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Forgive Me as I'm a laymen but basically my understanding is after a recession it would build our middle class back up is that correct
Comment from : JO-DEE C00K

I think many of these economic assumptions fall into the category of ‘conventional wisdom’ While some of these simple assumptions are true, many are not For example, it is very seldom the case that only the best employees survive layoffs Perhaps the most loyal to a manager do, but that’s not quite the same thing
Comment from : Billy Boy

With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy How can I grow my portfolio to outpace inflation and maintain a successful long-term strategy? I have been reading of investors making about $250k profit in this current crashing market, and I need ideas on how to achieve similar profits
Comment from : Code Blue

Your wrong, the Government can be the primary supplier of goods and services It just has to nationalise, that's all
Comment from : Jamal Ahmed

The point early on about deflation is kind of irrelevant If nominal wages stagnate or fall but real wages are rising then that's a net benefit
Comment from : blackhawk8261

5:16 what about all these pigeons?brbrbrbrLol jk
Comment from : Brian T

"No one saves for things anymore, we just get a loan" I don't know if this is a swede thing, but this sentence gave me anxiety
Comment from : Martin Hansson

I argue (for those that think this hurts the middle class) that it actually does good Example being that housing prices drop, rising interest rates help those that have savings, (not millions, let’s just say 30 or 40k) and basically will drive most prices down making things more affordable… If you don’t have cash… we’ll things are a bit more sticky as your going to pay more to borrow of course, but at the same time it will prompt more people to save, which is a good thing… either way we need it And yeah the rich won’t feel it much, but I’m not rich so I’m just gonna deal with it my way and not worry about that
Comment from : nathan fisher

If we really wanted to solve economic hardship, we would figure out a way to have reduced home & transportation costs brbrThe more money that gets tied up into these basic necessities for having a job, the less extra capital to grow other aspects of the economybrbrI am not sure how you can approach lowering home costs, increasing supply would allow investors (people with high levels of capital) to buy multiple homes, and increase revenue by raising rents
Comment from : Mason R

POV The Recession has been made official by the US government ans you are looking up what exactly that means
Comment from : SirCarrot

1:15 that spike
Comment from : Raymond Goldman Seger

A recession was due anyway, but Covid made it worse for people to sustain themselves while in a recession
Comment from : L Alexander

your prof was 100 correct Spot on analogy
Comment from : Adam Miller

EE: You can’t build an economy around the production of weapons & war machinesbrEEUU: b**laughs**/b
Comment from : D Pearce SSC

Statist
Comment from : Space Worm

Sounds like inflation taxes the rich and is preferable for poorer folkbrbrHear me outbrbrIf stimulus isn’t injected and the economy crashes on its own, then businesses need to lay off staff The poor are the most affected in this type of crisis where they literally cannot afford to buy food (even if it’s not inflated) The rich however, can still afford whatever they want The middle class just need to tighten up a littlebrbrIn the inflationary scenario with stimulus checks, the effect is more broad Everyone’s wallet is hit equally as a of lost value Sure the poor worker will find it harder to buy food at higher prices, but they will not struggle as much as if they were to have lost their jobs The rich are more affected overall since a of their wealth is being lost to inflation Sure they can still afford to eat, but the losses in this scenario are socialised across everyone, rather than hitting the poor the hardest
Comment from : Roger Zhang

Capitalism is Good
Comment from : Ankan Senapati

So basically you're explaining how the rich get richer and the poor get poorer, got it Thanks
Comment from : muuaji mpumbavu

Residental Real estate isn't a 'productive' property It's an economic endpoint, a place where things that are produced go and stop being valuable Residential real estate creates a designated physical space that creates potential capacity for product consumption Obviously, they need residents capable of paying for them, but they aren't going to live at work Consumers who live in shacks and shantytowns are not major economic drivers The better the residential space, the higher forms of economic consumption it requires An apartment building may only 'consume' the bare minimum, but a single family home will buy those same items, in addition to lawn care services or equipment, more child care and entertainment products, and higher grade electronics for example
Comment from : Zourin

Just like taxes, you can raise taxes to pay for extra things but when you add inflation and then tax, eventually you'll tax yourself into larger problems and you can't tax yourself out of bad policy
Comment from : Lawrence Osborne Jr

The global economy is drunk off of unrealistic profits and they go crazy if they get 29 margins instead of 30 and even with billions in profits they'll pay people off and that's crazy
Comment from : Lawrence Osborne Jr

The workforce hasn’t seen a penny of the massive gains the corporations enjoyed Instead, they became more disposable, inflation taxes more of their dead in the water wages, and the government does nothing to help them, but does everything to save large corporations The American dream is climbing on the back of your employees in the mud to your castle in the sky
Comment from : Brandon Burnham

Conspicuous absence of even a shred of class consciousness
Comment from : Hovant

If only we could enjoy the steady growth the boomers oh so enjoyed after WW II, brinstead of constant devastating crashes and staggering rises, which just allows the rich capitalize on absolute misery
Comment from : Kendov

You did indeed sound like you said "poor workers don't deserve to live" Good job
Comment from : Ainrev White

thank you, finally
Comment from : Françisco Cabrera

It seems like our economy is like a child with a stomach ache and has the feeling it is going to throw up But throwing up is very unpleasant and nobody really likes to do it, so you hold it in as long as you can but all this is doing is making you feel worse Sometimes you just gotta let yourself throw up, it’ll be unpleasant at the time but you almost always feel better afterwards
Comment from : Steve

in todays credit-based economies, anyone who can save up or hold onto capital can ride these waves comfortably you are in control, you transform money you saved (that paid you interest) into assets you can spend anytime and it gives you security Loans and credit instead drain a portion of your wealth to your credit-giverbrCredit makes Sense if you transform it into assets that make you money, or allow you to get an unachievable asset (like a house) at the cost of lowering your living standard Most people dont seem to understand that responsible Credit = living a little poorer to pay them off
Comment from : SteveAkaGoatpile

scammers uses fake profit I was scammed over $40000 I reported to the police but nothing was done but just recently to got helped by ( Scammers _Trackers) they helped me got my money back by can help you too when you file a case
Comment from : Serena chase

There's gonna be a tipping point in the US eventually, there's no way that the US government will be able to keep the pot from overboiling any longer I would not be surprised to see riots start to form in next few years, maybe sooner Especially with the increasing political turmoil and divide People are desperate, and desperate people will do anything for stability Problem is a some of the problems like inflation are getting increasingly harder to control
Comment from : Saint Corinthian

Duck off dude No one needs a recession except rich people looking to carpet bag the whole country
Comment from : Jeremiah Smith

that is assuming that capitalism isn't the problem to begin with?
Comment from : adam

STOP SAYING "GLOBAL PANDEMIC" FFS!!! IF IT'S A PANDEMIC, IT'S GLOBAL BY DEFINITION!!! br🖕🏻😡
Comment from : Shanty Clips

where i live there is a huge labor shortage ive been offered like 6 jobs in the last month Everyone blames it on pandemic hand outs keeping people at home, but i think that the businesses in our area are doing really well ergo the need for workers alot of people dont want to talk also about the local prejudice against workers of other nationalities there are alot of people who are moving here from out of country but alot of them wont make it past the front door or businesses
Comment from : T Money

Of course we "need to have recesion" who cares of the human lifes that might die of hunger right?
Comment from : Chris P

Incredible how This video demonstrates how stupid we are as humans, and how governments and greed are our problem, and how crazy we are to chose inflation over deflation, because we LOVE having a stick in our back
Comment from : Majd Al Hyder

If Covid has shown me anything, its that small business is always just going to get buttfucked by corporations brThe sheer amount of loss suffered in Sydney alone is staggering Thats before there was a recession brWhatever happens now will only benefit the rich and the lucky few who choose the right stocks at the lows
Comment from : quizr

Next time a recession hits, I want the government to bail out workers, pensioners poor and unemployed people instead of the big banks and corporations
Comment from : Agent Smith

recessions are a transfer of wealth from the "have a little" to the "have a lot" This should have been brought up in this video, especially considering the benefits touted
Comment from : Barney Clarke

Recessions for the benefits of productivity A lot of economists focus on the need to increase productivity and wealth generation, but I wish the capital system could factor in the human side better A slight decrease in productivity for higher wages, higher quality of life, and work choice for workers is obviously worth it if you think like an actual person and not a number optimizer Businesses keep employees barely happy enough so that it doesn't drastically lower productivity, they rarely do more than the bare minimum that is required to not effect them
Comment from : Mark Johnson

@1:50 So much false claims by economists Prices aren't found by supply and demand at all
Comment from : Fies Bert

I need this in my life
Comment from : TriHard Begrr begs 4 ur bitcoin

Shock horror, capitalist doesn’t care about people
Comment from : hayden Lawless

Not in the US with its "socialism for the rich" that's for sure; many of the largest companies in the US exist mainly for fullfilling government contracts, competition is non-existent and it is more about politics, plus of course the government bailouts to these companies Centralization of the economy under government-backed megacorporations in the US means no benefits of a recession
Comment from : Gabriel Rz

12:37 unless you have a browser extension that allows you to view dislikes
Comment from : TG_

How about we get some diplomats to settle the Ukraine issue - and a government that will get out of the way of OIL Build a refinery or two Gas at $2 will bring down pricesbrThe money printing did not trickle down to the lower and middle class They have no extra money
Comment from : James Mark-Woody-Woodward II

This is why we can't give large businesses bailouts They needed the bailout due to poor business practices We should let them collapse, redistribute the wealth and supplies, and let more companies rise to replace it
Comment from : Pollyphemeus

Gotta love everyone turning into college doctorates in the comments of these videos
Comment from : Salmon Ella

Really like how this man explains things
Comment from : David Evans

I would be more interested in hearing an economic case for what's needed to achieve a higher standard of living for low and middle income individuals History is fairly clear that the political and social stability of nations are at their highest when standards of living are at their highest for the largest possible bulk of a population The US has been moving in the wrong direction by this measure for decades now and much of the present day domestic turmoil is ultimately explainable by this underlying factor brbrIt's not complicated Financial stress is linked to hurt rates of criminality, mental illness, shorter average life spans, urban blight, broken homes and many other social ills brbrI don't see a "necessary recession" improving this terrible situation whatsoever The last recession kick started this current period of social turmoil into actionbrbrEconomists can be too narrowly focused on the math sometimes Talk to historians and other social scientists more A revolution in the discipline of economics is overdue
Comment from : EMS 76

Atleast in America the belief of infinite growth is already there among Investors… just look at the market evaluation of Tesla they were worth more than the rest of the car industry at one point
Comment from : Simoxs7

Massive over simplification is abundant in this assessment
Comment from : g mumper

TL;DR if you're beyond poor, this channel considers you as valuable as a broken clock
Comment from : João V M L Silva

Finding something manufactured by the government in your own home is easier than you thinkbrbrTechnicallybrbrDrivers licence, passport
Comment from : Falney

10:30 sure
Comment from : Thomas Zato

do badly-performing workers deserve to live? if so, under what conditions? if not, be more clear about that EE! recession may optimize for efficiency of some corporations that's about it otherwise the primary effect is as an opportunity for wealth hoarders
Comment from : A J Tarnas

this system sucks And those living in glass mansions better get ready for dinner because they are the meal
Comment from : kelton

The recession we need is one where the big companies that are "too big to fail," fail and all the people that got screwed over get the real bailouts so they can create new small businesses Increasing competition and decreasing monopoly Along with better stabilizing the economy and reducing the most suffering long term A decent example of this would be Iceland
Comment from : leion247

Does the current high inflation and low unemployment mean a return of the Phillips Curve?
Comment from : Gordon Longhouse

"The Motor Companies reported"brbrYeah im sure that wasn't exaggerated as an excuse to outsource to cheaper labor SurebrbrThe game is rigged
Comment from : Michael Daley

browsing the comments i'm puzzled by nobody pointing out uncontrolled population growth as the core problem of the approaching existential crisis of mankind Oo
Comment from : Smiguel

This argumentation is shalow and trivial That guy never heard of Nash's equilibrium theory The market equilibrium is not a function of supply x demand This is outdated classical liberalismbrGo back to school, youtuber
Comment from : Sergio P e Albuquerque

A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too This is not financial advise but get buying, cash isn’t king at all in this time!
Comment from : Phil Crowley

Channel should probably be called "Explaining neo-classical dogma "
Comment from : Ben Tolhurst

Oh Australian sick days, may they never change lol
Comment from : Kg

Honestly, one thing that I feel is overlooked, though may or may not be correct coming from my relatively shallow perspective, is that while deflation may not be ideal on a macroeconomic scale, it brings stablility and thus opportunity to the working class, while inflation always benefits the richest and the upper class while directly causing issues for those at the bottoms Same applies with the recession
Comment from : ZYD HAS

Economics is putting a legit spin on a rigged game
Comment from : th3dudeabides1

Thank goodness NZ kept its interest rates highbrWe have a lot more potential to stimulate economic activity when needed
Comment from : Chris Davies

You missed the part where the boom bust cycles are mostly caused by government interventionbrbr2008 was caused by Clinton mandating banks give loans for "affordable housing", also known as sub-prime mortgages
Comment from : Kaiser68

We're not at full employment Next?
Comment from : goldenbulletdriver

“Just suck it up and let us keep farming you for labor”
Comment from : James Smith

The problem with economics as theorized by most economists is that they accept extremely exploitative preconditions that become self-enforcing And let's not forget that despite the fact living standards have improved globally under the global capitalist framework that the price of this may very well include rendering large swaths of our planet uninhabitable
Comment from : zlZenith

I actually respect and agree with everything you said!
Comment from : Alexander Cinca

More money for the rich
Comment from : Keff

Seems over simplistic to say workforce culture was to blame for the Australian auto industry shutdown The relatively small economy, tariffs, tax breaks, and the mining boom all played a part
Comment from : Ken Phillips

I would like to see this model with the gold standard
Comment from : Francis Bell

I don’t remember our president running on the platform that we needed a recession and things were gonna get worse brbrI specifically remember him saying things would be better Guess we got bamboozled brbrLet me guess, it’s someone else’s fault though…
Comment from : El Jeffe

Utterly wrong; reduce company taxes, support small businesses and stop being such a lazy petulant socialist pesant Get off your arses and build a better future
Comment from : Troy Clayton

There is literally nothing that the government does that is better than private initiative Privatisation is the key to a good economy
Comment from : Nick

nothing to worry if you are to big to fail
Comment from : MSP

yeah how about we just tax the rich?
Comment from : Shaun

A bad employee better than no employee usually not
Comment from : Ryan Applegate

Great Video! I run a small business But I don’t understand how when talking about how the government could encourage people to open small businesses, you did NOT mention lowering taxes for the working class, and de regulating industries to make it easier for people Put a working guy’s money in his savings, most working class people have a dream of having enough money to start their own business But when inflation, over regulation by the government, and the Federal Government is trying to INCREASE taxes of struggling people… so THEY can spend OUR own money on whatever THEY think it’s best for… Well, that DECREASES the amount of small business you’ll see starting up, and it DECREASES supply as people cannot afford to continue running their businesses at a loss I blame 85 of this on Biden’s policies, and the rest can be blamed on the Fed
Comment from : Alpha Dynamics

Strange that it's always the "recession we need to have" when a certain political party is in the white house and a 'recession caused by politics' when it's the other political party in the white house
Comment from : a owen

Ideally the unproductive workers would be retrained and fed on government money and they re-enter the workforce at a higher level of productivity when the recession ends There's also the problem of the most economically productive businesses also being the most damaging on its workers this means they can use their personal economic success to float the recession while simultaneously forcing the workers in to poor conditions where they are no longer able to add to the general economy due to zero excess wealthbrbrUnfortunately both of these things are addressable by the government alone, so unfortunately will not change as they are not socially part of the working class
Comment from : Guy Mahoney

Why aren't stagnate wages not talked about? If your working calls isn't paid properly You have no reciprocating economy and "dragons" sitting on their hordes made off the sweat of the workers
Comment from : Chris Cassidy

0:35 so economies are able to go back in time to get worse :v
Comment from : popraw a

In my opinion, all what's happening right now and the past, shows just how we can't have infinite growth Also how we economically really need a major change More like the Federation of Planets is like for the Star Trek shows, is my preference
Comment from : Matt Starbase

With your background in economics, I'd have assume that you'd know that recessions are infact NOT necessary It's like taking a loan You don't have to take the loan But if you take you will have to pay it back later And that's the recession
Comment from : CreativitySubs

yeah, giving people extra money for nothing can be harmful, but you tossed in that comment about $1400 checks, alluded to the US's mid-covid stimulus, and insinuated that it was a bad thing ignoring the fact that for many people - that wasn't extra money, it was all the money they had and $1400 once means fuckall if the economy can be overturned and ruined with the piddly little stimulus the us government tossed out during the pandemic, then it's not an economy that's worth keeping
Comment from : Dave Bennett

Not even Milton Friesman blamed workers for Inflation He said it was only a function of the money supply
Comment from : Alan Smith

This video is so accurate and I have experienced a lot of what you have described over the last few yearsbrThanks
Comment from : Red Wazzies

Tbh I wish there was a recession in Norway where I live at some point To trim the fat so to speak Plus real estate prices are insane right now and everybody is way over leveraged on cheap mortgagesbrbrThe problem is since Norwegians are collectively so indebted, government will do anything to avoid a recession
Comment from : MaxMagnus

Of course this also has to be put in the context of reaching the tipping point of those not paying income tax exceeding the ability of those paying tax to keep them via ‘welfare’
Comment from : Lulabelle Gnostic

"lots of money floating around the economy"brAlmost all of that belongs to a handful of peoplebrIf only we had affordable housing, fuel, cars, and tuition instead of space trip pissing contests, we might get somewhere
Comment from : Avery Reuber

Please cite your sources
Comment from : ProsthoPlus

@economics explained, you make so many assumptions in this video that aren't inherently correct I'm wildly liberal, sure, but I'm also pro-capitalism (regulated) There are some statements you share that need SERIOUS qualifications to be truly correct brbrI get this is an issue I have with most of YouTube not citing sources and just assuming people will believe it, but considering this is where most of political discourse happens now, I'd love for you to provide more sources and context for your occasional claims
Comment from : ProsthoPlus

I feel like you make your videos ALMOST correct so that you can prompt discussion in the comments section You're VERY close at times to coming to conclusions, but you avoid it so that you don't alienate viewer bases Maybe show up and make an actual call once in a while? brbrObserving without using your learnings should be a crime
Comment from : ProsthoPlus