NOBODY KNOWS WHICH COUNTRY DID THE FINANCIAL CRISIS, DO NOT LOOK INTO IT. Check out part 2: kzread.info/dash/bejne/mHismNCoXZquiqg.html

@pvzpokra8602

7 ай бұрын

why not?

@illhaveawtrplz

7 ай бұрын

bc nobody knows@@pvzpokra8602​

@jacktattersall9457

7 ай бұрын

It was the USA's fault.

@friggasring

7 ай бұрын

Rollie, love you my dude, but technically, Obama was voted into office in 2008 but he wouldn't have been sworn in until 2009. Unless I'm being overly pedantic... critical?... picky? Probably picky over a comment that's likely a joke as it also includes calling Michael Phelps a fish. I need to rethink my life choices...

@allanjmcpherson

7 ай бұрын

Letting Matt out of that contract was awfully magnanimous of you. Rollie Williams: officially less evil than Morgan Stanley!

it's even worse because everytime the city has to block off parkingspaces for any reason, they have to compensate stanley morgan for the lost revenue. so they are actively losing money on this horrible deal

@Vykk_Draygo

7 ай бұрын

You mean losing MORE money. Taking the deal in the first place was, apparently, an active loss.

@chitlitlah

7 ай бұрын

@@Vykk_Draygo Nah, that's a passive loss. They don't really have to do anything to lose it. If they block off parking spaces, they're actively participating in those further losses.

@JohnDBlue

7 ай бұрын

Blimey. You'd think they'd have written a contract that explicitly says they don't have to pay those compensation, what with it being pretty damn obvious that would happen to some of the parking spaces just due to normal operation of a city.

@gregsquires6201

7 ай бұрын

​@@JohnDBlueYou make a good point, but how about I contribute 1 million to your re-election campaign. How does the contract sound now?

@_PatrickO

7 ай бұрын

@@chitlitlah This is an active loss. The deal was designed to give public money away to morgan stanely. Parking meter money is public money which now goes to a private company.

This explains why Matt is always so well lit. In person, you don't even notice the crew.

@ClimateTown

7 ай бұрын

Every time we cut between their footage and our footage, I was like "I gotta get a bounce-board"

@ClipsNSnips

7 ай бұрын

@@ClimateTown You guys did a great job on this collab 😁 Great melding of your styles 👍

@dreck8202

7 ай бұрын

​@@ClimateTown hey I like the "person running through downtown American cities" style! It feels like I'm being led on a chaotic field trip by a professor

@klaxoncow

5 ай бұрын

@@ClimateTown You didn't do the maths on how much illumination was required. You should have done a spreadsheet.

As someone who does financial calculations daily the phrase “the discount rate that we, I dunno, kind of made up” resonates with me too much

@jurjenbos228

7 ай бұрын

You must feel a little guilty then.

@angryparrot

7 ай бұрын

As somebody else that does financial calculations daily, I agree. Making things up is a sound methodology. We call it "expert judgment".

@jackgarn8392

7 ай бұрын

@@angryparrot it’s a question of being qualified to guess well enough

@kenshaw000

5 ай бұрын

I had a grad school finance professor who said accounting has CPA, GAAP, etc.. Finance has MCU… make crap up.

@Kinoko314

5 ай бұрын

@@jackgarn8392 That's just what people tell themselves.

You are so pure of heart to chalk this story up as a "math error" where a more cynical commentator may term it "corruption."

@kylezo

7 ай бұрын

and the precise, neutral label would simply be "capitalism".

@NoWay-xx2kh

7 ай бұрын

​@@kylezoif by "precise" and "neutral" you mean "grossly oversimplified" and "clearly biased".

@kylezo

7 ай бұрын

@@NoWay-xx2kh what you've said makes no sense. In what world is an economic model more biased than the term "corruption"? In what world is it more oversimplified???? This is pure stupidity. Say more!!

@NoWay-xx2kh

7 ай бұрын

@@kylezo the parties involved are blatantly ignoring the profit motive, if the aldermen of Chicago were rational agents following a profit motive, i.e. "capitalists", they obviously would not have taken this deal. In fact, they would have done a *better job* representing the constituency if they had been *more* "capitalist", not less. The "pure stupidity" is blaming the corrupt actions of government officials on the economic system that has absolutely nothing to do with the issue. Politicians are incentivized to defraud their constituents under every economic system, it doesn't matter whether you're in Chicago or Venezuela. The issue is not the economic model, Morgan-Stanley isn't the "bad guy", the malicious and myopic aldermen of Chicago are the bad guys and they haven't acted in any way consistent with maximizing profits and minimizing losses. They left billions of dollars on the table for the opposing party to lap up, they agreed to burdensome and costly terms, and they afforded themselves no exit strategy. That ain't "capitalism" my friend, that's abuse of official power. A real "capitalist" Chicago would have spent years studying market conditions and seeking out competing bids, not 2 days barely skimming the only offer they got. None of this is Morgan-Stanley's fault. If the city of Chicago had acted in a way to maximize their own profits then this terrible deal never would have gone through. Blame the *people* who voted "yes" without thoroughly understanding the deal, not the economic system or the opposing party who merely sought to maximize the value of the deal. If *both sides* had sought to maximize the value they received from the deal (again, aka "capitalism"), it would have been much *more* fair, not less.

@cleonanderson1722

7 ай бұрын

@@NoWay-xx2kh Go on, please.

It really is outrageous that the mayor could do such a thing. Its civil sabotage of the highest order, the city would have been better off taking a damn loan

@ryanreedgibson

7 ай бұрын

It was the city council members. Someone should do a background check on each one who voted for it along with their linear decedents. I bet there was corruption involved and that could nullify the deal!

@Ceelvain

7 ай бұрын

@@ryanreedgibson I'd like to have a lawyer opinion on that.

@theondono

7 ай бұрын

I think you’re missing the point that Chicago did this *because no one would give them a loan*. Governments always tend to sell stuff way under market price, because: 1- They are market averse, using anything even close to a market to determine the real price is suspect in the eyes of voters (even if it would likely mean more money). 2- No one has any incentive to calculate the appropriate price. 3- The actual incentives are completely backwards. For the any administration money *NOW* is worth infinitely more than money in 10 years, because most administrations don’t last that long.

@Mr0Whitey

7 ай бұрын

about 7x better

@xathridtech727

7 ай бұрын

​@@ryanreedgibsonI'm not sure about the nullified part but I know it's hard to prove corruption in the United states because corrupt people are in charge of laws. The other thing is they said the counsel had 3 days. Nothing in government starts and ends in 3 days.

It baffles me that the government is even allowed to make deals like these. Any deal more than 10 years should be illegal. Or at least, there should be a mandatory clause to completely revisit the numbers every few years.

@rafaravioli

7 ай бұрын

Absolutely. A law with financial obligations like this should require regular "renewal" votes.

@jimmypatton4982

7 ай бұрын

Some businesses just are never profitable in 10 years. I would be down for enforcing golden handcuffs for every deal. Something like at anytime if the future government decides to undo a deal then they can pay the money given to the government and cost of developments on the property

@grantcivyt

7 ай бұрын

@@jimmypatton4982 That's a recipe for dramatically raising the cost of those deals for governments. Who would enter into a contract with the city if they took all the risk of establishing a functioning enterprise only to have the city turn around and pay them only costs without even compensating for future revenues and the prior RISK of failure. If I buy a plot land from the city for 100 million and spend another 50 million developing it only to see it all fail, is the city going to buy it from me for $150M? Of course not. But if I succeed and ten years later it's generating tens of millions annually and growing, then the city can just pay me back $150M (which is worth less than what I paid because of inflation) to take over an established profitable business. This is armchair governance at its best.

@bertilhatt

7 ай бұрын

The big miss here is that, if the government had intervened, we could finally have known what the administrative equivalent to “What you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.” is.

@maxaslagolis

7 ай бұрын

1000% agreed, no politician should be able to tie the hands of their successors or years and years to come

I feel like the big picture issue here is that politicians almost always have incentives to trade away future benefits for immediate gain. This is why the voters often have to approve bond issues. Seems to me the solution here is to require similar approval for selling off future income streams.

@kylezo

7 ай бұрын

well we can't start getting into whether the system is actually democratic or not, otherwise we will have to start critiquing capitalist corruption of democratic systems which will lead us straight into socialism and thereby communism which, while better for literally all people, is definitely super evil.

@aceman0000099

7 ай бұрын

Or give voters more power to end decades long contracts

@Zyphent

7 ай бұрын

​@@aceman0000099The fact that there's no political mechanism for an exit seems WILD. Even the most locked in laws in Washington have methods for being amended or overturned. Seems undemocratic to let one politician at a point in time lock GENERATIONS of people into an agreement like this.

@petergerdes1094

7 ай бұрын

@@aceman0000099 Thats not possible given the contracts clause in the us constitution. I don't know how I feel about that (it has some upsides like not letting states revoke employee pensions) but in practice it's not something that can be changed.

@petergerdes1094

7 ай бұрын

@@Zyphent Yah, but that's kinda what we are locked into with the contracts clause in the constitution under long time SCOTUS precedent.

For those non-bird nerds here, the patriotic bird shown for Matt was a Laughing Kookaburra, and the picture was directly taken from the cover of the Australia Expansion of the game Wingspan, and I just need to make sure y’all know how much I appreciated that little cameo from the game!

@hieronymusbutts7349

7 ай бұрын

How much would you recommend the game? I got it, got really annoyed by the tutorial and never followed up on it again.

@Stadt713

6 ай бұрын

Having only played the base board game without expansions I thought it was great! If you like engine building games or can appreciate pretty birds it's dope

@daniel6678

6 ай бұрын

@@hieronymusbutts7349The game itself is a blast - highly recommend - but learning the game led my family to a huge argument because the tutorial was so bad that we couldn’t figure it out lmao. The game itself isn’t even that complicated! I don’t know why the tutorial is written SO badly

@mrjadexxxxxxx

5 ай бұрын

​@@hieronymusbutts7349 We have conservatively, $2,000 worth of board games. It is my favorite game of all time.

@KnakuanaRka

4 ай бұрын

@@hieronymusbutts7349I’ve had plenty of fun with both the physical and Steam versions. If you’re a fan of engine-building board games or interested in birds/ecology, I’d absolutely go for it. The Steam version recently released the Oceania expansion after way too long, and I love its presentation and atmosphere.

I love that Rollie, the American he is, made Matt seem like a visitor to his own channel

@bertilhatt

7 ай бұрын

That's what you get by speaking louder

@vigilantcosmicpenguin8721

7 ай бұрын

YEAH!!! [Rollie puts on sunglasses] [Energetic riff plays]

@krissp8712

7 ай бұрын

Michael Parkenberger, I can't even 😂

@chocomalk

6 ай бұрын

Well he kind of was a visitor.

@Chicanery_Artifice

6 ай бұрын

@@chocomalk not to his own channel. read the full sentence next time.

I lived in Chicago when this happened and it was pretty much considered an outrageously terrible thing by everyone I knew who talked about it.

@InXLsisDeo

7 ай бұрын

There should be a class action against the city council. It would lead to investigations on corruption and if corruption is proven, it would nullify the contract. Given the cost of the deal for the city, it's worth it.

@Kirbychu1

7 ай бұрын

Though by being such a spectacular failure, it at least makes a great historical example for other cities to learn from. Hopefully none of them ever try to pull a stunt like this, or at least negotiate much better terms

@EkiToji

7 ай бұрын

There's one thing worse than qualified immunity that SCOTUS pretty much invented during the Civil Rights Movements. That thing worse is sovereign immunity but at least it goes all the way back to English common law. There's pretty much no hope in trying to prove they acted in bad faith and incompetence is a perfectly valid reason for them to have done what they did and suffer no repercussions. Really I think their best hope to invalidate the contract would be if they drastically changed their downtown core to try reducing car traffic and then argued in court that the contract as it stands is against public policy and the public good. @@InXLsisDeo

@k53847

7 ай бұрын

Not by Mayor Daley and the Daleyville city council. Oh, and who hired Mayor Daley after he left office?

@brianrisselada5430

7 ай бұрын

@@Kirbychu1 don't plan on anyone learning from it. The people who made the decisions got what they wanted out of it. They didn't care about the rest of us.

The problem with money now vs. later is aggraveted when politicians have to decide the question who could use the money now for their projects (and make themselves look good) vs. leaving it to who knows who will be in charge later.

@weir9996

5 ай бұрын

But most large governments could always have the money now, they'd just need to borrow the money rather than selling stuff

The cut at 3:50 is so perfect, i actually lost it and started crying. I did not expect the crew to be there also acting confused by Rollie suddenly walking away

I doubt they actually screwed up the math of the meters. They did the math of how much Morgan Stanley paid to the politicians in campaign contributions versus how much it would cost to run a campaign that distracted people from that problem. They also did the math of how much they would personally get paid by lobbyists when they leave politics and the fact that the financial problems would be a problem for politicians in the future who weren't them. They did the math correctly.

@VeteranVandal

7 ай бұрын

The only incorrect math is in the document trying to justify the deal, since government doesn't take any risk since it can print money. But gotta make it look like a Rubik's cube to make it look like a neoliberal dream must be true.

@sahitdodda5046

7 ай бұрын

@@VeteranVandal MMT is controversial and not universally agreed on, but even if you do, that only applies to the federal government. City governments borrow and are unable to print their own money

@madbritishbelizian

7 ай бұрын

The other factor to consider would be any legal responsibility to balance the annual budget and provide statutory services. Very often municipal and local governments have little to no choice but to settle for a 'money now' option because they have a short term responsibilities that legally must be met, long term be damned. The 70 year outlook doesn't matter if you have to balance the books this year.

@jbird4478

7 ай бұрын

Yes, that seems like a much more plausible scenario. Also, the people of Chigaco should revolt against this. Basically selling your city off for 75 years is not in any way a reasonable option, and the contract should by some means be cancelled.

@paulkennedy8701

7 ай бұрын

​@@VeteranVandal This is about the City of Chicago. City councils can't print money.

I have never noticed just how dynamic and patriotic Climate Town's editing and presentation style is before having it so clearly juxtaposed with Matt's swipey, french style.

@rainbowllamas7423

7 ай бұрын

french

@bgdu93

7 ай бұрын

@@rainbowllamas7423 fr*nch 🤮 FTFY (i'm french pls no h8)

@philp4684

7 ай бұрын

"Edit me like one of your French girls."

@PhotonBeast

7 ай бұрын

@@philp4684 Take all the thumbs up, your damn dirty ape!

@appa609

7 ай бұрын

I like Matt's style...

The City of Chicago needs to go to court and get this clearly burdensome contract terminated. Matt is being extremely generous by chalking this up to a "math error", to me it smacks of obvious corruption. Would love to see a record of who took whom to fancy dinners in the period between the beginning of the mortgage-backed securities crisis and the initiation of this deal.

@Huntswick

5 ай бұрын

I completely agree. This needs to be reviewed. The people shouldnt be suffering so much from one persons callous greed.

I never knew how much I needed Stand-up Maths Town in my life

I'm only at "through the magic of ed--magic of editing!" but I'm ready to declare this the best nerd bait video of the fiscal quarter.

@Games_and_Music

7 ай бұрын

Yeah, the suave style of failing fits well with the Parker fails. Best bait of the physical quarter indeed,

@vigilantcosmicpenguin8721

7 ай бұрын

Roping in the math nerds and the climate policy nerds in one swipe is an unprecedented business decision.

This is some of the best green-screen work I've ever seen! It really looked like you two were together in Chicago walking around.

@10Neon

6 ай бұрын

I believe they used a virtual production set, like in The Mandalorian, to make it seem like Chicago was a real place

@brightblackhole2442

6 ай бұрын

as somebody who lives in chicago and not england, i'd like to clarify that chicago is not actually an island in the middle of the atlantic ocean, and is really a city on land with inhabitants who go forward in time

Wow, I've never been more pleased with a cameo than I was when Rollie appeared in this video! Totally unexpected, but super pleased that Climate Town is already at the level to be collaborating with a channel like this one. Both of you deserve all the views

@silverandexact

7 ай бұрын

Interesting; I didn't even think of Climate Town as being a smaller channel until I read this comment. So, being the nerd I am, I looked into it. Rollie has about half of Matt's subscribers (536K subscribers vs 1.14M) after a third of the time Matt has been on KZread (joined 2018 vs 2009) and the channels get comparable view numbers, with Climate Town's being a bit higher consistently. I think both are now pretty solidly established as big names in educational KZreadrs. 😊

@FISHD0G747

7 ай бұрын

Yeah, I think at this point they’re both pretty well established. About a year ago climate town was just starting to get consistent traction, whereas Matt has been well-known across several channels for like a decade and is one of really the original KZread science/math educators. Now it’s about time for Rollie to pull a Steve Mould, and after starting to collab with Matt quickly blow up to 2M+ subs

You guys are actually a magnificent comedy duo, 10/10 hope you collab together more after this!

The effort and editing behind this is amazing. I haven't seen a collab this well performed since all of the Muppets, Fraggles and Sesame Street characters showed up at Jim Henson's Memorial Service.

@sheeperskipps

7 ай бұрын

Best way to put it

Pi being 3% is my new favorite value of Pi.

@aceman0000099

7 ай бұрын

That's just the Greek for P

@vigilantcosmicpenguin8721

7 ай бұрын

So, Matt saying "Pi has a different value in Vegas" wasn't exactly accurate, but it turns out that pi does officially have a different value in Chicago.

@hardcount5412

7 ай бұрын

I feel like the auditors just wanted to seem smart so they used pi & i in their equations

@gamer_x403

7 ай бұрын

This is one of the reasons we have naming conventions for this type of stuff.

@BadWebDiver

7 ай бұрын

Does this beat the statement Pi = 4? 🤣

The way "magic of editing" is cut wrong at 2:10 is art.

@chrisburn7178

2 ай бұрын

It's even better as it's kind of a running joke on Climate Town.

The editing, especially in the walk-along parts, is incredible- well done!

Yep, worst deal ever, and we knew it when our idiot Aldermen signed it. No one paying attention was surprised by this outcome. Thanks for covering this.

@InXLsisDeo

7 ай бұрын

didn't you notice these "idiot" Aldermen are now living in nicer mansions ?

@joeblogs6598

6 ай бұрын

Governments have no incentive to look after your money. They get paid without your consent. Good on morgan stanley for making use of these morons.

Yeah Chicago's made a lot of "math mistakes" in the past.

@needamuffin

7 ай бұрын

It's nickname the Windy City doesn't come from its weather.

@gapsule2326

7 ай бұрын

Better than swimming with the fishes.

@RFC3514

7 ай бұрын

@@gapsule2326 - Oh, swimming is fine. You just don't want to end up _sleeping_ with them.

@thomaswalsh4552

7 ай бұрын

@@RFC3514you’ve clearly never seen the Chicago river

@trevorus

7 ай бұрын

It's my money, and I want it now. Leave it to Illinois and Chicago specifically to be bought off cheap, and screw the citizens yet again.

Is it Christmas already? Or how did we deserve this epic collab? You two have the best combination of jokes and facts to deliver the most terrible stories about our society!

Awesome crossover! Been watching both these channels for a few years now, always high quality and informative.

How they took the deal without a third party analysis of the terms is staggering

@DudeWhoSaysDeez

7 ай бұрын

*bribery

@knutthompson7879

7 ай бұрын

@@DudeWhoSaysDeez it is Chicago I suppose

@SharienGaming

7 ай бұрын

there was a "third" party analysis... problem is that the third party was also working for morgan stanley... ooooooooops

@knutthompson7879

7 ай бұрын

@@SharienGaming “My accountants says it’s a good deal for you.” Yeah I bet they do.

@andrewsad1

7 ай бұрын

I can see how they took the deal without a third party. The people signing the contract get paid, and the people of Chicago are made to pay it back. What baffles me is that the people of Chicago haven't collectively banded together to destroy every parking meter in the city

The only thing that would could possibly improve a star studded collab like this is Not Just Bikes. Thank you both again for making me laugh while ruining my week

@eeaahh

7 ай бұрын

not just bikes segment would just be saying to move to the Netherlands lol

@silverandexact

7 ай бұрын

Not Just Bikes did collab with Climate Town! A 3-way collab with all of them would blow my mind, lol.

@eyesofthecervino3366

6 ай бұрын

I was just saying how funny I thought it would be if they took the money and used it to put in bicicle infrastructure so everyone could switch to bikes and nobody would need to pay for parking. Not Just Bikes has got me orange-pilled for sure 😅

It makes me very happy that two of my favorite channels coproduced out of nowhere like this. Love your stuff, Rollie and Matt!

@eugeniaamariei8626

5 ай бұрын

I guess you are a bit of a math guy?

Correction: Obama was not sworn in as pres. in 2008; he was elected. He was sworn in on Jan. 20, 2009. Fab video! Fred

@KazyEXE

5 ай бұрын

Thank you I was just about to comment this.

@TheeGrumpy

5 ай бұрын

Clearly he meant to say 2008 was when Robert Downey Jr. was sworn in as Iron Man. Also, Michael Phelps is not a fish. He's a human man.

I'm going to assume this is going to be about them selling the rights to parking meters.

@thelatestartosrs

7 ай бұрын

it has to be and it wasnt a mistake just corruption lol

@GreaverBlade

7 ай бұрын

Saw the title, made the exact same assumption.

@Rabbit-the-One

7 ай бұрын

You got it

@Cats-TM

7 ай бұрын

Yeah, as soon as I saw the title I immediately thought that...and a bunch of our other problems but those are slightly lesser.

@gordonrichardson2972

7 ай бұрын

Heard the story on Matt's podcast.

Why did Rollie's "let's cherish Matt *while we have him"* sound so ominously threatening...?

This video is amazing, the thought and care put into it are part of the reason both of this channels are some of my favorites in the entire world.

This is possibly the greatest collab in KZread history, what an amazing video. Loved seeing you with the money guns and bling glasses, really helpled me understand the percentages, maybe bring those back more in the future.

A 75 year contract seems ridiculous for just about anything. Much less for control over a large portion of the land area in a city. This has been the worst trade deal in the history of trade deals, maybe ever.

@XMysticHerox

7 ай бұрын

I am sure it was a great deal for everyone involved in making it...

@samsonsoturian6013

7 ай бұрын

Leases often last even longer. Gas companies usually lease land instead of buying because they know they won't be drilling at that location forever

@samsonsoturian6013

7 ай бұрын

City councils are sallaried.@@XMysticHerox

@spelcheak

7 ай бұрын

Something something… Hong Kong?

@vigilantcosmicpenguin8721

7 ай бұрын

@@spelcheak The unbelievable part of it is that Hong Kong's 99-year contract was specifically intended to be such a long time that it's practically forever. And Chicago just did essentially that... for their parking meters?

i was so incredibly surprised to see a stand-up maths / climate town double feature. when i saw a 12:30 premiere then a 1:00 premiere in my feed i didn't think anything of it. love you both!

@rubieshay

7 ай бұрын

😊😮

The energy between Matt and Rollie is absolutely mental.

I did not imagine this collaboration but it is the greatest thing ever. You are both hilarious, thank you for this art (and like, learning or whatever).

Not the collab I expected, but it is most welcome! Two awesome channels!

Michael Parkenburger is my second favorite standup mathematician

I love love LOVE how you left all the bits in that would normally be just around an edit point so instead of looknig ABSOLUTELY SLICK it all looks sliiiightly clunky. What a difference one or two seconds makes hahaha Thank you for collaborating on this! Y'all make a great team :D

I come from climate town and I have to say I love how much fun you guys are having making these two videos. I hope you can do more co-labs in the future, although going back and forth a lot wouldn't be too good for the environment.

@TheBeccabus

7 ай бұрын

I follow Matt and I'm pretty sure he was in America for other things too 😊 He's had another video from America recently I'm sure they're mindful of it. I hope they're mindful of it!

As a Chicagoan, I saw the title of the video and went "Oooh a new Chicago parking video!" What I did not expect was that it was goign to be from Matt Parker

@paulkennedy8701

7 ай бұрын

You thought it would be a Parking video but didn't realise it would involve a Parker...?

I can't tell you how astounded i am that the municipal government of Chicago could have bungled something!

There is a more fundamental problem here. They missed an important question and got it wrong no matter which way they could have answered it: What is the purpose of parking meters? Option 1) to generate revenue. If thats the answer, what are you going to do in future years uf you sell them now to fix a short term problem? Option 2) to influence how people share the limited parking space by charging enough that people dont use it wastefully, but not so much that people cant afford to use it efficiently. If you sell it to a private company they will not care about this, they have no incentive to make parking work well for the city, they dont care if the average joe is priced out so long as there are enough richer people to fill enough spaces to make more money on higher prices. The job of the council is to coordinate the functioning of the city, not just to make money. If parking meters are just a revinue earner they shouldnt have installed them in the first place, so selling them based solely on their earning potential was always going to undervalue them.

Just thinking about starting and stopping all these different shots makes me smile. thank you for bringing some fun to one of the already best subjects: Maths.

The grading between different cameras is spot on. What colour space did you use to get them to match so perfectly? Was it parkerRBG?

@Quantris

7 ай бұрын

CMYK but the K stood for Parker

That "YEAH!" scream used twice in the video, as patriotic flags pop up, is Roger Daltrey of the band The Who, from their ironic political song "Won't Get Fooled Again". I don't know if this was _intended_ as a subtle bonus joke, but it sure works as one! ☺

@viliml2763

7 ай бұрын

I think everyone knows it as "the CSI Miami sunglasses song"

Both of you together is wonderful!! keep that good stuff coming!!

This was a great and unexpected collaboration! I definitely laughed at the various scene transition antics. Well done!

A crossover I never knew I needed, but one that I am digging.

Those edits were so seamless it's almost unreal.

@dielaughing73

7 ай бұрын

-almost unREAL!!

This reminds me of a situation here in Belgium where they sold government buildings in the early 2000s and then rented them back. Just to make sure the budget is correct on a one-off basis.

I'm now wondering how the Darwin City Council (Northern Territory, Australia) calculated their payback before signing a 99 year lease with a Chinese contractor for the Port of Darwin. Aussies aren't allowed to know the terms and details of the contract (of course). Any comments?

I would not be surprised there was a brown envelope involved in doing the math for the original report.

@samsonsoturian6013

7 ай бұрын

Lose the conspiracy theories. No one elects mayors based on their qualifications to give investment advice

@kylezo

7 ай бұрын

you have to be a complete idiot to believe that corruption of democracy and capitalism don't go hand in hand@@samsonsoturian6013

@CK-ceekay

7 ай бұрын

A real "back of the brown envelope" calculation

@samsonsoturian6013

7 ай бұрын

@@CK-ceekay shut up

while the news about rollie's 75 year contract with Stand-UP Maths is upsetting I still hope to see more collaborationn of a similar scale.

Thank you. This is absolutely the collaboration that I needed to see.

Love that the representative song for USA freedom is by a British band. Climate Town got TASTE!

I love the combo of production styles. Wonderfully well done!

2 of my favorite channels coming together. This is awesome! I hope the 3 generations of ad spots also include more crossovers like this!

99 Percent Invisible did a great episode on this deal and this is a great analysis of it as well from your perspective. Thanks for covering it!

This was not a collaboration I expected lol Been subscribed to both channels for a while, so this was really cool! 👍

This is the best birthday gift I could have hoped for. Two of my favorite channels collaborating!

@splinct

7 ай бұрын

Unrelated but happy birthday🎉

This sounds a whole lot more like corruption than a "maths mistake" ngl

@samsonsoturian6013

Ай бұрын

Nah. This was right after the crash. All assets crash in a recession but unlike stocks you can't see that happen in real estate instantly. What happened was when they offered the parking for lease all they got were low-ball offers and they just took the highest bidder without doing the math themselves. Wall Street calls this "distressed investing."

@ohno5559

Күн бұрын

@@samsonsoturian6013 I'm not saying it's impossible for it to be a mistake, I'm just saying that when someone makes a "mistake" this monumentally stupid, and the result is massive profit for someone else, it's very suspect.

two of my absolute favorite channels. somewhat different but both so amazing.

Matt, you have to make a video on the Hikaru 45 win streak drama in there chess world right now.. people really struggle to understand large numbers

Top Ten Anime Crossovers of All Time:

i LOVE this! this isnt what we asked for BUT this is definitleywhat we needed

Matt's timey wimey transitions are always top notch and blow my mind.

Awesome video! I loooove the Escher in the background! 😍

Did not realize how bad I needed these types of collabs

Oh wow, cool collaboration, and important journalism mixed with the mathematical entertainment I expected. Nicely done! Also very important to be exposing cases like this where governments sell out their people to big business for short-term popularity and to 'cook the numbers' and make their administration look successful while sabotaging future administrations. It's really terrifying to see how infrastructure, in the USA especially but increasingly elsewhere in the world too, is being hollowed out by these deals selling everything off to private owners, bleeding dry the taxpayer's money and giving little to nothing back -- and then the failure of the privatized or partially-privatized systems is somehow used to justify further privatization in many cases! Usually, this is down more to corruption/'lobbying' than actual misunderstanding of mathematics, but both might be a factor here -- those who knew how bad the deal was were on the take, those who weren't on the take didn't understand how bad the deal was. Remember, all of this money was directly pulled out of the pockets of the city's people. Even if you ignore the climate and traffic-control implications, the money drained from the city's budget either comes out of the provision of poorer city services, or higher taxes and fees. Most likely both. And this isn't an isolated incident, it's just a particularly egregious example of the pattern.

Love the banter and editing style, great collaboration!

thoroughly enjoyable video! The humour and editing was on point!

So awesome when two franchises you love have a crossover!

I think there are some obvious problems with this calculation: Firstly, they used historical yields rather than current yields, and they used yields for short-dated debt rather than long dated debt. Secondly, you can get yield curves for index-linked debt, and they should have used them instead of making an estimate for inflation. In the UK, the Bank of England publishes these every day. In the US, they are published weekly by the Federal Reserve.

This, my friends, is a marvelous example of how buying politicians, especially Chicago politicians, produces better return on investment than any other financial instrument.

2008: Chicago council makes parking meters deal 2023: Matt Parker ''This is the worst deal in the history of deals, maybe ever"

I love love love the pacing, the 4th-wall breaking, the collab and Rollies energy sooo much! This has been a fantastic video! I already love your style of video matt, but this one knocked it out of the park!

Two of my favorite channels collaborating! Both of your styles are unique and you really made them work together. Awesome video

This has been an awesome collaboration. I love how hard Rollie played the ugly American. I also love how Matt plays the comedic straight man with unvarnished integrity. Well done!

Literally my favorite video you've done to date. This was amazing and hilarious

"I knew you'd only say it if it was a lot or a little." That's damn hilarious.

As someone who lives in the Chicago.... 1. wish I'd known you were in town. 2. after 30 seconds of the video I'm going to have to turn this particular video off so as to not pop a rage aneurysm about the way parking works here and who benefits.

Love that you enjoyed some local hotdogs! Also yeah this whole parking meter thing was a total mess from the word go. And people were pointing out it wouldn't even help a few years down the road.

Love it when 2 of my favourite youtubes team up. It's a crossover i wasn't expecting but i'm here for it!

I love how Matt, an Aussie living in England, used US currency for the opening shot. And yeah I know it's a video about a US city, but still, seems funny.

Side note: Ben Franklin’s abused quote, “Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety,” was about exactly such an issue. It wasn’t about “freedom,” it was a tax issue. “Temporary safety” was money now. “Essential liberty” was the right to money later.

@nosy-cat

7 ай бұрын

Care to share a source for that? You know, for my lazy friend.

Wow... Rollie's shirt absolutely DESTROYED my bitrate. I could barely even watch whenever he was on screen. Lol

Excellent collaboration. Too bad it's wasted on me: long time sub and patron of both channels! You both rock.

Would it be possible for the city to hold a referendum to rip up the deal? It's kinda ridiculous for one sitting of the city council to make such a long-term decision that cannot be reversed even when future sittings of the same city council would (presumably) want to do so

@major__kong

7 ай бұрын

It's a legal contract. You would have to take them to court, but making a bad deal isn't against the law. People deserve the government they get and they deserve to get it good and hard. Start electing better politicians.

@whitesoxMLB

7 ай бұрын

No, not at all. Imagine a world where each new session of government is now entirely unbeholden to agreements made by the old government if it decides not to follow them. Can't raise revenue with bonds. Those become meaningless. Defense pact with allies? Worthless peace of paper. And better not hire a company to do anything that lasts longer than a year like, say, build just about anything. Because apparently you can just decide not to pay.

@mattwecrazy3236

7 ай бұрын

So life under Trump. Gotcha!

@Kconv1

7 ай бұрын

probably their only way out would be to reduce non compliance fines to 0, then wait for people to stop paying meters and for Morgan Stanly to back out of the deal themselves. Morgan Stanley cant do enforcement themselves, so they are still beholden to the police and courts to enforce non paying fines.

@whitesoxMLB

7 ай бұрын

@@Kconv1 Lotta big brains in the comments thinking they outsmarted a multinational financial company's lawyers with five minutes of thought.

Going by how much they've already made so early on in the contract the city could literally have earned enough to build a large Crossrail styled modern subway line for freeee if they kept the meters. $2bn income so far is crazy, it really is enough each year going forward from now to fund subway line building until 2083 and onwards. Never even thought about how it means the parking can't be reduced until 2083 too, that's a disaster by itself. If the contract says no parking spaces can be removed Id still try and make it a pain to use them. I'd close some roads to cut through traffic even. Politicians suck, I don't get why they think they're qualified to talk about anything like this or most things, like what makes them knowledgable enough? Their job should literally be just getting experts opinions on each issue, listen to the experts recommendation, and then implement it if feasible.

@bengardner8639

7 ай бұрын

The contract says that for any road closures, the city must pay Morgan Stanley the full value of all parking spaces on that road for the duration of the closure if I remember correctly

Thank you for your Spaceballs-esque editing at 16:21 it made my evening!

Worst deal ever for Chicago, best deal ever for us because this collab is amazing

i do not live in chicago, and i dont love math. but this was an AMAZING 2pt collab. thank you!

Well, if Chicago isn't getting any revenue for on-street parking, it seems like a perfect excuse to make Chicago extremely bike and pedestrian friendly.

@scottdebrestian9875

7 ай бұрын

They have to compensate Morgan-Stanley in full for any parking spaces replaced.

@Epoch11

7 ай бұрын

​@scottdebrestian9875 you wouldn't have to get rid of any of the meters to make it more pedestrian and bike friendly. A really smart thing would be to get rid of cars altogether and have a service that takes you from place to place preferably using driverless cars that basically roam the city.

@5thearth

7 ай бұрын

Sure, it's not like a multibillion corporation has a financial interest in preventing that from ever happening.

@weenisw

7 ай бұрын

@@Epoch11ok this is a really good idea minus the driverless car grift part. Put dedicated bus lanes or massive bike only streets but with no driving lane, then leave the metered parking spots that are illegal to drive to or at least very inconvenient. Hahaha let’s creatively revenge screw over Morgan Scamley

@Xathian

7 ай бұрын

No, it's not an excuse because this deal also involves paying the new owners lost revenue any time the city does anything that harms their expected revenue projections, construction blocks a road? Pay up. Public event restricts parking hours? Pay up. Modify the city to reduce traffic and therefore parking? You guessed it, pay up. Yes, this deal is even worse than the video portrays.

I wonder what happens if the people of Chicago get mad enough that they start refusing to pay and vandalizing these meters. I remember a story where people in Paris where putting super glue in the meters. Depending on who is responsible for the meters might force a negotiation. This is daylight robbery.