Will This be the Next Great Depression?

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In 1929, years of wild debt-fuelled speculation over company stocks came to a halt with the worst economic disaster in history. In 2001, years of wild debt-fuelled speculation over technology companies that were apparently going to revolutionize the future came to a halt when most were shown to be worthless.
And, in 2008, years of debt-fuelled speculation from borrowers that just needed that 5th investment properties and the bankers that were more than willing to accommodate this to sell some more mortgage bonds, came to a grinding halt when people realized that everything propping up this speculation was based on absolute garbage.
As of making this video, we have just lived through the fastest 30% market decline in US history - outpacing all of the examples listed above. And it's easy to think "this time is different".
But it is not...
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📚 Want to learn more about The Great Depression? We recommend reading "The Great Depression: A History From Beginning to End", by Hourly History
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25 мар 2020

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Комментарии : 3,4 тыс.

@EconomicsExplained 4 года назад

Thanks for watching EE nation! ❤️ If you enjoyed, please consider supporting the show on Patreon! 😎 See new videos early, participate in exclusive Q&As, and more! ➡️ www.patreon.com/EconomicsExplained

@AuroEsium 4 года назад

Our Uneployment rate in the United States is now a record high of 15% in April (depending on the source) and still growing!

@phoeben9764 3 года назад

It would be great if you can do a video going deeper into how the Australian government's JobKeeper and JobSeeker programmes are keeping the real estate market from going BRRR...

@goobabtc 3 года назад

A concept that seems to be touched on without direct mention is "Rent Seeking," where people profit, without actually contributing. There needs to be a video by a reliable youtuber on this topic! Especially since it goes all the way back to Adam Smith.

@toniladenheim8322 3 года назад

Who is Economics explained? Is it a person? Where does this person reside?

@toniladenheim8322 3 года назад

Australia? UK?

@KyudoKun 4 года назад

When this is all over I can guarantee you that the world would just shrug it off and never learn anything.

@cubersanonymous5180 4 года назад

Just like the 2016 election

@Channel-gz9hm 4 года назад

You mean continue selling out their countries to China because Chairman Pooh pays off all the pathetic politicians and embrace "free movement"? Probably. Thousands of people in NYC will be dying over the coming weeks because left leaning judges placed injunctions on Trump's Iranian travel ban.

@BMoser-bv6kn 4 года назад

This is the problem of propaganda, "the world" doesn't set policy, those who hold power do. The 2007-2008 bank bailouts were wildly unpopular, but it doesn't matter because they have power and the masses don't. It's a dictatorship with an illusion of democracy painted on top. Dracula isn't going to stake himself, why would he do that????

@lhaviland8602 4 года назад

Unless the majority of people (who hate this bullshit) decide to get together and do something about it. CLASS SOLIDARITY NOW! NO MORE BROTHER WARS! RISE AGAINST THE SLAVERS FOR A BETTER TOMORROW!

@mythlegend1994 4 года назад

@@lhaviland8602 Sounds like communist propaganda but OK.

@Stone_624 4 года назад

"Everyone Owes Money to Someone, and Nobody can stop collecting because of it" This is probably the best summary of the modern economy I've ever heard.

@gbat2479 4 года назад

Someone's asset = someone else's liability. Relying on debt for prosperity is like relying on slavery to create innovation. It don't make no sense.

@fionafiona1146 4 года назад

*Germany shaking Swiss hands*

@chiprobertson3094 4 года назад

I owe nothing

@might_e 4 года назад

chip Robertson nice, good on you, but your savings will still depreciate a bit

@zachsilver2806 4 года назад

I don't owe anything to anyone I'm so poor I don't have a dime but somehow I own a very nice home that is smaller than what must look down apawn but no bank or no person can come and take it from me

@mads_in_zero 4 года назад

The next great depression? That's impossible, they're printing money. We're not going to run out! Now if you'll excuse me I have a German History class coming up. *EDIT:* Uh oh.

@billhanson4505 4 года назад

Lol😂

@andrewstewart1464 4 года назад

Weimar you so worried?

@carlegerard8382 4 года назад

😂

@rolandoaponte214 4 года назад

You can continue printing money as long as your currency remains the preferred standard in the global trading markets, that's what add value. Gold standard? Not needed.

@freeloader69 4 года назад

mads_in_zero [insert nervous laughter gif here]

@wargriffin5 4 года назад

EE: "One thing is for certain, this will be an economic downturn of our own creation..." Me: "Aren't they all?"

@XRioteerXBoyX 4 года назад

@Yellow Lives Matter Investing is a confusing process for many people, myself included. When we look to find someone to teach about it, it's either vague, or specific to a certain context for a certain time.

@Numantino312 4 года назад

EE: "One thing is for certain, this will be an economic downturn of our own creation..." Me: "Aren't they all?" economic downturns CAN be caused by wars, famines, pestilence, and yes, by pandemics the egyption famines of biblical fame were not caused by humans. nor were 2004-2005 hurricanes. nor are current locust infestations in africa/middle east. the bubonic plague of 1500s was a hit for everybody, rich and poor alike. while some can point fingers at china and mongolia, it was not human created. [indeed, once it was past, the base for the renaissance was set: losing 30-70% of the population meant the fewer remaining workers were paid more, and real estate was cheaper because a lot of europe was simply depopulated.] THIS 2020 economic downturn is indeed our creation. the western world, and specificially america's farting around after 9-11 and 2007, trying to keep the illusion that it was still the mid 90s. if individuals, companies, and governments had their affairs in order, this pandemic would be a financial inconvenience, not a bevy of black swans that have consumed exlax for decades.. i fear that we're all going to pay decades' worth of bills thru some really weird combination of deflation, inflation, stagflation, and destruction of physical assets either by war, or by social disintegration. and that applies even if every last person were suddenly miraculously healthy and back at work tomorrow morning. “You were given the choice between war and dishonour. You chose dishonour, and you will have war.'" Winston Churchill

@briandiehl9257 4 года назад

No, the last one was by aliens

@MrHamtits 4 года назад

we know its you. you dont need to type "Me:".. do younot know how this all works?

@HiDefHDMusic 4 года назад

@Yellow Lives Matter "until the early ots" I assume you mean "aughts", as in ".30-06" (thirty-aught-six) or "00" (double-aught).

@EconomicsExplained 4 года назад

Obligatory, money printer goes BRRRR....

@sadpumpkinpie1756 4 года назад

yup

@Harshhaze 4 года назад

So does an A-10 Warthog

@hello-sx2nt 4 года назад

The market won’t decline anymore. The federal reserve has infinite dollars to boost it.

@God-yr9rs 4 года назад

Price mechanism distortion goes BRRRRRR

@Bipedalduck 4 года назад

These gay bears at wallstreet bets are riding the green dildo for 3 days. Meanwhile my holding has gone up 400% since Tuesday.FEELSGOODMAN

@brogot420 4 года назад

"This in unlikely to be more than just a bad flu, and probably won't personally affect you in any way." *2 months later* "Will this be the next Great Depression?"

@xanderx2523 4 года назад

It still is just a flu but the possible depression discribed in this video is mostly because of public overreaction and governement putting us all in quarantaine...which puts a strain on the economy...

@wrestlar3246 4 года назад

xander G It’s not an overreaction

@ArgandTabletop 4 года назад

@@xanderx2523 It's not just a flu. It's a virus that nobody has immunity to, and could result in, as others have said, overwhelmed healthcare systems. For example, the UK's NHS has extremely few intensive care unit beds, and without these lock downs, many people who would desperately need treatment to survive just wouldn't have it available. Many people would die, which would have an even greater impact on economies.

@falahati 4 года назад

@Jeff Jeff Well nobody said the economy has any moral code. People usually don't when presented with abstract ideas, why our platform of trading completely created based on these abstract ideas should have any? Now don't get me wrong, people who say this is just the flu and people are overreacting are not the most knowledgable in the matter. But sometimes we are at a crossroads of hard moral decision that is not as simple as they seem.

@drunkensailor3736 4 года назад

So we've heard about the economics of coronavirus. But what about the politics? This video does a pretty good analysis. How Coronavirus will impact the election: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Bb3LszemU8c.html

@senixahaa 4 года назад

I started calling my mom around Nov/Dec saying that I felt my local economy was drying up. I thought it was my area and I might need to move to the same state as my parents if I wanted more stable work opportunities. Everyone acted like I was insane. Look at us now!

@taylorx2 4 года назад

I never left my parents house

@ifukill7538 4 года назад

October 2019...... I looked at global debt clock = minus trillions....... Then printing Mickey Mouse Money....... I started prepping and growing food plants indoors. They are growing well, lots of strawberries, lettuce stump in water grows new lettuce lots of foods grown from food on youtube😷🍓🍅

@KevAlberta 4 года назад

Taylor i just left my parents house. I’m 23. But if it weren’t for some open doors I wouldn’t have moved out for years more I believe

@nathaniellong4281 4 года назад

Sounds like the economy is a giant house of cards that rises ever higher all the while becoming more and more likely to be toppled over by a gentle breeze. Or a giant Jenga tower constantly growing taller while more blocks are being removed from the bottom of the tower.

@brianbordenkircher52 4 года назад

Nathaniel Long pretty much, yes. Money is fake, it is not what feeds people. People will make out of this less well off than many businesses that barely even pay more people or taxes when they get stimulus money. Wages have sadly been stagnant with inflation since the last “stimulus”. When money is created 7/8ths for businesses and 1/8th for citizens, like in America, it creates a monopoly game that eventually ends not so good. The citizens don’t end up happy in the long run, when they realized they’ve been enslaved from the federal reserves actions

@ChrisJones-rd4wb 4 года назад

Thanks Kenyan economics, your the fucking best

@deriznohappehquite 4 года назад

Nathaniel Long welcome to neoliberal Keynesian economic policy.

@Cha0sLord93 4 года назад

Wrong. These are the examples of the state of economies that were not regulated or properly operated. Unfortunately the hard-on for bits of papers with ink on them has yet to pass, so we have to use something that does not represent the true value of something. The federal reserve fucked up the world economy when it moved from gold and silver, and look what happened to JFK when he tried to reintroduce the silver standard. We as humans have yet to establish a proper economic system to live by that doesn't break every few years. If only we could take our eyes of pieces of paper for once.

@ManoredRed 4 года назад

@@Cha0sLord93 But gold and silver are also only valuable because people project value into them. They have some practical/aesthetic applications, but most people would want gold only to trade with it.

@ImJustAoife 4 года назад

Great Depression Part 2: Electric Boogaloo

@Optimal_Production 4 года назад

Not everyone here is a Hermitcraft fan like me

@EconomicsExplained 4 года назад

coming this summer to a locked down cinema near you!

@asapriest3125 4 года назад

Lol

@ImJustAoife 4 года назад

I'm betting its gonna be a box office failure from the trailer we saw in from China.

@straw_hat1579 4 года назад

I didn't expect to find a hermitcraft fan here

@kek105 4 года назад

“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants - but debt is the money of slaves.” ― Norm Franz

@kofola9145 4 года назад

Unless you borrow so much you become the master. Arent banks the greatest debtors of them all?

@Thesomersetgimp 4 года назад

Wise words

@vince2nd 4 года назад

What's he say about Bitcoin?

@blazingfuryoffire1 4 года назад

I have silver, but not gold. I should learn to wield a rapier, the weapon of gentlemen.

@baconpenguin94 4 года назад

Bitcoin is the money of gods

@Enigmo1 4 года назад

5:12, why did my guy do a vibrato on the "strong"

@samuellambertmurrayduncan1412 4 года назад

Whahaha

@jasonyie2275 3 года назад

It’s meant he knows that it’s a lie

@hyperion3145 3 года назад

strŒńg

@Striker50_ 3 года назад

I read this comment before I heard it and 5 min later I died ☠️

@ViaHim 3 года назад

I read this comment as he did it lol

@aamandazittlau5505 4 года назад

When we can’t afford our antidepressants anymore, that’ll be the REAL Great Depression.

@jonahfaulkner1211 4 года назад

I lost my health insurance. I have major depressive disorder. I take trintellex. It's about $400 a month. I'm not going to be able to fill it.

@gen-x-zeke8446 4 года назад

It already is depressed. Adding addiction and all forms of mental illnesses, you're looking at 100 million 'potentially' pilled people in America.

@LastbutNotFirst 4 года назад

@@jonahfaulkner1211 you should look to herbs. you can spend 100 on herbs and get better results. depression can be caused by poor gut health. you are what you eat. eat better. take the proper herbs for mental clarity. detox your body with basic detox methods, like water fasting.. lemon and cucumber water and such. the real reason you are depressed so hardcore is because your body is trying to tell you to treat it better. stop feeding it fucked up medicine, and feed your body earths natural herbs. some herbs for the brain?? turmeric + black pepper is a great starter.. mangosteen juice powder with the rind.. organic wheat grass juice powder.. -- for the gut? yogurt, fermented foods, saurkraut, kimchi.. spinach, any leafy green veggies. i have had more problems than you can imagine, and herbs have changed my life 360. just look up herbs and see what ones work best for you.. i always take mangosteen, wheatgrass.. and always detox with lemons and cucumber.. and if that doesnt work.. i hit up antibotic herbs to clean the gut.. like zane hellas brand Oregano Oil, and olive leaf extract.. great for cleaning the system, and letting you rebuild your gut with good bacteria!.. your gut is causing your depression.. i know, because once i fixed my gut.. my entire body and mood elevated. it takes a long time to repair your gut.. be patient. something like 80 percent of americans suffer from candida overgrowth.. basically yeast.. and this overgrowth takes place in your gut.. offsetting your entire kilter. if you want to try to clear your gut.. look up a bottle of herbs called "candida cure".. 2 bottles of candida cure worked for me. candida, is just yeast overgrowth but guess what.. it can get so bad it turns into cancer. the rate of an american to get cancer is 2 out of 3. so most likely, you have candida over growth.. just statistically speaking and based upon your condition. you can spend 60 bucks a month, and within 3 months.. you will feel and look better. stop throwing 400 bucks at a stupid pill that doesnt resolve anything. resolve the issue like a man. 400 dollars a month of pills is just stupid.

@goldensloth7 4 года назад

that's what i'm worried about, im on 5 different meds!

@goldensloth7 4 года назад

sorry that's rude. whatever works for you, great. i tried all that stuff and got worse and worse.

@danger2236 4 года назад

government: prints money germans in the 1920's: ah sh*t here we go again

@thijsgadella 4 года назад

@plentyness its basically tradition at this point.

@golagiswatchingyou2966 4 года назад

@@thijsgadella well kinda been postponed and canceled every few decades.

@Jellygamer0 4 года назад

@plentyness The Irish and Swiss: _eats popcorn and drinks whiskey_

@c.g.5293 4 года назад

You say it like it’s a bad thing

@senseiadam-brawlstars9465 4 года назад

it seems that Germany has the lowest rate of death so far from the virus

@starcaptainyork 4 года назад

"The real big winners in a situation like this will be the people with a lot of debt that can stay solvent" Ooooof say hello to a huge rise in the wage gap and goodbye to the middle class.

@mfhfreq21 4 года назад

The middle class has been irrelevant and decimated for a while now already, even before the era of Trump.

@megahunterkiller 4 года назад

Oh stfu

@gamingmedley6619 4 года назад

Joakim von Anka yeah, but that’s kind of the whole problem. When the US economy was strongest, you could be part of the middle class without being a capitalist (in the sense you own a means of production). The bar for being middle class has continued to raise as wages have stagnated, resulting in an almost nonexistent middle class currently. That’s a big problem, because the economy functions better when there’s a robust middle class that can invest in the economy, instead of where the US is now where there’s an incredibly small upper class that contributes very little to the economy in comparison to the amount a healthy middle class could invest.

@altrag 4 года назад

@Joakim von Anka That has never been the definition of middle class. Middle class is just people who have a comfortable life.. not so rich as to be particularly extravagant (which is upper class) but also not so poor as to have to work themselves to the bone just to feed themselves and their families (the lower class.) The fact that the only plausible way of reaching the middle class in the 21st century is by having substantial business investments is a symptom of other problems. If you go back 50 years, most of the middle class were wage earners at factories and the like. But starting in the 80s under "Reaganomics" (ie: supply-side economics,) wages have been practically flat while costs continue to go up. There's no reason it _has_ to be the way it is today (and in many other countries -- particularly in Europe -- its not that way.) America has simply chosen to prioritize the wealth of the elite over the well-being of their populace. And it wasn't even hard -- they just promise you that you'll be able to join the elite "if you work hard," while they're off on their golf courses enjoying their leisure time and most explicitly not working very hard. The number of people who have joined the ranks of the elite since 1980 through hard work alone can be counted with only two or three digits -- in a country of 350 million people. Americans are given a choice every few years whether they'd like to keep working themselves to death for that 0.000001% chance of being the next Jeff Bezos or Elon Musk, or of they'd prefer to be able to relax and have a near-100% chance of at least enjoying life.

@Zain-tr2vo 4 года назад

@@altrag Increasing wages doesn't help. It just makes everything else more expensive.

@deleteduser87 4 года назад

Do you guys wanna know what fixed the great depression in U.S? *WAR NOISES INTENSIFY*

@rred8674 4 года назад

Oh shit you're right. Who's it gonna be?

@aeternavictrix7861 4 года назад

R Red hopefully China, I’ll volunteer immediately, ww3 is definitely happening in our life time

@mmmbored7939 4 года назад

@@aeternavictrix7861 if not, then when we are either in our 30's or 40's maybe Which honestly will be surprising if war doesn't happen nowadays

@hectorg9534 4 года назад

You forgot about FDR's New Deal and the fact that America was anti-war at the time and people weren't as brainwashed to be willing to die for a country that never cared about them outside of their service to the economy. The U.S. "recovered" from the Great Depression through massive public infrastructure investment and job creation, wealth distribution, and bank and corporate regulations

@mrleafbeef634 4 года назад

I thought sound money fixed the economy. Since it's a hedge against inflation & has been real money for about 5000 years.

@generaldeathmaster9295 4 года назад

Me: *has no debt* Me: *also has no money*

@michaelsotomayor5001 4 года назад

well played lol

@KevAlberta 4 года назад

Then you’re a lot richer than everyone who has debt

@juanio7036 4 года назад

Your better off then most people then and can recover a lot faster.

@nutlover3609 4 года назад

Michael Sotomayor So you’re saying my neighbour who makes 150k a year but has a 600k mortgage is poorer than me who has no money or a job?

@generaldeathmaster9295 4 года назад

NutLover360 yes

@Stone_624 4 года назад

How to be a Millionaire in the modern day. Step 1 : Borrow $1,000,000. Stonks

@jazldazl9193 4 года назад

Step 2: Hide money, go bankrupt and repeat

@MrBBnumber9 4 года назад

That is a small loan my guy.

@Shubham0811 4 года назад

Get so big with loan that even government comes to your rescue when you fail.. this millennia

@paulconner4614 4 года назад

Step 1 is form an LLC Step 2 is Borrow 1 million dollars. Step 3 pay your self a 1 million dollar dividend as owner of the company. Step 4 LLC files for bankruptcy. This is how the rich do it (or they buy a company instead of forming it)

@hellfun1337 4 года назад

@@paulconner4614 isn't that fraud?

@jordanreeseyre 4 года назад

What a nice house deposit you have there. Be a shame if somebody was to.... quantatively ease it!

@harrisonmccoll1093 4 года назад

If house prices were to get cheaper because of the downturn, would that kinda correct the issue anyway?

@robertmiller6444 4 года назад

Or negative interest rate it. Or both.

@demonvictim 4 года назад

@@robertmiller6444 negative interest rates wont work unless they take away physical cash or cash substitute. It essentially means that you will always lose money unless you are in debt

@blickluke 4 года назад

Oy vey

@krombopulos_michael 4 года назад

Realistically, since most people have to save for a deposit, everyone looking to buy property is kind of in the same boat, which means that property prices would likely go down, or at least not up very much.

@archygrey9093 4 года назад

Printing money has happened for thousands of years, at one point the Romans even reduced the amount of silver in their coins but said that the coin still had to be regarded as just a valuable as before, basically making money from thin air.

@mneedes2 4 года назад

Gresham's law in action: Bad money replaces the good. The smart Romans likely hoarded their old coins. This is also why you don't see many pre-1965 dimes and quarters in circulation. I found a 1964 dime once in my change !

@gracemeiman187 2 года назад

And that caused the enormous economic downturn of the Crisis of the Third Century. Good to know we never learn.

@patrickreynolds6270 2 года назад

Eh Romans experience high inflation at one point by mining too much silver too. Mining silver is the same as printing money.

@robertthompson737 2 года назад

@@patrickreynolds6270 similarly Spain crashed their economy when New World silver flooded their market in the 16th and 17th centuries.

@EduardoSantos-ys8gg 4 года назад

19 minutes and 30 seconds later the conclusion is that we are all boned

@Muaythaifighter1000 4 года назад

When the tide goes out you get to really see who's been swimming naked.

@praisethesun69 4 года назад

this is my new favourite quote

@N3ONLUV 4 года назад

@@praisethesun69 me too

@kavky 4 года назад

@whacky pax How old is Warren Buffet again?

@ThisIsSolution 4 года назад

@@kavky 255 yeers eld

@grimaldus1967 4 года назад

@@ThisIsSolution haha

@FinancialShinanigan 4 года назад

History doesn't repeat itself but sure does rhyme

@samobrien815 4 года назад

first as tragedy and then as SARS

@africanizedhoneybee6808 4 года назад

Hanta virus

@123kickinitSUPER 4 года назад

“History doesn’t repeat itself, but it does rhyme.” - Mark Twain

@samuelkibunda6960 4 года назад

@@africanizedhoneybee6808 *Hentai virus

@Keenan1996 4 года назад

Mark Twain?

@e7venjedi 4 года назад

17:42 "When the system in place to deal with a crises encourages people to partake in the type of behaviour that causes the crises, it's easy to see why we are in the same situation every 10 years or so." What a quote. Dang. I'm in my 30's now and it's fascinating what I've been learning the past 10 years. Hoping to have enough $ in next decade to take advantage of this repeating nonsense on the next go-round :P [Right now I have about 5k in debt and 5k in cash as an 'emergency fund', so I definitely won't be paying that debt off until inflation cuts it down to size lol] This channel is remarkably clear at explaining these concepts by the way. Massive kudos.

@3bertface01 4 года назад

interesting stuff - also, how many terabytes of stock footage do you have? 😂

@roscojenkins7451 4 года назад

Probably as many terabytes as my pornhub collection

@arthurduncan3074 4 года назад

... All the stock footage !

@jonsonj5249 4 года назад

was wondering, does this auto genereate, from the speach? it sure feels like it

@klaudelu18 4 года назад

I found this information interesting, and I'm sure it would have flowed just as nicely towards my ears if the video had one picture. It would have saved the author some money, or maybe just time, as well.

@klaudelu18 4 года назад

Actually, I darkened my screen so that I can focus just on the audio. I don't understand economics all that well, and the images are distracting. What I do understand, is spectacle directing. And in good shows (as with video pieces), we don't announce that we are doing something as we are doing it; we just do them. If we must say something, we make sure it adds to the action, not parrot it. One example of superfluous pairing of concepts: 18:52 - "This lack of economic focus... " paired with a shot of a camera pulling focus. meh. Great information in the video (^_^) Thank you!

@MadOrange644 4 года назад

Government: “Lol you were saving money for 10 years to get that house at the beach? Good luck with that homie 😂”

@asfandnasar 4 года назад

Government: "Should've taken a big loan to buy that house and then work 10 years to pay it off" . No?

@gwills9337 4 года назад

@@asfandnasar more like 30 years, brah

@altrag 4 года назад

@@asfandnasar 10 years is saving up for the down payment :-/..

@Chupacabraification 4 года назад

"We're doing you a favour really, that beach house was going to rapidly lose value as global warming kicks in"

@misham6547 4 года назад

wouldn't house prices actually fall making it a buyers market?

@MohammedR-fk2ju 4 года назад

There were alot of indicators that suggested we are heading into a recession in 2020 way before the covid 19 outbreak. The outbreak just accelerated the events and may increase the magnitude of the recession.

@More_Row 4 года назад

Mohammed # either way, it sure wasn’t a good thing.

@nixtoshi 4 года назад

For several years now the world has had low interest rates and a stock market that looks overvalued. What indicators were you looking at, that particularly pointed towards 2020? The only I can think of is Ray Dalio that started betting against the market in mid 2019

@GeneralBlackNorway 4 года назад

@@nixtoshi the infamous yield curve. Government bonds growing to such high demands that their yields become really low. Long term bonds usually have greater yields, when charted out it curves upwards. When the demands for the longer term bonds becomes so great that the yields become very low the curve on the chart becomes flat or inverted. In 2019 the yield curve flattened twice for a medium length of time. The reason the yield curve is important is because it is a nice gauge for the markets opinion of future economic prospects. All the smartest people in big institutions with a lot of money, tend to buy a lot of government bonds to balance their portfolios as government bonds are seen as the safest asset to buy. They are so safe in fact that they are bought at negative yields, meaning that the buyer will get less money back than they paid for it. The rationale is that it's better to take a guaranteed *small* loss than to take a potentially much bigger one. This sent a worrying signal about a potential recession coming in the next 18 months, but it was not certain. At the end of 2019 things looked more positive and people were more at ease. There had also been a disagreement between the big bond buyers and the stock market buyers. Those who bought stocks saw no problem and meant the bond buyers were imagining things. Now 6 months later it turns out the bond buyers were right all along. They looked at the fundamentals and saw the danger, the house of cards ready to collapse. All it would take is a powerful enough shock to kick things off. The US-Iran conflict was one thing making the markets feel uneasy, but that turned out to not go anywhere so everyone could breath a sigh of relief and get back to business as usual. The trade war was another thing that could potentially set off the recession but both US and China seemed to play things just within the means of keeping the world economy chugging along just fine. Then out of nowhere came the virus that no one expected would have a significant impact. All of a sudden all the governments start freaking out and shutting things down and soon after the stock market starts crashing. Governments start pumping out fiscal stimulus like no tomorrow to ease the damage they've done with the strict shut downs. No one expected this a few months ago, not even the bond buyers, they just knew that there was a potential for collapse.

@nixtoshi 4 года назад

@@GeneralBlackNorway That is a great response. In addition to the triggers you mentioned, I'd add the oil price war started by Saudi Arabia's crown. I was trading the day the price war was announced, the US500 was still trading in the 2900 range before the announcement, it had lost $400 from corona and the US-Iran war. That monday alone was crazy though, I saw some energy stocks lose as much as 80% on that day. Energy, commodities, banks, indexes all down multiple percentage points. I remember a headline that read "it's utter carnage out there". Looking at the yield curve over time, it does look like a great predictor, it has signalled the last 7 market downturns correctly

@lhaviland8602 4 года назад

And the bigger/ longer the recession, the more money gets funneled to the rich from decent people. JUST SAY NO TO FILTHY BANKERS AND STOP THE MADNESS! NEVER LET THEM FORGET THE YEAR OF THE RECKONING!

@DBKarel 4 года назад

The USA's stimulus is not a fiscal policy, it's a monetary one. Fiscal would be cutting taxes, what they're doing is monetizing their debt and printing currency, monetary policies.

@RockPokTaoFong 4 года назад

Hi-ek!

@ThomasStephenForster 4 года назад

This is why Pelosi is stupid.

@ThomasStephenForster 4 года назад

@@RockPokTaoFong Mhmm. Love him.

@juanio7036 4 года назад

So they bailouts banks and big Business and letting small business and the public fend for themselves. Nothing new

@bruhmoment7546 4 года назад

You don't seem to understand these terms, monetary is what a central bank does and fiscal has to do with taxes and spending.

@AT-wj5sw 4 года назад

Short answer. Yes this will cause a Great Depression

@nightnday6675 4 года назад

Dalton Wrong

@homelessrobot 4 года назад

@@nightnday6675 Oh, right. we forgot the counter argument of 'Wrong'. How stupid of us.

@brianhelmuth9414 4 года назад

@@nightnday6675 What a fantastic argument. Not only did you make your point with one word, you also solidified my understanding that really what drives the economy is confidence. So 'wrong' is quite an apt argument. You've convinced me sir. We are going to go through a great V-shaped recovery and immediately everything will be normal again. Huzzah!

@AwesomeHairo 4 года назад

World Depression 2

@21stCenturyFilmmaker 4 года назад

Unepic games

@ahmadhijaz1631 4 года назад

100 years already? It is better now than 2029.

@Liamreeves 4 года назад

The Mandibles?

@rogerwilco2 4 года назад

That quote is a reference to the 1919 flu pandemic.

@tedarcher9120 4 года назад

2021 depression was worse than 1929 tho

@dashiellgillingham4579 4 года назад

Okay, seriously, I’m so lost right now, I need someone to explain this ‘joke’ to me. If it’s obvious to everyone except me, I apologize, I am on the autism spectrum, and I still need someone to explain this.

@sesequatch2598 4 года назад

@@dashiellgillingham4579 Spanish Flu the last world wide epidemic.

@rjsimpson2484 4 года назад

Noooo u cant print money to fix debt Hehe money printer go brrrr

@ohcaptainmycaptain3478 4 года назад

@@user-ez9is7lb9p Hehe BRRRRRT BRRT BRT

@TylerSolvestri 4 года назад

Hitler: Wait, isn't it? 0_0

@alyssashady 4 года назад

BASED

@dekippiesip 4 года назад

Just pay with toilet paper.

@Iron-Jupiter 4 года назад

brrrrrrrrRrrrrrRrrRrrrrrRRRRRRRRREEEEEEEEEEEEE

@Santiago-xw7dk 4 года назад

How do you know America is out of a economic depression? When the next depression hits.

@ufhb6649 4 года назад

Santiago Amarillas or they make up a false flag attack and invade some random third world country

@TheInternationalist 4 года назад

Absolutely no mention of special interest groups, corporations, etc heavily influencing governments which in turn maintain this path of poor economic decision making

@nicksilver3757 4 года назад

Video could only be so long...

@daotterfreak 4 года назад

anyone in their position would do that, it benefits them to do so. the problem is there is a government so powerful that it can do these things in the first place

@raymondulrich3811 4 года назад

I'd posit that's common knowledge. This does a good job of not heavily moralizing our state of affairs, but proving that it is untenable as is.

@renaissancenovice7202 4 года назад

That was why we had the 2008 recession: government said it was racist to not loan to people who couldn't pay them back and made it policy that banks had to do it.

@monsterhunter445 4 года назад

@@renaissancenovice7202 oh what a loaded statement. The easing of lending was done to sell more loans how can we get even more profitable. AIG then was insuring those risky loans so that banks felt more comfortable. To imply what you said is ridiculous.

@gusvieweg 4 года назад

Loving the dramatic piano rendition of "Land Down Under."

@TV---kn2rl 4 года назад

I was trying to figure out what that familiar tune was!

@andrewradford3953 4 года назад

With hints of Kookaburra in the old gum tree.

@NihongoWakannai 4 года назад

@@andrewradford3953 no, it's just land down under. The band was sued for their use of the melody from kookaburra sits in the old gum tree

@mateuszsmagacz8332 4 года назад

I feel this video will age like fine wine, this is for people watching in 2029 when the money printers have been going BRRR for 9 years!

@temptemp4174 4 года назад

Bunta Fujiwara are you a Futa?

@tyranno6_ 4 года назад

plentyness it goes EURRRRRRRRR

@maxresdefault8235 4 года назад

Any truers?

@nicksalvatore5717 4 года назад

Everyone like this so it’s on the front page in 9 years

@mateuszsmagacz8332 4 года назад

@plentyness German printers go brrr and then chambers go tsssss. We want to avoid a repeat of the tragedy.

@vladutz00ify 3 года назад

Appreciate your videos! I think leaving the sources in the description for those who are interested in further research would be great. It will also increase the credibility of the channel. Keep it up!:)

@stephenmorgan6507 4 года назад

Thanks for a great and honest post that explains everything in simple terms, sad but so true.

@ristopaasivirta9770 4 года назад

No, Monday morning after a holiday is the great depression.

@Ishowpeed 4 года назад

Big facts

@joshua3611 4 года назад

So the day after Easter Sunday?

@GreenBlueWalkthrough 4 года назад

I thought it was working on a holiday, then the weekend and then waking up on Monday after.

@almusquotch9872 4 года назад

"Printing more money will cause inflation" Keynes has left the chat.

@muhammadabdullahhanif8860 4 года назад

How Keynesian economy make print more money and not cause inflation? Genuine question

@kevins3821 4 года назад

*Weimar Republic has left the chat*

@ww8520 4 года назад

Milton Friedman has left the chat.

@hyprolxag 4 года назад

@@muhammadabdullahhanif8860 printing money in theory eases the shock from falling aggregate demand and falling price level in the short term but it is always easy to be said than done

@kiliwami4086 4 года назад

@@kevins3821 *Hungary has left the chat*

@willmarindotcom2078 4 года назад

5:13 -- Wavering "Strong" Button LOL Beautiful vibrato on that note...

@chonchjohnch 4 года назад

Broke: using biz for stock advice Woke: using biz as a source of schadenfreude

@hemprope4326 4 года назад

Gay: playing fortnite

@megaagentj2248 3 года назад

@@hemprope4326 why did we need someone to say this? What does this contribute to anyone?

@kristopherrobin4001 3 года назад

@@hemprope4326 hotel: trivago

@Vivi-mp9nn 4 года назад

Positive: good memes comin Negative: life sucks even more

@dss1095 4 года назад

Broke millennials memes, people taking selfies in an alley way by there cardboard box of a home

@milfbangerbhabhilover9771 4 года назад

Oof

@chiefmaggot360 4 года назад

Both pros

@VriendP1 4 года назад

@@dss1095 in 2020, "homeless" doesn't mean "offline". That way everyone gets to "enjoy" the sweet fruit of "progress" .

@VriendP1 4 года назад

@@prathiknayak1434 how about from their car or at McDonald's? And in the USA, at work?

@juanfranciscovillarroelthu6876 4 года назад

hehe, printer goes brrrrrrrrrrr

@ohcaptainmycaptain3478 4 года назад

BRRT BRRT chk chk chk BRRT

@welporajackwelp4899 4 года назад

Funny munny hahhahah just print more

@pygmalioninvenus6057 4 года назад

You're easily amused.

@tusharsingh4543 4 года назад

I do indeed go brrrrrrrr.

@user-ep2my6bo2z 4 года назад

>tfw you base your entire economic system based upon empty belief that a piece of paper has """""value""""" And then people wonder why we have shitty standard of living and unemployment.

@richmackin 4 года назад

Thank you for the piano cover of "Land Down Under," the best thing to happen to me today.

@wesidk5662 4 года назад

2:05 I wanna be the guy wearing a cowboy hat to a multinational meeting

@jcleary1945 4 года назад

Maybe you'll see this comment since the vids just launched. Deepest thanks for the edutainment you've provided every single video since this channel was born. A service to humanity, and masterful production quality. You're a hero EE!

@ColeTrainStudio 4 года назад

It seems like most of the "s" sounds at the end of clauses/sentences have been clipped off.

@JTProductions3 4 года назад

Must be an automated program

@JS-ob2xt 4 года назад

It's so jarring to listen to

@axelnils 4 года назад

Auto de-esser

@falahati 4 года назад

It's probably the auto noise remover.

@wilmantube 4 года назад

Yeah I'm assuming he's selected all the clips and added fades in and out. It's pretty jarring... :/ still a great video

@shazoids 4 года назад

Brilliant video, especially like 5min 30 secs in when the guy is looking at a flip chart with graphs on it, so indicative of meetings all around the world.

@boranboynuk 4 года назад

I recently discovered your channel and I'm binge watching your videos. Thanks for quality informative content. I would be really interested in seeing your take on the economics of Turkey :)

@angelopaulovelasco2981 4 года назад

Can you cover tourism economics? Seeing as there are travel bans, places that depend on tourism are severely affected, perhaps even more so than other types of businesses

@josephlee9496 4 года назад

The sheer amount of EE vids atm brings me joy

@EconomicsExplained 4 года назад

Red bull is a path to many abilities some would consider to be.... unnatural.

@jorakarandas6592 4 года назад

@@EconomicsExplained don't add vodka to it please, and don't add coffee afterwards!

@keveinkevin4422 4 года назад

Probably Crona vaväcation

@matthewslentz5481 4 года назад

You have no idea how much joy it brings me to know that you are well versed in memes

@---uf2zl 4 года назад

@@EconomicsExplained "Red bull" is a good analogy for the stock market right now.

@liamjackson7501 4 года назад

G'day mate, thanks for the channel. I'm just a working Ozzy bloke, who at 46years old, has decided to be an apprentice Sparky. I've a young family to provide for. I'm worried about the long term economic fallout of our current crisis. You are providing information that is helpful, particularly to a family with a long term plan. So cheers mate 👍 It is good to be informed. Keep up the good work ! Thanks.

@danielweatherly9733 4 года назад

This was the best explanation of how the economy works [in regards to central banks and debt cycle effect] I have ever heard. And I went to grad school for economics

@thecringekid5744 4 года назад

I think you mean, the Great Economic Oof of 2020.

@SnzyBat 4 года назад

more like The Great Economic COOF of 2020.

@joelifter 4 года назад

The crippling depression

@TylerSolvestri 4 года назад

The Economists predicted this 😎👌

@clauvex7829 4 года назад

The Big Sad

@TSTVM 4 года назад

More like the Great Depression of the 2020s

@dannyn.6933 4 года назад

Big RIP in advance for the college kids that are about to graduate in the next few years.

@ianlilley2577 4 года назад

And here I was dreaming of becoming a carpenter with wife kids. Building furniture from a worshop at home. Now looks like I will be lucky if I will be able to live alone.

@fionafiona1146 4 года назад

Having " high " taxes feels very good right now

@scapeg0at65 4 года назад

@honest_bishop5905 4 года назад

@@ianlilley2577 what's a wife kid?

@ninjababin0967 4 года назад

Why? Wouldn’t their debt be reduced by inflation?

@dezmonddurham7366 4 года назад

If we’re asking if this is the next Great Depression. We are not in a good spot 🤷‍♀️

@MeepChangeling 4 года назад

Wrong. If we're asking, we're fine. It's when no one has to ask that we're fucked.

@hyperion3145 3 года назад

@@MeepChangeling It's when people say "I wish this was the Great Depression" that we know we're fucked

@hassanjahromi7041 3 года назад

Very comprehensive, thank you

@neeneko 4 года назад

I think once businesses figured out that they could buy companies, have them take out big loans, then pay the parent company 'fees' before spinning them back off... the idea that all business debt is good debt went out the window.

@okthennone 4 года назад

yes

@TV---kn2rl 4 года назад

Wow that sounds like some kind of MLM but with companies instead of individuals

@dimitriosdrossidis9633 4 года назад

@@TV---kn2rl what does MLM mean?

@robconstant797 4 года назад

@@dimitriosdrossidis9633 Marxism-Leninism-Maoism

@laudeinvicta7113 4 года назад

W8 what do u mean by spinning them back off? because your notion could lead to monopoly for some reason.

@StraightcheD 4 года назад

The irony I see is, it's considered right to bail out the financial sector at the top, but wrong to bail out the people at the bottom.

@A_Box 4 года назад

Even then, the bail out money is not issued by the government but borrowed which just makes the problem worse. A real solution must consider having a debt free currency issuing system such as Lincoln's green backs.

@holmeshome1118 4 года назад

Great video, clears most of my doubts! Thankyou so much

@eldadlevihevroni 4 года назад

Really enjoying your channel, thank you.

@theodorus_55 4 года назад

When toilet paper becomes the new currency, we'll be able to wipe away our problems.

@hansolo5912 4 года назад

@Steven Moore creating a toilet paper inflation. Oh no

@L0stEngineer 4 года назад

As an engineer, I feel like Economic explained discussing a secondary depression is like a White Star line chief engineer explaining how many water tight bulkheads we just scraped open.

@Operator-sr1vw 4 года назад

Shut up, boot.

@bluemountain4181 4 года назад

Don't be ridiculous, this economy is unsinkable!

@raulpetrascu2696 4 года назад

"It's too big to fail"

@evanmaier2551 4 года назад

Obligatory "as an engineer" - an engineer

@geor664 4 года назад

Everyone knows that the ship is sinking Everyone knows that the Captain lied. L. Cohen.

@Philsta007 4 года назад

Thanks for these videos. Really interesting, especially this one. It will be interesting to see what the next few months brings.

@josuegarduno7154 4 года назад

"F*ck savers" I literally laughed out loud

@chasingsystems 4 года назад

I left economics in high school to pursue a career in science. This channel re - sparks my love for the wild west fuck show that is economics. Love it

@marcomolinari8354 4 года назад

Ma man S M you've been lucky enough to mon study economics in college cuz now you certainly wouldn't love it

@Lucky-sh1dm 4 года назад

E.A.G 65 it’s fucking insane bro

@geemcspankinson 4 года назад

"No you can't just try to survive a crisis by licking corporate boot" "Haha printer go brrrrr"

@ethanetn 4 года назад

Id sooner live in my car before taking out a loan and getting into debt. The idea of it is terrifying

@alexjrk1675 4 года назад

I never spend above what I can because I'd hate the idea of being in debt. Its practically giving someone else ownership of your life because now you have economic shackles controlling your moves, unless you're like a friend I've got that sees debt as imaginary and free money.

@ifukill7538 4 года назад

@Dan Ryan Banks fails and money gone😱

@mihovildanicic5305 4 года назад

me too, but watch again from about 16:00

@animusadvertere3371 4 года назад

Clear explanation, thanks!

@LUIOFFICIALLY 4 года назад

the people in the stock footage looks like sims characters

@Jagrofes 4 года назад

“Well over 1 million” Bruh, 1 million will get you maybe a slightly spoiled cardboard box in Paddington Sydney.

@lessforloans 4 года назад

Jagrofes same here in Southern California

@donaldtrumplover2254 4 года назад

Gato Grande where? The shitty desert part where shit is a little bit cheaper or the city part

@ogc9649 4 года назад

I live in a 1.6 million dollar 1900 sq ft house in the Bay Area lol.

@derpidius6306 4 года назад

@@ogc9649 You got the 0s backwards there buddy, it is actually 0091 sq ft, or 91 sq ft. Same goes for how much it cost, that cost you 6.1 million

@runeplay2 4 года назад

God I love living in Ohio... 1870 sq ft. for $260k.

@conradschumacher4013 4 года назад

Really great explanation, thanks Aussie.

@johnmichael642 4 года назад

AMAZING video taught me SO MUCH

@mart95able 4 года назад

Utterly important information in times such as these. Sadly, heavily unknown as well by the general populace. I will share this around, thank you for the quality videos and your input in informing the public.

@johanliebert6734 4 года назад

Looks like the 'invisible enemy' gonna make us stay at home longer than its duration

@TylerSolvestri 4 года назад

Except that the vacations are paid 😐😤

@user-ix5wr5vf1v 4 года назад

Very well put together video

@rahonui7 4 года назад

Great breakdown, thanks.

@vasilistsitsas5088 4 года назад

Man... This is so sad, i am from greece and we were just now starting to come back from the last resesion in 2008. Can I get a break?

@fitmotheyap 4 года назад

I mean you did kinda try to not really exploit the EU but i do not know the right word But nah it's not your fault Your goverment is going shit Also name dispute btw A name matters more than business opportunities and easier travel Yeah i do not think your country is goin good

@vasilistsitsas5088 4 года назад

@@fitmotheyap I was talking from the point of the every - day person's life. You know? Not politics

@josef2012 4 года назад

Nah

@asimjadoon4936 4 года назад

something about this channel just hits me....like "yeahhhh i needed that exactly"

@samiraperi467 3 года назад

That print head printing more money was hilarious. :D

@Sunny198325 4 года назад

Shhhhh. Can anyone hear the Brrrrr. Thats the echo of printer printing Zimbabwean Dollar.

@markmatava4551 4 года назад

If this becomes another great depression EE will have to become our generation's FDR

@reesehendricksen1871 4 года назад

Depends on your viewpoint of FDR, some of his policies extended the Great Depression.

@JanSanono 4 года назад

Reese Hendricksen such as? I’m not an expert on 1930’s US fiscal and monetary policy

@Celtic_Blade 4 года назад

Jan Sanono The new deal did not stop the depression. WWII did.

@Menace__ 4 года назад

Mark Matava Bernie Sanders

@ferdy7819 4 года назад

@@Celtic_Blade ww3 it is

@jasonbigg8341 3 года назад

Brilliant as usual mate. Thank you.

@andrecorreia4301 4 года назад

I recommend everyone listening to the Peter Schiff Podcast. He goes in depth, explains reasons, consequences, and what the fed is doing (which is terrorizing) etc.

@elhaddad3435 4 года назад

Andre Correia are you a forex trader?

@hermanskledar200 4 года назад

Yes buy gold, silver and bitcoin

@brinkmannfilms 4 года назад

10:40 I love how the drone operator stops to avoid the birds hahah

@tonyjc1575 4 года назад

Seeing every major stock in a free fall was a trip. Makes me think that the current surge in price will be the biggest deadcat bounce we'll ever see in our lives as it will continue to plunge again. I don't see how the stimulus package will help at all on that front since we still haven't seen the worst of this virus.

@AA-ou9et 4 года назад

Three days of green. It's going to plummet next week...

@jadepenn7407 4 года назад

Been pondering this a lot as a new investor. The buy back makes you feel like your going to miss out but when you look at things it seems so irrational. How is the US spending their 2 trillion and how do people expect that to right the tanking ship?

@geor664 4 года назад

As of 28 Mar 2020, (in Oz) the SP500 looks like it's commencing the first leg down of a dead cat bounce. It went 3% down last night. This Monday coming in the US will prob be a bigger day down. Strap yourself in for the roller coaster ride down.

@Nobumblegumforyou 4 года назад

@@geor664 i concur. Shorted the sp500 at 2570 today.

@sinklar1224 4 года назад

With regards to the Sydney housing market, we have had the same in NZ. Especially in Wellington and Auckland the house prices have been skyrocketing, seeing a massive appreciation in the past decade and a half. We also had a very shallow recession and it will be very interesting to see the outcome of this chapter in our history. Thanks for the video.

@sarcasmo57 4 года назад

Such good videos my dude.

@diogenescasares4294 4 года назад

EE: Doesn’t say Coronavirus to stop from being demonetized. Also EE: sHowS gUn

@chamalinni 4 года назад

And says "fuck" nonchalantly.

@Bobelponge123 4 года назад

Boots Jew did a black guy bully you at school lmao

@bettycooper369 4 года назад

Also because why would he mention it when he doesn't need to

@jp-hs8hu 4 года назад

EE: Let'a see, which video clip captures the chaos and agony of a financial DISASTER? What's this...."guy unhurriedly takes a tiny fire extinguisher from food pantry"? Hmm...That'll do.

@jerry1460 4 года назад

And this guy flying the drone at 10:36 got really lucky missing all the birds and obtaining some good footage

@c.armstrong2978 4 года назад

15:10 That's the EXACT definition in my Econ textbook!

@hotjigax 2 года назад

Love your super clear explanations EE! Could you please do one on SPECULATION and BUBBLES please?

@Minecraftiano1204 4 года назад

5:12 "A S T R OoOOoooO N G and prosperous commercial center"

@socracle2774 4 года назад

*sector

@havenmohi2039 4 года назад

Ssstttwronnngg

@kurumachikuroe442 4 года назад

I’m sure Walpole is behind this somehow

@victorcaldera249 4 года назад

I guess you’re an extra credits fan

@cosmoreverb3977 4 года назад

If only Bismarck were here. He'd have a plan. He always has a plan.

@Torus2112 4 года назад

@@cosmoreverb3977 WWBD

@CheesemanXCV 4 года назад

Kurumachi Kuroe you did the boat tour too, huh? I love that guy!

@walpol3 4 года назад

Possibly

@jacobbyers7914 4 года назад

"Lemme tell you about this housing market. Most houses within driving distance of the CBD being sold for well over a million AUD." *Laughs in San Francisco*

@wackojacko4580 3 года назад

fine your more boned than Sydney siders is that what you wanted to here?

@TheOpenSourceMerc 3 года назад

Eating more 💩 is not any more fun then eating 💩 since it's still 💩

@mafiousbj 4 года назад

"Money Printer Go!" Basically the whole economic plan of Argentina for the last 8-10 years. Outbreak? Puff....we are used to this ^^ (and it has been kind of a miracle for the new government since they haven't said a thing about economic policy after 100 days of taking power)

@cefalopodo5717 4 года назад

Impresora de pesitos go brrrrrrrrr

@MrBrick20000 4 года назад

"I make fun of the country because I live here" Yeah that be Australia

@joelchoilatulippe1685 4 года назад

MrBrick20000 it’s going to hit you to

@JK-gu3tl 4 года назад

@@joelchoilatulippe1685 Austrialia has precious metals and is near East Asia ( who has high savings). They're not up to their eyeballs in debt like US.

@harisasif6781 4 года назад

@@JK-gu3tl Australian household debt is outrageous but yeah overall pretty much no one is screwed like the US

@KrishnaAdettiwar 4 года назад

@@JK-gu3tl USA debt is proportional to the size of its economy. that's why USA sees sustained and stable growth over long-term and has the most stable currency in the world (and also why it's the world currency). these things don't happen by accident lol the size of the economy is just so large that even 50% of the GDP in debt seems *massive* compared to other countries. I just looked it up and Japan has 224% of GDP debt, Singapore has 114%, France at 98.5%, Spain 96.7%, Canada 89.7%, UK 87.0%, the whole EU 86.8% and USA at 82.3%...in gross terms, yes USA debt is bigger since economy is massive. Looking at debt proportional to it's economy, it is definitely not as outrageous as it seems.

@alcatrazz.627 4 года назад

"Money printers go brrrrr" I love this channel.

@SirNyanPanda 4 года назад

That's a popular meme

@dann5480 4 года назад

@@SirNyanPanda he loves curry he wouldn't know.

@szym1 4 года назад

Good video. Thank you!

@jasonbarnett5556 2 года назад

Hey I've noticed in multiple videos that you reference previous videos from your channel but I am unable to find links to those previous videos in the description section. I really enjoy your videos and that would make it easier for me to back fill some information from the current video if those links were added. Thanks for sharing great content.