healthcare, better pensions, full employment. But rather a failed economy without affordable housing where it is hard to form families and have kids. I think there are pros and cons with those worldviews and values. One thing I think we should however avoid is to let these biases of the elderly generations getting too much power over decision making. I think outdated beliefs are harmful. Just like using tactics that worked on the battlefields of the old days do more harm than good on a modern battlefield. The worldview must constantly be updated. Just like the military. Walking in line formations and wearing colorful uniforms and letting flutes and drums play is not very effiecent if you fight against an enemy with minefields, machine guns, barbed wire, and HIMARS artillery. Many laws of economics from the past are still valid today, just like some general principles of strategy and logistics. However the world today is not the same as in the past. And that needs to be taken into account.
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I think most improvement reforms in history have taken place after disasters, and when people are angry and will not take it anymore and the working class and middle class demand for example the right to vote and universal healthcare and veterans benefits in exchange for fighting for the capitalists against USSR or Hitler. In France it was 1789 that led to the French revolution and the end of the ineffiecent parasitical feudal state. The disasterous defeat of Denmark in 1658 led to the end of the corrupt rule of the nobles, and a strong Danish state was created with a permanent tax system that could support a standing army. In the past did Denmark not have any peace time army since the nobles did not wanna pay taxes for it. And as a result did the Danish army not have any well trained regiments, and the armies were quickly put togheter in times of war against Sweden who had a well trained army with men who had trained togheter with each other for years and therefore knew each other well and would fight and die for their best friends. That team spirit did not exist in the Danish army before a new army was created that existed both in times of peace and war. Likewise did Swedens military setback against Poland at Kircholm in 1605 force drastistic military changes to how the military was organized. And the defeat against Denmark in 1613 forced Sweden to make drastic changes to its tax system and resource mobilization. And the result of these changes made Sweden the strongest military power in Europe of the 1600s, capable of conquering Moscow in 1610, defeating Denmark twice, occupying all of modern day Germany in 1630 and defeating the might Polish-Lithuanian Commonwealth. And the rise of corrupt nobles that put self-interest before national interest and refused to spend taxes for a strong military led to the disasterous Scanian war for Sweden in 1679. And the result became strong public anger, and the King, the people, the clergy and the mechant class united against the nobles and forced them to resign much of the wealth they had gained the last decades. And the result became good government finances and a strong military. The catastrophic defeat of Japan 1853, forced the country to make drastic changes to its society. It modernized it military according to German model, its navy according to the British model, its education system to the american model and later on German model, its banking system and legal system was modelled after Belgium and France and so on. And soon would Japan rise as a great strong economic power and a military power. So necessity seems to be a mother of innovation.
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That definition of money are old outdated and useless. It is also highly impractical and harmful to economic development as an economy needs an expanding money supply. I also do not take for granted that things said have any intrinsic value of its own. In the past was dog teeths used as money, but today I highly doubt anyone would see much value in them. And things can also go the other way around. In the past was uranium just useless rocks laying on the ground, before someone invented nuclear power and uranium became useful and valuable. Today are most money just digits on a computer. And like with all else is it supply and demand that determines the price of a Dollar, Yen or a Pound. You can create trillions of US Dollars and that currency is still valuable worldwide. But if you create trillions of Zimbabwe dollars you get inflation because there are no strong global demand for such money.
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The country was the home of the industrial revolution. It was skilled at new innovations like the steam engine, spinning jenny and it have produced many excellent chemists like William Henry Perkin. Also in modern times have the country been innovative creating everything from tanks, to radars, touch screen technology and the harrier jet. The countrys over-sized banking sector and free market dogma have harmed its economy a lot. But I am convinced that it will rise one day. Its just unfortunate that it have had a long series of bad governments for the last 40 years.
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@D.von.N I think British innovation fell behind the curve during the second industrial revolution when German and American industry grew and outclassed Britain in the new growth industries such as electro-mechanics, chemicals, combustion engines (cars etc), petroleum, and steel. Britain got outcompeted. And its free trade dogma prevented it from protecting its own industry from foreign competition like the Germans and Americans had done, so its industry got crushed in foreign competition after the 1860's. But Britain itself never fell into ruins because it had two other large sources of income: Banking and the merchant marine. The majority of all goods in the world was transported on British ships and Britain got an income for that from other countries. And British banks did give out loans to other countries, like Latin America to build railroads and the interest from all those loans flowed into Britain and helped to keep Britains economy afloat while its industry was doing so poorly. The overseas income from loans from colonies and dominions was of course also important. However the unwillingness to deal with Britains weak industrial performance did become harmful to Britain in the long run. I also don't think exploitation made Britain rich. Rather was it the early adoption of thought-through industrial policy that made Britain the workshop of the world. Edward III (1327-1377) is believed to have been the first king who deliberately tried to develop local wool cloth manufacturing. He banned the imports of foreign wool clothes and encouraged home based production of such clothes. The Netherlands was a world leader in this industry at that time - it was an industry considered the ultimate high tech industry of its time, so the Netherlands was considered the Silicon Valley of that time period. However the British wool industry was protected from being outcompeted and destroyed by foreign competition thanks to the protective tariffs. So the British wool industry could grow larger, and more effiecent. And later on would it become strong enough to outcompete and destroy competitors from the Netherlands, and Britain become the high tech economy of the world.
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Jeffrey Sachs = Financial terrorists. He gave Bolivia fascism, and later on went on giving eastern Europe the shock doctrine with catastrophic results for the people there and for the economy. Richard D. Wolff = Marxist clown. Michael Hudson = Conspiracy theory guy that supports Putins war of aggression against Ukraine. So I consider him as bribed and dishonest. He could have been an excellent economist, but he did instead sell his soul to satan. And now he pushes for conspiracy theories instead and he defend idiotic ideas like universal basic income.
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Youtube is censoring comments, and not Econlessons. Its brainless sensor usally deletes your entire comment if you use the wrong word, or if you say some sentence that it perceives as offensive towards some protected group (ie russians). But pro-russian trolls are of course free to write what the hell they like on this platform. Hypocrisy at its finest.
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Yes, their mentality reminds me of the aggressive imperialism mentality that was so common in the late 1800s. Its the same concepts and ideas there. A country's measure of success is only through the might of its military. Womens main duty is as mothers and baby making machines to provide the state with future soldiers and educate the kids. Other races are seen as inferior. Historical lands needs to be retaken. Its just social darwinism as Herbert Spencer did view it, and racists like Gobineau would approve it.Russia have tried to destroy many cultures by killing people, forcefully resettle them to Siberia and scatter them all over russia while russian settlers comes to Ukraine, Estonia and Königsberg to replace the native population. Just like russia do today in Mariupol and Crimea. Children are indoctrinated in a young age, and put in uniform even as small kids. And the biggest holiday in Russia is may 9th - the day of a boring military parade. Its not even a day of flowers, tears, remembrance of all fallen who gave their lives for the motherland... but instead is this military parade only about showing power and prestige to the russian people and the world for the benifit of the ruling party and nothing else.
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Power and prestige seems important to the ruling class. But if a good life for the people living in your land is more important than this dick measuring contest.. then trade and cooperation is a better way to go. Japan have done extremely well through trade and cooperation. Better than they ever did trying to be an imperial power that tried to get resources through warfare and conquest.
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Why hate a country that commits genocide and wars of aggression and have installed one opressive dictatorship around the world after another?
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They were reversing climate change
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@merchz2 One could argue that it was an improvement to introduce an "eye for an eye" with the introduction of islam to the middle east. That put an end to the blood feuds that you talk about, since a person was now not allowed to take away more than an eye from a person who had hurt him. Only at a later stage did people deescalate even more. However not taking any revenge at all is dangerous and stupid. Scandinavian justice system is a joke. The Breivik case shows this when a mass murderer can win against the Norwegian state in a court case, when he claims that his human rights have been violated when he does not have access to the latest most modern video games in his cell and can eat pizza every day. He now lives in a large cell with more luxuries than the average retired pensioner in Norway. I see this as a spit in the face of his victims, as the message from the Norwegian government is that their lives are less worth than that of a criminal. The second message that this gives out is that there are no severe punishments, so you do not have to fear much if you commit any severe crimes in the future. So I think that punishment still is much necessary in modern day society.
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@johnupjohn Seems like the tough pro-russians are some of the most easily offended ppl on the planet. And cry and gets heartbroken over nothing. Maybe thats the reason FSB people arre spamming on forums instead of fighting in the frontline like real men.
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Freedom and self-determination is the most important thing. Silly imperalist games is a mindset that should belong to the 1500s and 1600s. It only brings about deaths and pointless wars. Russia should focus on their own land instead of trying to steal others land and spend money to subvert democracy in other countries and make hostile take overs by bribing foreign politicians. If russia do not like that happen to themselves, then they should stay out from other countries internal affairs. Russia already got the biggest landmass on the planet. And if global warming is true, and the rest of the world turns into desert, then will russia have more lands available in Siberia when the snow is gone. Russia have great oppurtunities. It just have to focus inwards instead of playing silly imperialist games. And frankly, with such a tiny economy and technological backwardness is it impossible for russia to play the game of big politics in the long run. If a country cannot build stealth fighters and is too poor to build CATOBAR aircraft carriers then it cannot play the role as a world power. Russia is trying to play poker with a pair of fives at their hand. And a tiny wallet of a few ten thousand dollar notes does not take you far when USA and China got millions. And then are many other players far stronger than russia.. like Japan that is much richer and more technologically advanced, or India with nukes, a huge army, a large economy and endless manpower reserves. And EU with its much larger economy, technological advantage and larger population.
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Russia will never become an east-asian miracle economy, and especially not in times of war. And all ridiculous talk about BRICS being their ally (which they are not) are they still a minority of the world economy while west still controls 60% of it. And some countries that are not western or BRICS do also control some portions of the world economy as well. Regardless I think the russian government is not dumb enough to believe its own silly propaganda that is created to appeal to simpletons. Their goal is wage a succesful war economy. And I do not think that will succeed as they run low on good microchips and foreign currency reserves that will allow them to buy stuff from other countries. They are already rather bring back old garbage tanks like T-62 to life rather than building modern T-90 tanks. And I think that says a lot about russias lack of manufacturing capabilities. And when russia lose as much manpower in the last 5 days as they lost in 10 years of war in Afghanistan, then I think they are burning through Soviet stockpiles at such a fast rate that manufacturing cannot keep up and replace all losses of equipment. There are of course stuff the west needs to do to harm russia even more. We should put pressure on Turkey so they stop providing 70% of russias nitrocellulose they need for explosives. Before the war did Turkey only make up 1% of that export to Russia. And China should be aware of that any aid to russia will be punished very hard with sanctions from Europe. If things continue on the current path do things not look good for russia. By 2025 will west outproduce russia in artillery shells. And in better quality of artillery. From that moment onwards will Ukraine be able compensate a lack of manpower with superior fire power. And that advantage will only grew more and more. And that will mean lower Ukrainian losses and higher russian losses. And Ukraine could start trading artillery shells for land and take back its territory.
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@dragodragic4180 Indeed, and starting with the Great depression was a great asset for Hitler. That made the German people less picky about their own standards of living and was happy to get any kind of job. And Hitler gave people jobs and wasted Germanys money on military spending. Normally would people have protested, because they would not liked seeing taxes go up to pay for a larger military and see other government services shrink. But now did the economy recover from the great depression and all money made in the recovery flowed into the military instead of into peoples standard of living improvements.
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There are evil people who were vegetarians like Hitler. And there were evil people who were meat eaters like Pol Pot. Some of histories worst mass murderers were Muslims and Christians, while others were atheists. For some of them did religion play a big role in their motivation for killing people, while in other cases had their religion nothing to do with their deeds. In Putins case, it seems like he is just a soulless person. He cares about himself, and his ideology seems to be russian imperalism and supremacism. He wants a life in endless luxury and expanding the russian empire and he is prepared to walk over millions of dead bodies to get reach his goal. He knows that what he is doing is wrong but do it anyways. This war was always totally avoidable. Just like his other wars. Before the invasion 2022 he even manufactured hitlists for Ukrainians he wanted arrested and murdered. Ukrainian patriots and people in leadership position that had the potential to lead a rebellion against the new russian opressive russian rule was to be murdered the same way as the nazis murdered people in Poland as they hoped to destroy Polish culture and national identity. Professors, teachers, Officers, priests and even boy scouts were killed by the nazis in their 'Intelligenzaktion' and Putin have copied this recipy. Putin was even so disgusting that he provided his invasion army with crematorium trucks - another idea borrowed from the nazis I guess - so that he could burn all people wanted to kill into ashes. And without any dead bodies in mass graves would there not be any evidence left that could help to prove that Putin was commiting a genocide. Putins regime has even sunk so low that they built torture chambers for children in Khersun. And stealing Ukrainian children and murdering their parents is another idea he borrowed from the nazis. Just like all nazi talking points to justify his invasion with "retaking russian historical lands" and "protecting the opressed russian minority inside Ukraine/Georgia". Truth is that he does not care one bit about the russian speakers in Ukraine. Its not just Ukrainian speaking cities he have destroyed, but he has also destroyed the russian speaking city Mariupol and killing 200.000 civilians in the process. And he have done daily missile attacks against other russian speaking towns like Odesa, Charkiv, Dnipro, and Zaporizjzja. To me Putin just seem like a childish nazi wannabe ruling a mafia gang.
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Nope. Youtube blocks comments. I cannot even post "hateful comments" on my own channel without youtube deleting them for me without my permission. And russian trolls have a defealt setting to delete my comments when I respond to them.
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Hyperinflation happens to countries at war and socialist regimes. It doesn't happen to modern industrialized manufacturing super powers. Russia is a 3rd world country while USA isn't. USA can print billions of dollars and foreigners worldwide happily take that money and save it in their bank accounts. But there are not much demand for rubles. People rather trade that money away for something else instead. Worldwide demand for it is weak. So due to the law of supply and demand do I consider the russian currency much weaker as there are no demand that can suck up any extra money printed, and that means that there will be inflation. "Too much money chases too few goods" is another explanation of what the word inflation means... and given russias weak manufacturing sector is there no way it can counter more money printing by spitting out more goods like manufacturing economies of the west. All russia can make money off is from selling raw materials like oil, natural gas, and coal
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His murder of Prigozhin shows how much his word is worth. How much his friendship is worth. How much his words of forgiveness is worth. He is just behaving like an old Machiavellian renaissance King with no moral laws. Like how Christian II of Denmark acted at Stockholms bloodbath or how Hitler treated his former friend Ernst Röhm.
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He went to a French grocery store chain in Russia. And because it had shopping cart escalators there, is russia justified in invading their neighbouring country says Tucker Carlson. By that logic are Australia justified in invading New Zealand. https://www.youtube.com/shorts/tvrxyoscst4?feature=share
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He was using PPP as a measurement. Which is of course an incredibly silly way of measuring and comparing things. Its like when the Swedish government skipped measuring unemoployment in percentage points like the rest of the world, and began calculating it in absolute numbers instead and ignored population growth. So I guess that Nigeria with this method then must be the most succesful economy in the world as they create hundreds of thousands of new jobs each year... (and the rapid population growth in Nigeria is something that we should of course ignore)
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@kobbetop Of course. But since when have Putin ever cared about the truth? He said stupid stuff that are probably intended for consumption by the people home in russia that will not fact check his statements.
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We are not talking about value, we are talking about price. A bucket of coal is valuable regardless if you paid 5 dollars or 15 dollars for it. That coal is equally useable for barbeque regardless how much you paid for it. And that is its value. While the number of money you paid for it is the price. Fiat money itself got no value, it only got a price - and that price is how much other people is willing to pay for it.
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I guess he with "populism" means the illiberal democracy parties such as Fidesz of Victor Orban in Hungary. I would lump togheter it with pro-russian rightwingers like MAGA in USA, AfD in Germany, Le Pen in France, and Nigel Farage in UK. No term or label is completly perfect. And context usually matters. I do not mind populism itself (which should not be confused with Orban, AfD and such scum). Indeed not helping Ukraine is in fact an unpopular minority idea. Most Americans, Germans, French and Brits supports Ukraine.
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I believe he is hoping for a miracle. A miracle of the house of Brandenburg event. Like Trump becoming president or something. However throwing away russian manpower and material day after day in the waiting for that day does not make any sense. If he is too afraid to apologize, surrender and leave Ukraine... then I say its the right thing. Its what God wants (if he exist), its what is best for Putin, it is what is best for Russia, and it is what is best for the world. Its a decision that takes courage. The consequences might be dire. But the consequences of not doing it will only make things worse for Russia. And Putins time in hell will undoubtably be longer.
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I think a problem with Spains Latin American empire was that it was exploitative. Native americans was enslaved. Many died from diseases, and some died from harsh treatment and in violent uprisings. So many died that Spain felt it was better to transition towards a semi-slavery/semi-paid labor workforce. So the native Americans took a forced labor job for spain and got underpaid, over-taxed, over-charged for the food and other stuff they were forced to buy from their slave masters, and the Spainish crown and the local rulers got very rich, while the native americans became very poor. Society became unequal, and this prevented the rise of a mass consumer economy and therefore could no mass production economy rise either when people were too poor to buy good that were produced. And when England began to rule the waves it became difficult for Spain to rely on their old economic model of selling things to Asia and maintain division of labor. And when the silver mines ran out of silver, then did the economic engine that kept all other industries alive also die out. And places like Mexico deindustrialized. So sucking the value out as much as possible and letting the rich benefit at the expense of the many is a recipy for economic stagnation. However economic resources can be a big help to make countries rich - USA and Sweden shows that. But thankfully can also countries witout much natural resources also become rich thanks to innovation and manufacturing - like Japan, Prussia, Taiwan, Singapore, South Korea. Countries that are cold can become rich like Scandinavia and Canada. Countries that are hot tropical climate can also become rich like Singapore. Landlocked countries like Switzerland and Austria have also became rich. So I think that geological determinism belongs to a time of the past.
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Putin is standing inside a spaceship outside planet earth, and then he opens his mouth: Satan, I request the permission to re-enter earth.
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