I feel like so much of these conversations are so reductive. If you price a hostpital at say £5 million you forget that the hospital creates jobs, prevents people with minor issues developing into serious sickness thus reducing time off sick and stops people dying which could be a full working adult contributing to the economy. This goes for a lot of public infrastructure where the secondary and tertiary economic impacts are ignored simply by putting some arbitrary price tag on the primary impact and judging whether or not its is a net positive.
@justinchase6666
2 сағат бұрын
There's a great skit on yes minister about a hospital in the uk. Where it employed tons of people, just no doctors. Basically from a pure utilitarian argument you are correct, however those same hospitals are a waste if not staffed and maintained. The government can only afford to maintain a certain number of hospital at a given standard. So we would need that invisible hand.
@TheBooban
2 сағат бұрын
Everything is a net negative when any job you create gives money to China to buy trinkets. People think its a joke, but the trade imbalance destroys your country!
@danielwebb8402
2 сағат бұрын
The price tag is real. Not arbitrary. Buildings cost money for bricks and labour. Yes it produces benefits. Hence they can, as you say, calculate a net cost / benefit. Do you think we should have 67m hospitals? As shouldn't be dependent on net benefits so why not 1 each?
@mattblack6736
2 сағат бұрын
@@danielwebb8402 Your ridiculous comment doesn't deserve a response.
@Alexander-yb1zc
2 сағат бұрын
@justinchase6666 This is exactly my point. There are so many considerations around assets that are never considered if we build a £10 million hospital the GDP grows because of that assets but like you said if it has no doctors it has no impact but it does "Grow" the GDP. We've reduced everything to the price tag and not the impact. And while the price tag isn't no important it isn't everything.
@XenFPV
3 сағат бұрын
The public sector net worth measure seems to be just objectively all around better and more accurate than the current model. If it means we stop doing things like selling off public assets to raise a bit of short term money I'm all for it.
@Treblaine
Сағат бұрын
The public sector is worthless because it doesn't make any money. That doesn't mean it isn't important, but it certainly isn't a valuable financial asset. My aorta is financially worthless, I cannot sell it for a penny. That doesn't mean I can inflate valuation of my assets by counting how much I would be willing to pay an assassin to spare my aorta as wealth I could liquidate.
@guiga582
37 минут бұрын
Just in dreams that will work, this will only make it easier to spend more and saying it's ok, any asset value is subject to a big range (since it depends on a lot of factors), what would stop the government of overpricing their assets to allow more spending ?
@Patrick-y4d1z
15 минут бұрын
@@guiga582 But buying assets for the public which are essential makes fiscal sense. For example, to renationalise the water sector would cost £13 billion. Which sounds like a lot of money (and is). But it's an essential asset that we can then maintain, and people would just continue paying off their water bill in the meantime. For us as consumers, we could ensure that critical assets (such as water) are protected and maintained properly, and that the cost of the assets are fairly distributed. Currently, they're mismanaged and falling apart, yet billions are being given to shareholders in dividends. Whereas if the public owned it, the government wouldn't be requiring to make those billions for shareholders, so it could drive down bills, or bills could remain the same and any profit is then just invested into the infrastructure. "what would stop the government of overpricing their assets to allow more spending ?" Oversight by the public who can vote them out. Conversely, what would stop the private companies from overpricing and then just not maintaining the infrastructure? Which is exactly what has happened.
@guiga582
10 минут бұрын
@@Patrick-y4d1z replacing one bad system for another isn't a good solution, but you're free to support anything that makes you happy.
@BadgerBoy59
3 сағат бұрын
That term "persnuffle" is absolutely adorable
@ItsTheBoombox
3 сағат бұрын
Petition to change the title to "Infinite money gltich 100% working (2024)"
@Jordan_Warrington
3 сағат бұрын
I would really like a longer version as this just skimmed alot of interesting subjects.
@Alexander-yb1zc
2 сағат бұрын
@@Jordan_Warrington It's literally called TLDR...
@Baxwell.
3 сағат бұрын
A country being in debt with itself (a government in debt with its own central bank) isn't really debt at all. If the central bank wants to drain private bank reserves by selling gilts, then they're free to do so. The government doesn't have to.
@SaintGerbilUK
3 сағат бұрын
No, why do you think that there is a ratio of pound to euro, or pound to dollar? If you endlessly print money you end up like Zimbabwe, and nobody wants to use your currency. Given that a large portion of our economy depends on imports and selling services internationally, we should really have a strong pound.
@sabotazystazycia
3 сағат бұрын
That's true, we just still have "gold standard" mentality
@fburton8
3 сағат бұрын
@@SaintGerbilUK Then don't print money endlessly! Manage inflation sensibly.
@mrwpg
3 сағат бұрын
The central banks are not government owned...
@mrwpg
3 сағат бұрын
Central banks are not state owned, deficit spending is a scam to steal private wealth.
@flynnlong9998
Сағат бұрын
Wish they'd just bloody legalise cannabis, mushrooms and truffles and start taxing it. Considering alcohol does within the region of £12 billion, a few bil would help enormously and provide another growth market in the UK.
@AmateurHEROduelist
55 минут бұрын
Its so pungent though and stinks horribly, I'd only be for it if it was for use at home and in certain licenced premises and banned in public and in public places and private establishments that aren't licenced pot head bars
@hotcrossandnobuns1850
25 минут бұрын
Me too! I'm so surprised it hasn't been spoken about more. The success the US has had with legalisation, and the taxation they get from it - I'm surprised more people aren't talking about it. '22billion blackhole' would be covered and more.
@turquoise7817
19 минут бұрын
@@AmateurHEROduelist so.... like alcohol? seems reasonable?
@673497
9 минут бұрын
@@AmateurHEROduelist I think you had been smelling some real bad quality weed. The smell of good quality weed is better if not more tolerable than tabacoo smell.
@fburton8
3 сағат бұрын
Just come from watching the latest video from Richard J Murphy where he explains how we actually have a positive surplus (assets > debts). "We don't have a debt crisis in the UK, we do have a problem with some very bad numbers [, a] very bad comprehension of what makes up those numbers [and] a problem of communication because the Treasury keeps on insisting that we are in enormous quantities of debt that don't exist."
@pixhammer
3 сағат бұрын
Yeah UK is quite rich in this sense. Frankly i think changing how debt is measured is a good way forward, it would pave the way for more public spending, especially in areas such as hospitals and roads
@Burito-tj5ry
3 сағат бұрын
having more assets than debt is not having a positive surplus. Having more revenue than spending is having a positive surplus. The UK still run a deficit
@Angel24Marin
3 сағат бұрын
@@Burito-tj5ry The difference is that then you are counting investing as spending too. If you spend in assets and those assets rise in value you don't take that into account.
@Thermalions
3 сағат бұрын
@@Burito-tj5ry Indeed, assets > debt just means you have a positive balance sheet, which has no bearing on the budget operating surplus/deficit.
@pixhammer
3 сағат бұрын
@@Burito-tj5ry Issue here us that just counting money in money out doesn't cover value moving through the economy as a whole. A bridge isn't inherently valuable, but it speeds up people getting from one side to the other to do business which gives it a value, same as roads and hospitals. This reflects as a loss under current measures, but in the LONG TERM the economic positive of that bridge pays itself off and then keeps paying for as long as the bridge exists, even if it doesn't in any particular short term measurement.
@TheHellishOtherWriter
3 сағат бұрын
I can't wait for us all to be wrong in five years and we're living in a Labour-run paradise and Keir Stamer is considered the best PM in British history.
@wagie95
3 сағат бұрын
lol good one mate
@unamedjoe830
3 сағат бұрын
My paradise consists of a 20c day in a beer garden with a cig.
@matthewyabsley
3 сағат бұрын
Missing the point entirely. The majority of us just wanted the conservative circus to stop. Anything was better than what they have done to us.
@SaintGerbilUK
3 сағат бұрын
From our personal prison cell, where everyone is too afraid to speak for offending the party.
@ecaeas4439
3 сағат бұрын
@@SaintGerbilUKThe only people who say things like that are ones annoyed they're being held accountable for being racist / spreading other forms of hate on social media.
@ROTTERDXM
2 сағат бұрын
Ah this is like the "Reverse Rutte". Where Mark Rutte says "investing" but actually means "we give you less but expect you to do more with it", this is the opposite. GENIUS.
@anthonylulham3473
2 сағат бұрын
We give you more and expect less? sounds about right
@reheyesd8666
2 сағат бұрын
When they cook the books, you know they are really screwed.
@stoicotter1175
2 сағат бұрын
The "fiscal rules" are arbitrary rules that were introduced during the Cameron government. They don't encourage investment and frankly we should change them.
@angoos2217
Сағат бұрын
@stoicotter1175 they are just saying some of our debt is not actually debt so that they can borrow more while following there promises while ignoring any repercussions
@vardekpetrovic9716
Сағат бұрын
@@angoos2217 more debt is the key and the downfall of the west.
@shamanahaboolist
Сағат бұрын
They've been cooking them for decades.
@simon2493
3 сағат бұрын
So maybe let's just break with stupid rule about debt to GDP? Japan has debt to GDP ratio of over 200 and they do not suffer extensively form it, heck France has 98% and they don't have their own currency.
@LeonFarafonov
3 сағат бұрын
Britain is doomed with such physical material
@crash.override
2 сағат бұрын
The whole obsession with there being a "critical" debt-to-GDP level that spooks markets was due to an academic study, which was later found to have botched its Excel calculation.
@joewilliams8658
2 сағат бұрын
Economists call the last thirty years of the Japanese economy "the Lost Decade" because of stagnant growth despite massive fiscal stimulus.
@davianoinglesias5030
2 сағат бұрын
@@joewilliams8658Considering that they lost their export share to other Asian countries it would have been worse for the average Japanese person. I'd say the economy is well managed
@paxundpeace9970
Сағат бұрын
France 111% Spain 108% Italy 135% Greece 162% both had been much higher Interest Rates are on the way down in Europe so debt to GDP will likely not rise by much if any. It will probably fall. Despite defizit spending.
@andrewclimo5709
3 сағат бұрын
Using up the date fiscal definitions is way overdue. The Thatcher-Osbourne practice of telling us that national finances are just like running the household shopping bill has done untold harm.
@inbb510
2 сағат бұрын
You know borrowing (or "printing money") ad infinitum would devalue the pound and increase inflation massively right? You do recognise this when you say such thing, right?
@nekrovulpes
2 сағат бұрын
@@inbb510 That hasn't stopped us doing exactly that for decades. You're not wrong in that QE and borrowing can create inflationary pressure, the misleading part you and the Tories perpetuate when you say this is you're acting as though it isn't already how the economy and government spending operates. That's why the 2% inflation target is baked into everything. It's not a bug, it's a feature; this is the reality of how public finances work in the modern world, but they tell the public a different story, as though the treasury is funding the NHS with pennies out of a big piggy bank. Borrowing is necessary, the key is where we invest that money- And investing it poorly, neglecting important services that provide a high return, in order to protect their own interests, is where the Tories went wrong. It's essentially a bet on future growth. Growth means a higher return which means the inflation and interest on that borrowing is offset. Of course, you can ask whether staking everything on growth is sustainable, but that's a different conversation entirely.
@davideyres955
2 сағат бұрын
@@inbb510yep common misconception about MMT, debt dosnt matter, you can print money as much as you like. If you borrow you can’t just print money to pay the debt as you correctly point out inflation will go up and debt costs will go up. Taxes have to go up and that comes from everyone. Unfortunately the left think that the 70s was a great time and sky high inflation, high debt and high taxes and high public sector employment were good. It wasn’t and it cost a lot of people their jobs to fix it and get us back to being the 6th largest economy in the world. So they’ll throw that away and take us back to the 70s.
@inbb510
2 сағат бұрын
@@nekrovulpes , just to clarify, I never said borrowing is bad. I'm saying this notion that fiscal discipline is "arbitrary" and doesn't matter is not only delusional, it is dangerous.
@nvelsen1975
2 сағат бұрын
Why is the uneducated ultra-left always pretending that economic laws are 'just rightwing political talking point'? A national budget is just like a household: Spend more than you have and you're on the clock to bankruptcy and misery. With the latter coming well before the former. Hey notice the misery in the UK, from a housing stock that's positively archaic compared to French, Dutch, German etc standards to an economy that has to rely on accidental inheritances such as London banking and London shipping insurance? Yeah, it's here already. And we can't go back in time and tell all pre-Thatcher governments to grow a brain and stop pretending that they're either the Soviet Union or the US with an empire and massive social spending on dead industries. But we can choose not to keep making the same mistakes as they did. Take the money from where it is: From the profiteering boomer generations. Can't invest 1 pound premium 1960-1990 before retiring early and still expect a 1000+ a month pension in return.
@CaptainBlitz
3 сағат бұрын
Forgot to pay the electricity bill 💀
@mattrobert5
Сағат бұрын
Did you forget to turn the studio lights on for this episode?
@paxundpeace9970
2 сағат бұрын
Germanys debt Brake (Schuldenbremse ) is so strict that with in only 70 years (bear any significant events or changes) the national debt would become 11% of It's GDP.
@benben4563
3 сағат бұрын
What you are suggesting is that the UK government to hinder to global pressures of running parts of the government like a company with profits and losses. Ignoring the basic idea that Government is not a company but a public service.
@FONASDeadlock
2 сағат бұрын
Except it's the government who come out with nonsense statement trying to compare a country's finances to a household finances. Like taking out a mortgage but not counting the value of the house in your net worth.
@James-tv4pl
2 сағат бұрын
The government is a service to the public. As part of that, it needs to invest in public assets, growth and balancing its expenditure. Thinking of the government as a service to the people alive right now with short term strategies such as tax cuts is exactly what got the UK into this mess. This will make the government act much more like a service to the public than it currently does
@ChocolateClocks
3 сағат бұрын
Sounds like they’ll end up putting us in more debt.
@SaintGerbilUK
3 сағат бұрын
Exactly they are getting the excuses in before it fails.
@pixhammer
3 сағат бұрын
We've had our debt keep increasing despite massive austerity and budget cuts. Sounds like no matter what they do in this case debt just keeps going up. Changing how we perceive debt is a chance for correction, because it's clear current definitions do not reflect the financial state of the 6th largest economy in the world.
@jackmason7823
3 сағат бұрын
Here's the problem with your assertion though; you're thinking of debt as defined by the Tories, as a % of GDP. As the video explains, that ignores national assets. Its what allowed the Tories to sell off our nationally run industries for cheap. We need to start thinking of the country's finances as a business would. Cash and assets. Assets raise in value, it's what has allowed the US, Norway, Luxembourg, etc... to become exceptionally rich whilst having smaller tax burdens than we do. Businesses also borrow to invest and grow, such as selling shares to investors. We need to do this, as you can't grow an economy without investing in its infrastructure.
@Thermalions
3 сағат бұрын
@@jackmason7823 Redefining debt doesn't change the fact that you need to service said debt out of the budget.
@pixhammer
2 сағат бұрын
@@jackmason7823 THIS!! Massive exaggeration: Think of the economic impact of removing half the roads in the UK, Tories would see that as an economic positive for debt because it reduces spending to maintain those roads. But now you lost the positive impact on GDP of having them, making you much poorer in the long term. Increasing debt. Short term the books look good, long term destroys the economy. They did this for years because they did not factor in the value of their assets into debt. This goes for everything, hospitals, trains, police. Everything.
@FuzzyRiy
Сағат бұрын
Can't fix a problem like you promised? Just change what "Problem" means.
@shaneintheuk2026
2 сағат бұрын
Persnuffle or Net Worth sounds so much more useful than debt. I’ve always thought it bizarre that allowing a private company to borrow money to build a hospital or road and then rent it to the government forever is good but borrowing money to buy it ourselves is bad.
@santoshkovelamudi4395
3 сағат бұрын
Looks like you took the word black hole to a new level with the dark theme animations and studio lights 😅
@ll01dm
3 сағат бұрын
counting debt you owe to your self sounds dumb. Its not really debt at that point.
@JB-qg2uc
19 минут бұрын
They need to plug the loopholes corporations use to avoid taxes. That's worth hundreds of billions of pounds per annum.
@play4dc
3 сағат бұрын
Persnuffle makes absolute sense and is a great word. I have a mortgage but I wouldn't consider myself in debt as I'm not in negative equity. Plus it would hopefully stop the Tories from ever claiming they reduced our debt by selling off national assets.
@FONASDeadlock
Сағат бұрын
Assets appreciate in real terms with inflation and time. Debt depreciations in real terms with inflation and time. You'd think someone at the Treasury would look at that. Is why local authorities should be spending billions on building affordable housing that's not sold to investors or sold under right to buy. Just build and own, rent at affordable prices.
@raquetdude
45 минут бұрын
How some much was sold off was horrific, the new system of understanding debt like other nations definitely needs to be brought in.
@TyrooShino
Сағат бұрын
"We want everything for free" "We want debt to stop rocketing" Labour - Okay. We will do that. Public - NOOOOOO *screams, cries, throws tantrum*
@napoleonibonaparte7198
19 минут бұрын
The third alternative is to stage a "fake" coup with everybody in Westminster involved on the plan, whilst the coup plotters cook the debt books live on air, with the Speaker's last words being, "somebody save our debts".
@JoeOvercoat
Сағат бұрын
Cooking the books to do whatever you want is the very definition of good governance. Everybody knows that.
@felixarbable
Сағат бұрын
This totally makes sense lol. Its just a more realistic outlook
@kobusvanstaden3747
Сағат бұрын
The real purpose of this video was to advertise WTF USA and wants me to say WTF TLDR
@redhat3224
30 минут бұрын
Germany's special funds are not unchallenged. E.g. it was ruled unconstitutional to re-purpose an existing Corona fund from previous years for other projects. The fund had to be abandoned.
@grafity1749
Сағат бұрын
Maybe not donating 20 billions to fossil fuel companies for CCS which is a scame
@maxbeavis7705
9 минут бұрын
Guys, love the content but maybe review your studio lighting or brightness in post processing. Compared to the other content it looks like you're sat in the dark!
@SeataltBelten
3 сағат бұрын
Wow! Seems like a great plan to get us into more debt! But in that case.. what was the whole cutting winter fuel stuff about? 🤔
@pixhammer
3 сағат бұрын
Winter fuel allowance becoming means tested was something that should have happened from the start. Why should we pay old people to heat their homes if their more than capable of doing so themselves from their own riches? The people they got to complain about it on their ads had insane personal wealth, dude flaunting a rolex in his fully owned home, complaining that the government isn't paying his bills for him. Atrocious and anti British.
@SaintGerbilUK
3 сағат бұрын
@@pixhammer If like the video suggests they can just print money endlessly why do they need to manage the budget at all? Of course all of this is "magic" accounting that will come crashing down.
@pixhammer
3 сағат бұрын
@@SaintGerbilUK I mean previous governments have done worse, somehow increasing debt while decreasing spending through faulty and magical accounting. Says to me we have always counted debt wrong, if that can happen.
@Baxwell.
3 сағат бұрын
@@SaintGerbilUK the video didn't say anything about endlessly printing money. You're trying your best to stay angry at something you've made up.
@SeataltBelten
3 сағат бұрын
@@pixhammer You’re either ragebating or just plain stupid. Ffs not everything is this right-left war; *plenty* of old folks living by the skin of their teeth are gonna struggle this winter. I agree, cuts needed to be made, but perhaps they should’ve reformed the system first to ensure those most vulnerable weren’t cut loose - or ended the ‘locking’ of pensions to free up the budget a bit. Mental attitude you have, mate.
@CalumJelf
2 сағат бұрын
Really interesting content, love your channel but your studio lighting and colour is a bit jarring, this ep is under exposed, the segment at the end doesn't have enough contrast or saturation. As a videogrpaher its just a niggle on this channel, your content is the main thing here, I just think your studio clips should match the quality of the animation and content. Keep up the good work!
@Pokemark17
32 минут бұрын
The problem with infinite money glitches is they get patched and you mighted get banned from multiplayer
@purpledevilr7463
Сағат бұрын
22 billion black hole. 22 billion in foreign aid. Simple solution.
@danellis-jones1591
45 минут бұрын
Do you need some money for the electricity bill? You're sitting in the dark.
@pbrown0829
Сағат бұрын
Sounds like a lot of financial engineering that wouldn’t be needed if their financial house was in order
@martynayshford4318
Сағат бұрын
Surely this is all semanic's? What is borrowed is an absolute value and the ability to borrow and the rate paid is a function of those prepared to lend? Someone has to buy the bond and hold. If the risk reward isn't good enough they don't. I also fail to see the difference between Liz Truss borrowing for growth and Rachel Reeves borrowing for growth and expecting not to run into the same sort of trouble, frankly Liz had way more credibiliy in actually borrowing to grow than Rachel does (we all expect her to borrow, spend and most likely achieve no growth). Given the markets removed Truss by not buying treasuries and thus spiking bond rates up, why does anyone think they won't be equally unhappy with Reeves doing the same, no matter how it gets dressed up?
@rerun374
2 сағат бұрын
No one said woke is based.
@jeff__w
Сағат бұрын
1:01“ There are basically three ways to resolve this: more borrowing, more taxes or less spending.” Professor of Accounting Practice Richard J Murphy has a different view: _There is no black hole in government funding._ … _Why? Because there can never be a black hole in our government's finances._ _Let's be clear how our government is funded. There are only three options available._ _One is taxation, and we know about that._ _The second one is borrowing…_ _And thirdly, there is government money creation._ See his post “There is no black hole in government funding” on his blog. _Edit:_ Murphy also has his highly detailed take on essentially the same topic “Rachel Reeves has to get her numbers right,” saying that the government _could_ count its assets, too.
@ay2deet578
5 минут бұрын
Im sure all those student loans will be repaid in full, it's definitely not a ticking time bomb of junk debt
@yep_digital
Сағат бұрын
Why are your videos in the studio always so dark?
@ddunfuh9239
35 минут бұрын
Electric is very expensive nowadays
@Snipe_the_Hype
2 сағат бұрын
You mean lie, they are just going to lie about reality
@FONASDeadlock
2 сағат бұрын
Current pension liabilities are paid by current tax revenue. Future pension liabilities are paid by future tax revenue. The Treasury counts the future pension liability but doesn't make a provision for future tax revenue which makes no sense. Either count both or neither.
@paxundpeace9970
Сағат бұрын
Debt to GDP Ratio of the US IS 122%. Italy 135% Greece 162% Japan 255%
@guiga582
Сағат бұрын
My god they're actually talking about fraude, it's so absurd redefine "debt", there is no magic wand you can't just borrow and then say it oh this is not debt or you don't need to repay it.
@imconfused1237
53 минут бұрын
Well, yes you can actually. As explained in the video. Did you not understand it?
@guiga582
50 минут бұрын
@@imconfused1237 I understood it's not a question of understanding their idea or not, it's that their Idea is stupid.
@johng.1703
3 сағат бұрын
just looking at the total government revenue chart, people pay income tax, people and businesses pay NI, and people pay VAT. it does look like businesses that make massive profits are paying significantly less than people do in taxes.
@Da1Dez
2 сағат бұрын
You're right, Labour could, but they won't. Utterly useless the two main parties in Britain.
@fireh3211
Сағат бұрын
"That IMF currently recommends"
@egocd
3 сағат бұрын
Your film set is super dark. Turn the lights up!
@theflybaby6736
2 сағат бұрын
Grayscale is real btw
@GhostOnTheHalfShell
5 минут бұрын
The government doesn’t need to raise taxes to spend on anything. Currency sovereigns like the UK do not borrow when they spend. Spending money into the economy is how money is created. What we call deficit is simply the difference between spending and national taxes. National taxation culls money from the economy. This is true at the national level in the US and it is true in the UK. The death itself is also incorrect because it represents the money supply, and if you got rid of the debt, it would delete everyone’s money. But because so much money is puddled into the wealth of the very rich who simply use the money to charge rents on everyone else, all they do is amass even more of the national money supply under their control. Clearly, the money that they have hoarded needs to be culled from them. The way to do this is to reduce the debt of individuals, reduce mortgage, or college debt, and for us poor sods in the US for medical.
@averin7568
3 сағат бұрын
0:10 They really tried ytiretsua seicilop?!? They are brave
@maxthemagition
Сағат бұрын
A pensioner pays 20% of their income to the Taxman. Most PAYE workers pays about the same. One must ask why the likes of the Duke of Westminster manages to escape paying at least 20% of their income to the Taxman. The reason is of course tax loopholes of which there are many in the UK. Tax avoidance and evasion is rampant in the UK and this is why the UK is called "Treasure Island" where money makes money from money and from nothing else, whist at the same time one can avoid paying tax on the profit which in reality is income. The rentiers are in the same game.....Avoiding tax on income. It's only those workers on PAYE and pensioners that get clobbered by the taxman, because they cannot hide their incomes and wealth. Even in death this avoidance of Tax continues as the loop holes are many for inheritance. It's impossible to give an exact number of tax avoidance and evasion schemes in the UK for a few reasons: Secrecy: The very nature of these schemes is to be hidden. There's no central registry and uncovering them often relies on leaks like the Panama Papers. Gray Area: The line between tax avoidance (using loopholes) and evasion (illegal hiding of income) can be blurry. Only insider leaks like the Panama papaers can reveal the Tax avoidance going on..... So it's Joe Public that pays the most as there are many Taxes like VAT which shoppers cannot avoid.
@timothytumusiime2903
2 сағат бұрын
Ah!!! The IMF 😐 The high finance equivalent to the guys who come to break your legs 😒
@xtieburn
Сағат бұрын
This is incredibly silly. The way Reeves could 'fiddle' with the fiscal rules is to not have them. That doesnt mean recklessly spending left, right, and centre, as her dwindling supporters like to strawman, its recognising that its patently absurd to discuss the issue on these terms. Half the conversation isnt about the realities of what and where we can and should be spending or raking in more money, they are a role playing game Reeves nicked from the Tories. Meanwhile, much of the media and talking heads continue to play along with it rather than point out that they are just making it all up without much in the way of expertise or evidence to back any of it. (and I do love how the far more objective and sane way of operating is being avoided, because it would mean admitting the indisputable fact that we are heading towards some major problems that need to be dealt with before they absolutely crush us. Very sensible, Im so glad the adults are back in the room.)
@danielmalinen6337
Сағат бұрын
However, sooner or later the loan has to be paid off in its entirety, because otherwise when the due date finally comes and the government's debts need to be paid off, the indebted countries will get into problems and be put on a pole and plucked just like Greece.
@3thinking
Сағат бұрын
Watch a Gilt price collapse (aka Trussonomics) when the debt load spirals.
@thenoodlebuddy
44 минут бұрын
Is my screen broken or is the video not very bright?
@RashelYeva
Сағат бұрын
!!!I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks or Crypto will be appreciated
@JoseLopez-lf9rw
Сағат бұрын
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
@AnastasiaAngelinaPetrova
Сағат бұрын
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.
@JoseLopez-lf9rw
Сағат бұрын
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $100k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
@AnastasiaAngelinaPetrova
Сағат бұрын
Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted based on thorough research and years of practical experience.
@RashelYeva
Сағат бұрын
nice! once you hit a big milestone, the next comes easier. How can i reach her, if you don't mind me asking?
@morgan_kemp
Сағат бұрын
Man, I wish I could cook my books to hide my liabilities like governments when asking for more credit 😂😂
@davidwebb4904
Сағат бұрын
Broken every promise in 100 days
@Spirit451
33 минут бұрын
So different ways to calculate the books, how is that suppose to attract investors?
@NorroTaku
2 сағат бұрын
gotta spend money to earn money!
@theo3000
Сағат бұрын
Elegoo want's their logo back. Thanks.
@thenoodlebuddy
34 минут бұрын
It actually seems absurd to me that all the assets and liabilities aren't taken into account. It is a much better measure of the financial state of the country. Businesses need to do it and it makes sense that government should do it to, otherwise we will just run up so much debt until we collapse or until the Tories sell everything off for their own personal gain
@estraume
2 сағат бұрын
Persnuffle - the word I learned today!
@mindyourownbuisnes8813
2 сағат бұрын
I think the German fund argument is bad. Afaik only the defense fund is still standing as it was anchored into our Constitution. All other Fonds were struck down as illegal since they violated the principle of yearly budgets. Afaik
@valentins7120
Сағат бұрын
It would mean selling out public assets to banks sooner or later. And by banks I mean billionaires.
@parametr
3 сағат бұрын
TLRD After Dark
@flaviusbelisarius7517
3 сағат бұрын
I can only see this ending well
@Proudenglishperson
3 сағат бұрын
Labour doing there best 😂😂 torys bots and reform will lie
@JasonAtlas
Сағат бұрын
When the imf recommends it that's how you know its... great, really great.
@riccardo-964
Сағат бұрын
Do you need money for the electricity bills, lads?
@233kosta
2 сағат бұрын
This government is an omnishambles.
@Andrew-rc3vh
2 сағат бұрын
It is hard to see things when you are stupid. When you are smart though it all becomes clear. The answer to the issue in the intro is greater productivity via automation. This causes more work to be done per person. Think of it this way. You are a workman and you need to drill some holes. How long will that take. The answer is it depends on the tool you use and it would be a lot longer with a hand drill. So now the hard of seeing can hopefully see. You want it done twice as fast. You don't necessarily need twice the people at twice the labour cost. That's the dumb way of looking at it.
@General_Ward
2 сағат бұрын
Well GDP growth is disproportionately affecting the American economy, hence the "K" recovery. Next, nobody knows what's coming. American politicas are shifting which has pretty big implications. If business and labor end on the same side there will be very large changes across the board moving forward. These are complex ideas I have no ability to tease out here.
@twidiot
3 сағат бұрын
I was thinking the final and desperate measure was to make an only fans account
@AbdulGoodLooks
2 сағат бұрын
I mean OnlyFans *is* a British Company after all...
@ryandanngetich2524
Сағат бұрын
@@AbdulGoodLooks Wooah I never heard of this before, it is like when I knew PH was Canadian
@highbury1972
2 сағат бұрын
I read UK is losing £40 Billion PA in lost revenue because of Brexit.
@ryandanngetich2524
Сағат бұрын
AAH just let it rest with BREXIT, were tired of this nonsense
@highbury1972
Сағат бұрын
@@ryandanngetich2524 well if it causes a £40 Billion PA black hole , then it needs to be addressed. It’s like saying I’ve got a huge wound on my leg…. Don’t worry I’ll just put a plaster on it! Ffs.
@imconfused1237
28 минут бұрын
@@highbury1972 It’s actually £100b a year. Those who championed it would rather everyone stopped talking about it because … it has royally shafted the UK economy. They are too proud to admit their mistake and poor judgement even though its consequences were all foreseen and foretold. This, if you will recall, was dismissed and belittled as “project fear”. Only an economic fool would intentionally disrupt trading ties with your closest market and biggest customer and yet … that’s exactly what the UK did. History will record that decision as the most monumental act of self-harm ever inflicted. It has evaporated £100 Billion a year from the UK economy and those who voted for Brexit are still scratching their heads. What is the term? Ah yes ‘useful idiots’.
@purpledevilr7463
Сағат бұрын
4:37 something reform proposed. “But it’s something quite a lot of serious people also think is a good idea” Bias.
@mrs9305
3 сағат бұрын
Start selling British museums stuff. Will get rid of debt easily
@ryandanngetich2524
Сағат бұрын
3 year old thinking
@0Edm0
33 минут бұрын
Just get more income from huge fine to crime, create a Singaporean-style zero crime tolerance society to promote businesses. Put the police under HMRC to generate revenue.
@MikesGlitch
Сағат бұрын
I wish I could redefine debt
@TurielD
2 сағат бұрын
I already love persnuffle
@marekmackiewicz2854
5 минут бұрын
Why do you guys, like other journalists, not say anything about the calculation by one of the unions (unite, I think), which demonstrated that an emergency 1% tax on assets above £4 million would raise £25 billion, plugging the £22 billion black hole and leave £3 billion to spare? As this is a one-off, extremely small tax put on very wealthy people, there's little consequences of going ahead with it. Except, of course, annoying donors. But what does it say about our political system if giving 1% off of significant assets is too controversial to even be on the table?
@ecaeas4439
3 сағат бұрын
The majority of the public has a very shallow understanding of the economy. But they are aware of the "traditional warning signs" for economies from years of dumbed down delivery of overly-simplified or downright disingenuous talk about debt and public finance. The Conservatives worm their way back into power, mostly after periods in which there's an economic downturn globally, where the media blame it on Labour accumulating too much debt with "socialist policies". Even post 2008, the Uk's debt to GDP was nowhere near the over 100% it is now. It was below 50%. After the bank bailouts, it was touching 70%. Other "comparitor" countries like france and Germany already had a higher debt to GDP ratio prior to 2008, and had to undergo similar scales of bank bailouts funded through largely borrowing. Compared to the UK, France and Germany have had over time, higher public investment in the economy and better funded public services, and have reaped rewards out if it as a result. Albeit for most of the last 2 decades they've had higher debt to GDP ratio than the UK (that's now quickly changing as our Debt to GDP is going whacky) but accumulating publicly-owned debt through our central issuing bank to invest in the future of the economy is no bad thing. In fact, it's exactly what the government needs to do to guarantee long-term stability. Look at the shape this country is in now after a period of 14 years in which we were gaslighted that we had to make tough choices because our debt was bad and cuts had to be made. It never achieved anything except misery.
@danielwebb8402
2 сағат бұрын
UK debt to gdp is currently 3rd lowest in G7. It was worse (higher) than that in 2010.
@AndyM_323YYY
2 сағат бұрын
We will get a bad return on any investment as long as we stay on the wrong side of the EU's trade barriers.
@davidhayman7623
Сағат бұрын
Heres a radical idea, how about we have a progressive tax system which taxes people proportionally to there income, and generates social equity by expecting those with the broadest shoulders to carry the most weight and punishes those fail to meet their tax obligations. Na why would we want that?!?! lets just slap it on a credit card and call it a day! So we dont have to have that awkward conversation.😂
@MegaMURRAY123
3 сағат бұрын
Put a light on your room stop acting like a gremlin
@sainsburys.
Сағат бұрын
And ringing the BeEel
@Corporal-cain
2 сағат бұрын
Need remember labour got ton money don’t blow in one go don’t see another 2008 financial crash with gen z 😂
@lee80us
3 сағат бұрын
national debt will establish a sound public credit… every country thinks like this and do it in different ways austerity orrrrr massive spending
@HypaxBE
3 сағат бұрын
YTIRETSUA SEICILOP
@JanaAllegrucci
3 сағат бұрын
Thank you for your videos! They are always so high quality and interesting. I can see that you are professionals.⚡️🎣🦁
@SaintGerbilUK
3 сағат бұрын
Didn't Zimbabwe try this. I'm sure it will work this time...
@Baxwell.
3 сағат бұрын
@@SaintGerbilUK If you honestly think that then you have a worryingly shallow understanding of the subject. You think you're being clever but you're just showing your ignorance.
@SaintGerbilUK
2 сағат бұрын
@@Baxwell. Printing money endlessly creates inflation, "fixing" inflation by getting more debt and more inflation is how you get hyperinflation. Thats what killed Zimbabwe, economically speaking. They went from having a 100 ZWD note to having a 15 trillion ZWD note and you still couldn't buy a loaf of bread with it.
@Thermalions
2 сағат бұрын
1:02 Sounds like the typical Greens economic policies. "We're going to invest (irresponsibly) in green infrastructure. We're going to cut taxes. We're going to increase spending on green (sounding) initiatives (so long as you don't look to deeply) and increase support for all the minorities (that might vote for us)." "We also don't have to balance the budget result of our promises (or the power grid supply/demand) as we know we'll never actually get into government, and surprisingly our supporters still haven't worked out we're full of crap."
@trustthedogsheneverlies644
Сағат бұрын
Changing definitions as if it changes reality... Living a lie then.
@MrRokkit
2 сағат бұрын
*Please don't!* Labour: _"We'll grow the economy by spending"_ Tories: _"We'll grow the economy by tax cuts"_ Yet the % of GDP we spend on interest repayments have been increasing for the last 50 years!! Where does it end??
@CptMark
2 сағат бұрын
When the electorate start voting for less spending and less regulation.
@MrRokkit
2 сағат бұрын
@@CptMark fair point. Regulation is almost the missing dimensions for the popular debt/tax/spend triangle! But, just like spending it comes down to bang-for-your buck. I.e. I don't want to be sold defective or dangerous goods
@James-tv4pl
2 сағат бұрын
@@CptMark less regulation leads to GDP increasing, but that extra GDP goes nearly entirely to the rich. Look at the US: less regulation has allowed its economy to grow far past Britain, yet the average American isn't much better of than the average Brit
@northernnaysayer1240
Сағат бұрын
Ah yes. Let's reduce the already crumbled public amenities and services and then let the super rich earn more with more risk to the workers safety and zero benefit to the worker. That's not a recipe for complete disaster or neofeudalism. God, you free market fundamentalists are so one dimensional. @@CptMark
@jamesclarke5331
2 сағат бұрын
This is basically what the rich do. I.e. the interest rates are cheaper than the value of the assets.
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