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The US debt crisis will become one of the biggest issues of our time, affecting not only those in the US but everyone around the world. In this episode we explore the mechanisms of a default, the causes and solutions.
How the 2008 crisis still affects you: https://www.youtube.com/watch?v=U1dpWiZoiJU
Show notes: https://docs.google.com/document/u/1/d/1B6-shY_jJG62dAXiXVIrcgrA13oU1DSa05ZJVjUx9nU/edit?usp=sharing
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Producer: Dagogo Altraide, Tawsif Akkas
Writers: Dagogo Altraide, Tomás de Castro
Editors: Brayden Laffrey
Animation: Tawsif Akkas
Motion Graphics: Mathijs Luijten
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Probably the best solution would be to finally tax the large corporations and the banks, but obviously that will never happen.
I love how we talk about "printing money". "Fiscal stimulus" etc… When really it's systematic stealing from the masses. Putting their problems on all of us.
If you want to understand why the US will never default on its debt, you can do an experiment. Go to a bar and find the biggest guy you can, he'll need to be at least twice your weight and a competitive body builder, with two back belts. Now, for this experiment you'll need to walk up behind him and pour a beer on his head. When he turns around angrily, you'll put our your hand and say "give me one hundred dollars!" In this experiment, you're the bond holders, and the angry giant is the US military. Let me know how successful you are at getting his money…
Plenty of money to send to Israel
He once talked about the book Forbidden Laws of Wealth by Victor Hayes and can’t believe how underrated it is. The insights in this book are game-changing definitely deserves more attention!
What if the US just cancelled the debt? Yes, the markets would crash and it would be crazy for a couple years, but $35T is wiped off the books.
I wish he adjusted the amount according to inflation at the beginning, it doesn't mean much compare like that.
The pre-trump stimulus was for banks (bailouts) not direct payment to citizens. No world wars, yet the US is still funding wars somehow.
There is only 1 outcome. Debt must grow exponentially, it's how the system was designed to function. By 2030 the US debt will be around 100 trillion dollars. If interest rates still go up from here its US government bankruptcy, if taxes go up from here its over for the US middle class. If energy/oil costs go up from here its over for the global economy. If interest rates go to ZERO and the US gov borrows again at zero to monetize debt, then it's over for the USD. There's no way out from here, were going petal to the metal into the wall. Central bank Gold revaluation is the only way to Reset the debt and put an end to the system.
FDR signed an executive order making everyone that a US citizen is now collateral to the federal reserve system. This is why we are required to have birth certificates and are forced to pay taxes. We're all considered corporations because of the capital letters that our name is in on all of our legal documents. This is why we are required to pay taxes. Our nation,every state, county and city are all corporations. It's all about generating revenue like when a policeman stops you. He's not there for your safety but to generate revenue, just like when you have to go to court. It's all about the money. We're not under constitutional law We're under the law of money. Admirality Law.
The largest economy makes the rules, so good luck to the rest of the world…
Hook or by crook, either citizens pay or the investors pay
You talk a lot and say nothing. What exactly is the US wasting money on? Who defines waste? What would you cut?
The fact is that the US does not plan to pay its debts.
The United States is funding the Israel and Ukraines war.
There is another much more plausible move that the US could make(to maintain its hegemony)….Trigger a world war.
Normal people and countries all around the world will end up with huge losses and physical damage.
People get drafted to the Armed forces which will pay them handsomely but there won't be any spending. Parallely manufacturing facilities will be set up at a scale never seen before. All the while the Elite maintains their wealth because they manufacture the weapons and enable the war.
Once the war is over, there playbook after the 2nd war will play out….People with money they earned during the war. Infrastructures that need rebuilding and new technologies that will propel the next economic and global boom
My advice, buy hard assets, don't panic, be kind to your neighbors…cycles come and go. Believe in the human spirit and show compassion.
Rome didn't fall in a day
Everything ends, american empire will collapse!
😂😂 Would ❤ to see a Politician turn to accountant and then go to Debt Counciling. In the meantime time trade bonds and wait for the markets to crash. But not just yet… when it happens it will be quick just like the GFV and COVID. Good explainer videos Dagogo. Enjoyed it.
Way out: global war. Military bases. Conquest for human rights. 😁
Don't take economic advice from youtube. Debt isn't even in the top ten issues.
Great info.
9min (over 40% of the total runtime) and all you’ve done is repeat the same thesis 5 different ways without much significant insight
Issue is our whole world economy is debt and "growth"
In the old times israelis had debt relief every 25 years or so. Resetting everything. Lands, debts etc.
One word: Bitcoin.
That is why BTC will succeed
Bitcoin solves this
but theres always money to fund wars
Money expansion or debt expansion in line with real GDP growth is accommodative as demand claims or money is in line with supply growth but deficits expanding at 6-7% faster than the economy means each unit of fiat USD is a shrinking demand claim on US domestic supply outputs. The event horizon is here.
BRICS should rise and this WHITEWEST SUPREMACY must fall
Of course cost of living goes up with democrats are in office,duh!🤬
End all military aid and shirk the global military footprint
2:26 as good as it sounds, the problem of all your data out there isn't going to be solved by giving your data to yet another for–profit company. Instead focus on limiting what data you give away and to who. And vote for people willing to increase privacy protections.
I think this means WW3
Hello I came from the future….US is doomed and China is the new economic superpower.
We better start learning to speak mandarin (Putonghua)
It’s not “could” it’s when and how. Ever hear of 2008? Ya think that could’ve affect people or did…
Buy Bitcoin. Put it on a hardware wallet. Rinse and repeat. Ignore the noise.
“The Illusion of Scarcity” or “The Debt Mirage”. Both highlight the idea that the limitations or financial constraints often cited by governments are, in reality, artificial or exaggerated, as they can print money for crises or war but choose not to address long-standing domestic issues like reparations, inner-city schools, or homelessness. It suggests that the claims of economic hardship are a smokescreen to avoid addressing deeper, systemic issues.
Just think, only 1 of your 5 carrier groups in the Atlantic are in service because you cannot afford to run all 5 at once and had to borrow one of the carrier groups from the Pacific fleets to help cover the middle east.
I like how it’s mentioned that the fed wastes 247billion per year and now we are pretending like things may change in future 👀
Hiking taxes would hurt the tax payer than many seem. We need a more open economy. With the government cutting all spending and have a do nothing government with a public reliance fund.
It will 100% inflate it away, it's the only way
This video fundamentally misunderstands how the Federal Government funds itself. The Federal Government does not operate in the same way as a business or a household. As the issuer of our currency, it does not use "taxpayer money" to fund itself. Congress authorizes spending for whatever it wants, and the treasury uses computer keystrokes to credit the account of whoever is receiving the funding. There is no limit to the number of dollars they can create, however, there is a limit to the goods and services that are available for purchase. Too much government spending can cause inflation.
State and local governments DO have to GET THE MONEY. They are users of the currency, just like you and me. See the distinction?
As for the "National Debt", it's simply an accounting of how much the government has spent into the non-government economy (that's you and me), verses what it has subtracted out through taxes.