Your Taxes Pay for Nothing PEGS Institute 2020-10-11 | They never have and they never will. Nobody likes paying taxes, so if the government doesn’t spend your taxes, what are taxes for? This video busts a few myths about how taxes work and explains some of the real uses of tax in modern economies. Come discuss this with us on:Twitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:Taxes are for Redemption, Not Spending - L. Randall Wrayhttp://wer.worldeconomicsassociation.org/files/WEA-WER-7-Wray.pdfColonial Virginia’s Paper Money Regime, 1755-1774: a Forensic Accounting Reconstruction of the Data - Farley Grubbhttps://lerner.udel.edu/sites/default/files/ECON/PDFs/RePEc/dlw/WorkingPapers/2015/UDWP2015-11.pdfThe Deficit Myth - Stephanie KeltonPodcast with Alan Kohler and Professor William Mitchellyoutu.be/9ldmpmVfSoMCreditsWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by www.wishforge.games, Charlie, icon king1, Free Preloaders, Raj Dev, Muhammad Haq from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicA Stranger Thing by Bruno E and Drive by TrackTribe
A Government That Issues Its Own Currency Cannot Owe a Debt to Itself PEGS Institute 2024-03-31 | A short clip from a longer video: youtu.be/tvgKbSuI5kYOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:In any modern economy, there is an important distinction to be made between currency issuers and currency users. Currency issuers are governments that issue their own currency by decree of the state and currency users are everyone else in the economy that does not have the capacity to create or issue their own currency. Currency users include households, individuals and businesses. In this video we go into the details about the distinctions between currency issuing governments and currency using governments. We look into how this affects countries that use the Euro and also look at how pegging their currency to the US Dollar contributed to hyperinflation in Venezuela. Note: The video lists China alongside other nations that issue their own currency. China does issue the Renminbi, denominated in Yuan, but it should not be inferred that China operates with a floating exchange system. Chinese currency is pegged to the value of the US Dollar in a unique operation. tandfonline.com/doi/full/10.1080/10971475.2016.1159905Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonEverything You Want to Know About Modern Monetary Theory by L Randall Wray | Bloomberg Markets and Finance - youtube.com/watch?v=7sd-ElKMbPIManhattan Project to prevent Hyper-Inflation by J.D. Alt - neweconomicperspectives.org/2020/03/manhattan-project-to-prevent-hyper-inflation.htmlThinking in a Modern Monetary Theory Way by Professor William Mitchell - youtube.com/watch?v=MLKrBsTQntAWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by www.wishforge.games, Charlie, icon king1, Free Preloaders, Raj Dev, from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicPixelated Autumn Leaves by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Liberal Prime Ministers Aint What They Used To Be PEGS Institute 2024-03-29 | A short clip from a longer video: youtu.be/BSNmNTl_BZoOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:Australia’s gross household debt to income before tax ratio is the second highest household debt burden in the world. But how did Australian households become so indebted and what will this mean in the coming months and years?Research from the Reserve Bank of Australia shows average personal debt more than doubling from $106,000 in 2001, to $350,000 in 2019. Average mortgage debt among older Australians has blown out by 600 per cent since the late 1980s, and that’s after accounting for inflation. We should not allow ourselves to forget that in practice, the government taking a larger share of the debt burden has led to better outcomes for the Australian people than austerity principles that heap the debt burden onto households, and businesses. It is hard to say that the government is effectively serving the people when now, more than ever, Australian families are suffering under the weight of unsustainable private debt. The security provided by the government deficit approach enables a brighter future for Australian households, families and businesses.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:Total Credit to Private Non-Financial Sector, Adjusted for Breaks, for Australia - Federal Reserve Bank of St Louis - fred.stlouisfed.org/series/QAUPAM770A https://www.abc.net.au/news/2019-10-18/household-debt-leaves-australians-working-longer-spending-less/11608016https://www.abc.net.au/news/2019-08-27/mortgage-debt-causing-older-australians-distress-study-finds/11450958https://www.abc.net.au/news/2016-06-17/fact-check-is-wage-growth-lowest-on-record/7505512?nw=0https://www.abc.net.au/news/2020-08-30/liberal-party-of-robert-menzies-proudly-delivered-large-deficits/12609876The Deficit Myth by Stephanie Keltonhttps://www.businessinsider.com.au/australias-household-debt-is-now-one-of-the-highest-in-the-world-2018-1https://www.abc.net.au/news/2018-01-18/household-debt-extremely-elevated-and-tipped-to-grow/9340880https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1819/WageSlowdown Credits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicPassage by Ugonna OnyekweA Rising Wave by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
The Big Scary Debt is Not What You Think PEGS Institute 2024-03-27 | A short clip from a longer video: youtu.be/mEwivQeD0Q8OrWatch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:There is often a lot of alarm and anxiety when we talk about a country’s government debt, but as we will learn, this fear of government debt, sometimes referred to as public debt or the national debt is completely unfounded. When politicians and journalists talk about the government debt or the public debt or the national debt and the big scary number that we are often told is unsustainable, it is important to remember that this outstanding debt is not a debt to our children or our grandchildren. The government’s debt is simply factored into the Federal budget each year when bonds from previous years mature, meaning the bond holder has their investment returned to them, with interest. Paying off this so-called debt is as simple as crediting accounts at the central bank. So the next time a politician tries to equate the government’s debt with your own household debt by arguing the currency-issuing government ‘needs to tighten its belt’ and ‘live within its means’, you know that they are making a political decision not to spend and that it has nothing to do with their ability to pay for anything the Government could want.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonReclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World by William Mitchell & Thomas FaziPodcast with Alan Kohler and Professor William Mitchell - youtube.com/watch?v=9ldmpmVfSoMWhy Do Currency-issuing Governments Issue Debt? - Part 1 by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=45106If You Think You Know What ‘Debt’ Is, Read On by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=24850How the Reserve Bank Implements Monetary Policy - Reserve Bank of Australia - youtu.be/1bBizpkB8dUTreasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 1) - youtu.be/70oxUtzdrecHail, S. & Joy, D. (2020). Federal Debt and Modern Money. Global Institute for Sustainable Prosperity. Policy Note No. 121 global-isp.org/policy-note-121Special thanks to Dr Steven Hailtwitter.com/StevenHailAusCredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioTank icon by Freepik from flaticon.comConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicLonely Troutman II by William RosatiOrison by Dan Bodan1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
How the Euro Constrains Europeans PEGS Institute 2024-03-25 | A short clip from a longer video: youtu.be/tvgKbSuI5kYOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:In any modern economy, there is an important distinction to be made between currency issuers and currency users. Currency issuers are governments that issue their own currency by decree of the state and currency users are everyone else in the economy that does not have the capacity to create or issue their own currency. Currency users include households, individuals and businesses. In this video we go into the details about the distinctions between currency issuing governments and currency using governments. We look into how this affects countries that use the Euro and also look at how pegging their currency to the US Dollar contributed to hyperinflation in Venezuela. Note: The video lists China alongside other nations that issue their own currency. China does issue the Renminbi, denominated in Yuan, but it should not be inferred that China operates with a floating exchange system. Chinese currency is pegged to the value of the US Dollar in a unique operation. tandfonline.com/doi/full/10.1080/10971475.2016.1159905Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonEverything You Want to Know About Modern Monetary Theory by L Randall Wray | Bloomberg Markets and Finance - youtube.com/watch?v=7sd-ElKMbPIManhattan Project to prevent Hyper-Inflation by J.D. Alt - neweconomicperspectives.org/2020/03/manhattan-project-to-prevent-hyper-inflation.htmlThinking in a Modern Monetary Theory Way by Professor William Mitchell - youtube.com/watch?v=MLKrBsTQntAWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by www.wishforge.games, Charlie, icon king1, Free Preloaders, Raj Dev, from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicPixelated Autumn Leaves by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
The Real Cause of Hyperinflation in Venezuela PEGS Institute 2024-03-23 | A short clip from a longer video: youtu.be/tvgKbSuI5kYOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:In any modern economy, there is an important distinction to be made between currency issuers and currency users. Currency issuers are governments that issue their own currency by decree of the state and currency users are everyone else in the economy that does not have the capacity to create or issue their own currency. Currency users include households, individuals and businesses. In this video we go into the details about the distinctions between currency issuing governments and currency using governments. We look into how this affects countries that use the Euro and also look at how pegging their currency to the US Dollar contributed to hyperinflation in Venezuela. Note: The video lists China alongside other nations that issue their own currency. China does issue the Renminbi, denominated in Yuan, but it should not be inferred that China operates with a floating exchange system. Chinese currency is pegged to the value of the US Dollar in a unique operation. tandfonline.com/doi/full/10.1080/10971475.2016.1159905Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonEverything You Want to Know About Modern Monetary Theory by L Randall Wray | Bloomberg Markets and Finance - youtube.com/watch?v=7sd-ElKMbPIManhattan Project to prevent Hyper-Inflation by J.D. Alt - neweconomicperspectives.org/2020/03/manhattan-project-to-prevent-hyper-inflation.htmlThinking in a Modern Monetary Theory Way by Professor William Mitchell - youtube.com/watch?v=MLKrBsTQntAWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by www.wishforge.games, Charlie, icon king1, Free Preloaders, Raj Dev, from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicPixelated Autumn Leaves by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
What If the Government Didnt Issue Debt? PEGS Institute 2024-03-21 | A short clip from a longer video: youtu.be/mEwivQeD0Q8OrWatch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:There is often a lot of alarm and anxiety when we talk about a country’s government debt, but as we will learn, this fear of government debt, sometimes referred to as public debt or the national debt is completely unfounded. When politicians and journalists talk about the government debt or the public debt or the national debt and the big scary number that we are often told is unsustainable, it is important to remember that this outstanding debt is not a debt to our children or our grandchildren. The government’s debt is simply factored into the Federal budget each year when bonds from previous years mature, meaning the bond holder has their investment returned to them, with interest. Paying off this so-called debt is as simple as crediting accounts at the central bank. So the next time a politician tries to equate the government’s debt with your own household debt by arguing the currency-issuing government ‘needs to tighten its belt’ and ‘live within its means’, you know that they are making a political decision not to spend and that it has nothing to do with their ability to pay for anything the Government could want.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonReclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World by William Mitchell & Thomas FaziPodcast with Alan Kohler and Professor William Mitchell - youtube.com/watch?v=9ldmpmVfSoMWhy Do Currency-issuing Governments Issue Debt? - Part 1 by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=45106If You Think You Know What ‘Debt’ Is, Read On by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=24850How the Reserve Bank Implements Monetary Policy - Reserve Bank of Australia - youtu.be/1bBizpkB8dUTreasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 1) - youtu.be/70oxUtzdrecHail, S. & Joy, D. (2020). Federal Debt and Modern Money. Global Institute for Sustainable Prosperity. Policy Note No. 121 global-isp.org/policy-note-121Special thanks to Dr Steven Hailtwitter.com/StevenHailAusCredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioTank icon by Freepik from flaticon.comConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicLonely Troutman II by William RosatiOrison by Dan Bodan1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Government Spending is Public Savings PEGS Institute 2024-03-19 | A short clip from a longer video: youtu.be/BSNmNTl_BZoOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:Australia’s gross household debt to income before tax ratio is the second highest household debt burden in the world. But how did Australian households become so indebted and what will this mean in the coming months and years?Research from the Reserve Bank of Australia shows average personal debt more than doubling from $106,000 in 2001, to $350,000 in 2019. Average mortgage debt among older Australians has blown out by 600 per cent since the late 1980s, and that’s after accounting for inflation. We should not allow ourselves to forget that in practice, the government taking a larger share of the debt burden has led to better outcomes for the Australian people than austerity principles that heap the debt burden onto households, and businesses. It is hard to say that the government is effectively serving the people when now, more than ever, Australian families are suffering under the weight of unsustainable private debt. The security provided by the government deficit approach enables a brighter future for Australian households, families and businesses.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:Total Credit to Private Non-Financial Sector, Adjusted for Breaks, for Australia - Federal Reserve Bank of St Louis - fred.stlouisfed.org/series/QAUPAM770A https://www.abc.net.au/news/2019-10-18/household-debt-leaves-australians-working-longer-spending-less/11608016https://www.abc.net.au/news/2019-08-27/mortgage-debt-causing-older-australians-distress-study-finds/11450958https://www.abc.net.au/news/2016-06-17/fact-check-is-wage-growth-lowest-on-record/7505512?nw=0https://www.abc.net.au/news/2020-08-30/liberal-party-of-robert-menzies-proudly-delivered-large-deficits/12609876The Deficit Myth by Stephanie Keltonhttps://www.businessinsider.com.au/australias-household-debt-is-now-one-of-the-highest-in-the-world-2018-1https://www.abc.net.au/news/2018-01-18/household-debt-extremely-elevated-and-tipped-to-grow/9340880https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1819/WageSlowdown Credits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicPassage by Ugonna OnyekweA Rising Wave by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
We Are No Longer On A Gold Standard, So Why Do We Still Have Government Debt? PEGS Institute 2024-03-17 | A short clip from a longer video: youtu.be/mEwivQeD0Q8OrWatch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:There is often a lot of alarm and anxiety when we talk about a country’s government debt, but as we will learn, this fear of government debt, sometimes referred to as public debt or the national debt is completely unfounded. When politicians and journalists talk about the government debt or the public debt or the national debt and the big scary number that we are often told is unsustainable, it is important to remember that this outstanding debt is not a debt to our children or our grandchildren. The government’s debt is simply factored into the Federal budget each year when bonds from previous years mature, meaning the bond holder has their investment returned to them, with interest. Paying off this so-called debt is as simple as crediting accounts at the central bank. So the next time a politician tries to equate the government’s debt with your own household debt by arguing the currency-issuing government ‘needs to tighten its belt’ and ‘live within its means’, you know that they are making a political decision not to spend and that it has nothing to do with their ability to pay for anything the Government could want.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonReclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World by William Mitchell & Thomas FaziPodcast with Alan Kohler and Professor William Mitchell - youtube.com/watch?v=9ldmpmVfSoMWhy Do Currency-issuing Governments Issue Debt? - Part 1 by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=45106If You Think You Know What ‘Debt’ Is, Read On by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=24850How the Reserve Bank Implements Monetary Policy - Reserve Bank of Australia - youtu.be/1bBizpkB8dUTreasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 1) - youtu.be/70oxUtzdrecHail, S. & Joy, D. (2020). Federal Debt and Modern Money. Global Institute for Sustainable Prosperity. Policy Note No. 121 global-isp.org/policy-note-121Special thanks to Dr Steven Hailtwitter.com/StevenHailAusCredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioTank icon by Freepik from flaticon.comConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicLonely Troutman II by William RosatiOrison by Dan Bodan1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
How Can Governments Become Bankrupt? PEGS Institute 2024-03-15 | A short clip from a longer video: youtu.be/tvgKbSuI5kYOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:In any modern economy, there is an important distinction to be made between currency issuers and currency users. Currency issuers are governments that issue their own currency by decree of the state and currency users are everyone else in the economy that does not have the capacity to create or issue their own currency. Currency users include households, individuals and businesses. In this video we go into the details about the distinctions between currency issuing governments and currency using governments. We look into how this affects countries that use the Euro and also look at how pegging their currency to the US Dollar contributed to hyperinflation in Venezuela. Note: The video lists China alongside other nations that issue their own currency. China does issue the Renminbi, denominated in Yuan, but it should not be inferred that China operates with a floating exchange system. Chinese currency is pegged to the value of the US Dollar in a unique operation. tandfonline.com/doi/full/10.1080/10971475.2016.1159905Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonEverything You Want to Know About Modern Monetary Theory by L Randall Wray | Bloomberg Markets and Finance - youtube.com/watch?v=7sd-ElKMbPIManhattan Project to prevent Hyper-Inflation by J.D. Alt - neweconomicperspectives.org/2020/03/manhattan-project-to-prevent-hyper-inflation.htmlThinking in a Modern Monetary Theory Way by Professor William Mitchell - youtube.com/watch?v=MLKrBsTQntAWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by www.wishforge.games, Charlie, icon king1, Free Preloaders, Raj Dev, from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicPixelated Autumn Leaves by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
When the Government Destroys Money PEGS Institute 2024-03-13 | A short clip from a longer video: youtu.be/kH3mNkt6ijQOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:Our governments can’t get the economy right because they don’t understand it and we can prove it. In 2007 the theory and modelling governments and economists use, all over the world, said the economy was doing fine; it was only going to go up, and a crash couldn’t happen. Then a crash happened. We call it the Global Financial Crisis. The suffering it caused was immense and still goes on today.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:No one saw this coming. Understanding financial crisis through accounting models - Dirk Bezemer https://www.rug.nl/research/portal/files/2646456/09002_Bezemer.pdfCan Goldilocks Survive? - Wynne Godley and L. Randall Wray (1999) http://www.levyinstitute.org/pubs/pn99_4.pdfModern Money Theory for Beginners - L. Randall Wray youtube.com/watch?v=E5JTn7GS4oACreditsWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, icon king1, Free Preloaders, Raj Dev from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicHeaven and Hell by Jeremy Blake
Government Surpluses Strangle Economic Wellbeing PEGS Institute 2024-03-11 | A short clip from a longer video: youtu.be/BSNmNTl_BZoOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:Australia’s gross household debt to income before tax ratio is the second highest household debt burden in the world. But how did Australian households become so indebted and what will this mean in the coming months and years?Research from the Reserve Bank of Australia shows average personal debt more than doubling from $106,000 in 2001, to $350,000 in 2019. Average mortgage debt among older Australians has blown out by 600 per cent since the late 1980s, and that’s after accounting for inflation. We should not allow ourselves to forget that in practice, the government taking a larger share of the debt burden has led to better outcomes for the Australian people than austerity principles that heap the debt burden onto households, and businesses. It is hard to say that the government is effectively serving the people when now, more than ever, Australian families are suffering under the weight of unsustainable private debt. The security provided by the government deficit approach enables a brighter future for Australian households, families and businesses.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:Total Credit to Private Non-Financial Sector, Adjusted for Breaks, for Australia - Federal Reserve Bank of St Louis - fred.stlouisfed.org/series/QAUPAM770A https://www.abc.net.au/news/2019-10-18/household-debt-leaves-australians-working-longer-spending-less/11608016https://www.abc.net.au/news/2019-08-27/mortgage-debt-causing-older-australians-distress-study-finds/11450958https://www.abc.net.au/news/2016-06-17/fact-check-is-wage-growth-lowest-on-record/7505512?nw=0https://www.abc.net.au/news/2020-08-30/liberal-party-of-robert-menzies-proudly-delivered-large-deficits/12609876The Deficit Myth by Stephanie Keltonhttps://www.businessinsider.com.au/australias-household-debt-is-now-one-of-the-highest-in-the-world-2018-1https://www.abc.net.au/news/2018-01-18/household-debt-extremely-elevated-and-tipped-to-grow/9340880https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1819/WageSlowdown Credits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicPassage by Ugonna OnyekweA Rising Wave by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
What is Government Debt? PEGS Institute 2024-03-09 | A short clip from a longer video: youtu.be/mEwivQeD0Q8OrWatch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:There is often a lot of alarm and anxiety when we talk about a country’s government debt, but as we will learn, this fear of government debt, sometimes referred to as public debt or the national debt is completely unfounded. When politicians and journalists talk about the government debt or the public debt or the national debt and the big scary number that we are often told is unsustainable, it is important to remember that this outstanding debt is not a debt to our children or our grandchildren. The government’s debt is simply factored into the Federal budget each year when bonds from previous years mature, meaning the bond holder has their investment returned to them, with interest. Paying off this so-called debt is as simple as crediting accounts at the central bank. So the next time a politician tries to equate the government’s debt with your own household debt by arguing the currency-issuing government ‘needs to tighten its belt’ and ‘live within its means’, you know that they are making a political decision not to spend and that it has nothing to do with their ability to pay for anything the Government could want.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonReclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World by William Mitchell & Thomas FaziPodcast with Alan Kohler and Professor William Mitchell - youtube.com/watch?v=9ldmpmVfSoMWhy Do Currency-issuing Governments Issue Debt? - Part 1 by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=45106If You Think You Know What ‘Debt’ Is, Read On by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=24850How the Reserve Bank Implements Monetary Policy - Reserve Bank of Australia - youtu.be/1bBizpkB8dUTreasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 1) - youtu.be/70oxUtzdrecHail, S. & Joy, D. (2020). Federal Debt and Modern Money. Global Institute for Sustainable Prosperity. Policy Note No. 121 global-isp.org/policy-note-121Special thanks to Dr Steven Hailtwitter.com/StevenHailAusCredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioTank icon by Freepik from flaticon.comConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicLonely Troutman II by William RosatiOrison by Dan Bodan1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Whats the Difference Between Currency Issuers and Currency Users? PEGS Institute 2024-03-07 | A short clip from a longer video: youtu.be/tvgKbSuI5kYOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:In any modern economy, there is an important distinction to be made between currency issuers and currency users. Currency issuers are governments that issue their own currency by decree of the state and currency users are everyone else in the economy that does not have the capacity to create or issue their own currency. Currency users include households, individuals and businesses. In this video we go into the details about the distinctions between currency issuing governments and currency using governments. We look into how this affects countries that use the Euro and also look at how pegging their currency to the US Dollar contributed to hyperinflation in Venezuela. Note: The video lists China alongside other nations that issue their own currency. China does issue the Renminbi, denominated in Yuan, but it should not be inferred that China operates with a floating exchange system. Chinese currency is pegged to the value of the US Dollar in a unique operation. tandfonline.com/doi/full/10.1080/10971475.2016.1159905Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonEverything You Want to Know About Modern Monetary Theory by L Randall Wray | Bloomberg Markets and Finance - youtube.com/watch?v=7sd-ElKMbPIManhattan Project to prevent Hyper-Inflation by J.D. Alt - neweconomicperspectives.org/2020/03/manhattan-project-to-prevent-hyper-inflation.htmlThinking in a Modern Monetary Theory Way by Professor William Mitchell - youtube.com/watch?v=MLKrBsTQntAWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by www.wishforge.games, Charlie, icon king1, Free Preloaders, Raj Dev, from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicPixelated Autumn Leaves by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Our Governments Dont Understand Economics PEGS Institute 2024-03-05 | A short clip from a longer video: youtu.be/kH3mNkt6ijQOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:Our governments can’t get the economy right because they don’t understand it and we can prove it. In 2007 the theory and modelling governments and economists use, all over the world, said the economy was doing fine; it was only going to go up, and a crash couldn’t happen. Then a crash happened. We call it the Global Financial Crisis. The suffering it caused was immense and still goes on today.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:No one saw this coming. Understanding financial crisis through accounting models - Dirk Bezemer https://www.rug.nl/research/portal/files/2646456/09002_Bezemer.pdfCan Goldilocks Survive? - Wynne Godley and L. Randall Wray (1999) http://www.levyinstitute.org/pubs/pn99_4.pdfModern Money Theory for Beginners - L. Randall Wray youtube.com/watch?v=E5JTn7GS4oACreditsWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, icon king1, Free Preloaders, Raj Dev from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicHeaven and Hell by Jeremy Blake
Private Debt Can Lead To Recession PEGS Institute 2024-03-03 | A short clip from a longer video: youtu.be/BSNmNTl_BZoOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:Australia’s gross household debt to income before tax ratio is the second highest household debt burden in the world. But how did Australian households become so indebted and what will this mean in the coming months and years?Research from the Reserve Bank of Australia shows average personal debt more than doubling from $106,000 in 2001, to $350,000 in 2019. Average mortgage debt among older Australians has blown out by 600 per cent since the late 1980s, and that’s after accounting for inflation. We should not allow ourselves to forget that in practice, the government taking a larger share of the debt burden has led to better outcomes for the Australian people than austerity principles that heap the debt burden onto households, and businesses. It is hard to say that the government is effectively serving the people when now, more than ever, Australian families are suffering under the weight of unsustainable private debt. The security provided by the government deficit approach enables a brighter future for Australian households, families and businesses.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:Total Credit to Private Non-Financial Sector, Adjusted for Breaks, for Australia - Federal Reserve Bank of St Louis - fred.stlouisfed.org/series/QAUPAM770A https://www.abc.net.au/news/2019-10-18/household-debt-leaves-australians-working-longer-spending-less/11608016https://www.abc.net.au/news/2019-08-27/mortgage-debt-causing-older-australians-distress-study-finds/11450958https://www.abc.net.au/news/2016-06-17/fact-check-is-wage-growth-lowest-on-record/7505512?nw=0https://www.abc.net.au/news/2020-08-30/liberal-party-of-robert-menzies-proudly-delivered-large-deficits/12609876The Deficit Myth by Stephanie Keltonhttps://www.businessinsider.com.au/australias-household-debt-is-now-one-of-the-highest-in-the-world-2018-1https://www.abc.net.au/news/2018-01-18/household-debt-extremely-elevated-and-tipped-to-grow/9340880https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1819/WageSlowdown Credits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicPassage by Ugonna OnyekweA Rising Wave by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Government Debt Is Not Like Private Debt PEGS Institute 2024-03-01 | A short clip from a longer video: youtu.be/mEwivQeD0Q8OrWatch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:There is often a lot of alarm and anxiety when we talk about a country’s government debt, but as we will learn, this fear of government debt, sometimes referred to as public debt or the national debt is completely unfounded. When politicians and journalists talk about the government debt or the public debt or the national debt and the big scary number that we are often told is unsustainable, it is important to remember that this outstanding debt is not a debt to our children or our grandchildren. The government’s debt is simply factored into the Federal budget each year when bonds from previous years mature, meaning the bond holder has their investment returned to them, with interest. Paying off this so-called debt is as simple as crediting accounts at the central bank. So the next time a politician tries to equate the government’s debt with your own household debt by arguing the currency-issuing government ‘needs to tighten its belt’ and ‘live within its means’, you know that they are making a political decision not to spend and that it has nothing to do with their ability to pay for anything the Government could want.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonReclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World by William Mitchell & Thomas FaziPodcast with Alan Kohler and Professor William Mitchell - youtube.com/watch?v=9ldmpmVfSoMWhy Do Currency-issuing Governments Issue Debt? - Part 1 by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=45106If You Think You Know What ‘Debt’ Is, Read On by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=24850How the Reserve Bank Implements Monetary Policy - Reserve Bank of Australia - youtu.be/1bBizpkB8dUTreasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 1) - youtu.be/70oxUtzdrecHail, S. & Joy, D. (2020). Federal Debt and Modern Money. Global Institute for Sustainable Prosperity. Policy Note No. 121 global-isp.org/policy-note-121Special thanks to Dr Steven Hailtwitter.com/StevenHailAusCredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioTank icon by Freepik from flaticon.comConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicLonely Troutman II by William RosatiOrison by Dan Bodan1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
What is a Currency-Issuing Government? PEGS Institute 2024-02-28 | A short clip from a longer video: youtu.be/tvgKbSuI5kYOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:In any modern economy, there is an important distinction to be made between currency issuers and currency users. Currency issuers are governments that issue their own currency by decree of the state and currency users are everyone else in the economy that does not have the capacity to create or issue their own currency. Currency users include households, individuals and businesses. In this video we go into the details about the distinctions between currency issuing governments and currency using governments. We look into how this affects countries that use the Euro and also look at how pegging their currency to the US Dollar contributed to hyperinflation in Venezuela. Note: The video lists China alongside other nations that issue their own currency. China does issue the Renminbi, denominated in Yuan, but it should not be inferred that China operates with a floating exchange system. Chinese currency is pegged to the value of the US Dollar in a unique operation. tandfonline.com/doi/full/10.1080/10971475.2016.1159905Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:The Deficit Myth by Stephanie KeltonEverything You Want to Know About Modern Monetary Theory by L Randall Wray | Bloomberg Markets and Finance - youtube.com/watch?v=7sd-ElKMbPIManhattan Project to prevent Hyper-Inflation by J.D. Alt - neweconomicperspectives.org/2020/03/manhattan-project-to-prevent-hyper-inflation.htmlThinking in a Modern Monetary Theory Way by Professor William Mitchell - youtube.com/watch?v=MLKrBsTQntAWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by www.wishforge.games, Charlie, icon king1, Free Preloaders, Raj Dev, from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicPixelated Autumn Leaves by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
The Federal Government Cant Run Out of Money PEGS Institute 2024-02-26 | A short clip from a longer video: youtu.be/kH3mNkt6ijQOr watch the full series to get the full perspective: youtube.com/playlist?list=PLMUzeMKhbl10X-XzH-6q4iU0Ysul7cC4cOriginal description:Our governments can’t get the economy right because they don’t understand it and we can prove it. In 2007 the theory and modelling governments and economists use, all over the world, said the economy was doing fine; it was only going to go up, and a crash couldn’t happen. Then a crash happened. We call it the Global Financial Crisis. The suffering it caused was immense and still goes on today.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSources:No one saw this coming. Understanding financial crisis through accounting models - Dirk Bezemer https://www.rug.nl/research/portal/files/2646456/09002_Bezemer.pdfCan Goldilocks Survive? - Wynne Godley and L. Randall Wray (1999) http://www.levyinstitute.org/pubs/pn99_4.pdfModern Money Theory for Beginners - L. Randall Wray youtube.com/watch?v=E5JTn7GS4oACreditsWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, icon king1, Free Preloaders, Raj Dev from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicHeaven and Hell by Jeremy Blake
Labor MP Mark Butler crushes mental health services with same lies 11 years apart PEGS Institute 2022-12-20 | Minister for Mental Health, Tony Abbott, implemented up to 18 subsidised mental health sessions per year in 2006. Mark Butler cut that to 10 in 2011.Scott Morrison's Liberal government later increased access to 20 sessions per year. Mark Butler, returning now as Health Minister again cuts that to 10 sessions.The sessions were raised over 10 sessions for different reasons, but each time he cut them Mark Butler gave the same justifications when talking to the media, almost as if he made it up. It's clear he just wants to stop spending money on mental health care.Interviews included here are2011: https://www.abc.net.au/radionational/programs/saturdayextra/reassessing-better-access-for-mental-health/36079202022: https://www.abc.net.au/radionational/programs/breakfast/government-slashes-subsidised-psychology-sessions/101769542
ALP Treasurer Jim Chalmers lies to the face of someone he is keeping in poverty #Shorts PEGS Institute 2022-11-06 | Jim Chalmers speaking on Q+A on 03/11/22 https://iview.abc.net.au/video/NC2204H036S00Article is wsws.org/en/articles/2022/11/05/vrih-n05.html referencing a paywalled article published in The Australian on 05/11/22 #shorts
ALP Treasurer Jim Chalmers lies to the face of someone he is keeping in poverty PEGS Institute 2022-11-06 | Jim Chalmers speaking on Q+A on 03/11/22 https://iview.abc.net.au/video/NN2205H109S00Article is wsws.org/en/articles/2022/11/05/vrih-n05.html referencing a paywalled article published in The Australian on 05/11/22
You Can Never Waste Your Vote - Preferential Voting in Australia PEGS Institute 2022-01-17 | With Australia's preferential voting system you can never waste your vote or inadvertently help a candidate you don’t support by voting in the order you most like. Don't worry too much about parties doing preference deals either. Your preferences go where you direct them to and party deals will never change that.Vote for a party or candidate whose policies reflect your values and a party who you would like to win in an ideal world.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteSupport us on Patreon patreon.com/PEGSInstituteSources:https://www.aec.gov.au/learn/preferential-voting.htm https://www.abc.net.au/news/2019-05-03/how-preferences-work-when-voting-in-the-federal-election/11061418Credits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterArrow Icon by Raj Dev from www.freeicons.ioHandshake by art shop from the Noun ProjectAll other graphics created by Jackson WinterMusicBig Wheel by Silent Partner1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Unemployment is a Disease PEGS Institute 2021-09-27 | CONTENT WARNING: Mention of suicide between 00:47-00:53Unemployment spreads through communities like an infection and hurts the health of the afflicted just like a sickness. Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteSupport us on Patreon patreon.com/PEGSInstituteSources:Happiness and unemployment: a panel data analysis for Germany by Liliana Winkelmann and Rainer Winkelmann (1995) https://econ.uzh.ch/dam/jcr:1b71ecfb-f662-4a49-bb34-f95153b619d4/kopo.pdfUnemployment and Mortality: A Comparative Study of Germany and the United States by Christopher B. McLeod, PhD, John N. Lavis, MD, PhD, Ying C. MacNab, PhD, and Clyde Hertzman, MD, PhD (2012)ncbi.nlm.nih.gov/pmc/articles/PMC3464820The impact of unemployment on heart disease and stroke mortality in European Union Countries by Harvey Brenner (2016)https://op.europa.eu/en/publication-detail/-/publication/8e95d2e7-e422-4dd7-bc43-c2dc9f63f6d7/language-enDeaths of Despair and the Future of Capitalism by Anne Case and Angus Deaton (2020)https://press.princeton.edu/books/hardcover/9780691190785/deaths-of-despair-and-the-future-of-capitalismThe Case for a Job Guarantee by Pavlina R. Tcherneva (2020) http://pavlina-tcherneva.net/the-case-for-a-job-guarantee Lost Connections by Johann Hari (2018)thelostconnections.comModelling suicide and unemployment: a longitudinal analysis covering 63 countries, 2000–11 by Dr Carlos Nordt, PhD, Ingeborg Warnke, PhD, Prof Erich Seifritz, MD PD, Wolfram Kawohl, MD, (2015) thelancet.com/journals/lanpsy/article/PIIS2215-0366(14)00118-7/fulltext Effects of Unemployment on Mental and Physical Health by Margaret W. Linn, PhD, Richard Sandifer, BS, And Shayna Stein, PhD (1985) ajph.aphapublications.org/doi/pdf/10.2105/AJPH.75.5.502 Economic and Health Implications of Long-Term Unemployment: Earnings, Disability Benefits, and Mortality by Kenneth Couch, Gayle L. Reznik, Christopher R. Tamborini and Howard M. Iams (2014) emerald.com/insight/content/doi/10.1108/S0147-9121(2013)0000038008/full/html Credits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov, Muhammad Haq from www.freeicons.ioChest Pain, Couple Quarrel, Crying, Death, Dizzy, Drug Overdose, Fed Up, Friend Support, Homeless Family, Man, Man Bullying Elderly, Man Helping a Fallen Friend, Mother and Teenage Son, People Sitting in A Circle, Poverty, Successful Businessman and Suicide Note by Gan Khoon Lay, Australia by Anna Hatzisavas Anxiety and Depression by Adriana Danaila, Disability by Mike Rowe, Family by b farias, Multicultural by ochre7, Gender Neutral by Darin S, Teamwork by Parallel Digital Studio, Future by priyanka and Suburban by Yu luck from the Noun ProjectAll other graphics created by Jackson WinterMusicUpside Down by Text Me Records1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Unemployment is a Deliberate Choice PEGS Institute 2021-07-07 | Unemployment is a Deliberate Choice. Not by the people who are unemployed, but by governments the world over. It is their intention that a significant portion of the community are always unemployed. This comes from a concept called the Non-Accelerating Inflation Rate of Unemployment, or NAIRU.The idea is that if we don't keep a large pool of people unemployed at all times then inflation will increase. The problem is that NAIRU has never been shown to exist in the real world. As unemployment rates fall the constant warning of inflation gets louder, but even during times of record employment the inflation never materialises.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteSupport us on Patreon patreon.com/PEGSInstituteSources:Debunking the NAIRU myth by Matthew C Klein (2017) ft.com/content/facf6989-7cd2-3724-a6d4-dfe7c755175fFed Chair Jerome Powell's House testimony on the state of the economy – 07/10/2019 youtube.com/watch?v=n9I_9-eqHoE Fed Chair Jerome Powell's Senate testimony on monetary policy – 07/11/2019 youtube.com/watch?v=iSRfoBp_Fq0 (Very relevant section at 34:00)The Case for a Job Guarantee by Pavlina R. Tcherneva (2020) http://pavlina-tcherneva.net/the-case-for-a-job-guarantee Should We Reject the Natural Rate Hypothesis? By Olivier Blanchard (2018) pubs.aeaweb.org/doi/pdf/10.1257/jep.32.1.97 Full Employment In Australia (The 1945 Australian Government White Paper)http://www.billmitchell.org/White_Paper_1945/index.html What is full employment? An economist explains the latest jobs data by Jay Zagorsky (2018)theconversation.com/what-is-full-employment-an-economist-explains-the-latest-jobs-data-95908 Salemi, M.K. 1999, "Estimating the natural rate of unemployment and testing the natural rate hypothesis", Journal of Applied Econometrics, vol. 14, no. 1, pp. 1-25. Storm, S, & Naastepad, CWM 2012, Macroeconomics Beyond the NAIRU, Harvard University Press, Cambridge. Available from: ProQuest Ebook Central. [28 May 2021]. Servaas Storm & C. W. M. Naastepad (2007) It is high time to ditch the NAIRU, Journal of Post Keynesian Economics, 29:4, 531-554, DOI: 10.2753/PKE0160-3477290401Servaas Storm & C.W.M. Naastepad (2008) The NAIRU reconsidered: why labour market deregulation may raise unemployment, International Review of Applied Economics, 22:5, 527-544, DOI: 10.1080/02692170802287490Credits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov, Muhammad Haq from www.freeicons.ioConfuse by evi1000, Watch by la-fabrique-créative, Retiree, Headache, Broken Window, Giving to the Poor, Fat Rich Man and Successful Businessman by Gan Khoon Lay, Speech by parkjisun, Fail by Adrien Coquet from the Noun ProjectAll other graphics created by Jackson WinterMusicWaking to Reality by Unicorn Heads1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
If you care about women - DONT VOTE FOR THE LIBERAL PARTY PEGS Institute 2021-07-03 | This is a clip, the full video is available here: youtu.be/Yjyrq5S7x6UFootage used is illustrative only and not necessarily reflective of Australia or any Australian peopleCredits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterClips byAddy Dajah, Alena Darmel, Amit, Anastasia Shuraeva, Anthony Shkraba Production, Cedric Fauntleroy, Cottonbro, Edmond Dantes, Edward Jenner, Ekaterina Bolovtsova, Free Videos, Grover Espinoza, Ivan Samkov, Karolina Grabowsha, Kelly Lacy, Ketut Subianto, Kindel media, Luis Quintero, Maksim Goncharenok, Mart Production, Matthias Groeneveld, Michelangelo Buonarroti, Mikhail Nilov, Nicholas Gonzalez, Olia Danilevich, Pat Whelan, Pavel Danilyuk, Peter Bekkers, Pixabay, Rodnae Productions, Ron Lach, Steve B, Tetrakis, Thirdman, Tima Miroshnichenko, Tom Fisk, Tom Leishman, Treedeo, Valeria Miller, Vlada Karpovich, Yan Krukov and Yaroslav Shuraev, from pexels.comTony Abbott clips from ABC NewsAustralian flag clip bit.ly/2TJRTNEPhoto of Parliament by Alex Ellinghausen bit.ly/35DFqOdMusicHeaven and Hell by Jeremy BlakeDrizzle to Downpour by Silent PartnerBecause For Everything There Is Someone by pATCHESCasual Desire by Ugonna OnyekweFull list of sources here: drive.google.com/file/d/1RrTkoug-XZA0IH9HVJ1K_knrbEZngS4A/view?usp=sharingReport on sexual misconduct in parliamenthttps://www.sbs.com.au/news/dozens-of-complaints-were-made-against-members-of-parliament-in-recent-years-review-finds
If you care about broken promises - DONT VOTE FOR THE LIBERAL PARTY PEGS Institute 2021-07-03 | This is a clip, the full video is available here: youtu.be/Yjyrq5S7x6UFootage used is illustrative only and not necessarily reflective of Australia or any Australian peopleCredits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterClips byAddy Dajah, Alena Darmel, Amit, Anastasia Shuraeva, Anthony Shkraba Production, Cedric Fauntleroy, Cottonbro, Edmond Dantes, Edward Jenner, Ekaterina Bolovtsova, Free Videos, Grover Espinoza, Ivan Samkov, Karolina Grabowsha, Kelly Lacy, Ketut Subianto, Kindel media, Luis Quintero, Maksim Goncharenok, Mart Production, Matthias Groeneveld, Michelangelo Buonarroti, Mikhail Nilov, Nicholas Gonzalez, Olia Danilevich, Pat Whelan, Pavel Danilyuk, Peter Bekkers, Pixabay, Rodnae Productions, Ron Lach, Steve B, Tetrakis, Thirdman, Tima Miroshnichenko, Tom Fisk, Tom Leishman, Treedeo, Valeria Miller, Vlada Karpovich, Yan Krukov and Yaroslav Shuraev, from pexels.comTony Abbott clips from ABC NewsAustralian flag clip bit.ly/2TJRTNEPhoto of Parliament by Alex Ellinghausen bit.ly/35DFqOdMusicHeaven and Hell by Jeremy BlakeDrizzle to Downpour by Silent PartnerBecause For Everything There Is Someone by pATCHESCasual Desire by Ugonna OnyekweFull list of sources here: drive.google.com/file/d/1RrTkoug-XZA0IH9HVJ1K_knrbEZngS4A/view?usp=sharingUnkept promiseshttps://www.themonthly.com.au/issue/2020/october/1601474400/nick-feik/announcement-artist#mtrhttps://www.abc.net.au/news/2020-03-02/government-concedes-bushfire-grants-taking-too-long/12018560NBN lieshttps://www.smh.com.au/politics/federal/secret-figures-show-full-fibre-nbn-may-have-cost-10-billion-less-than-claimed-20210221-p574gj.html Government buried $7.4b NBN blowout: Laborhttps://ia.acs.org.au/content/ia/article/2021/government-buried--7-4b-nbn-blowout--labor.html $4B Emergency Relief Fund not spent in two yearsHansard - Legal And Constitutional Affairs Legislation Committee - Senate Estimates - Monday, 22 March 2021 (Page 93)https://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22committees%2Festimate%2F567ff01c-d590-41e8-ab09-bd5d4e996f13%2F0000%22 Just 609 young Australians have been hired under jobmaker scheme, Treasury reveals theguardian.com/australia-news/2021/mar/24/just-609-young-australians-have-been-hired-under-jobmaker-scheme-treasury-reveals Australian vaccine rollout targets graph by ABChttps://www.abc.net.au/news/2021-05-28/untangling-australia-s-covid-vaccine-rollout-timetable/100156720International vaccine rollout graph by The Guardiantheguardian.com/australia-news/ng-interactive/2021/jun/18/covid-19-vaccine-rollout-australia-coronavirus-vaccination-progress-updates-tracker-victoria-nsw-queensland-qld-daily-live-data-stats-updates-total-numbers-distribution-schedule-tracking-new-cases-todayFederal Government Covid Response Failureshttps://www.aph.gov.au/Parliamentary_Business/Committees/Senate/COVID-19/COVID19/Interim_Report/section?id=committees%2freportsen%2f024513%2f73930 theguardian.com/australia-news/2020/sep/29/brendan-murphy-admits-earlier-federal-action-could-have-prevented-some-aged-care-deaths-in-australiaAustralia falls 3.4m doses short of 4m vaccination target by end of Marchtheguardian.com/australia-news/2021/mar/31/missed-it-by-that-much-australia-falls-34m-doses-short-of-4m-vaccination-target-by-end-of-march Australia’s delayed covid vaccine rollouthttps://www.abc.net.au/news/2021-03-02/charting-australias-covid-vaccine-rollout/13197518 https://www.abc.net.au/news/2021-05-28/untangling-australia-s-covid-vaccine-rollout-timetable/100156720Labor report comparing statistics pre-2013 to nowtheguardian.com/australia-news/2021/feb/08/how-good-is-australia-labor-crunches-the-numbers-to-answer-morrisons-questionOriginal source: julianhillmp.com/FBR.pdfAchievements of the Coalition Governmenthttps://www.mdavis.xyz/govlist/
If you care about aged care - DONT VOTE FOR THE LIBERAL PARTY PEGS Institute 2021-07-03 | This is a clip, the full video is available here: youtu.be/Yjyrq5S7x6UFootage used is illustrative only and not necessarily reflective of Australia or any Australian peopleCredits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterClips byAddy Dajah, Alena Darmel, Amit, Anastasia Shuraeva, Anthony Shkraba Production, Cedric Fauntleroy, Cottonbro, Edmond Dantes, Edward Jenner, Ekaterina Bolovtsova, Free Videos, Grover Espinoza, Ivan Samkov, Karolina Grabowsha, Kelly Lacy, Ketut Subianto, Kindel media, Luis Quintero, Maksim Goncharenok, Mart Production, Matthias Groeneveld, Michelangelo Buonarroti, Mikhail Nilov, Nicholas Gonzalez, Olia Danilevich, Pat Whelan, Pavel Danilyuk, Peter Bekkers, Pixabay, Rodnae Productions, Ron Lach, Steve B, Tetrakis, Thirdman, Tima Miroshnichenko, Tom Fisk, Tom Leishman, Treedeo, Valeria Miller, Vlada Karpovich, Yan Krukov and Yaroslav Shuraev, from pexels.comTony Abbott clips from ABC NewsAustralian flag clip bit.ly/2TJRTNEPhoto of Parliament by Alex Ellinghausen bit.ly/35DFqOdMusicHeaven and Hell by Jeremy BlakeDrizzle to Downpour by Silent PartnerBecause For Everything There Is Someone by pATCHESCasual Desire by Ugonna OnyekweFull list of sources here: drive.google.com/file/d/1RrTkoug-XZA0IH9HVJ1K_knrbEZngS4A/view?usp=sharing$6 a day on resident foodhttps://www.abc.net.au/news/2018-09-17/food-in-aged-care/10212880?nw=0Big profits for aged care ownershttps://www.thesenior.com.au/story/6917556/report-to-royal-commission-shows-most-aged-care-homes-are-making-a-profit/Aged care staffing levelshttps://agedcare.royalcommission.gov.au/system/files/2020-06/AHS.0001.0001.0001.pdfStaffing levels and traininghttps://www1.racgp.org.au/newsgp/professional/calls-to-improve-staffing-levels-in-failing-aged-cFederal Government Covid Response Failureshttps://www.aph.gov.au/Parliamentary_Business/Committees/Senate/COVID-19/COVID19/Interim_Report/section?id=committees%2freportsen%2f024513%2f73930 theguardian.com/australia-news/2020/sep/29/brendan-murphy-admits-earlier-federal-action-could-have-prevented-some-aged-care-deaths-in-australiaImages of paltry aged care food servingshttps://www.abc.net.au/news/2018-09-17/food-in-aged-care/10212880Labor report comparing statistics pre-2013 to nowtheguardian.com/australia-news/2021/feb/08/how-good-is-australia-labor-crunches-the-numbers-to-answer-morrisons-questionOriginal source: julianhillmp.com/FBR.pdfAchievements of the Coalition Governmenthttps://www.mdavis.xyz/govlist/
If you care about health care - DONT VOTE FOR THE LIBERAL PARTY PEGS Institute 2021-07-02 | This is a clip, the full video is available here: youtu.be/Yjyrq5S7x6UFootage used is illustrative only and not necessarily reflective of Australia or any Australian peopleCredits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterClips byAddy Dajah, Alena Darmel, Amit, Anastasia Shuraeva, Anthony Shkraba Production, Cedric Fauntleroy, Cottonbro, Edmond Dantes, Edward Jenner, Ekaterina Bolovtsova, Free Videos, Grover Espinoza, Ivan Samkov, Karolina Grabowsha, Kelly Lacy, Ketut Subianto, Kindel media, Luis Quintero, Maksim Goncharenok, Mart Production, Matthias Groeneveld, Michelangelo Buonarroti, Mikhail Nilov, Nicholas Gonzalez, Olia Danilevich, Pat Whelan, Pavel Danilyuk, Peter Bekkers, Pixabay, Rodnae Productions, Ron Lach, Steve B, Tetrakis, Thirdman, Tima Miroshnichenko, Tom Fisk, Tom Leishman, Treedeo, Valeria Miller, Vlada Karpovich, Yan Krukov and Yaroslav Shuraev, from pexels.comTony Abbott clips from ABC NewsAustralian flag clip bit.ly/2TJRTNEPhoto of Parliament by Alex Ellinghausen bit.ly/35DFqOdMusicHeaven and Hell by Jeremy BlakeDrizzle to Downpour by Silent PartnerBecause For Everything There Is Someone by pATCHESCasual Desire by Ugonna OnyekweFull list of sources here: drive.google.com/file/d/1RrTkoug-XZA0IH9HVJ1K_knrbEZngS4A/view?usp=sharing“the best protection against the virus, to live with the virus, to live alongside the virus, and to open up your economy” - Scott Morrison 16/07/2020 (Victoria records 671 new infections and enters 111 day lockdown 17 days later) https://www.pm.gov.au/media/press-conference-australian-parliament-house-act-23 Aged care staffing levelshttps://agedcare.royalcommission.gov.au/system/files/2020-06/AHS.0001.0001.0001.pdfStaffing levels and traininghttps://www1.racgp.org.au/newsgp/professional/calls-to-improve-staffing-levels-in-failing-aged-cFederal Government Covid Response Failureshttps://www.aph.gov.au/Parliamentary_Business/Committees/Senate/COVID-19/COVID19/Interim_Report/section?id=committees%2freportsen%2f024513%2f73930 theguardian.com/australia-news/2020/sep/29/brendan-murphy-admits-earlier-federal-action-could-have-prevented-some-aged-care-deaths-in-australiaAustralia’s delayed covid vaccine rollouthttps://www.abc.net.au/news/2021-03-02/charting-australias-covid-vaccine-rollout/13197518 https://www.abc.net.au/news/2021-05-28/untangling-australia-s-covid-vaccine-rollout-timetable/100156720Labor report comparing statistics pre-2013 to nowtheguardian.com/australia-news/2021/feb/08/how-good-is-australia-labor-crunches-the-numbers-to-answer-morrisons-questionOriginal source: julianhillmp.com/FBR.pdfAchievements of the Coalition Governmenthttps://www.mdavis.xyz/govlist/
If you care about education and your childrens future - DONT VOTE FOR THE LIBERAL PARTY PEGS Institute 2021-07-02 | This is a clip, the full video is available here: youtu.be/Yjyrq5S7x6UFootage used is illustrative only and not necessarily reflective of Australia or any Australian peopleCredits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterClips byAddy Dajah, Alena Darmel, Amit, Anastasia Shuraeva, Anthony Shkraba Production, Cedric Fauntleroy, Cottonbro, Edmond Dantes, Edward Jenner, Ekaterina Bolovtsova, Free Videos, Grover Espinoza, Ivan Samkov, Karolina Grabowsha, Kelly Lacy, Ketut Subianto, Kindel media, Luis Quintero, Maksim Goncharenok, Mart Production, Matthias Groeneveld, Michelangelo Buonarroti, Mikhail Nilov, Nicholas Gonzalez, Olia Danilevich, Pat Whelan, Pavel Danilyuk, Peter Bekkers, Pixabay, Rodnae Productions, Ron Lach, Steve B, Tetrakis, Thirdman, Tima Miroshnichenko, Tom Fisk, Tom Leishman, Treedeo, Valeria Miller, Vlada Karpovich, Yan Krukov and Yaroslav Shuraev, from pexels.comTony Abbott clips from ABC NewsAustralian flag clip bit.ly/2TJRTNEPhoto of Parliament by Alex Ellinghausen bit.ly/35DFqOdMusicHeaven and Hell by Jeremy BlakeDrizzle to Downpour by Silent PartnerBecause For Everything There Is Someone by pATCHESCasual Desire by Ugonna OnyekweFull list of sources here: drive.google.com/file/d/1RrTkoug-XZA0IH9HVJ1K_knrbEZngS4A/view?usp=sharingLabor report comparing statistics pre-2013 to nowtheguardian.com/australia-news/2021/feb/08/how-good-is-australia-labor-crunches-the-numbers-to-answer-morrisons-questionOriginal source: julianhillmp.com/FBR.pdfAchievements of the Coalition Governmenthttps://www.mdavis.xyz/govlist/
If you care about the environment - DONT VOTE FOR THE LIBERAL PARTY PEGS Institute 2021-07-02 | This is a clip, the full video is available here: youtu.be/Yjyrq5S7x6UFootage used is illustrative only and not necessarily reflective of Australia or any Australian peopleCredits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterClips byAddy Dajah, Alena Darmel, Amit, Anastasia Shuraeva, Anthony Shkraba Production, Cedric Fauntleroy, Cottonbro, Edmond Dantes, Edward Jenner, Ekaterina Bolovtsova, Free Videos, Grover Espinoza, Ivan Samkov, Karolina Grabowsha, Kelly Lacy, Ketut Subianto, Kindel media, Luis Quintero, Maksim Goncharenok, Mart Production, Matthias Groeneveld, Michelangelo Buonarroti, Mikhail Nilov, Nicholas Gonzalez, Olia Danilevich, Pat Whelan, Pavel Danilyuk, Peter Bekkers, Pixabay, Rodnae Productions, Ron Lach, Steve B, Tetrakis, Thirdman, Tima Miroshnichenko, Tom Fisk, Tom Leishman, Treedeo, Valeria Miller, Vlada Karpovich, Yan Krukov and Yaroslav Shuraev, from pexels.comTony Abbott clips from ABC NewsAustralian flag clip bit.ly/2TJRTNEPhoto of Parliament by Alex Ellinghausen bit.ly/35DFqOdMusicHeaven and Hell by Jeremy BlakeDrizzle to Downpour by Silent PartnerBecause For Everything There Is Someone by pATCHESCasual Desire by Ugonna OnyekweFull list of sources here: drive.google.com/file/d/1RrTkoug-XZA0IH9HVJ1K_knrbEZngS4A/view?usp=sharing$444m to GBR Foundation without due diligence https://www.abc.net.au/news/2018-05-22/great-barrier-reef-funding-labor-accuse-due-diligence/9785782Labor report comparing statistics pre-2013 to nowtheguardian.com/australia-news/2021/feb/08/how-good-is-australia-labor-crunches-the-numbers-to-answer-morrisons-questionOriginal source: julianhillmp.com/FBR.pdfAchievements of the Coalition Governmenthttps://www.mdavis.xyz/govlist/
If you care about the economy and your own finances - DONT VOTE FOR THE LIBERAL PARTY PEGS Institute 2021-07-02 | This is a clip, the full video is available here: youtu.be/Yjyrq5S7x6UFootage used is illustrative only and not necessarily reflective of Australia or any Australian peopleCredits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterClips byAddy Dajah, Alena Darmel, Amit, Anastasia Shuraeva, Anthony Shkraba Production, Cedric Fauntleroy, Cottonbro, Edmond Dantes, Edward Jenner, Ekaterina Bolovtsova, Free Videos, Grover Espinoza, Ivan Samkov, Karolina Grabowsha, Kelly Lacy, Ketut Subianto, Kindel media, Luis Quintero, Maksim Goncharenok, Mart Production, Matthias Groeneveld, Michelangelo Buonarroti, Mikhail Nilov, Nicholas Gonzalez, Olia Danilevich, Pat Whelan, Pavel Danilyuk, Peter Bekkers, Pixabay, Rodnae Productions, Ron Lach, Steve B, Tetrakis, Thirdman, Tima Miroshnichenko, Tom Fisk, Tom Leishman, Treedeo, Valeria Miller, Vlada Karpovich, Yan Krukov and Yaroslav Shuraev, from pexels.comTony Abbott clips from ABC NewsAustralian flag clip bit.ly/2TJRTNEPhoto of Parliament by Alex Ellinghausen bit.ly/35DFqOdMusicHeaven and Hell by Jeremy BlakeDrizzle to Downpour by Silent PartnerBecause For Everything There Is Someone by pATCHESCasual Desire by Ugonna OnyekweFull list of sources here: drive.google.com/file/d/1RrTkoug-XZA0IH9HVJ1K_knrbEZngS4A/view?usp=sharingJobseeker payments and poverty https://www.abc.net.au/news/2020-10-04/coronavirus-government-policy-jobkeeper-jobseeker-unemployment/12729136 Per capita recessionhttps://www.abc.net.au/news/2019-03-06/gdp-q4-2018/10874592Labor report comparing statistics pre-2013 to nowtheguardian.com/australia-news/2021/feb/08/how-good-is-australia-labor-crunches-the-numbers-to-answer-morrisons-questionOriginal source: julianhillmp.com/FBR.pdfAchievements of the Coalition Governmenthttps://www.mdavis.xyz/govlist/
If you care about corruption - DONT VOTE FOR THE LIBERAL PARTY PEGS Institute 2021-07-01 | This is a clip. The full video is available here: youtu.be/Yjyrq5S7x6UFootage used is illustrative only and not necessarily reflective of Australia or any Australian peopleCredits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterClips byAddy Dajah, Alena Darmel, Amit, Anastasia Shuraeva, Anthony Shkraba Production, Cedric Fauntleroy, Cottonbro, Edmond Dantes, Edward Jenner, Ekaterina Bolovtsova, Free Videos, Grover Espinoza, Ivan Samkov, Karolina Grabowsha, Kelly Lacy, Ketut Subianto, Kindel media, Luis Quintero, Maksim Goncharenok, Mart Production, Matthias Groeneveld, Michelangelo Buonarroti, Mikhail Nilov, Nicholas Gonzalez, Olia Danilevich, Pat Whelan, Pavel Danilyuk, Peter Bekkers, Pixabay, Rodnae Productions, Ron Lach, Steve B, Tetrakis, Thirdman, Tima Miroshnichenko, Tom Fisk, Tom Leishman, Treedeo, Valeria Miller, Vlada Karpovich, Yan Krukov and Yaroslav Shuraev, from pexels.comTony Abbott clips from ABC NewsAustralian flag clip bit.ly/2TJRTNEPhoto of Parliament by Alex Ellinghausen bit.ly/35DFqOdMusicHeaven and Hell by Jeremy BlakeDrizzle to Downpour by Silent PartnerBecause For Everything There Is Someone by pATCHESCasual Desire by Ugonna OnyekweFull list of sources here: drive.google.com/file/d/1RrTkoug-XZA0IH9HVJ1K_knrbEZngS4A/view?usp=sharingAustralia is out of the top ten in global anti-corruption rankings — why? (2021) theconversation.com/australia-is-out-of-the-top-ten-in-global-anti-corruption-rankings-why-153875 Insufficient scrutiny on record breaking granttheguardian.com/environment/2019/jan/16/great-barrier-reef-audit-finds-443m-grant-subject-to-insufficient-scrutiny Water buyback scandaltheguardian.com/commentisfree/2019/apr/25/barnaby-joyce-and-watergate-the-water-buybacks-scandal-explainedBushfire funds in Liberal seatshttps://www.michaelwest.com.au/bushfire-rorts-coalition-targets-bushfire-recovery-funds-for-coalition-seats/Labor report comparing statistics pre-2013 to nowtheguardian.com/australia-news/2021/feb/08/how-good-is-australia-labor-crunches-the-numbers-to-answer-morrisons-questionOriginal source: julianhillmp.com/FBR.pdfAchievements of the Coalition Governmenthttps://www.mdavis.xyz/govlist/News articles shown - Sports rorts:theguardian.com/australia-news/2020/jul/21/sports-rorts-coalition-approved-at-least-six-grants-without-an-application-form-documents-revealRobo-debt:https://www.smh.com.au/politics/federal/blunt-approach-robo-debt-costs-almost-match-debts-recovered-20190222-p50zkj.htmlWater buybacks:https://www.abc.net.au/news/2019-04-23/water-buybacks-everything-we-know/11037798Western Sydney Airport land purchase:theguardian.com/australia-news/2020/oct/16/federal-police-will-investigate-30m-western-sydney-airport-land-purchaseMathias Cormann used government funds to travel to bid for OECD job:https://www.smh.com.au/politics/federal/scott-morrison-defends-taxpayer-funded-private-jet-for-mathias-cormann-s-oecd-bid-20201125-p56hyx.htmlBronwyn Bishop government funds for travel for new job:https://www.smh.com.au/politics/federal/bronwyn-bishop-job-bid-leaves-taxpayers-with-huge-expense-bill-20150715-gich1g.htmlChristopher Pyne discussed post-government job while still in office:https://www.abc.net.au/news/2019-08-13/christopher-pyne-discussed-post-politics-job-before-election/11409638Julie Bishop did too:https://www.abc.net.au/news/2019-07-02/julie-bishop-new-job-palladium-personal-advantage-penny-wong/11272104More than half of lobbyists formerly worked in government:theguardian.com/australia-news/2019/jul/24/more-than-half-of-lobbyists-have-worked-within-australian-government-study-findsGovernment money used for brand stackinghttps://www.crikey.com.au/2020/08/24/taxpayers-foot-the-bill-for-factional-playgrounds/Gladys Liu and Josh Frydenburg deliberately misled voters with AEC branding on election materialtheguardian.com/australia-news/2019/oct/02/gladys-liu-and-josh-frydenberg-admit-chinese-election-signs-instructed-right-way-to-vote$50m in secret political donationsafr.com/politics/federal/hidden-money-50m-flows-in-secret-political-donations-20210214-p572a2AFP investigate politician expenseshttps://www.canberratimes.com.au/story/7188109/afp-took-charge-of-expenses-investigation-audit-office/Bushfire rortshttps://www.michaelwest.com.au/bushfire-rorts-coalition-targets-bushfire-recovery-funds-for-coalition-seats/$40m to Fox Sports investigate by Auditor-Generalhttps://www.smh.com.au/politics/federal/40-million-fox-sports-grant-on-auditor-general-s-radar-20210517-p57sog.html$444m to GBR Foundation without due diligence https://www.abc.net.au/news/2018-05-22/great-barrier-reef-funding-labor-accuse-due-diligence/9785782
Dont Vote for the Liberal Party PEGS Institute 2021-06-20 | Footage used is illustrative only and not necessarily reflective of Australia or any Australian people00:00 You have plenty of options in who to vote for00:46 Liberal Party corruption02:00 Economic failures03:37 Climate and environment failures04:33 Education failures04:49 Healthcare failures05:19 Aged care failures05:37 Broken promises07:59 Culture of sexual assault08:41 DON’T VOTE FOR THE LIBERAL PARTYCredits:Written by Andrew Johnson & Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterClips byAddy Dajah, Alena Darmel, Amit, Anastasia Shuraeva, Anthony Shkraba Production, Cedric Fauntleroy, Cottonbro, Edmond Dantes, Edward Jenner, Ekaterina Bolovtsova, Free Videos, Grover Espinoza, Ivan Samkov, Karolina Grabowsha, Kelly Lacy, Ketut Subianto, Kindel media, Luis Quintero, Maksim Goncharenok, Mart Production, Matthias Groeneveld, Michelangelo Buonarroti, Mikhail Nilov, Nicholas Gonzalez, Olia Danilevich, Pat Whelan, Pavel Danilyuk, Peter Bekkers, Pixabay, Rodnae Productions, Ron Lach, Steve B, Tetrakis, Thirdman, Tima Miroshnichenko, Tom Fisk, Tom Leishman, Treedeo, Valeria Miller, Vlada Karpovich, Yan Krukov and Yaroslav Shuraev, from pexels.comTony Abbott clips from ABC NewsAustralian flag clip bit.ly/2TJRTNEPhoto of Parliament by Alex Ellinghausen bit.ly/35DFqOdMusicHeaven and Hell by Jeremy BlakeDrizzle to Downpour by Silent PartnerBecause For Everything There Is Someone by pATCHESCasual Desire by Ugonna OnyekweSourcesAustralia is out of the top ten in global anti-corruption rankings — why? (2021) theconversation.com/australia-is-out-of-the-top-ten-in-global-anti-corruption-rankings-why-153875 Insufficient scrutiny on record breaking granttheguardian.com/environment/2019/jan/16/great-barrier-reef-audit-finds-443m-grant-subject-to-insufficient-scrutiny “the best protection against the virus, to live with the virus, to live alongside the virus, and to open up your economy” - Scott Morrison 16/07/2020 (Victoria records 671 new infections and enters 111 day lockdown 17 days later) https://www.pm.gov.au/media/press-conference-australian-parliament-house-act-23 Labor report comparing statistics pre-2013 to nowtheguardian.com/australia-news/2021/feb/08/how-good-is-australia-labor-crunches-the-numbers-to-answer-morrisons-questionOriginal source: julianhillmp.com/FBR.pdfJobseeker payments and poverty https://www.abc.net.au/news/2020-10-04/coronavirus-government-policy-jobkeeper-jobseeker-unemployment/12729136 Unkept promiseshttps://www.themonthly.com.au/issue/2020/october/1601474400/nick-feik/announcement-artist#mtrhttps://www.abc.net.au/news/2020-03-02/government-concedes-bushfire-grants-taking-too-long/12018560Achievements of the Coalition Governmenthttps://www.mdavis.xyz/govlist/Per capita recessionhttps://www.abc.net.au/news/2019-03-06/gdp-q4-2018/10874592NBN lieshttps://www.smh.com.au/politics/federal/secret-figures-show-full-fibre-nbn-may-have-cost-10-billion-less-than-claimed-20210221-p574gj.html Government buried $7.4b NBN blowout: Laborhttps://ia.acs.org.au/content/ia/article/2021/government-buried--7-4b-nbn-blowout--labor.html $4B Emergency Relief Fund not spent in two yearsHansard - Legal And Constitutional Affairs Legislation Committee - Senate Estimates - Monday, 22 March 2021 (Page 93)https://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22committees%2Festimate%2F567ff01c-d590-41e8-ab09-bd5d4e996f13%2F0000%22 Just 609 young Australians have been hired under jobmaker scheme, Treasury reveals theguardian.com/australia-news/2021/mar/24/just-609-young-australians-have-been-hired-under-jobmaker-scheme-treasury-reveals Australia’s delayed covid vaccine rollouthttps://www.abc.net.au/news/2021-03-02/charting-australias-covid-vaccine-rollout/13197518 https://www.abc.net.au/news/2021-05-28/untangling-australia-s-covid-vaccine-rollout-timetable/100156720Federal Government Covid Response Failureshttps://www.aph.gov.au/Parliamentary_Business/Committees/Senate/COVID-19/COVID19/Interim_Report/section?id=committees%2freportsen%2f024513%2f73930 theguardian.com/australia-news/2020/sep/29/brendan-murphy-admits-earlier-federal-action-could-have-prevented-some-aged-care-deaths-in-australiaReport on sexual misconduct in parliamenthttps://www.sbs.com.au/news/dozens-of-complaints-were-made-against-members-of-parliament-in-recent-years-review-finds There's literally more evidence than we can link on YouTube.Full list of sources available here: bit.ly/3gR8vuC
What Caused Hyperinflation In Weimar, Zimbabwe And Venezuela? PEGS Institute 2021-03-10 | Delve even further into this with our extended article on the subject here: medium.com/pegs-institute/the-hyperinflation-myth-of-weimar-venezuela-and-zimbabwe-b953b13ddaeeA lot of people point to Weimar, Zimbabwe and Venezuela as examples of the dangers of MMT, but let's have a closer look at hyperinflation in these three examples. All three had distinctly similar factors that lead to the spiralling devaluation of their currency.While they can teach us some lessons about hyperinflation, they're nothing to do with MMT.00:00 Overview00:25 Weimar Germany02:17 Zimbabwe04:08 Venezuela05:51 SummaryCome discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteSupport us on Patreon patreon.com/PEGSInstituteSources: Complete bibliography & citations in article linked aboveCredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov, Muhammad Haq from www.freeicons.ioPoint by Brad Avison, Spiral by Cédric Villain, Factory by iconsphere, Refuse by Adrien Coquet, Farm and Farming by Made, Political Unrest and Strikes by Wichai Wi, Europe and Africa by P Thanga Vignesh, Forklift by Mavadee, Warehouse by Lara, Statue Removal by Luis Prado, Fall by M. Oki Orlando, Drought by Nice and Serious, Drug Lord, Fat Boss, Dictator and Giving to the Poor by Gan Khoon Lay, Zimbabwe by Linseed Studio, World Map by Joel Wisneski from the Noun ProjectAll other graphics created by Jackson WinterMusicAccordion Dirge by Dana BouléJourney to the Past by Carmen María and Edu EspinaOne Life by Patrick Patrikios1940's Slow Dance (Sting) by Doug Maxwell, Media Right ProductionsDangerous by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. creativecommons.org/licenses/by/4.0Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100414Artist: http://incompetech.com
The Myth Of Weimar, Zimbabwe And Venezuela PEGS Institute 2021-03-09 | In-depth analysis and sources can be found here: medium.com/pegs-institute/the-hyperinflation-myth-of-weimar-venezuela-and-zimbabwe-b953b13ddaeeExtended video version coming soon!If you are worried that Modern monetary theory could lead to hyperinflation, just like was experienced in Weimar Germany, Zimbabwe or Venezuela, then there's good news. Weimar, Zimbabwe, Venezuela and their cohort aren't really examples of the dangers of MMT, they are situations where MMT’s insights weren't applied, with disastrous results.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteSupport us on Patreon patreon.com/PEGSInstituteSources: See linked article above for cited sourcesCredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov, Muhammad Haq from www.freeicons.ioWarn by RULI, Back Man by Gonza, Light by Numero Uno and Study by Bonegolem from the Noun ProjectAll other graphics created by Jackson WinterMusicWalk With Me by TrackTribe1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Your Bank Makes Its Own Money PEGS Institute 2021-02-07 | Your bank is not a money lender. Their loans department is a money maker; a creator of brand new money. And while it is often thought that central banks can control the money supply in circulation, this is untrue. It is customers that create the demand for deposits at private banks when they seek a bank loan, and since central banks are primarily concerned with the stability of the payments system, they will always stand ready to ensure the private banks have enough reserves or liquidity to clear their payments.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:Exchange Settlement Account Policy - Reserve Bank of Australia - https://rba.gov.au/payments-and-infrastructure/esa/How the Reserve Bank Implements Monetary Policy - Reserve Bank of Australia - youtu.be/1bBizpkB8dUWhy Minsky Matters by L Randall WrayJohn Maynard Keynes (1975) by Hyman MinskyTreasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 2) - youtube.com/watch?v=scIlDd6lTOI&t=944sThe role of bank deposits in Modern Monetary Theory - Bill Mitchellhttp://bilbo.economicoutlook.net/blog/?p=14620How is money created? - Bank of England (2020)bankofengland.co.uk/knowledgebank/how-is-money-created Money - Born of Credit? | RBA (2018)https://www.rba.gov.au/speeches/2018/sp-ag-2018-09-19.htmlHockett, R.C & Omarova, S.T. (2017). The Finance Franchise. Cornell Law Review 102, pp 1143-1218https://scholarship.law.cornell.edu/cgi/viewcontent.cgi?article=2660&context=facpubCredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov, Muhammad Haq from www.freeicons.ioStrength by Nathaniel Smith, Safety Net by irene hoffman, ATM by Nawicon from the Noun ProjectAll other graphics created by Jackson WinterMusicMia by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Sex Chromosomes PEGS Institute 2021-01-26 | When you were at school there is a good chance you learned that when it comes to human biological sex, two X sex chromosomes produces a female and one X sex chromosome and one Y sex chromosome produces a male. The thing is, that explanation, like so much taught at school, is a simplification based on the level of understanding a child can be expected to grasp. It’s nowhere near the full story, and no real biologist at all thinks that it is.So what is the biological reality?Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSourcesblogs.scientificamerican.com/voices/stop-using-phony-science-to-justify-transphobiajournals.physiology.org/doi/full/10.1152/physrev.00009.2006amnesty.org/en/latest/news/2018/10/its-intersex-awareness-day-here-are-5-myths-we-need-to-shatterpubmed.ncbi.nlm.nih.gov/12476264livescience.com/39095-redhead-health-risks.htmlCreditsWritten by Andrew JohnsonSpoken by Andrew JohnsonEdited by Jackson WinterSchool by David, Teacher by b farias, Transgender by Tamara, Finger, Refuse and Fight by Adrien Coquet, Biologist, Chemist and Avatar by monkik, Child by sandra and Confuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicStinger by Silent Partner1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Our Central Bank is Not Independent PEGS Institute 2021-01-20 | In Australia, we often hear that our central bank, the Reserve Bank of Australia, is independent of the Federal Government, but in truth central banks the world over have very limited independence.A mark of our current neoliberal period is the depoliticisation of decision making from both sides of politics. That is, the distancing of politicians from unpopular decisions by deferring responsibility to unelected technocrats. Despite the prevailing myth that the government and its central bank are entirely distinct entities, we can see that this independence is merely a facade designed to obfuscate who is really making the decisions. Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:Our Role - The Reserve Bank of Australia - https://www.rba.gov.au/about-rba/our-role.htmlCentral Bank Independence: What Does It Mean? - https://www.rba.gov.au/speeches/1994/sp-gov-231194.htmlReserve Bank Board: Members of the Reserve Bank Board - https://www.rba.gov.au/about-rba/boards/rba-board.htmlA Brief History - The Reserve Bank of Australia - https://www.rba.gov.au/about-rba/history/index.htmlAccountability - The Reserve Bank of Australia - https://www.rba.gov.au/about-rba/accountability.htmlStatement on the Conduct of Monetary Policy: 6th December 2007 - https://www.rba.gov.au/monetary-policy/framework/stmt-conduct-mp-4-06122007.htmlCollected Economic Papers: Volume 2 - Joan RobinsonAustralian Reserve Bank Act 1959https://www.legislation.gov.au/Details/C2015C00201 Treasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 2)youtube.com/watch?v=scIlDd6lTOICredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov, Muhammad Haq from www.freeicons.ioAustralia by Anna Hatzisavas, thumb tack by icon 54, Meeting by Gregor Cresnar, Strength by Nathaniel Smith, qr by Eucalyp and Scribble by Alice Noir from the Noun ProjectAll other graphics created by Jackson WinterMusicJoy Ride by Bad Snacks1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
The Highway of Infinite Spending PEGS Institute 2020-12-27 | When people first hear about MMT there's a tendency to think that advocates are saying that the government should just spend infinitely, because there are no limits. But this is not what MMT says at all. MMT doesn't tell us there are no limits to government spending. It simply says that the limits aren't where we thought they were, and shows us where the limits really are.MMT doesn't want the government to ignite rocket fuel in the government spending machine. MMT advocates just want government, and the people who vote for them to understand what the true limits are so that we're not held back by mistaken beliefs and waste opportunities to improve our living standards. Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteCredits:Written by PEGS InstituteBased on an analogy by Travis Menard twitter.com/TravisMenard00 Spoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioCar by Verve-s, Crouching by Gan Khoon Lay, Cyclist by corpus delicti and Earth by Rikha Khunaifah M from the Noun ProjectTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicWrong by Dan Henig
What is the Point of A Public Broadcaster? PEGS Institute 2020-12-20 | What is the point of a public broadcaster? Some argue that they shouldn’t exist; that the government has no business owning a broadcaster. So why have a public broadcaster? A public broadcaster is that it is the only type of broadcaster that can put its audience’s interests first, ahead of its revenue source. A public broadcaster can make programs that aren’t widely popular but that benefit the community. Private broadcasters can indeed handle a lot of the entertainment and informing of the public, but there are some things they will never be able to do. For the media landscape to be truly diverse, robust and inclusive we need the public broadcasters.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:https://about.abc.net.au/how-the-abc-is-run/what-guides-us/legislative-framework/(Link to the ABC charter referring to independence as well as its role generally)pbs.org/value(US PBS info)http://downloads.bbc.co.uk/bbctrust/assets/files/pdf/about/how_we_govern/2016/agreement.pdf(BBC Charter)http://www.abc.net.au/cm/lb/9944818/data/the-cost-of-being-the-abc-data.pdf?fbclid=IwAR1_lZ9Hjkws1BgFnzhb7_ZKmJ0JL9Yg8w1ddHBWztTFS1AJcAzNkRlkqvoCredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov, Muhammad Haq from www.freeicons.ioFinger, Detective and Refuse by Adrien Coquet and Radio by Astatine Lab from the Noun ProjectAll other graphics created by Jackson WinterMusicGreat Whyte 18 by Noir Et Blanc Vie1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Australias Private Debt Burden PEGS Institute 2020-12-13 | Australia’s gross household debt to income before tax ratio is the second highest household debt burden in the world. But how did Australian households become so indebted and what will this mean in the coming months and years?Research from the Reserve Bank of Australia shows average personal debt more than doubling from $106,000 in 2001, to $350,000 in 2019. Average mortgage debt among older Australians has blown out by 600 per cent since the late 1980s, and that’s after accounting for inflation. We should not allow ourselves to forget that in practice, the government taking a larger share of the debt burden has led to better outcomes for the Australian people than austerity principles that heap the debt burden onto households, and businesses. It is hard to say that the government is effectively serving the people when now, more than ever, Australian families are suffering under the weight of unsustainable private debt. The security provided by the government deficit approach enables a brighter future for Australian households, families and businesses.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:Total Credit to Private Non-Financial Sector, Adjusted for Breaks, for Australia - Federal Reserve Bank of St Louis - fred.stlouisfed.org/series/QAUPAM770A https://www.abc.net.au/news/2019-10-18/household-debt-leaves-australians-working-longer-spending-less/11608016https://www.abc.net.au/news/2019-08-27/mortgage-debt-causing-older-australians-distress-study-finds/11450958https://www.abc.net.au/news/2016-06-17/fact-check-is-wage-growth-lowest-on-record/7505512?nw=0https://www.abc.net.au/news/2020-08-30/liberal-party-of-robert-menzies-proudly-delivered-large-deficits/12609876The Deficit Myth by Stephanie Keltonhttps://www.businessinsider.com.au/australias-household-debt-is-now-one-of-the-highest-in-the-world-2018-1https://www.abc.net.au/news/2018-01-18/household-debt-extremely-elevated-and-tipped-to-grow/9340880https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1819/WageSlowdown Credits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicPassage by Ugonna OnyekweA Rising Wave by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Who Really Pays For Our Government Debt? PEGS Institute 2020-12-06 | There is often a lot of alarm and anxiety when we talk about a country’s government debt, but as we will learn, this fear of government debt, sometimes referred to as public debt or the national debt is completely unfounded. When politicians and journalists talk about the government debt or the public debt or the national debt and the big scary number that we are often told is unsustainable, it is important to remember that this outstanding debt is not a debt to our children or our grandchildren. The government’s debt is simply factored into the Federal budget each year when bonds from previous years mature, meaning the bond holder has their investment returned to them, with interest. Paying off this so-called debt is as simple as crediting accounts at the central bank. So the next time a politician tries to equate the government’s debt with your own household debt by arguing the currency-issuing government ‘needs to tighten its belt’ and ‘live within its means’, you know that they are making a political decision not to spend and that it has nothing to do with their ability to pay for anything the Government could want.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:The Deficit Myth by Stephanie KeltonReclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World by William Mitchell & Thomas FaziPodcast with Alan Kohler and Professor William Mitchell - youtube.com/watch?v=9ldmpmVfSoMWhy Do Currency-issuing Governments Issue Debt? - Part 1 by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=45106If You Think You Know What ‘Debt’ Is, Read On by Bill Mitchell http://bilbo.economicoutlook.net/blog/?p=24850How the Reserve Bank Implements Monetary Policy - Reserve Bank of Australia - youtu.be/1bBizpkB8dUTreasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 1) - youtu.be/70oxUtzdrecHail, S. & Joy, D. (2020). Federal Debt and Modern Money. Global Institute for Sustainable Prosperity. Policy Note No. 121 global-isp.org/policy-note-121Special thanks to Dr Steven Hailtwitter.com/StevenHailAusCredits:Written by PEGS InstituteSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioTank icon by Freepik from flaticon.comConfuse by evi1000 from the Noun ProjectAll other graphics created by Jackson WinterMusicLonely Troutman II by William RosatiOrison by Dan Bodan1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
A Government Surplus Hurts Us PEGS Institute 2020-11-29 | Surpluses are often touted as a government’s finest economic achievement, an ironclad demonstration of superior economic management. But what is so good about a surplus? A government surplus isn’t necessarily a good thing, and it isn’t necessarily a bad thing. Anyone saying that we should always want a surplus either doesn’t understand, or is trying to trick you. What you can be sure of is that a government surplus means less money in the hands of people and businesses than if it ran a deficitCome discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:https://www.rba.gov.au/chart-pack/government.htmlyoutube.com/watch?v=WS9nP-BKa3MPresidential Lecture Series at Stony Brook University, delivered by Prof Stephanie Kelton.Australian Federal Government Deficits 1901-2014https://www.abc.net.au/news/2015-03-18/deficit/6329644Data on US depressions from The Deficit Myth by Stephanie KeltonCredits:Written by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders, Gayrat Muminov from www.freeicons.ioUnicorn by Yeong Rong Kim, Magician by P Thanga Vignesh,Trick or Treat by myiconfinder, Confuse by evi1000 and Bill by Jordan Alfarishy from the Noun ProjectAll other graphics created by Jackson WinterMusicU In My Arms by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Why Do We Work? PEGS Institute 2020-11-22 | Most of us spend most of our lives working in one way or another. Most of us also eagerly anticipate the times when we can stop working. When we get the chance, how many of us really stop altogether? What motivates us to work or not work, and our feelings about the work we do?There is something more to work than material necessity. Doing work that you feel is meaningful and worthwhile tends to make you happier and healthier; doing work that you feel is pointless or shameful tends to lead to the opposite. The motivation to work for the sake of meaning is less obvious than for financial or material gain, but it may be just as potent. When thinking about the shape of society we want, it would be a mistake to think of work only in terms of the material gains it produces and delivers. Depriving people of meaning causes suffering just as surely as depriving them of food, shelter, medical care and comfort. Work will always be a vital part of human life, but work for work’s sake, even accompanied by all the material riches you can imagine, will never be enough. At the end of the day, what are we all really working for?Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources‘The Selfish Gene’, ‘The Extended Phenotype’ and ‘The God Delusion’ by Richard Dawkins.The Oxford Handbook of Meaningful Work - Edited by Ruth Yeoman, Catherine Bailey, Adrian Madden, and Marc Thompson - https://books.google.com.au/books?id=40SCDwAAQBAJ&lpg=PT233Volunteering and health benefits in general adults: cumulative effects and forms by Jerf W. K. Yeung,corresponding author Zhuoni Zhang, and Tae Yeun Kim - ncbi.nlm.nih.gov/pmc/articles/PMC5504679Data on Australia's Welfare: Volunteers (2019) - https://www.aihw.gov.au/reports/australias-welfare/volunteersCreditsWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders and Shabna Ashraf from www.freeicons.ioby Freepik from flaticon.comYacht by Becca, Palace by monkik, Knit by Icons Bazaar, Game by Adrien Coquet, Paint by Gregor Cresnar, Mobile Phone by Iconnic and Human Evolution by Gan Khoon Lay from the Noun ProjectAll other graphics created by Jackson WinterMusicNight Snow by Asher Fulero1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
What is Work? PEGS Institute 2020-11-15 | Work is a four letter word. The work we do is a key part of our identity, but for many it is also the bane of our existence. You could say that work is the fuel of an economy, without it everything stops. Which types of work attract payment, and how much, has a huge effect on the shape of society. It is worth considering why levels of payment often don’t line up with how beneficial work is to a community. The incentive of financial gain is a powerful motivator in people choosing what type of work to expend their exertions on, but it’s not the only one. Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSourcesThe Oxford Handbook of Meaningful Work - Edited by Ruth Yeoman, Catherine Bailey, Adrian Madden, and Marc Thompson - https://books.google.com.au/books?id=40SCDwAAQBAJ&lpg=PT233Volunteering and health benefits in general adults: cumulative effects and forms by Jerf W. K. Yeung,corresponding author Zhuoni Zhang, and Tae Yeun Kim - ncbi.nlm.nih.gov/pmc/articles/PMC5504679Data on Australia's Welfare: Volunteers (2019) - https://www.aihw.gov.au/reports/australias-welfare/volunteersCreditsWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Raj Dev, fengquan li, Free Preloaders from www.freeicons.ioThief and Violence by Adrien Coquet from the Noun ProjectAll other graphics created by Jackson WinterMusicThe Take Down by DJ Williams1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
Currency Issuers vs Currency Users PEGS Institute 2020-11-08 | In any modern economy, there is an important distinction to be made between currency issuers and currency users. Currency issuers are governments that issue their own currency by decree of the state and currency users are everyone else in the economy that does not have the capacity to create or issue their own currency. Currency users include households, individuals and businesses. In this video we go into the details about the distinctions between currency issuing governments and currency using governments. We look into how this affects countries that use the Euro and also look at how pegging their currency to the US Dollar contributed to hyperinflation in Venezuela. Note: The video lists China alongside other nations that issue their own currency. China does issue the Renminbi, denominated in Yuan, but it should not be inferred that China operates with a floating exchange system. Chinese currency is pegged to the value of the US Dollar in a unique operation. tandfonline.com/doi/full/10.1080/10971475.2016.1159905Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:The Deficit Myth by Stephanie KeltonEverything You Want to Know About Modern Monetary Theory by L Randall Wray | Bloomberg Markets and Finance - youtube.com/watch?v=7sd-ElKMbPIManhattan Project to prevent Hyper-Inflation by J.D. Alt - neweconomicperspectives.org/2020/03/manhattan-project-to-prevent-hyper-inflation.htmlThinking in a Modern Monetary Theory Way by Professor William Mitchell - youtube.com/watch?v=MLKrBsTQntAWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by www.wishforge.games, Charlie, icon king1, Free Preloaders, Raj Dev, from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicPixelated Autumn Leaves by Jeremy Blake1940's Slow Dance (Sting) by Doug Maxwell, Media Right Productions
MMT is Not Political PEGS Institute 2020-11-01 | Because it relates to government and government decision making it can be tempting to think about MMT as a political issue; as being a left wing or right wing idea, but it’s really not. MMT is not a decision, or an aim. It’s an explanation. It’s a tool. MMT isn’t a plan, it’s a better guide to implement whatever plan you decide on. MMT can be compared to a pair of glasses: it can help you see more clearly, but what you do with that clearer information is up to you.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:Professor William Mitchell - Thinking in a Modern Monetary Theory Wayyoutube.com/watch?v=MLKrBsTQntAL. Randall Wray - Modern Money Theory for Beginnersyoutube.com/watch?v=E5JTn7GS4oACreditsWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, Charlie, icon king1, Free Preloaders, Raj Dev and Shabna Ashraf from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicBlue Macaw by Quincas Moreira
Financial Crashes PEGS Institute 2020-10-25 | Our governments can’t get the economy right because they don’t understand it and we can prove it. In 2007 the theory and modelling governments and economists use, all over the world, said the economy was doing fine; it was only going to go up, and a crash couldn’t happen. Then a crash happened. We call it the Global Financial Crisis. The suffering it caused was immense and still goes on today. No one saw it coming.Except some people did. The crash was predicted by MMT economists and we can use their ideas to predict, and avoid future crashes. Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:No one saw this coming. Understanding financial crisis through accounting models - Dirk Bezemer https://www.rug.nl/research/portal/files/2646456/09002_Bezemer.pdfCan Goldilocks Survive? - Wynne Godley and L. Randall Wray (1999) http://www.levyinstitute.org/pubs/pn99_4.pdfModern Money Theory for Beginners - L. Randall Wray youtube.com/watch?v=E5JTn7GS4oACreditsWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by MD Badsha Meah, www.wishforge.games, icon king1, Free Preloaders, Raj Dev from www.freeicons.ioTank icon by Freepik from flaticon.comAll other graphics created by Jackson WinterMusicHeaven and Hell by Jeremy Blake
What is Money? PEGS Institute 2020-10-04 | In this video we debunk a few myths about the origin of currency and how currency is used in modern economies.Money is a currency of exchange. Likely the currency issued by the state.The common understanding is that ancient markets were structured around bartering and over time an medium of exchange was developed, such as a precious metal. This is an historical myth. There’s no anthropological evidence that any ancient society based an economy on bartering. In fact, quite the opposite. The earliest found writing often records financial transactions and details of debts. The earliest exchanges evolved out of debt.The government distributes the currency to the people by paying for goods and services rendered to the government and eventually some portion of this currency is then removed from the general economy by taxation. The government creates the currency, the currency is then supplied to the economy and then the government creates demand for that currency by taking it back in taxes. Government spending is the origin point of money. Taxes are the destruction of money. Government spending is limited only by the full employment of available resources, beyond which we would see inflation.Come discuss this with us onTwitter twitter.com/PEGSInstituteInstagram instagram.com/pegsinstituteFacebook facebook.com/PEGSInstituteWatch on Odysee odysee.com/@PEGSInstitute:cSupport us on Patreon patreon.com/PEGSInstituteSources:Debt: The First 5000 Years - David Graeber archive.org/details/Debt-The_First_5000_YearsModern Money Theory for Beginners - L. Randall Wray youtube.com/watch?v=E5JTn7GS4oAWhat Tally Sticks Tell Us About How Money Works - BBC bbc.com/news/business-40189959CreditsWritten by Andrew Johnson and Jackson WinterSpoken by Andrew JohnsonEdited by Jackson WinterIcons made by www.wishforge.games, Charlie, icon king1, Muhammad Haq, Free Preloaders, Raj Dev from www.freeicons.ioTank icon by Freepik, Fries icon by Smashicons from flaticon.comAll other graphics created by Jackson WinterMusicInto the Sky and Sunspots by Jeremy Blake
