$277,000,000,000,000 of Global Debt: Who Owes it & To Whom? - TLDR News
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- Опубликовано: 23 янв 2021
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Money is a complicated thing. Trillions of dollars worth move every single day, but $27 Trillion Dollars of that is global debt? But what does that mean? In this video we explain what global debt is, who owes it and to who?
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1 - www.investopedia.com/updates/...
2 - edition.cnn.com/2020/01/13/ec...
3 - www.iif.com/Portals/0/Files/c...
4 - spendmenot.com/blog/national-...
5 - www.businessinsider.com/heres...
6 - hbr.org/2020/02/how-much-mone...
7 - data.worldbank.org/indicator/...
8 - www.ft.com/content/4fd4e6ac-4...
9 - www.tutor2u.net/economics/ref...
It’s all fun & games until the Bank of Alpha Centauri calls in Earth’s global debt.
Hahaha
😂😂
I know right. This video is pretty misleading.
They're still going after Zaphod Beeblebrox
💀💀💀💀💀💀💀💀
277 trillion debt
At least half is the amount my sister owes me
Does this mean your sister is responsible for like all the States' debt combined
Yes
Are you Claire from Fleabag?
@@abhigyanbg5764 no
i have 86 trillion$ i am richest man in universe
I want one full video with this guy just spiralling without any cuts 😂
TLDR Conspiracies
The conclusion is money is the same as the ceilings, the truth is there is no ceilings...
Kind of like a bdsm version of asmr
@@lerpalerpa581
Lmao. You killed me brother.
Just watch vsauce lol
Like Warren Buffet said, dividends are only good if the business you’re investing into can’t make good use of that capital. So if you’re trying to invest into businesses with actual growth, looking at dividends is a waste of time. Why are you investing into a company if they’re returning capital to you because they think you can make better use if it than they can. It’s not much different from bond investing. The way I see it if you have a $1 million at some point, that’d be enough to create a portfolio that would pay you between 50k-70k in dividend income...
It's not difficult, but you have to learn and handle. Another thing is that if you can't manage your home, maybe you shouldn't invest on your own. If so, you should hire a CFP to help you diversify your assets to include ETFs/index funds/mutual funds and stocks of companies with consistent cash flows, rather than betting on penny stocks.
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@@Aziz__0 Sure. , NICOLE DESIREE SIMON a well-known person in her field, is my advisor. I got to know her through my wife. It's my wife that has her number, but you could further investigate her credentials and contact her yourself.
@@kurttSchuster Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
This video was released 500 years too early.
Greetings from the Imperial Territories of Prussian Mars.
277 trillion in debt for Earth? Good luck getting that back.
Earth: Slowly rotates
Japan: "Hey Dave. We're in a lot of debt and just don't know what to do"
Dave Ramsey: "Sell the car, get a second income, beans and rice, rice and beans"
I think they got the rice part covered
🤣🤣🤣
@@dominick6131 They also sell more cars than any other country.
Lmfao, underrated comment
Japan: we are looking at a Tuba degree.
Dave Ramsey: sell the car, beans and rice, rice and beans.
Johny owes Ted 1M
Ted owes Sally 2M
Sally Owes Lilly 4M
Lilly Owes Alen 10m
Alen Owes U.S.A goverment 277T dollars
us gov owes alen 277t bro
This video really needs more depth. Global debt is pretty simple as a concept but it would be interesting to us TLDR fans to understand the consequences of debt interest being larger than the gdp of a country and whether this is sustainable.
Also, what effect does this borrowing and debt have on countries in the short term and long term using specific economies as examples.
P.s Love your videos and very appreciative of all your hard work!
It's not supposed to be sustainable. It's a red flag if a country owes more than a 100% of its GDP. It suggests they're heading for a default. However, some countries (notably Japan) seem to get away with it for a long period of time (which is why Japan, as well as Argentina for other reasons, famously flummoxes economists). Modern Monetary Theory (MMT) partially arose to help explain this, however it's still very contentious among economists. It's also not the kind of topic that lends itself to a TL;DR video treatment, btw.
@@ArawnOfAnnwn Japan is biggest owner of US foreign debt.
@@ArawnOfAnnwn Japan's debt was owed to its own people. Argentina owed foreign debt. Makes difference. In US, most of the debt owed is domestic. The government can make good of the foreign debt, but skin the domestic debt. Japan owes a lot of domestic debt, but Japan lends money to US. Same is China.
Japan actually produces stuff, that's why they get away with large debt. Venezuela doesn't produce anything except oil and thats why they have hyperinflation, rich countries produce, poor countries consume
@@ArawnOfAnnwn the main reason because certain nations like Japan and the USA get away with their huge debt, is because of perceived solvability from a somehow steady economy and because they "own" most of their own internal debt (4:49), compared to Argentina and others who borrowed heavily from international services.
This means that most of the money are borrowed from their own economies rather then from outside.
Italy, which has a similar kind of debt to Japan, compared to, for example, Greece, faces more of a "bureaucratic" problem as it's pre € economic model clashes with the rules established in Bruxelles, which makes no difference from where the debt comes from.
Oh.. I've seen this one. It's like when the Galactic Republic, during the Clone Wars, owed the Intergalactic Banking Clan a lot of credits so the senate nationalized it instead
Nice one😂
F O O R T H E R E P U B L I C
*gatling gun blasting*
That type of stuff is actually pretty interesting, and fleshes out the star wars universe. Too bad some people regard it as boring and "non star wars"
@@RaharijaoDavid those type of people aren't true star wars fans.
I AM THE SENATE sorry I had to say it
"who tf do we owe? the decepticons?"
The Aliens
The #Ferengi
tell me you didn't watch the video, without telling me you didn't watch the video
Yea, Megatron being the largest creditor
Satan.
Don't fret, the debt ceiling always goes up. I wonder if 2008 crisis survivors had it easier. I'm concerned about the stock market, I've lost $35,000 this month, and my income is down. Worried I won't save enough for retirement as I can't add to my savings.
Save at least 20% in your 401(k). Use online calculators to determine your ideal contribution based on age and income. This strategy ensures a comfortable retirement and capitalise on compound interest for growth.
Amid the complexity since 2009 and Corona, consider diversifying your portfolio. A colleague grew hers by $160K with defensive system and an advisor in this turbulent market.
Can I request your recommendation for the coach you're currently using?
My advisor is Stacey Lee Decker, a highly respected professional in her field. I encourage you to delve deeper into her qualifications. With her extensive experience, she is an invaluable asset for anyone seeking to navigate the financial market.
Thank you for the advice. I had no trouble locating your coach, and I conducted thorough research on her before arranging a phone call. She appears highly skilled based on her resume.
You should do a video on modern monetary theory
I second this
Third.
There are better channels for this.
there already is one, search "how to have your cake and eat it"
@John Ashtone Actually MMT is reality now. The whole government debt thing is just governments pretending that they are not already practicing MMT because a lot of voters don't understand economics. A similar thing happened with the gold standard. Countries like the US pretended to use the gold standard even though they knew there was not enough gold to cover the money they issued.
MMT in action;
www.statista.com/topics/6441/quantitative-easing-in-the-us/
5:48
On-screen text: $81.3T
Spoken Words: $18.1T
Dyslexia or dyscalculia? Who can tell?
Curious that US is scarcely mentioned in the whole video at all when it has the 2nd largest external debt at 8.766 trillion USD and frequently prints more USD to fund their deficit.
Well the country is worth 11 trillion in gdp so it doesnt even come for 100% comparing it with its overall gdp, all these countries japan 236% greece 180% have way more that way
bruh it's 28 trillion now lmao
@@GamingFreaKorea its not external
@@lukajovanovski1178 - what are you talking about? The US National Debt is $28.505 trillion; the US Total Debt is $85.186 trillion; the US Unfunded Liabilities are $150.861 trillion; Total Debt + Unfunded Liabilities are $236.047 trillion.
usdebtclock.org/
usdebtclock.org/world-debt-clock.html
@@GamingFreaKorea yes and the US doesn't worth 11 trillion dollars anymore. National debt in relation to GDP is 127.11% so technically the US is in bankruptcy
Lebanon officials be like:
"yea national Bank we need another 5 billion for ourself..... I mean to provide electricity and keep the country's natural resources clean"
And don't forget for garbage pickup.
@@JJs_playground yea how did I forget
I wonder how's life there....Everyday I feel grateful because I know someone out there ia living a harder life than me
@@adude8424 No, life's not hard as you might think it is. It's only hard on politicial level and how the government controls the economy wnd agriculture. Other than that, life's good الحمد لله.
@@mahmoudaboualfa5136 bro, don't downplay it like that.Life is not good in Lebanon. Ever since the economic crisis 1-2 years ago, and it was brought to the pubic the political elite has depleted their foregin currency reserves - basically stealing and theifing it to themselves and their family owned companies, the banks banned everyone to withdraw any money, basically FREEZING all assets.
And instread of solving this political issue, they keep stalling it, leading to "hair-cutting" ALL the lebaneses balances, by devaluating their own currency (1.5k LL was ~1USD, now the offical rate is 10k LL, and on the black market that value goes even worse to 1 USD ~ 12-15k). This means the lebanese people are slowly paying for what the politicians stole by having the bank sitting on money they cant withdraw, pay with or exchange to other currency, untill the value of the Lebanese Pound is worth nothing.
TLDR; the Lebanese have super high level of unemployment and heavily increased poverty, with prices on basic staple food increase 2-10 times the price, while sallary remaining the same, if you were lucky enought to keep your job after/during (the still ongoing) economical crisis, and people that saved money in the lebanese currencey for a lifetime, maybe thinking they had something worth a house, well now is it could only buy you a car, if only you could access that money!
You need to depose and execute ALL your leaders high treason man!
كلن يعني كلن
4:05 There's quite a contradiction here
"When we combine *all those types* of debt, which countries are in the most trouble? As of 2020, the clear leader is Japan, with a *national debt* standing at 234%..."
Those figures are only of the national (i.e. government) debt
You sure? I thought, national debt incompased all the other forms
@@gabrielsiteny 'national debt' is only the government borrowing
@Nikhil Prem and...?
@Nikhil Prem Why are you talking about national/government debt? Household and corporate debt is completely different to that
Yeah, he kept changing what he was counting through the video
Ironically, even though Japan is (by far) the most indebted country in the world, it pays 0% interest in most of its debt.
In fact, the 3 year Japanese bond has negative interest!
If you lend 1000¥ to Japan today, you will receive 999¥ in 2026.
Also, the Japanese Central Bank owns most of Japanese debt (so basically the government of Japans ows itself all that money).
As always, everything is more complicated than what it seems.
why would anybody buy bonds there… unless deflation rate is higher than bond rate of return?
Soooo, your saying we can just eliminate the entire national debt by simply... not paying it? 🤔🤔🤔
The national debt pays the jobs.
Realistically, much of it is never going to be repaid.
Dude. THANKS. Seriously, that was so simplified and so well explained. I have an MUN to do on debt traps and stuff and my mind was going bonkers until I saw this. Thanks a lot!!
We need some saxophone in the intro
I didn't know I needed this but now I do
Yep! They could use Epic Sax Guy for TLDR EU.
Bill Clinton playing the saxophone, please
yes
This please
Here's how it goes with our government:
- A politician takes a loan promising better Infrastructure
- He and his colleagues use about 1% of the total sum borrowed to improve infrastructure and half-ass the whole project
- The politicians take 99% of money and put it in their pockets
- The country is left in an even bigger debt than before without any real social progress.
Rinse and repeat with a few big projects a year. Easy money -_-
You just told everything about lithuania
@@Austeja608 he just told everything about most countries in this world to be honest
@@morrox5206 for real
american I presume??
@@alpearson9158 No, America is a dream land compared to us.
You are so underrated, these animations are amazing!
Thanks, for providing such valuable information.🙏
Something that perhaps was missed here is fluctuations in instruments such as gilt edged securities - despite bullish bond markets in 2007/2006 , there hasn't been a upturn in bond markets .e.g, in the UK it's better to for corporations to keep monies as cash reserves without purchasing government backed bonds (which perform with less against than CPIX or even RPI performance).
This is a common feature found in developed and mature economies - e.g. Japan, the USA, the East Asian Tigers.
The best definition of money I heard was "an arbitrary measure of value. Like an inch is an arbitrary measure of length." It's only as useful as the amount of agreement and cooperation it elicits.
Nice one. Just found this channel. You deserve more subs!
Such an amazing video. God bless you!
it has been a long January, I feel you guys 😂
Have got permission to " feel " them ?
@@johannbrandstatter7419 📸
Man, that "That's what she said " joke was excellent!
I HAVE BEEN WAITING FOR THIS EXPLAINER FOREVER.
When taking a loan, you are basically sure that you will make money in the future and give it back to the bank. If everybody takes a loan, it simply means that they are borrowing that money from their future money.
0:34 "Who's lending the world money? Aliens?"
ParanoidConpsiracyTheorist has entered the chat.
I guess they would turn to their antisemitic default first.
@@puschelhornchen9484 Okay, how about the conspiracy nutters settle on "aliens, financed by George Soros"?
@@puschelhornchen9484 found the jew
The correct answer is: no one. The "loans" that banks give, are none-existing money created out of thin air. It is a piece of paper (or a number in a mail) and nothing else. And the solution to the worlds debt problem is easy: states simply make a one-time tax on banks equal to the money, they "owe" them. That clears up the whole deal in five seconds.
My advisory fee is 0,00001% of the total sum in question. To be paid at counter One.
not saying it's Aliens but... ... ...
We should work hard together, self reliant, appreciating our own value to be less dependable on ping pong money.
Or developed economies *cough* the EU and USA *cough* should lend more leniently to developing countries. If the US was willing to loan huge amounts of money to Europe after WW2 (and how amazingly that worked); why stop there?
Thanks a lot for the sources!
I really like this kind of content! Thanks
It would be really interesting if you did a video on the concept of Doughnut Economics
For me I think people need to spend less and invest more , you don’t expect to spend 90% , invest 10% and sit to make more wealth. My opinion tho 🤷🏾♂️
You're so correct, justneed to live well below your means.
Crypto has been more lucrative than stock market, I received my first profits last week Easter am regretting because I didn't start early...
I'll like to start bitcoin trading business, from what I see in the internet today. Seems like people are making a lot of money from bitcoin investing now...
Trading bitcoins has kept me going throughout this pandemic lockdown last year , I have made a huge amount of profit from it too.... Glad I took the decision at such critical times
I agree on y'all opinion generally I always look out for it to dump so I can purchase some more truly it has come to stay
Great video!! Thanks for the great info.
This channel deserves much more subscribers
Honestly, talking about public debt without ever mentioning public wealth is a non starter.
Why even talk about sustainable amounts of debt if you ignore the public capital that's sustaining it. It's not very sensible.
It's a pity most governments care more about enriching themselves than actually improving their countries. If politicians were less corrupt, I expect countries with sustainable debt levels would be a whole lot more common than they are right now.
Politicians promise to increase pensions ==> The elderly vote massively for that ==> That leads to borrowing since there are no funds to pay for that.
The story of "democracies" these days.
People always vote for more candy and they don't think or care about where the candy comes from.
Exactly Lelly! The voters would rather blame the politicians, than admit that they aren’t competent enough to vote for a leader!
they will eventually when they think they're rich enough
@@7thLeader Mega-rich people can never be rich enough. The poor dears have it worse than us. There is only a finite number of things in this world and the Mega-rich are competing with one another over who can afford them. So they constantly need to increase their earnings at a faster rate than their mega-rich rivals. You gotta feel sorry for them. Caribbean islands don't buy themselves.
Excellent video. Thanks.
Now this is a great video, I learnt something!
All this Government money is ours, not theirs, they spend like a kid in a sweet shop because of that.
6:12 Various but there is an elephant in the room you missed- Credit ratings agencies like Moody's, S&P, and Fitch decide investment risk and their work is often taken as gospel by private investors (despite questions over their role in the 08-09 GFC and Euro debt crisis). Developing nations aren't favoured by credit ratings agencies so they pretty much have to look to foreign sovereign states and supranationals for investment like the World bank or China. There are even questions as to whether credit ratings agencies and even people like Bono have hurt developing nations by perpetuating the idea that they're an unfriendly environment for investment and trade despite GDP of emerging and developing nations combined growing double the rate of developed and advanced economies for the last 10 years.
You should include more spiraling segments to the videos 😂 that cut near the end was good
Very good explanation
It's educational and they make it fun
I like how they show you how it works
I like how they visualise everything
The decepticons and/or the iron bank is gonna need their money back
More like a gold/platinum bank!
👍🏻 Great! Thanks.
I was beginning to think that no-one would ever ask.
Great explanation, thanks!
The debt is owed to our environment, forests, endangered wildlife and to earth by and large...
I mean I suppose in a metaphorical way but... thats not what this video is about
@@lazergurka-smerlin6561 As a global debt no matter what aspect of reasoning, humans owe it nature and earth in the whole. Economy is just a bubble that humans have created to place themselves one above the other.
Lol hippie moment
cringe af
**dies from cringe**
maybe you can talk about the chinese debt lending in detail.. or you already have a video for it??
Great video!, did not like that loud beep though, made me jump and I spilled me coffee
Great video!!! Thanks
Forget having barely any money. Having zero debt will one day be the sign of success.
I have had zero debt for years, never buy with credit, if I can't pay in full, up front, l don't need it that bad. Haven't had a credit score since filing bankruptcy in 2006. I have no problem living within my means, never been materialistic, which is why people live beyond their means, in a competition with others, instead of the things that actually make them happy. And all that crap you aquire with credit or cash for that matter is never ever really yours because you're always paying a fee or tax to use/have it!
Well sometimes begger has 0 debt does that mean it's ideal no having debt and not able to pay debt is different debt can be use for right purpose is one kind of investment
*Sry if there are any mistakes in grammar
Kind of sad when a video on whom is owed does not answer the question why they are owed it, specifically how that currency is created (from thin air)
We live in a topsy-turvy world where the so-called creditor is actually the one providing the liability instead of the actual asset.
Why it’s owe is to help other countries build buildings so Other countries can borrow money also to blow it up.
lol as if anyone will actually tell you any of that
@@htf5555 yes I guess it would defeat the purpose haha
I've been waiting a long time see one such video
The question you asked before the end, you should do a video on it :D
You guys are doing a great job! However, claiming zero censorship is a bit of a stretch. Allowing your public to choose your topics increases the bias of the topics and in extreme cases will nudge you away from certain topics that are not profitable.
Keep up the good work though!
Yes
That's not censorship tho that's just basic economics. They will do what is profitable by choice. Censorship is when the choice is made for them
I am no expert on this but it may be worth pointing out that the cost of borrowing money is different in different countries and specifically it depends on how the country borrows money. If Japan issues government bonds, which they do, at a 10 year yields of 0.1 %, even if they have borrowed much money, their interest rate cost is not so high relatively speaking to the dept. They still of course have to pay back, but when that day comes, they can still issue new bonds to pay them. In fact the 5 year yield on japanese bonds is -0.09 %, which seems to indicate that the Japanese government for those bonds get more money than they have to pay back in 5 years. It is of course different for countries like Argentina which have much higher interest rate, they would struggle more to pay back cause they have a high interest rate on their bonds.
The beep at 9:40 scared the living shit out of me
great video :) thanks
"Bring back the gold standard!"
👆This
or just use crypto!
The gold standard was flawed too as it caused cyclical growth and recessions. Countries that swapped to fractional reserve banking could have continual growth so countries economy/technology will end up being decades in front of gold standard nations. A recession and depression is devastating to the economy as it is alot harder to create business and jobs than it is to lose them. If the countries swaps to bitcoin standard ( a limited asset) then they will experience the same problems as the gold standard.
No unless you own a goldmine
That’s a question I’ve always asked myself; who owns the $270,000,000,000,000 that every government in the world borrows from and in which bank do they keep it?
a lot of governments borrow from their own national banks , japan especially does this a lot
The Swiss! All money leads to the Alps! China is just trying to muscle in.
And by national banks it means a private corporation with faceless ownership due to the concept of circular property.
you are amazing my guy
Nice channel 👍📈
It would be interesting to see how much nations owed if everyone paid everyone. For example Japan has huge debt but they're also a huge holder of foreign debt.
Or if nations that owed money to each other decided to forgive the mutual debt (for instance, if Country A owed Country B $100B and B owed A $200B, they’d each forgive $100B of the other’s debt toward them, leaving B owing A $100B)
@@MrCubFan415 It would be interesting to see the numbers for sure but don't think that would ever happen in reality as the maturities and yields would differ.
The global debt is counted wrong. It should be how much a country owes minus the total of other countries owe to it. Then sum the total of all countries. As it is now, if I lend to person A 20$ for 3 years and he lends me back 20$ for 4 years. Then the total debt is 40$.
Eventually it has happened! All money is IOUs , it’s still useable, always has been , just a promise. ,!
Money isn’t worth anything , that is to say , we all work for nothing. All our life for a constantly moving value of a promise, usually devaluing it constantly. Some have the Gold or and variable, nominally rated high value in $S. So we , most of us have nothing but day to day sustainable wealth, not to keep for long, we eat, and borrow to get a few extras essential to keep the wheels going round. The over wealthy, rule us, so , we are slaves to the wealthy. Politics is just to please us thinking we have a say. Politicians, in the business of managing for the wealthy.
The major thing I learned here was that Cape Verde is a country. I had to look out up.
It's off the west coast of Africa, btw.
I miss the days when politicians argued that deficits didn't matter as long as it was less than the inflation rate.
This is a really bad video. First off, Japan's debt is mostly held by Japanese citizens and banks. So the assertion that Japan is in trouble because it owes too much is simply not true.
Second off, the United States is the largest debtor to China. This is because they import a massive amount from them. This shows the interdependent nature of debt. If the USA defaults, China is holding a lot of bad debt that it can't do anything with.
You are also ignoring the geopolitical aspects of sovereign debt. If the USA decides to not pay, there is absolutely no one that can make them on account of them having the biggest army.
US debt is denominated in US$. Since they issue their own currency, they can always pay back their debts.
Dept does not have to do with imports i know that for sure so what are you talking about 😂😂
I liked how you mentioned The Philippines as a growing country
Really enjoyed and learnt something from this one.
Shouldn't it be '& to whom' not '& to who'?
Technically, yes. Modern English often doesn't care, though.
On a certain level, I accept that language changes over time, but also: God damn it, there’s a way it’s meant to be, and you lot across the pod invented English; I want to be able to go to bed at night knowing at least you guys are still doing it properly over there
@@mihaicristian some of your examples do sound fine but the incorrect use of 'was' just sounds dreadful.
@@mihaicristian It's been corrected!!
The more I hear about how the monetary system works the more I think we need to find another way!
The more I think of my tax responsibility, the more I wish money was never invented lol
Bitcoin?
quality content as usual
Borrowing more money also increases inflation and decreases the value of money, just a slower rate than outright printing it.
The aliens be like :i want my money back
It's a very old debt going back centuries. The original paperwork was carved in stone and goes on at length about zorg/gronk exchange rates.
@@Mr_101 yeah, probably. I hope whoever we owed it to died since then, but y'know, space aliens and their advanced technologies.
You have missed a very important concept: the State needs to roll over its debt. Whatever the level of dent-to-GDP is, if it cannot roll over its debt, it can end up making a default.
The risk of failing to roll over such debt is pretty low though. Countries want to sustain growth and therefore will borrow at just about whatever interest they can. Debt buyers generally reinvest they're interest and are glad for the predictable nature of bonds so they keep sustaining the system.
Edit- it definitely does extend the tend of concentrating wealth though which is worrisome for different reasons
@@vikmanphotography7984 exactly
And this is why a default is rarely happening. If you can roll over your debt up to infinite,there is no reason you shouldn't be able to pay interests, regardless of your level of debt. That's why Japan is far from a default despite its enormous level of debt
Debt is what creates money. What one has loaned someone else isn't necessarily debt that has to be paid back, but rather as an investment...
A guy explained this to me in a bus when I was in middle. And suddenly now I got this is in my recommendation reminding me of that.
The value is owed to the citizens. When the governments -borrow- print more currency, this instantly devalues everything you own. Inflation isn't prices rising, it's the purchasing power of the currency falling. If all the currency printed since 1973 were destroyed, prices would quickly drop to where they were that year.
China is not only the world's biggest creditor, it's also the most malicious one, happily lending developing countries money they expect can't pay back and then taking over the built infrastructure when they really can't. That's what happened to Sri Lanka 2017, for example, when it was forced to hand over a port to China - basically creating a new Chinese naval base on Sri Lanka territory.
Officially, the Hambantota port is on a 99 year lease, but if the CCP is still around by then, good luck getting it back.
Many countries wish your country can help, but
@@dasgupta9288 yeah, good luck trying to get our politicians to do anything. -.-
@@SwissSareth if your politicians are easy to be bribed at the cost of your country, then the problem really lies in your own country, not in other countries
@@dasgupta9288 it's not that. It's the "ah well, it's just Asia, that stuff is half a world away, why should we care" kind of attitude that's the problem.
Nice video
this BEEP shocked me as hell. thanks for that i guess
Greece awkwardly sits in corner
lmao
I do not own a cent to any person or bank and I have the feeling I'm missing out to live a normal life.
The bank owes me, fortunately, it's not very much, otherwise, I would be worried.
@Hakim Habib yes, it is a dairty thing that you should throw, I will help you doing that, just buy gift cards with all your money and send me the codes
I will dispose it the correct way
For every debtor, there is a debtee
“… sorry I’m spiraling 🌀 again 👽 “… 🤦🏾🤦🏾😂😂😂😂😂😂… I absolutely loved it
Take a predefined portion of the profits instead of interest. That will be more helpful to the debtor. Interest just makes the borrower more poorer in the long run and in turn oppress the people and increase poverty.
"Who the f#@&k do we owe this much money, the Decepticons?" - some random comment from a similar debt video.
7:40
Venezuela - hey I have seen this one
Good video. I subscribed :)
A more sinister act is for the creditors to demand allegiance from the debtor or else. While this is hard to pull off if the creditors are individuals or companies but with governments as creditors... like China. Guess where their WHO and UN supporters are?
the west have always used this tactic in the UN through loans and western companies and sanctions etc,why are you singling out china?
@@beburs China bad. China red on map.
Seems to me china are beating the west at their own game.
@@williamdickerson8898 trying
What if the lender ( china ) increases interest rates after their debtor declares sovereign default the first time, then the debtor borrows again under the now increased interest ratr borrowing terms and declares sovereign default a second time?
well, people in general are not going to be inclined to buy bonds even if they cost 1 hundreth of their returne value
so, you are getting less money every time because people are buying less bonds giving you less money each time
in the end, you cannot borrow any more money and the first natural disaster will put you onto your knees
to be more precise, it's not china who raises the interest, it's the defaulting state that does because if they don't nobody is going to buy their bonds
they are literally making their own bonds cheaper so to sell them
Found a good one here
One other option is increasing taxes but that might create more problems then solving any
Ever since countries left the gold standard money is just simply worth what we believe it is. Just like how 1 yard or 1 meter is measured it's something we humans collectively agreed upon to make our lives easier. Unlike a measurement of distance however, money is A LOT more complicated and it's worth and value depending on the kind is always changing.
Distance is all locked by set standards. The universal constants length is based on is effectively like a gold standard for science. Your point is still valid, just thought I would chip in.
@@aaronclark4957 standards, which are based on an arbitrary multiple of the universal constant