The National Debt: Last Week Tonight with John Oliver (HBO)

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The national debt has long been portrayed as a burden we’re placing on future generations. John Oliver discusses how national debt works, why people are so concerned about it, and why it might be more helpful that you think.
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  • 27million for George Kirby's family prolly not great spending Woke America! Not a Riot John it's a peaceful protest!

    TY THE TRUTHTY THE TRUTH10 minuuttia sitten
  • I can see how Palin would think debt = slavery, considering she's a Christian and slavery is an acceptable response to someone owing you money, according to the bible. But no good person thinks that.

    aenn aennaenn aenn55 minuuttia sitten
  • 'national debt' was forced on the people after the creation of the 'bank of england' and it has spread like cancer. 'thou shall lend to many nations..' 'rule over many nations' .. thats where your 'national debt' comes from

    Sic Semper Tyrannis VISic Semper Tyrannis VI2 tuntia sitten
  • That dog thought the smoke bomb was a ball haha

    Justin TroupJustin Troup3 tuntia sitten
  • Explaination.....the rich get richer and the money doesnt circulate. Boom! The central banks are also proping up the debt and cant afford to raise intrest rates. Thank god for bitcoin otherwise we would have nothing.

    John DoeJohn Doe4 tuntia sitten
  • Wow.. Really missed a good opportunity here to educate people. Instead used it for propaganda to sell the current administration's agenda (not saying that agenda is good or bad)

    mslindqumslindqu4 tuntia sitten
  • Government Debt to GDP ratio is a better measurement. In Canada between 1995-2008 government debt decreased from 83% to 44%. Because of COVID relief programs debt has increased to 50% of GDP. About 25% of the debt is owned by people outside of Canada. United States will have about 110% and Japan will be 170%.

    99beta99beta5 tuntia sitten
  • Basic message here is to ignore debt, it does not matter....very much like Trudeau saying it will fix itself. This is basically a radical left wing diatribe to justify continued uncontrolled spending and money printing.

    Peter CampbellPeter Campbell6 tuntia sitten
  • hi john oliver. I really enjoyed the debt episode. and i understood all the angels you took. from a western point who dont think twice on how they secure accommodation its a no brainer, you hit it bulls eye. i been living in western countries for most of my life but have NO or both liberal and or conservative bones in me since I am a Muslim. It doesnt matter who holds the debt, china, japan, liberals or conservatives, they share one commonality which forms a stronger bond for them than any of these labels, they are rich. rich holding the debt is not good not good for the poor no matter wat citizenship they hold. debt which i can be 100% sure in most cases means interest i.e increasing overtime is the reason for recesions, they form bubbles that burst and guess who they hurt exclusively? the poor. this is not me, some muslim on the interent, this is finincial scholars even though silenced still publish their work on this cancer in face of being cancelled by mr big coorape submissive to mr big bank look at the gamestop scenario, when non rich targeted hedge funds the betting companies went all out to stop legal bets. rich getting richer poor getting poorer. In islam a loan is interest free, profits for all cant exceed 30% and taxes are collected on non used assets monetary or not. if the world did that i assure you there will be no poor to rob. cos thats wat this interest game is. people running out of good spirits and hence ability to work for society, so they use mathmetics to make money. thats not a service, only right way to make money of science and maths is by doing research and or teaching people so it can enhance other services. would love it if you made an episode on interest and how its riuning society from the core. i seen u do some out of it episodes, thinking hes gonna get detsined after this, but will you go the extra mile, will you cut to the heart of the cartel or will those veins/emotions/stakes run too close to cut. do it, i dare you

    Rami Al-JiabRami Al-Jiab6 tuntia sitten
  • Yeah..... modern monetary theory is basically just "yeah all those other countries suffered years of hyperinflation and decades of fallout from just printing money to cover their spending but it probably won't happen to us because america."

    Rigby DevosRigby Devos8 tuntia sitten
  • I've always wondered htf this works!

    Michelle BrowneMichelle Browne9 tuntia sitten
  • just print a bunch of money. then use that money to pay off our debtors. what could go wrong?

    Happy PenguinHappy Penguin9 tuntia sitten
  • Thanks John Oliver for the simplistic definition/explanation of deficit & debt 3:12 👏🏽👏🏽

    Jobestinna BJobestinna B9 tuntia sitten
  • This video will age like milk, just like most of John Oliver's garbage material.

    RLRL10 tuntia sitten
  • I wish John Oliver did a piece on how the Kardashian clan and the insta influencers are trying to set unattainable body images ( unless for a surgery, of course) and feed on teenage girls' insecurity and body issues. Please. I personally do not have body image issues. I am scared for my daughter, if I may have one one day and she falls prey to all that bull shit. I want to have a John Oliver video to show it to my daughter on that topic

    Anju Rama KrishnanAnju Rama Krishnan10 tuntia sitten
  • So just cause republicans do it too is for some reason ok?? Both parties are the same shit, wake up people!!

    rezoxrezox10 tuntia sitten
  • So... basically John is saying: Fk it, we've gotten this far, no reason to change anything, we can just keep chugging along, free money bruh.

    Piyotr BearPiyotr Bear10 tuntia sitten
  • Obfuscated means hidden or obscured, so an obfuscated seam is a thing, but Ophisticated? I guess an attempt was made...

    Penitent HollowPenitent Hollow11 tuntia sitten
  • Can anyone explain how you can possibly print more money without causing inflation?

    Essex BoysEssex Boys12 tuntia sitten
  • What National Debt? I hear the Republicans want to abolish taxes for ALL, not just for the rich. They say they can just PRINT money now.. NO debt. Just print some and pay it off.. LOL!!! Imagine when that haywire economy fails? For good!!!! All it needs for a final coup de grace is for a new international trade currency to be adopted. And THAT is coming really soon to an economic forum near you.. Like the year right after the end of the pandemic.. NOBODY wants to deal with the USA now if they don't REALLY have to. Except China, just because they have such a positive trade balance with the US that it made them RICHER than them in about 20 years.. ALL for 1$ a pop cheap stuff. As SOON as the US wants to try to bring it to a more neutral balance. China will dump them and the new currency will appear and EVERYONE will accept it.. Maybe China will dump all of the treasury bonds they buy to fake shoring up the US too, or ask for quick repayment of HUGE debts... US money is WORTHLESS in reality. Its just based on demand. NOTHING ELSE.. Kill the demand and the house of cards falls on itself. They DID t to themselves. And they have been warned about it by MANY economists and politicians with more vision than some.

    TheJimprezTheJimprez12 tuntia sitten
  • What happened to comedy? This show was torturous to watch. He's an idiot

    Elizabeth JohnsonElizabeth Johnson13 tuntia sitten
  • This is foolishness. Debt-to-GDP ratios have been found to have a substantial correlation with decreased fertility, decreased GDP growth, crowding out of private borrowing, and a host of other negative results for society. Just because both parties are bad with spending doesn't mean that we should all accept higher deficits and larger debts. This focus on what politicians say versus actual fact, evidence, and principle mixes a few cognitive biases - ad hominem, WYSIATS, and others. And just because something is said with a smug attitude doesn't make it true. $97,000 of total government debt for every American isn't fair. Total government spending at 37% of GDP is three times bigger than it was 100 years ago, and over ten times bigger than it was at the start of our nation, that is far too large. There is a reason why Paul Krugman observed "developed" nations grow at a slower rate than developing nations, and a large part of it has to do with this very fact of the ballooning size of government. Our country hasn't grown over 5% annually in over 20 years, this year might be the first in 20 due to the regression to the mean effect, but I expect inflation to take place, and that this will continue the decline of economic growth. Our country needs a movement back towards private action and private economics or we will find ourselves in a similar position to the former Roman Republic.

    VeracietyVeraciety14 tuntia sitten
  • And OBTW, that last bit at the end with the kids, truly GOLD. Go John!

    Corvette StingrayCorvette Stingray14 tuntia sitten
  • Thank you for this John Oliver. The reason Greece's financial problem was a crisis is because Greece is a currency user, not a currency issuer like the US Government is. Greece's situation was actually much more akin to what each of the 50 states (at least fiscally) go thru, because they are Currency Users, not Issuers. And the National Debt is not really (for the most part) a "debt" that has to be paid back, at least not in the commonly understood sense. Everyone please read "The Deficit Myth" by economist Stephanie Kelton (who once worked for the US Senate), which explains that deficits are actually good, when handled properly. A truly eye opening book.

    Corvette StingrayCorvette Stingray14 tuntia sitten
  • and to no one's surprise (ef)Lying Ted Cruz is the epitome of duplicity, closely followed by the rest of the party formerly known as republican

    Kid MohairKid Mohair14 tuntia sitten
    • oh yeah far as debt goes, cuz that's ostensibly what this is about, debt is an invention, just like economic crises are, and is used as a cudgel by banks, to scare us... (unfortunately) I can point to what$i$name-the-twice-impeached as living proof of the above statement

      Kid MohairKid Mohair14 tuntia sitten
  • Democrats and Republicans are equally irresponsible when it comes to the deficit.

    Lukas GGLukas GG15 tuntia sitten
    • That is the sad truth

      mjceasermjceaser11 tuntia sitten
  • América se fodeu

    Tamires MolinTamires Molin15 tuntia sitten
  • I walked past that debt clock every day on my way to work on Madison and 42nd.

    A EA E15 tuntia sitten
  • Hold up. Accorsing to repubs - When the debt goes up because of spending on infrastructure = bad. But when the debt payments goes down because of tax cuts to big corp = good? On one side, Borrowing for litetal jobs creation = bad. While, Paying more interest for no jobs and no taxes revenue = good. Gotcha repubs.

    themightykaboolthemightykabool16 tuntia sitten
  • What a joke. We know exactly why rates keep dropping. We've been in a deflationary cycle since the 80's and central banks (the FED) have continued to drop overnight funding rates and suppress long term rate by buying massive amounts of treasuries. This process can't continue forever, although there is some debate about that considering Europe's rates have gone negative. Since 2008 the FED funds rate has spent the majority of that time pegged near zero. If this deflationary cycle comes to an end and we start to see inflation the FED will be required to raise rates, THEN the debt will become a major problem.

    Daniel BienlienDaniel Bienlien16 tuntia sitten
  • So basically every single person in the country is $70,000 in debt.

    Jesse CollinJesse Collin16 tuntia sitten
  • I sure do like this show.

    denea smithdenea smith17 tuntia sitten
  • Price of goods has gone up double digits yet the Fed says no inflation.

    Donald MillerDonald Miller17 tuntia sitten
  • Biden is beholden to China. BLM is a violent marxist terrorist group. ANTIFA is a violent anarchist terrorist group. Sovereignty is being lost with open borders. Federal dollars are pervasive to unemployment. Media and politicians are spreading race hate so we fight each other. Then they claim to be saving us.

    Donald MillerDonald Miller17 tuntia sitten
  • It’s almost like. . .and stay with me here. . .all the republicans care about is gaining political advantage and nothing else

    Skip6235Skip623517 tuntia sitten
  • If you take any this shit seriously... You will remain poor.

    FanASStikFanASStik17 tuntia sitten
  • I give an explanation, supply and demand. There is more supply of money that can be borrowed than the money borrowed, so the interest lowers. The money borrowed is a big number, but the money can be borrowed is infinity, at least those form FED is unlimited. With a few strokes of typing on computer, you can have the money to borrow.

    Sheng LiweiSheng Liwei17 tuntia sitten
  • Very good points. But at some point not taking on more debt needs to happen. But that is no where in sight. Bad times take on more debt, good times take on more debt. And the investments are. It existent. The reason companies buy back stock is because investing in their business capital brings no return because there is no avenue for growth. It is all financial engineering

    Conner PowersConner Powers18 tuntia sitten
  • But most will gladly accept the checks.

    Sheng LiweiSheng Liwei18 tuntia sitten
  • There's so much wrong with this video. Yes, Republicans haven't been any better than Democrats on this issue. But that doesn't mean they're both right, they're both wrong. If you liked this video and have never studied Economics, please read Economics in One Lesson by Henry Hazlitt. If you disagree with some things after that, that's a longer discussion. But you'll make much better arguments.

    Yash AryaYash Arya18 tuntia sitten
  • I'm sorry... but the way the show presents the concept of debt is bordering a dangerous explaination and makes it confusing for people that have little, to none, knowledge of financial or economical concepts. The first thing everyone needs to understand is, the structure and functioning of debt when it comes to the government, works totally differently than how it works for everyone else. You, me, business, local governments, etc. There is no way the Federal Government runs an unbalanced budget EVER; why? simple, they only have to print the money they need and that's it. Now, to give the idea to people that debt is not such a dangerous issue, combined with the fact that how it is presented in the show, combine with what I mentioned before about most people's lack of understanding (that it doesn't work the same for everyone) is irresponsible. Because it encourages this fantasy that there is always time or a way to get off from it even for you as a private citizen, which is what in fact, the essential cause of debt or credit crisis every time that it happens. Also, it is presented Greece as an example that there were no riots in the US despite the current situation and that somehow there is no indicator on why. Ignoring completely the real reasons. Which one? Well, the fact that Greece cannot print their own money as we do. They have to borrow it from the European Central Bank, which holds any funds until the country does whatever they think is proper. And that's what caused the protests. In the USA we don't depend on a central bank to which we have to ask for money and close our fingers until they give us the money. The central bank is basically the government and Congress, which only need to decide they need to print the money and that's it. Also, they only trash politicians from the Republican side without eve mentioning that the Democrats supported the debt and credit expansion from the very beginning of the 2000s, which was the main cause of the crash of '08. ON top of that, the show mentions Reagan as a negative figure from the 80s that tripled the national debt for no reason or because of ignorance. When it fact, the reason why it had to be done, is because the Cold War was in motion, and pushing the financial debt of the country was the best we could do in order to contribute to the collapse of the USSR from the military and economical stand point. There are far many things in the program that are no explained, either because it is not in the interest of the show to mention them or because of general ignorance, but the information, causes, data, etc, are really out there and accessible for everyone to check. If you are really serious about the debt issue, and like me, do not care if the Dems or the Reps will solve the issue, but to really have a solution in place, then please start reading or checking videos where Milton Fredman explains concepts like inflation, debt, etc. It will help you to watch these shows from the right optic and without falling for the fallacy of leaning with or against one politician or party.

    Arian LopezArian Lopez18 tuntia sitten
  • The whole problem of trickle-down economics, rich people don't spend the money they get, if they did, they wouldn't get richer and richer and fucking richer. Study after study has shown that giving money to poorer people results in them spending the money, thereby boosting the economy, whereas tax cuts for the rich or subsidizing big companies with massive amounts of money leads only to more money in rich people's bank accounts.

    dieyngdieyng18 tuntia sitten
  • In teory the gouverment must debt somewhere , so who gives that borrow ?? , cause you can't pay yourself an own debt if you don't take from somewhere money , if you produce money to borrow yourself that's inflation . If no one gets payed back why would he borrow the state ? That's a true lie of hiding the real problem of U.S.A . Where the goverment takes money as borrow from ? Who own the U.S.A debt ?

    nia Romania Roma19 tuntia sitten
  • All countries had this decrease, it's not related to american debt.

    fredvultorfredvultor19 tuntia sitten
  • Republicans: "We need to balance the budget and reduce our national debt!" Also Republicans: "Let's sign a $686.1 billion dollar defense budget bill, more than the next 10 countries combined."

    AllagíAllagí19 tuntia sitten
  • I totally remember that commercial with the baby being told it owes $50k LOL

    Slakjaw NotsayinSlakjaw Notsayin21 tunti sitten
  • Debt sucks. Just a little more than John Oliver's dumb opinions.

    renraggedrenragged22 tuntia sitten
  • That last line "Grow the f**k up!" I so LOVE it, LOL!! CHEERS!

    Tony BensleyTony Bensley22 tuntia sitten
  • Gosh American politics has so mucb hatred. Why can't they both want to help everyone at a basic level...

    Dylan NDylan N22 tuntia sitten
  • "Start something he doesn't finish" 🤣

    RowanRowan22 tuntia sitten
  • John Oliver, the interest rate on our debt kept decreasing because the Federal Reserve is buying majority of debt issued by the Treasury. Where does the Fed gets its money to buy all this debt? Simple, they print out money out of thin air. If the Fed stopped buying US debt, then the interest on our debt would increase.

    Esei TeclemariamEsei Teclemariam22 tuntia sitten
  • If you don't think debt is modern day slavery you are an idiot! Our current debt system is literally designed to maintain us slaves to our masters (employers). An indebted employee doesn't have options, and must obey.

    Julio SaraviaJulio Saravia23 tuntia sitten
    • Wages are slavery

      A OConnorA OConnor18 tuntia sitten
  • The republicans are masters of spin and they killed and buried the word and meaning of hypocricy a long time ago.

    Freedom FirstFreedom First23 tuntia sitten
  • This was nothing but the most insidiious, wiicked propagandda imaginable ... and the low-informatiion public will eat it up :(

    Ralph WiggamRalph Wiggam23 tuntia sitten
  • god forbid you use it to improve education, if those kids could count...

    T5 5T5 523 tuntia sitten
    • @A OConnor Lol what a dullard. You can't spell things correctly here. There is no freee-speechh on this site. You have to spell things incorrectly ON PURPOSE to avoid the algorythmns auto-deleting your comments lol :P Where have you been? Under a rockk lol? :)

      Ralph WiggamRalph Wiggam17 tuntia sitten
    • @Ralph Wiggam not going to even begin to listen to someone with as atrocious spelling as you.

      A OConnorA OConnor18 tuntia sitten
    • @Max the % of GDP spent doesn't matter. Japan spends 3,2 % of its gdp on education, yet its ranked 15th (above the US). Swaziland spends 7,1 % of GDP on education and its ranked below the us.

      DewaldtDewaldt19 tuntia sitten
    • @Ralph Wiggam completely untrue US spends the most because it’s the biggest economy with the most students however it only spends 5% of it’s GDP on education which is 66th out of all countries

      MaxMax20 tuntia sitten
    • @Dewaldt completely untrue US spends the most because it’s the biggest economy with the most students however it only spends 5% of it’s GDP on education which is 66th out of all countries

      MaxMax20 tuntia sitten
  • MILLIONS of dollars to FOREIGN "ghender programs" very much IS "throwing away money" you LYYING FRAWD!!!

    Ralph WiggamRalph WiggamPäivä sitten

      A OConnorA OConnor18 tuntia sitten
  • Republicans complaining about the debt will never not be cringeworthy. Motherf*ckers, most of this is on you!

    MasterPoppersMasterPoppersPäivä sitten
    • @MasterPoppers Lies. Big corporations wanted jo in because they knew he would disproportionately help them more than the eviil orhange mhan ... wake up.

      Ralph WiggamRalph Wiggam21 tunti sitten
    • @Ralph Wiggam This has zero to do with what I said.

      MasterPoppersMasterPoppers23 tuntia sitten
    • Jo got FIVE TIMES more donatiions from Wall Street and big business than the eviil orange mhan ... why do you think that is lol? :)

      Ralph WiggamRalph WiggamPäivä sitten
  • At this point, propaganda like this is making me so much money that my greed makes me want to agree with the this foolishness. But I do feel so bad for those younger than me, as this will crash and they won't have gotten to ride the wave up.

    Creating CreationsCreating CreationsPäivä sitten
  • Endless wars=more debt

    Sticky GriddleSticky GriddlePäivä sitten
    • That and entitlement spending.

      DewaldtDewaldt22 tuntia sitten
    • "America is back" ...

      Ralph WiggamRalph WiggamPäivä sitten
  • increase taxes = rich people leaving the country. If that is true, please show them the door. If they want to participate in the world's biggest economy they should pay house fees. If they don't want to pay house fees then they should not participate.

    Mark PlainMark PlainPäivä sitten
    • You do if the rich leave, the us stops being the biggest economy.

      DewaldtDewaldt22 tuntia sitten
    • Liies. Big corporatiions and the riich will NEVER pay more taxes. The Middle Class will have to bare the brunt of the tax burden ... this is ALL by design :(

      Ralph WiggamRalph WiggamPäivä sitten
  • According to the urn, John Oliver died on the 20th of March, 2021. This episode lauched on the 5th of April. We've had one a week since then. Yeah, they might have put some in the can, but it's a current events show. So who is the guy now pretending to be John Oliver?????

    Cliff NickersonCliff NickersonPäivä sitten
  • I wasnt really sure how much 28 trillion dollars was until he said a fuck ton of money. Oh shit murica is fucked

    Brent SeniorBrent SeniorPäivä sitten
  • I would care a lot more about (R) opinions if they didn’t ONLY care about the National Debt when there’s a (D) in the White House

    trevorj79trevorj79Päivä sitten
  • They can just take some more money from poor countries and pay it off

    Jordan ReidJordan ReidPäivä sitten
  • Non-economist here, but gonna take a stab at that rising debt vs lower interest correlation. Two Big reasons: 1. As mentioned, lack of capital intensive alternatives. 2. Investor confidence, in the ability of a country to repay their debt, uses the US as a benchmark. This means the US borrowing rate will always be cheaper than Greece. The feedback loop of a rising interest rate and what that can do to the household-debt-to-income(HD2I) had a "stress test" in 2008 which didn't end well. The fallout of that has been an ultra-low interest environment until the HD2I is better balanced. Funny thing is... People are smart and know that it's okay to borrow against their home when interest rates are this low. So until 1 of these 2 things breaks (capital intensive excursions like a space-race in mining asteroids/colonizing Mars, or the greenback is no longer a benchmark).... then this is the new normal. Low interest debts are okay, and if your return on investment can outpace your debt servicing costs....then accumulating that debt is encouraged.

    JordanFromCanJordanFromCanPäivä sitten
  • You keep you videos blocked in other country and we'll keep not watching them. By the time Canada can watch them, the news is outdated.

    Marc-André BelleauMarc-André BelleauPäivä sitten
  • You should see the Canadian budget. If it were even possible it is even more reckless.

    FanASStikFanASStikPäivä sitten
  • Scary number lol

    Riley MaierRiley MaierPäivä sitten
  • The last part is my favorite thing on FIboth

    Deea ClondaDeea ClondaPäivä sitten
  • I love you John Oliver. Your videos are so important. This one won't age well. It felt like you took a math problem and made it a partisan issue.

    gardnerbickfordgardnerbickfordPäivä sitten
  • Why are treasuries viewed as the safest investment despite the debt being such a problem? Doesn’t add up.

    Scotty Don’tScotty Don’tPäivä sitten
    • This whole point of this video was about how debt isn't such a big problem. So by it's logic it does add up...

      MythycMythycPäivä sitten
  • actually taking money to build a factory is cringe and disgusting capitalism that forces slaves to do all the work. working period is just stupid and cringe. all work is slavery. we must abolish work, only then will socialism truly rise.

    Dolly WoofwooferDolly WoofwooferPäivä sitten
  • The main problem with the national debt is not the size of it but the fact that it's such a poor return on capital. It's not a matter of "building a factory" that produces goods or services....that's probably a good use of capital, however 90% of the money spent is not spent like that.

    shoey977shoey977Päivä sitten
  • What people don’t understand is that that will go up

    Shawn AShawn APäivä sitten
  • Jesus fuck America, there are people in your country competing for "The wealthiest men alive" and "grossly overpaid CEOs". That's where the money has all gone, take it from them.

    VillainousMuseVillainousMusePäivä sitten
  • It’s funny how now that it’s Democrat’s wanting to spend money that it’s being presented as a good thing, and yet Trump was excoriated on this program for the exact same thing

    Skylar MilesSkylar MilesPäivä sitten
  • Social programs increasing the debt is not a sign of them working, it’s a sign we can’t pay for them. It’s simply politicians with an unlimited credit card giving out stuff in exchange for votes now with no regard for the future people who have to pay the bill. I’m not saying we don’t need Medicare, but the current payment plan is not working.

    Skylar MilesSkylar MilesPäivä sitten
  • I'd like to sue the politicians that have taken years off my life with that fear mongering crap.

    Code ExodusCode ExodusPäivä sitten
  • I wonder who feeds this guy his views

    Alex BohrAlex BohrPäivä sitten
  • This video provides a somewhat accurate overall but is missing many valuable details that allow people to have a much more informed opinion. But hey, it's a comedy news show intended more to introduce topics than fully explain them. There are many excellent economics channels on FIboth that people should follow up with. Maybe start with the channel Economics Explained as an entertaining intro. One thing I do wish he had highlighted a bit better is that with interest rates at such historic lows, if they went up by only a couple of percentage points it would have a massive impact on the nations ability to service the debt. Probably beyond the scope of the video, but it's also important to note that the US is definitely far less impacted by debt than other countries due to the US dollar's status as the world's reserve currency and the fact that US citizens/companies own a large percentage of the world's assets. A country like Greece, which doesn't even control it's own currency (the Euro) is in a completely different situation regardless of relative debt levels. Also, it is kind of incorrect to say that economists don't know why interest rates have trended lower (and have been for hundreds of years BTW). It's more that there is no consensus on which factors had the greatest impact and even more that they don't know where things will end up. Rates have been at around 0% for a while now and a small number of countries have had negative interest rates for years.

    Graham XGraham XPäivä sitten
  • So nobody knows why intrest rates are so low? Really? Excuse me but don't Central Banks have things such as Intrest Rate Goals and Quanative Easing? It's almost like Central banks are buing government bonds from private investors to make government bonds a risk-free investment.

    Jankon BetoniJankon BetoniPäivä sitten
  • boy he's going to look real stupid when people in 2023 look back at this video. More so than usual.

    The Church of FlarisuThe Church of FlarisuPäivä sitten
  • This dude is so liberal, he's become self aware of his ridiculous takes.

    Mike LandryMike LandryPäivä sitten
  • Sadly the majority of this video is jokes and not knowledge. The debt is one thing, inflation is another. There were riots in Greece because once they couldn't get any foreign investment and they instead had to tax the hell out of their own citizens in order to get money. Stop listening to actors. They literally get payed to say things that other people write, the fact that you sheep buy into people like this is crazy.

    First NameFirst NamePäivä sitten
  • 14:40 dog just looks happy to be there

    Jesus ImpersonatorJesus ImpersonatorPäivä sitten
  • No Republicans can seriously talk about debt deficit after the tax cut

    Mordicus 420Mordicus 420Päivä sitten
  • Who is the world in debt too?

    Jason PandolfiJason PandolfiPäivä sitten
  • Way to pick the one economist that doesn't know why interest rates are so low. When the economy picks back up, that interest rate will skyrocket, the deficit will go with it, and we won't have pandemic induced deflation to print money against.

    SpeedingOffenceSpeedingOffencePäivä sitten
  • How does LWT find such incredible child actors??

    T NT NPäivä sitten
  • The fucking hypocrisy of the republicans using the idea that we are destroying our children's future by not eliminating the national debt while they completely ignore climate change which is ACTUALLY DOING THAT. Fucking monsters.

    Patrick JonesPatrick JonesPäivä sitten
  • ok so borrowing money is fine... I understand that, but when you "print" 30% of all US Fiat that has ever been made in 1 year than you might have a problem...

    Ryan ERyan EPäivä sitten
  • What we need to keep in mind is that money ISN'T REAL. I know, its probably came out as a very radical idea, but we invented money. It's a pretty good tool, but if I have to choose between people life and the monetary system, I say that the choice is easy. The real problem is that fuckers who have money right now will NEVER accept that we reset the clock. Even if we face inevitable destruction, they think that the reconnaissance of their "really hard work" worth more than the welfare of their fellow human.

    Yanick DesforgesYanick DesforgesPäivä sitten
    • Easy for you to say when it isn't your money. But if I could borrow a few hundred bucks, I promise I'll pay you back.

      Krystal MythKrystal MythPäivä sitten
  • I’ve got a probably stupid question. If China is one of the largest buyers of debt in the world, could all of the countries that borrowed money/is indebted to China just all agree that they don’t have to pay them back?

    Jacob GunterJacob GunterPäivä sitten
  • debt to build the country is good. debt to give tax cuts to the rich is not good. fk the cons

    Inderjit SinghInderjit SinghPäivä sitten
  • If I ever come close to hating someone, just know that Ted Cruz is at the top of my list.

    CoconutCoconutPäivä sitten
  • Lets save money and reduce the military budget. Oh no republicans want to do that? How strange.

    MrG0TH1ERMrG0TH1ERPäivä sitten
  • Wow just wow - this is such a shit video - John your not only wrong your dangerous and spouting MMT. Do yourselfs a favor and ignore this video and watch Ray Dalio explanation of how the monetary system works. Tax cuts for the rich have nothing to do with taking on tons of debt - and the debt we have taken on has supported the fortune 500 and 1% not the tax payers. I can't believe this was allowed to air. Stop asking economist and start asking historians: they'll tell you exactly what happens when societies take on to much debt and collapse.

    ryan withymanryan withymanPäivä sitten
    • @Spitfire I never said don't raise taxes. Yes do it, but it only works to a point - fiscal responsibility is the corner stone of sound economics and cost benefit analysis is what grounds it. I agree in investing in national childcare programs that save long term prison and judicial cost, invest in hospitals, invest in NASA where you get return on patents, paid sick leave, paid maternity, and universal healthcare. But that's not what this video is about. This video is peak delusion of MMT on steroids. Raising taxes and investing in social safety nets that lower long term cost is prudent economics and reduces the debt which key. Again where does he say that I'm this video? And further: debts are both assets and liabilities and when they become liabilities that can't be paid were all fucked! If you have a ton of money you owe and pay low interest on it and the rate goes up and now that debt is worth alot more in interest and way more than tax roll them your fucked. I would have thought your country would be familiar with this concept having dealt with a subprime mortgage crises. Oh wait wait I forgot the billionaires were bailed out and nothing was allowed to collapse - and this guy is arguing more should have been spent what a yuts! Lastly: and I'm going to bold this AN ECONOMY THAT CLAIMS TO HAVE A BULL MARKET DOES NEED QE AND LOW INTEREST RATES. John Oliver saying the economist were wrong is blatant lie - they know full well what's going on.

      ryan withymanryan withymanPäivä sitten
    • Another way to think of this, since you seem to need help, is home equity. When you purchase a good, inflation drives it's value up. So this actually gives incentive to spending as much as you can at any given moment on permanent assets. Infrastructure and investment into your population is such an investment.

      SpitfireSpitfirePäivä sitten
    • Eh, you really think that's the case? Okay, think of this, lets say that the workers are the ones that continue to hold the burden for tax, and corporations evade it and financial services drive inflation through interest on that same working class. Their growth is slower, so the money doesn't go as far. This increases the value of physical assets (which those large corporations are investing in, and dumping money into imaginary systems to also drive growth through the volume of funds dumped into a system instead of merit) and decreasing the purchasing power of it's citizens. Next, read your ending statement again. You outright stated that the top 1% benefits from the debt more than the rest, which could be recouped by... fucking taxes. Fucking wow man, not sure how you think you understand anything.

      SpitfireSpitfirePäivä sitten
  • Mrs Sonia is legit and her method works like magic I keep on earning every single week with her new strategy

    Yusuf AmarYusuf AmarPäivä sitten
    • do you know I have been paid out today

      linda nikelinda nikePäivä sitten
    • Anyone who she handles he's or her trade for I believe is so lucky

      linda nikelinda nikePäivä sitten
    • She's the plug 👆

      linda nikelinda nikePäivä sitten
    • +(44, 7 8, 6 8, 7 1, 0 1 ,5 1)🇬🇧

      linda nikelinda nikePäivä sitten
    • Can I start with $3000

      dave smithdave smithPäivä sitten
  • "...your great-grandchildren" shows a graveyard lmfao

    TheJerbolTheJerbolPäivä sitten
  • Propaganda for MMT. Wow.

    Astrobucks2Astrobucks2Päivä sitten