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

Objavljeno 4. apr. 2021
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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Komentarjev

  • Loved the end

  • Why can’t we invest in the country without running a deficit? We pay $300+ billion in interest payments on the federal debt per year. That is 9% of the federal budget and will just keep increasing each year we don’t pay down the debt. That means more and more of our tax dollars is gonna go down the toilet.

  • 21:06 John's urn says that he died 5 days before this episode aired. RIP John. Hope there are plenty of Nick Cage pillows in heaven.

  • I just realized that rich idiots can become president and actually knowledgeable scholars are probably in debt and work for said idiots

  • There is no debt. The government simply prints money to pay the debt.

    • @Clue Less No. Wrong. You fail. Do not pass go, do not spew your nonsense into the world.

    • @seigeengine All money, doesn't matter if its gold or Yen or US dollars are physical representations of a debt, they are IOU's and all debts have two sides. They are liabilities for the issuer and assets for those who hold them.

    • @Clue Less No, money is not a debt, and even were it, those statements would not flow one to the other. You might as well have said "dogs are apples, apples are the origin of all birds."

    • @seigeengine This is incorrect, money itself is a debt, there is nothing to "pay down".

    • @seigeengine no it’s not. One can survive a suicide attempt. Printing some money to pay the debt and print enough for the people would be perfect.

  • The problem right now isn't so much about borrowing money, but about inflation. The government doesn't need to borrow, for say, because its printing it (20% of all US dollars were printed in 2020).... So there can't be debt as long as you're making money to pay it. The problem is, you can't just keep printing money.... because inflation can't handle it... it just can't. The more you have of something, the less that something is worth.

    • @seigeengine Incorrect, the Federal govt always creates new currency for ALL of its spending. It never takes in revenue for funding. Look at where the word revenue comes from, its french for return. Tax revenues are returning US dollars to its original issuer. So since its returning, its not actual income for the Federal govt. The Federal govt does not need income. Its not that the Govt can take measures to create new currency, its that it already does, and it does it every time it spends without exception. US dollars originate from the Federal govt and while we do replace old notes with new ones, the majority of the money supply is digital and held in bank accounts. In order to spend the Federal govt credits bank accounts, and in order to tax bank accounts get debited.

    • Faulty premise. That statistic is talking about the literal printing of physical bank notes AKA things that wear out in a few years. The government can take measures to create new currency to pay for things, but it draws in extra revenue to fund it's programs by loaning it from various entities, from other government programs, to domestic and foreign investors, personal and institutional.

  • And the funny thing is.... ALL of this comes back to one thing: the guy with most votes not winning the elections.

  • Biden is a failure as president.

    • You're a failure of a human being.

  • Excellent video. Reminded me what an incredible fool John Stossel is.

  • I also bought a Nicholas Cage in banana but as a banner for my friend. He loves it.

  • Great analysis of conservatives (like Stassel) woeful misunderstanding of the national debt, no governments aren’t to be run like business, anyone in business knows that. Awful negligence by Oliver to ignore the role of central banking and QE in all of this, better points to be made about the uncertainty of the economics of this time

    • You have offered nothing but whining.

  • Gee I wonder why the interest rates are falling, maybe has to do with the Fed setting them low for Uncle Sam to keep up with the interest payments. Just a guess.

    • @Jackie D I mean, I'd guess the US government is, but even then, it's only a fraction of the total.

    • @seigeengine who is the largest buyer?

    • Ignores the reality that interest rates are subject to buyer participation.

  • You guys should pay for some Hayek and Friedman on Amazon

    • Hayek and Friedman need to pay us back for all the people their bad economic advice have killed.

    • @Manny Wilde Gibbons So as a layman, I can easily refute most of Robert Murphy's rebuttals, I think that really says something here. That perhaps Robert Murphy feels he has something to lose and therefore makes strawman arguements against it? They are easy to refute because the things he says about MMT are simply not what MMT purports. How can you have a valid criticism of something when you can not accurately describe what it says? Sooo on the off chance that you are also intellectually honest, please name one of his criticisms here as an example and I am pretty sure I can address it. I assure you I read the entire thing.

    • @Manny Wilde Gibbons ...I wrote a whole bunch of stuff and it got deleted smdh. I'm not going to do that again. Point is I have read Robert Murphy's criticisms, he makes strawman arguements as to what MMT says, assumes MMT says something then argues why its a problem. He does it consistently, misrepresenting what MMT says. I've read the entire thing from top to bottom, he hasn't disproven a single thing about MMT. Nothing obliterating about his rebuttal, it would only seem "obliterating" to someone that does not understand MMT. I understand MMT enough to know what his criticisms are, have looked into his criticisms myself to discredit MMT so as to make sure I am not just being biased in any way. I have found his criticisms to be underwhelming and already addressed in MMT literature.

    • Fortunately I have read David Graebers book which he does refer too, I've also read many other MMT books, articles and academic papers, listened to many many lectures and podcasts by MMT economists to understand Austrian criticisms, I disagree wholeheartedly with Robert Murphy and see how he skips over details to fit his own narrative.

    • ​@seigeengine Marvelous contribution.

  • We should have a playlist of all these commercials so we can post and share

  • A lot of omitted information there and very misleading in general due to political bias. A decrease in tax burden creates incentives for companies to establish in a jurisdiction which creates jobs and hence increases the GDP. He’s perhaps thinking in terms of the twentieth century and the industrial era, now that we live in the information era, it is far easier for a company or “the rich”, to move to a jurisdiction that offers better tax conditions and then who is the Government going to tax? They will have to print more money than ever to meet the deficit, but wait, they are already doing that! 40% of the entire US money supply has been printed since the pandemic started (another fact he forgot to mention) If you don’t know what inflation is I bet you’re starting to feel it in your pocket by now and by the comments I see here, a lot of people are just completely oblivious of that. The best you can do is buy #bitcoin and protect your life work and savings.

    • yeah a decrease in tax burdens creates incentives for companies to move in. Meanwhile states slash their budgets, cut funding for education, or raise taxes elsewhere. States are mandated to provide certain services unfunded by the Federal govt. It is all a part of the race to the bottom, meanwhile the Federal govt could spend and fund all states fully eliminating the need for states to cut funding or having to entice businesses to come in with tax break incentives. The Federal govt does not need to increase taxes in order to spend. ALL Govt spending is done by creating US dollars on a keyboard, this is not something that is just being done recently, this is how it has ALWAYS been done. People think that we somehow just started to print money since the pandemic started, that is wrong and a misunderstanding. If you don't understand inflation, ASK! The implication I get from you is that somehow printing money causes inflation, no it doesn't and no that isn't the cause of the inflation right now.

    • @Boe Jiden No, it belongs.

    • @seigeengine you're just jamming fascist into things where they don't belong.

    • We've all heard the generic "corporations are our true masters, so all we can do is gag on their dicks" speech of the fascist corporate parasites.

  • “This is about tyranny” I agree. Kill every Republican.

  • can i defect if i dont leave? im too poor to leave and since I have felonies I was convicted of I am innocent of I cant leave....so would I be defecting unto myself IM serious

    • until then. Im going to sleep. goodnight

    • I think the united states of america needs an intervention lead by the devil and god teaming up just to make sure everyone listens

    • Im so confused , ....I really really am confused...guess, someday It will be clear,....As in there will be A big fire to one side of me, and a beautiful body of waste water on the other side ...AND i will just sit there until Im dead..

    • oh i see grow up...Im on strike then? until I grow UP. a perpetual child of god...I dont want to be a toys r us kid,, BUILD ME A BRIDGE INSTEAD, for a car I cant afford to drive.since you know they pollute

  • Trump said it best " America doesn't pay. We never pay". So we actually live on bagging the banks for IOU's to pay back with IOU's. A county that never pays, borrowing from a central banking system that never pays. Brilliant relationship as long as you make the bank fulfill their IOU's first. America could also create there own currency of prommisary notes and pay the banks back. The worse that could happen is someone steps up to the international market with real money backed by real value. That's game over for both crooks. The one lending money they don't have and the one spending money that they didn't get. A brilliant con game. A legal contract must have value to make it legal. A promise of future value such as a prommisary note is not value and voids all contracts entered with a prommisary note to pay real value, at an undesignated time in the future. But who cares? It's what we've always done and no courts are going to put their livelihood on the line to cross that line. It would take an A.I computer to figure it all out. Bottomline is that it's the banks that untimately have to pay. The have to cover their promissary notes, before asking for payback and interest. Russia and China recently challenged our currency system and it failed. It has no actual value. I imagine any country could have been great with that line of credit and no intentions of paying it back. Too bad America couldn't manage it properly and made so many dumb decisions. The world bought into it. We just used the fake line of credit, for all the wrong reasons and took it for granted. Now the cat is out of the bag. The whole intelligent world knew but America held the big guns. That's obviously no longer the case. The scam is that the promissary notes were based on the credit of the borrower, America. They never pay. Americas credit was based on the labor of the citizens. 28 trillion in debt to a banking system that loaned us nothing but a promise to give us a loan, but never fulfilled that promise. In essence it's the banks that are in debt to us for a loan they never loaned. They only promised to give us a loan, but never fulfilled that promise. Now they want us to pay them back what they promised to pay us upfront? Are they kidding? Or are we really that mathematically ignorant? If so then we don't qualify to be more than human slaves that don't understand how money works and how it should work. China and Russia understand fully. If Biden knows he also knows what he has to do to fix it and pay Russia and China back too. I don't think he has a clue or the courage. Maybe he does. Let's hope so.

    • @Clue Less You, because you keep attacking a strawman.

    • @Clue Less Also, you're being seriously misleading yet again. The vast majority of that, some $97T+ is non-marketable debt transactions within the government... government account securities... that are essentially the accrued surplus of various trust funds.

    • @Clue Less Stop cramming a bunch of insulting BS into your comments.

    • @seigeengine How about taking a moment to relax and stop worrying about things that we don't need to worry about?

    • @Clue Less Can you stop spewing equally daft BS?

  • Can you do a whole show on the repurchasing market? (AKA the Repo market.)

  • You do realize that if you were to look at this objectively you’d see regardless of party of color they are all the same and all they do is divide and conquer.

    • @seigeengine also you don’t need to be racist to make your point.

    • You do realize that if you were to look at this objectively, this narrative islandinsanity is pushing only serves to drive moderates out of politics, leaving only the most extreme voices to dominate.

  • Elon musk is a hero

  • Isn't this John Oliver guy British? How did all this happen?

  • I. NEED. THAT. NICHOLAS. CAGE. PILLOW. 0 _ 0

  • I'm no debt expert. But jesus christ, when our government took debt to bring stimulus to the battle the effects of covid, the right-wing opposition was crying that it was immoral.and wrong while whining that we need to save the businesses. You're damned if you don't, you damned if you do.

    • The moral of the story is that the American right are evil and need to be eliminated.

  • 1. Worse poem I've heard all decade. 2. I thought Clinton created a surplus During his naughty years.

  • What a propaganda and just lie. But funny. This is most funny propaganda, probably

    • But, ops, by john's definition of racism john is racist. Racist to asians, slavs (&& all eastern europeans), whites and, unbelievably, to black people

  • most of ouer grand children will not find chelter from global warming annyway.

  • Stop the space program for a year and tax the other worthless rockets going into the sky currently. Fucking national leaders don't even know how to budget. New 0s get calculated every tick of the clock how the fuck we in debt?

    • you missspelled "Defense budget" if the US evne curbed their defense by as lil as 1-2% and placed that value in their intenral strcuture it could swing the living standard for its citizens in a massive way. but they dont, because there is no profit ot be made in the short term by donig that.

  • 😂

  • What the Hell🔥🔥🔥

  • You Americans need to learn modern monetary theory. You have a sovereign currency.

  • To be fair, the idea that foreign investors can end up destabilizing a country that's indebted to them isn't that far off. If you look at Greece, the country was strongarmed into taking out MORE loans by the EU, so they could pay off debts they had made with international banks. Once they had doubled down on their debt they were then forced to take sweeping austerity measures or be kicked from the Eurozone Maybe the Greek government had been "living above their standard" for a decade or two, but there was no hesitation on the part of the banks to give money to a country that was perhaps not making the most sound financial decisions. Imagine if you went to the bank and said "hey I have no job, but could you give me enough money to buy a house". There might not be any country with a big enough stick to go after the US, but Greece most certainly got its kneecaps busted

    • I mean, the issue there is not only gross mismanagement, but Greece having basically no power in that relationship. Greece doesn't control the euro, so they can't just devalue their currency to pay off debts. The USA can, not that it would need to, because, again, the USA is not even close to a situation where they are actually unable to pay the interest on their debts.

  • its called taxes...maybe if your corporations paid them, then the American budget might be a little less lopsided

    • Unfortunately, half the country has decided to spend their lives sucking off the rich.

  • Hahahahahahahahahahaha 50 thounsand that's peanuts the neo liberals here in mexico leave us a gift of 270 thousand in debt for each one

    • @Juan Lopez Googling that sure as fuck didn't tell me where you magicked up $34T in debt.

    • @seigeengine yeah you dont know about a little thing they shove right down our ass about 20 years ago called fobaproa

    • Weird, looks like Mexico's debt per capita is $5500.

  • We all know what HBO tries to push. But you are a fool to think one political party is better than the other, they are both corrupt.

    • Here's a lesson to you. If someone is pushing a "both sides" narrative, what they're really doing is trying to convince normal moderate individuals to disengage with politics, leaving only the more extreme political voices. Ask yourself why they would want that.

  • Awe money a completly made up concept by humans that is literally destroying us.

  • 21:05 I like how the urn shows John as dead 6 days before this episode was uploaded

  • US$1T wasted in Afghanistan

  • It doesn't matter what the Democrats or Republicans say.....we're never going to get out from under this problem.

    • I mean... US debt has been stable at around 2% of GDP since around 2000. Between 1980-2000 it was as high as 4%.

  • The careless division macropharmacologically serve because storm prominently connect to a nappy plot. lying, yummy comic

  • At least Americans will forever be a source of amazement, when I think people cannot turned to be or do something more stupid than the current times, Americans are always there to prove me wrong.

  • Replace "national debt" with "climate crisis" and those weird ads start to make a little more sense. If only they cared as much about the climate as they seem to care about the debt

  • The us pays 403billion a year in interest with the number rising fast. Imagine what could be done with that amount of money.

    • Interest spending has been stable at around 2% of GDP since 2000~, was as high as 4% between 1980-2020, and was around 1.5% between 1920-1980.

  • Noticed how John Oliver couldn't point to anything we got for this debt in this 22:00 minute video as you would think we would to make his case

    • @Nathan Young so you admitted that you are too stupid and biased to understand anything this video said, Sad!

    • @seigeengine well I did notice you couldn't answer my question and your deflection is noted.....nice genius....Biden level dumb!

    • @seigeengine Yeah, that actually would be a good thing, the repbulican party doesnt content with the democrats, Bush and Trump won with the minority vote, maybe something more to the left of the democrats may be good, or even if the republicans just were less extreme, although I dont think that will happen, seems like they are just getting crazier and crazier over time. Also, responding the original commentor, yes John Oliver did point to things that we have spent our debt on, things like medicare and medicade, and then some useless stuff, like the whole crime on terror stuff by Bush that put us into a ton of debt, so I assume you didnt actually absorb the information in the video, you just wanted to complain about something.

    • @Nathan Young It is almost entirely Republican's fault, yes. I wish the USA had a decent major political party to contest the Democrats, but it doesn't. It's politicians on the left vs traitorous fascists and parasites on the right.

    • @seigeengine yes you've figured it out everything is Republicans' fault....talk about naive dumb and low information!

  • So John Oliver argues steering the ship blind is a good thing?

    • Right? With inflation going crazy, this video did not age well

  • "A state with a permanently broader and deeper reach across the economy creates some opportunities. Low rates make it cheaper for the government to borrow to build new infrastructure, from research labs to electricity grids, that will boost growth and tackle threats such as pandemics and climate change. As societies age, rising spending on health and pensions is inevitable-if the resulting deficits help provide a necessary stimulus to the economy, all the more reason to embrace them." -From the Economist

  • Lol none of these people complained about the deficit from 2016-2020...strange huh

    • @Nathan Young What? you typed something into Google and found results? No way!

    • @seigeengine Thats total bullshit I just googled "complaining Trump deficit spending and was inundated.

    • @Nathan Young Very true. There was practically zero significant outcry about the $1.6T a year deficits under Trump.

    • not true but okay!

  • why are they focusing on the debt from China, when it's a very small fraction of the national debt 🤔

  • thank you john, for helping clear up that fact that china is not responsible for all of the problems in the united states, we did not create covid, we did not try and bleed your country and we did not send over SiMu Liu to kick tom cruise out of his job ad the worlds only maniacal stunt-actor

  • Always amazed that people with Green Cards tell US Citizens go ahead and borrow trillions more..the Green Card Holders wont have to pay for trillions of debt when they move back home after they spent our money...PARTY ON GARTH!

    • You are aware Oliver is an American citizen right?

  • Can you imagine how this segment would of played out if Trump was in the WH. The reason the US is functioning is because of the reserve currency status that it has. Once it loses that which could be in the next 5 years. The US will face a debt crisis. Funny how he misses that point. In fact watching this drivel shows everything that is wrong about the US. Its like a scene from the movie the Running Man or some Russian propaganda.

  • I did not hear those concerns about the deficit when Donald Trump was cutting taxes for the rich.

  • If the faith in the $ decreases and all those who got US-issued federal bonds will start selling them en-masse, it will trigger an interesting chain reaction.

  • Google and Apple need to be divided with anti trust laws, as big banking and oil were years ago, to empower us, the American consumer. Our rights don't come from a corp charter or a legal doc from 200 years ago, they come naturally and these few companies have become victims of there own successes. They must be broken up into smaller competing firms. Write your ✍️ congressman!!

  • I liked your episode but don't make this kids swear at the end. That's not right.

  • Imagine if The USA spent as much money on their own people instead of the Iraq and Afhgan wars.

  • AND OLIVER basically States that Being a Whore is OK?? Don’t let people Judge You?? And Economically agree with the guy who said “Spending Money just to give it to people is bad.” WHICH IS THE WHOLE DEFINITION of Socialists which he Loves.

  • “A Socialist who Hates Capitalism Explaining Economics To You.” THERE, I Fixed this Title. John Oliver. Shut The HELL Up.

    • Right? With inflation going crazy, this video did not age well

  • If ppl are taxed huge then tendency to work huge and earn huge just is not rewarding and they won't work.. if what we earn Is paid to taxes then what is point in earning huge.

    • @seigeengine No not false it's truth, I am not preacher of communism or dictatorship. The Americans don't acknowledge the truth.

    • @Sachin shenoy False and deranged.

    • @seigeengine US has just fooled it's citizen to pay huge taxes no doubt, if you think war on terror and Iraq, Vietnam korean war are all social welfare benefits then friend I think we are done here.

    • @seigeengine To fund social benefits Govt collects enormous wealth in form of sale of natural resources. Saudi doesn't collect taxes but it funds social benefits far more better than the western countries. USA has enormous shale oil why doesn't Govt fund by selling it ?

    • The problem with that idea is you're ignoring that costs don't disappear if you're not paying them to the government. You may not be paying the government for public healthcare, but you still require healthcare, and, on average, Americans end up spending twice as much for a fraction the health care people in basically every other developed country get. That is to say, the average American could spend less and get more if they paid for healthcare via tax instead of personally. That's why people in countries with higher taxes and more social services aren't butthurt about it. They pay more, but they get more, and the net effect is that having these systems benefits society as a whole.

  • Simple economics, reducing interest rate increases value of asset which in turn creats huge inflation. Yes earn 5 to pay 3 is fine but inflation will eat up 2

  • If the money is used for infrastructure then when the bill comes due the money will be cheaper and the economy bigger. That part does make it easier, the fact that the money will inflate but when pushed to far you can crash the economy pretty quick

    • @seigeengine Of course not. They need to inflate it a little more but in a smart way.

    • Sure, but does the alternative produce results? Does responding to high debt with austerity measures instead of investing in growth and maintenance of your infrastructure lead to a better outcome? Doesn't look to me like it does.

  • Isn't the US in a unique position because the USD is a global currency?

    • yes and no yes in the sense that its backed by basically everyone that wishes ot Trade with the US, which is most other nations. but also no in the sense that this is only possible because there is actual value to be traded for, if this stops, faith ni the currency just stops. hence the unique position the US is in is the fact that their currency can become worthless for factors that are out of their control.

  • AMC to the moon 🚀🚀🚀🚀🚀🚀💎🤲🏽🦍

  • Biggest Lie of all time. Give the rich tax breaks and they will create jobs. No, they will find ways of hiding the money. Same with corporations. Let the military manufacturers find their own investments, not my tax money.

    • the absolute worst scenaio is giving the rich these tax break in hope they create more jobs out of it . and they do...but these jobs are for another country. stuff liek this is why the economy in US seems ot be so assbackwards.

    • Which is why we shouldn't be going into debt giving the rich tax breaks, but, rather, doing actually useful things for ordinary people with the money.

  • Uber is a terrible example.... Uber does not make money at all, its a scam. It only continues because it keeps getting new investment. The purpose of uber is to destroy and replace the taxi industry and get rid of regulations and unions that way. After that is done, they would price it like taxis do....

    • @seigeenginehow about you inform yourself a bit, before insulting others?

    • @Sultschiem I'm aware uber isn't profitable. The issue is that that doesn't require some giant conspiracy. You've just added one in because... you're an idiot I guess?

    • @seigeengine its not a conspiracy at all. Find out ubers business model and if its profitable.

    • Yeah... that seems like a lot of conspiracy for something I don't buy any motive for.

  • The fact that John Oliver said 'I don't know' why we are seeing low interest makes this clip totally useless

    • Its basically because nobody does. The thinking for ever was that debt too big would mean the economy would be flooded with cash that would devalue the dollar and force interest rates into the double digits. But the exact opposite of every fiscal conservative idea has happened.

  • Currency colapse is slow motion these days, go do your show in latin america,. and 7 percent on mortgage rates. its not racism its just open border euro doctrine. we're fucked so you should be 2. sod resposible measurement hey mate. get me a sheila and a talk show. couldnt make them liberal either. John Oliver on the sceen explaining argetinas13 default like its candy.

  • Sorry I fell asleep.. what did I miss?

  • God these republicans are like the plague. The more you know the more frightening they are. Why are you freaking keep voting them?

  • The economist is telling American to borrow money for going into war?

  • cool. now do the same thing with climate change.

  • Reminder that if Gore had taken the office he won in 2000, the Iraq invasion would never happen and the national debt would be completely paid off by now instead of approaching 30 Trillion.

  • *THE RICH SEES AN ECONOMIC CRISIS AS A GARAGE SALE ALSO THE RICH STAYS RICH BY INVESTING AND DIVERSIFYING THEIR PORTFOLIO WITH STOCKS, CRYPTO CURRENCY AND FOREX TRADING WHICH IS THE WISEST THING EVERY INDIVIDUAL NEEDS TO DO AND IT'S REAL PROFITING*

    • am so happy with Mrs Dean kirsty.

    • Hello am from UK Dean kirsty a woman of integrity, with $6,000 she makes profit of $44,000 she great,

    • She is not like other brokers that will start telling you stories and excuses why they trade didn't go well after collecting your money, doubted it too before until I gave it a try...and it was of no regret.

    • She has made success easier than we thought,

    • I'm not here to converse for her but to testify just for what I'm sure of,,

  • Typical 1st world problem

  • But debt is a problem

  • no

  • I always try to listen to both sides, but I just physically can't when Sarah Palin is talking

  • A video about the National Debt, that has nothing to do with personal debt: exists. Spambots: It's free real estate.

  • No one knows why interest rates are low? How? Money is all a man-made game; someone has to be making the rules. It’s not like an economy is some sentient being that just does what it wants while we observe in bewilderment “oh no, it’s inflating!” Some humans are consciously controlling the interest rates.

    • @seigeengine tone is hard to read over text, but it’s more than a small stretch to take my bemused and slightly sarcastic comment as arrogant or aggressive. You’re a bit of a prat; it’s cool. Not everyone is a pleasant human. Take pride in knowing the ins and outs of the man-made system to which we are all beholden and which is dooming our entire planet.

    • @Katelynne Hansen I was pointing out a common shared human fallibility, not insinuating an abnormal social deficit. If you don't want arrogance and aggression, perhaps you shouldn't come across as arrogant and aggressive when expressing ideas about subjects you even admit you know nothing about. You were not simply asking; you were making claims and arrogantly dismissing things said by others. If you want me to be compassionate and respectful, you need to warrant it. You do not inherently deserve these things regardless of your behaviour, and I have already shown you the kindness of explaining the matter to you.

    • @seigeengine 😂 I’m the one that struggles with social interactions? I was legitimately asking a question because I didn’t get it (economics are one of the few subjects I’ve never understood or been interested in) and you actually have a really good answer. Are you incapable of toning down your aggression or arrogance? Because I highly doubt that it’s ever benefited your interactions.

    • Yes, because understanding the aggregate behaviour of eight billion humans is hard. So is social interaction, but I bet you've had plenty of failures there too. Again, no. The problem is that there are a huge numbers of entities that are all acting in the market, and we're just looking at specific aggregate results. Interest rates can be manipulated lower, but only to so much of an extent. The core of this issue is that interest rates are repayment on that debt sold. The higher the rate, the more profitable owning the debt is. You can lower the rates, but only until people stop deciding to purchase the debt. If people stop buying, you'd increase interest rates to incentivize them to purchase that debt, but if people no longer trust in good repayment, they might not buy regardless of the rates. So the question is essentially "why are people still buying debt when the return is so persistently low?" And the answer is "we don't really know," because knowing why massive numbers of people do things is hard. A single human is a monstrously complex machine on it's own.

  • heres the thing, if you want your money to have value, you have to act as though it has value and that means repaying money you owe to other people.

    • ... Do you just not understand how the US debt works, or...?

  • Republicans love their propaganda

  • Just a quick anecdote about Obama. He killed US citizens without due process. You know, just like Putin has tired to do.

    • just a quick fact, nobody liked obama except for how he looked, man was hot but rather immoral.

    • He ordered an airstrike on an Al-Qaeda leader in Yemen who was also an American citizen, yes.

  • This video seems to take the opposite position of republicans basically thinking "DEBT GOOD" and ends up coming off just as dumb and uninformed

    • It does not, meaning you just come across as a loser who couldn't be bothered to pay attention.

  • Its not a good investment when the government has to pay almost half a trillion dollars a year servicing the interest on the debt. This is money that could be used to pay for affordable healthcare or investing in green energy.

    • Just create the money you need for healthcare or green energy it is likely to have positive economic impact that will increase productivity, economic growth and increase tax collections. So worrying about servicing a debt is pointless, in fact paying back that debt requires taxing money out of the economy thus you decrease the money supply in the economy for spending on affordable healthcare and green energy.

    • @seigeengine they did - your sincerely an economics MSc

    • You can't be stupid enough to think you just made a decent point.

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  • So let me get this straight... Our government spends crazy money they don't have... They borrow some of what they don't have from "American investors" aka corporations... Paying them back at interest from money they get from the taxpayer... And then most of the money in the spending bill goes back into the corporations pockets anyway because what does the government spend it on? So... Basically it's a gangbang 3way and every dick belongs to a corporation and the one getting fucked is the taxpayer? Ok. Thanks this really helped me understand things better

    • @seigeengine Right. But on the one hand, John is trying to explain to all of us like we are 5-year-olds how debt isn't something to be concerned about and is actually a good thing in some ways, and how more spending is the key to a better future, but on the other hand, everything he's telling me and explaining to me just proves exactly what he's trying to persuade you against. It's a giant false antithesis.

    • The key is that "goes back into the corporations pockets anyway" part. If you don't do that, the money can go to fund things that lead to real growth, increased prosperity, etc. That growth then leads to more tax revenue that funds those debt obligations. The key then is to figure out which politicians are doing what, why, and what the effects of that are in reality. The government isn't a monolith. Politicians are not all the same. Don't get propagandized into apathy.

  • This is my real News.

  • Considering how often John Oliver talks about important programs being underfunded, this may be the most ironic segment he's ever run.

  • Oh believe me America will weep tears of blood once it's debts are called in and the dollar goes down the tubes. Both parties bankrupted the us. Now THERE'S something Americans can be bipartisan about. A pox on both houses.

    • Real shame you can't "call in" these kinds of debts. But I guess we shouldn't expect you to know shit.

  • Making fun of virtue... NOW I remember why I stopped watching this moron.

  • I'm not saying I disagree or that anything's wrong with this opinion. All I'm saying is it's a little biased and simplified. Dumbed down, I daresay. Sounds a wee bit like Russian media explaining things. I would know. I'm Russian.

    • Not surprising. US liberal/democrats are basically communists. Russian communists.

  • 'Mama, why doesn't America have any broadband internet, unleaded water, roads, or hospitals' 'Ah hunny, cause America wisely decided not to put YOU in debt by borrowing money for critical infrastructure, you're welcome' 'Is that why America is decades behind the developed world?' 'I SAID... YOU ARE WELCOME'

  • The crisis of Greece was one of the BANKS. Also at that time our (BANKS) national debt was 250 billion. Billion. Greece was No1 in the world in home ownership and we were allready working above the 8 hour/day cap. The difference is that we are a small country and we dont steal or attack other nations so no one is afraid of us. Most countries inthe world are like Greece and not like USA. That's a bullshit analysis you got here. For example the bonds you are so fond of have 0 value if your "investors" ask the money.. We also have bonds and guess what.. My microwave has more value than those now, they mean nothing. No one will ask money of USA though will they? You bombed for way less than that.. You bombed for no reason actually. Imagine if.. Stop bullshiting the people. All empires eventually fall. You will be no exception. You are the laughingstock of all other nations, stop making idiots of your citizens.

  • Biggest lesson: modern Republicans loooooove cutting the budget just before going to war... so that they can make maximum profits when using our military--and its ever rising budget--to exploit volatile tensions in vulnerable countries