The National Debt: Last Week Tonight with John Oliver (HBO)

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The national debt has long been portrayed as a burden we’re placing on future generations. John Oliver discusses how national debt works, why people are so concerned about it, and why it might be more helpful that you think.

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Kommentaarid

  1. Sultschiem
    Sultschiem
    9 tundi tagasi

    Uber is a terrible example.... Uber does not make money at all, its a scam. It only continues because it keeps getting new investment. The purpose of uber is to destroy and replace the taxi industry and get rid of regulations and unions that way. After that is done, they would price it like taxis do....

    1. Sultschiem
      Sultschiem
      Tund tagasi

      @seigeenginehow about you inform yourself a bit, before insulting others?

    2. seigeengine
      seigeengine
      2 tundi tagasi

      @Sultschiem I'm aware uber isn't profitable. The issue is that that doesn't require some giant conspiracy. You've just added one in because... you're an idiot I guess?

    3. Sultschiem
      Sultschiem
      2 tundi tagasi

      @seigeengine its not a conspiracy at all. Find out ubers business model and if its profitable.

    4. seigeengine
      seigeengine
      2 tundi tagasi

      Yeah... that seems like a lot of conspiracy for something I don't buy any motive for.

  2. Michieliosi
    Michieliosi
    13 tundi tagasi

    The fact that John Oliver said 'I don't know' why we are seeing low interest makes this clip totally useless

  3. Dave Whittle
    Dave Whittle
    Päev tagasi

    Currency colapse is slow motion these days, go do your show in latin america,. and 7 percent on mortgage rates. its not racism its just open border euro doctrine. we're fucked so you should be 2. sod resposible measurement hey mate. get me a sheila and a talk show. couldnt make them liberal either. John Oliver on the sceen explaining argetinas13 default like its candy.

  4. Cameron Crowley
    Cameron Crowley
    2 päeva tagasi

    Sorry I fell asleep.. what did I miss?

  5. Dimitris Efstathiadis
    Dimitris Efstathiadis
    2 päeva tagasi

    God these republicans are like the plague. The more you know the more frightening they are. Why are you freaking keep voting them?

  6. Douglas Wong
    Douglas Wong
    2 päeva tagasi

    The economist is telling American to borrow money for going into war?

  7. David Reed
    David Reed
    3 päeva tagasi

    cool. now do the same thing with climate change.

  8. ralphinator2
    ralphinator2
    4 päeva tagasi

    Reminder that if Gore had taken the office he won in 2000, the Iraq invasion would never happen and the national debt would be completely paid off by now instead of approaching 30 Trillion.

  9. NAVY EMANI
    NAVY EMANI
    4 päeva tagasi

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      14 tundi tagasi

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      3 päeva tagasi

      I'm not here to converse for her but to testify just for what I'm sure of,,

  10. ankush akash
    ankush akash
    4 päeva tagasi

    Typical 1st world problem

  11. Shubham Banerjee
    Shubham Banerjee
    4 päeva tagasi

    But debt is a problem

  12. c f
    c f
    5 päeva tagasi

    no

  13. Naveen Silva
    Naveen Silva
    5 päeva tagasi

    I always try to listen to both sides, but I just physically can't when Sarah Palin is talking

  14. UrpleSquirrel
    UrpleSquirrel
    6 päeva tagasi

    A video about the National Debt, that has nothing to do with personal debt: exists. Spambots: It's free real estate.

    1. seigeengine
      seigeengine
      5 päeva tagasi

      furreal.

  15. Katelynne Hansen
    Katelynne Hansen
    6 päeva tagasi

    No one knows why interest rates are low? How? Money is all a man-made game; someone has to be making the rules. It’s not like an economy is some sentient being that just does what it wants while we observe in bewilderment “oh no, it’s inflating!” Some humans are consciously controlling the interest rates.

    1. Katelynne Hansen
      Katelynne Hansen
      6 päeva tagasi

      @seigeengine tone is hard to read over text, but it’s more than a small stretch to take my bemused and slightly sarcastic comment as arrogant or aggressive. You’re a bit of a prat; it’s cool. Not everyone is a pleasant human. Take pride in knowing the ins and outs of the man-made system to which we are all beholden and which is dooming our entire planet.

    2. seigeengine
      seigeengine
      6 päeva tagasi

      @Katelynne Hansen I was pointing out a common shared human fallibility, not insinuating an abnormal social deficit. If you don't want arrogance and aggression, perhaps you shouldn't come across as arrogant and aggressive when expressing ideas about subjects you even admit you know nothing about. You were not simply asking; you were making claims and arrogantly dismissing things said by others. If you want me to be compassionate and respectful, you need to warrant it. You do not inherently deserve these things regardless of your behaviour, and I have already shown you the kindness of explaining the matter to you.

    3. Katelynne Hansen
      Katelynne Hansen
      6 päeva tagasi

      @seigeengine 😂 I’m the one that struggles with social interactions? I was legitimately asking a question because I didn’t get it (economics are one of the few subjects I’ve never understood or been interested in) and you actually have a really good answer. Are you incapable of toning down your aggression or arrogance? Because I highly doubt that it’s ever benefited your interactions.

    4. seigeengine
      seigeengine
      6 päeva tagasi

      Yes, because understanding the aggregate behaviour of eight billion humans is hard. So is social interaction, but I bet you've had plenty of failures there too. Again, no. The problem is that there are a huge numbers of entities that are all acting in the market, and we're just looking at specific aggregate results. Interest rates can be manipulated lower, but only to so much of an extent. The core of this issue is that interest rates are repayment on that debt sold. The higher the rate, the more profitable owning the debt is. You can lower the rates, but only until people stop deciding to purchase the debt. If people stop buying, you'd increase interest rates to incentivize them to purchase that debt, but if people no longer trust in good repayment, they might not buy regardless of the rates. So the question is essentially "why are people still buying debt when the return is so persistently low?" And the answer is "we don't really know," because knowing why massive numbers of people do things is hard. A single human is a monstrously complex machine on it's own.

  16. Tim Uren
    Tim Uren
    7 päeva tagasi

    heres the thing, if you want your money to have value, you have to act as though it has value and that means repaying money you owe to other people.

    1. seigeengine
      seigeengine
      6 päeva tagasi

      ... Do you just not understand how the US debt works, or...?

  17. Daniel rogers
    Daniel rogers
    8 päeva tagasi

    Republicans love their propaganda

  18. Not_My_Name
    Not_My_Name
    10 päeva tagasi

    Just a quick anecdote about Obama. He killed US citizens without due process. You know, just like Putin has tired to do.

    1. Vapid
      Vapid
      8 päeva tagasi

      just a quick fact, nobody liked obama except for how he looked, man was hot but rather immoral.

    2. seigeengine
      seigeengine
      10 päeva tagasi

      He ordered an airstrike on an Al-Qaeda leader in Yemen who was also an American citizen, yes.

  19. Adam Fraser
    Adam Fraser
    11 päeva tagasi

    This video seems to take the opposite position of republicans basically thinking "DEBT GOOD" and ends up coming off just as dumb and uninformed

    1. seigeengine
      seigeengine
      11 päeva tagasi

      It does not, meaning you just come across as a loser who couldn't be bothered to pay attention.

  20. Haden Hunt
    Haden Hunt
    12 päeva tagasi

    Its not a good investment when the government has to pay almost half a trillion dollars a year servicing the interest on the debt. This is money that could be used to pay for afordable healthcare or inveating in green energy.

    1. Adam Fraser
      Adam Fraser
      11 päeva tagasi

      @seigeengine they did - your sincerely an economics MSc

    2. seigeengine
      seigeengine
      12 päeva tagasi

      You can't be stupid enough to think you just made a decent point.

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  37. Stonehouse Guitars
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    13 päeva tagasi

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    1. Stonehouse Guitars
      Stonehouse Guitars
      12 päeva tagasi

      @seigeengine Right. But on the one hand, John is trying to explain to all of us like we are 5-year-olds how debt isn't something to be concerned about and is actually a good thing in some ways, and how more spending is the key to a better future, but on the other hand, everything he's telling me and explaining to me just proves exactly what he's trying to persuade you against. It's a giant false antithesis.

    2. seigeengine
      seigeengine
      12 päeva tagasi

      The key is that "goes back into the corporations pockets anyway" part. If you don't do that, the money can go to fund things that lead to real growth, increased prosperity, etc. That growth then leads to more tax revenue that funds those debt obligations. The key then is to figure out which politicians are doing what, why, and what the effects of that are in reality. The government isn't a monolith. Politicians are not all the same. Don't get propagandized into apathy.

  38. Javier Montes
    Javier Montes
    13 päeva tagasi

    This is my real News.

  39. Doug Hannon
    Doug Hannon
    16 päeva tagasi

    Considering how often John Oliver talks about important programs being underfunded, this may be the most ironic segment he's ever run.

  40. KARL HEATON
    KARL HEATON
    16 päeva tagasi

    Oh believe me America will weep tears of blood once it's debts are called in and the dollar goes down the tubes. Both parties bankrupted the us. Now THERE'S something Americans can be bipartisan about. A pox on both houses.

    1. seigeengine
      seigeengine
      16 päeva tagasi

      Real shame you can't "call in" these kinds of debts. But I guess we shouldn't expect you to know shit.

  41. Influence08
    Influence08
    16 päeva tagasi

    Making fun of virtue... NOW I remember why I stopped watching this moron.

    1. seigeengine
      seigeengine
      16 päeva tagasi

      ???

  42. DestinationD
    DestinationD
    16 päeva tagasi

    I'm not saying I disagree or that anything's wrong with this opinion. All I'm saying is it's a little biased and simplified. Dumbed down, I daresay. Sounds a wee bit like Russian media explaining things. I would know. I'm Russian.

    1. Shirt Dirt
      Shirt Dirt
      16 päeva tagasi

      Not surprising. US liberal/democrats are basically communists. Russian communists.

  43. Xenos Breed
    Xenos Breed
    18 päeva tagasi

    'Mama, why doesn't America have any broadband internet, unleaded water, roads, or hospitals' 'Ah hunny, cause America wisely decided not to put YOU in debt by borrowing money for critical infrastructure, you're welcome' 'Is that why America is decades behind the developed world?' 'I SAID... YOU ARE WELCOME'

  44. Ostathis
    Ostathis
    19 päeva tagasi

    The crisis of Greece was one of the BANKS. Also at that time our (BANKS) national debt was 250 billion. Billion. Greece was No1 in the world in home ownership and we were allready working above the 8 hour/day cap. The difference is that we are a small country and we dont steal or attack other nations so no one is afraid of us. Most countries inthe world are like Greece and not like USA. That's a bullshit analysis you got here. For example the bonds you are so fond of have 0 value if your "investors" ask the money.. We also have bonds and guess what.. My microwave has more value than those now, they mean nothing. No one will ask money of USA though will they? You bombed for way less than that.. You bombed for no reason actually. Imagine if.. Stop bullshiting the people. All empires eventually fall. You will be no exception. You are the laughingstock of all other nations, stop making idiots of your citizens.

  45. M House
    M House
    19 päeva tagasi

    Biggest lesson: modern Republicans loooooove cutting the budget just before going to war... so that they can make maximum profits when using our military--and its ever rising budget--to exploit volatile tensions in vulnerable countries

  46. Kirei Schonbeau
    Kirei Schonbeau
    19 päeva tagasi

    I like that people can be so quick to say, "WHAT ABOUT THE CHILDREN??" for the national debt, but will shrug at climate change. So backwards.

  47. Robert Coffey
    Robert Coffey
    19 päeva tagasi

    Oh, fuck me. I'd forgotten exactly how much I hated Sarah Palin. At least she's not in that position anymore. Now we just have Lauren Boebert instead, which is not an improvement.

  48. Lex Slate
    Lex Slate
    19 päeva tagasi

    Nonprofessional but also at least somewhat formally trained economist here! Good piece. I want to emphasize that the important thing about debt is to do something useful with it, provided you are spending on things that are good investments that pay off in the long term, you're fine. The money that went in to stock buybacks was basically just fired in to the sun, but spending on infrastructure and well-designed social programs is usually a good move. Frankly, failing to spend on some things incurs a sort of infrastructural debt that can incur some painful costs in the future. And unlike bonds sold to foreign countries, ecological debts can come due in disastrous ways. Hello melted Portland.

    1. seigeengine
      seigeengine
      18 päeva tagasi

      Exactly.

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    inter modus
    19 päeva tagasi

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    1. inter modus
      inter modus
      19 päeva tagasi

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    Blood is frightening
    19 päeva tagasi

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    Gregory Bogosian
    20 päeva tagasi

    The debt actually is a bad thing for future generations all other things remaining equal. Its something that James Buchanan (The author of The Calculus of Consent) came up with. Imagine two scenarios: 1. The government sell bonds to finance a new bridge. Generation 1. Buys the bonds. Generation 1. Sacrifices present consumption to get the bonds as assets and the accompanying interest payments. Generation 1 wills the bonds to generation 2. Generation 2 has to pay back the principle of those bonds. But they are the ones who receive that principle when they pay it back. So, Generation 2 doesn't actually have to give up any consumption, because they inherit the debt as an obligation. But, they also inherit the bonds as an asset. 2. The government sells the same bonds for the same amount of money to build the same bridge. Generation 1. sacrifices present consumption to get the bonds and accompanying interest payments. But now, Generation 1 sells the bonds to generation 2 instead of willing those bonds to generation 2. So then, generation 2 still gets the bonds as an asset and the debt as an obligation. But now, they lose the cash that they spent on those bonds. So then, generation 2 really does lose out on consumption because consumption gets transferred to their parents, generation 1. www.econlib.org/library/Columns/y2015/Murphywardebt.html When the debt to GDP ratio gets too high, economic growth tends to decline. www.mercatus.org/publications/government-spending/debt-and-growth-decade-studies So, the real world, looks more like scenario 2, where generation 1 sells the bonds to generation 2, and thereby reduces generation 2's consumption. Granted, America has not become Greece. But, it is a little bit low its historical trend line of growth. bfi.uchicago.edu/insight/chart/u-s-real-gdp-per-capita-1900-2017-current-economy-vs-historical-trendline/ Like you said, One of those programs that you said we keep raising the debt to pay for is medicare, healthcare for the elderly. The U.S. spends more money on healthcare than other countries do, and does not have a longer lived population.abcnews.go.com/Health/us-spends-health-care-countries-fare-study/story?id=53710650 So, going further into debt to pay for more healthcare, is not a solid plan for America. 16:30 I don't know for a fact. But I think that its the U.S. controls the world's reserve currency. When everyone else uses your money to back up their money, you can print more of it, and drive down global interest rates that way, along with the global savings glut caused by Germany and China. (Barry Eichengreen, Exorbitant Privilege). www.brookings.edu/blog/ben-bernanke/2015/04/01/why-are-interest-rates-so-low-part-3-the-global-savings-glut/ Economists actually do have some ideas about this. But really, we should all be thinking less like economists and more like risk analysts, like Nassim Taleb would say. The benefits of a rising debt are uncertain. The probability of further debt triggering a financial crisis are unknown. But it is more than zero. If it does happen, the costs will be massive, and we don't know what the limit on those costs are. So we should be worried about the debt, just based on the precautionary principle.

    1. Gregory Bogosian
      Gregory Bogosian
      19 päeva tagasi

      @seigeengine The point is that nothing I said requires the purchase price of bonds to evaporate into the ether, and that more government debt really does reduce the consumption possibilities of future generations all other things remaining equal.

    2. seigeengine
      seigeengine
      19 päeva tagasi

      @Gregory Bogosian And? So what?

    3. Gregory Bogosian
      Gregory Bogosian
      19 päeva tagasi

      @seigeengine I am not claiming that the purchase price of bonds evaporates into the ether. I am claiming that selling it to gen 2 transfers cash, and therefore consumption, to gen 1 from gen 2. None of this requires the cash to disappear. It just requires it to be used to purchase consumption goods that gen 1 consumes instead of gen 2.

    4. seigeengine
      seigeengine
      19 päeva tagasi

      @Gregory Bogosian Yeah, it doesn't seem complicated to me either: you're wrong. It seems now that you're trying to claim that the purchase price of the bonds evaporates into the ether.

    5. Gregory Bogosian
      Gregory Bogosian
      19 päeva tagasi

      @seigeengine No. The above reasoning applies even if Gen 2 pays exactly what the bonds are worth. If Gen 2 pays exactly what the bonds are worth, then acquiring the bonds doesn't change their net worth at all. But inheriting the debt does change their net worth, negatively. So they come out behind gen 1. In scenario 1, the effect of inheriting the bonds as assets off-sets the effect of inheriting the debt as a liability. That is not the case in scenario 2. Gen 1 sells the bonds because they would rather have cash now than in the future, because they will die soon. Gen 2 agrees to buy them because they would rather have cash in the future than cash now, because they have their entire lives ahead of them. Its not complicated. Not acquiring more debt does carry a cost and a risk. If you pay for additional expenditures through taxes rather than through deficit spending during a recession, then the taxes will cancel out the effect of the spending on aggregate demand. So you won't recover as fast, and will lose output that way. So its true that sometimes increasing your debt is justified. But in the long-term, acquiring more debt means higher interest rates all other things remaining equal, which means a narrower window of fiscal policy choices will be available to future generations to manage future recessions. So you still want your debt to go down long-term.

  53. Coyote Gamer
    Coyote Gamer
    21 päev tagasi

    Gov. Sarah Palin, what you're describing is not slavery it is indentured servitude, which again is not slavery.

    1. seigeengine
      seigeengine
      19 päeva tagasi

      Indentured servitude is broadly considered a form of slavery, mate. Apparently you didn't get the memo that slavery lite isn't not slavery.

  54. swordsimkid23
    swordsimkid23
    21 päev tagasi

    debt is literally a form of slavery

    1. seigeengine
      seigeengine
      18 päeva tagasi

      @swordsimkid23 That's neither a good description of slavery or debt. Since you need the help... Slavery is what you call it when a person is the property of another entity. Slaves may or may not possess property of their own, and may or may not have varying rights over that property or their person. Debt is what you call it when you owe an entity something; that is, you have received something without providing equal value in return. Being indebted does not prevent you from owning property, nor does it mean you are at risk of losing anything. And nobody would say borrowing your neighbour's lawnmower made you a slave.

    2. swordsimkid23
      swordsimkid23
      18 päeva tagasi

      @seigeengine haha well they certainly graded me back then, but anyways the difference between slavery and debt is between having nothing and constantly on the verge of losing everything. sounds like a strong incentive to do what's told ain't it?

    3. seigeengine
      seigeengine
      19 päeva tagasi

      @swordsimkid23 Sounds like you haven't been to grade school.

    4. swordsimkid23
      swordsimkid23
      19 päeva tagasi

      @seigeengine sounds like you havent been to college

    5. seigeengine
      seigeengine
      19 päeva tagasi

      No, it's at best metaphorically a form of slavery, and a messy one at that.

  55. QALibrary
    QALibrary
    21 päev tagasi

    You need to get Professor Mark Blyth on the show

  56. The Fire Dragon
    The Fire Dragon
    21 päev tagasi

    Borrowing money to invest in continuing services like education and healthcare isn't wise. Greece is mentioned as an example because they hit a point where nobody would lend them any more money. Forget the riots. When you hit the point where nobody will lend to you any longer your expensive education system will be closed schools and striking teachers. That is of no use to anyone. The reason to get out of deficit and get rid of the debt is to avoid hitting that point where the many systems being funded by the deficit will suddenly lose all funding. That is cataclysmic to a nation.

    1. seigeengine
      seigeengine
      19 päeva tagasi

      That's a really dumb take, pal. Might want to leave that one in the oven a little longer.

    2. Soft Maps
      Soft Maps
      21 päev tagasi

      Is it wise to spend 5000 times the combined amount of healthcare and education on something worthless like the military? We spend trillions just for bum soldiers to lay around all day on the taxpayers dime.

  57. mariorr308
    mariorr308
    22 päeva tagasi

    clown always stays a clown

  58. Tommy Nickels
    Tommy Nickels
    22 päeva tagasi

    What Oliver fails to point out is this: the 1% have tools in place to keep siphoning up the money so the more the governments creates, the more they siphon up. We are seeing the gap between the rich and the poor grow. In sum, increased debt increasingly is making life more and more difficult on poorer families.They are priced out of home ownership, for example.

    1. seigeengine
      seigeengine
      21 päev tagasi

      ​@Soft Maps No, not really. The problem is massive and has many causes. First of all, it's just more expensive to build housing now than it used to be. Over time standards and requirements for housing construction have gone up, which is a good thing, but it's a lot more expensive to build, for an extreme example, an air-tight insulated house than an uninsulated leaky wooden box. After that, regulation is a major factor. Zoning laws, building codes, rent restrictions, etc. all increase housing prices because they all make it more expensive to build new homes. Now, these may be desirable for other reasons, but increased housing costs are absolutely a consequence of them. Then there's things like tariffs. Whether it's the tariffs on Chinese steel, or tariffs on Canadian lumber, these all increase the costs of construction of new homes by raising the material prices. Now, again, you may desire those things for other reasons, but... prices go up anyway. That's a cost you are paying for those policies. On top of that, constructing new homes is an investment, and builders need to be confident they'll get a return. I wonder if there was a major economic crash not that long ago involving housing that might have made investors less confident in building housing in the long-term? Hmmm... And on top of that, low interest rates make debt cheap. Again, we can debate about that, but it has the consequence that, debt being cheap, more people are buying homes, and are willing to pay higher prices for them, driving prices up. Oh, and don't forget that population growth and increased urbanization are making real estate in desirable areas go up in price way more than it otherwise would in the areas most people then are also looking for homes. There are still cheap homes in America, but they're probably not somewhere you're interested in looking for one. Actually, that's pretty amusing, because we're living in the most remote work-based time in history, pretty much, meaning so many people now could work from practically anywhere. This is all talking about houses/homes/whatever, but remember that all this applies and affects the rental market too.

    2. Soft Maps
      Soft Maps
      21 päev tagasi

      Housing becoming unaffordable is caused by landlords and real estate megacorps.

    3. seigeengine
      seigeengine
      21 päev tagasi

      Yeah, that's not caused by debt, and using debt doesn't inherently harm the poor.

  59. the1onlynoob
    the1onlynoob
    22 päeva tagasi

    As the US army retreat from Afghanistan, it must be reminded that it cost Soviets 14 billion to occupy that place, while it cost the US 2.7 trillion over 20 years, that amounted to nothing in particular.

  60. Rob Schofield
    Rob Schofield
    23 päeva tagasi

    Superb!!!

  61. David Handley
    David Handley
    24 päeva tagasi

    America is finished. China will move in to take control.

    1. seigeengine
      seigeengine
      24 päeva tagasi

      lol no.

  62. Bigg Dubz
    Bigg Dubz
    24 päeva tagasi

    Eat your cereal 🥣

  63. Lost Pony
    Lost Pony
    25 päeva tagasi

    The golden retriever really makes the mob menacing.

  64. Lost Pony
    Lost Pony
    25 päeva tagasi

    You WOULD like Ted Cruz in a box in a sock with some locks tossed in a loch.

  65. Steven Jackson
    Steven Jackson
    25 päeva tagasi

    The humorous quince rhetorically last because eagle concurrently spark per a adaptable steel. unable, average helium

  66. Georgia Mendez
    Georgia Mendez
    26 päeva tagasi

    The crowded refrigerator immunophenotypically hope because cannon genetically suspect minus a cloistered file. gaping, unequaled liquor

  67. Brainreaver79
    Brainreaver79
    26 päeva tagasi

    in my opinion its easy to answer the question why nothing happened when the national debt reached a certain point... i mean america spends more on its defense budget than the next 25 countries in that list combined.... whos going to tell them they arent going to get more money?... the banking ceo with that much balls isnt born yet

  68. Rozanne Cucchiara
    Rozanne Cucchiara
    27 päeva tagasi

    The spurious shears jelly place because polo proximately pop toward a four frail okra. quick, immense team

  69. zohreh rostami
    zohreh rostami
    27 päeva tagasi

    We need politicians like you

  70. Rai
    Rai
    27 päeva tagasi

    One of those kid voice actors at the end had one the most aggressive voices I've ever heard. I hope they get more voice acting jobs in the future. *"That's not a clock!"* like you're a buffoon. A miserable imbecile. A hopeless ignoramus.

  71. J Mac
    J Mac
    29 päeva tagasi

    The I don't know part is the bit we should be worried about. Because nothing bad has happened yet doesn't mean something catastrophic can't happen in the future.

    1. seigeengine
      seigeengine
      23 päeva tagasi

      @Google Account Ultimately a faulty premise. That's basically exactly how businesses become successful; they spend money they don't have to grow faster than the cost of the spending. The trouble isn't money spent on the poor, or on infrastructure, or on any of these things that produce real growth. The trouble is money spent on things that don't. And isn't it funny how it's almost always the same people that spend money we don't have on things that don't produce real growth that complain about spending when it's on things that do.

    2. Google Account
      Google Account
      23 päeva tagasi

      No country has ever been able to print its self to prosperity. Inflation is the cost of the printing which adversely affects the poor who demand that the Government prints more to help them. It becomes a run away train. The Dollar will continue to lose as every new Dollar is printed.

    3. seigeengine
      seigeengine
      29 päeva tagasi

      @J Mac History shows that all civilizations fall, no matter what they do.

    4. J Mac
      J Mac
      29 päeva tagasi

      Well history does show any civilization that has debased their currency in the last 5000 years has failed. Not sure America's going to somehow change that. I think the issue is most people don't know the difference between money and currency there is a major difference

    5. seigeengine
      seigeengine
      29 päeva tagasi

      Yes, but it also means the fear-mongering you've been hearing was wrong. And if the fear-mongering you've been hearing keeps being wrong, maybe you should do less being afraid and more having a rethink.

  72. We say no to pay to win
    We say no to pay to win
    Місяць tagasi

    As always republicans claim to understand economics when in reality they barely understand supply and demand curves

  73. We say no to pay to win
    We say no to pay to win
    Місяць tagasi

    Brilliant Video

  74. PolarBearMama37
    PolarBearMama37
    Місяць tagasi

    People need to stop thinking of the national debt like a credit card debt, and think about it like a mortgage to buy a home; if I borrow this money, will I be left with an asset at the end of it? Run up 100k in credit cards by the time you are 30 and you're irresponsible. Have a 100k mortgage at the same age, and you're fiscally responsible for investing in your asset, and enabling you to make long-term savings by not paying rent.

  75. Zutraxi
    Zutraxi
    Місяць tagasi

    Whenever a republican started taking about debt, I started thinking about how they supported Trump while he just stacked up debt. Self serving and short sighted cockroaches

    1. ralphinator2
      ralphinator2
      4 päeva tagasi

      Trump even told them in advance of his election that he was the "king of debt" and they all said what a smart businessman he was!

  76. Mark Russell
    Mark Russell
    Місяць tagasi

    Debt’s not necessarily a bad thing…if you can pay it off. I could get a loan for a house, but if I can’t pay it, well…I lose the house.

    1. seigeengine
      seigeengine
      21 päev tagasi

      @Mark Russell "wut do u meen swnd handling, if it wuzx handfled badly tings woiuld go wong!!!!!11!!1"

    2. Mark Russell
      Mark Russell
      21 päev tagasi

      @seigeengine Define “sound handling”. If interest rates rise even a few percentage points, all the false liquidity would come to a crashing halt - deflation is today’s central bankers worst nightmare. Think of how perverse that is - keeping the purchasing power of the dollar down. How does that help people trying to save money?

    3. seigeengine
      seigeengine
      21 päev tagasi

      @Mark Russell No. Even if the price of the debt went up significantly, it would be manageable with sound handling. Which is really the problem. Half the country are outright traitors whose every act is sabotage.

    4. Mark Russell
      Mark Russell
      21 päev tagasi

      @seigeengine The only way to keep the debt from exploding is to suppress interest rates. A swell plan. But “in the end we’re all dead”, is that right? How long can they stay near zero? How about negative interest rates? Keynesian economics are literally distorting reality to the point of madness. MMT is that but on steroids, it’s fantastical bullshit. Don’t drink the kool aid.

    5. seigeengine
      seigeengine
      21 päev tagasi

      @Mark Russell Ah, yes, because the government goes and has a sit down at it's local branch office to discuss the terms of a loan. That's how that works.

  77. Kaisar Dragon
    Kaisar Dragon
    Місяць tagasi

    Republicans are always oddly quiet about the debt when they are in charge raising it. History has shown that the national debt keeps raising under GOP. They all need to shut the hell up.

    1. seigeengine
      seigeengine
      Місяць tagasi

      Yep. Things are fine, someone on the right gets in power, screws it up and blows the bank on things like blowing people up and paying off the rich. Everything is on fire, someone on the left gets in power, has to spend a ton putting the fire out, get obstructed constantly by the right.

  78. Quagthistle
    Quagthistle
    Місяць tagasi

    Wow, where were all these Republicans when Trump was giving tax cuts out to the rich like lollipops and bombing the daylights out of Yemen? Oh right, they ONLY care about national debt when a Democrat is president and tries to give some crumbs to the poor. -.-

  79. Luke Perisin
    Luke Perisin
    Місяць tagasi

    This is left-wing propaganda. No, J.O. it’s not ok to ramp the national debt up endlessly.

    1. seigeengine
      seigeengine
      Місяць tagasi

      It's like you think anyone doesn't know at this point that America is stuck in a pattern of the right blowing strong economies by giving tax breaks to the rich and literally blowing up anyone they can make an excuse to, and then the left walking into massive crises caused by the right and having to spend a ton of money to get things back in order, only for the right to do it again. At this point you're basically just traitors. There's no plausible defense for the American right to exist.

  80. Bobi Markers
    Bobi Markers
    Місяць tagasi

    I like how some people (Oliver) think that you can tax the rich. 🐒 You can only really tax the middle class, but that is something they do not tell you.

    1. seigeengine
      seigeengine
      Місяць tagasi

      You can 100% tax the rich. Rich people aren't magical, and the propaganda you've been fed by the rich to the contrary is just you being played.

  81. potaterjim
    potaterjim
    Місяць tagasi

    "won't somebody think of the children!?" *Reporting from the center of a historic heat wave, which came after a historic snowfall in Texas, both of which were clearly the result of climate change* "....I mean *my* children."

  82. Watch theWatcher
    Watch theWatcher
    Місяць tagasi

    Love you. Stop showing images of China with Tibet (a country with a government in exile) snuggled right up next to it like genocide never happened.

  83. Homer Hiers
    Homer Hiers
    Місяць tagasi

    "We don't really know what's going on" is a terrible thing to state about an economy. It means it is unpredictable. This is one of your worst takes John

    1. seigeengine
      seigeengine
      Місяць tagasi

      "Don't state facts when the facts don't make me feel comfortable! I only want the pretty lies!"

  84. Patrick Doyle
    Patrick Doyle
    Місяць tagasi

    I'm just getting into this, but I'm looking forward to hearing a guy like John Oliver's take on it...To get a sense of the immensity of what 28 trillion is, 28 trillion seconds equals about 887,266 years. With that out of the way, it's time to have a laugh or two at the econo financial illiteracy that is this channel.

    1. seigeengine
      seigeengine
      Місяць tagasi

      @Patrick Doyle 1) When your criticism of something amounted to an emotional appeal about big numbers, you already lost my respect. When you started screeching tangentially about political opponents you lost my remaining civility. Attempting to lie and misdirect now won't save you. You've already outed yourself. 2) I'm also not American. Fascists are fascists. False equivalence is fascist propaganda. Misdirection will not save you. You've already outed yourself. 3) At least you've changed your BS up to condescension and straw men. 5) Yes, I do, but you don't get my effort after you demonstrate bad faith. Have a bad life, fascist and coward.

    2. Patrick Doyle
      Patrick Doyle
      Місяць tagasi

      @seigeengine Oh wow. I'm sorry I missed your reply. For some reason I wasn't notified of it. Anyway, to the response. 1) In my long life, I've observed that people who are more polite to their "opponent" in a debate tend to have the better arguments. It's not inevitable, but frequently the case. With that said, in my reply to you I wished you a great day....You called me a fascist. This is based on some apparent combination of: ignorance about me, ignorance about fascism. The most you might conclude from my comment is that I'm nervous about debt. That's hardly fascist, given that fascists have a very crude understanding of macroeconomics and LOVE debt. Also, I've heard people like Christopher Hitchens, Cornell West, Chris Hedges take Clinton to task for vivisecting welfare in the 90s. Are they fascists too in your mind? Are they bereft of points? Do you believe the definition of the word "fascist" is "anyone who says something seigengine doesn't happen to like?" For my part, I don't think it's helpful if we can't criticize members of "our side" because we assume that we're somehow more virtuous than the other side. 2) For the record, I'm not even an American and so don't identify along the red v blue camps. I consider that to be a distraction, and I think both republicans and democrats are equally guilty. I don't have a preferred tribe in that regard. So I think George Bush Jnr. was an economic disaster. I think Obama was incredibly soft on Wall Street, especially when compared to the reaction to the S&L crisis. Off the top of my head, the Holder DOJ failed to prosecute when they discovered that HSBC laundered ~$750 million for the Sinaloa Drug cartel. You can love democrats and hate republicans if you like, but that specific thing is indefensible. I say a pox on both their houses because the republicans are hypocrites and the democrats have sold out the American working class. If you think feeling that way makes me fascist, I'll suggest to you that you have a very very eccentric view of what a fascist is. 3) My comments about debt may sound like nonsense to someone who knows nothing about the structure of government debt. The United States may have more "room" to grow debt given that the US dollar remains the reserve currency. Because non-Americans demand it, that allows a rather profligate US to borrow proportionally more than, say, Iceland could. When I said that a new unit of debt has diminishing returns, I'm trying to point out that Oliver is only partly correct when he says there's potentially "good" debt. There certainly is, but as the debt piles on, we get less and less for it. I hope that clears up your misunderstanding about what I was saying. 4) For the record, I think high levels of corporate debt are far more risky at the moment. I think the fact that public companies can take on debt to buy back stock is a travesty, and I blame both republican and democrat law makers for it. 5) I have a real interest in this stuff, and I'm fascinated by the idea that "Obama's policies" sped the recovery. Do you have sources for that? I know it sounds like I'm goading you or trying to "take you down" in an internet debate, but I'm not. I'm legitimately asking for sources that suggest that macro policy during the Obama admin. helped and the recovery happened faster than it otherwise would have done. Once again, take care and have a great day.

    3. seigeengine
      seigeengine
      Місяць tagasi

      ​@Patrick Doyle Why are you rambling about President Clinton and welfare reform? Oh, because you're just a fascist taking shots at Democrats, and have no actual point. Right. And about the same with Obama. You make a statement so vague it's basically a non-statement, ignore that Obama's policy decisions have been found to have sped up the recovery, and try to cover for your shit flinging with a token black quotation. Yeah, it's almost like all the debt spending has been either right-wing policy or responses to crises. You follow that up with literal nonsense; just a collection of phrases that in no way logically interact with each other. Basically "I caught a trout therefor stars are really glitter on the ceiling, and the body buried in my backyard isn't my fault." "If you're interested, go do the work I'm supposed to be doing to prove that my perspective has any value." No. Put up or have some scrap of integrity and admit you're wrong.

    4. Patrick Doyle
      Patrick Doyle
      Місяць tagasi

      @seigeengine You're right, it wasn't. I've watched it, and now realise how stupidly biased it is. For instance, Clinton was described as a guy who balanced budget and not the guy who gutted welfare because he's on the right team. Obama inherited a situation and policy decisions made during that presidency delayed the recovery (some would say that the recovery never happened). But there was no mention of Obama's relationship with Wall Street. To quote Cornell West, Obama was Wall Street's black mascot. That relationship had very serious economic consequences, too. So, as usual, this is more politically biased nonsense that you get on Fox, CNN etc. Less designed to inform and more designed to screech partisan talking points that do your citizens very little good. We're getting fewer units of GDP per unit of debt, and have been for some time now. If we look at debt in a global context, we'd see that both republican talking points (we're not stealing from kids, so stop saying we are) and democrat talking points (stop lying that you're spending on 'infrastructure.' It's not infrastructure) are unhelpful at best. We'd also see that you do encounter problems as you pile on more debt. It's not an easy question, though. For instance, I think the dollar's status as reserve currency makes the US an outlier, and therefore the experiences of Greece, Japan etc. may be less relevant. If you're sincerely interested in understanding it, you should check out Lacy Hunt, Jeff Snider on this stuff. If you're less interested in macroeconomics and just want some warmed over talking points to bash "the other side", then feel free to use all the tripe found in this video. You'll be ignorant AF, but you'll express that ignorance with an admirable dramatic flair, and people love to see that. Have a great day.

    5. seigeengine
      seigeengine
      Місяць tagasi

      "Number big, you dumb, nyeh nyeh." Was that really the best you could do, Pat?

  85. Rob R
    Rob R
    Місяць tagasi

    The sad thing about this is that the target audience already knows this stuff. Republicans don't watch this show. I wish they would.

    1. JS
      JS
      Місяць tagasi

      Yeah I've never understood why Republicans hate this guy some much. Its not like he doesn't go after democrat's when they make braindead decisions.

  86. florencia paola
    florencia paola
    Місяць tagasi

    The illegal step-daughter secondly cycle because club spatially murder amid a courageous fibre. hanging, joyous dorothy

  87. Ng Yee Tat
    Ng Yee Tat
    Місяць tagasi

    I am sure the US is special. The debt don’t matter. No need to worry about it. By all means listen to this liberal saying everything is a-okay. The US is invincible! Lol

    1. Ng Yee Tat
      Ng Yee Tat
      Місяць tagasi

      @seigeengine Any business that is constantly running on deficit with a 1 billion dollar debt would have been bankrupted already. The US government is running close to a trillion dollar deficit year on year with a 28 trillion dollar debt. Tell me that is normal and sustainable

    2. seigeengine
      seigeengine
      Місяць tagasi

      @Ng Yee Tat Which is correct, or are you unaware that businesses finance themselves with loans to maximize growth with finite capital?

    3. Ng Yee Tat
      Ng Yee Tat
      Місяць tagasi

      @seigeengine That idiot basically says Biden can spend as if the debt don’t matter so long the spending "pays off in the future". In America, the Americans seem to think they are all special and debt don’t matter at all. Lol

    4. seigeengine
      seigeengine
      Місяць tagasi

      That's not at all what he said. Maybe you should try paying attention next time.

  88. jesuriv1
    jesuriv1
    Місяць tagasi

    Borrow, borrow, borrow today, be in debt tomorrow

  89. Snake Plissken
    Snake Plissken
    Місяць tagasi

    Don't worry America, basic economic principles don't apply to us. We'll solve it with MAGIC!

    1. seigeengine
      seigeengine
      Місяць tagasi

      Gotta love how you idiots say shit like this while arguing against the basic economic principles that capitalism is built on.

  90. namanish
    namanish
    Місяць tagasi

    I'm from a wealthy family in Australia. Please don't give us tax cuts we spend it on useless shit and we don't need it. Give money to public services.

  91. Gina Berry
    Gina Berry
    Місяць tagasi

    Borrow borrow borrow, enjoy today cuz there's no tomorrow. Borrow borrow borrow, live for the day dread coming sorrow. E.J.B. That's how you make that type of thing poetic. That lady's dad may have been a brilliant economist, but I got to agree with Oliver on this one, he kind of sucks as a poet.

  92. TerminalCarrion
    TerminalCarrion
    Місяць tagasi

    “We care about the children so much that we’ll give tax cuts to the wealthy, run on cutting inheritance tax and rig the system against upward mobility by allowing a minority of Americans to accumulate the majority of wealth. We do care about the children, but just a very few select children”

    1. potaterjim
      potaterjim
      Місяць tagasi

      "we care about their ability to flip burgers and buy iPhones"

  93. sudhakara Reddy
    sudhakara Reddy
    Місяць tagasi

    This idiot is misleading the public without knowing the subject. Never said high unemployment is the cause of bad economy. Cut his employment he will know the facts automatically

  94. Fabzil
    Fabzil
    Місяць tagasi

    Also, skydiving horse head

  95. Southpaw
    Southpaw
    Місяць tagasi

    Some of the produced videos are fun and funny, this is some creepy shit. Using children in political messaging is creepy by itself. But having them make arguments and act as if they are themselves genuinely interested as child actors is at best creepy as fuck.

    1. seigeengine
      seigeengine
      Місяць tagasi

      There's nothing creepy about it. It's just as disingenuous as every other time kids are used as actors. I'd also imagine nobody watching this is stupid enough to think the kids came to those conclusions. That's not the point. The point is to highlight how exploitative the fascists are of children.

  96. Kontael86
    Kontael86
    Місяць tagasi

    Hey, remember when this video came out an John Oliver said the national debt wasn't a big deal and we'd never have to worry about paying it. And then Janet Yellen said we need a deadline extension because otherwise we'll default and implode our economy? It's almost like comedians with talk shows aren't economists and you should stop listening to them.

    1. Kontael86
      Kontael86
      27 päeva tagasi

      @johnnymittle no, these are not shows to inform you. The fact that you believe a comedy show is here to inform you is precisely how idiots like McConnell and Pelosi have stayed in office for so long, because you have no idea what is really happening or how the world works.

    2. johnnymittle
      johnnymittle
      27 päeva tagasi

      @Kontael86 How can you not comprehend that he is saying things that people you should listen to for information are saying. He's just bringing it to somewhere you'll actually watch. Rather than some boring economic forum.

    3. seigeengine
      seigeengine
      Місяць tagasi

      @Kontael86 That was a hilariously poor bundle of fallacies masquerading as an argument. if you aren't even going to try to operate in good faith, Imma just mute you.

    4. seigeengine
      seigeengine
      Місяць tagasi

      @Kontael86 I mean, I guess you could call it that? It's like saying there's a deadline until you pouring water into a cup overflows it, when the problem is you've decided to keep pouring and refuse to use a larger cup despite having one. I would never phrase it that way because I would never use the term "deadline" to refer to a self-imposed completely arbitrary indirect time limit. I would only ever use it for an direct time limit with a meaningful cause. The issue is saying it's a "deadline" that needs "extension," is you're implying that it's like we have a debt we can't pay and are asking for more time in order to pay it, when that's not at all what's happening. No, printing money does not literally cause inflation. Inflation is caused when the amount of currency increases relative to the valuation to which that currency is anchored. No, some supply/demand mismatches due to the recovery from the pandemic increasing demand while supply is still suppressed is not evidence of some massive devaluation of the currency, and in no way would the US government defaulting on it's debts fix the issue anyway. On the contrary, it would drastically harm both the real US economy, Americans at large, and global trust in America. No, it's correct, and your long-winded blathering that just amounts to you assuming your conclusion doesn't change that.

    5. Kontael86
      Kontael86
      Місяць tagasi

      @seigeengine Right, so there IS a deadline - the timeframe in which this ceiling could be raised in order to avoid default. I understand that I was a bit hyperbolic, but John Oliver said it doesn't matter how much we borrow, as long as we can "come out ahead", and that we can print as much as we want to pay for the debt as long as it doesn't cause inflation. Well, that's a moronic thing to say, since printing money quite literally causes inflation until you take that money back out of the system. And at the rate that inflation is going right now - which the Fed is clearly lying about given the rise in CPI and PPI this year alone - eliminating the debt ceiling is a HORRIBLE idea, because it means they will print the dollar into oblivion. We literally have foreign powers trying to remove themselves from the dollar because of how badly we're debasing it, coupled with our disproportionate influence in the global marketplace given the dollar's reserve status. So the way that Oliver is framing it is laughably - and I imagine purposely - obtuse and misinformed. And the idea that the government simply resolves the issue by "choosing to" is equally obtuse. Continuously financing the government through more debt does not solve any problem except their problem of how to strip value out of the pockets of the working class people. Again - and he even states this - it's almost as if comedians aren't economists and you shouldn't listen to them for your information.

  97. GD PacNW
    GD PacNW
    Місяць tagasi

    Spend less on war, take in more from the 0.1% richest individuals and corporate entities.

    1. seigeengine
      seigeengine
      Місяць tagasi

      Add in a public healthcare system, since the USA already spends enough on healthcare publicly to fund one in any other developed country.

  98. Barry Snelson
    Barry Snelson
    Місяць tagasi

    A dose of the usual left wing rubbish. Empires rise and fall again to dust. I am sure before Rome fell and was burnt some dim characters like this were denying anything bad could happen. America has been able to borrow for so long because your creditors believe they will be repaid. One day, at this rate of spending, they will suddenly cease to believe it. Then every bad dream comes true.

    1. seigeengine
      seigeengine
      Місяць tagasi

      That's... literally what was said in the video. You should try gobbling your own shitpipe less, Barry. Maybe you'd be able to pay attention.

  99. You 2
    You 2
    Місяць tagasi

    The weird Thing is. USA is one of the richest countries in the world. How is It That many Big companies are from USA, but in someway the tax dont cover the economic grow. In the Netherlands they have reduced their debt for some years know. They actually have a "positive rent", of they borrow money, they get a extra money by doing so.

    1. seigeengine
      seigeengine
      Місяць tagasi

      USA has extremely low corporate tax rates, and ways to avoid even those. USA is split between Democrats, who are politicians, and Republicans who are weird corporatist semi-fascists whose only real other political stance is obstructing Democrats. Being corporatists, they keep lowering their tax rates.

  100. Gwendalyn huseny
    Gwendalyn huseny
    Місяць tagasi

    The curved pest emotionally increase because carp complimentarily touch except a onerous dragon. eight, shaky vulture