Do you think Trump's economic policies are helping economic growth? Or is his behavior a risk where "a small adverse shock could turn into something more calamitous" as Justin Wolfers thinks?
I think Trump's behavior is a risk. Trump is more worried about the optics, and the superlatives: the biggest tax cuts, the lowest job numbers, the DOW at an all-time high, above 3% growth rate etc. And he cares less about the fundamentals. He sends out his cabinets members like Larry Kudlow, Steve Mnuchin, Wilber Ross out there to tout the US economy, saying stuff like: the economy is booming, growth like we've never seen before, the economic numbers are great, etc... If all these are true, then why not allow the FED to raise interest, normally done when the economy is doing great and part of sound monetary policy? Because the rise in interest rates dampened the stock markets a little bit and led by Trump, all the talking heads on business TV including CNBC's Jim Cramer orchestrated a coordinated attack on the FED questioning their policies. Some even floating the option of firing the FED chairman. So, the FED caved and assumed a more dovish tone. And what was the next headlines on CNBC? "is the FED independent?" Hell NO. At least not in this administration. Conclusion: You either have a very good economy and allow the FED to gradually raise interest rates, as a banker in case recession hits. Or you can keep cheering the good economic numbers, and when a recession hits, you have no ammunition to fight it, making things even worse. You cannot eat your cake and also have it.
I'm not an expert, but I do know enough to say your doing yourself a disservice to have this mormon on your channel! This is largely the federal reserves responsibility
All the more reason to vote for #Yang2020.. Justin you actually spoke on many of his policies and theories that will change our economy for good. Like measuring other things than just GDP.
Developed countries live on the backs of crippling interest payments from the developing countries. Until that changes, they will always be developing.
@3:15 is what my husband and I have been doing since 2018 putting away every cent we can for when the 💩 hits the fan. We honestly believe it’s coming. If you study the past the U.S. economy performed better under Democratic than Republican presidents since ww2.
toasted onions toasted onions Even trump agrees we do better understand democrats he even said so in a 2004 interview Every Republican president since Teddy Roosevelt in the early 1900's endured a recession. Also the facts show we do better under democrats ruclips.net/video/rRndMiVIB-w/видео.html
Retail stores are diminishing at a slow rate. Internet shopping is killing the market. Look at the shopping centers. Jobs are lost . Less stores less people
simple: YOU HAVE TOO MUCH DEBT AND CAN'T AFFORD IT! The idea of keeping the interest at 0 so you can keep burying yourself and get away with it is pure stupidity!!!
Doubling work hours wont double GDP. Human labor productivity has its limits. The 8 hour work day didnt come from the government, it came from cooperative private enterprise realizing how to get the biggest bang for their buck with labor.
He was just using that example to demonstrate the fact that doubling GDP does not always lead to a more happier and fulfilling life. It was not meant to be a fact.
Why nobody mention the fact the the FED (private organizations)raise interest knowing that recession can be result of that. We need to read more to be free.
When interest rates are near 0 the federal reserve rans out of tools to bolster the economy if it slows. 1 or 2 percent interest rates are dangerous. I would rather slow the economy and maintain a 3 percent growth with higher rates.
You failed to understand what he meant. He meant to say we need to put a price on environmental deterioration. That, way we will take actions to protect the environment. Quite similar to how businesses put a price on machine depreciation.
Just keep printing more money dude!!! It's all good!!! Continue Printing more money out of thin air and give it to the people not the bankers $ 1%ers!!!
@@smashgodtv1345 You're applying a firm level, individual example to the entire economy and I'm doubtful even that your example is accurate. Again, this is not how economics works. Real GDP was higher a hundred years ago when people had less leisure time. Now that we value leisure, we work less and GDP is lower but quality of life is higher. GDP will increase if production increases. Quality of life may not.
@@TheZchristina97 no real gdp was not higher back in the day. Its the highest its ever been ever. We have more leisure time and productivity due to technology. Thats why in the 1920s we had a booming economy and lower working hours. And from that people had more free time. Thats why it was called the roaring 20s. And i wasnt comparing an individual to a whole economy. I was comparing the regional southern economy to the one we have now.
The dollar is literally floating currency that is partly getting its evaluation because of some countries in the Middle East like Saudi Arabia and Gasoline. if gas prices are cheap, the chances are that America will be going strong.
Oh Because lazy & corrupted middle class is more harder find "easy money" then you can blame current Government.. i am not US but i see the positive US economic rather then 10 year ago
Study what the rich kids’s father and grandparent did not they do. Developing countries should complete ignore what this guy’s generation. Democracy will only lead to printing money and meaningless wars.
Have you looked at the Bureau of labor statistics? Easier said than done because a lot of people live from paycheck to pay check and can't put money in a savings. But you are rich enough you don't have to worry about it and you sure aren't living in the real world. Just look at this guy. It's hard to take him seriously.
Unemployment is 4%, and I look just like I did when I graduated from high school, only 52 years ago. People say I look like Brad Pitt in Thelma and Louise!
The Australian Housing Market is in Crisis; obviously this educator has not been to Australia for years. If he did; there would have been a realization that the housing market is over-leveraged...banks have determined that some real estate markets in Australia maybe overvalued by 40%. Six months ago I left New Zealand to run our business in the USA; in that 6 month period I've noticed a high influx of builders relocating to New Zealand. (NZ has a shortage of builders) Just like the US Housing Crisis; construction companies found no work....builders changed jobs because of the financial crisis of 2008. Now we are seeing housing TV shows from Australia like "Location, location, location" display signs that consumers can't sell their homes because of the overvaluations from Australian banks just like the Financial Crisis of 2008. ruclips.net/video/smPR0s2W-Ck/видео.html
Irene, that may be true. But what percentage of the Australian economy is dependent on the housing sector? The Australian housing sector might be in a pickle, but the overall economy is doing better. In the US the housing market is a very large component of the economy, so its crashing brought down the economy with it. Is that the same case with Australia?
Let’s start with: 1. He says we can double GDP by doubling working hours 2. He says we can increase GDP by accounting for house work/chores 3. He seems to support neoliberalism, something the developing world is growing discontent for So basically there are some flaws on how to measure economic performances, that more or less we all understand, but this guy is trying to use those flaws as a way to improve the economy? Even I am confused as to what he is trying to say. Either way, what he tries to sell doesn’t make sense, and the points that he uses are just not coherent. So when he uses fake or unfounded points to make an argument, it falls apart.
@@carknower I mean he's right. You double working hours and production increases and so does GDP. Does it not? This is basic macro. The part about accounting for house work/chores is just him describing how measures of GDP can fluctuate by how it is measured. That segment was basically about GDP measures, how it can shift depending on what it accounts for, how representative it is of economic conditions, etc. A principles of macro class teaches all this.
Infinite, so if nobody is buying what you produce, but you double it, then you have all this surplus, producing at a loss, but you’re gonna keep producing at the same rate? Ah man, he’s a genius and figured out the trick. So do we change the way we measure GDP each year? Lmao Ok, so if you clean your house, we should add that to the gdp calculations? What about when you wash your dishes? I mean those are real jobs: dishwasher and maids. What will be next, we should add foreign revenues made by Americans abroad? Oh wait, there’s sorta a thing already for that: GNP.
Also, what if you don’t produce such as a factory worker, but you work the floor at the Home Depot, I mean, let’s double your hours so they can keep the store open 24/7. How many customers do you think you’ll get? But it’s not just you, but your co workers sitting around at midnight bored, because the customers are not shopping that late.
are these top end academics way too wordy? listen to thomas sowell, who's and absolute genius. even if i didn't agree with him politically (obviously i do), he can make a complex topic, as plain as ham and cheese sandwich....it's a gift and he's always had that trait. while the krugmans and this little cabin boy (you'd hate to meet him on an elevator) just bloviate and elongate on and on....and it's meaningless, because their predictions usually are crazy wrong.
Capitalism is dead. The old idea has ran its course. Manufacturing use to be the oil of the US. The new oil of now is technology. Cashing in the tax havens corporations money and using it to rebuild this country smarter and greener. We need to push into the future with energy independence, healthcare innovation and converting our roads, bridges, electricity and water delivery systems with 21st century tech. You don’t need a whole new grade of education for the adult working class to achieve this. You need hands on training and commitment from everyone to get this done. Adopt the moto that in America, if you want to work, we have work that needs done and anyone willing can come and contribute. ANYONE
Shoham Das We’ve never tried anything else in America. We have more proof that it doesn’t work than supporting that it does. The musical chairs of capitalism isn’t sufficient anymore. The older generation is trying its best to hold onto it’s detrimental power struggle from the lower and middle class to keep the status quo unchanged. People evolve. Ideas evolve. Systems evolve. This system has not. It’s not the best we have, there are other countries where their population is far better off, your telling me that if we adopt the best other countries are offering that here in America we can’t do it better? This sham idea that we are “the best” in the world isn’t true. I can see, research, and conclude that fir myself from my telephone or computer. What if we really put some meaning behind those words and acted on it? Imagine what things we could achieve.
@@michaelc5019 when you say about other countries where "population are far better off" do you mean Scandinavian countries? If yes, its a wrong equivalence to set and the only other two countries i can think of which beats the US in population is India and China, a boom in the economy and the general standards of living of the people and that's because of reforms of capitalistic nature(true for China more than india as india is not pure capitalist but then it evidently lags behind China and moreover buisness in china suffer due to excessive government interference which is important for the current 'communist' regime to stay in power)
Shoham Das these are ALL man made rules, laws and boundaries set that can be changed. Just as we built them, we can tear them down. Capitalism is not permanent nor is it the “model” system. We need a medical, technology and education based economy. That works for the people and rewards all who participate in it with housing, food and healthcare and as we provide these things, move on to the next step of education and commit to rebuilding lives and families. You don’t and won’t get to anywhere new repeating the same mistakes and bad habits. This would be generational change. Not an over night switch. Technology is the oil of now. We have to harness it for the betterment of humanity, not greed and profits. Those ways have failed failed failed and I’m far too intelligent to think that capitalism is the answer when it has caused more inequality and generational poverty than just to make someone or some corporation a dollar.
@@michaelc5019 its has never been claimed that capitalism is the perfect "model" system, as all things that exist in reality, capitalism is with it flaws but you just cannot ignore the billions it has lifted out of poverty, wealth gap is the price we pay for it since we don't live in an IDEAL world where everything is PERFECT, my father lifted himself from NOTHING, the free market gave him that opportunity and here I'm leading a privileged life and soon to contribute to our meritocracy
paul krugman might be 0-155.....i would have fired that snobby fella after 0-20......but no, he's still the finance wizard when he has maybe never been right. can you imagine being a baseball player and you're 0-2000 and the team pays you more every few years? at this point i read his opeds just so i can confirm how meaningless and partisan his takes are....i'm sure he's very intelligent (ehhhh) but man, the failure rate is amazing.....and any other professional with a losing record like that would be looking for a new home.
So many wrongs with this video, where to start? 1. The U.S. hasn’t really been expanding for 10 years. All the FED did was prevent a depression. Quantitative Easing didn’t end until 2014. Real analysts show the expansion beginning anywhere from 2013-2015. 2. Using GDP or GNP both have issues, but his prescriptions are stupid. You cannot double GDP simply by doubling work time... it’s sad that this is what he teaches his undergrads. 3. His points against GDP are really not about economic growth or performance, but rather about measuring the quality of life and social issues. Like pointing out a “rich” country but “poor” citizens?? Completely different metrics. Not that it’s unfounded to look at and study, but that it makes no sense in this topic. In other words, just fluff words and a distraction. 3. He is clearly stuck in Econ 101 regarding supply and demand. His advice about saving now and spending later is... alright, but don’t go out spending thinking you’ll kickstart the economy again. Rather use those savings to support yourself until you can save again. I could do a complete response as to why you shouldn’t listen to this guy just based on this one video here, but it would be long and you wouldn’t read it. Just know, that real analysts and real economists are out there. This guy isn’t one of them. People are worried about a recession as its natural, but Trump is not the reason why. If anything, Trump, having already announced his intent for re-election will be more concerned with the economy since it will be the ultimate platform for his reelection. Seriously, think for a second, if the economy goes sour before he secures the office, the Democrats will have all the ammo to win. They will use it to support what they’ve been saying: that the system is “broken” and will promote their ideologies and big government as the answer. No doubt the system has flaws, and the battle for government and economic system has been going on since the American revolution, followed by the French and so on. What you should be worried about is how much freedom and liberties are you willing to give up to have food. As history has shown us, this is the critical point where we give into serfdom. If you read this far, I’ll end with this. I don’t criticize the left for their ideas to serve society, because it criticizes the evil in corporations or because it wants to tax the wealthy. I criticize it because they don’t understand what it’s actually happening. They don’t understand the history of the individual and of society. They don’t understand (or maybe they do) that they are undermining our liberties and democracy. They are trying to use an old idea, limited by the technology of an old era, to meet the problems of today and tomorrow.
yes yes very interesting....but actlually if you could just help me out I am a nigerian prince who would like to help you but my money is stuck in a trust, but with your help I would love to get it for you
Um, Australia’s boom had everything to do with China’s boom and China is slowing down. So, don’t pay yourselves on your back too hard. Wasn’t that much of an accomplishment when your’re commodity rich and at China’s doorstep. Plus, Sydney and Melbourne’s housing is beginning to melt down. Strong, yeah? And employment rates are almost always lowest prior to a recession so I wouldn’t parade that stat around too much either. Guy talks about how great the last 10 years was... talk about cherry picking your stats, buddy. And best of all, what does improving GDP have to do with feeling respected and loved?! Lol. Students may want to avoid going to Michigan University, some quacks teaching over there. Most jobs are going to get automated away so students should find education that will give them a future (hard to automate away trade jobs, let’s say), think and little deeper, and worry less about the fuzzy feelings.
I know many would love to see a recession happen on Trump's watch. But it's not going to happen. Other issues may happen leading to Trump's demise but the economy isn't going to be one.
Do you think Trump's economic policies are helping economic growth? Or is his behavior a risk where "a small adverse shock could turn into something more calamitous" as Justin Wolfers thinks?
I think Trump's behavior is a risk. Trump is more worried about the optics, and the superlatives: the biggest tax cuts, the lowest job numbers, the DOW at an all-time high, above 3% growth rate etc. And he cares less about the fundamentals. He sends out his cabinets members like Larry Kudlow, Steve Mnuchin, Wilber Ross out there to tout the US economy, saying stuff like: the economy is booming, growth like we've never seen before, the economic numbers are great, etc... If all these are true, then why not allow the FED to raise interest, normally done when the economy is doing great and part of sound monetary policy? Because the rise in interest rates dampened the stock markets a little bit and led by Trump, all the talking heads on business TV including CNBC's Jim Cramer orchestrated a coordinated attack on the FED questioning their policies. Some even floating the option of firing the FED chairman. So, the FED caved and assumed a more dovish tone. And what was the next headlines on CNBC? "is the FED independent?" Hell NO. At least not in this administration.
Conclusion: You either have a very good economy and allow the FED to gradually raise interest rates, as a banker in case recession hits. Or you can keep cheering the good economic numbers, and when a recession hits, you have no ammunition to fight it, making things even worse. You cannot eat your cake and also have it.
I'm not an expert, but I do know enough to say your doing yourself a disservice to have this mormon on your channel! This is largely the federal reserves responsibility
CNN ..CNBC ..ALL of yall left leaning bull crap news station will keep Losing viewer ships because of your biased opinions!
M. synyster85 this guy has never had a job.
eudofia go opt for president then..
The next recession will be caused by...
Time
Genius in the simplicity of the answer.
High gas prices.
It Will be the decrease of the buying Power of the Middle class
Exactly.
The yield curve recently inverted. We are closer to a recession than most people think.
Very educational and inspiring video. Thanks.
I love when political views are presented as empirical facts
There are witch doctors better at predicting our economic future than economists.
This guy is brilliant!
The Simpsons predicted he would sink the economy
Tyler Lykins u mean NWO
Its inevitable. Blame everyone. Blame us too. I moved into a garage with cash stashed. Wait for it.
If the economy is doing so "well”then why are people working side jobs like uber eats, uber, lift etc?
Do you understand economics?
@@shohamdas you obviously don't
Go take an economics course in university.
All the more reason to vote for #Yang2020.. Justin you actually spoke on many of his policies and theories that will change our economy for good. Like measuring other things than just GDP.
There isn’t a single serious person who measures an economy solely by it’s GDP.
Let’s give every meth head in America a $1,000 a bucks a month that will solve everything !!!
No body knows, but everything right now is in a bubble. From stocks to real estate to student debt and etc. most likely would be housing
except cryptocurrency.. ;)
Developed countries live on the backs of crippling interest payments from the developing countries. Until that changes, they will always be developing.
Another great advice the the USA won't take.
@3:15 is what my husband and I have been doing since 2018 putting away every cent we can for when the 💩 hits the fan. We honestly believe it’s coming.
If you study the past the U.S. economy performed better under Democratic than Republican presidents since ww2.
Saving money because you're scared of an economic crash? Lol, have you not heard about what follows economic crashes? Massive amounts of inflammation.
Lol the economy tanks under democrats further more if you study your history the FED is the sources of collapses
toasted onions
toasted onions
Even trump agrees we do better understand democrats he even said so in a 2004 interview Every Republican president since Teddy Roosevelt in the early 1900's endured a recession. Also the facts show we do better under democrats ruclips.net/video/rRndMiVIB-w/видео.html
Excellent.
Retail stores are diminishing at a slow rate. Internet shopping is killing the market. Look at the shopping centers. Jobs are lost . Less stores less people
simple: YOU HAVE TOO MUCH DEBT AND CAN'T AFFORD IT! The idea of keeping the interest at 0 so you can keep burying yourself and get away with it is pure stupidity!!!
Doubling work hours wont double GDP. Human labor productivity has its limits. The 8 hour work day didnt come from the government, it came from cooperative private enterprise realizing how to get the biggest bang for their buck with labor.
He was just using that example to demonstrate the fact that doubling GDP does not always lead to a more happier and fulfilling life. It was not meant to be a fact.
Do you even have a brain?
@@eudofia mate he also said it would double GDP if people worked twice as long 😂
Labor unions were the ones who pushed for the 8 hour day
@JW
The nail says ouch.
Keep up the good work.
Wo0dy
Why nobody mention the fact the the FED (private organizations)raise interest knowing that recession can be result of that. We need to read more to be free.
Every economist knows that... But it's better to have a short recession now, than a 10-20 years recession later.
Alberto Merchan Thats not exactly how it works and their purpose. I would recommend you read more about that Monetary policy.
When interest rates are near 0 the federal reserve rans out of tools to bolster the economy if it slows. 1 or 2 percent interest rates are dangerous. I would rather slow the economy and maintain a 3 percent growth with higher rates.
Who is Justin Wolfers?
Pretty well known economist.
Hes my econ professor
Bro wants to reduce GDP by depreciation to environment, give him oscar.
You failed to understand what he meant. He meant to say we need to put a price on environmental deterioration. That, way we will take actions to protect the environment. Quite similar to how businesses put a price on machine depreciation.
You did not get it.
Just keep printing more money dude!!! It's all good!!! Continue Printing more money out of thin air and give it to the people not the bankers $ 1%ers!!!
did he just compare the Australian economy to the states....
That is something I disagree with his views...
I thought the Australian economy was in a rather special situation because it is parasitic on the Chinese economy.
Double work = double GDP?? Is he smoking drug??
Yes
Yeah, like, let’s over produce something that isn’t selling that’ll help our economy
I don't think you or the people responding to this comment have studied Macroeconomics.
@@smashgodtv1345 You're applying a firm level, individual example to the entire economy and I'm doubtful even that your example is accurate. Again, this is not how economics works. Real GDP was higher a hundred years ago when people had less leisure time. Now that we value leisure, we work less and GDP is lower but quality of life is higher. GDP will increase if production increases. Quality of life may not.
@@TheZchristina97 no real gdp was not higher back in the day. Its the highest its ever been ever. We have more leisure time and productivity due to technology. Thats why in the 1920s we had a booming economy and lower working hours. And from that people had more free time. Thats why it was called the roaring 20s. And i wasnt comparing an individual to a whole economy. I was comparing the regional southern economy to the one we have now.
I disagree with Mr. Wolfers' theory. The economy is strong and it will only get stronger under Trump.
The dollar is literally floating currency that is partly getting its evaluation because of some countries in the Middle East like Saudi Arabia and Gasoline. if gas prices are cheap, the chances are that America will be going strong.
Oh Because lazy & corrupted middle class is more harder find "easy money" then you can blame current Government.. i am not US but i see the positive US economic rather then 10 year ago
If you’re not a US citizen your opinion is irrelevant
gr8 video
Study what the rich kids’s father and grandparent did not they do. Developing countries should complete ignore what this guy’s generation. Democracy will only lead to printing money and meaningless wars.
Have you looked at the Bureau of labor statistics? Easier said than done because a lot of people live from paycheck to pay check and can't put money in a savings. But you are rich enough you don't have to worry about it and you sure aren't living in the real world. Just look at this guy. It's hard to take him seriously.
Lol, putting money away? Lol how are people living paycheck to paycheck supposed to do that.
Why don't bring up Peter Schiff?
Trump should learn from the Chinese tax the rich and help the poor.
Unemployment is 4%, and I look just like I did when I graduated from high school, only 52 years ago. People say I look like Brad Pitt in Thelma and Louise!
This guy is a clown. No information was actually given. Just fearmongering.
and student loans dominating debt
HDI - Human Development Index
Bro if you believes this back it up, put all your money on a market short. See how it goes, if not this is a nonsense political attack.
Just knew it was trump just after reading half title
You sure it wasn’t something like:
1. It’s CNBC
2. The tittle...
3. 1+x= Trump
And he is on the thumbnail
Gee, cnbc hating on Trump....whod a thunk it.
End the Fed
The Australian Housing Market is in Crisis; obviously this educator has not been to Australia for years. If he did; there would have been a realization that the housing market is over-leveraged...banks have determined that some real estate markets in Australia maybe overvalued by 40%. Six months ago I left New Zealand to run our business in the USA; in that 6 month period I've noticed a high influx of builders relocating to New Zealand. (NZ has a shortage of builders) Just like the US Housing Crisis; construction companies found no work....builders changed jobs because of the financial crisis of 2008. Now we are seeing housing TV shows from Australia like "Location, location, location" display signs that consumers can't sell their homes because of the overvaluations from Australian banks just like the Financial Crisis of 2008. ruclips.net/video/smPR0s2W-Ck/видео.html
Irene, that may be true. But what percentage of the Australian economy is dependent on the housing sector? The Australian housing sector might be in a pickle, but the overall economy is doing better. In the US the housing market is a very large component of the economy, so its crashing brought down the economy with it. Is that the same case with Australia?
*Not everything is right of CNBC report*
@@Tacocabra proof is listen what anchor saying
This professor has more knowledge than the whole trump economic team
Much of this information is false
bro.. can u explain? im not insulting you..just wanna knw the facts.. i feel the same too..same stand as you..can u explain a bit?
Let’s start with:
1. He says we can double GDP by doubling working hours
2. He says we can increase GDP by accounting for house work/chores
3. He seems to support neoliberalism, something the developing world is growing discontent for
So basically there are some flaws on how to measure economic performances, that more or less we all understand, but this guy is trying to use those flaws as a way to improve the economy? Even I am confused as to what he is trying to say.
Either way, what he tries to sell doesn’t make sense, and the points that he uses are just not coherent. So when he uses fake or unfounded points to make an argument, it falls apart.
@@carknower I mean he's right. You double working hours and production increases and so does GDP. Does it not? This is basic macro.
The part about accounting for house work/chores is just him describing how measures of GDP can fluctuate by how it is measured. That segment was basically about GDP measures, how it can shift depending on what it accounts for, how representative it is of economic conditions, etc.
A principles of macro class teaches all this.
Infinite, so if nobody is buying what you produce, but you double it, then you have all this surplus, producing at a loss, but you’re gonna keep producing at the same rate?
Ah man, he’s a genius and figured out the trick.
So do we change the way we measure GDP each year? Lmao
Ok, so if you clean your house, we should add that to the gdp calculations? What about when you wash your dishes? I mean those are real jobs: dishwasher and maids.
What will be next, we should add foreign revenues made by Americans abroad? Oh wait, there’s sorta a thing already for that: GNP.
Also, what if you don’t produce such as a factory worker, but you work the floor at the Home Depot, I mean, let’s double your hours so they can keep the store open 24/7.
How many customers do you think you’ll get? But it’s not just you, but your co workers sitting around at midnight bored, because the customers are not shopping that late.
I need a recession so I can buy this house at a good deal
One of the worst speakers I've come upon in some time.
Who would you say the best speaker is? Hitler doesn't count btw.
Last recession 2008. Now 2019 and no recession. Interesting...
General Strike May 1st
Fake news.
Mess with the Federal Reserve and they’ll mess back. Buy Bitcoin.
are these top end academics way too wordy? listen to thomas sowell, who's and absolute genius. even if i didn't agree with him politically (obviously i do), he can make a complex topic, as plain as ham and cheese sandwich....it's a gift and he's always had that trait.
while the krugmans and this little cabin boy (you'd hate to meet him on an elevator) just bloviate and elongate on and on....and it's meaningless, because their predictions usually are crazy wrong.
If we work twice as much, GDP would double. Thats 100% AOC's brother.
Waiting for a "Pink new deal"
More "Orange Man Bad" lies... Spoiler alert: it was coronavirus.
Who?
This didn’t age well LOL
Capitalism is dead. The old idea has ran its course. Manufacturing use to be the oil of the US. The new oil of now is technology. Cashing in the tax havens corporations money and using it to rebuild this country smarter and greener. We need to push into the future with energy independence, healthcare innovation and converting our roads, bridges, electricity and water delivery systems with 21st century tech.
You don’t need a whole new grade of education for the adult working class to achieve this. You need hands on training and commitment from everyone to get this done. Adopt the moto that in America, if you want to work, we have work that needs done and anyone willing can come and contribute. ANYONE
Capitalism is the future as long as other effective economic model comes out, capitalism is the best the world got rn
Shoham Das We’ve never tried anything else in America. We have more proof that it doesn’t work than supporting that it does. The musical chairs of capitalism isn’t sufficient anymore. The older generation is trying its best to hold onto it’s detrimental power struggle from the lower and middle class to keep the status quo unchanged. People evolve. Ideas evolve. Systems evolve. This system has not. It’s not the best we have, there are other countries where their population is far better off, your telling me that if we adopt the best other countries are offering that here in America we can’t do it better? This sham idea that we are “the best” in the world isn’t true. I can see, research, and conclude that fir myself from my telephone or computer. What if we really put some meaning behind those words and acted on it? Imagine what things we could achieve.
@@michaelc5019 when you say about other countries where "population are far better off" do you mean Scandinavian countries? If yes, its a wrong equivalence to set and the only other two countries i can think of which beats the US in population is India and China, a boom in the economy and the general standards of living of the people and that's because of reforms of capitalistic nature(true for China more than india as india is not pure capitalist but then it evidently lags behind China and moreover buisness in china suffer due to excessive government interference which is important for the current 'communist' regime to stay in power)
Shoham Das these are ALL man made rules, laws and boundaries set that can be changed. Just as we built them, we can tear them down. Capitalism is not permanent nor is it the “model” system. We need a medical, technology and education based economy. That works for the people and rewards all who participate in it with housing, food and healthcare and as we provide these things, move on to the next step of education and commit to rebuilding lives and families.
You don’t and won’t get to anywhere new repeating the same mistakes and bad habits. This would be generational change. Not an over night switch. Technology is the oil of now. We have to harness it for the betterment of humanity, not greed and profits. Those ways have failed failed failed and I’m far too intelligent to think that capitalism is the answer when it has caused more inequality and generational poverty than just to make someone or some corporation a dollar.
@@michaelc5019 its has never been claimed that capitalism is the perfect "model" system, as all things that exist in reality, capitalism is with it flaws but you just cannot ignore the billions it has lifted out of poverty, wealth gap is the price we pay for it since we don't live in an IDEAL world where everything is PERFECT, my father lifted himself from NOTHING, the free market gave him that opportunity and here I'm leading a privileged life and soon to contribute to our meritocracy
*THEY NEED TO PUT MUNCHKIN IN JAIL WITH THE REST OF THIS ADMINISTRATION!!*
I have listened to economists for decades, one thing that is for sure, they rarely get it right!
paul krugman might be 0-155.....i would have fired that snobby fella after 0-20......but no, he's still the finance wizard when he has maybe never been right.
can you imagine being a baseball player and you're 0-2000 and the team pays you more every few years?
at this point i read his opeds just so i can confirm how meaningless and partisan his takes are....i'm sure he's very intelligent (ehhhh) but man, the failure rate is amazing.....and any other professional with a losing record like that would be looking for a new home.
Go trump #trump2020
Anyone going to ignore the fact that this dude has a British accent? (While talking about the American economy?) Don't trust him.
A chain is only as strong as its weakest link.
Its Already happen!......most just didnt realize it.... Yet!
TRUMP= BEST THING EVER TO HAPPEN TO THE REPUBLICAN PARTY!
So many wrongs with this video, where to start?
1. The U.S. hasn’t really been expanding for 10 years. All the FED did was prevent a depression. Quantitative Easing didn’t end until 2014. Real analysts show the expansion beginning anywhere from 2013-2015.
2. Using GDP or GNP both have issues, but his prescriptions are stupid. You cannot double GDP simply by doubling work time... it’s sad that this is what he teaches his undergrads.
3. His points against GDP are really not about economic growth or performance, but rather about measuring the quality of life and social issues. Like pointing out a “rich” country but “poor” citizens?? Completely different metrics. Not that it’s unfounded to look at and study, but that it makes no sense in this topic. In other words, just fluff words and a distraction.
3. He is clearly stuck in Econ 101 regarding supply and demand. His advice about saving now and spending later is... alright, but don’t go out spending thinking you’ll kickstart the economy again. Rather use those savings to support yourself until you can save again.
I could do a complete response as to why you shouldn’t listen to this guy just based on this one video here, but it would be long and you wouldn’t read it.
Just know, that real analysts and real economists are out there. This guy isn’t one of them.
People are worried about a recession as its natural, but Trump is not the reason why. If anything, Trump, having already announced his intent for re-election will be more concerned with the economy since it will be the ultimate platform for his reelection.
Seriously, think for a second, if the economy goes sour before he secures the office, the Democrats will have all the ammo to win. They will use it to support what they’ve been saying: that the system is “broken” and will promote their ideologies and big government as the answer.
No doubt the system has flaws, and the battle for government and economic system has been going on since the American revolution, followed by the French and so on.
What you should be worried about is how much freedom and liberties are you willing to give up to have food. As history has shown us, this is the critical point where we give into serfdom.
If you read this far, I’ll end with this.
I don’t criticize the left for their ideas to serve society, because it criticizes the evil in corporations or because it wants to tax the wealthy. I criticize it because they don’t understand what it’s actually happening. They don’t understand the history of the individual and of society. They don’t understand (or maybe they do) that they are undermining our liberties and democracy. They are trying to use an old idea, limited by the technology of an old era, to meet the problems of today and tomorrow.
Agreed
yes yes very interesting....but actlually if you could just help me out I am a nigerian prince who would like to help you but my money is stuck in a trust, but with your help I would love to get it for you
Is he a economist or something else??
Yeah sure Trump and his inexperienced staff will cause the recession. playing ignorant must be exhausting.
Crikey
Same types of videos from 2016 with different weirdos everytime. Do these experts take tuition from AOC?
@@Tacocabra Keep commenting we want to double GDP.
Called it.
Crap. Called it. Later.
Um, Australia’s boom had everything to do with China’s boom and China is slowing down. So, don’t pay yourselves on your back too hard. Wasn’t that much of an accomplishment when your’re commodity rich and at China’s doorstep. Plus, Sydney and Melbourne’s housing is beginning to melt down. Strong, yeah?
And employment rates are almost always lowest prior to a recession so I wouldn’t parade that stat around too much either.
Guy talks about how great the last 10 years was... talk about cherry picking your stats, buddy.
And best of all, what does improving GDP have to do with feeling respected and loved?! Lol. Students may want to avoid going to Michigan University, some quacks teaching over there. Most jobs are going to get automated away so students should find education that will give them a future (hard to automate away trade jobs, let’s say), think and little deeper, and worry less about the fuzzy feelings.
Hahaha
maybe cuz of the wall issue
Bullturd! Go Trump plow the field for new growth.
TRUMP IS THE GREATEST PRESIDENT WE'VE EVER HAD IN THE HISTORY OF THE UNITED STATES OF AMERICA !!!!!!
Good thing is everything this fella says. the opposite happens. Who the heck is responsible for giving this goonball airtime?
Tribalism.
Trump in the white house.
Are you sure the dude who needs a haircut is cute/sounds smart enough to use as clickbait for the Democrat voting audience that you’ve chosen to feed?
I know many would love to see a recession happen on Trump's watch. But it's not going to happen. Other issues may happen leading to Trump's demise but the economy isn't going to be one.