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The Sorry State of the Global Economy

Full podcast + Links: https://www.lotuseaters.com/the-podcast-of-the-lotus-eaters-450-03-08-2022

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  1. Good video mostly on point with a great conclusion, but the 20:13 to 21:58 section was just cringe, FUD and roll my eyes obvious statements. Like obviously renewables need FF to be mined, made and deployed. And stuff on fire combusts and releases toxic fumes but the point is to generate more energy than is used to make them which they already do and have done for decades and to eventually displace fossil fuels.

  2. The thing about the official inflation rate is that it is manipulated to make it look as low as possible. This is basically done by choosing things for the "basket" that aren't costing more money to buy. What is even more ridiculous is that comparisons are made with inflation rates ten or twenty years ago ("aren't things better now vs that useless previous government"), but the things in the basket might not have even existed back then! Let's go back to only counting things that will always be bought: food, water, housing, energy. But if that happened, those who are not paying attention will be in for a bit of a shock.

  3. The answer is not to include housing in the CPI, Which stands for consumer price index by the way. you complain about them playing semantic game's but your "fix" is the same thing, more semantical shuffling. House's are classed as a fixed asset for a reason it's no myth as to why that is either, The answer is regulation and enforcement of said regulation. But hey what do I know…. Oh wait actually never mind you lot carry on. Like it matters.

  4. He is absolutely correct. The modern monetary system is the core of our cultural woes. If you corrupt a society's money, you corrupt the society. History has proven this to be true time and time again. And like with the One Ring: "Cast it into the fire! Destroy it!"

  5. 1. 2:24 Who creates that money? A private bank (Halifax, Lloyds, Barclays, HSBC, etc) or the Bank of England?
    2. 11:25 I think graphics cards are still pretty expensive.
    3. 21:36 Just because it can catch fire, doesn't mean it's bad for the environment.
    4. 21:59 My solutions are solar and nuclear. The problem with the latter is that Britain has too many overcast days, while the problem with the latter is having to prove that saying nuclear power is bad because of Chernobyl/Fukushima is like saying cars are bad because of the Ford Pinto.

  6. i had a mini argument over political things as you do with my liberal mother who doesn't understand It's not what YOU OR I believe that is important it's if it can make money

    i no longer care for moral sides of arguments i look at how it effects me

    so the argument about ABROTION and free health care
    sure if people Give it for free and everything is DONATED and it's not TAX PAYER FUNDED then fine

    health care can be free if people who give the health care do it for free also

    i do not believe in taxation at all i think debt slavery and taxation is just giving power to the state to dictate what is best for others And when my mother says men shouldn't have a say in a womans choices Well i will state WHEN THE WOMANS CHOICES REQUIRE A MAN TO PAY TAXES TOWARD IT i have a problem.

    everything is connected if money is involved.

  7. 9:00 CBDC is not the same as CRYPTO currency like bitcoin

    a CBDC is just digital cash, money printed out of nothing owned by the governments

    like china's SUB currency

    CBDC will be your ubi and people who own buisnesses will trade it but they will mostly trade with other countries in crypto

    this way you keep the plebs in a fictional money enviroment and real players of the game can own property and influence culture still.

    WE all want to make our own culture, people just forgot why people start buisnesses isn't to make money things that exclusivly exist to make money SHOULD BE abolished,.

    this is why halall loans don't allow for entertainment and non haram businesses for their 0% loans all loans should be 0% the bank should not PROFIT form lending fictional money and this is why the government wants control of the CBDC

  8. I am with you two for the most part but when he talks about Smiths invisible hand…it just isnt the case in the modern economy. I am a big proponent of it in theory as well, but with all the lobbying, straight up fraudulent advertisement, regulations to entry and so on, it just isnt the case. Especially so in the oil industry and BP. You have to understand that the major players in the modern western economies have their places solidified by government regulations that they lobbied for, by media propaganda and so on. It was BP that came up with the "carbon footprint" scam that basicly blamed the CO2 "pollution" (I couldnt care less about it) on everyday folks. It is BP that takes part in carbon credits trading and profits from it massivly. The carbon credits market will soon enough surpass the oil market itself in marketcap and size. There is no free market to speak of, invisible hand dosent exist anymore.

  9. you do realise that if there was to be a proper upriseing by the people, they would nuke us all and start again before giving up power, they have there underground bunkers ready. all the usual mainstream plitical partys are in on this and useless, why do we keep voting for them? want change? vote change, vote reform uk, or just shut up have nothing and eat zee boogs.

  10. One often overlooked issues with wind is that, by taking the energy from the air streams it disrupts the natural currents, making them weak and messing with our weather systems…

  11. I never thought of the energy industry working the same way most corporations do here in America until this video. That all the first World countries got their status off of cheap energy and now they're trying to prevent the underdeveloped countries from being able to obtain the same level of prosperity.

  12. 'Walkabout' used outside of Australia is strange and awesome. I'm an Aboriginal, not woke, and welcome to hear more foreigners use this useful term. It's like saying 'off with the fairies.'

  13. 8:42 no it fucking doesn't. bitcoin has no value. gold silver and even fiat have value. the later value is artificial created by the threat of violence. unless countries start charging taxes in bitcoin it will have no value. I guess it has a little value because of el Salvador but that's it

  14. It's almost like having a shadowy cabal of goblins attempting to sabotage economies across the world in service to their vision of a global order will result in economies tanking. Wild.

  15. Please don't fall for the standard thing that right-wing channels fall for: Petro-dollar influencers & Cryptocurrency pushers.
    The mere fact that this man advocates for Bitcoin > something like XMR, goes to show that he has outdated views.
    Now let's not say that he hasn't made ANY valid points, as his stance on monetary policy is quite simply true: if you print, it will become worthless.

    This man you're talking to is heavily biased because of his investments, and you gladly let him shill that to your viewers.
    It made me reconsider my subscription to the Lotus Eaters.

  16. In the US the lies are equally constant. Officially reported inflation is 9% but simply measuring it the way it was done 30 years ago has it at over 17%. In truth it's likely over 20% right now.

  17. "When the renewables are in a good enough state, so we can run grid of them"
    Yeah that is not going to happen. The biggest issue with renewables are same reason why we started with coal burning to begin with. You can't control the energy production.
    A more realistic perspective is to go full nuclear power as a base. If a country have capacity for hydro or geothermo power expand that, but those will be exceptions not the rule.

    Then in 80 years we will maybe have fusion power, by then hopefully we don't need nuclear anymore.

    P.S A wind turbine is a windmill but with generator insted of milling stones. Solar is just a cooking stone, there is a reason why mills and stoves don't use these technologies anymore.

  18. Bitcoin or any other E-currency won't do shit because it will either be controlled or outlawed by the State if it becomes too big of a problem. The problem is the existence of the State, we NEED a State at the same time the State is the cause of our woes. This dichotomy has plague humanity since the beginning of time and some crypto-currency won't fix it.

  19. I'll trust bitcoin when bitcoin "banks" don't get entirely cleared to the tune of millions within less than two hours out by a bunch of people pressing Ctrl+C and then Ctrl+V.
    The rest of the video offers solid points but fuck crypto.

  20. Capitalism is an inherently troubled system, when it works properly there is a perpetual underclass and in times of crisis it becomes more and more difficult to even engage with the market, even if you have the means to do so.

    Also, please don’t give me the capitalism/corporatism distinction, it’s nonsense — when the means of production are owned privately by individuals who use them as a means of making profit, that’s capitalism. Of course it can take different forms (though the state can never be *hands off*, it needs to protect and maintain the individual ownership of the means of production, ie interfere with the economy) but monopolistic mega companies, bailouts and corporate welfare etc are all ancillary issues, the driving force which creates this nightmare is the profit motive.

  21. I want to buy a home.
    Bank: cool, here’s some imaginary money.
    Me: cool buys house with said money.
    Rinse and repeat a million times.
    Butter costs £10.
    I’m no economic expert but it sounds like everyone without magic money is getting SCREWED. Bigtime.
    Imagine working for a decade for something that some suit can type into a computer on a whim. It’s straight robbery.

  22. The ring of power analogy is so fitting. Nobody should have the ability to “create resources” from nothing. It’s absolutely insane. Literally.

  23. I’ve got a degree in Finance, and one Golden Rule when it comes to Inflation I’ve learned is this:

    If you’re running a Fiat Currency, never allow your rate of inflation to get above your Economic Growth. You’re backing your currency with your economy under Fiat, so its growth and power is the leverage by which your currency is valued.

    Guess what’s NOT been happening under the current system?

  24. Nuclear has always been the silver bullet to solve the CO2 emission "problem". If we were in serious trouble we would be building them like crazy. The climate fear has always been just another distraction so we fight each other and don't pay attention to the ruling class. Another excuse for them to expand their power.

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