Economics 101 -- "How the Economic Machine Works."
Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, "How does the economy really work?" Based on Dalio's practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur.
To learn more about Economic Principles visit: http://www.economicprinciples.org.
[Also Available In Chinese] 经济这台机器是怎样运行的: http://www.youtube.com/watch?v=-ZbeYejg9Pk
[Also Available In Russian] Как действует экономическая машина. Автор: Рэй Далио (на русском языке): http://youtu.be/8BaNOlIfMLE
A video looking at way you can't simply print money to pay off debt. And what has happened when countries have tried to! And for that matter why a country having debt isn't necessarily a bad thing. The only reason the US has the most debt is because the US dollar is considered the most trust-worthy currency and other countries see the US as a safe place to put their money.
It would be worse it countries started buying debt of other countries and stopped putting into the United States. The debt may be a lot but it's actually not something that's an issue. The US will never 'pay-off' its debt because that's not how it works.
National debt only becomes an issue if GDP isn't growing, which it is. A more accurate way to see when the debt is an issue is the debt-GDP ration. In which the US is fine in that respect. Whereas Greece and Japan have debt-GDP ratios of over 150%, which is bad.
Also, keep in mind that the US owns debt of many other countries. In fact, for every $1 of US debt, the US holds $0.89 of foreign debt.
Note: if you're having trouble understanding the whole 'long-scale' and 'short-scale' talk then please read this Wiki article: http://en.wikipedia.org/wiki/Long_and_short_scales
Hammock Fight - Kevin MacLeod - (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0
White House: Matt Wade - http://en.wikipedia.org/wiki/User:UpstateNYer
Assortment of Money - epSos.de
Taki Steve (http://www.flickr.com/photos/13519089@N03/)
(I wrongly credited ZeroOne in the video for the image of the Zimbabwean dollars, it's actually from Wikimedia Commons, and in the public domain)
Hyperinflation - http://en.wikipedia.org/wiki/Hyperinflation
Hyperinflation in Zimbabwe - http://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe
Zimbabwean Dollar - http://en.wikipedia.org/wiki/Zimbabwean_dollar
Hungarian Pengo - http://en.wikipedia.org/wiki/Hungarian_pengo
Names of large numbers - http://en.wikipedia.org/wiki/Names_of_large_numbers
Helpful YouTube videos:
'Who much money is there in the world' by Vsauce - http://www.youtube.com/watch?v=w2tKg3E53DM
'Understanding the National Debt and Budget Deficit' by John Green of the Vlogbrother - http://www.youtube.com/watch?v=3ugDU2qNcyg
Clip art from http://www.clker.com/
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