Host: What if a global pandemic... Me: *pauses the video and jumps to comment section*

@et778

4 жыл бұрын

Same 😂😂

That pandemic joke hits different now

did she just single handedly predict the corona virus

@carinaklingelsmith371

4 жыл бұрын

was literally just thinking that bc WOAH she actually kinda did

@abhiprakash74999

4 жыл бұрын

@@carinaklingelsmith371 me too bruh. Also I was watching a crash course video about globalization and John said it might look good or bad fr the future depending on what happens now. It's good if it leads to great prosperity. Bad , if it allows a disease to spread quickly via airplanes. I was like " woah " there too.

@iuliananghel8626

4 жыл бұрын

Also putting a picture of a coronavirus O_O

@sharenkoshy1416

4 жыл бұрын

I was just about to comment on that. Even the picture of the virus is the same

@mysuperpuffle

4 жыл бұрын

The only reason i came to the comments

Someone watched the pandemic part and thought "here's the big idea I was lookin' for"

@mothw.9620

4 жыл бұрын

Federico Pavone When I heard that, I wondered if anyone was still watching who was going to mention the current pandemic 😂

What if there’s a pandemic that whites out half the population ‘What if’ yeah *nervous laughter*

@punkrock666

4 жыл бұрын

Is coronavirus turning everyone white? Less exposure to the sun or what? I don't get it!

@mollie4960

4 жыл бұрын

punkrock6660 no I’m just dumb 🙈

@seyamrahman1002

4 жыл бұрын

punkrock6660 lmfao ‘white out’ as in erase

@mollie4960

4 жыл бұрын

Seyam Rahman Yes, there are so many layers

when she said pandemic, I double-checked the date this video was uploaded (2015), and then I almost pooped my pants.

Lots of people stuck in quarantine suddenly interested in economics I see

*Main outtakes of this lesson* 1) _Budget deficit_ - the amount by which a government's spending exceeds it's income over a particular period of time. a. _Debt_ - the accumulation of budget deficits. b. In the same way our GDP grows every year, due to population growth and productivity increases. And our ability to sustain debt grows along with our income. 2) _"Default"_- the investors who loaned the government money lose billions and the government loses all credibility, and it causes massive recession. 3) _Debt ceiling_ - limit on the amount of national debt that can be issued by US Treasury.

@rhondell5724

7 жыл бұрын

a crash course of the crash course

@gregson99

7 жыл бұрын

and fix nothing and further decrease our country's stability.

@CB-vw5gj

7 жыл бұрын

dont be a nerd

@salomonprietoprado3589

7 жыл бұрын

Сергей Галиул

@outofmoneyman

6 жыл бұрын

Oh man you are cracking it. Thanks for the highlights!!

She totally predicted the corona virus, that was the craziest thing ever. In conclusion we can expect the debt to continue increasing and making it difficult to pay off. Mathematically it would be more difficult but not impossible. I am still optimistic about this situation.

Watching this to study for an econ test during the COVID-19 pandemic is... interesting

i’m from the future. the epidemic thing was right 🦠 zombies still tbd. 🧟‍♀️

@Drewrejee

4 жыл бұрын

I think the zombies are the people who wont stay home and are carrying the virus and also the brainless taking all the toilet paper lmaoooo

@mustyHead6

4 жыл бұрын

@@Drewrejee hey i really liked your drawing, why don't you post more

@sonji72

4 жыл бұрын

Zombies could be created by the Covid-19 vaccination!!!!!!!!

This comment was made during Coronavirus pandemic. Will look forward to see this back after years. God bless you 🙏.

"Global pandemic" *Evil laughter* from adrienne hill

**Watches this while in covid lockdown**

6:42 did they show a coronavirus cell? Wtf

Did anybody else realize that disease was the Corona Virus? Damn Crash Course predicting the future....

1:30 Ah the good old days when US debt was only 18T

@ErikPT

4 жыл бұрын

@bongo155 Yeah but, we still need to fix the budget deficit since the Fed warned Congress that we must balance the budget by increasing revenue or output in time we'll be balanced.

@nextsc4663

4 жыл бұрын

@bongo155 At one point, we won't be able to sustain this debt and we should be looking in the long term. You either got to increase revenue through areas such as taxes, or you have to decrease spending. Pretty much everybody from both sides of the political spectrum agrees that the debt/deficit needs to be curbed somehow, but which of the two is the big debate. Personally, I am in favor of reducing both taxes and government spending, but if people saw how much polices such as universal healthcare would truly cost, they would be against adding fuel to the fire.

@nextsc4663

4 жыл бұрын

bongo155 Yes, the government does spend unnecessarily. The issue isn’t just what its beong spent on, but its also about how much. The government does spend more money on the military than necessary, but the same can be said about much of the welfare programs that make of the majority of its budget. Those programs are ineffective and are often times wasted. There are certain areas where the government should be involved, and certain areas where it shouldn’t. There are a lot of areas where the government is involved, but shouldn’t. Cutting down on those will reduce spending and reduce the deficit. Tax cuts on the supposed rich/corporations are actually tax cuts on thr middle class as well. Most tax cuts reduce taxes for working americans, and improve unemployment by giving companies more money to work with, allowing them to give raises, employ more people etc.

@nextsc4663

4 жыл бұрын

@bongo155 Its not just my political opinion nor does 'every piece of data and research says good welfare programs benefit a society". There are many studies that in fact prove how the government welfare programs are ineffective and are wasteful. Look at how much we have spent on welfare and how much of the government budget goes to it. Then look at the results. Welfare is not working despite how much money we keep throwing at it. The majority of the government spending is spent on welfare programs NOT infrastructure. Comparing the US to the Scandinavian countries is more apples to oranges than a fair comparison. First, they are successful off their oil and natural resources. This growth was due to capitalism, not their supposed socialism. When countries like Sweden rolled in socialist policies, the economy tanked significantly. And the Swedish economy is still not as good as it may seem. Second, they have ethnic homogeneity, and a strong social trust+culture. People trust each other, and crime rates are low. However, take a look at the refugee communities in the Scandinavian countries and how they are doing. Not so good right? The problem isn't that we are brainwashed into the libertarian movement. Quite the opposite: colleges and many of our educational institutes continue to spread leftist ideology to the next generation and brainwash them into socialist policies progressivism. Libertarian-ism isn't some big lie told to the poor by the rich. The government really IS inefficient and wasteful. The larger the government grows and the more power it has, the further it inches to tyranny. We are a country built on the free market and a minimal government. Just take a look at the constitution, which places the inalienable rights of every human above the government. Tax cuts do improve the economy. Nobody can deny the state of the economy right now under Trump. Unemployment is down historically and wages are up. And with a better economy, you can generate more tax income even with a lower percentage. There is bipartisan agreement that the budget deficit and debt should be controlled. There are many reasons for this, but we are essentially digging ourselves into a hole. Even with low interests, we are still paying a huge percent of the budget to that interest. 22 trillion dollars is an incomprehensible amount of money. That is money that could be spent in a more useful area. And should something like a recession were to happen, out debt will be a further burden. The solution isn't to try to generate more revenue by increasing taxes: you could suck the rich dry and not have enough. Thinking long term, you need to cut down government spending on programs like SNAP where billions go wasted on junk. Otherwise, the hole will only deepen, with interest costing us even more. The last time I checked, the debt to gdp ratio was in the 110%s. The US gov. can go broke and nearly has on several occasions. One thing that keeps the dollar's value is our military prowess, though at a certain point, the rewards are minimal for every extra dollar spent on it.

@alotan2acs

4 жыл бұрын

@bongo155 Intragovernmental debt influences inflation.

This definitely aged well with Adrienne telling us how boomers are the problem and then predicting a pandemic and now we're in a pandemic that will eliminate the boomers. Maybe after all this will be beneficial to the economy

@elijahgavin6706

4 жыл бұрын

Eliminate the boomers? Give me a break. Not even close.

Crash Course with some more AWESOME economics stuff! Our generation is lucky to have these videos!

6:40 that did not age well

So basically we have to take granny and grandpa out to fix the economy?

@paxshmitz2665

4 жыл бұрын

Who needs boomers anyway. They always complain about the millennials and younger generation so we need to help them move on.

@Deus888

4 жыл бұрын

Or stop being sick

@paxshmitz2665

4 жыл бұрын

@Mama Warbucks A joke...

@paxshmitz2665

4 жыл бұрын

@Mama Warbucks Moron.

@paxshmitz2665

4 жыл бұрын

@Mama Warbucks Fairly sure your joking. But if not you have serious cognitive disorders.

Anyone else here after Covid19?

MIND BLOWN! Government debt as a percent of GDP? that's such an fantastic way to evaluate things! This is an awesome educational series

I'm italian, i didn't know italia was so bad!

This series predicted 2020!!

Guys this is brilliant because you make it so elegantly simple to understand these terms. Thank you!!!

so... zombie apocalypse next?

Love the hosts and the production, great work!!!

Love the way you present things, more powers to you !!!

Thanks for all of this great content - using for assigned watching in a university course.

6:41 she full on jinxed it. that's a picture of a coronavirus aswell

The US debt now stands at more than 31 trillion dollars and the debt ceiling has just been raised. Awesome predictions!!

At 5:12 you say Norway but show the Swedish flag

@josephfox9221

8 жыл бұрын

+Sam Leduc how did you even see it?

@swat67ify

8 жыл бұрын

Nice spot xD

@arog7493

8 жыл бұрын

+Joseph Fox Put the speed to 0.25 and 0.50 and it's easy to spot. :)

@josephfox9221

8 жыл бұрын

Andy Rog now im just going to assume people watch slowed down videos to spot such things lol

@arog7493

8 жыл бұрын

Joseph Fox I imagine he wanted to see what countries were on the list as it was a bit hard to see in the video, I did the same thing. Haha

I know these have to be simple videos, but you missed some very important points. For example, the Federal Reserve Banks are major lenders to the federal govt and the US dollar is a global reserve currency. Basically, the US is in a very, very different situation from other countries like Spain or Greece. Technically there isn't a true lending limit for the US. It's not the same pool of savings that most commercial lending is handled from. The Federal Reserve does, basically, make money out of thin air to purchase US treasury notes. It's not finite. Now that being said, they have to keep a very close eye on inflation and growth. They also face political pressure from time to time. Yes countries like China and Japan also own a lot of US debt, but that's for simple currency conversions. They basically don't have a choice. The real limit, if there is one, would be if the federal govt forced the Reserve to lend so much that inflation would skyrocket and the rest of the world dropped the US dollar as a reserve. That's a really extreme situation that I doubt would happen any time soon. Not sure what it would be, but it would be far worse than a technical recession or default.

@rjr81

8 жыл бұрын

+Aquilen Central banks are part of economics in general. Analyzing debt and deficits without considering the role of the central bank will give flawed answers.

@John_Mason

8 жыл бұрын

+Aquilen They kind of started general and then went specific at the end. For example, talking about the US debt ceiling restrictions. It's basically a really flawed video in my view. This probably should have been broken out and explained better. Debt in Greece and debt in the US are different and the mechanics are very different.

@joeking9576

8 жыл бұрын

+John Mason You are very right that Greece and the US are in different situations. The US can and does print dollars. Greece can't print Euro's. WHEN its required that the fed start "easing" again the dollar is going to start coming back down off the temporary high its been on. China has been recently selling billions of dollars in treasuries. When we get QE4 China will probably accelerate their selling.

@julianalbertoarcesanchez964

8 жыл бұрын

+John Mason yes the Federal Reserve Bank can print money... but that increases the total amount of US Dollars, and that leads to higher inflation. So it is not possible just to "print more money". Look at the case examples on Venezuela, as the Government revenue keeps shrinking by producing less oil (and oil prices as they are) they run a very high deficit, that they cover by printing (read borrowing) more from their central bank, which has caused a "Government reported" inflation of 68% for the last year.

@John_Mason

8 жыл бұрын

+Julian Alberto Arce Sánchez The difference here is that Venezuelan bolivar isn't a global reserve. They have to peg themselves to the dollar and Euro, etc or end up out of sync, hence inflation. The US is a different situation. Yes, smaller countries can't simply print more money, though many try :)

A 7-minute crash course? :( We love you guys... 2 episodes per week please?!?!? :)

Fantastically unbiased presentation. Very nice!

What’s great and sad about re-watching crash course is old lessons are not learned … same mistakes again and again

6 years later. It’s 30 trillion.

I love you Mr. Clifford! We all miss you!

Thanks for this Wonderful Course Team!

6:44 I found waldo

"Remember, we try to keep it real around here" I lold

Crash Course is just amazing!

I needed the economic crash course commented on one of your videos asking for this course so I just want to THANK YOU for making it and now will you PLEEEEEAAAASSSSSS make physics crash courses and math(calculus, trig) courses!!!!! Thank you

6:37 - scarily relevant right now

"what's wrong with you?" "today we're talking about deficits and debt" [cheerful music]

lol I loved that opening with Jacob

Thanks for the crash course, CrashCourse.

the thought bubble animation is getting better and better! please don't lose the style!

5:11 why is there a Swedish flag with the title Norway? :D

At present, I don't work because m too small for that but will definitely become a patreon when I start working... Thnx for providing these awesome videos

brilliant! another awesome video

When a six year old has been actively seeking employment for the last four weeks...

of course I see this after I took my financial test this morning ugh

You guys are awesome. Econ sounds more interesting now.

Is anyone using these videos for home schooling? They seem really good and a lot more fun than reading a chapter in a book.

Was looking forward to this video. Don't get me wrong, it was great. But it ended just as it was getting started. You left out so much. Great candidate for a part two and three.

me: what if that 6-year old- other crash course fans: impossible

This episode was as cheery as my favorite comedy podcast! Good stuff, though!

As I am moving forward through this economics series, I am not able to recollect the past videos, I feel like going back to 1st video, What's the best way to remember the major crux of each video?

@LBJultrafan23

7 жыл бұрын

Take notes. Welcome to class.

I'm saving my dollar bills, primarily for sentimental (not monetary) value.

Thank you for your work

THANK YOU SO MUCH FOR KNOWLEDGE - NAMASTE

hello...I am from India and I'm following your videos on finance for quite sometime now and you guys r doing a great job at educating people in the simplest way ... could you pls make the videos available offline too as that would help me carry my iPad around without having to search for WiFi .?? please!!

Dudes, the pool of money is infinite. It's called printing and fractional banking. Inflation and debt have no limits since the gold-standard was abolished.

@AndyFromBeaverton

8 жыл бұрын

+George W Bush Bailing out of the gold standard during the great depression is what finally turned around the economy. China was on the silver standard during the great depression and they didn't suffer a depression during the same period.

@lcmiracle

8 жыл бұрын

Oh hi Bush

@michaelbarton2549

8 жыл бұрын

+George W Bush Get your hat back yet?

@michaelbarton2549

8 жыл бұрын

+John Marlowe You know it's a joke right?

@TheBalancedAmerican

8 жыл бұрын

+John Marlowe _" debtors [creditors?]...demand repayment in another currency or with actual assets"_ Creditors can only demand payment in the currency in which the contract was written...yes? ;) _"Foreign debt will eventually result in foreign ownership of US property"_ If they want to purchase US output, yes. But dollars can settle transactions with almost any country, so foreign dollars reserves can circulate between foreign countries as easy as with US entities. =)

I'm from India n I like all your videos. These are very interesting n educative. Thanks.

2020 Here, can we get an updated version of the monetary, debt and tax policy? Seems things have changed.

@6:40 she predicted the future. She was talking about COVID-19.

But during the pandemic, government spend bilions for economic stimulus package to help businesses stay afloat. And in some countries, the economic injection drain country’s revenue and causing fiscal deficit.

LOL at 3:32 was hilarious hahahaha that film clip was perfect

Perfect! keep it up!

This one was way too short. ..

@kunalsingh6413

5 жыл бұрын

Indeed it was.

6:41 corona time

LOVE THAT INTRO OMG

Interesting closing statement

6:39 Predicting COVID-19?

so 25% in health and still shitty as hell?

@connorshea9085

8 жыл бұрын

+Sebastián “SebaUruKiller” De Vida American efficiency

@Aleph-Noll

8 жыл бұрын

+Sebastián “SebaUruKiller” De Vida because the prices are inflated due to private businesses owning the american healthcare system. that's the biggest reason it should be socialized

@RochesterOliveira

8 жыл бұрын

+Sebastián “SebaUruKiller” De Vida that's funny. You guys should pay a visit to Brazil and experience the great "free" healthcare system and your definition of "shitty as hell" will be revised!

@RochesterOliveira

8 жыл бұрын

+Alejandro Tejeda specially you bro. You should see how free stuff and socialism really work. It's funny, it just doesn't

@mihailung1720

8 жыл бұрын

+Sebastián “SebaUruKiller” De Vida It would be many magnitudes shittier without that spending.

Love the hosts great work!

I love the Ac/Dc belt buckle.

4:32 wrong. Private banks do something called fractional reserve banking. They can loan out money that they don't have. That's why we have an economy of debt. Because there will always be more debt than money to pay off the total debt

@screwdrivers6511

7 жыл бұрын

Then they're still correct because banks will only a loan a certain amount of money even if they don't have it. Even if the bank is loaning money it doesn't have that doesn't mean they can loan all they want

"Balance the budget at all costs! Even if it slows growth, and dips us into a second recession." - Stephen Harper

@PrivateAckbar

8 жыл бұрын

+Nolan Thiessen Economic growth means two different things from the point of view of Keynesian neo-mercantilism and classical deductive economic theory. For classical economics (and I would think most common sense people not inducted into interventionist philosophy) economic growth means capital accumulation. Capital accumulation means abstention from consumption. SAVINGS and INVESTMENT. And an increase in the amount of capital per head of a countries population that translates into a rising material standard of living. It doesn't mean movement toward the socialist millennium, either through class war freeing the fetters on the "material productive forces", or through central banks artificial credit expansion. It doesn't mean unsustainable credit booms, and it doesn't mean debt accumulation.

@nolanthiessen1073

8 жыл бұрын

***** The problem I have is in using "rising material standard of living". Yes, people today have more material than in the past. But if you look at other measures which look at quality of life, etc you find that we are worse off than in the past (i.dailymail.co.uk/i/pix/2013/07/12/article-2361857-1AC82905000005DC-989_634x449.jpg)

@PrivateAckbar

8 жыл бұрын

***** 2 and a bit short clear paragraphs.

@PrivateAckbar

8 жыл бұрын

***** Abbreviation: Keynes' system leaves out the concept of capital accumulation and substitutes inflationist fallacies already refuted by 19th century economists.

@justadude4938

8 жыл бұрын

+Nolan Thiessen That link leads to an image. Which measures are you reffering to when you said life weas better in the past, and how far back in the past are you talking about? And did you, by any chance, learn about the Black Death in history class? Because we don't deal with stuff like that anymore, which I feel is a good indicator quality of life has improved.

omg u helped me so much for my homework (even if they are in french) thksssss

I love how I view videos a few minutes after it was posted ^_^

5:11 Anyone else saw Norway with Swedish flag? :))

We need more Mr. Clifford!

After helping me through college im happy to have found your videos again as an adult to brush up!!. Way to go!!

Should you look at debt/gdp or debt/gdp/capita? Or does it depend?

I swear, sometimes it's like people in the 20th century thought:

@koellekind

8 жыл бұрын

+Edouard Dubois I also have that exact impression sometimes. But regarding the environment, we all keep going down the crazy road. As soon as you live in a place with heating, you already use up more of the earth's resources than what's your "share". Adding a car, buying beef and food that came from the other side of the world etc., you are quickly at 2,5 your share. I guess it all just happened because of the economic thinking: "We need more profits, so let's do this and that". Economy-wise, it's not smart to look at long-term problems you won't be the one to pay for. We'd need a completely different system...

@Beretta249

8 жыл бұрын

+Edouard Dubois That's basically it. The Boomers were born into the greatest distribution of wealth in American history. They spent that legacy getting high and deciding that instead of changing the power structure they would ignore it. Amazingly, that didn't reform the nation. =P They then panicked when reality failed to mirror their non-ambitions and when they had kids, my generation, they'd sold out and given up. And here we are.

@Beretta249

8 жыл бұрын

+Edouard Dubois That's basically it. The Boomers were born into the greatest distribution of wealth in American history. They spent that legacy getting high and deciding that instead of changing the power structure they would ignore it. Amazingly, that didn't reform the nation. =P They then panicked when reality failed to mirror their non-ambitions and when they had kids, my generation, they'd sold out and given up. And here we are.

@xaviersoto3978

4 жыл бұрын

You should be a politician, sounds like you got a plan........

"they deserve it, they worked hard." The elderly in America are entitled af and are the root of the problem

@KayclauShipper

4 жыл бұрын

Yeah, but they're old and deserve to be taken care of just for that.

great work

love Jakes belt buckle

The national debt is a huge drag on GDP growth. That means fewer jobs and lower wages. We need big spending cuts across the board to erase the deficit and start paying down the national debt.

@nolanthiessen1073

8 жыл бұрын

+Naveen If the government cuts spending drastically it can reduce investor confidence and result in private enterprise also shrinking. I'll try to find the paper, but a recent report found that economies which went the austerity route (which you're proposing) after 2008 saw a -1% GDP growth rate, whereas countries which used the Keynesian idea of increasing government spending to increase private enterprise confidence saw a +2.5% GDP growth rate.

@Van_frederick

8 жыл бұрын

+Nolan Thiessen this is interesting thank you

@chanachon56

8 жыл бұрын

+That Guy Rich guys = investors investors = investment more taxation = less investment less investment = less jobs for average people less jobs for average people = ..... you get the point right?

@SillyPutty125

8 жыл бұрын

+That Guy We should continue to run a deficit, because running a deficit grows our economy faster than the interest on the money that we borrow to do so. It's the same reason an entrepreneur can take out a loan, spend it on building a business, pay off the loan, and still have money left over. The issue is that the deficit is projected to rise to unsustainable levels in the coming decades. As discussed in the video, this is primarily due to social security and medicare costs rising as the baby-boomers retire and people live longer. This means that eventually, we need to adjust these programs in some way.

@SillyPutty125

8 жыл бұрын

+That Guy I agree. I'm just saying that the deficit isn't (currently) a problem. We should shift more of the tax burden onto high income earners and raise the minimum wage to help combat income inequality. Most economists believe that we're getting to levels of income inequality that is starting to negatively affect growth as a whole. If the lower class can't afford to buy products that companies sell, then that ALSO hurts the companies that sell them.

did she just predict wait some one els said that ne never mine

That was eerie.

3:22-3:54 Is that before or after paying interest on the debt?

6:41 hey there covid-19 pandemic !!!!!! 2020

the deficit prediction is wrong I will become president in 2036 and reduce the deficiet

@jamesmeow3039

7 жыл бұрын

Hurrah

@tiger21823

7 жыл бұрын

Thezebraherd wow man

@thomaswinkler9610

7 жыл бұрын

not with that picture...

@thezebraherd8275

7 жыл бұрын

Thomas Winkler lol

I LOVE +CrashCourse!

what does the chart at 2:58 suppose to convey? what is a negative % of GDP? how can debt be a negative % of GDP?

she just predicted the COVID 19 pandemic