Ukraine invades, Italy tricks the rich, CEO’s China warning, Bangladesh’s revolution & more
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SOURCES:
I’ve linked my sources in the blog that goes along with this video. Links are in the text.
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Timestamps:
0:00 – intro
0:23 – stock market madness
5:15 – Ukraine invades Russia
7:42 – Italy tricks the rich
10:41 – Revolution in Bangladesh
13:19 – Multinationals lose in China
Attribution:
Music by Epidemic Sound: http://nebula.tv/epidemic
Thank you to AP Archive for access to their archival footage.
Stock footage and others clips by Getty
Narrated and produced by Dr. Joeri Schasfoort
Edited by Chris Adewole
39 Comments
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Trying to call it 'desperate' shows the true colors of this channel, and they are not yellow and blue. Fuck this kremlin whitewashing. Unsubscribed.
Is Joeri like masked russian Yuri?
Hai from Vancouver
Your recent videos aren't as good as your previous ones. There's not as much research behind your narratives. In this video you're basically just sharing a lot of opinions. Hopefully you don't morph into Economics Explained because lately your critique of his content is becoming more and more applicable to your own content. I guess it's kind of the life cycle of a YouTuber in that you're pressured to release more content faster to keep your channel going.
Half of your talking points aren't really about economy, it's like weekly news basically. Can we go back to previous kind of videos?
we need to start taxing income where it is generated, not where the person who receives it lives. If someone makes millions from owning UK property and businesses, they can only make that money because roads and bridges and education and policing is provided. If none of those things existed, the assets would become close to worthless and the business would go under. So it's only right they pay taxes here to help pay for the government services that their profits rely on, wherever they choose to live
I dug a little bit more. Well. I don’t think you can use the word “trick the rich people” for Italy for two reasons: 1) the 100 k Euro flat tax was introduced jn 2017 and after the post covid inflation wave it was reasonable to adjust also that old flat tax, 2) those who moved to to Italy when the flat tax was 100 k will continue paying 100 k even after the 200 k flat tax will be introduced. So, nobody got really tricked. I think Italy just acted reasonably.
To repeat what Alex Amadeo stated,
1. The invasion of Russia has nothing to do with the economic situation. There have already been incursions into Russian territory but with the participation of the Russian Legion, i.e., ethnic Russians fighting on the side of Ukraine. Now Ukraine has decided to escalate the situation and invade Russian territory with its own forces.
2. The default you are talking about is purely technical. Yes, Ukraine has limited financial resources to pay interest on its debt, but everyone, both in Ukraine and in the West, understood perfectly well that Ukraine would postpone the payment of its debt, so there was no question of a real default.
3. Ukraine did not need to seize the key gas transit point mentioned in the article because the gas pipeline runs through the territory of Ukraine, and there are many valves that could be closed to prevent the gas from flowing to Europe.
Bottom line: Your analysis is pretty flawed, and now I’m starting to doubt the validity of your other videos.
Is bringing in more millionaires into a country resulting in more investment into the country? At the personal level, the move is often done for tax purpose, but given the international mobility of capital, it says nothing about where those millionaires will invest. Are there actual studies that show a beneficial effect by the kind of policy implemented by Italy? I see this measure as one more component of a neoliberal fantasy land.
This guy is a news reader. Not a cell of primary research exists in his body.
Us job data is as fake as it gets its a number the fed manipulates currency manipulation favorite toy of fed reserve tools of oppression.Theft true purchase power manipulation its not the house thats worth more but the currency that falls in value.Aint it odd that its nearly always revised downward?10.08 the wealthfare state is a ponzi skeme that is unfundit all contributions you make are not kept on seprate account but spend as they come in…is why there are large unfundit liabileties now…the state hes been using pensioners to live above it means
Please do a video on future upcoming tax havens. Uae is new tax haven but i expect some Caribbean and south american countries to have tax havens in future although there are already tax havens in Americas
German cars having the dramatic fall of Nokia for not investing in innovation. Short sighted CEOs
Umm actually Bangladesh has a small border with Myanmar☝️🤓
@MoneyMacro
Stay in your lane. Talk economics, don't speculate on behalf of the Kremlin. Personally, if you pull this kind of crap content again, I will be unsubscribing.
If that's what you and your audience want, thanks for all your previous videos!
Inequality and these wealth tax issues is like the world after shooting ourselves in the foot, competing on who can tournequet the best and limp on. With demographics making it a all or nothing, potentially bleed out and death game. Wonderful isn't it
The job numbers explanation is particularly asinine
Based miss Meloni, I love her <3
I believe Jesus Christ died on the cross for my sins and rose again and he's alive and well forever more. I believe God in the flesh is Jesus Christ. Thank you.
I find the news and commentary on the international economy you have been providing on your YouTube channel balanced and fair.
You have also been lecturing and teaching about traditional economic principles and ideas on your YouTube channel. For further progress to be made and to reduce conflicts on the planet and increase trust, respect and honesty among nations, I think some of the old ideas about economics need to be revised. This could also reduce crime and poverty.
Here are some books with some new economic models and ideas that look promising to me: “Doughnut Economics” by Kate Raworth, “Prosperity without Growth” by Tim Jackson, “Confessions of an Economic Hit Man” by John Perkins, “Beyond Growth” by Herman Daly. Here is a good source of information. “The Centre for Advancements of the Steady State Economy”. Perhaps you can promote and teach some of these new ideas.
I think capitalism is the best system with the best ideas but I also think some of the ideas of capitalism need to be amended with the primary focus and objective now being sustainability not growth. I also think the idea within capitalism that greed and selfishness is somehow a good thing needs to be forgotten. Greed and selfishness in any economy is not good. Competition is good but capitalism also needs to be encouraging much more honesty and responsibility and also promote cooperation, fairness and morality. If capitalism is modified in this way maybe we can’t call it capitalism anymore. Perhaps we can take the good ideas from capitalism and combine them with some of the good ideas from socialism and call it something else. Sweden, Finland, Norway and Demark have had some success it doing this.
Sometimes I really find Your hard line rhetorics unpleasantly screwed, in particular considering Your national composure, your staunch stance in comparison to to your expression of genetic composition, as in how You choose to express Yourself towards members of non-white peace wanting representatives of IMF acknowledged national entities, such as me.
I understand how we prefer to comprehend the world in (!) our particular legal perspective, but however respectful You are of this banal fact, I find it difficult that You are so indifferent to the legal rights beyond those wobbly entities, that You are so insistent on interpreting the world for.
You are getting very unpleasantly indifferent to the rights of Natives, who are in a compliment ed place – and I find it very chilling, unpleasant, and heartbreaking.
It's OK to claim that you belive in a particular school of economics, as long as You are honest about the implications.
Please be honest about how You feel about the rights of Ethnic gropus not directly and formally represented in The UN, and if You so care; please comment on Your stand on The Apartheid.
With loving, bur concerned, love from Greenland
CNBC says that 40% of linked in job offers in US are zombie offers. Seems like slowing down is imminent.
Not sure how US gonna fix public finance without taxes or increase in M2
All these millionaires and billionaires wanting to move to countries so they don't want to pay their fair share of taxes are parasites.
12:00 please also mention how Bangladesh started a pogrom on its minority after their nobel winner became pm.
Many hindus temples were burned to the ground by them.
Didn't expect an "economist" to call a ~5% downturn in stocks a "crash".
The Ukraine part was also not worth listening to. Hard pass on this video.
Love those economic update videos 🎉
“Outcompeted” vis-a-vis China is doing some heavy lifting there
Your Russian heritage is starting to seep through. Very bullish on the Russian economy and now calling Ukraine incursion into Russia “desperate”, and blaming economic crashes on the Ukrainians.
One Monday created all the commotion
I love your content, but since I currently live in Vietnam, I need to point out that the car shown at 14:33 as a "Chinese competitor" is from a Vietnamese brand – Vinfast.
Could you please stop using political and loaded terms like tax burden/relief and replace it with more neutral terms. It may be a economics term, but so is proletariat and bourgeois.
The percentage of one's income that covers basic life expenses (healthcare, pensions, education, etc) is covered though companies or government is a political question, and not something economists should influence through loaded language.
Funny how Joeri considers himself to be a small creator, yet he has 389K subscribers at the time of writing. Not quite the small fish anymore. 😉
I find it laughable that the very same western companies who moved manufacturing to China because there they'd only pay a pittance in wages compared to the west, are now complaining about weak domestic demand in China.
Channels like this give the eat the rich crowd a lot of validity. Just oozing of poshness and arrogance.
The paranoid ideation that this channel is Pro-Kremlin is pathetic. Bunch of idiots.
He never said the ukranian invasion was bad.
I don't think anyone is looking at a default in Ukraine during the war. We all knew that Ukraine would be dependent on all forms of foreign aid to survive this invasion, and it's not just in physical materiel, but rather public financing too. The video made it out to sound like there was no public-sector support of the Ukrainian econom, but there's been quite a lot. It's really not a big economy, having about a $40-billion total budget in 2019 at a significantly more attractive exchange rate to the hryvnia than today (almost 2x). It's basically what the budget was for the state of Arizona at the time. Obviously with Ukraine already at war in 2019, Kyiv has a lot more things to pay for than does Phoenix, and it has about 6x more people and a lot more capital requirements for infrastructure.
Calling the Kursk operation "desperate" isn't really accurate either. High-risk, high-reward is more like it. To say that Ukraine needed some positive news to encourage its allies to support its economy is maybe number 37 on the list of possible and contributing reasons. I'm pretty confident that most military personnel in allied governments understand the reason why Ukraine is fighting a defensive war to inflict disproportionately higher losses on Russia than it experiences itself. Most of the governments understand this as well, and Europe is largely convinced that no ceasefire that maintains Ukrainian sovereignty is even on the horizon, and that such an unfavourable end to that war would mean EU countries would be invaded next and quite possibly with conscripted Ukrainian soldiers impressed (as in being forced into military service) by Moscow to fight for Russia. It really makes no sense for NATO, the G7, and especially the EU to allow Ukraine's economy to fail and cause such a dangerous situation for Europe. It'll be EU citizens fighting and dying in the next war.
Given the success of the Kursk campaign in terms of diminishing the russian fighting potential, capturing russian equipment, capturing territory and creating chaos in russia, it is strange to call it desperate. Seems to be a rather well calculated move on their part, although only time will tell.
The gas story is rather relevant due to the reluctance of Hungary and Slovakia to switch suppliers followed by their unsucessful attempt to blackmail Ukraine and the EU, leading to stress in these economies. The captured gas station does potentially allow Ukraine to control gas flows better than via direct interdiction over it's territory, but that's really secondary here.
Why my MACRO profesor talking about war tactics ?