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@shzarmai

Жыл бұрын

Sigh, this reminds me of Lebanon's economic collapse

@DUSaggin

Жыл бұрын

there's one very important point this brings me back to, is that no matter what a country should be self sufficient first "period", then think about exports then extra import luxuries. this is also the problem i see with the USA we have become a country of import over indulgence and hardly export and it will catch up to us.

@American-Motors-Corporation

Жыл бұрын

Ukraine has nothing to do with Sri Lanka that is a lie Ukraine is not that important I wish people would stop acting like it is

@DUSaggin

Жыл бұрын

@@American-Motors-Corporation did anyone here say that? but now that you bring it up yes.

@DUSaggin

Жыл бұрын

@@American-Motors-Corporation most economic collapse these days are caused by the same thing. the usa will soon follow if not proped up by the rest of the world.

"The strength of an economy is thus measured by its weaknesses, rather than its wealth." Loved that. You'll get a million subscribers in time. Keep up the outstanding work!

@CasualScholar

Жыл бұрын

Thank you!! Very glad you enjoyed :)

@sebastianfischer7206

Жыл бұрын

That is proven constantly in Latin America. In a region where economic crises are more common than prosperity, how your country’s economy survives under the constant strain is fundamental. Brazil managed to survive a 10 yr long recession after an economic boom, though not unscathed. Argentina has been through constant recessions and depressions since the 30’s yet it is still one of the richest and most developed countries in the region. Venezuela, the only country in the region that was prosperous throughout most of its history, completely and utterly collapsed during this crisis. Knowing how to survive, is more important than knowing how to thrive.

@UniDocs_Mahapushpa_Cyavana

Жыл бұрын

India would love if people valued economies like that.

@user-DongJ

Жыл бұрын

Absolutely. Fortunately/Unfortunately for those who took the effort to understand war, money & nature from works like Sun Wu's Art of War, Adam Smith's Wealth of Nations & Carl Sagan's Vision of Humanity, s/he/they will realise there exist many who will seek profits/opportunities from this crisis. This may explain why many elites/experts from states like US, China, EU, India, UK, Russia, AU, Brazil, etc. groups like IMF, WHO, UNP, RSF, ICC, WFP, TSB, POG, etc. & firms like Apple, Tencent, Samsung, Nestle, Loreal, Tata, Sony, Siemens, etc. are already making their moves in the cyber/shadow space.

@Theguywithephonyname

Жыл бұрын

Agree

Sri Lankan here, The decision to cut fertilizer is apparently due to the lack of USD but it was a stupid move that could have been avoided, likewise the next biggest mistake is shutting down the crude oil refinery in order to conduct spot purchases for refined fuel, considering that both these commodities are now hot topics internationally, we have basically shot ourselves with food and energy insecurity

@siddharthtotla8277

Жыл бұрын

I think you guys should join Union of India or make SL free trade and investment zone for Indians because the massive size of India will in any case drive the island forward. We have 5 states West Bengal Bihar Kerala Punjab and Jharkhand where the fiscal situation is worse than SL as per RBI reports but Indians are still in no crisis at all because states like UP Karnataka Gujarat Telangana Tamilnadu are growing very rapidly and are covering up the revenue shortfall. Similarly the crisis and political problems will be finished with 1 year rather than a prolonged painful period which will also take it backwards when the rest of the region like India and Bangladesh are fastest growing in the world.

@dhaneshwar.g9221

Жыл бұрын

You guys deserve it 😂

@UnholyWrath3277

Жыл бұрын

@@siddharthtotla8277 joining India comes with the negatives of being dragged into any potential conflicts(which are becoming increasingly likely) and the potential loss of autonomy. While your right about the potential benefits the average Sri Lankan likely doesn't want new Delhi telling them what to do in the slightest or they would have joined at some point.

@UniDocs_Mahapushpa_Cyavana

Жыл бұрын

@@UnholyWrath3277 Indian suzerainty would avoid both issues (Sri Lanka does not have global ambitions anyway). Also, India hates small countries constantly going rogue and grinding diplomacy to a halt, so is extremely close to just encouraging China to take over instead to avoid the issue.

@UnholyWrath3277

Жыл бұрын

@@UniDocs_Mahapushpa_Cyavana India will never let China fully control Sri Lanka. If you think that you have 0 understanding of geopolitics. India has spent the better part of a decade preparing to face China and box them out of the Indian ocean so you think they'd actually allow a potential enemy nation so close? You said joining India would solve both issues but offered no reasoning it would. They would still get dragged into a potential war and they still would lose their self determination the moment a slightly more authoritarian regime took hold in India. At most they should sign some economic deals with India joining them is not acceptable to most Sri Lankans I have seen on the issue

As a Sri Lankan Economist, I can confirm this video is accurate. In addition, what needs to be highlighted is that much of the large scale construction projects in Sri Lanka saw many loans coming in but the government failed to spend on projects based on Return of Investment. Many large projects in Sri Lanka is now in idle or without being put to use.

@juts_sama

Жыл бұрын

As a non Sri Lankan, I do not know this

@khalidalali186

Жыл бұрын

Hahaha as a Sri Lankan Economist lol 😂

@spechund7109

Жыл бұрын

@@khalidalali186 economists are literally the most useless profession. Always hear them talking when the damage is done; if you knew all that couldn't you have done something to prevent all this?

@spechund7109

Жыл бұрын

Economists. The ones never there to help prevent or predict the financial storms but somehow always there to dissect the aftermath. Useless.

@IdeaBoxful

Жыл бұрын

@@khalidalali186 As if you are isolated from such problems. Only people like you can laugh at others misfortunes. Show some humainty first.

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. We can get by, but cant seem to get ahead. My condolences to anyone retiring in this crisis, 30years nonstop just for a crooked system to take all you worked for.

@vaztrevorknox4203

Жыл бұрын

@@HLO-iy2bp that's actually quite impressive, Please how can I contact your advisor, I really like what he has done for you, and I also want to benefit from it. I am looking to make a change on my finances this year as well

@opaljeremiahkyle3505

Жыл бұрын

@@HLO-iy2bp The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees drain your portfolio. Is this the case with yours too?

@leither-truth4414

Жыл бұрын

@@jackfinnva2409 An expert is always an expert in what he knows how to do best.

@adokadanla1407

Жыл бұрын

I think he< must be very good with crypto because he has been recommended by many KZreadrs to learn how to trade with him.

@lea5898

Жыл бұрын

Arjun B Jagat is very resourceful and helpful to me as well. I started trading a fairly small account and i got over 200% within one month. We need more traders like him in the space to guide the teeming population of crypto enthusiasts and traders out there

And let it be known that the worst is yet to come for Sri Lanka. Brilliant explanations, thanks for raising awareness to the world about our plight.

@siddharthtotla8277

Жыл бұрын

I think you guys should join Union of India or make SL free trade and investment zone for Indians because the massive size of India will in any case drive the island forward. We have 5 states West Bengal Bihar Kerala Punjab and Jharkhand where the fiscal situation is worse than SL as per RBI reports but Indians are still in no crisis at all because states like UP Karnataka Gujarat Telangana Tamilnadu are growing very rapidly and are covering up the revenue shortfall. Similarly the crisis and political problems will be finished with 1 year rather than a prolonged painful period which will also take it backwards when the rest of the region like India and Bangladesh are fastest growing in the world.

@Damien_Mctyline

Жыл бұрын

@Siddharth Totla SL people will surely revolt like Taliban against India for sure, if any joining or merger conditions.

@davebauman4991

Жыл бұрын

If SL secedes and abandons it's own government in revolt and appeals to India for annexation, then there will have to be a global witch hunt for all the capital flight. It will get real ugly.

@shagunthapliyal7309

Жыл бұрын

@@siddharthtotla8277 Boy, this will create more problems than solutions in the long run. Quite a number of Sri-Lankas dont like Indians for the intervention of the IKPF as well as the partial favorism to tamils during the relieve supply by the TN goverment would be a huge issue in the long run.

@eduardochavacano

Жыл бұрын

Sri Lanka is a beautiful Buddhist island with so much beauty. The world can love Sri Lanka. But sadly conflicts plague the lands.

There are Very few instances in history where a country run by a single family translates into continued development and progress. The moment I heard "elected a strongman", we all knew this was a disaster waiting to happen. Appointing incompetent people to important positions Never works.

@N0noy1989

Жыл бұрын

The only time it worked is in Singapore. I can't think of any other instance it actually worked. Others might start good, but still end up in a disaster.

@death_parade

Жыл бұрын

Reminds me of the Gandhi political dynasty in India. (Unrelated to Mahatma Gandhi).

@divineflu34567

Жыл бұрын

​@@death_parade congress

@paulmik9356

Жыл бұрын

@@N0noy1989 Brunei? What about Libya? Gaddafi was no saint but some people who lived in that country told me it was not a bad place to be in.

@nanonano2595

Жыл бұрын

@@N0noy1989 singapore just won the strongman leader gacha, lee kwan yew bothered to plan for singapore's stability beyond his lifetime. Just about every other dictator's concerns didn't extend to what happens after they die or get too old.

*I've always wanted to try something but I'm scared that it will end badly. I feel like an idiot coming over here, but I was inspired by this post and I don't care what anyone says. I need some ideas on how to go about growing my money*

@dianaroberti872

Жыл бұрын

Lol, well it’s not a bad idea coming online to get answers and you did the right thing as well. You shouldn’t be hard on yourself dear.

@dianaroberti872

Жыл бұрын

There are a variety of investments to engage in, but without solid knowledge or skills, I would advise you to work with an investment advisor who can help you understand and also recommend a suitable investment that you can engage in to get good returns without losing your money. Personally, I work with *Hamilton Phoebe Zoe* and my experience with her so far has been the best.

@kristenjosephinebalsamo7630

Жыл бұрын

@@dianaroberti872 I keeping reading good things about Hamilton Phoebe Zoe, Can you share more information on how to reach out to her?

@biggerpockets9148

Жыл бұрын

I’m surprised to see Hamilton Phoebe Zoe's name here as she works privately. In a CNBC post I read a testimonial on Hamilton Phoebe Zoe. I ran a research with her name and being impressed with her page , I reached out to her. In my experience , Hamilton Phoebe Zoe is amongst the few honest investment advisors who care about her clients rather than their money. I picked up many skills which helps me win from my investments from her.

@elinarose2041

Жыл бұрын

It’s not all about watching investment videos but also putting them into good use. Working with an expert helps navigate some difficulties and avoid you risking your money. You know they saying “if you want to go fast walk alone but if you want to go far walk with a group”. Having an investment adviser is a wise financial decision to achieve a good investment with much returns.

Sri Lankan here. This is a really well-made video. Wish it was about better circumstances. But living here for 32 years, that's all but a dream. Things have worsened since this video has come out. People are in queues for days for essentials like fuel and cooking gas. There have been 15 deaths at those queues up to today. People simply died of exhaustion.

You are more accurate than the politicians and some of the media here in Sri Lanka. Great documentary 👌

Great video as usual. Can you do a video about the situation in other nations ? namely the ones you mentioned in the end of this video ; tunisia, argentina and pakistan. That would be interesting.

Another great video👍. I had no idea how desperate things were in Sri Lanka, I hope they find some way to recover even though I don't see a way they can.

@CasualScholar

Жыл бұрын

Thank you :) and I really hope so too!

@Andy-pl7nk

Жыл бұрын

If they don't recover, what does this mean? Men start eating each other?

@RAKITHA9

Жыл бұрын

@@Andy-pl7nk we are following Lebanon , and if that doesn't suit it, it will be like Venezuela, srilankan in Sri Lanka so I see the ship sinking

@user-vj3gq7di8c

Жыл бұрын

@@RAKITHA9 nah we will get through this have faith brotha ❤💪

Interesting to hear you comparing Sri Lanka to Eastern Europe. I’m from Ukraine and I spent a month traveling around Sri Lanka in February 2022. I’d say Sri Lanka doesn’t come anywhere close to Ukraine in terms of development, let alone Eastern European countries that are in the EU.

@bloodfiredrake7259

Жыл бұрын

Ukraine will soon look worse lol

@mathijs8537

Жыл бұрын

@@bloodfiredrake7259 yes, but the worse the situation the better the development, if Ukraine enters the EU and if they build a grand new infrastructure then they can develop very very fast. But the opposite can also happen

@jaybee4577

Жыл бұрын

Eastern Europe only have decent infrastructure some of their slums can be compared to slums in poor countries in Africa and Asia. Standard of living is similar to African and Asian countries.

I'm in my twenties. I'm not sure about my future anymore. This is like living in hell now. Everyday blackouts. Fuel prices high as f and now there is no fuel. Education system collapsed, Hospital system collapsed, Thousands of busineses collapsed. Now people some suicide because of this situation. Children don't have food. But Corrupted Rajapaksas are still in their fucking chairs.

1) education 2) free markets 3) checks and balances 4) diversification 5) saving If history has taught us anything, it's that these 5 things are the backbone to any successful nation. There are more, but these are mandatory in order to achieve long term success.

Who would have thought, modern fertilizers and genetically modified crops are really vital for maintaining productive agriculture. What a surprise.

Just a little constructive criticism: the term “printing money” can mean a lot of things - almost never involving printing actual currency. For example, having the central bank lower borrowing rates is OFTEN called “printing money”, even though it doesn’t directly add new money to the economy - it simply encourages financial institutions to also lower borrowing costs. Lowering interest rates also makes investment in companies more attractive than keeping capital in bonds, which tends to lower unemployment and stimulate growth. If inflation is already a serious problem, this policy can make inflation worse. It all depends on the problem and economy is facing.

@rodrigo445678

Жыл бұрын

Except that the investments produced aren't natural and are misallocation of capital that will eventually lead to correction. The problem is giving that type of power to a group of unelected officials who act as a political tool.

@ThatPianoNoob

Жыл бұрын

Borrowing is inevitably a printing of money since banks can lend 10 bucks for every 1 they have. I don't really know enough to judge that practice but on the surface it seems fucking crazy.

@JoeOvercoat

Жыл бұрын

One has to love “Quantitative Easing” for the depth of its ambiguity.

@thetooginator153

Жыл бұрын

@@rodrigo445678 - There were economic corrections long before central banks set monetary policy. I think you would be interested in seeing a chart showing American booms and busts over the last 200 years. The business cycle has smoothed out dramatically since the Federal Government played a larger role. This has allowed investors to put their money into companies with more confidence. We don’t read about the thousands of wealthy investors who lost everything in the 1800s due to brutal economic downturns. We only read about the very few winners. I’ve watched the Fed Rate for forty years, and I haven’t noticed any political favoritism. I remember the Fed raising rates constantly during the Clinton administration, even though there wasn’t a hint of inflation. It was simply accepted practice when the classic inflationary triggers were heating up.

@thetooginator153

Жыл бұрын

@@ThatPianoNoob - Good point, but banks are private institutions.

Can you please make a video regarding the countries who are vulnerable and can collapse anytime soon ? I would like to know what's the severity level of all this happening around us.

That's a very good analysis..👌🏽👌🏽 It's the only video amongst 10 or so, which discussed the issue, has actually touched most of the influencing factors...

Worst part is. I got friends from sri lanka here in Denmark. And we had a talk about this situation. Worst part is. Even they are helpless. Sending money to their family won't change a thing when goods are not there. Kinda scary...

@lt8865

Жыл бұрын

Worst part is . . . damn I forgot!

Well well well ! Looks like you were spot on with this video given what’s happened over the last couple of days

Can't believe this guy is under 100k subscribers.... maybe just new.... I am sure you'll get many more soon if you keep pumping out great content like this.

@tmbxd3469

Жыл бұрын

There are a lot of KZread channels that use this exact format and style.

We need this video in spanish. I live in Ecuador where a group of people shut the country down in order to get the government to subsidize costs of living. People here think that because we produce oil, we will never starve.

I occasionally work in the gem trade, and Sri Lanka sapphire and spinel suppliers are either unable to transact, or are holding on to their inventory; they are there largest producers of those luxuries, and I feel like their value is going to skyrocket in about a month or so

Can't get enough! Can't wait for more videos!

Great video! Much fewer black spots; in fact I can only really think of one. Getting a lot better in just a short term with your editing work!

@CasualScholar

Жыл бұрын

Thank you for such a kind comment! Glad you enjoyed :)

@KainYusanagi

Жыл бұрын

@@CasualScholar I also really appreciate you delving into the issue that the Sri Lankans are looking at here, and how it is interacting with the sociopolitical goings-on of the world. Most places I've seen talk about it just sneer at the shortsightedness of the fertilizer ban, to the effect of "what were you possibly thinking you idiot?!", but you gave it serious context that makes the move understandable; a risky proposition to try and lift up a failing currency when everything is collapsing around them because of the reliance on imports and tourism, which is never a good plan for long-term sustainability.

Thank you for covering this

Are you not going to mention China in all this? And how it's preditory loans on Sri Lanka's largest ports lead to it coming under CCP control. This has also happened in other countries like Uganda and The DRC.

@UnholyWrath3277

Жыл бұрын

Eh when China and the U.S inevitably come to blows over something Sri Lanka will just nationalize it back without much issue

@user-gc1hg9sp9k

Жыл бұрын

Srilangka debt from china is just 10 percent, most of srialngka debt are actually come from foreign borrowing like asia development bank, IMF, and world bank

@raunakshahi8485

Жыл бұрын

That's actually just Western and Indian propaganda, (I say this being an Indian) they want to make China a villain in this story even though they've got nothing to do with them. Decades of mismanagement, nepotism and corruption caused problems cannot be blamed on a foreign power, especially if their entanglement with Sri Lanka is basically nil.

@lvjinbin28

Жыл бұрын

Lanka get much more loan from West than China.

@okano1082

Жыл бұрын

mentioning china in this crisis only meant you have been brainwashed

Phenomenal recap of the economic collapse in Sri Lanka! Thanks!

great coverage! thank you

And yet people still fall for the nonsensical purity laws of organic. Organic is a taxation on gullibility.

This is one of those channels that's too good to be free on KZread. Thanks a lot man

@philhellmuth2771

Жыл бұрын

Dude shut up, don't give him any ideas

I just discovered this channel and I love your content!

@CasualScholar

Жыл бұрын

Thank you!:)

By watching and listening to the comments in the social media and other forums, I get the impression that our folks do not understand the root cause of our problem and they talk about treating the symptoms. It is absolutely essential to understand the root cause that led to SL becoming “the laggard” in the region over decades and subsequent collapse. We know that, it is the parliamentarians who set the right fiscal policies and other progressive law and order policies essential for robust continuous economic growth. Sadly, absence of good fiscal policies, independent judiciary and law and order agencies led to corruption and financial ruin we have faced now. So, it is absolutely essential we elect “capable” characters with good “moral values” (absent in the current bunch) to the legislature/parliament to pave the right way forward in the very next election. The current undemocratic electoral system (introduced by evil old man JRJ) where candidates have to win votes at a very large district level, gives an unfair advantage to the candidates of cashed-up major political parties and prevents decent capable independent candidates from being elected. Major political parties are infested with morally bankrupt cashed-up characters who are incapable of governing the country. I honestly can’t see capable people with decent moral values coming through any of the major political parties under the current electoral system. So, the current system where candidates have to win votes at a very large district level must be replaced with small electoral divisions (single-member electoral divisions) where good candidates with modest funds could effectively campaign and win. This reform must be followed by the abolition of the executive presidency. Some argue for a more ceremonial presidency but that will leave room for unscrupulous parliamentarians to play games - increasing and decreasing presidential powers through amendments in the future. Hence, complete abolition of the Presidency is the most desirable. Don’t even leave a strawman as the President. During this crisis it is up to the people in the central bank to work-out the framework for debt restructuring and propose a short-term fiscal budget to satisfy IMF requirements. The IMF will release money in several small tranches, continuously monitoring the implementation of the fiscal policies by the parliament. They will not allow non-revenue generating infrastructure projects. This will starve the current bunch in the parliament who are used to spending borrowed money like drunken sailors. I see present situation as a once in a 100year opportunity to exert pressure on the current incumbents in the parliament to vote for a fundamental change in the current constitution: a) Abolish the Presidency altogether b) Change the electoral system. Immediately pass a bill to revert from proportional representation to the pre-JRJ electoral system (single-member electoral divisions) and call for a referendum to ratify the bill. These two changes are absolutely essential for the long-term progress of our nation. If we don’t force the current parliament to implement these vital changes right now, it will never happen and voters will have no choice but to vote for morally bankrupt candidates put forward by the major parties again and again. At least changes to the electoral system must happen now, during this term of the parliament. To achieve this, I propose a multi-pronged strategy initially focusing on changing the electoral system which is the most important in my mind (critical mass of good people in the parliament will keep even a bastard-President under check in the short-term until Presidency is faced out altogether at a point in time): a) File a fundamental rights petition in the Supreme court of Sri Lanka against the undemocratic electoral system where citizens are indirectly denied of electing capable candidates with good moral values outside major parties, citing major parties are stacked with morally bankrupt characters unsuitable to govern a nation. Demand for implementation of single-member electoral divisions so that people can elect good candidates with limited funds to the parliament. b) Do the same in the European court of Human rights. If this is not possible then write to them explaining this gross violation of electoral rights and seek intervention. Ideally, such a request must carry signatures of prominent internationally known and respected national figures. c) Write to IMF, World Bank, and parliamentarians of Advanced nations and our trading partners and seek their intervention to change the electoral system. d) Intensify public protest and civil disobedience because the outside world typically gauges our stability by watching images of rolling protests. Protestors must carry visible placards demanding electoral reforms (parliamentary bill and referendum to implement single-member electoral divisions) right now. Sadly, I haven’t seen any such demands by the protestors. Demanding 225 go home has no value at all because majority of them will return to the parliament in the very next election. As usual, they will buy votes of the starving poor folk with their stolen money and country will lose again. No other result is imaginable in the current unfair electoral system. Do not expect large investors come and rescue us as long as we have this corrupt to the very core system (legislature, judiciary, law enforcement and the lot☹). The IMF and sympathetic nations may drip feed us just to keep us alive. Please wake up folks.

@oih.1

Жыл бұрын

Reading through your comment I almost thought you were talking about Nigeria 🤣. Now that the Government has fallen, & taken over by the people, & as part of your proposals, the new parliamentarians should either work for free, or paid the same wages & benefits as Teachers in high schools, in-fact no elected or appointed Government official (including the next PM) should earn more than a University lecturer. You can't spend what you don't have, certainly not on Politicians who should be serving the people!

@victormiguel5316

Жыл бұрын

@@oih.1 My friend, government has not fallen over. What those unguided protectors achieved was chasing away one ugly monster; incumbent President. But, sadly today remaining crooks in the parliament will elect a new crook as head of the state. So, the protestors have virtually achieved nothing meaningful/useful to position Sri Lanka on a progressive path. As I mentioned in my earlier comment, protestors should have demanded electoral reforms (parliamentary bill and referendum to implement single-member electoral divisions). Small single-member electoral divisions is the way to bring in decent candidates into the parliament and stop cashed up crooks from using their ill-gotten wealth to buy votes.

This is probably the only in-depth video about Sri Lanka’s economy collapse. I love your videos👍

@xxxxxthegoddestroyerxxxxxx9332

Жыл бұрын

there's lots of other videos on this topic that came out weeks before

@EdwinTyler

Жыл бұрын

It's a good video but definitely not in-depth.

Thank you for doing this video.

@CasualScholar

Жыл бұрын

Thank you for watching!

Very informative and helpful insightful. Many people seem to think South Africa is headed down a dark path with their inequality. Can you do a video on this ?

@mike160543

Жыл бұрын

Since Democracy a politically connected elite have grown rich. Politically connected people are placed in jobs which they cannot do. The rest of the population is getting poorer.

one tiny mistake my man, Argentina has been on that crisis for the last 10-12 years, at least internally. we are right now having a worst crysis since 2001, the thing is that i dont think there is enough brain left to drain. And the world seems very hostile right now towards inmigration, taking into account, the US madness, and the EU inevitable conflict with the soviets.

@NullHand

Жыл бұрын

To quote Kuznets, "There are 4 kinds of economies: Developed economies, Undeveloped economies, Japan, And Argentina."

@geddycurrent1174

Жыл бұрын

The Soviets???

@NullHand

Жыл бұрын

@@geddycurrent1174 Argentina is a little far off the normal trade routes. News about what went down Christmas 1991 might notta reached there yet.

I wish you could make videos of this quality on all current events. Traditional media (including written publications) is beyond useless for understanding anything these days; much less geopolitics. I especially enjoy that you manage to be impartial without falling into the trap of being "neutral" or "centrist" as many others do.

Great video as always

@CasualScholar

Жыл бұрын

Thank you! Glad you enjoyed :)

Great video! Thank you!

The last of the stimulus checks were spent almost a year ago, and developed countries that didn't provide stimulus checks are experiencing similar levels of inflation. It's disingenuous to suggest they're the prime reason for what's actually a world wide cost-push inflation crisis that's attenuated by local conditions

The top holders of the Sri Lankan government’s debt, in the form of international sovereign bonds (ISBs), are the following firms: BlackRock (U.S.) Ashmore Group (Britain) Allianz (Germany) UBS (Switzerland) HSBC (Britain) JPMorgan Chase (U.S.) Prudential (U.S.)

@asoton957

11 ай бұрын

Most of Sri Lankan government debt isn't in the form of sovereign bonds though, so this is a pointless thing to mention. It's like highlighting to an obese person how much calories the fruit they eat has.

That last line was so impactful. Fully agree

The red rice I buy from Sri Lanka is the best and most nutritious rice, better than Indian rice. This can be one of Sri Lanka's strengths to feed the word.

@Decki777

Жыл бұрын

You are right .im srilankan we do import Indian Rice,potatoes and other vegetables from foreign countries but they don't taste good as our local Rice and vegetables but the problem is our country's rice and vegetables are not widely available in our own country

@siddharthtotla8277

Жыл бұрын

@@Decki777 I think you guys should join Union of India or make SL free trade and investment zone for Indians because the massive size of India will in any case drive the island forward. We have 5 states West Bengal Bihar Kerala Punjab and Jharkhand where the fiscal situation is worse than SL as per RBI reports but Indians are still in no crisis at all because states like UP Karnataka Gujarat Telangana Tamilnadu are growing very rapidly and are covering up the revenue shortfall. Similarly the crisis and political problems will be finished with 1 year rather than a prolonged painful period which will also take it backwards when the rest of the region like India and Bangladesh are fastest growing in the world.

@UniDocs_Mahapushpa_Cyavana

Жыл бұрын

The quality of the food is not the problem.

@pdev6000

Жыл бұрын

Thats because you cant afford to have basmati rice. Best in the world comes mostly from India. Probably outside your budget

@Decki777

Жыл бұрын

@@pdev6000hahaha basmati i ate many expensive basmati rice but they don't come close to our local Rice's taste and nutrition we import many rice and vegetables from foreign they don't taste good compares our locally made Rice and vegetables the Problem is locally made Rice and vegetables are not enough for whole Srilankan people

Here's what my Sri Lankan friend (who lives in Canada but still has ties to Sri Lanka) says about the food situation in his native country: "There's no food shortage. If you're importing food you can buy directly from abroad. So private supermarkets etc. can import without any issue. They have money, the private people have money. It's the government and the central bank that have no money, zero money. The supermarket shelves aren't quite bare but heading in that direction. The exchange rate sucks, so there are limited options but the basics are there. You can eat a basic meal, nothing fancy." All this doesn't sound exactly like food shortages, let alone famine, but not great overall either.

Great video 1 point when you mention rupee around the 10 minute mark, the Indian rupee is shown

@CasualScholar

Жыл бұрын

Yes apologies, Its hard to find specific stock footage sometimes. Glad you enjoyed other wise and thank you!

Really enjoy watching these videos. I love to know what is happening around the world and being kept up to date. Better than fake news and propaganda outlets.

Your channel blew up deservedly, congratulations

Hey great video! I would greatly appreciate you listing sources in your bio adds a bit of credibility and more resources for interested people :)

Nice video!!! Great content and very interesting

Corruption, Economic mismanagement, Wrong decisions, Rajapaksha family are the main reasons for this disaster.

@mullerstephan

Жыл бұрын

then hang them.

This channel is really a hidden gem

I love every video you make!

@CasualScholar

Жыл бұрын

glad you enjoyed!! Thank you for such a nice comment :)

Excellent video

You are like the perfect foil to economics explained.

good explainer on Sri Lanka i understand what is happening and what is highly possible in short term for my country and region,

@siddharthtotla8277

Жыл бұрын

I think you guys should join Union of India or make SL free trade and investment zone for Indians because the massive size of India will in any case drive the island forward. We have 5 states West Bengal Bihar Kerala Punjab and Jharkhand where the fiscal situation is worse than SL as per RBI reports but Indians are still in no crisis at all because states like UP Karnataka Gujarat Telangana Tamilnadu are growing very rapidly and are covering up the revenue shortfall. Similarly the crisis and political problems will be finished with 1 year rather than a prolonged painful period which will also take it backwards when the rest of the region like India and Bangladesh are fastest growing in the world.

love your vid's ty

@CasualScholar

Жыл бұрын

Thank you! :)

great video

Im happy i found this channel

Hey man how did you get the first shot of the map? Where was this done?

Could Brazil follow something similar due to inflation and economic stagnation or this global food crisis could present an opportunity for us to become the world's major food provider? We also have a similar problem with importing stuff in USD while using BRL for internal currency, since we are mainly an agrarian nation, any technological product is imported, we also import gas due to the lack of proper refineries for the type of oil we extract, so this skyrockets food, gas, and general goods prices here.

@syjiang

Жыл бұрын

Brazil unfortunately suffer an export bottleneck. Your geography means that the agricultural heartland is separated from the coastal shipping route by a mountain and needs trucking. That drastically increases cost and cap the maximum amount that can be transported. A lot of the lands also has a thin topsoil layer so short term gain in agri output will incur long term cost of land exhaustion and loss of natural habitat.

@mullerstephan

Жыл бұрын

Brazil is importing fertilizers from Russia at a discount. I don't think they will have a food shortage so in that sense no, they won't see a crisis like Sri Lanka. Also Brazil is poised to gain a lot from rising commodity prices as it is a big exporter of many raw materials. It also has big reserves and doesn't owe money to the IMF. I think it just hast to manage itself correctly, no matter who is in power. After the elections this year we will get a better picture of its future outlook.

@oih.1

Жыл бұрын

So Brazil's main problem is transportation infrastructures (agro settlements to shipping ports), which can be easily solved with judicious and targeted use of their revenue & maybe some loans from IMF. We shall see if the political will is there to achieve this and corruption won't stop them.

@Riingwraith

Жыл бұрын

Thank you everyone for the answers. From what I could gather we have a manageable logistical problem but we rely on our politicians to do the right decisions to solve said problem, so basically we will continue to be a developing country for the rest of our lives :)

@oih.1

Жыл бұрын

@@Riingwraith so you're saying? Politicians can't solve the/a problem? Who do you think would/can?

Here in the US we are about to enter a recession. If we enter, the rest of the countries such as India, Pakistan, etc economonies will be impacted.

@saravanakumar5656

Жыл бұрын

You enter recession and possession but US will go down in coming future better pack your bag and go to your home country or canada

@Velaldo-nw7ve

Жыл бұрын

@@anujpandita3387 from the list u provided only china and eu can have a major impact to the rest of the world. But not India, Japan etc

@UnholyWrath3277

Жыл бұрын

@@Velaldo-nw7ve Japan is the 3rd largest economy behind only China and the U.S as a single nation. If they recessed it would absolutely have an impact especially with their high tech specialized fields supplying much of the world with gadgets. For reference Russia invaded Ukraine with neither having been a top 5 economy and overnight gas prices almost doubled and food prices all over the world have soared. Now imagine a top 3 economy having a similar issue

@UniDocs_Mahapushpa_Cyavana

Жыл бұрын

True, but India would likely benefit, as it is so crisis resistant and the lack of oversight and interferance will make reforms and diplomacy easier.

@Velaldo-nw7ve

Жыл бұрын

@@UniDocs_Mahapushpa_Cyavana haha. Keep thinking that.

Great video. Subbed. Can you do a series on poorest countries in Africa and what went wrong and what they can do to develop. Thanks.

@demonzabrak

Жыл бұрын

Honestly to me that seems more like two series, “what went wrong” and “how to make things better.” Otherwise, agreed.

@jaybee4577

Жыл бұрын

Why are you concerned about African countries? Obsess?

@charlibravo371

Жыл бұрын

@@jaybee4577, none of your business fool.

Nice Nice video 🇱🇰👍 Good luck bro 👍

I like simple you make everything seem.

@1:28 even the fire fight with them holding bow and arrow look between 1st and 2nd guy

I hate how KZread doesn't list the date videos were uploaded anymore on a lot of videos. Like I'd like to know how recent this video is. Looks like very recent since the channel's comment is 3 days old, but why no time stamp on the video?

Can you make a video regarding Mexico economy? Fuel is being subsidized to prevent inflation and I think it would be an interesting topic.

@saf6996

Жыл бұрын

Similar to Malaysia. This help peg inflation to just 2-3%

@johnl.7754

Жыл бұрын

There was news of some Americans driving to Mexico to fuel up their cars in Mexico 😂

3:20 where did you find this info just out of interest Great video btw

Nice video very informative

@CasualScholar

Жыл бұрын

Thank you :) glad to see you're back for another video!

Good video.

Regardless of what country we talk about, the conclusion is always the same: we are governed by incompetent people who are not any smarter/ prepared than the average citizen, and often have no real idea of what they are doing.

@Chompchompyerded

Жыл бұрын

Elect me! I'll be honest with you and admit I have no idea what I"m doing!

Spot on

First of all, I am a big fan of making sure the rich and powerful are physically unable to leave the mess they created. Keep it up guys.

Every country is broken it's just how manipulation of the currency and resources the country has

Yay! I love your videos! Also, could you please think of covering other South Asian countries like India, Pakistan, and Nepal? The latter two have some troubling economies that could use some explaining.

@UniDocs_Mahapushpa_Cyavana

Жыл бұрын

The major issue with both Pakistan and Nepal are that they are in a democratic system their people really don't want, because it is good for foreign relations (except for India and China who really don't care so long as it is functional, and if anything would prefer a military junta to pass reforms and listen to diplomatic reason).

@akashpatel8410

Жыл бұрын

@@anujpandita3387 Bangladesh is in trouble

Feed back about the audio. With headphones it extremely loud and hurt the ears. With airpod, I had to lower the level to Damm near audio off. And it was still loud. Other wise great content.

Suggestion: The Economy of South Africa

Good points, can I suggest you make a video about Cuba? There seems to be some similarities with Sri Lanka...

@chiensyang

Жыл бұрын

Cuba's economy problem is similar to the latter days of the Soviet Union, not Sri Lanka.

@JaKingScomez

Жыл бұрын

@@chiensyang no

and what do you say about the economy of South Africa? please can you do a video on that?

Pray for our country 🇱🇰😢😞

Its time to analyze Argentinian Economics

at 10:21 you have shown the Indian rupee notes not the Sri Lankan ones. just a minor correction. otherwise great video

@sandal_thong8631

Жыл бұрын

Yeah, I expect the empty store shelf was from America too. Not sure what would be on the shelf next to rat traps.

There is also Ecuador

Does this channel predict the future? I remember a video about the war and now this. It seems KZread waits a few weeks to show me them so the evnts have already happened when I watch it.

It's crazy how a war in Europe can be the final blow to the downfall of a nation across the world.

The Accuracy. Do one for Kenya's Ecomomy.

And banning fertilizer.....in an agrarian economy. Govt-caused recession, meddling govt clowns.

@sandal_thong8631

Жыл бұрын

You'd think they could prioritize tariffs on non-essential goods.

Sri Lanka isn't rushing to abandon subsidies on fuel, food and fertilizers. It's like no one wants to admit the reality, the closed economy has failed and they must now open up and stop subsidising goods.

Sri Lanka today Philippines tomorrow

@Inoooo

Жыл бұрын

Delusional

I’ll be heading there in November with the peace corps! Can’t wait!!

WEF had articles praising Sri Lanka that got mysteriously deleted from their site after this years events.

no mention of record corporate profits in the US as a driver of inflation? important detail to skip over regarding US inflation being a factor.

If u remember me...I told u I will subcribe and see u go to 100k....u have grown so much my child..u need 7k more

@CasualScholar

Жыл бұрын

I did it! Thank you for believing in me. I do remember you!

@earthscomapnion23

Жыл бұрын

@@CasualScholar ✌️✌️✌️

Norway is probably the opposite site of Sri Lanka's oil story

@Shaggytheking

Жыл бұрын

Venezuela is more like it.

@jaybee4577

Жыл бұрын

Sri Lanka doesn’t have oil.

Excellent factual data and discussions ! Very comparable to Bangladesh as similar people agriculture climate looting and corrupt politicians and officials. Just same predictable nonsense and mistakes. I have known many decent people from Sri Lanka and wish them all the best. Regards.

Dutch government just imposed a ban on nitrogen fertilizer as well. Let's see how that pan out.

@sandal_thong8631

Жыл бұрын

Countries dependent on grain from Russia and Ukraine need to either increase their food production or increase their income. Banning the import of fertilizer hurts the former.

@10:21, this is the Indian Rupee, not Sri Lankan.

No Mention of Dept-Trap Loans.... as it had no Role to Play.