Please watch latest video on YouTube
I hate having to game the algorithm, but otherwise ideas don't get transmitted
My latest video builds the textbook “Loanable Funds” vision of banking live, and shows that, if that were correct, a crisis inevitably results from the government deficit. I then modify it to the real world I call “Bank Originated Money and Debt”, and the crisis disappears—because the deficit creates money, rather than borrowing it from the household sector, and the government debt to GDP and interest payments to GDP ratios stabilise, while the economy grows (which it doesn’t in Loanable Funds").
I think it’s a very informative video, but its views are way below the last one I produced: just 6000 in the first 10 hours, versus 80,000 for the one before (see screenshots below).
It may be that it’s too difficult for some viewers—several commenters argued that it was an infomercial for Ravel. This would make sense if I was shouting “buy one, get one free” every two minutes, but there are only 2-4 times I refer to it by name. I think they found the step-by-step exposition tedious instead.
That said, you can help get more people to watch this one by watching all of it yourself on YouTube at this link. Please do so—and “like and subscribe and hit notifications” and all the other promo stuff one has to say to get YouTube to promote our videos.
I will take the lead from the negative comments and make another one where I compare the end results, and work backwards to the difference between Loanable Funds and BOMD.