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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  • Torty Ibeneme

    Torty Ibeneme

    6 саат мурун

    The Biden administration should borrow those kids advert as a counter-argument against the republicans that they are ballooning the debt. I'm sure John Oliver will let them have it for a reasonable fee.

  • quan wang

    quan wang

    6 саат мурун

    FYI the map of China you are using is terribly wrong,Mr.Oliver ,it should include Taiwan province.

  • jbjbassen

    jbjbassen

    7 саат мурун

    I have the dire gut feeling that this will age like milk

  • twhiteofrd_110

    twhiteofrd_110

    10 саат мурун

    Interesting take however I think this glosses over the idea of risk. The hard red line is not you instantly go into a financial crisis if it goes over 100% of GDP just that you're in a more risky position if you are there. Just because we risked it this time and got away with it doesn't mean that it will happen every time. Its the same reason why you don't borrow at 2% and invest at 5% because those interest rates don't factor in the risk of those interest rates changing or the lender turning around and calling in their debt. Now some of those premises change on the global scale because you have diplomacy and the government has lot of different jobs to fulfill not just make a profit/survive. As for all the political stuff of course its bs if the experts are saying they don't completely understand what is going on how are you expecting politicians to do that when their only real focus is getting elected.

  • David and Adam play games! Phelps

    David and Adam play games! Phelps

    12 саат мурун

    Stop talking with your hands, British Trump. It's annoying. plus, don't talk shit on E. Musk for making not a flamethrower. Elon has done more to change the world in the last 20 years, simultaneously working on ways to keep it moving, and he continues to do it on a daily basis.

  • Mr Jakesie

    Mr Jakesie

    12 саат мурун

    "Clock, not a clock" 🤣🤣🤣

  • Ben Liu

    Ben Liu

    13 саат мурун

    LOL.. US and debt? US carries no debt. They can print off more money and pass on the inflation to every other currency in the world that hooks off the USD. This is why the credit card is being paid off by other countries while America just buys and debts more and more.

    • seigeengine

      seigeengine

      2 саат мурун

      Complete nonsense.

  • James Flynn

    James Flynn

    13 саат мурун

    I'd laugh if sime big bruiser type just came to collect the debts and repossessed the Midwest

  • Nigel Nofrenze

    Nigel Nofrenze

    13 саат мурун

    I wondered how long it would take for this to become a “fuck Republicans” video...so predictable

    • seigeengine

      seigeengine

      2 саат мурун

      The Republican party has fallen to the point they can be summed up as the nazi party. They have no merits remaining. Anyone who sides with them at this point is a traitor.

  • Alex Zimmermann

    Alex Zimmermann

    16 саат мурун

    Anyone who thinks, this is not going to come to haunt America, is fooling themselves.
    Interest payments grow, you spend a higher proportion of your fiscal expenditures on interest payments.
    The US cannot escape that fact either and the later they admit that, the harder it will be.

    • seigeengine

      seigeengine

      2 саат мурун

      Imagine if you watched the video instead of shitting in your hand and chowing down.

  • SECDUP

    SECDUP

    17 саат мурун

    Trickle down economics works but as the name suggests it takes about 100years and is 99.9% various animals fecal matter when it reaches the lowest point.

  • none none

    none none

    17 саат мурун

    This is amazing, now they have propaganda for the national debt. This is one giant propaganda piece. Scary. John Oliver just reading the script. No conviction with this sentiment

  • jotere erra

    jotere erra

    18 саат мурун

    So John Oliver really about to white wash Obama's horrendous corruption? Didn't Obama make Bush's horrific tax cuts permanent? Didn't Obama bail out wall street and screw over working families? ah nevermind..

    • jotere erra

      jotere erra

      2 саат мурун

      @seigeengineyour next comment better be better than the last cus I hope you're not about to just suck this man off and excuse all his bullshit corruption

    • jotere erra

      jotere erra

      2 саат мурун

      @seigeengine no dumbass, Obama made Bush's horrendouss tax cuts PERMANENT how tf are you not getting this?? if there's one thing you DON'T do in a rescission, it's give MORE MONEY to the ultra rich. Now I KNOW you're better than this. Think!

    • seigeengine

      seigeengine

      2 саат мурун

      "Wow, how could Obama not raise taxes during a massive recession!?!?!?!" Fuck off.

  • Long Xiangyu

    Long Xiangyu

    20 саат мурун

    Love the final kids ad and Cage pillows!

  • ryan

    ryan

    20 саат мурун

    Presidents aren't kings. We have the illusion of choice. "Bush" didn't do anything the same way "Clinton" didn't do anything. We aren't the most powerful nation in the world by flip-flopping every 4-8 years.

  • Will James

    Will James

    22 саат мурун

    Yes, debt is fine if everything goes according to plan. But I say good luck with that. Mindless stuff coming out of the MSM these days.

  • Grotty Thumber

    Grotty Thumber

    23 саат мурун

    This twit claiming not to know why there's zero interest rates is a lie... Or he is very, very stupid.

  • Deep Chatterjee

    Deep Chatterjee

    23 саат мурун

    This is, literally, my face after Reagan's "virtue" comment 👉🏾☹️

  • Bill Green

    Bill Green

    23 саат мурун

    A non uniformed adult. Not a police officer then.

    • seigeengine

      seigeengine

      2 саат мурун

      It genuinely baffles me that any human trusts cops.

  • supercommie

    supercommie

    23 саат мурун

    As a Republican unveils his argument longer the probability of him or her saying the word "tyranny" approaches one. Healthcare? Tyranny. Social security? Tyranny. Basic income? Tyranny. Borders open to immigration of qualified workers? Tyranny. Having consequences for posting racist or conspiracy theory related stuff levied by the platform used? Tyranny. Democrats winning elections? Tyranny. The list goes on and on and on.

  • Matthew White

    Matthew White

    23 саат мурун

    This video is going to be really funny in a couple of months

  • AGene

    AGene

    Күн мурун

    14:09 - wait! it's 2021 it's not 2025 alongside Germany's next elections after those now in 2021! wait! be patient!
    16:30 - creditors, guarantors, closest allies (uk for example) need to maintain the usa's look as stable as long as they have to and keep it looking in control of itself.
    see it as the wave of 2007 is finally coming home after it's short-lived tour in europe. it comes home amplified though. lol

  • Christian Gervais

    Christian Gervais

    Күн мурун

    Someone better have saved that dog in the riot. That precious thing needs to be protected

  • Wojciech Janek

    Wojciech Janek

    Күн мурун

    The profesor says we need to spend on a factory
    John: "we are spending on medicare and other entitlement programs"
    John does not see the issue

    • seigeengine

      seigeengine

      Күн мурун

      The issue is you're struggling to reason at a basic level. Medicare and programs like it ARE a factory, because dead people aren't working, and sick people either can't work or work less efficiently. Therefor it is just like building a factory to take care of the health of your citizens.

  • Wojciech Janek

    Wojciech Janek

    Күн мурун

    why do you make fun of Durst family? Whats wrong about the debt clock?

  • Gorgon

    Gorgon

    Күн мурун

    Dont worry cattle, just keep spending and consoooming, everything will be fine, trust me :)

  • Douglas Beers

    Douglas Beers

    Күн мурун

    Something like a quarter of the debt is held by the government itself. eg. Federal Reserve, SS trust fund, etc.

  • Jordie Fitzgerald

    Jordie Fitzgerald

    Күн мурун

    Basic using Elon as the example... considering how he generates his income.
    Why not Bezos... There's a clear, divisible difference in their philosophy on "Billionairedom."
    Also, one's a genuine Aspie, the others a small-man narcissistic sociopath.

    • Jordie Fitzgerald

      Jordie Fitzgerald

      9 саат мурун

      @seigeengine what constitutes "good" Can you do a psych breakdown & history on both. We'll compare notes. I think you'll find Elon's life philosophy & corporate actions & social, environmental & philanthropic actions are vastly less selfish and sociopathic than Jeff's. Hell they're better than yours & mine for certain! Are just judging Elon because he's become a billionaire?

    • seigeengine

      seigeengine

      Күн мурун

      Neither of them are good people.

  • kshow666

    kshow666

    Күн мурун

    This one doesn’t feel right

  • Joe Merica

    Joe Merica

    Күн мурун

    I normally like Oliver but he's completely off base here. throughout history, every time the government destroys their Fiat currency with excess printing and spending, that society fails. Every time - from Roman, through Germany and most recently Venezuela. It DOES NOT MATTER if its a worthy cause or not or whether both the republicans and the democrats are the same, its still the best way to absolutely destroy the country. Oliver needs to stop being a spokesman for the democrats and do a bit more research on this particular issue. And finally, why do 'liberals' always resort to belittlement, insults and swearing in the end? This is a serious fking issue. If public loses faith in the fiat dollar, or in this case, the world stops using it as its reserve currency, all hell breaks lose.

    • Joe Merica

      Joe Merica

      46 мүнөт мурун

      @seigeengine you think the USA is immune to what has happened every other time in history for some reason?

    • jotere erra

      jotere erra

      12 саат мурун

      @seigeengine then ignore me tf 😂😂 you clearly just demonstrated that you don't have the mental fortitude to even begin a debate. Just quit while you're ahead buddy, and walk away.

    • seigeengine

      seigeengine

      12 саат мурун

      @jotere erra I'm not interested in discussing anything outside the bounds of the subject being discussed. Any attempts will result in you being ignored. This is your second and last warning.

    • jotere erra

      jotere erra

      12 саат мурун

      @seigeengine also Obama has EVERYTHING to do with the subject. Once again he made Bush's horrific tax cuts permanent! Bush couldn't even do that. Why mention how horrible the tax cuts were if you're not gonna mention the guy who made them a permanent thing? Political bias maybe? Obama also bailed out wall street on the backs of working people and kicked millions of people out of their homes and didn't prosecute a SINGLE executive. And you're gonna tell me none of this has anything to do with the conversation?

    • jotere erra

      jotere erra

      12 саат мурун

      @seigeengine yes he DOES. emphasis on "kinda". To touch up on the Venezuela stuff for a sec (btw one of the main reasons Venezuela is failing is due to brutal US sanctions crippling their country and the fact the US is STILL trying to instigate coups there to destabilise their country..like we've done to other countries before.. And the fact we're propping up a leader who wasn't democratically elected to lead a country he wasn't chosen to be President of..and the fact Biden AND Trump are propping up this phony leader who just so happens to be favourable to the west and their intentions. Idk, maybe pick up a book or something dude) but back to my main point, If John Oliver can mention how horrific Bush's tax cuts were, AND the fact that he's a war criminal, then he can also mention how Obama made Bush's horrific tax cuts permanent.... AND the fact he's a war criminal. BOTH things John Oliver kindly left out of the segment. So I'll say again, BOTH political parties in America perpetuate wall street and their grotesque corruption that corrodes the entire system from the inside out. He seems to leave out the fact that Trump allowed 1 TRILLION a day to be artificially pumped into wall street. Come to think of it, Oliver doesn't really mention wall street.

  • Zon

    Zon

    Күн мурун

    It was ok because of US world reserve currency status, if that ever changes...

  • random channel

    random channel

    Күн мурун

    anything can happen and everything can happen only one thing thats certain is death

  • Abby Miller

    Abby Miller

    Күн мурун

    As an Australian, hearing an Australian accent in the middle of an American video is so shocking and I have no idea how people mix up our accents. I'm looking at you England. Get the identities of your ex-colonies in order

  • rbfreitas

    rbfreitas

    Күн мурун

    Great video

  • sarcasmo57

    sarcasmo57

    Күн мурун

    Nah, give more money to the rich.

  • Lucas Bender

    Lucas Bender

    Күн мурун

    I used to think this guy was funny. Until I didn't. All of his jokes feel played out. Some of his information isn't entirely accurate either...

  • Emily Lawrence

    Emily Lawrence

    Күн мурун

    Whenever someone says "This isn't racist, but...." it's gonna be racist

  • av mail

    av mail

    2 күн мурун

    I'm a lifelong deficit hawk. while teeth grinding at times this piece is largely accurate. Republicans are every bit as much the cause of the deficit, and doomsday economists have been dead wrong on predicting inflation. That said when Inflation does hit, the solution will be painful and there is not enough wealth in the 1% rich class to take to cover it. We will all have to pay significantly more in taxes, so vote to spend on programs that you believe are worth spending on, not just because you think others will pay for them.

  • Shanbo26

    Shanbo26

    2 күн мурун

    Yup, right on cue. As soon as the Republicans aren't in office, the deficit suddenly becomes a problem.

  • Tejhunn Ramchurn

    Tejhunn Ramchurn

    2 күн мурун

    https://youtu.be/2ZUCemb2plE

  • Insomniac Tom

    Insomniac Tom

    2 күн мурун

    Thats great and all but what about the 4 million unfilled US jobs that are just sitting there pretty much asking to be taxed at a reasonable rate?
    Well why would anyone go to work when their stimulus checks earn them more than those job would earn?
    Why is your government now that Orange Man Bad is gone still printing money and giving it you so you dont go to work?

  • Mary Lowther

    Mary Lowther

    2 күн мурун

    Isn't it amazing how the Republicans scream about the debt the second a Democrat is in office but spend like wastrels the second they are in the White House? Reagan, Bush 1 and 2 and especially Trump squandered tax dollars as if they grew on trees and the GOP were silent about it, and once again they howl like banshees about Biden. These people deserve to be locked in an elevator with a fraying cable.

  • TheEpicGameHub

    TheEpicGameHub

    2 күн мурун

    My brain automatically ignores anything that comes out of the mouth of any Republican. They are hypocrites and simply stupid so listening to anything that comes out of their mouth just reduces your intelligence over time. Ignore them. Easy solution.

  • tmokleby

    tmokleby

    2 күн мурун

    This video will age badly.

  • Very Anonymous

    Very Anonymous

    2 күн мурун

    Hey, let's cut taxes to the rich so that after they've bought all the useless crap they don't need they can then invest the rest in the Bank of the American Government which is in desperate need of money now that it has lowered taxes. Seems to me that it's a system of allowing the rich to own the USA several times over and hover up all the remaining wealth of the poor through taxes used to make up the loan repayments due.
    Anything other than taxing the rich hard is just stepping on your own tail in terms of lowering the national debt.

  • Abby Dabbs

    Abby Dabbs

    2 күн мурун

    Everytime I see Ted Cruz on this show I get exited now

  • Bernard Kerman Adventures

    Bernard Kerman Adventures

    2 күн мурун

    Remember when this show was funny?

  • K M

    K M

    2 күн мурун

    The first thing America and Britain need to do is to get rid of the Murdoch Empire! The insane hypocrisy and double standards by their minions need to stop.

  • Matt Mosley

    Matt Mosley

    2 күн мурун

    National debt: Terrible when Republicans are in... A smart investment when Democrats are in 😉
    Increasing the money supply = ROBBING people of the worth of their current cash via #Inflation
    How about paying all those contractors paid to rebuild OTHER countries after wars to rebuild YOUR OWN country?

    • seigeengine

      seigeengine

      2 күн мурун

      I love how you're literally trying to project Republican's hypocrisy on the national debt, despite that making zero fucking sense. Couldn't be more classically right-wing though. That's literally your only tactic these days.

  • CrazyTown Bros

    CrazyTown Bros

    2 күн мурун

    Suck it John. You are just an entertainer. No expert on economics. Stick to singing and dancing.

  • Corey Thomas

    Corey Thomas

    2 күн мурун

    So stimulus cheques to foreign nations (Egypt, El Salvador, Guatemala, etc.) is a great investment? Yes, USA congress did this last year. Cool. Cool. Cool. Just wait until your fiat becomes worthless because you print it like nothing else. The USA is in the 6th stage of the 7 stages of an Empire. The 7th stage is not fun.

  • Pēteris Krišjānis

    Pēteris Krišjānis

    2 күн мурун

    Cue all trickle down bros moaning, which is essentially boils down to "no, I got all the money and I won't pay for poor people so I will invent whatever economic theory I want to justify it"

  • Zz814 Zz

    Zz814 Zz

    2 күн мурун

    The national debt equates to private sector surpluses. So essentially when you preach austerity you are simultaneously saying you want to eliminate private sector profit. #learnMMT #MMT #EachOneTeachOne

  • J Bryant

    J Bryant

    2 күн мурун

    HBO, a well known unbiased intellectual resource, gives you all you need to know.

  • Darren Steven

    Darren Steven

    2 күн мурун

    Nice work. The bit at the end really nailed it

  • Govi Modo

    Govi Modo

    2 күн мурун

    They “care” about kids futures for debt but not climate change

  • Stewart de Visser

    Stewart de Visser

    2 күн мурун

    If the american and for that matter Australian governments invested in bitcoin then maybe we wouldn't have debt now lol......... crap if I had of invested in bit coin I'd have no debt now, but I am still to afraid to risk my money lol

  • Adam Kuc

    Adam Kuc

    2 күн мурун

    Google MMT :)

  • Hashirama Senju

    Hashirama Senju

    2 күн мурун

    19:10 i was worried that my wife would get jealous so. This one is to replace my wife.
    Perfect

  • Ian Baker

    Ian Baker

    2 күн мурун

    Umm no it is

    • Ian Baker

      Ian Baker

      2 күн мурун

      Very true

    • Ian Baker

      Ian Baker

      2 күн мурун

      You dumb shots want to give money away to everyone

    • Ian Baker

      Ian Baker

      2 күн мурун

      And that’s why you are a mouth poece

    • Ian Baker

      Ian Baker

      2 күн мурун

      Annnddd....?

  • Ian Baker

    Ian Baker

    2 күн мурун

    Ummm did you forget we were attacked!

  • Ian Baker

    Ian Baker

    2 күн мурун

    You are a race batter

  • AlonditeMX

    AlonditeMX

    2 күн мурун

    Here's a fun fact: The _interest payments_ on the debt (including unfunded obligations) are greater than the _entire sum_ of the federal government's collected tax revenue. It doesn't matter if the majority is owed to the US people beyond those who actually own the federal bonds; you still need to pay taxes, and literally every penny you give them gets flushed down the toilet to finance an ever-increasing debt that nobody is doing anything about.
    But we don't need to eliminate the debt, we just need to be able to finance it while not running a deficit. But that will never happen because federal legislators are _entirely_ self-serving, and eliminating debt doesn't benefit them because they're playing with other peoples' money anyway.
    And this part is even more fun: In the like 60-70 years or so that the IRS has been tracking federal finances, raising taxes has, _not even once_ resulted in a statistically significant increase in tax revenue, regardless of tax rate (even with rates as high as 90%); they typically collect about 17% of the GDP (+/- 1-2%) in tax revenue. More than that, though, there's actually a _negative_ correlation between tax rates and federal revenue (particularly when most of the taxes are collected from the wealthy), likely because of the detrimental effect high tax rates have on the market. Sure, you're taking a larger percentage of the pie, but the pie itself is way smaller.
    So basically, the entire "tax the rich to pay for everyone else" rhetoric is objectively flawed and financially impossible. Cutting expenses (ideally by gutting the federal government) is the _only_ viable solution.

    • AlonditeMX

      AlonditeMX

      Күн мурун

      @seigeengine I don't care what you think; the data is clear. Never said anything about the US being special. Different is different, not special. But it still matters. "I don't resent the wealthy." "Inheritance is the predictor of success [sic]." Lol, sure. You resent the wealthy, and you're insecure. That's why you believe what you believe. You can't admit that other people are so significantly more capable than you are if you ever want to be able to sleep at night. You havent even the slightest notion of what some people are capable of and the degree to whixh they outperform.you in virtually every facet of life. You cant even comprehend. You're the typical "I've had my shit pushed in my whole life because and now I'm butt-hurt about it" pro-government, probably socialist scum bag that make things difficult for everyone else because you want to use government force to knock the more capable people down and hinder their success so that you can actually compete. Discussion over. Your entire argument bas been "no, you're wrong" without anything substantive, so it's clear you're incapable of even having this discussion. Reply again and Im just going to delete the whole thread; I don't have time to play games with children and I'm sick of getting notifications.

    • seigeengine

      seigeengine

      Күн мурун

      @AlonditeMX Except you are. Except they're not. Except the US isn't special. Except I don't resent the wealthy. Except it's not adaptation, but inheritance that predicts such success. There's a reason approximately none of the world's billionaires grew up poor; even the self-made ones grew up in relatively wealthy households.

    • AlonditeMX

      AlonditeMX

      Күн мурун

      @seigeengine Except I'm still not wrong lol. So hate to break it to you, but no face-rubbing; I've done enough legwork over the years to know that I'm not wrong. Unfunded Debts are not future debts. Where in the hell did you pull that from? They are debts the government owes _now_ that are _unfunded_ . So I forgot about them in my OP, sue me; it's been years since I've actually worked with this data. I'm actually using _all_ 2017 numbers. The debts are higher now. All of them. As are the payments. And yet revenue isn't. The US isn't other nations, it's the US. Making logically fallacious apples-to-oranges comparisons to other nations accomplishes nothing. They don't have the US government, culture, or economy and are thus not applicable. Or do you honestly believe that you can just take one complex, dynamic economic system, copy/paste it to another, completely different nation, and expect it to function the same? I can feel your resentment toward the wealthy from here. What's the matter, are you bothered by the fact that other people are massively more well-adapted to succeed in modern human society than you are?

    • seigeengine

      seigeengine

      2 күн мурун

      @AlonditeMX As is hilariously apparent, I'm making you do it because you're wrong, and I already knew you were wrong, so I'm forcing you to show your work so I can then rub your face in it. In other words, you're basing it on the hilarious premise of including future debts that may or may not ever actually exist, and then blindly calculating a present-day interest rate on that. That's genuinely insane. Again, completely wrong. This daft notion is demonstrated to be completely false by comparing tax revenue to GDP across countries, where it varies enormously.

    • AlonditeMX

      AlonditeMX

      2 күн мурун

      @seigeengine Oh you're right, I forgot about one thing: Unfunded obligations. So the 2.5% interest (totaling about $3.8T) of the $150T of unfunded and debt-related financial obligations is higher than the $3.3T in revenue, for a net $500B loss. And the federal government has additional financial obligations on top of that. As of 2017, which was the most recent data I could find with a quick Google search, which was before trillions more were piled onto the debt in the form of pandemic stimulus packages, so the outlook is even more bleak now. However, one thing remains crystal clear: Higher taxes do not result in higher revenue, particularly when levied against the wealthy. Hell, only like the top 10% of earners even have a net tax rate of over 0%.

  • Niko Archer

    Niko Archer

    2 күн мурун

    “The key to ending inflation is to create a balanced budget” - Ronald Reagan. That’s not now inflation works lol.

  • Donald Kenne

    Donald Kenne

    2 күн мурун

    Well there is a massive difference between someone borrowing money to make a factory, and government borrowing tons of money.
    Number one, one is actually intending to produce something. Government produces nothing. It only takes.
    Government spending also tends to not be efficient in any way shape or form.
    Also, government revenue never fell under Donald Trump. In fact, it continued to rise, even after the tax cuts. Now, did it rise as much as it might have otherwise? Maybe not. Definitely not like revenue actually fell. Not to mention Americans got to keep more of their money.

    • seigeengine

      seigeengine

      2 күн мурун

      EH!!!!!! FALSE ON BASICALLY ALL COUNTS.

  • Kevin Hickey

    Kevin Hickey

    3 күн мурун

    What does 2 + 2 = ?
    Mathematician : 4
    Statistician : pretty close to 4
    Economist: What do you want it to equal?

  • Jennifer Lundberg

    Jennifer Lundberg

    3 күн мурун

    That would be all well and good if our governments spent the money well. They don’t.

    • Jennifer Lundberg

      Jennifer Lundberg

      2 күн мурун

      @seigeengine false equivalency but I see your point. I’d be willing to pay Sweden taxes if had people in our government that Spent the money the way Swedes do. Unfortunately our government has shown time and time again that they squander everything given to them.

    • seigeengine

      seigeengine

      2 күн мурун

      So change what the government is spending money on? If you use your paycheck to buy weapons to go shoot up a church, the problem wasn't that you got a paycheck.

  • Roel Martin van der Velde

    Roel Martin van der Velde

    3 күн мурун

    That John Oliver guy is wickid smaa't

  • ArrZarr

    ArrZarr

    3 күн мурун

    "Economists really have no fucking idea" could probably be Wall Street's motto if it had any sort of self awareness.

  • ohsosmooth01

    ohsosmooth01

    3 күн мурун

    I thought the best investment he ever made was that fucking rat painting.

  • Antonio Badillo

    Antonio Badillo

    3 күн мурун

    "I am not an economist", there you go

    • seigeengine

      seigeengine

      2 күн мурун

      "I have no actual criticism." There YOU go.

  • Pat Tanackered

    Pat Tanackered

    3 күн мурун

    1 in 15 people disliked this video.... I just can't fathom why

  • Jo Hayes

    Jo Hayes

    3 күн мурун

    A Durst winging about the national debt!!!😂😂😂

  • SheyD78

    SheyD78

    3 күн мурун

    This is everything that's wrong with the republican stance (*hyperbole included). Crying about spending while giving tax cuts to those who need it least and spending more on the least productive sector of the economy. Yes everyone wants the US military to be strong but the spending is just crazy. I bet most US military who have any knowledge of how the money is spent would agree, so little for so much thanks to corporate shenanigans. I wish I could see a solution. Good luck Biden, you're going to need it.

  • David Riley

    David Riley

    3 күн мурун

    Money is a lie, anyway.

  • Alexander Robottom

    Alexander Robottom

    3 күн мурун

    I have a feeling this might not age well...

  • Brian T

    Brian T

    3 күн мурун

    No mention of 4 key facts: the biggest programs transfer wealth from the young to the old (SS and medicare), there is an additional $120T in unfunded obligations that is as good as borrowed, that much of the debt is funded short-term and the interest rate can rise in less than a year (like a variable rate mortgage), and finally even if we don't know when the economic crisis will happen we definitely know that it will: history is full of countries that have over borrowed and suffered an economic crisis, there's no reason to think US would be different.

    • seigeengine

      seigeengine

      2 күн мурун

      It amazes me how many words people can spend to say nothing.

  • Masha V

    Masha V

    3 күн мурун

    My boy John getting grey awfully quickly

  • somedeveloperblokey

    somedeveloperblokey

    3 күн мурун

    Who do we all owe this money to?
    Let's phone them up and say, "No. We're not paying. What the f*ck are you going to do about it?"

    • seigeengine

      seigeengine

      2 күн мурун

      As mentioned, 2/3 of America's debt is owned to Americans, whether individuals or other entities.

  • AlchemistsCookbook

    AlchemistsCookbook

    3 күн мурун

    What's with hating on Elon? You really think HE is the rich person we should tax!?!?!?

  • George Duke

    George Duke

    3 күн мурун

    Maybe don't spend nearly a Trillion dollars on your shitty military.... might be a start at reducing the debt!

    • seigeengine

      seigeengine

      2 күн мурун

      To be fair, Oliver is kind of on the side that wants to spend less on the military.

  • Benedict Claxton Stevens

    Benedict Claxton Stevens

    3 күн мурун

    Thats all cute but its generally believed were about to hit inflation so the its okay until is a bit moot as it may be.... like starting last week.

  • Matt Brand

    Matt Brand

    3 күн мурун

    10:45 - 10:56.. best 11 seconds!

  • SupaDanteX

    SupaDanteX

    3 күн мурун

    "We can create all the money we need, as long as we dont end up with inflation"
    ...What? How does one create money without inflation? That's like saying we can blow up a balloon as long as we don't use gas. Or a better word
    Inflate a balloon.

    • SupaDanteX

      SupaDanteX

      Күн мурун

      @seigeengine Hmm. yes. "May". "Can". Will. Will. The only situation where it's "May, and Can", and not "Will, and Will" Are if a LOT of people are either stupid and/or not paying attention. But we obviously disagree on this and won't convince each other, so this is my last comment on the matter. Have a nice day :)

    • seigeengine

      seigeengine

      Күн мурун

      @SupaDanteX "No cute abstractions, now let me blab about an abstraction at you." Let me layer on you. Creating money does not cause inflation. Creating money may decrease the value people perceive each unit of that money to have. If a sufficient number of people perceive the value of each unit of money to have decreased as a product of the addition of new money, then this can cause inflation.

    • SupaDanteX

      SupaDanteX

      Күн мурун

      @seigeengine no cute abstractions. One of the things that causes inflation (The prices of things going up) is literally the creation of money. More money means money in total is worth less, so the price of things goes up to compensate. There should be literally no way to create free money without also causing inflation to some degree.

    • seigeengine

      seigeengine

      2 күн мурун

      because reality is a lot more complicated and messy than the cute abstractions in our heads.

  • Matt Brand

    Matt Brand

    3 күн мурун

    you're a fucking legend John!

  • Thomas L

    Thomas L

    3 күн мурун

    I guess it was naive of me to think that after spending 4 years of saying debt doesn't matter when it comes to tax breaks and subsidising trade wars, that they wouldn't start complaining when Democrats get in

  • balventray

    balventray

    3 күн мурун

    Don't worry it "JUBILEE YEAR" debt forgiveness. It's the only option

  • Jacob Price

    Jacob Price

    3 күн мурун

    Could not agree more. The “National Debt” is the biggest non-issue of modern politics. Are there things which are concerning about it? Yes. Should it be given the amount of attention it is? No. Does it work even remotely like most politicians and pundits say it does? Absolutely fucking not

  • ollyshuteye1982

    ollyshuteye1982

    3 күн мурун

    Isn't the US Debt in US dollars? So if you really wanted to, you could just print more money and pay off a larger chunk of the debt.

  • Xiaotian Cui

    Xiaotian Cui

    3 күн мурун

    Dollar supermacy basically allows fed to print money non stop as dollors is the world reserve currency. America is actually have a whole world to inflat when it comes to debt... The worst thing is those American debt cant even be spent in those countries because it will inflat themselves.
    Btw japan is going to empty their nuclear waste water caused by Fukushima into Pacific (which they claim its clean now for the second time lol), so theyre going to buy more American debt to gain American support on that...

  • JhericFury

    JhericFury

    3 күн мурун

    If you avoid taking out a loan even though you need it to replace your companies essential machinery, it's not fiscally sound. If you sell off essential machinery to make a quick buck, it's not fiscally sound (unless you're asset harvesting). It's the same with a country.

  • ZerreZ

    ZerreZ

    3 күн мурун

    some economists belive a debt crisis can be avoided by a debt right off. would have to be a global agreement with many countries and organisations

  • ZerreZ

    ZerreZ

    3 күн мурун

    the interest rate has been falling due to many factors QE and other shit

  • BluffaloSoldier

    BluffaloSoldier

    3 күн мурун

    I think Oliver’s claim that economists have “no f’ing idea” about this topic is misleading. High levels of sovereign debt has precipitated many economic crises around the world for hundreds of years. Just b/c the relationship is imperfect, it doesn’t mean that high levels of debt are safe. Accruing high debt is like driving drunk and getting in a serious accident. U can get away with it some of the time, but it is really unwise.

  • Princess Buttercup

    Princess Buttercup

    3 күн мурун

    John Oliver replacing his wife with a Nicolas Cage pillow... time to write the best smut fanfiction ever.

  • Robyn Goh

    Robyn Goh

    3 күн мурун

    I'm not an expert, but I recall from one of my economics classes in university (did my bachelors in business management) this: The fear that America will eventually devalue the dollar to reduce this debt (since they are denominated in USD), and massive economic repercussions will follow.

    • seigeengine

      seigeengine

      3 күн мурун

      Okay, so why would the USA do that? What precise conditions would force the USA to do that?

  • daniel job

    daniel job

    3 күн мурун

    Give money to the poor, they use it to pay bills and buy stuff, stimulating economic growth and stabilising infrastructure. Give money to the rich, they hoard it in an offshore tax shelter.
    I thought everyone knew that!

    • seigeengine

      seigeengine

      3 күн мурун

      The entire republican narrative is that if you give money to the rich they'll invest it and grow the economy, which is (almost entirely) wrong. While some does get reinvested, generally the rich are already optimally investing in the growth opportunities beneficial to them, so more money just gets spent making them richer, generally by hoarding valuable assets.

  • Zilron

    Zilron

    3 күн мурун

    We know exactly why interests rates are low, they are determine by the Federal reserve in the USA. Saying they don't know what causes low interest rates is a flat out lie.

    • seigeengine

      seigeengine

      3 күн мурун

      I mean, that's not entirely true. While the Fed does influence this, they also rely on other entities purchasing that debt. If rates are too low, they risk those entities simply refusing to do so. If confidence in the ability of the US to repay it's debt goes down, then demand for that debt would go down, forcing a higher interest rate to entice investors. The entire point raised is that it's predicted that would have already happened, but it hasn't, so prior theories on where the line is were clearly wrong, and they don't know what the actual line is.

  • Jonas

    Jonas

    3 күн мурун

    very poorly researched piece. 'we don't know why interest rates are low' - BULLSHIT. The interest rates are so low because the FED is artificially manipulating them down. This is not a conspiracy theory, this is called officially 'Quantitative Easing', more commonly known as 'money printing'. The FED deliberately and openly does that to keep the interest rates low. And if they didn't do that, the interest rates would skyrocket and the US federal government would be broke within weeks. There, here's your answer, now you know.

    • Jonas

      Jonas

      3 күн мурун

      @Chris Haven oh, and they have been using QE SINCE the GFC, not DURING. Or the GFC just went on for 8 years, whatever you want to call it.

    • Jonas

      Jonas

      3 күн мурун

      @Chris Haven The money printing started in 71 when Nixon took the USD off gold. In 1980 it came to a head because people lost trust in the USD and Drucker raised interest rates significantly to stem the loss of value in the USD. Since then it has been going down, yes. And yes, QE started in GFC. So you're saying that interest rates have gone down before, QE cannot be the reason why they are going down/are down now? That is false logic. Also, the FED itself STATES that they do QE to keep interest rates down! They themselves say THIS IS THE PURPOSE OF QE, TO PROVIDE YIELD CURVE CONTROL (i.e. keep rates down).

    • Jonas

      Jonas

      3 күн мурун

      @seigeengine well they DO print money freely (FED balance sheet doubled in the past 12 months), and that is exactly the thing that is pushing down interest rates. The Fed types numbers into a computer and syphons up every US bond they can get their hands on - this demand drives interest rates down. They have been doing this since the GFC and when they tried stopping it, interest rates went up immediately and the US economy near crashed in 2019. Hence they print more money (oh sorry, should say 'perform quantitative easing'.

    • Chris Haven

      Chris Haven

      3 күн мурун

      Interest rates have been falling since the 1980s. Quantitative easing's not something they use all the time. As far as I can tell, since the 80s, they've only used it twice: During the financial crisis of '08 and '09 and in response to the covid pandemic. How exactly do you figure QE being reponsible for low interest rates considering it started dropping roughly 3 decades before they started doing QE the first time?

    • seigeengine

      seigeengine

      3 күн мурун

      If they just printed money freely, that would result in the same thing: devaluing of ownership of US debt, resulting in higher interest rates.