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I thought this video was going to be about how college loans are a poverty trap, but instead it's about a delusion that poverty traps just apply to underdeveloped nations.
When it was time to describe poverty you had to switch to BLACK people in AFRICA. You people are brainwashed disgusting set of fools. Y'all live you entire lives on credit and still have the guts to call us poor. If every country in Africa decides to stop exporting their natural resources the entire continent of North America and Europe will collapse in just 6months. Bunch of fools y'all!
You mentioned about "money trap" - where one is unable to earn enough for either basic needs (e.g. food, shelter), or for unexpected events like disease / job loss / repairs, which do happen from time to time for everyone. What is even worse when it comes to poverty is "mind trap": loss of self-esteem or feeling that one's actions do matter, addictions and aggression as means of dealing with that, and (in countries with good welfare systems) avoiding employment because as soon as a poor person gets work (usually not paid well), they lose some or all of the welfare benefits, so it pays off more to be a lifetime welfare system client.
There is no historical examples of Globalation or redistribution of wealth raising all boats. We have seen plenty of examples of fragile supply line and a lack of a local manufacturing causing issues. I would suggest the Japans low crime rate and high life span is directly tide to their zero immigration and lack of diversity
This video just glazes globalization highly and doesn't mention the serious problem that it actually causes, makes no uses of evidences to defend globalization, Summary) This video talks about how the rich should keep getting richer and the poor keep being poorer and how the big companies should fight each other and little to no should stay on the chain very toxic approach, Bad video overall + dislike.
In the US, there is also a benefits trap or benefits cliff. If you earn very little, you qualify for various types of aid, but as you earn more, these are all taken away. If a single person earns $12,000 a year, they can get free health insurance, food assistance, housing assistance, help with heating costs (LIHEAP), etc. If they work hard and begin earning $20,000 a year, all those benefits go away, and they will likely find themselves no better off (or maybe worse off) than they were earning $12,000.
Grace in Tanzania 🇹🇿 will never be in debt running into hundreds of thousands . There’s no poverty in Africa it’s all about mismanagement and bad governance.
