Bad recording. Always like that.

Show the F***ING CHARTS!!!

The slides and charts are included from minute 9 onwards

I like Mark, but I can get away with just listening to him. I’d love to see the graphs he keeps referring to

And they tell us we can't run our own country strange that don't you think ?

I would say it's got something to do with growing up with little and having to tightly buget. Although not so sure these days.

They are hacks who are told to record but have no concept of why anyone would record this 'strange ritual'.

typical lefty, they know all the problems. they cant handle the reality

​@LaMortEtLamour listen to all of it your statement does make any sense he's not left or right he's not even one of these silly economist that use non sensical assumptions he's an political economist in the form that it was meant to used as social science he is essentially believes capitalism is the bright system but its not working correctly due to rigged markets and poor thinking by elites & politicians due to either idiotic logic or vested interests

LaMortEtLamour I agree but the problem is there are many different forms of capitalism we are currently using a form capitalism that was once described as voodoo economics and was out on the fringes. But regan and thatcher made it main stream it doesn’t work it never will. Before that there mainly in the USA capitalism that was highly regulated and a tax system on top earners that forced them to invest there capital rather than horde it. But these laws have been scrapped weakened and eroded. I think that we should not be choosing one system over another. There are pro and cons to capitalism as well as the there are pros and con to socialism we should be making a new system fit for our times which uses the best practice from all systems we current use get rid of the bad bits. And inform all the politicians that the regulations are there for reason and when remove bad things happen

LaMortEtLamour I completely agree but I believe the solution is private sector capitalism which through high taxation pays for social schemes like free heath care and including anything else which is for the public good like utilities and public transportation. The high taxation along with other laws needed like anti monopoly laws and cooperations to have a social responsibility rather than just shareholders interest would force the private business to invest and innovate and they would not exists unless the where creating wealth that benefits society. This a away of keeping the only good points of capitalism without the down sides. Also making private business worker owned cooperatives would stop the problem of inequality. Communism (state run capitalism) didn’t work capitalism doesn’t work when left unchecked and socialism in it truest form has its on problems. So any option you use has pro’s and con’s but one thing they all need is checks and balances to offset the problems they cause which is the responsibility of the government. If you allow private money in elections it will happen. same as socialist society have problems with power structures and vested interests no system is perfect the only way to limit the downsides is to give as much power as possible to as many people as possible

@Martien de Jong no we shouldn't stop trading but we should have a look at the system that is currently in place as it is obvious it is not working. Everyone cannot be the CEO, everyone cannot start a company or who would do the labour? the wealth needs to be shared and people need to be incentivised (normally with a decent wage/ bonus or health package) why should the CEO make 300 times more than a skilled worker? www.payscale.com/data-packages/ceo-pay They need each other and one cannot function without the other the playing field needs leveled.

Everyone borrows because money is cheap - rise in private debt but also rise in profits due to globalization and wages growth slow down

Yeah, agreed. I hear him claim al kind of stuff but the proof is out of view.

the graph shows that throughout history the normal is low interest rate but we build our system and try to prevent a situation that only happened once and looking at the whole of history it was a very small blip

high wages in US makes it hard to capital to get returns on lower tier (not high tech) manufacturing, returns are low meant that these capital will have to eventual fly out of US, should be size be big enough, and China continue to rebalance its import/export differential, the demand for dollar might go down to the point, which means that US don't get to enjoy reserve currency status anymore, if EU intergrates further, and China expands its RMB sphere to EMEA due to necessity (well I mean, you can't rely on a smaller economy's currency to denote your own exports and imports), and the dollar hegemony could collapse, if that's the case, the US international power is going to be very constrained, well becuase then US can't put up sancations left and right becuase no one will use your currency as reserve currency anymore. In that case, US could take back or even retain some manufacturing out of necessity, but high wages mean price will likely be higher, if that would be the case, US would look to post near permanent tariff to make sure that imports don't destory these jobs again, at the expense of the consumers anyways.

Next independence for every house and every toilet stall.

"Next independence for every house and every toilet stall" If your nation is a house or a toilet stall, then yes you and your house/toilet have the right of self-determination. But what you are doing there is a fallacy, *reductio ad absurdum* . Trying to show as an absurd the independence of a nation of around 7.000.000 people or that a place with 10.000 can't decide either to be with Spain, Catalonia, France, in an association with either one of those or alone (it wouldn't be de country with less population of the world).

RocKcs you don't really understand how this EU thing works, do you, lol

I have a Political PhD of course i know how it works, lol.

RocKcs i need to have a word with the people that gave you that degree then. Because you're spewing kindergarten nonsense..

Maybe thats the joke? Its tbe economy stupid

17ish minutes of academic thinking and you come out with that?

In his other talks he calls it a con. But if you’re going to try to break through to the Global Elite here, you need to talk to them like people, not morally lecture them.

I would say 99.9% against the corporate 0.1%. Many made it into the 1% through hard work.

66 people control 45% of the world's wealth. THE WORLD's wealth. this is beyond 100% partitions. It's like 0.000000000001% vs the rest.

Pretty sure he makes that exact point re: this is a left and right and everything in between issue.

No...populism is people assuming the answer is simple when it is not. Populism is average people who are half as smart as they think they are trying to fix a mess that other people half as smart as they think they are created, with the wrong answers. Populism is looking backwards for answers. It NEVER works, and most of the time leads to lots of people dying.

@@shooter7a so from Reagan on we've had those smart people and the people have been demonitized. Working people the most.

The Lannisters are bankrupt and haven't paid Bronn.

Well, he's not wrong.

Would it be better if inflation would be that high to eat the debt away?

"Raise the inflation to eat debt, and then raise income to make dept." Mathematically that doesn't make sense to me.

Ok, it seems to me, we don't talk about the same kind of dept.

He is right.

Peter Schiff is an idiot, a blind squirrel who once found a nut. He has been predicting inflation for 10 years now. As for it being planned...the people in charge were also idiots. They had no clue. It was 1922-1929 all over again. That makes you an idiot too.

Michael Davison it’s not a stand up routine for Christ’s sake.

I think you've got it all wrong. I think most of the people there understood exactly what he was saying. What they wanted to hear was, "How do we get the plebs to shut up so we can continue to buy a new yacht every other year?" Instead, Dr. Blyth told them, "Keep this up, and you'll be dead, so you won't *need* a new yacht every other year."

No....it is you that has not studied history, or studied human nature. You have to understand how criminally idiotic mainstream economists are. Explain why it would be in the Central Banks interest to have Trillions in crap assets (loans) on their books? WHY? How is that good for anyone? You can not show it. Somehow from WWII to 1970, two major fallacies arose in the Mainstream Economic theory. #1 -"The economy seeks equilibrium." This is nonsense. It was established as the dominant model simply because economists are too stupid to deal with dynamics and differential equations. History shows us it does not do that. A market economy with poorly regulated banking (loan extension) is inherently UNSTABLE. #2 - "The extension of bank credit has no impact on overall demand in the economy." This is criminally stupid. There is a nearly 90% inverse correlation between private sector credit growth and unemployment. GDP growth is also nearly 90% correlated to private sector credit growth. Yet major in economics today, and you will be taught that banks are only intermediaries. IT IS INSANE. Imagine going to a MD for leukemia, and being told leached and bloodletting were the best treatment. This is the state of NeoClassical Academic Economics. So you have a system where since 1960-1970, people were educated by idiots as to how the economy worked. 2008 was the result. It was not planned event...it was delusion and stupidity. YES...they really were that stupid.

Nope. People are that stupid. There is a rationale for regulating capitalism that Neoliberalism rejects. It sees market capitalism as a self-regulating mechanism, which government regulation throws a spanner in. 2009 proved how daft and overly simplistic that perspective is. Human greed and folly can never be eradicated. So, any institution if the right conditions are in place can screw things up. And we had the perfect conditions for it to happen in 2009. Little or no effective regulation, lots of money sloshing around in global markets, the evolution of financial instruments barely understood by those using them or the regulators, and greed. The banks wanted to make more profit, and they could only do that by increasing their risk. So, as the established housing market was saturated, they had to go sub-prime. To offset their risk, they wrapped up the riskier mortgages with a layer of triple a mortgages and sold them onto investors, who in turn sold them on. As the market for such investments is now global, inevitably, the chickens came home to roost. One can only rewrap poop for so long, and when those high risk mortgages defaulted, the banks were left with poop. Why did they do it? Increasing sales of mortgages meant everyone getting a cut got richer. The credit ratings industry, the banks, the investment brokers. They thought they could avoid holding the poop by selling them onto investors who thinking they were holding triple A investments, who bundled them and sold them on. Everyone was acting rationally, except for thinking they could avoid risk completely by finding greater fools than themselves. They did, but the integrated nature of the global financial system meant, the chickens came home to roost. Now regulation is in place to inhibit such cupidity, but consumer banks are slowly going out of business, because consumers have only debt nowadays, and that is becoming a problem, which will have to addressed sometime in the future. I would avoid investing in consumer banking if I were you.

Jordan Peterson would win over Blyth

Sam Freeman A professor of International Political Economics vs a psychologist. As someone with a background in psychology I can assure you that when it comes to the global economy Blyth would run circles around Peterson.

JB is an intellectual imposter since he talks about about stuff he knows nothing about. he is only a psychologist not economist

@@garylake8654 Cheers. Question though, as the middle class rises in the East (and maybe even the global south), wouldn't it start another race to the bottom for companies looking for cheaper labor? Where do they turn to next? And wouldn't that eventually mean similar rising inequality in the East?

@@louiswilliamson5937 Yes, that is what will occur in theory. I guess Africa is the final significant labour pool left. However, I suspect that robotics will be the exploited before its Africa's turn, and there lies a different challenge, as robots do not consume things, so they do not create new markets, they just destroy old markets. Its only around eight generations ago that more than half the people in the Western Economies were invloved in farming, so things can change very quickly. Personally, I cant see anything other the wealthy getting richer in the next four generations, and that is not a sustainable or palletable back drop for the democratic concept of one person one vote. If only economists could model future events without having to use the past events as a guideline, then we would be motoring, but of course, the economists would then rule the world, they would be chemists rather than the alchemists that they currently are.

@@louiswilliamson5937 Surprisingly, no as the Chinese Communist Party has no interest in importing unemployment, so they are investing in infrastructure at home, which with the mess made by importing all the West's dirty industries should keep them going for quite a while.

I listen to MB for a while and this is the dumb version.

Can you translate your comment into a coherent form of English?

Normal people just power cycle it and hope that it doesn't happen again.

K Dave Word!

A BSOD is usually software issue, idiots. You don't replace the hardware

Not really, usually hardware issues. if it was a software issue, the computer wouldn't have to bluescreen.

weejockpoopongmcplop "Er...no. No, you don't." You do if the crash is due to a hardware fault, which was the analogy he was using... Power cycling aint gonna fixed a fried CPU lol.

There is nothing wrong with a system based on debt, so long as you regulate how new loans can be justified. If you extend new loans on the basis of asset values, you set up a positive feedback loop. If you extend debt based on underlying cash flows or economic value, everything works AOK. It is simple...at least if you are a mathematician or engineer. Economists (mainstream neoclassical) are just not that smart.

The flooding of Non-Whites into (majority) White nations destroys the peaceful nature of more homogeneous group's lives. Racist? Yes. Multicultural society is actually an Anti-White used to control the narrative.

gromitson kauzarious loving your people is not fascism.

And the people who want to live in a multicultural society are supposed to do what, then? Become nomads? The idea that every ethnic group wants to live with their own is a mere projection of a view onto others. “I want strawberry, therefore everyone wants strawberry/should want strawberry” argument. I one wishes to isolate oneself from other people, on the other hand, it is easily achievable.

You're assuming that racism isn't natural, and that what's natural is necessarily good. Cancer is natural. How good would you say cancer is? Cyanide is also natural. Or, if we're talking about behaviours here, so is the impulse for vengeance, jealousy, envy, greed. Humans have all these objectively terrible natural impulses, but this is irrelevant to the discussion over what behaviours are good or bad. We're as naturally capable of evil as we are of good. That doesn't mean it's OK to give in to those evil impulses. Your basic assumptions are false. Your argument falls with them.

So what happens when a "multicultural society" becomes a society of undiverse immigrants as is happening all across Europe due to illegal immigration non white racism and rampant corruption. If you want to talk about racism look at the tribalism amongst blacks and muslims in western world society. The OJ Simpson trial or the "black vote" in America for example. But hey keep drinking the kool aid you sanctimonious virtue signalling white genocide deniers. As Gaddafi warned, There are signs that Allah will grant Islam victory in Europe without swords, without guns, without conquest will turn it into a Muslim continent within a few decades.

what flaws?

More likely is you.

and also they won't.

oooooh yes they will. Depending on who's problems you care about.

Sanders, Corbyn, Syriza etc... sure love globalism. Have you even paid a little bit attention for the past years?

That’s just the right-wing propaganda you’ve had pounded into your head, so that you’ll blame socialism and immigrants for our problems instead of the oligarchy - the people with all the $ and power. The farther left you go, the more nationalism/economic protectionism you’ll see. The farther right you go you’ll also see nationalism, blaming the “other” instead of the people with power.

Immigrants have caused all the problems, schools, NHS, police, housing every part of our infrastructure is at breaking point. And if you sanctimonious leftie arseholes care about climate change and the environment more people from over populated countries is not a good idea. The only people brainwashed are you TV worshipping virtue signallers. The banks and their media used the left to create more money and slaves and now its gone too far it's crippling all of us. If you keep picking on the good quiet kid he will grow into a pissed off had enough adult. And its very ignorant to think higher skilled immigrants should leave the countries where they are needed so you can pretend to see the benefit instead of the greed, think of all the people that could benefit from the high skilled immigrants in their home countries. And globalism is right ideology, you bell end, globalism can't be called globalism when really it's the third world consuming the western world. You can call globalism white genocide. But you cowardly back patting traitors of humanity and reality are only programmed for suicide.

Yep i disagreed with him on that. The regular left love open borders and globalism. The hard-left like Corbyn less keen on globalism as it ties into capitalism. Different fights. Same as the anti-capitalists and pro-union (ultimately capitalists) people now at war in UK Labour.

Hooky you need to get out more.

I love your comment. "We don't let you know who we are, because you're too weak to handle reality." Spot on.

Sounds like you have money in the market, which about 80% of Americans have precious little of, or you're just a career ideologue holding on to the desperate hope that one day you have. How's capitalism working for you Patric?

We don't let you know how many socialists are still around because you're too weak to handle reality. :)

+Patric M. What village has you as its idiot?

Matthew McVeagh More like if the socialists let people know who they are they'll be killed.

By turning everyone into skeletons no doubt.

Roman Darius who is we? Speak for your ( minority ) self, nazi !

cr4yv3n----if you want to live with non-whites, get your ass over to Africa! By the way, what do you think about the South African Government pushing out the whites?? Is that racist? Or do you call only white people the (R) Word?

Roman Darius wait so i live in Europe and you do too but for some reason your ideology is the one the country should follow? Reality check. You are a minority and if you don't stop this racist shit socoety will "handle" you. And if not. Then other countries will. Nazi Germany learned that the hard way.

cr4yv3n---R U Black??? Why not try living with your own kind? Stop crying to be around us white people! You blacks are the boo...hoo.....people, you never stop crying racism (as if we care) and you never stop crying to be around us!!!