Comments by "worn down" (@worndown8280) on "Econ Lessons" channel.

  1. The thing about globalization is, that all the costs for securing those markets, typically done by folks in the US armed forces securing shipping lanes or knocking out nations or "doers of evil", is never taken into account for your "oranges". Only if economists take those costs into consideration, can one take an actual cost benefit analysis of any global trade relationship. But this is seldom even brought up, let alone discussed honestly. And then there are the subsidies, which you probably arent for, but exists none the less.
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  2. People act like Russia isnt one of the largest wheat exporters in the world. Russia is number 5 in the world. Russia isnt going to starve. The people they export to might. This will lead to more global instability in developing nations. Perhaps another "mostly peaceful" summer in the Muslim world in 2025. Winter wheat crop goes in next month. If those areas are occupied and not being planted that means it simply will not exist come harvest 2025. Add that the the Ukrainian production that has gone offline, you are looking at significant decreases.
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  3. No we are in a trap. You combine crushing debt from near 100 years of deficit spending with demographic implosions you always get societal collapse. The reason for the population collapses is because of ideological reasons in all the nations that have them, and wont go away until those current systems collapse. There is one that transcends all those nations. that said, yeah, Zeihan is a Keynesian and a globalist.
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  4.  @EconLessons  define richer? Total asset value via a grossly inflated currency? What happens when you take into consideration debt load from the individual and debt owned by the citizen via their national debt? Most people have no wealth. Zero. Their debt burden cancels out what little they have. Heck I would bet a plurality have a negative value. If you mean people today have more material possessions, I would agree with you. But most of those assets are grossly deflationary. Cars, electronics and the like. Even homes, in my personal opinion which admittedly isnt worth much, are going to go through a decades long crash here, just like what is happening in Japan. And that is going to happen in every western nation. Whats your 2008 Iphone worth now? Whats your 2001 Ford Explorer worth now? These kind of things are most folks "assets".
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  5. The worldly philosophers, that is a name I havent heard in a long time. From Econ class back in the 90s.
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