DC rent is extremely high compared to the salaries that people here get (govt doesn't pay well). They have hundreds of thousands of interns/aides to congress working for next to nothing in terms of wage, while forming the backbone of the political process (writing docs and PRs only for the politicians to read them out loud). These interns/aides come from well to do families all across the country and their lifestyle in DC is expensed by their parents lest their salary would only cover the rent at best.
Government pays too much compared to the private sector and way too much compared to the actual talent (very low bar) it hires. See the CBO report. DC doesn't actually create value it only extracts. As opposed to the SF Bay Area which alone has a $1.38 trillion GDP without grift and theft from the entire country.
@@JustInTime714 > As opposed to the SF Bay Area which alone has a $1.38 trillion GDP without grift and theft from the entire country. About that...the Bay is absolutely riddled with snake oil companies designed to do nothing but burn VC funding. Sure there are legitimate companies there, but you can't even remotely say "without grift and theft" with a straight face.
@@JustInTime714 Most cities in the US produce wealth and are the hub for regional wealth creation, DC is just sewer sucking money out of the economy. Mark Twain once remarked "I suppose it can be shown by facts and figures that Congress is America's native criminal class"; he was referring for the various forms of legalish and illegal bribery that goes on in DC. Nothing has changed.
Former DC resident here. The actual population of people who have lived in DC for generations is always treated as invisible, or seen with contempt, by the rest of the country. People assume it's all lobbyists and government employees, many of whom live outside the Beltway or come from the rest of the country. Very few people know what it's actually like, because even if they take a tour, they never go more than 10 blocks from the National Mall.
@@CultureCrossed64 A statement like this is proof that the user has no grasp on reality. People go where the jobs are, and DC has jobs. Turning around and mocking someone for their misfortunes is just an asshole move.
@@wanderlustwarriorWell it's pretty much guaranteed your family wasn't living there 1000 years ago, someone had to move to DC and their decision wasn't a smart one.
@@tobatech972, Continue donating to Africa; they have hungry children in need of your donations. The local government will use it for the "common good"...
I don't live in DC but I go there once or twice a year. The homelessness is rather interesting. There are tent villages all over the area but they're not cheap or crappy tents but pretty high end tents. So my theory is that these people are probably working a full time job and getting paid pretty well but the cost of living there is so astronomical that they're still homeless.
This is actually the case most places. When people see or hear about homelessness, they tell them to "get a job" or "work odd jobs". They usually are working something, but it's so expensive to live that they still can't afford to. DC is just so expensive and high-paying (they were $15/hr for starting wages back when I lived there 15 years ago) that it means your homeless people can afford smartphones ($100/mo expense) and camping gear but not rent ($2000/mo at the cheapest maybe?).
No, it’s not like California. I used to work in homeless outreach in DC, 100% of these people are in serious need and suffering from mental health issues. The city actually does a relatively good job of housing people (generous voucher assistance) but for various reasons we still have a high homeless population.
I'm pretty sure the actual reason is because the tents are given to them by non profits helping the homeless. It's almost impossible to hold down a full time job and live in a tent. Someone in the situation your describing would most likely be in a van or some kind of vehicle.
3:37 Amtrak is government-owned. It’s not headquartered in DC because it wants influence, it’s headquartered in DC because it’s part of the federal government and it happens to have a lot of office space above Washington Union Station that it can use.
Nope Amtrak is not part of the federal goverment, while the US goverment owns the majority of avilable Amtrak shares, they are preffered shares, so the goverment gets a dividend but has no voting rights.
2:31 maximum area of 100 square miles* (10x10 miles) it used to be 100 square miles, but Virginia wanted its part of DC back, and now it’s 60 square miles
Partially correct. D.C. did give it back, mainly because it didn't want it. In the early days of the city (1800s, and poor transport), across the Potomac was too far and thus neglected. So it was seen as beneficial for all involved to give it back to Virginia. D.C. didn't have to try and prop it up, and Virginia got some land back it could better support. Fast forward to today and that portion that was given back (Arlington) now contains all of the tall office buildings D.C. can't have. =P Amazing what a difference a hundred years or so makes.
Im also pretty sure dc can never become a state because the land is on a lease from MD with the explicit rule that it can never become a state. If it does, the land will be reverted back to Maryland
It’s best to think of DC as just the core of a much larger urban area that extends into Virginia and Maryland. Many people make six figures but in many cases they NEED to make that much to afford living there. Rent is very high and house prices are some of the highest in the US.
DC wasnt really intended to be a city when the US was created. The Constitution set aside an area of land to put the seat of government, specifically so that it could be independent of any one state's influence. DC should just be the National Mall, where the president and their family are the only residents, (Which solves the issue of representation.) Rather than being a city, it'd be a district, (imagine that.)
But the idea of cutting DC down so much makes the Federal Government vulnerable to the state that surrounds it. You’re proposing putting all of DC’s utilities and a large chunk of security forces under a states control. DC has to be larger than just the National Mall to encompass the city’s services and the many government buildings
@@GrandVizierPestage that's not necessarily what I meant. there is supposed to be no authority above it other than the federal government itself. That doesn't mean it can't negotiate agreements with states, (just as the federal government already does for things like tribal lands.) But you may ask, "why not just make it a state then?" Because if we have to give representation to people who live there, that presents yet another problem. Keeping the seat of the federal government separate is to prevent states from encroaching on its authority. Equally, giving DC statehood means the federal government is encroaching on the states' authority.
@@Batmans_Pet_Goldfish Excellent points. It's worth nothing too, that this reasoning carried much more significant weight when it was established, and the primacy of the Federal government was a much more tenuous thing (see "U.S. Civil War".) In addition, as I understand it, in the days of much more lengthy transportation and communication, having a population present that had direct access to the Capitol could be considered unfair influence, and was part of the justification. It's worth pointing out to everyone reading that Washingtonians are able to vote for president just as everyone else does. It's just that they don't have representation in Congress, as their House member is an observing member only. I don't argue however that this status has not aged well and is due major reform. But it brings up tricky issues. If D.C. becomes a state, does it have undue influence and leverage over the Federal government (Which was the point of making it a district in the first place)? If a different track is adopted (like the one proposal to make it's house member a full voting member), does that really do anything for the residents who's city is still checked by the Federal government at large? A new balance of power among these interests needs to be struck, but a balance needs to be maintained nonetheless.
That's just not true. That's a made up rumor that "DC wasn't intended to be a city". It was literally planned out to be from even before it was made. George Washington commissioned Charles L'Enfant to draw up literal city plans of what the city should look like. Not to mention, that rumor or idea just doesn't make any sense. The capital of a country is of course going to be a city.
@@GrandVizierPestage the majority of federal agencies are actually more in the metro area not in actual DC. Most security agencies are located outside DC. The state threatening the federal government idea doesnt make sense in the post civil war US
What should happen to D.C. is that a much smaller region than 10 x 10 miles should be kept as the federal district. The remaining portion should be returned to the state of Maryland, much as the original region of D.C. on the other side of the Potomac River was returned to the state of Virginia.
Neither DC or Maryland want retrocession. DC wants to be a state, most people in MD also support DC becoming a state. The big difference between MD retrocession vs VA, is both Alexandria and VA wanted retrocession.
@covertuser odd thing to say about a government that's supposed to be for, by, and of the people. why should the current balance of power be maintained?
I lived in DC many years ago. At the time, the city itself was very divided with NW being an extremely nice place to live (gorgeous brick townhomes, lush parks, cobbled streets etc) and most of the rest of the city being one of the worst cases of urban blight in the country at the time. Many of the surrounding suburbs are fabulously wealthy with some of the highest income and most expensive real estate areas in the country. There are lots of young people in the city, a large portion of whom are from wealthy families themselves and are in DC working internships for various government agencies. Georgetown was like a Disney Land for recent Ivy League grads with very expensive housing, fancy rooftop bars and high end shopping. Meanwhile NE was just sketchy with open drug dealing, violence, boarded up houses and police sirens. It's a very, very strange place. Things have changed a bit since those bad old days, but DC still has issues.
DC will never achieve Statehood with the extreme division in US politics. The biggest issue is that ever state gets two Senators, so a Democratic leaning DC State would change the balance of the Senate immediately. About a decade ago there was a compromise bill that would have added two more Senators in Republican leaning places (somehow). The whole idea is virtually dead now.
everybody is trying to gain advantage now by seeking to change the rules of the game. National capital was always intended to NOT be a state. Supreme Court was always intended to be beyond the reach of Congressional influence to preserve the separation of powers-- but Ds are hellbent to pack the court and impose limits on the Court's rulings unconstitutionally in order to subvert the current court , which they see as unfavorable. If we continue to wage war on the institutions established to make the country governable, it will soon become truly ungovernable. Both parties now are so focused on gaining short term advantage, they are throwing away the long term viability the Founders gave us.
I can see how that would be politically contentious. The other commenters outline of just making the remaining areas other than the Capitol itself part of Maryland seems ideal. Are there political reasons why this isn't considered?
In Argentina we gave the federal capital district an special autonomy status, meaning that the federal goverment would devolve powers to the Autonomous City of Buenos Aires and its legislature. Regarding the Congress problem the city already had senators and deputies in congress before autonomy, but it is debated in constitutional law if the city deserves senators as is an autonomous city and not a province. Maybe in the U.S a solution would be a totally autonomous D.C with representatives but no senators as it would not be a state, you could even avoid all the representation in congress if needed.
Short of Canada willing to cede its petro-province Alberta, there are no potential new Republican-leaning US states. That's how right-wing the current US is compared to the rest of the world, at least beyond theocracies with very tenuous futures.
The income stats/economic figures for D.C. are skewed by a small section of extremely well paid/wealthy individuals - very much like Canberra ACT in Australia, or Ottawa NCR in Canada.
Definitely not a small section as the counties around DC some have a million plus are some of the wealthiest in the country because so many make six-figures around the DC area. I'd say majority of jobs are $100k+
They should reduce the district to the National Mall, where the only permanent residents live in the White House. Then make the rest of it a county in Maryland. That would solve the representation problem without creating a 51st state.
Copy Brazil model: neither a state, neither a municipality, but has all power of both, with its own Legislative council, justice system, plus represents in the National Congress.
Great insight into D.C.'s complex economy! It's crazy how its unique status drives both massive growth and big inequality. The idea of D.C. gaining independence is more interesting than ever. 🔥
The map shown at 9:46 isn't right. You're including all of present day Alexandria, which was not all part of the district back at the founding. A perfect square would be more accurate.
Continue donating to Africa; they have hungry children in need of your donations. The local government will only use it for the "common good''. I swear it's true!
It's the way that they lobby, it's "more transparent". Most foreign governments do very little "direct" lobbying. Their lobbying groups are mostly the "communications" arm of their operation. Most of the actual money goes into so called "dark money" entities, like super-PACs, etc... As an example, "Akin Gump" is the lobbying group that communicates the most with government officials in the US and their biggest clients are SA and JPN, yet there "lobbying spend" is way lower tham Liberia here on paper. If you already have access, access is cheaper than the money you're using to fund campaigns or to give your chosen candidates wins (i.e: sending more rich foreign exchange students to your public university or funding a construction project for very low interest rates)
My best guess would be that Liberia lobbies the U.S. government heavily to keep favorable conditions for the Liberian International Ship & Corporate Registry (LISCR, LLC), which is the largest ship registry in the world by gross tonnage according to "Liberian companies" on Wikipedia. The stats shown in this video likely use the Foreign Agents Registration Act (FARA) as a way of measuring how much money foreign countries have lobbied in U.S. politics, and LISCR, LLC is registered in the efile(dot)FARA(dot)gov website.
Live in NE DC, In Finance, 100k + Salary - Corporation Lobbying - Tourism - Government Spending Are big but Colleges lile Howard , UMD, Georgetown, American University, George washington University are top Universities that are in and surround DC. Great place for Brain Drain considering All embassy's are in the area.
And then ultimately administered by politicians who don't care because the DC Area is not their residence where they'd be lobbying funding and policies for, and DC residents aren't their voter base.
I spent a lot time around there, the hoods of Maryland just outside of dc and inside DC is a striking juxtaposition compared to the tourist/college/political areas
Economics Explained, it would mean a lot to me if you made a video on the economy of Malaysia. That way, all your viewers and subscribers will learn about the country's GLCs (government-linked companies), ethnic-based politics, ethnic-based affirmative action policies, and how they all play a major role in Malaysia's economy. Please accept my request.
Feels like the world is spinning out of control with rising rents, food prices, and conflicts that keep escalating. It's hard not to worry about where things are headed, especially for younger generations. But if history has taught us anything, it's that innovation and resilience often show up when things seem darkest. Let’s just hope we see that change soon. Been diving deeper into these topics on my channel if anyone’s interested in exploring more!
Im from DC! It has issues for sure but it’s far better now than 10 years ago and a whole different city than it was 10 years before that. Overall I think it’s a really great place to live and it’s getting better all the time
Best guess is that Liberia is a notorious flag of convenience for ships (essentially a jurisdiction where you register your ship to avoid having to deal with things like labor and environmental laws and safety regulations). Liberia does this because it brings in a lot of registration fees. So I’m guessing that a lot of that lobbying is related to either sleazy shipowners or Liberia’s government trying to make sure Congress doesn’t put a stop to it.
If DC became a state, the US would need to move the capital elsewhere, because the capital needs to be separate from any one state to prevent this from being more like an empire with a single state ruling over the others.
I simply dont understand how americans look at what everyone else has done successfully and think that if they were to try it it would be bad. Canda, the UK, Japan etc dont have separate capital regions out of fear that the capital would have too much power. This is entirely made up and has not happened. All other capitals are treated just like every other administrative district.
As a middle class person (by local standards probably lower middle class or lower class, but by national standards probably upper middle class) from Northern Virginia within walking distance of DC, my experience has always been that DC is a place only for the ultra poor or the ultra rich. If you are truly very poor, you simply cannot afford to leave, and if you have any more money than that you would rather live in a suburb than the city, unless you are extremely wealthy and can afford to live in Georgetown or some equally fancy part of the city. DC barely exists as an entity of its own, everything about it revolves around its suburbs (which would probably not all be called suburbs if not for lines on a map, there are parts of Northern Virginia much more urban than DC) and you can really only understand DC as a metropolitan area. In that area, it is extremely expensive and generally wealthier than the rest of the country, but it has every level of wealth as any other place, they are simply very segregated from each other and the actual city of DC has most of the poor areas as well as a few of the richest ones. Another thing of note about the population of the DC area is just how immigrant heavy it is. It has the largest population of immigrants from many countries' immigrants of any area of the US (to clarify what I mean by that, the biggest Ethiopian immigrant community in the US is in the DC area and the same is true for a lot of other countries), and if you name a country, I almost certainly have known people from it before. While this is absolutely not true about all of them, most of these immigrants do not come here with absolutely nothing like most immigrants looking for a better life do, so while I'm honestly not certain which direction that skews inequality in the area, I am almost certain that it skews it in some direction.
Montgomery County’s and the rest of Maryland’s low unemployment rate should not be taken at face value as all good. It’s not that everyone is working, it’s that everyone who wants to is. This makes it really good for job-seekers, but not very good for companies who may want to hire. Many people also just live in Maryland and work remotely in a place where they could bring in much more income, such as New York City. This means that there isn’t much growth or expansion going on in general. Still happy to live here!
The current economy is unnecessarily tougher for some most people, myself included. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market. Plus inflation is already catching up with my $310k portfolio. I’m really worried about survival after retirement.
Agreed! this is why I work with one. My $520k portfolio is well-matched for every market season yielding 85% rise from early last year to date. I and my advisor are working on more figures for this year. IMO, financial advisors are the most sought-after professionals after doctors.
Thank you for sharing, I must say, Stacy appears to be very knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
Agreed. I was really surprised that there was so little mention of Virginia and Maryland. The video I felt focused much more on the political control Congress has over the city. But from an economics perspective, you can't talk about the economics of the area without addressing Northern Virginia and Southern Maryland.
Making it a state defeats the purpose of separated district. As influential as the city is, the idea of granting statehood would prove to be quite slimy
I've heard that Washington DC is basically one of the most dangerous cities to live in in the country now. There's so much crime there despite it being the capital of the country. I mean if that's true that's just really sad
Don't conflate equal opportunity with equal outcome. America is the land of opportunity, not guarantees. Poverty is to be expected for those who do not work and our social programs exist to help.
How do you explain the poverty of full-time employed people? 😂 America works to exploit its most vulnerable to the benefit of the wealthy first-and-foremost. You must be young. Nobody who's lived here for more than a couple of decades could experience life here & not recognize how things really work.
@@stevebohutch Those liabilities were supposed to be self-funding, just like the USPS. Economic realities made that difficult, but interference from Congress and borrowing from them made it basically impossible (for the USPS, too!). If we undid and repaid all that, it _might_ put them back on track for a while, but eventually, we'll have to prop them up.
Japan has a debt to income of something like 460% of GDP the last figure I recall. The US is at like 110% (on par with your 10% deficit number) debt to income and we are the world reserve currency, and they often just push their economic issues onto the rest of the world. The game is far from over if you live in the US.
I know it's not really how this series is set up, but imo you can't really look at DC's economy by itself. The DMV is highly interconnected. And, sure, almost any city is interconnecred to its suburbs, but DC is different than most. Several of the counties that are DC suburbs, Fairfax, MoCo, and PG, are individually more populous that DC itself
I found the list of companies listed as having headquarters in DC to be interesting, but it's inaccurate. What you'll find is most large private companies are located in one of the adjacent States. You'll find most companies in the area that do business with the government to also be located in one of the adjacent states. This is probably to make sure they have at least somebody to lobby for them when the time comes around. Ironically, even though all of Congress is in charge of the District, nobody treats it as something they own.
Economics will have zero effect on whether or not its a state. State governments have power, all be it less, but it still adds sands in the gears. The powerful there like the fact they are a self governing kingdom in all but name.
I don’t think dc was meant to have a population with American citizens due to how the constitution talks about dc being a government specific area the federal government holds. It’s likely why the Virginia portion of dc left Washington DC prior to the American civil war. While it creates a legal problem to make dc a state governing municipality, it honestly should happen with purt Rico getting statehood, the Jefferson region of California becoming a state, and east Oregon getting statehood seperate from the portlandia coast which would politically balance it out.
You need to do the state of Maryland where all the rich corporations and billionaires “incorporate” their businesses and charities even though they don’t live in the state. I guarantee you there’s so shady business going on there!!
The economic crisis and downturn are all the signs of 2008 market crash 2.0, so my question is do I still save in the US dollar or is it okay to move all emergency and savings to precious metals??
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I‘d live to see you revisit your national leaderboard with some sustainability metrics such as human development index, climate risk or consumption/availability of natural resources
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..
The world is gradually moving out of the I work for my boss era, and people who choose to be entrepreneurs are highly securing a brighter future for themselves..
Would be interesting to add some more metrics to the leaderboard. Equality, sustainability, and use cost of living normalized values for at least GDP/capita
12:37 it not legislation that makes the difference it’s just that people who are more stable and productive people live in Maryland not Virginia. Probably because of public perception of the two states.
My main concern is how to survive all of these financial and political crises, especially in light of the US political power scuffle. The government has really called things more difficult for its citizens, and we can't sit back and bear all the consequences of bad governance.
So many of D.C.'s problems would be solved if it was treated like Vatican City. The only permanent residents/citizens of VC are employees of the Holy See. If the only people who were "residents" D.C. were Federal Employees, it would fix nearly every economic/political challenge the District faces. Elected officials and their staff would remain citizens of the state they represent, and Federal Department Employees working at the in-District offices (ex. DoJ, FBI, NSA, etc.) could choose to either remain citizens/residents of their home states, with all the rights and responsibilities of residents of those states, (voting/representation specifically), and be subject to those states economic policies (like State Income Taxes), or to "move" to D.C. Of course, if Federal Appointments were term-limited (#EndTheDeepState), they'd also be motivated to keep up a connection to their home states, so they'd have somewhere to return when their tenure as Federal Employees ended.
Honestly IMO DC should only be government buildings and government jobs. Make it that the only reasons you're in DC is to be a tourist or because you work for the government.
@@wanderlustwarrior again its a 10 mile square you can have all those things outside of the square (heck if its now only the government buildings you can probably shrink it.)
People try to predict the economy not realizing it is not a capitalistic market, its a command economy, central planning! my concern is, instead of having much dollar in bank that could lose value to inflation, do I save in gold to reserve and grow wealth for now, or just hang on?
Wouldn’t the best way to measure how an economy is impacting the people is to measure how much is spent on or for the people? What every residence buys or is given by the govt? If a company is making $30b a year HQ in a city / metropolitan, if it only hires 10 people locally then isn’t the impact only what those 10 people made plus the taxes paid by the company? All other gains in the busyRr going to people elsewhere and or govt revenues elsewhere
Almost every "industry" in that city are grifters... takers not makers. When you live off the government that isn't being "productive" because it's stealing money from others via taxes. Also DC's big problem is that they don't allow buildings over a certain height, which means density is not what it should be for the size of city it is. This makes all of the real estate there inefficient and expensive.
It isn't bribing at all. Lobbying is just when people meet with politicians to convince them to support an issue. Now, the more money you have, the easier the access is. But it isn't bribing, and there are lobbyist for positive things like green energy and workers issues.
Lately I feel the creator is going over the text too fast and is not into it as he used be. Of course it's understandable but it would be awesome if he acknowledged it and changed back a bit. Also, what happened to EpicEconomics?
We need a MUCH larger House of Representatives with many, many more congressmen. Putting a new Capitol in the middle of nowhere out in the square states area would have many, many beneficial effects.
@@P_Petkov Lol, someone always makes that mistake. Would you rather the country be run by faceless bureaucrats who constantly scheme to get more budget? Or, would you prefer a Congress person with the Constitutional limit on constituents so you and your neighbors would have a chance to ensure he is working FOR YOU? I think government would shrink quickly.
@@Phyt5Right, conservative America's extreme libertarian bias makes our government relatively understaffed and underfunded for a country where our daily life doesn't involve separate negotiations with strongmen-led local gangs. I've lived in the weak-state libertarian paradise of Subsaharan Africa where the low tax payments causes political apathy due to lack of popular investment in the community, creating a power vacuum where paying fees and "fees" is expected.
@@doujinflipLOL, and where would that be? Because the overwhelming majority of African countries have sky-high taxation, even worse than South America, nevermind their insane regulations meant to hinder any business that doesn't "grease" the "proper" hands. In fact, I don't think there's a single African country catalogued as a tax haven, unlike "failures" such as Singapore, Ireland or Panama.
If you've achieved any financial security, savings, owning a house, a pension.... you'll find these are going to be a financial burden around your neck..... they'll tax you to oblivion..
In light of the global crisis, rising inflation, and economic instability caused by inadequate governance, stocks, ETFs, Mutual funds, and REITs, assets can serve as a viable path to achieving financial independence
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
She's known as a 'Stacy Lynn Staples'. One of the finest portfolio managers in the field also widely recognized. Just research the name. You’d find necessary details to work with and set up an appointment.
Washington DC becoming a state would give give a popukation of public servants and lobbiests disproportinate representation in federal politics. It would be a terrible idea to give a concetrated zone of special interets even more influence.
@@wanderlustwarrior And yet the relatively high volume of people in these professions will still create the effect. Make it a state and lobbyists will emigrate for certain.
DC should never become a state. Making DC a state means the federal gov encroaches on state power. Don't need more of that. Someone above said make all of DC the national mall, make the president and their family are the only residents, and effectively making the city a district. All the jobs stay the same, utilities are in a public federal utility company as is the security forces, etc to continue business as usual. Voting rights for the citizens there would have to be figured out as well. Maybe congress rights in a law that the people living there presumably still have voting rights under the District of Columbia, even having a non voting representative for the people there like Puerto Rico does.
4:10 I wish the sources were in the description. It always irks me when sources are not cited in videos that are making claims as true. Also for the chart... is it annual spending? It doesn't specify. In this particular case, I am surprised not to see Israel on this chart; it spends a tremendous amount on US lobbying and receives more financial support from the US than any other country. Edit: I found the chart but it took a couple minutes and it only lists those countries. To see Statista's sources you need to create an account which is ludicrous. Sources must be transparent and accessible to everyone.
Maryland lent a small amount of their own space to create not even a city, separated from all states, because no state shall ever have sole authority over the federal government center. A couple hundred years later some random guy: What about making this small district a state?
@@ZCSilver sure, but merely reconsidering something doesn't mean it needs to change. In this case, there isn't much to reconsider, the problem of representation is a direct result of it being a city, with people to represent.
The belief that the Federal Reserve would stop raising interest rates was the driving force behind the entire economic chaos. What should we do now that we have a situation where interest rates are crashing? At this point, how would you suggest that I safely allocate $300k?
Although the market is currently volatile, aren't the current valuations a result of the Federal Reserve's monetary policy and low interest rates? Therefore, my recommendation is that you consult a financial advisor who can give you entry and exit points for the shares that you are interested in.
Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.
How can I participate in this? I aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Vivian Jean Wilhelm" I've worked with her for some years and highly recommend her. Check if she meets your criteria.
government be like give more money to the banks and mega corporation. Also Government penny's for the American people and less on American families. how many times we do this now, we have about 100million people on a verge of homelessness or being a debt slave to the banks. That's why many young people are not having kids because everything is expensive and not a good place to live.
Except stats show otherwise: the wealthier people are, the less children they have. Besides, you people voted for it: Obama's first term could be argued that it waste a surprise, but his second, as well as Biden's, cannot. Big State will always put their cronies ahead of everyone else, that's how they keep being Big State.
Go to surfshark.com/economics for 4 extra months of Surfshark
Why are we selecting out only Washington DC? The inequality in America is everywhere and has been increasing for decades!
Why are there no video on your channel about the caribbean,are we too insignicant for you!?
DC rent is extremely high compared to the salaries that people here get (govt doesn't pay well). They have hundreds of thousands of interns/aides to congress working for next to nothing in terms of wage, while forming the backbone of the political process (writing docs and PRs only for the politicians to read them out loud).
These interns/aides come from well to do families all across the country and their lifestyle in DC is expensed by their parents lest their salary would only cover the rent at best.
Government pays too much compared to the private sector and way too much compared to the actual talent (very low bar) it hires. See the CBO report.
DC doesn't actually create value it only extracts. As opposed to the SF Bay Area which alone has a $1.38 trillion GDP without grift and theft from the entire country.
@@JustInTime714
> As opposed to the SF Bay Area which alone has a $1.38 trillion GDP without grift and theft from the entire country.
About that...the Bay is absolutely riddled with snake oil companies designed to do nothing but burn VC funding. Sure there are legitimate companies there, but you can't even remotely say "without grift and theft" with a straight face.
@@JustInTime714 Most cities in the US produce wealth and are the hub for regional wealth creation, DC is just sewer sucking money out of the economy. Mark Twain once remarked "I suppose it can be shown by facts and figures that Congress is America's native criminal class"; he was referring for the various forms of legalish and illegal bribery that goes on in DC. Nothing has changed.
@@JustInTime714 Its the capital of a great power. it does the business of governing so everyone else can do their business.
@@JustInTime714their grift is wallstreet endlessly supplying money for money losing endeavours.
Former DC resident here. The actual population of people who have lived in DC for generations is always treated as invisible, or seen with contempt, by the rest of the country. People assume it's all lobbyists and government employees, many of whom live outside the Beltway or come from the rest of the country. Very few people know what it's actually like, because even if they take a tour, they never go more than 10 blocks from the National Mall.
It's because we think you'd have to be kind of dumb to choose to live in a place that was EXPLICITLY set up to not have representation as a state.
@@CultureCrossed64 wow, it's almost like people don't choose where they were born and grow up, and not everyone can afford to move away from there.
@@CultureCrossed64 A statement like this is proof that the user has no grasp on reality. People go where the jobs are, and DC has jobs. Turning around and mocking someone for their misfortunes is just an asshole move.
@@wanderlustwarriorWell it's pretty much guaranteed your family wasn't living there 1000 years ago, someone had to move to DC and their decision wasn't a smart one.
Spot on, also visitors and new arrivals have a rude awaking how the locals feel about them..
Wow why does Liberia spend so much on lobbying??
I was wondering that as well!
I am wondering the same thing and how do they afford it?
Most likely the cruise industry, which are all located there to dodge taxes and regulations.
@@tobatech972, Continue donating to Africa; they have hungry children in need of your donations. The local government will use it for the "common good"...
Money laundering
I don't live in DC but I go there once or twice a year. The homelessness is rather interesting. There are tent villages all over the area but they're not cheap or crappy tents but pretty high end tents. So my theory is that these people are probably working a full time job and getting paid pretty well but the cost of living there is so astronomical that they're still homeless.
Yet the rich sociopaths in Silicon Valley still believe the myth that all homeless people are lazy drug addicts and criminals.
100% correct
This is actually the case most places. When people see or hear about homelessness, they tell them to "get a job" or "work odd jobs". They usually are working something, but it's so expensive to live that they still can't afford to. DC is just so expensive and high-paying (they were $15/hr for starting wages back when I lived there 15 years ago) that it means your homeless people can afford smartphones ($100/mo expense) and camping gear but not rent ($2000/mo at the cheapest maybe?).
No, it’s not like California. I used to work in homeless outreach in DC, 100% of these people are in serious need and suffering from mental health issues. The city actually does a relatively good job of housing people (generous voucher assistance) but for various reasons we still have a high homeless population.
I'm pretty sure the actual reason is because the tents are given to them by non profits helping the homeless. It's almost impossible to hold down a full time job and live in a tent. Someone in the situation your describing would most likely be in a van or some kind of vehicle.
3:37 Amtrak is government-owned. It’s not headquartered in DC because it wants influence, it’s headquartered in DC because it’s part of the federal government and it happens to have a lot of office space above Washington Union Station that it can use.
Nope Amtrak is not part of the federal goverment, while the US goverment owns the majority of avilable Amtrak shares, they are preffered shares, so the goverment gets a dividend but has no voting rights.
@@cahdoge It does get voting rights, because it can just pass laws to make Amtrak do what it wants lol
2:31 maximum area of 100 square miles* (10x10 miles) it used to be 100 square miles, but Virginia wanted its part of DC back, and now it’s 60 square miles
Correct.
“10 miles-squared” is not the same as “10 square miles”.
10 miles each side = 100 square miles.
Partially correct. D.C. did give it back, mainly because it didn't want it. In the early days of the city (1800s, and poor transport), across the Potomac was too far and thus neglected. So it was seen as beneficial for all involved to give it back to Virginia. D.C. didn't have to try and prop it up, and Virginia got some land back it could better support.
Fast forward to today and that portion that was given back (Arlington) now contains all of the tall office buildings D.C. can't have. =P Amazing what a difference a hundred years or so makes.
The Virginia residents at that time voted to be part of Virginia instead of DC because they wanted to keep their slaves
Im also pretty sure dc can never become a state because the land is on a lease from MD with the explicit rule that it can never become a state. If it does, the land will be reverted back to Maryland
It’s best to think of DC as just the core of a much larger urban area that extends into Virginia and Maryland.
Many people make six figures but in many cases they NEED to make that much to afford living there. Rent is very high and house prices are some of the highest in the US.
DC wasnt really intended to be a city when the US was created. The Constitution set aside an area of land to put the seat of government, specifically so that it could be independent of any one state's influence. DC should just be the National Mall, where the president and their family are the only residents, (Which solves the issue of representation.) Rather than being a city, it'd be a district, (imagine that.)
But the idea of cutting DC down so much makes the Federal Government vulnerable to the state that surrounds it. You’re proposing putting all of DC’s utilities and a large chunk of security forces under a states control. DC has to be larger than just the National Mall to encompass the city’s services and the many government buildings
@@GrandVizierPestage that's not necessarily what I meant. there is supposed to be no authority above it other than the federal government itself. That doesn't mean it can't negotiate agreements with states, (just as the federal government already does for things like tribal lands.)
But you may ask, "why not just make it a state then?" Because if we have to give representation to people who live there, that presents yet another problem. Keeping the seat of the federal government separate is to prevent states from encroaching on its authority. Equally, giving DC statehood means the federal government is encroaching on the states' authority.
@@Batmans_Pet_Goldfish Excellent points. It's worth nothing too, that this reasoning carried much more significant weight when it was established, and the primacy of the Federal government was a much more tenuous thing (see "U.S. Civil War".) In addition, as I understand it, in the days of much more lengthy transportation and communication, having a population present that had direct access to the Capitol could be considered unfair influence, and was part of the justification.
It's worth pointing out to everyone reading that Washingtonians are able to vote for president just as everyone else does. It's just that they don't have representation in Congress, as their House member is an observing member only.
I don't argue however that this status has not aged well and is due major reform. But it brings up tricky issues. If D.C. becomes a state, does it have undue influence and leverage over the Federal government (Which was the point of making it a district in the first place)? If a different track is adopted (like the one proposal to make it's house member a full voting member), does that really do anything for the residents who's city is still checked by the Federal government at large? A new balance of power among these interests needs to be struck, but a balance needs to be maintained nonetheless.
That's just not true. That's a made up rumor that "DC wasn't intended to be a city". It was literally planned out to be from even before it was made. George Washington commissioned Charles L'Enfant to draw up literal city plans of what the city should look like.
Not to mention, that rumor or idea just doesn't make any sense. The capital of a country is of course going to be a city.
@@GrandVizierPestage the majority of federal agencies are actually more in the metro area not in actual DC. Most security agencies are located outside DC. The state threatening the federal government idea doesnt make sense in the post civil war US
What should happen to D.C. is that a much smaller region than 10 x 10 miles should be kept as the federal district. The remaining portion should be returned to the state of Maryland, much as the original region of D.C. on the other side of the Potomac River was returned to the state of Virginia.
I agree. That, or they gain voting representation in the House, but not the Senate.
Neither DC or Maryland want retrocession. DC wants to be a state, most people in MD also support DC becoming a state. The big difference between MD retrocession vs VA, is both Alexandria and VA wanted retrocession.
@@GuapoG0tGuap It does not matter what the people want. It is about the balance of power in the U.S. Senate.
@covertuser odd thing to say about a government that's supposed to be for, by, and of the people. why should the current balance of power be maintained?
@@covertusermy brother in Christ, do you hear yourself?
I lived in DC many years ago. At the time, the city itself was very divided with NW being an extremely nice place to live (gorgeous brick townhomes, lush parks, cobbled streets etc) and most of the rest of the city being one of the worst cases of urban blight in the country at the time. Many of the surrounding suburbs are fabulously wealthy with some of the highest income and most expensive real estate areas in the country. There are lots of young people in the city, a large portion of whom are from wealthy families themselves and are in DC working internships for various government agencies. Georgetown was like a Disney Land for recent Ivy League grads with very expensive housing, fancy rooftop bars and high end shopping. Meanwhile NE was just sketchy with open drug dealing, violence, boarded up houses and police sirens. It's a very, very strange place. Things have changed a bit since those bad old days, but DC still has issues.
IBM is headquartered in New York, not DC
DC will never achieve Statehood with the extreme division in US politics. The biggest issue is that ever state gets two Senators, so a Democratic leaning DC State would change the balance of the Senate immediately. About a decade ago there was a compromise bill that would have added two more Senators in Republican leaning places (somehow). The whole idea is virtually dead now.
everybody is trying to gain advantage now by seeking to change the rules of the game. National capital was always intended to NOT be a state. Supreme Court was always intended to be beyond the reach of Congressional influence to preserve the separation of powers-- but Ds are hellbent to pack the court and impose limits on the Court's rulings unconstitutionally in order to subvert the current court , which they see as unfavorable. If we continue to wage war on the institutions established to make the country governable, it will soon become truly ungovernable. Both parties now are so focused on gaining short term advantage, they are throwing away the long term viability the Founders gave us.
I can see how that would be politically contentious. The other commenters outline of just making the remaining areas other than the Capitol itself part of Maryland seems ideal. Are there political reasons why this isn't considered?
It could be done by combining Rhode Island with Connecticut at the same time.
In Argentina we gave the federal capital district an special autonomy status, meaning that the federal goverment would devolve powers to the Autonomous City of Buenos Aires and its legislature. Regarding the Congress problem the city already had senators and deputies in congress before autonomy, but it is debated in constitutional law if the city deserves senators as is an autonomous city and not a province. Maybe in the U.S a solution would be a totally autonomous D.C with representatives but no senators as it would not be a state, you could even avoid all the representation in congress if needed.
Short of Canada willing to cede its petro-province Alberta, there are no potential new Republican-leaning US states. That's how right-wing the current US is compared to the rest of the world, at least beyond theocracies with very tenuous futures.
The income stats/economic figures for D.C. are skewed by a small section of extremely well paid/wealthy individuals - very much like Canberra ACT in Australia, or Ottawa NCR in Canada.
Definitely not a small section as the counties around DC some have a million plus are some of the wealthiest in the country because so many make six-figures around the DC area. I'd say majority of jobs are $100k+
They should reduce the district to the National Mall, where the only permanent residents live in the White House. Then make the rest of it a county in Maryland. That would solve the representation problem without creating a 51st state.
If they just wanted representation this would have happened a long time ago. They want electoral college votes.
Copy Brazil model: neither a state, neither a municipality, but has all power of both, with its own Legislative council, justice system, plus represents in the National Congress.
Wait, so instead of a city, the DISTRICT of Columbia should be just a district?
As someone from the area, locals would absolutely never go for this.
@@EJH783 why not?
Can you do one on Austria? Would be nice to see what an outside perspective with no interest in the matter has to say 🤔
In short: "it's over"
Great insight into D.C.'s complex economy! It's crazy how its unique status drives both massive growth and big inequality. The idea of D.C. gaining independence is more interesting than ever. 🔥
The map shown at 9:46 isn't right. You're including all of present day Alexandria, which was not all part of the district back at the founding. A perfect square would be more accurate.
You didn't even mention Liberia's lobbying expenditure?
yea how is that possible. what are they even lobbying for!?
Continue donating to Africa; they have hungry children in need of your donations. The local government will only use it for the "common good''. I swear it's true!
It's the way that they lobby, it's "more transparent". Most foreign governments do very little "direct" lobbying. Their lobbying groups are mostly the "communications" arm of their operation.
Most of the actual money goes into so called "dark money" entities, like super-PACs, etc...
As an example, "Akin Gump" is the lobbying group that communicates the most with government officials in the US and their biggest clients are SA and JPN, yet there "lobbying spend" is way lower tham Liberia here on paper.
If you already have access, access is cheaper than the money you're using to fund campaigns or to give your chosen candidates wins (i.e: sending more rich foreign exchange students to your public university or funding a construction project for very low interest rates)
My best guess would be that Liberia lobbies the U.S. government heavily to keep favorable conditions for the Liberian International Ship & Corporate Registry (LISCR, LLC), which is the largest ship registry in the world by gross tonnage according to "Liberian companies" on Wikipedia.
The stats shown in this video likely use the Foreign Agents Registration Act (FARA) as a way of measuring how much money foreign countries have lobbied in U.S. politics, and LISCR, LLC is registered in the efile(dot)FARA(dot)gov website.
@@xiquitacuringajust here to let you know that i disliked your comment
Live in NE DC,
In Finance, 100k + Salary
- Corporation Lobbying
- Tourism
- Government Spending
Are big but Colleges lile Howard , UMD, Georgetown, American University, George washington University are top Universities that are in and surround DC. Great place for Brain Drain considering All embassy's are in the area.
A big reason for the high poverty rate is that it was an easy place to build federally subsidized housing that was shot down by other cities.
no, it was sabotaged by the NIMBYs of Georgetown.
And then ultimately administered by politicians who don't care because the DC Area is not their residence where they'd be lobbying funding and policies for, and DC residents aren't their voter base.
The national mall is not a suburb. It’s literally the middle of the city.
I spent a lot time around there, the hoods of Maryland just outside of dc and inside DC is a striking juxtaposition compared to the tourist/college/political areas
Economics Explained, it would mean a lot to me if you made a video on the economy of Malaysia. That way, all your viewers and subscribers will learn about the country's GLCs (government-linked companies), ethnic-based politics, ethnic-based affirmative action policies, and how they all play a major role in Malaysia's economy. Please accept my request.
I would be very curious to see this video
Malay culture is beautiful
Feels like the world is spinning out of control with rising rents, food prices, and conflicts that keep escalating. It's hard not to worry about where things are headed, especially for younger generations. But if history has taught us anything, it's that innovation and resilience often show up when things seem darkest. Let’s just hope we see that change soon. Been diving deeper into these topics on my channel if anyone’s interested in exploring more!
Im from DC! It has issues for sure but it’s far better now than 10 years ago and a whole different city than it was 10 years before that. Overall I think it’s a really great place to live and it’s getting better all the time
Can you explain how?
Can you do a video on the economy of Estonia
Can anyone explain why Liberia of all states does the most lobbying in the USA? (4:08)
It’s obviously a mistake.
Best guess is that Liberia is a notorious flag of convenience for ships (essentially a jurisdiction where you register your ship to avoid having to deal with things like labor and environmental laws and safety regulations). Liberia does this because it brings in a lot of registration fees. So I’m guessing that a lot of that lobbying is related to either sleazy shipowners or Liberia’s government trying to make sure Congress doesn’t put a stop to it.
If DC became a state, the US would need to move the capital elsewhere, because the capital needs to be separate from any one state to prevent this from being more like an empire with a single state ruling over the others.
Nailed it! DC is specifically not a state because it is meant to be a neutral territory for different interests of the country to meet and debate.
I simply dont understand how americans look at what everyone else has done successfully and think that if they were to try it it would be bad. Canda, the UK, Japan etc dont have separate capital regions out of fear that the capital would have too much power. This is entirely made up and has not happened. All other capitals are treated just like every other administrative district.
As a middle class person (by local standards probably lower middle class or lower class, but by national standards probably upper middle class) from Northern Virginia within walking distance of DC, my experience has always been that DC is a place only for the ultra poor or the ultra rich. If you are truly very poor, you simply cannot afford to leave, and if you have any more money than that you would rather live in a suburb than the city, unless you are extremely wealthy and can afford to live in Georgetown or some equally fancy part of the city. DC barely exists as an entity of its own, everything about it revolves around its suburbs (which would probably not all be called suburbs if not for lines on a map, there are parts of Northern Virginia much more urban than DC) and you can really only understand DC as a metropolitan area. In that area, it is extremely expensive and generally wealthier than the rest of the country, but it has every level of wealth as any other place, they are simply very segregated from each other and the actual city of DC has most of the poor areas as well as a few of the richest ones. Another thing of note about the population of the DC area is just how immigrant heavy it is. It has the largest population of immigrants from many countries' immigrants of any area of the US (to clarify what I mean by that, the biggest Ethiopian immigrant community in the US is in the DC area and the same is true for a lot of other countries), and if you name a country, I almost certainly have known people from it before. While this is absolutely not true about all of them, most of these immigrants do not come here with absolutely nothing like most immigrants looking for a better life do, so while I'm honestly not certain which direction that skews inequality in the area, I am almost certain that it skews it in some direction.
Montgomery County’s and the rest of Maryland’s low unemployment rate should not be taken at face value as all good. It’s not that everyone is working, it’s that everyone who wants to is. This makes it really good for job-seekers, but not very good for companies who may want to hire. Many people also just live in Maryland and work remotely in a place where they could bring in much more income, such as New York City. This means that there isn’t much growth or expansion going on in general. Still happy to live here!
4:05 Liberia spends 3.5x as much as the next highest country (Saudi Arabia) on lobbying in the US. Why so much, and why Liberia? Totally surprising
The current economy is unnecessarily tougher for some most people, myself included. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market. Plus inflation is already catching up with my $310k portfolio. I’m really worried about survival after retirement.
The government has let us down; just buy gold.
Agreed! this is why I work with one. My $520k portfolio is well-matched for every market season yielding 85% rise from early last year to date. I and my advisor are working on more figures for this year. IMO, financial advisors are the most sought-after professionals after doctors.
Mind if I ask you to recommend this particular coach you using their service?
Stacy Lynn Staples is the licensed CFP I use. Just research the name. You’d find necessary details to work with to set up an appointment
Thank you for sharing, I must say, Stacy appears to be very knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
You have to make a video on the affects of potentially eliminating income tax and replacing it with tariffs
The National Mall was never a suburb. It’s a public park, and it has always been at the center of the District.
This video would’ve been much more interesting if it was about the DC metro and not DC alone.
Agreed. I was really surprised that there was so little mention of Virginia and Maryland. The video I felt focused much more on the political control Congress has over the city. But from an economics perspective, you can't talk about the economics of the area without addressing Northern Virginia and Southern Maryland.
Dude seems weirdly focused on specifically tying into the hard lines and not how things are connected
Making it a state defeats the purpose of separated district. As influential as the city is, the idea of granting statehood would prove to be quite slimy
I've heard that Washington DC is basically one of the most dangerous cities to live in in the country now. There's so much crime there despite it being the capital of the country. I mean if that's true that's just really sad
Don't conflate equal opportunity with equal outcome. America is the land of opportunity, not guarantees. Poverty is to be expected for those who do not work and our social programs exist to help.
How do you explain the poverty of full-time employed people? 😂 America works to exploit its most vulnerable to the benefit of the wealthy first-and-foremost.
You must be young. Nobody who's lived here for more than a couple of decades could experience life here & not recognize how things really work.
The U.S. deficit is almost 10% of gdp. Interest on debt and military make up roughly 50% of tax revenue. The game is almost over
Social Security and Medicare are a larger liability as well. We have too much reckless spending.
@@stevebohutch Those liabilities were supposed to be self-funding, just like the USPS. Economic realities made that difficult, but interference from Congress and borrowing from them made it basically impossible (for the USPS, too!). If we undid and repaid all that, it _might_ put them back on track for a while, but eventually, we'll have to prop them up.
Japan has a debt to income of something like 460% of GDP the last figure I recall. The US is at like 110% (on par with your 10% deficit number) debt to income and we are the world reserve currency, and they often just push their economic issues onto the rest of the world. The game is far from over if you live in the US.
I know it's not really how this series is set up, but imo you can't really look at DC's economy by itself. The DMV is highly interconnected. And, sure, almost any city is interconnecred to its suburbs, but DC is different than most. Several of the counties that are DC suburbs, Fairfax, MoCo, and PG, are individually more populous that DC itself
I'd be interested in the economy of the Square Mile for a similar reason.
Productive and DC should not be in the same sentence.
I found the list of companies listed as having headquarters in DC to be interesting, but it's inaccurate. What you'll find is most large private companies are located in one of the adjacent States. You'll find most companies in the area that do business with the government to also be located in one of the adjacent states. This is probably to make sure they have at least somebody to lobby for them when the time comes around. Ironically, even though all of Congress is in charge of the District, nobody treats it as something they own.
This video is packed with so many just factual inaccuracies it's mind blowing
Economics will have zero effect on whether or not its a state. State governments have power, all be it less, but it still adds sands in the gears. The powerful there like the fact they are a self governing kingdom in all but name.
I don’t think dc was meant to have a population with American citizens due to how the constitution talks about dc being a government specific area the federal government holds. It’s likely why the Virginia portion of dc left Washington DC prior to the American civil war. While it creates a legal problem to make dc a state governing municipality, it honestly should happen with purt Rico getting statehood, the Jefferson region of California becoming a state, and east Oregon getting statehood seperate from the portlandia coast which would politically balance it out.
You need to do the state of Maryland where all the rich corporations and billionaires “incorporate” their businesses and charities even though they don’t live in the state. I guarantee you there’s so shady business going on there!!
The economic crisis and downturn are all the signs of 2008 market crash 2.0, so my question is do I still save in the US dollar or is it okay to move all emergency and savings to precious metals??
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
How can i get started when it comes to investing and passive income?
Just research the name Annette Christine Conte . You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
4:51 Vermont is replaced by New York
I think there was a hostile takeover involved 😉
Make a video on national capitals and their economies!
I‘d live to see you revisit your national leaderboard with some sustainability metrics such as human development index, climate risk or consumption/availability of natural resources
What's going on here?
Corruption. Lots and lots of corruption.
That fact that you have NY and CA above FL and TX on your state rankings is ridiculous. People are fleeing those top two states.
Recently seen another video about Serbia currently having the best growth in Europe. Would be interested in seeing a video on why.
Why did California do so well in your list?Because australians love california question answered done
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..
Assets that can make one successful in life
I. Forex
2.Stocks
3.Shares
You are right.
But I don't know why people remain poor due to ignorance
The world is gradually moving out of the I work for my boss era, and people who choose to be entrepreneurs are highly securing a brighter future for themselves..
Would be interesting to add some more metrics to the leaderboard. Equality, sustainability, and use cost of living normalized values for at least GDP/capita
12:37 it not legislation that makes the difference it’s just that people who are more stable and productive people live in Maryland not Virginia. Probably because of public perception of the two states.
My main concern is how to survive all of these financial and political crises, especially in light of the US political power scuffle. The government has really called things more difficult for its citizens, and we can't sit back and bear all the consequences of bad governance.
Bad Moskal. No vodka.
Thanks gentlemen
9:47. D.C. is actually approaching 68 (so close!) square miles.
Careful mixing up "square miles" and "miles squared"
6:40 minus import
So many of D.C.'s problems would be solved if it was treated like Vatican City. The only permanent residents/citizens of VC are employees of the Holy See. If the only people who were "residents" D.C. were Federal Employees, it would fix nearly every economic/political challenge the District faces. Elected officials and their staff would remain citizens of the state they represent, and Federal Department Employees working at the in-District offices (ex. DoJ, FBI, NSA, etc.) could choose to either remain citizens/residents of their home states, with all the rights and responsibilities of residents of those states, (voting/representation specifically), and be subject to those states economic policies (like State Income Taxes), or to "move" to D.C. Of course, if Federal Appointments were term-limited (#EndTheDeepState), they'd also be motivated to keep up a connection to their home states, so they'd have somewhere to return when their tenure as Federal Employees ended.
Where is Liberia getting the money to lobby Washington??
From US foreign aid.
This is a joke. I don't actually know where they get it.
Honestly IMO DC should only be government buildings and government jobs. Make it that the only reasons you're in DC is to be a tourist or because you work for the government.
Yeah but what about convenience stores etc? Should those also be owned by the government?
So you'd just evict all the people who live there? Go to school there? Raise kids there? Staff the hospitals, emergency services, etc.?
@@wanderlustwarrior again its a 10 mile square you can have all those things outside of the square (heck if its now only the government buildings you can probably shrink it.)
@@Jasonwolf1495 so your answer is yes, then. You'd evict my friends who have been there for generations, to make it be what you want it to be.
Did I just witness that Liberia spends more than any other country on lobbying in DC?????
People try to predict the economy not realizing it is not a capitalistic market, its a command economy, central planning! my concern is, instead of having much dollar in bank that could lose value to inflation, do I save in gold to reserve and grow wealth for now, or just hang on?
Wouldn’t the best way to measure how an economy is impacting the people is to measure how much is spent on or for the people? What every residence buys or is given by the govt?
If a company is making $30b a year HQ in a city / metropolitan, if it only hires 10 people locally then isn’t the impact only what those 10 people made plus the taxes paid by the company? All other gains in the busyRr going to people elsewhere and or govt revenues elsewhere
Almost every "industry" in that city are grifters... takers not makers. When you live off the government that isn't being "productive" because it's stealing money from others via taxes.
Also DC's big problem is that they don't allow buildings over a certain height, which means density is not what it should be for the size of city it is. This makes all of the real estate there inefficient and expensive.
lobbying whenever hear that mind goes bribeing
except that would be incorrect.
Definitely more complex when you consider that teachers lobby almost any profession in the US does.
They should ask Israel on who does lobbying for them... Oh boy, teachers would have finally livable salaries. @@seanthe100
It isn't bribing at all. Lobbying is just when people meet with politicians to convince them to support an issue. Now, the more money you have, the easier the access is. But it isn't bribing, and there are lobbyist for positive things like green energy and workers issues.
Lately I feel the creator is going over the text too fast and is not into it as he used be. Of course it's understandable but it would be awesome if he acknowledged it and changed back a bit.
Also, what happened to EpicEconomics?
IBM is not based in DC, it’s based in Armonk, New York
Capital one is based in McLean Virginia
At least have accurate examples
5:25 when was this stock video taken?
*lobbying funds on the books
most lobbying isn't direct donations, but rather parties/ contracts/ policy...
@5:24 - that is no longer part of the US Navy; it is a museum ship. (USS Intrepid - Hudson River, Pier 86, NYC).
RUclips ads going meta - got an ad break in the middle of the sponsored ad within the video.
Make a video about Moldova, Belarus and Bulgaria
I love DC when I visited, I would def live there, also tech jobs and funding is available for entrepreneurs. Great city imo.
There is not any place that does not have inequality
We need a MUCH larger House of Representatives with many, many more congressmen. Putting a new Capitol in the middle of nowhere out in the square states area would have many, many beneficial effects.
Ah yes. Make an already bloated government even more bloated.
@@P_Petkov Lol, someone always makes that mistake. Would you rather the country be run by faceless bureaucrats who constantly scheme to get more budget? Or, would you prefer a Congress person with the Constitutional limit on constituents so you and your neighbors would have a chance to ensure he is working FOR YOU?
I think government would shrink quickly.
@@P_Petkovthe USA government does very little compared to most other developed countries, it’s not that bloated
@@Phyt5Right, conservative America's extreme libertarian bias makes our government relatively understaffed and underfunded for a country where our daily life doesn't involve separate negotiations with strongmen-led local gangs. I've lived in the weak-state libertarian paradise of Subsaharan Africa where the low tax payments causes political apathy due to lack of popular investment in the community, creating a power vacuum where paying fees and "fees" is expected.
@@doujinflipLOL, and where would that be? Because the overwhelming majority of African countries have sky-high taxation, even worse than South America, nevermind their insane regulations meant to hinder any business that doesn't "grease" the "proper" hands.
In fact, I don't think there's a single African country catalogued as a tax haven, unlike "failures" such as Singapore, Ireland or Panama.
Sounds like DC is a microcosm for the larger nation.
Loudon County VA...
If you've achieved any financial security, savings, owning a house, a pension.... you'll find these are going to be a financial burden around your neck..... they'll tax you to oblivion..
In light of the global crisis, rising inflation, and economic instability caused by inadequate governance, stocks, ETFs, Mutual funds, and REITs, assets can serve as a viable path to achieving financial independence
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
Please who guides you on the process of it all?
She's known as a 'Stacy Lynn Staples'. One of the finest portfolio managers in the field also widely recognized. Just research the name. You’d find necessary details to work with and set up an appointment.
You should do Colorado next.
Washington DC becoming a state would give give a popukation of public servants and lobbiests disproportinate representation in federal politics. It would be a terrible idea to give a concetrated zone of special interets even more influence.
Except the population *isn't* all public servants and lobbyists. And those lobbyists actually come from the rest of the country.
@@wanderlustwarrior And yet the relatively high volume of people in these professions will still create the effect. Make it a state and lobbyists will emigrate for certain.
DC should never become a state. Making DC a state means the federal gov encroaches on state power. Don't need more of that. Someone above said make all of DC the national mall, make the president and their family are the only residents, and effectively making the city a district. All the jobs stay the same, utilities are in a public federal utility company as is the security forces, etc to continue business as usual. Voting rights for the citizens there would have to be figured out as well. Maybe congress rights in a law that the people living there presumably still have voting rights under the District of Columbia, even having a non voting representative for the people there like Puerto Rico does.
What about basel stadt? It's a subnational economy with 240k$ gdp per capita
4:10 I wish the sources were in the description. It always irks me when sources are not cited in videos that are making claims as true. Also for the chart... is it annual spending? It doesn't specify.
In this particular case, I am surprised not to see Israel on this chart; it spends a tremendous amount on US lobbying and receives more financial support from the US than any other country.
Edit: I found the chart but it took a couple minutes and it only lists those countries. To see Statista's sources you need to create an account which is ludicrous. Sources must be transparent and accessible to everyone.
he's a known zionist
4:10 there is definitely a well know foreign nation lobbying group missing from that chart
0:50 If only Washington was as 'productive' as a casino.
Maryland lent a small amount of their own space to create not even a city, separated from all states, because no state shall ever have sole authority over the federal government center. A couple hundred years later some random guy: What about making this small district a state?
supplement: Do you know this district used to be square, but Virginia decided to take their part back?
Believe it or not, sometimes things change over a couple hundred years. Any decision that old should be reconsidered.
@@ZCSilver sure, but merely reconsidering something doesn't mean it needs to change. In this case, there isn't much to reconsider, the problem of representation is a direct result of it being a city, with people to represent.
Ahh yes a random guy who is actually 700k people paying federal taxes without federal representation
10:20 Krongus
Give most of it back to Maryland. The other half was given back to Virginia.
Looking forward to your take on Michigan
that's not a city
✋
The belief that the Federal Reserve would stop raising interest rates was the driving force behind the entire economic chaos. What should we do now that we have a situation where interest rates are crashing? At this point, how would you suggest that I safely allocate $300k?
Although the market is currently volatile, aren't the current valuations a result of the Federal Reserve's monetary policy and low interest rates? Therefore, my recommendation is that you consult a financial advisor who can give you entry and exit points for the shares that you are interested in.
Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.
How can I participate in this? I aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Vivian Jean Wilhelm" I've worked with her for some years and highly recommend her. Check if she meets your criteria.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
government be like give more money to the banks and mega corporation. Also Government penny's for the American people and less on American families. how many times we do this now, we have about 100million people on a verge of homelessness or being a debt slave to the banks. That's why many young people are not having kids because everything is expensive and not a good place to live.
Except stats show otherwise: the wealthier people are, the less children they have.
Besides, you people voted for it: Obama's first term could be argued that it waste a surprise, but his second, as well as Biden's, cannot. Big State will always put their cronies ahead of everyone else, that's how they keep being Big State.
"The Broken Economy of Washington DC"
Brasilia wants to have a word with you...
It's not complex, its corrupt. (A DC resident here)
a magical place where statistics dont work.
There is no way they can claim to be the land of equally distributed opportunities for all.