It's time we end this myth once and for all. PRESIDENTS DON'T HAVE MUCH CONTROL OVER THE ECONOMY. GET OVER IT. Have a nice day. I love you. Oh yeah, the sponsor stuff: To get 10 FREE meals with HelloFresh, use code MRBEAT10 at bit.ly/3XYQG3O ! Applied across 7 boxes, for new subscribers only, varies by plan.
It's almost as if we'd have a better world if people understood these basic but very important points, thus less blaming and more negotiating. Hope this video goes viral.
Congress treats the economy like a political football. That's why they desperately hold the power to set the debt limit; so they can blame the President for something he has 0 control over when it's politically convenient.
Wow it's almost like the issues facing any country are systemic and cannot be blamed on any one individual person but rather the collective impact of flawed institutions
Nah I don't think it's anything to do with the institution being flawed. It's the people voting for the people in the institutions. We are extremely divided. In a democracy when the voter base is very divided it's almost impossible to get anything done because they'll be voting for people that want such drastically different things that they can't even really negotiate. We have to accept that it's our fault. We don't want to come together and fix issues. We want to blame one another.
@@TheSickGman09but that’s the fault, of the institutions. the United States has a very bad way of electing representatives, via first past the post, meaning that in all cases two parties will come on top, so it becomes who’s the least worst option. that’s the issue with the American political institution, and also just radical miseducation and lack of education on civics and politics
Then you can easily answer this does the president create negotiations and trade deals??? And don't those directly affect the economy?? 😂😂😂 destoryed you, the president can affect the economy and a bad president can PHUCK tge economy
@@Generaloliverswanik The President CAN effect the economy but there's a lot of different factors that effect the economy and so you need to question if it was in fact the president's doing, or whether it was the doing of other private practices or even other parts of the government. Also, this destroyed rhetoric is stupid and leads to nothing but pointless screaming and no solutions being reached.
As my AP US Government teacher told our class the first day; which stuck with me (went to a Catholic HS): "they removed home economics and civics from public schools as required classes, to keep the hoi polloi financially illiterate and politically disengaged."
I don’t know Mr. Beat… I met Joe Biden before he became president and he said “Guess what Jack? First thing Imma do when I get in there is hit the big inflation button that’s under the desk.” I tried to tell him not to, but he just wouldn’t listen.
First of all, they're not called 'little people' anymore. Secondly, they have the same mental capacity than anyone so don't be so surpri- Oh, I missread that
@@iammrbeat I think one should separate the economy into two categories and analyse them separately. Domestically, there are people more competent in managing the economy. However, I think one fails to realise how interlinked the U.S. economy, or almost all economies in the world, is with other nations. With a strong president and a smart foreign affairs strategy that maximises the well-being of the American people, it does influence the import-export sector, which is a great component of the economy. Too often it is the case that secretary of the foreign affairs just wants to look good in front of the domestic voter for future domestic elections, and not do something smart for the country. For example, Hilary Clinton during her years in Obama's term.
This video should be shown in every classroom in America. And a 60 second condensed version played as an ad once per hour on every primetime cable news show.
This stuff should be mandatory in schools. Too many times we see people who make decisions against their interest regarding the economy, the law or another political issue (realistically, everything is political). More often than not, it's simply because they don't know any better. If education actually gave everyone the tools they need to be good, independent citizens, the world might have looked like that eutopia meme that's used all the time (even on this channel once). Speaking of important issues, I think a comprehensive video about ballot measures could be a good idea. You touched the subject recently, but it's so important in this country (even for states that suck with ballot measures), that it should be talked about more extensively. And on that note, I'd love to see a video about SCOTUS decision Hollingsworth v. Perry, that had to do with a ballot measure, California Proposition 8, that's about to be repealed this November. What's more, there may several well-known people involved in the case during its lifetime, that are relevant to present day..?
@@qjames0077but what would you really have people do?? I think everyone intuitively knows that the president or leader of a country does not single-handedly control the economy... But voting for a person gives someone a sense of power, and they will either express disapproval or approval with that vote.
It’s always funny to me when people pick and choose which sides to blame for inflation, as if both of them haven’t spent trillions of dollars contributing to it.
@@trueblade3636 that’s partially true. So is the war in Ukraine contributing to inflation and so is price gouging. All three of these points have some kernels of truth to inflation.
@@TheSignofJonah777large corporations using covid to increase prices past the cost for just inflation, essentially screwing us more just to increase profits. Several large grocery companies bragged about record profits in the past few years. Some people are adamant that this isn’t true, but look at the share buybacks that have also occurred.
@@TheSignofJonah777 price gouging is just a term used by the media so that people will not question the damage the Cojved measures have done. Price gouging happens when demand for certain products increased while supply decreased, therefore raising the prices. However, these products in short supply included surgical masks, N95 respirators, en hand sanitizer. We don't need those anymore. We still have enough basic necessities who were barely affected by thise 'price gouging'. Price gouging had barely any effect on the prices.
@bubblegodanimation4915 you mean like how joe biden and democrats had the majority of congress from 2021 to 2023 yet didn't do anything to address democrats issues? All the while kamala is still blaming trump for things that happened during his administration that her and biden could have changed.
When people complain about the economy under a candidate, I always challenge them to name the policies they think caused those issues. Unfortunately, people can rarely name anything specific.
Or what about the ' Inflation Reduction act'? The Inflation Reduction act increased inflation according to economists. Harris was the tiebreaking vote.
What worries me about Tarrifs is that when President Hoover was faced with a growing recession, he decided that Tarrifs would be a good idea. The result other countries put in their own Tarrifs, and that helped us into the Great Depression.
Tariffs are somewhat unique as it is a specific case of the government putting their thumb on the scale and there's no real other way to argue it, it's direct government interference in the market.
Yeah all they do at the end of the day is raise prices on whatever product you're applying tariffs to. Sometimes they can help (Biden is hitting Chinese EVs with tarrifs right now because they are so cheap that American companies can't keep up and this keeps the prices competitive) but they can also be bad (blanket tarrifs that do nothing but raise prices in general)
That’s a good point. I’ve told friends and family that generally the president doesn’t directly control the economy, but they sure as hell can wreck it (say if they wanted to put tariffs on all goods and has threatened to prevent the fed from being independent). Conversely there is also good policy (which has a lag effect). When you’re voting part of what you’re voting for is future investments. Just stuck that people think the economy is slowly shaped by one person in 4 year cycles. The world would be a lot weirder if that were true.
While I agree with your conclusion as a whole, it's wrong to say Trump didn't have anything to do with the "Covid recession". Covid was as bad as it was because Trump fumbled around in the early stages of the pandemic; throwing out the pandemic playbook that he inherited, etc. It isn't unreasonable to say that many of the 1.2 million deaths in the US were because of his poor response early on.
Yeah that’s what I was thinking about, pandemics are more controllable than the economy I’d imagine and better handling definitely woulda lessened the economic impact
Most countries overreacted to the pandemic, with notable exceptions like Sweden. Politicizing the response was notably dishonest, with Democrats going from denouncing quarantines on China as racist to doubling down on social distancing.
The moment Trump suggested ingesting bleach, his presidency and political career was effectively over. Later, he incited a January 6th riot, so he really wanted that coda.
@@johnchedsey1306 Considering that the “ingesting bleach” was a question by a reporter, not a statement by Trump, your grasp of the riot on J6 is probably equally thin. Pelosi blocked the use of National Guard forces that day.
thank you man, you made me realize people saying that the president had a bad economy is a bad argument. honestly one of my favorite teachers I’ve had of all time.
Don't let him pull wool over your eyes, he's clearly got an agenda. Biden pulling the plug on the Keystone pipeline and doing a power grab by banning new oil fracking leases for public lands, both by executive order and mere days in his presidency, and severely decreasing said new leases once a judge deemed that ban unlawful is to blame for the US energy crisis, which paired with the covid recession maimed the US economy. Unlike many other countries, the US always enjoyed lower gas prices and in these years of crisis he decided to undercut domestic oil drilling all in the name of fighting climate change.
I don't really understand all this keystone pipeline stuff idk whats going on in politics very much, higher prices admittedly suck but climate change sucks worse, so I'm sure it's not all bad if its for the environment
@@evanepic3599 the reason why their higher prices is because we rely too much on cars and too much on gas for our energy. if we had walkable cities and good public transportation we wouldn’t need that pipeline. on top of that theirs evidence it was gonna be build improperly.
Honestly 'I vote on the economy ' seems like a dodge to me. It's looking for a reason to vote for whoever you already like more for other reasons. For both those on the left and right
If you look at the global inflation from 2021-2023, it’s almost a direct parallel with the US inflation. And if anything, we are currently way outpacing other G7 countries in their goal to get prices back down.
A large portion of Americans pay no attention to global affairs, they have no idea that Europe handled Covid fallout far worse, the UK economy shows no sign of improving anytime soon
@@nicolasgirard2808 Yep. However the average worker generally believes any wage increase is because they personally earned it as an individual, untethered from larger trends, while price increases are forced upon them by the government.
Of course they can’t directly control these things. Just how the ceo of McDonalds doesn’t make the burgers. But they have a ton of influence in what laws get passed and what direction to push towards
@@night6724 Soooooo you prefer to believe an alternate reality than the way our government is structured? This is not a partisan issue, this is just the way it is
President's definitely have power over the economy, the economy was stagnant for most of Obamas presidency. Then Trump comes in and completely changed that with tariffs and tax breaks, which helped the economy massively. If presidents had no impact on the economy this wouldn't of happened.
Control ? As in total control ? No.. substantial influence that can directly relate to the economy and economic issues.. yes… what are you talking about
@@Alex-ne6fm dumb bot… if you can’t see how interconnected things are then you need to take a step back, this video either takes things to literal, or he’s just to biased,, possibly both.
Love ya Abe but the national debt is not as a huge problem as many think. We use debt to invest in our country. The question is how are we using that money.
The debt isn't as big of a problem as long as we need in public services and infrastructure. I would also have a wealth tax to help balance the budget.
Being the president of a powerful institution that oversees law in America, I think they have some degree of influence over the economy. But the power of that influenced is almost always overstated for cheap political gain. That's my take on the matter.
I tried to tell my mom that no president - Republican or Democrat - has a firm control of the economy. they have powers that can definitely influence, but they don't control housing, gas, grocery prices. All she said was that when Trump was president, things were cheaper. I just dropped the subject because no matter what I said, she would not be able to see it.
It’s crazy how things were cheaper before a global pandemic and trillions of dollars of spending. The president wasn’t responsible for Covid, but both the current and previous presidents are responsible for the trillions of dollars of spending. It’s crazy to me that people want to pick and choose sides on that issue as if neither of them contributed to it.
@@O.Reagano It's something called supply and demand. The more of an increase of a price the less people will purchase the product. Companies don't just magically get richer whenever increasing prices. They set the price to maximize profits.
@@TheSignofJonah777 Supply and demand analogies don’t work when the market as a whole just agrees to increase prices. Kroger admitted they were price gouging a few months ago due to people being used to Covid prices. Along side that if Kroger was the only one gouging, you can assume a lot of retailers are. If every food retailer is gouging the price, you can’t just not buy it. People need to eat and buy groceries, so they’re forced to still pay these prices.
I think one of the best ways to be a conscious voter is to remember the ways in which all elected officials actually serve us. The president is not a god, or a king, or a superhero. They wont fix everything. Your mayor wont make your town better. Your governor wont solve all the problems across their state. Having one more congressman than last cycle wont drastically change the world of politics. Each official does roughly 1-3 things, with the president doing even more. But thats it. We have to remember that they are people. And the things they do will help up, but they themselves are incapable of doing so alone.
No one "controls" the economy. We're NOT a command economy. However, there are things the chief executive can do to influence it. Tariffs being one thing. Trade deals being another. Most economic policies are handled on the legislative level, not the executive.
longtime mr beat fan, i cant help get the feeling the most recent videos he makes are geared toward people turning from one party to another in terms of voting preferences. i dunno
@@iammrbeat again huge fan and love the channel- but with a word as big as the economy you are correct about the executives branches effect on it. its like a gigantic ship, it can't turn left or right so quickly. but there are effects that can be long lasting or effects that are felt shorter term. markets react to decisions made today and that has a ripple effect on peoples perceptions and peoples optimism or pessimism has a ripple effect back. The Inflation Reduction act has indeed affected the overall economy. making a point that the executive branch doesnt 'control' the economy is true but at the same time, it does affect it. and if people are feeling bad in terms of the economy and want to make a change that's fine. i think pointed videos like this indirectly try to diminish the real argument against one of the political candidates running now. i know youre a right of center person who doesnt care much for the current republican candidate, i agree with you his moral character is lacking. but this cuts right against one of his 'main' arguments for candidacy. i think people can watch this video and turn from the 'change' candidate to the incumbent (kind of). i think your voice has weight, and this might sway a few people to vote D over R, when the reality is- on this topic- its much more nuanced.
Actually the president has a huge impact on the economy. They set Tax policies, wage or end wars, regulate the market, decide on government expenditures and loans, etc.
@@hhaa3728It's the president that set the policies and he has the bully pulpit as well, but yeah a president without congress support is far less effective. Then again you have to wonder why did he placed himself in that position (usually by his own failures).
yes, the video is branded a bit misleading. a president doesn't *literally* control really anything that's fundamentally important to American governance. but that is not to say that POTUS has an immense impact on it via executive orders. not to mention that Biden had a completely blue congress for 2 years, so he indisputably had 2 years' worth of time to spearhead the legislative changes he promised in office.
You got most of the basics but… Most economists agree that inflating the currency supply is not only the cause of price inflation, but, according to Milton Friedman, is the definition of inflation. This is impacted by deficit spending (appropriations and taxes) and by interest rates. In April-May if 2020, the M1 money supply nearly quadrupled, from about $4T to over $26T, then continued to coast upwards for the first 2 years of the Biden administration. This is the most impactful cause of recent inflation.
Nah man I swear the president had two big buttons on their desk, one for making green line go up and one for making red line go down. What’s the presidency for if not for that?
There are too few companies competing. It is too easy to set higher prices and your competition will do the same. Look at the increased profits over the past few years.
Price gouging has actually done barely any effect on the prices. Small companies have gone bankrupt because of the inflation done by the measures. I am not saying it was not a factor, but it was a small factor. Demand for certain products increased while supply decreased and these products in short supply included surgical masks, N95 respirators, en hand sanitizer. We don't need those anymore. We still have enough basic necessities who were barely affected. Covjd measures hugely affected the prices though.
@@vmccall399 Inflation always benefits the big companies. So we stop inflation by stopping government spending. Not by regulating the economy. That would lead to more government and less power in the peoples hands.
@@iammrbeat i can tell you actually try to be unbiased on RUclips and it’s a great channel to learn politics for the most part. The streams definitely get more biased but the pre recorded videos are pretty damn good most of the time. Maybe it’s a spur of the moment thing where the bias shows but the RUclips channel does pretty good at sticking to the cold hard facts probably because most fat in the videos gets trimmed. Or maybe at least you can explain your self so it sounds less wild when you say something like the electoral college should be gone. It also is just a different format to share information on so maybe it’s just perception. Idk ultimately, and I’d hate to speak for you but it almost feels like 2 different people lol
@AydenDonley My concern is that when people say unbiased, they mean they want to hear both sides of an issue which isn't inherently bad but ends up sliding into treating more fringe ideas as equivalent to more mainstream ones by treating them like they are equal. Regardless, I don't mind listening to different ideas and perspectives provided that they can be backed up.
@@Fringe31422au yeah I guess that’s a problem with people when talking about almost anything but it’s definitely possible to just show the facts and not inject your personal beliefs into the narrative. You can always represent both sides of a narrative or you can heavily focus one one side of the story but he does a pretty good job at being somewhat equal on his videos especially the historical stuff he does and that’s really all you can ask for
South Park said it best... the economy is controlled by a headless chicken😂 In all seriousness, the economy runs on vibes. If everyone is feeling good economically, the economy will be doing well, vice versa. It's very unpredictable and mostly controlled by the masses and how they feel.
“The economy runs on vibes” is possibly the stupidest thing I’ve ever heard anyone say. You can’t just “vibe” a good economy into existence because you want one.
@@scottblubaughPeople spend based on vibes. If you widely claim.a recession is imminent even if its not, and people believe you, it can be a self fufilling prophecy
@@scottblubaugh Individuals can’t, but the population as a whole certainly can have an impact if a large enough segment of them act in concert. Of course this is only one of the factors which drives the economy.
@@scottblubaugh"Vibe" might sound stupid. But it indicates confidence in spending... You might have money but doesnt like to spending it... the economy going down the drain as well. And still you might have no money, but still somehow finding means to spending (i.e. taking debts), the economy will be doing great.😂
Hard disagree on this one, you are arguing with a strawman for most of this video (only a very uneducated voter believes the president has 100% control over the economy and can just decide the price of gas/groceries/inflation on the spot) but your underlying point that they have very little control, or that multibillionaires have more control is straight wrong. They as an individual have more control than anyone else and you totally ignore their ceremonial role as the leader of the party. They often can heavily influence fiscal policy of the senate and governors in their party. Just because they don't control the pursestrings doesn't mean they don't have a lot of control over the people who do. As a thought experiment what if the president decided they wanted to crash the economy vs if Warren buffet decided the same? The president could have trillions of dollars printed and set the interest rates how they please and set tariffs to anything they want. They could tell their party not to pass a budget and shut down the government. They could provoke wars all over the world (even if they can't declare one they could get one declared on us). Hell they could just launch the nukes if they please. Look at Trump's campaign platform this time around. He wants to deport 20 million immigrants (12% of the U.S. workforce) and put a 20% tariff on all goods from all countries, the idea that a Jeff Bezos or someone could do anything on that scale to impact the economy seems very unrealistic.
@@iwatchyoutube523 which part? Preseident can 100% do the tarriffs . Executive branch also has control of the military and enforcement of federal law so the president can 100% us the military to punish people violating federal law which illegal immigrants are. Both of these things are very clearly spelled out as things the president can do no legalese or mental gymnastics needed.
I remember that part in the Constitution: "a President will be the supreme chief of the Economy of the United States, and no general can overpower their decisions."
Actually he helped bring inflation down by enacting the inflation reduction act. Inflation was up all over the world, but went down in the US faster than any other country thanks to Biden. Have you been paying attention at all?
When I see episodes of Mr Beat, Alien Super Show, Mr Ballen, and The Why Files my heart says _yesssssssssssssssssssss!_ Good to see you, and thanks for the time and dedication you always show. 🏅
@@ryanmccolloch4734 I think saying that presidents don't control the economy when they have a lot of tools to their disposal, plus it is implied they have their party support so at least 1/3 of congress
@@ryanmccolloch4734 I’ll give you an accurate example of why Mr beat is a biased liberal. When Biden took office he cut the keystone pipeline, which caused the barrel of gas to go up from 45 dollars, to 125 dollars a barrel. When the gas prices increase this has a total effect on the economy. For example, the truck delivering the goods, has to charge the company he’s delivering the goods to more money, because his gas is much more expensive. Which causes the store, who bought the goods, to raise their prices, because the truckers are now charging more for gas. This has a complete domino effect
Dude youre heavily underplaying the president role. Sure they do go individualy and hire every person to "create jobs", but they name the secretary of labor and decide government expenditures. Those are huge factors. It baffles me how you dont see this.
That’s fair but those positions are delegated because the president cannot reasonably have total awareness and engagement with these departments, regulations and roles. Bro I can barely manage more than 2 hobbies lmao. And ultimately, American economic performance exists within the overall global economic paradigm. Booms and busts are feature of capitalism and the entire world feels those cycles. As the market has gotten more global and more complicated it becomes less and less fair to pin economic success or failure on the President.
@@adamyooz The president is responsible for the people he surrounds himself with. That's why when you vote you should look not only the candidate, but his inner circle and the people that supports him/her.
@@ramonserna8089 I don’t disagree. I’m just identifying that there are degrees of separation that make the working reality of governing more complicated than just “it’s your fault.” It’s better pinpoint specific policy failures or perverse market incentives than it is to just blame the president. That’s the only way you can get a handle on what can be done to solve the problem
@@ramonserna8089 The Secretary of Labor doesn't really have any more powers than the President on anything first off. Second, yes the President does propose the budget and is supposed to set the legislative agenda, but that is only if Congress decides to go along and more often than not, they don't and even when they do pass a law it often isn't as good as they wanted.
@@whattheydidnttellyouwithbr2844 1. Exactly my point. The secretary of labor has a huge impact on job policies and he is bellow the president. 2. Congress can deny or approve a budget as part of check and balances, but the president is the one that makes the budget therefore he has more power in that regard than anyone on the government.
Trump? The guy who turned the javits center into a hospital while the governor was dumping bodies onto hart island and the mayor that was giving you cheeseburgers and fries for the vax. Give me a break.
So wrong. Who appoints the fed chair? Who manages foreign relations including trade policy? Who manages the border that has a tremendous impact on labor supply? Room temperature iq take.
That’s what I’m saying… total control? No… saying he doesn’t have any control/influence/impact and you shouldn’t vote based off the current state of the economy is just ludicrous… everything is interconnected, and foreign relations alone, we are in a terrible state that is destroying our own pockets.
@@bballplyr80 I’m trying to understand where you’re coming from, which foreign relationship is ruining our economy right now? And also isn’t it reasonable to assume that even if Biden was destroying foreign relations, it would take; a least a while to effect our economy?
@@blueyoshi4211 how many billions of dollars did we just send Ukraine? And also the war in the Middle East in which both sides, we are funding for so long now.. just more money going out from America for death and destruction and less helping the American people that actually need it… and yes.. we can’t control weather or hurricanes or natural disasters, but we are clearly unprepared for this hurricane season, while FEMA only sends out 750$ of aide to our own people… money which could in turn be used to help our people and be thrown back into our own economy, not just wasted away in senseless war
When I got my undergrad in economics, one of my professors told us the most frustrating thing about studying economics will be talking politics with people and she was so right. I appreciate this video so much
@TheSignofJonah777 No, that's not the issue. The problem comes from how you react in the first few weeks of an outbreak. Diseases spread at an exponential rate, so the solution is to nip the issue in the bud as fast as possible, because once it begins to spread, it cannot be reeled in. Trump should have recognized this and ordered mass quarantine immediately like China did, especially since he was briefed during his transition period about the seriousness and likelihood of a respiratory illness outbreak in the next decade by the Obama administration, even if it means shutting down the economy for a couple weeks to allow the few people who got sick time to recover and then the disease stops spreading instead of saying "we're at 15 cases right now, before you know it, it will be 0" and doing nothing to guarantee that. And then the rest of the world would have followed suit with whatever America does, because if America, the economic and transportation center of the world, shuts down it's economy for a couple weeks then everyone else will too. But if America doesn't do anything and doesn't enforce travel bans immediately, then other countries won't either because, what's the point? The disease is just going to continue to spread because the most powerful and most-traveled-to coubtry isn't doing anything about it. This is the reason why we never had a massive outbreak like this with ebola or bird flu because Obama took those seriously and even sent the military to foreign countries to fix the problem before it got to the US. And then everyone mocked him for "making a big deal out of something that turned out to be nothing" even though it was BECAUSE he made a big deal out of it that it turned out to be nothing. It's a thankless job, but someone with good moral integrity has to take responsibility for it and do it even if it causes a temporary dip in approval ratings because the populace is too ignorant to understand that they just dodged a bullet. Obviously, that isn't the kind of person Trump is.
"the poor response to the pandemic that caused the recession" I agree. But why you blame Trump? Biden and the Democrats have done a poor response to the pandemic that caused the recession. Trump was out of office
Just what I needed to send to some of my Trump supporting relatives who are voting based on the 'economy'. Of course, they are probably using 'the economy' jingle for a euphemism but oh well.
Most Trump people who say they are voting on the economy actually aren’t. The fact that they didn’t already do some research on it themselves, which would have taken a 5 min google search to prove Trump isn’t better economically than democrats, tells you everything.
According to an AP News post, the Inflation Reduction Act had little impact on inflation one way or the other. Most of the provisions of this Act have only started being implemented over the past year; this is a long-term investment. According to PolitiFact, Republican claims that the Act increased inflation are “mostly false”: “Inflation has fallen steadily in the two years since President Joe Biden signed the Inflation Reduction Act into law. The law is not responsible for that decrease, but it did not worsen inflation. The American Rescue Plan, which Democrats including Sen. Bob Casey, D-Pa., passed a year earlier, likely contributed to worsening inflation, but it was not the sole cause.”
It seems like the party as a whole has more to do with the economy and usually over a longer period of time than a single president for sure. The government should be a referee and not so much a player.
It would be nice if all the genius Trump supporters blaming Biden/Harris for inflation and saying how the economy was sooo much better under Trump would watch this. But they absolutely won’t.
It's time we end this myth once and for all.
PRESIDENTS DON'T HAVE MUCH CONTROL OVER THE ECONOMY. GET OVER IT.
Have a nice day.
I love you.
Oh yeah, the sponsor stuff:
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Presidents are nothing. In usa the real power is in hands of 6 conned star
Presidents are nothing in usa,the real rulers are star people,choosen ones
Never lose your smile
Well well well well
The real power in usa is in hands of udaism
Hang on, I thought the president had a button on his desk that said "raise gas prices" and his job was just to press it until we got mad at him
lol
Actually the button is in Saudi Arabia 😂
They haven't yet installed the Lower gas prices button, that thing should have been a dial
@@warlordofbritannia good to see people know what they are talking about in a RUclips comment section
@michaelsotomayer5001. It's always nice to see satire in the comments. 😊😀😊
It's almost as if we'd have a better world if people understood these basic but very important points, thus less blaming and more negotiating. Hope this video goes viral.
It can start with people learning about civics.
The depressing part is that many powerful people have a vested interest in keeping people *uninformed*
It can start by civilly/respectfully correcting correcting people.
why is your comment 12 hours old?
Glazing (I agree)
Congress: I have the power of the purse
Also congress: I blame the president for all of the problems we fail to address
President have no power unlike jews
This checks out
Biden would not sign off on a single repiblican piece of legislation that came out of the house.
Congress treats the economy like a political football. That's why they desperately hold the power to set the debt limit; so they can blame the President for something he has 0 control over when it's politically convenient.
Don't tell me junior high school level social studies stuff man, we adults here!!!
This is all wrong.There's a do inflation button and a gas price slider in the oval office. Everybody knows that.
😄
There is a inflation button actually. It's the print money order and all president have it.
Wow it's almost like the issues facing any country are systemic and cannot be blamed on any one individual person but rather the collective impact of flawed institutions
That both parties took turns to run.
Nah I don't think it's anything to do with the institution being flawed. It's the people voting for the people in the institutions. We are extremely divided. In a democracy when the voter base is very divided it's almost impossible to get anything done because they'll be voting for people that want such drastically different things that they can't even really negotiate. We have to accept that it's our fault. We don't want to come together and fix issues. We want to blame one another.
And THAT'S why we need someone to clean up the swamp or something like that idk I just wanna deport some immigrants
@@TheSickGman09but that’s the fault, of the institutions. the United States has a very bad way of electing representatives, via first past the post, meaning that in all cases two parties will come on top, so it becomes who’s the least worst option. that’s the issue with the American political institution, and also just radical miseducation and lack of education on civics and politics
@@TheSickGman09 Look up "gerrymandering"
I'm an accountant and you would not BELIEVE how many times I have to tell people THE PRESIDENT DOESN'T DIRECTLY AFFECT THE ECONOMY
Keep telling people that. They apparently aren't learning it in school.
@@iammrbeat could not agree more
Then you can easily answer this does the president create negotiations and trade deals??? And don't those directly affect the economy?? 😂😂😂 destoryed you, the president can affect the economy and a bad president can PHUCK tge economy
@@Generaloliverswanik The President CAN effect the economy but there's a lot of different factors that effect the economy and so you need to question if it was in fact the president's doing, or whether it was the doing of other private practices or even other parts of the government.
Also, this destroyed rhetoric is stupid and leads to nothing but pointless screaming and no solutions being reached.
@@ineednochannelyoutube2651 🤣🤣🤣 so what is it do they or do they not
As my AP US Government teacher told our class the first day; which stuck with me (went to a Catholic HS): "they removed home economics and civics from public schools as required classes, to keep the hoi polloi financially illiterate and politically disengaged."
Don't you mean Personal Finance and Civics? I don't see how failing to learn how to cook and sew affects people financially and politically?
@@Compucles Gen Z has little concept of debits and credits.
Hoi polloi should never be preceded by "the". Hoi literally means "the" so you're essentially saying "the the".
Pretty funny coming from a catholic high school lol
I don’t know Mr. Beat… I met Joe Biden before he became president and he said “Guess what Jack? First thing Imma do when I get in there is hit the big inflation button that’s under the desk.” I tried to tell him not to, but he just wouldn’t listen.
Dark Brandon strikes again!
did he say anything about the Job Button
@@Seinsmelled Yeah he said he wanted to hit that one as well.
Can he at least press the Peace in the Middle East button?
@@stewiegriffin12341 he also told me that he was going to make the McDonald's hash brown from 1 dollar to 3. This is fucking sickening 😢
It's amazing how little people understand how the economy works
It's amazing and...frankly...really sad.
First of all, they're not called 'little people' anymore. Secondly, they have the same mental capacity than anyone so don't be so surpri- Oh, I missread that
@@iammrbeat and that’s why your here to keep us up to date
@@iammrbeat I think one should separate the economy into two categories and analyse them separately. Domestically, there are people more competent in managing the economy. However, I think one fails to realise how interlinked the U.S. economy, or almost all economies in the world, is with other nations. With a strong president and a smart foreign affairs strategy that maximises the well-being of the American people, it does influence the import-export sector, which is a great component of the economy. Too often it is the case that secretary of the foreign affairs just wants to look good in front of the domestic voter for future domestic elections, and not do something smart for the country. For example, Hilary Clinton during her years in Obama's term.
@@iammrbeatI don’t think we learn enough about it in High School
I’ve been slacking as mr Beat’s no1 fan (I’ve been living my life) but I’m back now, and probably stronger than ever so be aware everyone.
JUST IN TIME FOR THE ELECTION, BABY. LET US DO THIS.
@iammrbeat, we would elect you as a president.
@@BrandonHanson as mr beat’s no1 fan i don’t think he would be a good president 🫡
Ok
This video should be shown in every classroom in America.
And a 60 second condensed version played as an ad once per hour on every primetime cable news show.
This stuff should be mandatory in schools. Too many times we see people who make decisions against their interest regarding the economy, the law or another political issue (realistically, everything is political). More often than not, it's simply because they don't know any better. If education actually gave everyone the tools they need to be good, independent citizens, the world might have looked like that eutopia meme that's used all the time (even on this channel once).
Speaking of important issues, I think a comprehensive video about ballot measures could be a good idea. You touched the subject recently, but it's so important in this country (even for states that suck with ballot measures), that it should be talked about more extensively. And on that note, I'd love to see a video about SCOTUS decision Hollingsworth v. Perry, that had to do with a ballot measure, California Proposition 8, that's about to be repealed this November. What's more, there may several well-known people involved in the case during its lifetime, that are relevant to present day..?
I have other plans that I think will have more of an impact, but I appreciate your comment and suggestion. I hope you are doing well, Alon.
@@iammrbeat Then I'm sure you're right about what you have in mind.
I'm great, thank you for asking! I hope you and your family are the same way.
"We live in a freakikg economy!"
-MrBeat AKA The Joker (Jonkler)
Fascinating new nickname I got.
Even on a political youtube channel i still can't escape that sub reddit
Nope
But they sure are held accountable for it
That about sums it up.
Yes they gotta take measures but they are not completely responsible for it.
People just want someone to blame or thank for their economic state and shortcomings
A wise man once said, "A person is smart, people are stupid."
@@qjames0077but what would you really have people do?? I think everyone intuitively knows that the president or leader of a country does not single-handedly control the economy... But voting for a person gives someone a sense of power, and they will either express disapproval or approval with that vote.
It’s always funny to me when people pick and choose which sides to blame for inflation, as if both of them haven’t spent trillions of dollars contributing to it.
The Cojved measures raised this huge inflation.
@@trueblade3636 that’s partially true. So is the war in Ukraine contributing to inflation and so is price gouging. All three of these points have some kernels of truth to inflation.
@@Smellanie4121 What even is price gouging?
@@TheSignofJonah777large corporations using covid to increase prices past the cost for just inflation, essentially screwing us more just to increase profits. Several large grocery companies bragged about record profits in the past few years. Some people are adamant that this isn’t true, but look at the share buybacks that have also occurred.
@@TheSignofJonah777 price gouging is just a term used by the media so that people will not question the damage the Cojved measures have done.
Price gouging happens when demand for certain products increased while supply decreased, therefore raising the prices. However, these products in short supply included surgical masks, N95 respirators, en hand sanitizer. We don't need those anymore. We still have enough basic necessities who were barely affected by thise 'price gouging'.
Price gouging had barely any effect on the prices.
The amount of times a president has control but another president is at fault is crazy as well.
@bubblegodanimation4915 you mean like how joe biden and democrats had the majority of congress from 2021 to 2023 yet didn't do anything to address democrats issues? All the while kamala is still blaming trump for things that happened during his administration that her and biden could have changed.
If only I could get multiple family members to sit down and watch this
When people complain about the economy under a candidate, I always challenge them to name the policies they think caused those issues. Unfortunately, people can rarely name anything specific.
I can! :) The president did put the Cojved measures at place. So the president is (partly) to blame for the inflation.
Or what about the ' Inflation Reduction act'?
The Inflation Reduction act increased inflation according to economists. Harris was the tiebreaking vote.
@@trueblade3636 no, most economists say it had no effect on inflation.
@@trueblade3636
It had no impact on inflation, but it did create thousands of jobs in clean energy.
@@trueblade3636 Correlation does not equal causation. That being said, who you wanna blame for inflation being 2.5% now? Trump? Biden?
Wow another video what a great start to my weekend
THE WEEKND BABY
What worries me about Tarrifs is that when President Hoover was faced with a growing recession, he decided that Tarrifs would be a good idea. The result other countries put in their own Tarrifs, and that helped us into the Great Depression.
Tariffs are somewhat unique as it is a specific case of the government putting their thumb on the scale and there's no real other way to argue it, it's direct government interference in the market.
Yeah all they do at the end of the day is raise prices on whatever product you're applying tariffs to. Sometimes they can help (Biden is hitting Chinese EVs with tarrifs right now because they are so cheap that American companies can't keep up and this keeps the prices competitive) but they can also be bad (blanket tarrifs that do nothing but raise prices in general)
That’s a good point. I’ve told friends and family that generally the president doesn’t directly control the economy, but they sure as hell can wreck it (say if they wanted to put tariffs on all goods and has threatened to prevent the fed from being independent).
Conversely there is also good policy (which has a lag effect). When you’re voting part of what you’re voting for is future investments. Just stuck that people think the economy is slowly shaped by one person in 4 year cycles. The world would be a lot weirder if that were true.
Trump will decimate the economy. Just as we're finally starting to see the light at the end of the tunnel...
Tariffs don't matter as much since we don't manufacture and sell as much now. We are mostly a service economy.
While I agree with your conclusion as a whole, it's wrong to say Trump didn't have anything to do with the "Covid recession". Covid was as bad as it was because Trump fumbled around in the early stages of the pandemic; throwing out the pandemic playbook that he inherited, etc. It isn't unreasonable to say that many of the 1.2 million deaths in the US were because of his poor response early on.
Yeah that’s what I was thinking about, pandemics are more controllable than the economy I’d imagine and better handling definitely woulda lessened the economic impact
Most countries overreacted to the pandemic, with notable exceptions like Sweden. Politicizing the response was notably dishonest, with Democrats going from denouncing quarantines on China as racist to doubling down on social distancing.
The moment Trump suggested ingesting bleach, his presidency and political career was effectively over. Later, he incited a January 6th riot, so he really wanted that coda.
@@johnchedsey1306 Considering that the “ingesting bleach” was a question by a reporter, not a statement by Trump, your grasp of the riot on J6 is probably equally thin. Pelosi blocked the use of National Guard forces that day.
@@tomhalla426 To be fair those denunciations were from the more unhinged members of the media. Vast majority of elected Dems supported the quarantine.
thank you man, you made me realize people saying that the president had a bad economy is a bad argument. honestly one of my favorite teachers I’ve had of all time.
Don't let him pull wool over your eyes, he's clearly got an agenda. Biden pulling the plug on the Keystone pipeline and doing a power grab by banning new oil fracking leases for public lands, both by executive order and mere days in his presidency, and severely decreasing said new leases once a judge deemed that ban unlawful is to blame for the US energy crisis, which paired with the covid recession maimed the US economy. Unlike many other countries, the US always enjoyed lower gas prices and in these years of crisis he decided to undercut domestic oil drilling all in the name of fighting climate change.
I don't really understand all this keystone pipeline stuff idk whats going on in politics very much, higher prices admittedly suck but climate change sucks worse, so I'm sure it's not all bad if its for the environment
@@evanepic3599 the reason why their higher prices is because we rely too much on cars and too much on gas for our energy. if we had walkable cities and good public transportation we wouldn’t need that pipeline. on top of that theirs evidence it was gonna be build improperly.
the other guy deleted the comment lol
@@evanepic3599 their was a other guy? What he say
Honestly 'I vote on the economy ' seems like a dodge to me. It's looking for a reason to vote for whoever you already like more for other reasons. For both those on the left and right
The economy? Maybe not, tropical storms tough
And presidents obviously create tropical storms.
the hurricane machine
If you look at the global inflation from 2021-2023, it’s almost a direct parallel with the US inflation. And if anything, we are currently way outpacing other G7 countries in their goal to get prices back down.
A large portion of Americans pay no attention to global affairs, they have no idea that Europe handled Covid fallout far worse, the UK economy shows no sign of improving anytime soon
That's too sophisticated for the American people to understand
(Too) many Americans think that the U.S. is the only country out there or that matters.
The US is outpacing other countries in our wage growth which has resulted in the real inflation rate for the median worker being effectively 0
@@nicolasgirard2808 Yep. However the average worker generally believes any wage increase is because they personally earned it as an individual, untethered from larger trends, while price increases are forced upon them by the government.
Of course they can’t directly control these things. Just how the ceo of McDonalds doesn’t make the burgers. But they have a ton of influence in what laws get passed and what direction to push towards
No, congress does. Congress passes laws and as we saw with the immigration bill they dont gaf who’s in office they’ll vote however they want on bills
Hello from Denmark :D
Your videos are always so well made and informative :D
They’re garbage
Thank you. Your country is awesome. :)
@@night6724 Soooooo you prefer to believe an alternate reality than the way our government is structured? This is not a partisan issue, this is just the way it is
@@johanandaniel what? The US government structure is fine. And yes government policy not the president personally does influence the economy
@@johanandaniel if you believed that then why even vote for the president
President's definitely have power over the economy, the economy was stagnant for most of Obamas presidency. Then Trump comes in and completely changed that with tariffs and tax breaks, which helped the economy massively. If presidents had no impact on the economy this wouldn't of happened.
Hi Matt, I’m British but love learning about American history & your content.
Too bad the people that need to see this the most, won’t ever come across it or even listen.
But i want to blame the other side for everything that is wrong in my life.
Control ? As in total control ? No.. substantial influence that can directly relate to the economy and economic issues.. yes… what are you talking about
This is a good video, if you watch the whole thing and pay attention you may even learn something!
@@Alex-ne6fm dumb bot… if you can’t see how interconnected things are then you need to take a step back, this video either takes things to literal, or he’s just to biased,, possibly both.
8:44 👍🏿
@@1ofone_ whooosh 💨
I've watched too many of your videos, I walk around and yell COVID-19 like this 11:20
LOL then mission accomplished. I hope you and your family are safe and well after Milton
The president did put the Cojved measures at place. So the president is (partly) to blame for the inflation.
Mr. Beat: You should do a video on the national debt of the United States and how to solve the problem.
The only problem with the debt is what it's spent on.
Love ya Abe but the national debt is not as a huge problem as many think. We use debt to invest in our country. The question is how are we using that money.
The debt isn't as big of a problem as long as we need in public services and infrastructure. I would also have a wealth tax to help balance the budget.
Being the president of a powerful institution that oversees law in America, I think they have some degree of influence over the economy. But the power of that influenced is almost always overstated for cheap political gain. That's my take on the matter.
Well put. I pretty much say that in this video.
Thank you for this video. It was sanity resorting.
Man I’ve been waiting for this video. I can’t wait until I get home to watch it.
15:14 You take that back, sir.
oh hello there
I know this channel is trustworthy when kings and generals is watching this 🗿
Thank you for this!!!!
One month before election?! Mama mia!
Heck yeah.
Thanks Mr. Beat for adding '(turning)' in the closed captions! Now I can finally keep up with all the twists and turns.
Mr beat video just dropped amazing day
:)
@@iammrbeat😁🫶
I tried to tell my mom that no president - Republican or Democrat - has a firm control of the economy. they have powers that can definitely influence, but they don't control housing, gas, grocery prices.
All she said was that when Trump was president, things were cheaper. I just dropped the subject because no matter what I said, she would not be able to see it.
It’s crazy how things were cheaper before a global pandemic and trillions of dollars of spending. The president wasn’t responsible for Covid, but both the current and previous presidents are responsible for the trillions of dollars of spending. It’s crazy to me that people want to pick and choose sides on that issue as if neither of them contributed to it.
@@streetpilot4098 Things were just as cheap after the pandemic.
@@TheSignofJonah777Nah a lot of companies took the chance to price gouge, but it isn’t TOO stark of a difference yeah
@@O.Reagano It's something called supply and demand. The more of an increase of a price the less people will purchase the product. Companies don't just magically get richer whenever increasing prices.
They set the price to maximize profits.
@@TheSignofJonah777 Supply and demand analogies don’t work when the market as a whole just agrees to increase prices. Kroger admitted they were price gouging a few months ago due to people being used to Covid prices. Along side that if Kroger was the only one gouging, you can assume a lot of retailers are. If every food retailer is gouging the price, you can’t just not buy it. People need to eat and buy groceries, so they’re forced to still pay these prices.
No. I control the economy. 😎
Give me money!
@@andrewjones2222 As a participant, you literally do.
Step One would be the complete distruction of Citizens United.
I think one of the best ways to be a conscious voter is to remember the ways in which all elected officials actually serve us. The president is not a god, or a king, or a superhero. They wont fix everything. Your mayor wont make your town better. Your governor wont solve all the problems across their state. Having one more congressman than last cycle wont drastically change the world of politics. Each official does roughly 1-3 things, with the president doing even more. But thats it. We have to remember that they are people. And the things they do will help up, but they themselves are incapable of doing so alone.
I have been wondering this for years and could never find a RUclips video that addressed this topic. Finally Mr. Beat came to the rescue
No one "controls" the economy.
We're NOT a command economy.
However, there are things the chief executive can do to influence it. Tariffs being one thing. Trade deals being another.
Most economic policies are handled on the legislative level, not the executive.
Excellent job!
longtime mr beat fan, i cant help get the feeling the most recent videos he makes are geared toward people turning from one party to another in terms of voting preferences. i dunno
How do you mean?
@@iammrbeat again huge fan and love the channel- but with a word as big as the economy you are correct about the executives branches effect on it. its like a gigantic ship, it can't turn left or right so quickly. but there are effects that can be long lasting or effects that are felt shorter term. markets react to decisions made today and that has a ripple effect on peoples perceptions and peoples optimism or pessimism has a ripple effect back. The Inflation Reduction act has indeed affected the overall economy. making a point that the executive branch doesnt 'control' the economy is true but at the same time, it does affect it. and if people are feeling bad in terms of the economy and want to make a change that's fine. i think pointed videos like this indirectly try to diminish the real argument against one of the political candidates running now. i know youre a right of center person who doesnt care much for the current republican candidate, i agree with you his moral character is lacking. but this cuts right against one of his 'main' arguments for candidacy. i think people can watch this video and turn from the 'change' candidate to the incumbent (kind of). i think your voice has weight, and this might sway a few people to vote D over R, when the reality is- on this topic- its much more nuanced.
@@iammrbeat sorry for the book
@@maynardyorke What book?
@@red31sorceress86 my gigantic response lol
Fantastic content, level-headed, sorely needed! Thanks for the information and funny memes.
Including Napoleon Dynamite
Actually the president has a huge impact on the economy. They set Tax policies, wage or end wars, regulate the market, decide on government expenditures and loans, etc.
Congress does all of these things as well, and in the vast majority WAY more extensively.
@@hhaa3728It's the president that set the policies and he has the bully pulpit as well, but yeah a president without congress support is far less effective. Then again you have to wonder why did he placed himself in that position (usually by his own failures).
Control, no; influence, yes.
yes, the video is branded a bit misleading. a president doesn't *literally* control really anything that's fundamentally important to American governance. but that is not to say that POTUS has an immense impact on it via executive orders. not to mention that Biden had a completely blue congress for 2 years, so he indisputably had 2 years' worth of time to spearhead the legislative changes he promised in office.
This video should be a required watch before voting
You got most of the basics but… Most economists agree that inflating the currency supply is not only the cause of price inflation, but, according to Milton Friedman, is the definition of inflation. This is impacted by deficit spending (appropriations and taxes) and by interest rates. In April-May if 2020, the M1 money supply nearly quadrupled, from about $4T to over $26T, then continued to coast upwards for the first 2 years of the Biden administration. This is the most impactful cause of recent inflation.
Nah man I swear the president had two big buttons on their desk, one for making green line go up and one for making red line go down. What’s the presidency for if not for that?
Great video.
Of course, they don't, but their policies influence economic activity.
Ah, but so too does government spending … and Congress controls the budget.
@@trevinbeattie4888 right. Our bloated government directly affects the economy, including the executive branch.
I respect the direct thumbnail response
Great video. You need to make a complete video on the price gouging. That, I believe, is a major factor.
If they set prices too high they don't make money. It's that simple. Supply and demand.
There are too few companies competing. It is too easy to set higher prices and your competition will do the same. Look at the increased profits over the past few years.
Price gouging has actually done barely any effect on the prices. Small companies have gone bankrupt because of the inflation done by the measures.
I am not saying it was not a factor, but it was a small factor. Demand for certain products increased while supply decreased and these products in short supply included surgical masks, N95 respirators, en hand sanitizer. We don't need those anymore. We still have enough basic necessities who were barely affected.
Covjd measures hugely affected the prices though.
@trueblade3636 Even ceo of Kroger admitted to price gouging
@@vmccall399 Inflation always benefits the big companies. So we stop inflation by stopping government spending. Not by regulating the economy. That would lead to more government and less power in the peoples hands.
Mr Beat! With all the hurricane news I would love to hear what you have to say about prominent hurricanes that have affected the US significantly
Mr beat on RUclips and Mr beat on Twitter are two different animals.
How so?
@@iammrbeat i can tell you actually try to be unbiased on RUclips and it’s a great channel to learn politics for the most part. The streams definitely get more biased but the pre recorded videos are pretty damn good most of the time. Maybe it’s a spur of the moment thing where the bias shows but the RUclips channel does pretty good at sticking to the cold hard facts probably because most fat in the videos gets trimmed. Or maybe at least you can explain your self so it sounds less wild when you say something like the electoral college should be gone. It also is just a different format to share information on so maybe it’s just perception. Idk ultimately, and I’d hate to speak for you but it almost feels like 2 different people lol
@AydenDonley My concern is that when people say unbiased, they mean they want to hear both sides of an issue which isn't inherently bad but ends up sliding into treating more fringe ideas as equivalent to more mainstream ones by treating them like they are equal. Regardless, I don't mind listening to different ideas and perspectives provided that they can be backed up.
@@Fringe31422au yeah I guess that’s a problem with people when talking about almost anything but it’s definitely possible to just show the facts and not inject your personal beliefs into the narrative. You can always represent both sides of a narrative or you can heavily focus one one side of the story but he does a pretty good job at being somewhat equal on his videos especially the historical stuff he does and that’s really all you can ask for
I love the William Howard Taft song. It’s one of your greatest, Matt
You can’t change system of america
YOU GO HOME
@@iammrbeatGet Beat nerd
Thanks for your amazing and insightful videos Mr. Beat!!!
South Park said it best... the economy is controlled by a headless chicken😂
In all seriousness, the economy runs on vibes. If everyone is feeling good economically, the economy will be doing well, vice versa. It's very unpredictable and mostly controlled by the masses and how they feel.
I think this is an oversimplification. Economic data is incredibly important when making predictions about politics, for example.
“The economy runs on vibes” is possibly the stupidest thing I’ve ever heard anyone say. You can’t just “vibe” a good economy into existence because you want one.
@@scottblubaughPeople spend based on vibes. If you widely claim.a recession is imminent even if its not, and people believe you, it can be a self fufilling prophecy
@@scottblubaugh Individuals can’t, but the population as a whole certainly can have an impact if a large enough segment of them act in concert. Of course this is only one of the factors which drives the economy.
@@scottblubaugh"Vibe" might sound stupid. But it indicates confidence in spending...
You might have money but doesnt like to spending it... the economy going down the drain as well.
And still you might have no money, but still somehow finding means to spending (i.e. taking debts), the economy will be doing great.😂
love you Mr Beat! good video as always.
Hard disagree on this one, you are arguing with a strawman for most of this video (only a very uneducated voter believes the president has 100% control over the economy and can just decide the price of gas/groceries/inflation on the spot) but your underlying point that they have very little control, or that multibillionaires have more control is straight wrong. They as an individual have more control than anyone else and you totally ignore their ceremonial role as the leader of the party. They often can heavily influence fiscal policy of the senate and governors in their party. Just because they don't control the pursestrings doesn't mean they don't have a lot of control over the people who do.
As a thought experiment what if the president decided they wanted to crash the economy vs if Warren buffet decided the same? The president could have trillions of dollars printed and set the interest rates how they please and set tariffs to anything they want. They could tell their party not to pass a budget and shut down the government. They could provoke wars all over the world (even if they can't declare one they could get one declared on us). Hell they could just launch the nukes if they please.
Look at Trump's campaign platform this time around. He wants to deport 20 million immigrants (12% of the U.S. workforce) and put a 20% tariff on all goods from all countries, the idea that a Jeff Bezos or someone could do anything on that scale to impact the economy seems very unrealistic.
The idea that Trump can actually do that is also very unrealistic.
@@iwatchyoutube523 which part? Preseident can 100% do the tarriffs . Executive branch also has control of the military and enforcement of federal law so the president can 100% us the military to punish people violating federal law which illegal immigrants are.
Both of these things are very clearly spelled out as things the president can do no legalese or mental gymnastics needed.
@@Fieryxjoe this
I remember that part in the Constitution: "a President will be the supreme chief of the Economy of the United States, and no general can overpower their decisions."
But the can do different things to help the economy which this last president did nothing.
Actually he helped bring inflation down by enacting the inflation reduction act. Inflation was up all over the world, but went down in the US faster than any other country thanks to Biden. Have you been paying attention at all?
@@OneTermPresident There is no evidence that the IRA actually reduced inflation, though.
When I see episodes of Mr Beat, Alien Super Show, Mr Ballen, and The Why Files my heart says _yesssssssssssssssssssss!_ Good to see you, and thanks for the time and dedication you always show. 🏅
All Americans should watch Mr. Beat
Nah they should listen to someone who actually knows economy and government functions.
@@ramonserna8089 What did he get wrong?
@@ryanmccolloch4734 I think saying that presidents don't control the economy when they have a lot of tools to their disposal, plus it is implied they have their party support so at least 1/3 of congress
@@ramonserna8089true, I feel like the video would've been better if instead of no. it said nah, not really.
@@ryanmccolloch4734 I’ll give you an accurate example of why Mr beat is a biased liberal. When Biden took office he cut the keystone pipeline, which caused the barrel of gas to go up from 45 dollars, to 125 dollars a barrel. When the gas prices increase this has a total effect on the economy. For example, the truck delivering the goods, has to charge the company he’s delivering the goods to more money, because his gas is much more expensive. Which causes the store, who bought the goods, to raise their prices, because the truckers are now charging more for gas. This has a complete domino effect
Dude youre heavily underplaying the president role. Sure they do go individualy and hire every person to "create jobs", but they name the secretary of labor and decide government expenditures. Those are huge factors. It baffles me how you dont see this.
That’s fair but those positions are delegated because the president cannot reasonably have total awareness and engagement with these departments, regulations and roles. Bro I can barely manage more than 2 hobbies lmao. And ultimately, American economic performance exists within the overall global economic paradigm. Booms and busts are feature of capitalism and the entire world feels those cycles. As the market has gotten more global and more complicated it becomes less and less fair to pin economic success or failure on the President.
@@adamyooz The president is responsible for the people he surrounds himself with. That's why when you vote you should look not only the candidate, but his inner circle and the people that supports him/her.
@@ramonserna8089 I don’t disagree. I’m just identifying that there are degrees of separation that make the working reality of governing more complicated than just “it’s your fault.” It’s better pinpoint specific policy failures or perverse market incentives than it is to just blame the president. That’s the only way you can get a handle on what can be done to solve the problem
@@ramonserna8089 The Secretary of Labor doesn't really have any more powers than the President on anything first off. Second, yes the President does propose the budget and is supposed to set the legislative agenda, but that is only if Congress decides to go along and more often than not, they don't and even when they do pass a law it often isn't as good as they wanted.
@@whattheydidnttellyouwithbr2844
1. Exactly my point. The secretary of labor has a huge impact on job policies and he is bellow the president.
2. Congress can deny or approve a budget as part of check and balances, but the president is the one that makes the budget therefore he has more power in that regard than anyone on the government.
I Love Mr Beat’s Videos he always makes them enjoyable and entertaining
this is probobly the slowest start ever to a Mr. Beat video. 7:33 you are welcome
You really missed the main point of the video. That's kind of sad.
I love your work Mr. Beat. You always entertain and inform me 😊
You can blame Trump about how he handled the pandemic, which effected the economy
Trump? The guy who turned the javits center into a hospital while the governor was dumping bodies onto hart island and the mayor that was giving you cheeseburgers and fries for the vax. Give me a break.
Thank you, Mr. Beat for getting into this! It's a shame how many fail to research and assume. As much as I point this out, I get labled incorrectly.
So wrong. Who appoints the fed chair? Who manages foreign relations including trade policy? Who manages the border that has a tremendous impact on labor supply?
Room temperature iq take.
I’m pretty sure he addresses the fed chair at 19:20, the current fed chair was appointed by Trump and Biden hasn’t changed him
Don't waste your time. He clearly didn't even watch the video and is probably isn't looking to learn from any of this. @@blueyoshi4211
That’s what I’m saying… total control? No… saying he doesn’t have any control/influence/impact and you shouldn’t vote based off the current state of the economy is just ludicrous… everything is interconnected, and foreign relations alone, we are in a terrible state that is destroying our own pockets.
@@bballplyr80 I’m trying to understand where you’re coming from, which foreign relationship is ruining our economy right now? And also isn’t it reasonable to assume that even if Biden was destroying foreign relations, it would take; a least a while to effect our economy?
@@blueyoshi4211 how many billions of dollars did we just send Ukraine? And also the war in the Middle East in which both sides, we are funding for so long now.. just more money going out from America for death and destruction and less helping the American people that actually need it… and yes.. we can’t control weather or hurricanes or natural disasters, but we are clearly unprepared for this hurricane season, while FEMA only sends out 750$ of aide to our own people… money which could in turn be used to help our people and be thrown back into our own economy, not just wasted away in senseless war
When I got my undergrad in economics, one of my professors told us the most frustrating thing about studying economics will be talking politics with people and she was so right. I appreciate this video so much
I don't blame Donald Trump for the 2020 recession, I blame Donald Trump for the poor response to the pandemic that caused the recession
With what we know know. Eating healthier would have helped more against the disease than not. We are the country that got the first vaccine out.
@@TheSignofJonah777 LOL. Good joke.
How?
@TheSignofJonah777 No, that's not the issue. The problem comes from how you react in the first few weeks of an outbreak. Diseases spread at an exponential rate, so the solution is to nip the issue in the bud as fast as possible, because once it begins to spread, it cannot be reeled in. Trump should have recognized this and ordered mass quarantine immediately like China did, especially since he was briefed during his transition period about the seriousness and likelihood of a respiratory illness outbreak in the next decade by the Obama administration, even if it means shutting down the economy for a couple weeks to allow the few people who got sick time to recover and then the disease stops spreading instead of saying "we're at 15 cases right now, before you know it, it will be 0" and doing nothing to guarantee that.
And then the rest of the world would have followed suit with whatever America does, because if America, the economic and transportation center of the world, shuts down it's economy for a couple weeks then everyone else will too. But if America doesn't do anything and doesn't enforce travel bans immediately, then other countries won't either because, what's the point? The disease is just going to continue to spread because the most powerful and most-traveled-to coubtry isn't doing anything about it.
This is the reason why we never had a massive outbreak like this with ebola or bird flu because Obama took those seriously and even sent the military to foreign countries to fix the problem before it got to the US. And then everyone mocked him for "making a big deal out of something that turned out to be nothing" even though it was BECAUSE he made a big deal out of it that it turned out to be nothing.
It's a thankless job, but someone with good moral integrity has to take responsibility for it and do it even if it causes a temporary dip in approval ratings because the populace is too ignorant to understand that they just dodged a bullet. Obviously, that isn't the kind of person Trump is.
"the poor response to the pandemic that caused the recession"
I agree. But why you blame Trump? Biden and the Democrats have done a poor response to the pandemic that caused the recession. Trump was out of office
Hoover: I’m boutta run this man’s whole career
Woah only 4 comments and 29 views in 59 seconds, must be a small youtuber ive discovered
Oh my gosh you are so funny. Did you learn this from your 4th grade classmates?
I am the smallest RUclipsr of all the times.
@@dahleno2014 no 2nd grade actually hehe
Hey, I was in a meeting this morning and had work to do! Give me a chance.
I think youcoveted everything. Thanks, I did learn a lot.
Yes, letting 10 million more renters in the country doesn't effect rent prices. 😅
:(
Here in Texas. It matters
???
Supply and demand
Still have more empty houses than unhoused people but don't tell anyone 🤫
I love that you referenced that Snl skit
Just what I needed to send to some of my Trump supporting relatives who are voting based on the 'economy'. Of course, they are probably using 'the economy' jingle for a euphemism but oh well.
Most Trump people who say they are voting on the economy actually aren’t. The fact that they didn’t already do some research on it themselves, which would have taken a 5 min google search to prove Trump isn’t better economically than democrats, tells you everything.
lol economy as a "euphemism" is new to me but aptly put
Very glad to know Mr. Beat keeps his workspace at a comfortable 72 F.
The Inflation Reduction act increased inflation according to economists. Harris was the tiebreaking vote.
That is interesting
According to an AP News post, the Inflation Reduction Act had little impact on inflation one way or the other. Most of the provisions of this Act have only started being implemented over the past year; this is a long-term investment.
According to PolitiFact, Republican claims that the Act increased inflation are “mostly false”:
“Inflation has fallen steadily in the two years since President Joe Biden signed the Inflation Reduction Act into law.
The law is not responsible for that decrease, but it did not worsen inflation.
The American Rescue Plan, which Democrats including Sen. Bob Casey, D-Pa., passed a year earlier, likely contributed to worsening inflation, but it was not the sole cause.”
@@trueblade3636inflation is 2.5 percent now
It seems like the party as a whole has more to do with the economy and usually over a longer period of time than a single president for sure. The government should be a referee and not so much a player.
Trumps 60 percent tariffs will have huge effects though.
Yes, hopefully they will start making things here instead.
You bet your butt they would. It's one of the few things a president can do to screw things up in the economy.
@@travisbryant3185 Increased tariffs would destroy our economy.
@@iammrbeat maybe the company's would build the products here, it's a negotiating tool
If we make it here , tariff it. If not no tariff. What's difficult about that?
The cat climbing during the hello fresh advertisement ❤😂
liberal beat says no
You might watch the video. You might be surprised about what I say.
Liberal?? Mr Beat?? Mr Beat strikes me as a center left at best
@@enon8116I feel like he’s a “anyone but trump 😢” kind of guy
"THE GAS ECONOMY JACK" - Senator Armstrong
It would be nice if all the genius Trump supporters blaming Biden/Harris for inflation and saying how the economy was sooo much better under Trump would watch this. But they absolutely won’t.
I didn't make this video for them. I made it for people who are curious and want to learn new things.
Yes congress controls the policies. But it the Partisan politics of today executive orders and veto's rule.
@@iammrbeat I know, you have good intentions. I guess I just meant I wish certain people would be more open minded to learning new things
Love ya Beat!
Mr. Woke!
lol
Thank you for telling this, people really need to know how it actually works
Still voting Trump