What Are The Biggest Threats To Economic Stability: Jeffrey Sachs
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- Опубликовано: 23 июл 2024
- Companies' bottom lines will be affected by geopolitical tensions, and inadequate planning for climate change says Jeffrey Sachs, economist professor at Columbia University. In this episode of The Bottom Line, Professor Sachs explains why productivity measurements are wrong and why a recession may be imminent.
Chapters:
00:00 - Introduction
00:19 - Geopolitics
01:15 - Productivity
02:20 - Artificial intelligence
04:57 - Recession
06:55 - Inflation
07:50 - Climate change
10:10 - Immigration
11:48 - Will the U.S. remain on top?
Produced, Shot and Edited by: Mark Licea
Supervising Producer: Lindsey Jacobson
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What Are The Biggest Threats To Economic Stability: Jeffrey Sachs
Simply amazing guest. Super fluid thought process and well articulated all the points touched with lucid elaboration on critical issues like climate change, global money supply its impact and how can government act to resolve ongoing issues. He has definitely given a food for thought for the policy makers. Much respect!
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Im honestly impressed by how intelligent Sachs mind is, and how true and rich the answers are. This is powerful stuff. Big respect.
Doesn't that make you sad that he is a small minority in main steam media. Americans prefer warmongers😂
A total lot of hot air from Sachs which is typically what he is only capable of.
I am surprised NBC will still talk to Jeffery Sachs, given his strong criticisms of US foreign policy.
Right, he's an employee of the Chinese govt, he's listed on CGTN'S website as a contributor.
@@lettucesalad3560 I don't think that makes him an employee of the Chinse government. It is like saying that t contributor on the CBC is an employee of the Canadian government.
@@darajan6 See my previous comment.
@@darajan6 I am more inclined to believe scholars over media hosts and politicians (I have a PhD myself), but that is precisely why I am surprised to see Jeffery Sachs on CNBC, because they do not often speak to him or other scholars who clearly think for themselves. I like Jeffery Sachs, but normally I only hear him via much smaller (and usually quite Left wing) news organizations.
@@darajan6 China/CGTN lists Jeffrey Sachs on their own website. Search for "CGTN and Jeffrey Sachs". CGTN is fully funded, operated and controlled by the Chinese government.
The CCP is famous for buying off scholars to steal IP, research or do their bidding.
I would suggest you pull your head out before you go around acting like you're so knowledgeable about the world. Try some true scholars about China like Adrian Zenz.
Jeffery Sachs is the best and most reasonable think thank out there. Wish we had more of him the US political arena.
WuMao WuMao WuMao. Glad you made your 50 cents today to feed your family.
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.
The stock market rally run is gone, but I'm not
sure if equities will swiftly recover, keep falling, or fluctuate in a narrow range for a few weeks, or if things will quickly get worse. I'm under pressure to increase my $300k reserve.
the market is profiting if you are using a good broker or account manager to help out with trades or provide signals
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Do you happen to know her contact info and /or willing to pass on her info? I'd really appreciate it.
To my understanding this just proves how much we need an edge as an investor because playing the market like everyone else just isn’t good enough. I’ve been quite ensured about investing in this current market and at the same time I feel it’s the best time to get started on the market, what are your thoughts?!
I can’t focus on the long run when I should be retiring in 3yrs ,you see I’ve got a good companies in my portfolio and a good amount invested, but my profits has been stalling, does it mean this unstable market doesn’t provide any calculated risky opportunities to make profits?
@@AnnieBeischel There are many ways to achieve mouth-watering gains, particularly in a bear market, but such complex trades should only be executed by qualified market professionals.
Biggest threat is greed and allowing corporations and real estate investors to buy up all the single family homes. Heads will roll.
djp would you turn down a raise if you could get one ? I have NEVER found anyone that would turn one down...but tell me about greed again ? LOL
@@Sondan1988 I’m obviously not talking about the working class. I’m talking about parasites who are stealing from the working class.
@@Sondan1988He is talking about affordable housing, and you are talking about salary.😂😂
@@Song-TheNiceGuy can you tell me in objective terms what 'Affordable Housing' is exactly please ?
@@Sondan1988 Housing that minimum wage workers can afford, housing where retired elders could live, and living space with lower rent for college graduates who are 40,000 dollars in debt.
You know, the society safety net every developed country has.
I wonder if individuals who went through the 2008 financial crisis had a relatively less challenging experience compared to what I am currently facing. The current market conditions are causing significant distress for me. Specifically, my portfolio has suffered a loss of over $27,000 in just this month, and my profits are diminishing. This situation is raising concerns about the potential impact on my retirement plans, as I am unable to increase my stagnant reserves.
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Jeffrey always grateful analysis thank you 👍
Thank god some main stream news sources are featuring voices of reason.
Finally a major platform gives Jeffrey Sachs a platform to speak truth.
As long as he agrees not to talk negatively about the US, that's for sure
@freemanol yup. That must have had some kinds of agreement before on-air.
@@freemanolthe controlled U.S. media will make sure of this
you mean other than RT and CCTV
It is Pre recorded and cuts to whatever they don't like to hear..
The biggest threat to economic stability is the economic system we've chosen. "Endless growth" is guaranteed to fail and is therefore inherently unstable
I love how the interview jumps to the next question after Sacks says "make the wealthy pay more taxes.".
because its not an interesting answer with any kind of depth. Tax the rich is a generic slogan meant to make the uneducated masses feel better.
The upper 1% not middleclass should pay
My mom.always asked why the rich wouldn't do more like in China 😂 because Sasch lived and worked there so that's a matter of perspective. That was common outside of US folks
@@ajr993nd the greedy mercenaries who have been eating all by themselves will have to be on the menu during their WW3, there's just no other option...weaponising liquidity against those they so insecure to compete fairly with thou been printing fiat currency from thinair but deliberately refuse the minorities....enough
Waoo thank you cnbc , this is so educational,i learned a lot just in 12 minutes
Excellent guest 👌
Very interesting insight, but I still say in terms of the war, there’s an aggressor and an occupied state we can’t just believe peace is easily achieved. The aggressor must thwarted
I do take into account that economic shocks are bad for the economy, but an unchecked aggressive military power is even worse for sovereignty.
Climate related economic shocks are the biggest issue, and will continue being, going forward
The US has the power of stopping the war. All that need to be done is Otan open hands of Ukraine and let bases of Russia to ensure the agreement. There is no other way. Russia does not need and does not want control Ukraine, what they want is Otan out of there.
@@learnwithgames7994 that’s very disingenuous
awesome interview, more like this pls
Always good and honest answers. Very direct, and no B.S. He is really good.
Imagine if we had a presidential candidate talking about all this stuff last election cycle.😊
Thank you
A lot well addressed in a short time.
Wow. An Excellent Discussion
Very nicely described
Great Prof Jeffrey
Good one after long time in CNBC
Good very good points
WELL SPOKEN THANXXXX🫡🫡🫡🫡🫡🫡🤠🤠🤠🤠👍👍👍👍👍👍
My respects to Jeffrey. What a great speaker and thought leader.
More segments please with Mr Sachs
Nobody outside the government inner circle even knows what's going on.
Global challenges and other mentioned factors needed to be adressed now to bring economic stability.
Professor Sachs needs to get interviewed across different channels because he provides a unique and independent voice that is not bribed by vested interests.
He has the audacity to criticise the mainstream narrative when extreme selective reporting occurs to advance particular political agenda
Jeffrey Sachs is a good man with no bias.
Wrong. You have your head stuck in the sand. Sachs wants to have peace with a maniac dictator who has murdered his opponents and broken over 20 international agreements in the past 30 years so and has invaded other countries to annex them.
Sachs is an irresponsible idiot whose only objective is self promotion.
I realy to see that such a wise Man would become a President of USA. Thank You so much for wise words and thoughts
Why is always about paying more in Taxes and not about improving Government efficiency and the quality of out politicians. AI is a tool that can help with that too, essentially doing more with less.
The debt is too much, spending is too much, the law benefit and protecting the rich, the endless war everywhere is eating out US.
My guy looking like Jason Bateman with a couple of decades to his name
Good advice on countries to hold talks/negotiations especially by the nation Superpowers to ease tensions but it would be hard to have talks if a Superpower nation first unilaterally invade before talks are held as what happened in the South China Sea & Ukrainne .
Economists who ignore the depreciation of durable consumer goods.
How much CO2 is the result of unnecessary manufacturing due to planned obsolescence? How much is the annual depreciation of durable consumer goods?
House prices. Why is it an investment rather than a home
The current economic system contributes to instability, inflation, and poverty. A new Creative Society economic model is required, one that can guarantee everyone's stability, security, and a high standard of living. But unfortunately, whenever the leaders we depend on appear on TV to tell us not to panic that everything is under control, that is actually the time to fear the most! Saddening...
What the public thinks is irrelevant to our leaders. We've been used as pawns for a very long time. People are really going through real life crisis right now. This is no more a recession, its is a major depression. The corrupt government will end this country, just like what happened to Rome. My sympathy is extended to anybody who is close to retirement and may be concerned about the viability of their pension, particularly in light of the ongoing increase in the cost of living.
geopolitical: the political gap about the budget is still strong. default risk is still strong. Sure, congress and the president did pass a budget, but only for two years. Default risk is still a liability to American economic security and is a national defense and espionage issue.
Did you notice that we are constantly in this alert state, with economy issues since 2008 and war in every year... There is always an excuse why you have to work for nothing.
It's a damn truthful fact that one part of the world fighting helps the world economy progress.
Can we start a move -“Nobel Prize nomination of Jeffrey Sachs”?
He has done nothing but promote himself. Get you head out of the sand.
Okay, GPT-7, how can I earn a lot of money... wow. Okay, GPT-7, how can I avoid taxes... WOW!
Sachs is tried and true. Jeff we have been listening for years and we love your spirit for justice and peace! He's one of the few who has learned from youthful mistakes. He has turned much more towards the left after the tragedies that Russia suffered under his initial privatization plans. Few luminaries can claim the same adaptability or change of heart for the better.
You are totally wrong - it competely collapsed under communist socialist rule. Why have you ignored that?
The best thing our country could do is start investing heavily in housing instead of war. Creating a surplus in housing owned by federal, state, and local government agencies that are rented out on an ability-to-pay basis with the revenue received used to fund needed social services is the way to go.
And we wonder why the homeless problem keeps growing 🤦🏻♂️
that answer on immigration was ODD 10:10 Kind of, out of touch of just straight evasive. Great interview tho. thanks
One of the biggest threats to car manufacturers is the un willingness to build small cheap EVs .MOST CARS ONLY HAVE ONE PERSON IT SO START SMALL THEN WORK YOUR WAY UP TO LARGER EV'S STARTING AT THE TOP FOR WEALTHY .ISN'T GOING TO GET IT DONE
When you think about it though, is there really such a difference between billionaires and the average citizen? They are just people after all. The only difference is they live well (usually in luxury), and don't worry about money and can get whomever and whatever they want when they want it.
The main difference is precisely that they have more money than they can reasonably spend.
reporter keeps cutting him off whenever he talks about the geopolitical reasons and the need for peace lol
As Economist, the picture is scary and he is write, we need to be forward looking and be ahead of curve, geopolitics is key of economic stability for world
There is nothing to understand better. A.I. which I have learned is something of a new corporation. A world changing from a business mind into an artificial minded place. Artificial corporate takeover in its friendly phase soon to be more aggressive. The planetary bad karma is a simpler way to explain global issues, in my opinion. Yet all of these issues are just well thought out distractions. A better way to look at things is to identify the dishonorable relationship with the planet. I have a system developing that allows humanity to have a honorable relationship with the planet economically, intelligently, politically, militantly, academically and religiously. I call it the true to the living system. Hope we can speak soon
I laughed when Sachs says all you have to do is accurately predict how the world will be in 20 years. Predicting the future is impossible, yet all talking heads are expected to do so. Musk did not predict the future. He took an educated guess and a huge gamble.
No he didn’t, someone else came to him with the idea looking for investment and he stole it and pretend that he was some genius inventor!!
@@Xrey-ek5sh I’m not surprised. That happens a lot unfortunately.
I can sum up them all Rishi Sunak for the UK
If politicians would do half as much foolery as they have been doing all along, the world would be much better. I will not positively say all this environment stuff will not make any decisive difference at all in terms of global warming, yet I have to say I'm fed up with this endless fuss and farce at the expense of poor people and middle income people.
World must continue and increase trade, war must end and interest rate must stop to rise/ interest rate needs to decrease due to huge debt in the system
DUH Personal checking system
Putin must love Sachs. Daet Prof. : educate us plz....how to make peace with Mr. Putin? Let us loop in his buddy Mr. Prigozen LoL
PAY workers more. Jobs for all. redistribution, prosperity & sustainability. Leaders with no clues. remember the President;s Scientific advisory panel ? Of course not. Carl Sagan' last interview.
I would say Artificial Intelligence does to office jobs what industrialisation did to the hand-manufacturing jobs. You'll not find many gluing soles to shoes by hand all day long these days but even with great machines there's still a lot to do by humans and hands. The same way many people who are reading, understanding and responding or forwarding simple requests all day may lose their current job but AI has still quite a lot of hard limits to just do it all itself and so I would say it creates more jobs but with people trained more all-round.
AI will be more of a threat to a Law Paralegal's job then to a Janitor's job.
It's not so simple. A frustrated human would still want another human to yell at at a call center. He would hate it if a robot is on the other end.
@gamer-ff6mh but that is disappearing anyway. Many businesses are hiding or not even operating a call centre. Try to find the phone number to call youtube for example.
That rug couldnt look any faker if it had a chin strap
We r all very poor and also very unhappy
But muh capitalism, we ain’t want no commies…
Said some guy in rural Alabama making 20k a year.
They say productivity is down for a century look it up
What do you think population?👍👍👍👍👍
No war, no sanctions, compete, compete, compete, new business models, AI, 3D, Healthcare, Reduce Carbon - who will bell the cat, certainly US, China, Russia, EU, Japan, Indonesia,
Every day is an opportunity to make a new happy ending
I’ve made many videos teaching Chinese in a humorous way.
About 3000 Chinese characters cover 99% characters in newspapers and books. From my previous videos you can learn more than 400 common characters.
There are about 120 commonly used Chinese character radicals. From my previous videos, you can learn more than 80 basic radicals.
I’ve spent about 100,000 hours studying English humor and Western culture, and many years studying Chinese culture and jokes. My native language is Chinese.
#1 is the Fed
Dr. Walter White!
He looks skinnier now, he is worried, he is trying so hard to make the message out,
MEXICO REPLACED CHINA as NUMBER ONE EXPORTER TO USA. Usa GDP JUNE, JULY
Saying stop the war likes its an easy fix lol
Yes you can start by talking and negotiating instead of sending weapons and also maybe not send warships and planes to surround other countries territories, see simple.
It is.
1. Ukraine writes neutrality into their constitution. (NO NATO)
2. Crimea is recognized as part of Russia. (Its overwhelmingly pro Russian locally, that's what the locals want.)
3. Zaporizhzhia, Kherson, Donetsk, and Luhansk are all given the choice either individually or separately if they want their Oblast to join Ukraine or Russia in a UN endorsed, OSCE observed referendum.
Then figure out compromises on small issues like Crimea water, Oil by Crimea, maybe Kaliningrad removes its nukes, maybe American ships cant enter Black Sea, Ukraine joins EU, etc.
I feel for this guy having to deal with such a mindless interviewer. The "bottom line" of some company nobody but the shareholders care about does not matter.
Please fire this interviewer. The more questions I hear the more disappointed in CNBC I become. Props to the guest for keeping it together and managing thougtful responses to these braindead questions.
The best way to reduce carbon and energy free,
1) Build the house around work place or near to work place. It'll reduce transportation. It'll reduce traffic and boost public transportation and cycles. It'll reduce fuel consumption and carbon emissions and air pollution.
2) Avoid official travelling by making online meeting as priority.
3) increase the energy tax for personal vehicles. Reduce the energy tax for commercial vehicles and public transportation.
4) increase and Use semi speed and high speed rail network efficiently. This will reduce air transport.
5) Save and protect agriculture land because food is the future economy and country should self reliant on this.
6) In the past 30 years mobile, internet, Digital had changed everything drastically. Politicians should learn from the past and strictly always think about the future because AI starts evolving. No one can predict how things will change in future and no one can predict the timeline of AI development. Once AI fully developed then massive job cut will be there and indian IT field will collapse slowly.
Democracy.destroys😢😢
Even though USA is in top.... Still homeless and illegal immigration are going to pull it down a bit.... Domestic issues should be addressed with top priority.
1. On the topic of A.I. - I still want to know who will be paying taxes and contributing to social security if a lot of jobs are taken over by A.I.?? I also stand 10 toes deep when I say that A.I. should NOT have feelings or become sentient!
2. I agree with this guy on a lot of points, but I have to slightly disagree with him when he brings up the topic of electric vehicles. We got to FIRST fix that failing POWER GRID before we can go all electric. You see all these heat waves are taking the power grid to its limits? OK - let's take the current weather events in the U.S. + all vehicles starting tomorrow are all electric = X__X
I just see a lot of people being trapped and potentially cooking or freezing over (depending on location) because we went all electric with the power grid in its current condition. Let's also not forget that the vehicle's climate control system and how you drive the car will have an influence on a vehicle's battery range. Lastly, I don't even wanna know how much those batteries cost after the warranty expires or what they do with those batteries once they've reached the end of their lifecycle.....
No way to adapt? Seriously?
A lot of easy talking: to "start the peace stuff" first ask Russia. Maybe reelection is not the first concern if you have some values. Europe will never depend on energy from Russia again. Trade gone is gone for next 50 years.
In the last minute it was mentioned that USA can not be the largest economy because there are countries with much larger populations in the world, So why not try to increase the population of USA?
Why does the US have to be the largest economy? There are only 2 ways to increase a population: encourage more births or more immigration. Encouraging births can be done through more family-friendly policies: paid maternity and paternity leave, child tax credits etc. We already know the right in the US hates those "handouts". We also know the right hates more immigration.
Increasing the population too fast or artificially would literally mean a lower standard of living for everyone individually.
@@tallest4eva The US has to be the largest economy in the world to maintain its position as the most powerful nation in the world. Encouraging people to have more children doesn’t necessarily mean it has to be done by the way you mentioned above. The best way to encourage people to have more children is to reduce their costs of life for example make affordable housing more accessible for people since one of the main sources of draining people’s income is for housing. Or spread more public services like public transportation which will benefit everyone and the environment. The right does not basically oppose immigration, what they want is to have more qualified immigrants with higher education, skills, talents and wealth to go to USA which is right and these types of immigrants are good for economy because they create more jobs.
@@faridjafari6356USA legacy has been built on western colonialism and exploitation, your time is up!!
@@tallest4eva Why can't Africa be convinced about how their standard of living could go up if their population growth decreased?
This kind of critical thinking is what is lacking in the leadership of our country... so mane have given up paying attention!
All I hear is rich people will be fine… everyone else you’re on your own.
He manages to respond to imbecilic questions with breadth and depth. Impressive for Mr Sachs, embarrasing for his interviewer.
No. She's asking important questions that needs to be asked to a well knowledgeable economist.
A handful of oligarchs (the bourgeoisie) privately owning the means of production, distribution and exchange.
anything can be a threat but it depends
why is there no Polish translation for
Wala kang laban sa pag sira sa buhay mo at wala kang ibidinxa sa ginawa sa buhay mo ginulo ka at wala kang karapqtan sa ginawa nila pang gugulo sa bubay ko w
Kaya ganun ginawa sayo sa pang gugulo sa bubay ko pag sira sayo sa kakahiyan
2050 if anyone thinks we will be around by 2050 is a fool.
You'd be surprised...
What the hell does 'Sustainable Development' even mean ? And you are interviewing a guy that supported a Socialist ?
So this Economist thinks we should placate Russia and their invasion Ukraine ? Which one is it ?
A ?FAIR? assessment ? Sorry professor but Fair is subjective, not objective.
What is the old saying ? ‘Those who can, do; those who can’t, teach’ - George Bernard Shaw
Well... and the rich get reacher and the poor get poorer. Is that a consequence of climate change too?
What Are The Biggest Threats To Economic Stability?...
Billionaires
And climate change
STOP being #1!!!!!!!!!!!!
CA taxpayers are the winners since AI company and multimillionaire investor profits will be highly taxed and returned to benefit all CA taxpayers. He knows little.
'US has to stop the war stuff.'
Kind of a joke really, and a bad one.
''Hey Ukraine, accept the territory losses so the US economy can do better.''
Good can't wait till guys pack up and leave