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International Business — Transcript

by Andrew Johnson · 8,472 words · 1,212 segments · language en · Watch on YouTube

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0:02hey welcome back to business
0:04101 yeah I'm wearing a green shirt today
0:08because we're talking about Green
0:09Technology and how to make a lot of
0:11money on it and remember the Democrats
0:13and the Republicans both said that you
0:16can make a lot of money on
0:18that pretty cool pretty cool so I
0:23promise you also that I would give you a
0:24picture of some green
0:27buildings yep so here you go
0:31here's a picture of the green oh I don't
0:32think I'm sharing am I share
0:40screen there you go so this is a Green
0:43Building I've seen this Green Building
0:45in um this is in Sydney
0:49Australia uh and you walk by and it
0:51cools down you say that's not much green
0:54it's gets a little bit more green but
0:56here's what it looks like at night
0:58here's really what it looks like now
0:59this is this is old I mean this is a
1:02real old picture it's covered up it's
1:04all covered up now um and they just used
1:07waste water to grow these plants yeah
1:11pretty pretty cool now this part right
1:13here this is where they take these are
1:16mirrors and it takes sunlight to shine
1:19on the parts of the building that don't
1:20get enough
1:22light pretty crazy here's some uh other
1:25pictures of green buildings to give you
1:26an idea this is what it looks like now
1:29when I was there look and it cools off I
1:31mean you go by and you can feel the
1:33temperature drop when you walk by these
1:35buildings it's a it's a a pretty
1:39amazing thing to to see see these things
1:43work okay so we talked about EVS
1:49electric vehicles and people say I don't
1:51like EVS because there's what happens
1:54that the battery runs out well you
1:56charge it just like what do you do in
1:57your car but it's hard to find a
2:00charging station uh no it isn't let me
2:03show
2:07you oh that was my Tesla my Toyota Tesla
2:11so that's not the picture I wanted to
2:13show
2:20you here you go now this is a map of the
2:24United States as you can tell and you
2:28say well that's that that's there aren't
2:30too many there in Washington are there
2:32there aren't too many charging stations
2:34in Washington well here's Let's uh zoom
2:37in a little
2:44bit uh there aren't too many did you say
2:47I think that's a lot actually
2:50so let's zoom in here bellie where we
2:55are
3:01uh the charging stations
3:07everywhere yeah pretty crazy stuff so
3:10let's look even more let's zoom in on
3:16Belleview so here's Belleview college
3:18right here we got a whole bunch of them
3:19here you know the thing about charging
3:21stations is a lot of the time the
3:24charging stations are empty which means
3:28parking so if you go to school at B
3:30College during the normal time you got
3:32to pay you got to find a parking spot
3:34and that can be really really difficult
3:37and so if you get one of these there's
3:38always a parking space for the for the
3:40for these by the way I never use these I
3:43never use it because I my car gets 100
3:44miles 90 milish something like that to
3:47go back and forth and I live 30 miles
3:49away so I haven't gone to the gas
3:51station and you know what so once in a
3:53while I drive my pickup truck and I have
3:55to go to the gas station and I forgot
3:57how smelly those things are and
4:00just like you don't do it not with the
4:02Eevee pretty cool
4:06stuff okay wind farms you gotta love
4:11these big wind farms so let's look at
4:13some wind
4:14farms so you see these who's the number
4:17one producer in um uh wind
4:21energy
4:24China wow that's interesting China's the
4:27number one
4:33now let's see so China second richest
4:35country in the
4:36world and they are the number one
4:39producer of wind energy in the
4:43world who do you think is number
4:48two US United States number two in the
4:52world okay so the richest country in the
4:54world and the second richest country in
4:55the world both produce a lot of wind
4:57energy
4:59H who do you think's number
5:03three
5:05Germany wealthy country right wow well
5:09pretty crazy stuff the first time I
5:11actually had seen one of these windmills
5:13was when I was in Germany uh yeah so
5:16Germany India now India is um
5:21uh they're they're poor country right so
5:24they're not one of the big rich
5:25countries but they have a lot of
5:28capacity yeah
5:30uh Spain wealthy country United Kingdom
5:34wealthy country France wealthy country
5:37Brazil maybe not so much right Canada
5:41wealthy company Italy wealthy country
5:43you kind of get the point here right so
5:45India why does India do it because they
5:47build the stuff and Export it and they
5:49make money on
5:51that wow well wind farms are bad right
5:55they're bad aren't they they they kill
5:57birds and bats and things like that and
5:59they do they do so you're a little bird
6:02you're flying up
6:03there and you don't even see this thing
6:06and all a sudden Wham you hit it and you
6:09you boom and you're dead right and so
6:11they do kill some birds actually um
6:14petroleum uh comp petroleum creation
6:17kills more birds than that but they
6:20still do kill um Birds now couldn't you
6:24make a lot of money if you could figure
6:26a way to keep them from killing so many
6:28birds you patent that I mean that's big
6:31by the way they found out how to keep
6:33you from killing so many birds right
6:35they figured out that if they paint one
6:37of the blades black the birds can see it
6:41I don't know I don't I'm not a bird I
6:43don't know how bird brains work
6:46but if they if you paint one of them
6:48black so you have the three blades and
6:50paint one of them black turns out the
6:52death rate for Birds just drops Like a
6:54Rock like like a dead bird so uh yeah
6:59that's pretty cool pretty cool okay um
7:02they even have
7:05um let's see
7:11herec what happens to all the old wind
7:14turbines see they they don't last
7:16forever and the technology of making new
7:19ones is getting so much better that
7:20they're not as efficient but let's say
7:22you want to start up your own wind F if
7:24you have land that has good wind did you
7:27know that you can get a free loan
7:300% interest loan take that money from
7:33the loan build your
7:35windmill take the the the profits from
7:38the electricity produces pay off your
7:41loan then in a few years you have the
7:44windmill wow wow but what do they do
7:46with all this there's all sorts of stuff
7:48you'll hear you'll say well they don't
7:50know what to do with all these things by
7:51the way do you know where most where a
7:52lot of these are made anacis Washington
7:56go up to anacis Washington and next to
7:58anacis
8:00Marina there's a big building there and
8:02that's what they're making there so
8:04here's some things that they can do with
8:06the exr they can make them into pellets
8:08and that's nice I like this one now you
8:11see playgrounds all the time doesn't
8:13this look like a way more fun playground
8:16just chopped up uh chopped up um
8:21propellers pretty crazy stuff so you can
8:24make a lot ofy so you can make a lot of
8:26money just on propellers pretty crazy
8:28okay So Clean Coal there's no such thing
8:32as Clean Coal right it's dirty actually
8:35there is India uses
8:38coal and they in parts of India doesn't
8:42produce any pollution wait I thought
8:45Coal's dirty Coal's dirty well how do
8:48they do that well it's actually pretty
8:50cool they go into in in India they take
8:52the the power plant they put a a filter
8:56on the top to get all the hard Parts out
8:58right and that's really that's old
9:00technology they've done this forever and
9:01ever it's called a scrubber they can we
9:04we use them on all of our Co factories
9:07they're pretty Comm so you don't get the
9:08little particles out there but what they
9:11do with the leftover CO2 from burning
9:13the coal is they capture it they take
9:17that CO2 and they turn it into soda ash
9:19which is very similar to like baking
9:22soda then they sell that soda ash to us
9:26we take that soda ash break it back down
9:30again so now it's carbon dioxide gas and
9:32we inject them into these deep Wells
9:37okay so you've heard something called
9:38fracking fracking is where they take a
9:42uh a drill they angle it they drill down
9:44sideways really really deep and then
9:45they put a lot of pressure and it
9:47fractures The Rock and then the oil
9:48comes out that's what fracking is right
9:51so normally to get more oil out they use
9:54these really toxic chemical solvents to
9:57get it out you don't want to eat this or
9:59drink this It Gets In The Water Supply
10:01they say it doesn't it does and so now
10:04people are starting to get sick and
10:05everybody says they hate fracking so
10:07they found out though instead of using
10:10those nasty chemicals they can use the
10:12CO2 to dissolve the oil and they
10:16actually get more oil using the
10:19CO2 so it squirts out way more oil so
10:23the so there's no pollution going in
10:25there squirting out way more oil and
10:27what do they do with the leftover CO2
10:28they leave it down there so it's
10:30sequestered so it's other words it's
10:32locked away it's not in the
10:34atmosphere wow W you know in the UK you
10:38can go to trains that run on
10:41hydrogen yeah yeah yeah uh you can go to
10:44ride on a poo poo bus you say a poooo
10:47bus a PO poop bus hug Farms so this bug
10:54this bus runs on human
10:56poo yeah this is there's no seats in
11:01there like this this is kind of a joke
11:03but but it really does and I've I've
11:04been I was on a bus that uh ran on poo
11:07in Denmark you can't tell it doesn't
11:09stink it's not like they they've got
11:12filters and whatnot and things so you
11:14can't even tell now how much does it
11:16cost almost nothing now it gets even
11:19more interesting so if you've ever
11:20driven down the highway and you've been
11:22next to a hog farm Denmark has more Hog
11:24Farms than anybody else so but if you
11:28drive down the road next one it's
11:30painful it hurts because they smell so
11:34bad you don't want to go next live next
11:36to a hog farm right so what they found
11:41out is if they take that hog poop and
11:43put it in this big digestor and then
11:46they can take it turns into methane
11:48which methane is bad on the environment
11:49it's you don't want methane right but
11:52normally it would that's what the hog
11:53smell is it's the methane so then they
11:55take the methane out and they use it to
11:58burn bur for cooking cooking cooking
12:02because it's burning just like it's meth
12:05right and they can use it on engines
12:07they can use it for all sorts of stuff
12:09so now it cleans the environment with
12:11hog
12:12poop who would guess you could use hog
12:15poop to clean the environment I sure
12:19wouldn't yeah trains so in United States
12:23if you want to go to someplace we fly
12:26right if you want to go very far you fly
12:28so you drive into the park you find a
12:31place to park your car in the United
12:32States you get on the airplane you fly
12:34to New York City you get out you rent a
12:37car then you're driving all over the
12:39place then when you're back you're
12:40finished you build a car back up you
12:42give them the car then you fly back home
12:44and then drive back home in Europe a lot
12:47of people take the train so and their
12:49trains run off of electricity from those
12:51big
12:52windows so they drive their trains up
12:55they drive their car onto the train they
12:57take their car on the train they park it
13:00then they get up and walk around on the
13:02train and they might go to the lounge
13:03car or watch a movie car and they're
13:05sitting there
13:07eating or having a drink watch going on
13:11their train going through going across
13:14Europe that's a lot of fun then if it's
13:16very far they have to go then they just
13:18get a little sleeper they they get a
13:19little sleeper room right with it's got
13:21like six beds in it and you go to sleep
13:24and then you wake up the next
13:26morning and you go to the Lounge car
13:30again and you get breakfast and then
13:32they pull into the the city that you're
13:34supposed to be in and then you walk to
13:36your car and you pull your car off of
13:37the way you go right and it's all
13:40used it's all all run off of electricity
13:44also in Europe they're pretty smart they
13:45say you know what if you go to Europe
13:47you don't see that many big trucks you
13:50don't I mean I live in North Bend next
13:52to truck stop I see a lot of big trucks
13:55right Europe you don't see them right
13:58and here why because they're smart they
14:00say well we have all these
14:02trains and the trains run at night we
14:06can run the trains at night on
14:07electricity on reserve electricity that
14:09we have and we'll move cargo at night on
14:13the trains instead of using the roads so
14:16now the the the traffic is not so bad
14:18it's still bad in parts of of Europe
14:20yeah but it's not as bad as it is here
14:23in Seattle which is pretty terrible
14:26right and there's no there's less
14:28pollution it works real well now there's
14:30another video here I like to show you
14:32it's uh I'm I'm going to post it so this
14:35will be on the posted things but this
14:37video has pictures of where they use
14:41waves waves like ocean waves to produce
14:45electricity how many waves are there
14:48well a lot right and they can use they
14:51use that to make electricity not only
14:52that so then they have and I've seen
14:55these I've been in Denmark and I've seen
14:56these things so they'll have these
14:57things these big pontoons that take take
14:59the wave energy and turn it into
15:01electricity then they put a windmill on
15:04top of it so it gets wind energy and
15:07wave energy to produce free electricity
15:12you say well boy that's pretty smart no
15:14no it's even smarter than you think
15:17because one of the problems with with
15:20the with the Fisheries you know fish
15:22were we're depleting the stock of fish
15:24in the world it's going down right so
15:27they said what are we going to do about
15:28that Well turns out that these big wave
15:32thingies are a great place for fish to
15:36hide from the birds so what happens they
15:39put these wave things out there the fish
15:41just goes crazy to this these places
15:43they breed they produce lots of other
15:45little fish and what eats little fish
15:49bigger fish then the fishermen go on the
15:52outside and catch the bigger fish so you
15:54get food and electricity from waves and
15:58wind
16:02wow pretty smart yeah you can make so
16:05much money okay living buildings already
16:08talked about
16:10that diamonds yeah I love diamonds
16:13diamonds are terrible on the environment
16:15they really are first off it's not a fun
16:17job you do not want to work in a diamond
16:20Factory second it fuels International
16:23conflict it's terrible so let's look at
16:25a diamond a diamond um
16:30uh
16:34mine so I'll send you this link too
16:37you'll have this link so it's diamonds
16:39yeah that's pretty pretty um does that
16:43look like that's good on the
16:46environment it doesn't to me right this
16:49looks pretty bad actually right and this
16:52is just one of them they they're they're
16:54huge right and you don't they're
16:56dangerous you don't want to do this so
16:58actually by creating artificial diamonds
17:01we're making money and saving the
17:06planet autonomous driving it autonomous
17:09driving how's that environmentally
17:12friendly it's not yes it is because what
17:15we're gonna old Elon he's pretty smart
17:18right he says we let's get autonomous
17:22trucks so what's going to happen here
17:24after we get the autonomous truck which
17:26is going to be five s 10 years from now
17:29will finally have those things up and
17:31running they're not going to run during
17:33the day they're going to run at night
17:36when nobody's on the road right so now
17:38you're driving down you try to drive
17:40from from Belleview to Renton you're
17:44like stuck in traffic all that end are
17:46barely moving because those trucks are
17:47taking up a lot of room right now
17:50imagine you get them off the road say
17:52well so they they load them in the
17:54evening then at at like one o'clock in
17:57the morning they press a button the
17:58truck drives to its
18:01location
18:02Parks then we get up Drive our cars now
18:05there's no trucks on the road so it's a
18:07lot easier for us to drive our cars
18:09right and we get there and it's it's
18:11saved idle time so you're not sitting in
18:13traffic
18:14going you know what's nice about
18:16electric car too when you stop it stops
18:21right so what on a normal car the engine
18:23keeps running and you're going like this
18:25right and you don't even know it until
18:27you drive an EV and then you're going
18:30like oh it's different so it actually
18:33you're not as worn out if you ever taken
18:35a long airplane flight you ever noticed
18:37that you're tired after an airplane
18:39flight when you shouldn't all you did
18:40was sit on your butt all day long and
18:42yet you're exhausted because you're
18:44actually moving the whole time and you
18:46just don't know it well this takes that
18:48away
18:50Wow money money
18:53money okay
18:55now Microsoft currently is carbon
19:00neutral they don't produce any carbon
19:03right Microsoft very wealthy company
19:06Amazon is becoming carbon
19:09neutral Microsoft is actually is
19:13actually thinking about becoming carbon
19:15negative they're working on that so if
19:18you have any money invested in
19:20anything most of that money goes through
19:22this company called Black Rock right
19:24it's black rock is this huge financial
19:27company that you never hear about but it
19:29exists so Google Google it they have
19:32over7 trillion worth of Investments now
19:37if you look at it you'll say they're not
19:38worth s trillion because it's other
19:40people's money but they're investing it
19:42so I have some money in the stock market
19:44it goes through Black Rock I get
19:46statements from Black Rock all the
19:48time they announced that they're going
19:51to start pulling their
19:54investments from companies that
19:57don't in climate change why do you think
20:01Microsoft is carbon neutral not because
20:03they say well let's save the planet they
20:06might but that's not it they're doing it
20:08because now black rocket is going to
20:10start taking money that they had
20:12invested in coal and these other things
20:16and they're gonna say nope let's invest
20:18it in these companies and they so
20:20Microsoft is going to get lower interest
20:21rate
20:22loans remember all companies have debt
20:25so now they're getting even lower
20:27interest loans they're going to reinvest
20:28that that's why and black rock isn't
20:32doing it because they're Tree Huggers
20:34they are not Tree Huggers right anyway
20:37at all right but they're doing
20:41it so six uh uh from the United States
20:46government six charts that'll make you
20:48optimistic about America's Clean Energy
20:57Future say says PowerPoint not
20:59responding there it
21:06goes I got to clear these these uh
21:09little um
21:12uh instances off because it makes it
21:15makes my makes me shake on the computer
21:18screen so that's why I'm doing it okay
21:20landbased wind power look at this this
21:23data stops in
21:242015 okay what is happening to the cost
21:28of
21:30power it's almost free isn't it so for a
21:33kilowatt it used to cost 65 cents to
21:36make a kilowatt and now it costs
21:39about eight
21:42cents wow wow looks what's happening to
21:45capacity it's going up did you know that
21:48maintenance on one of those um wind
21:51those big windmills did you know that
21:53that's one of the fastest growing jobs
21:55in the United States sure because you
21:57got to climb up there and it's kind of
21:59scary so yeah not my thing but if you're
22:02not scared of
22:04heights it's there's there's you got a
22:07job you're gonna have a job
22:09forever because we're never going to get
22:11rid of wind power right isn't going to
22:14happen Okay then this is solar PV photo
22:20voltaic and this is utility scale so
22:22this is large this isn't where you put
22:25the solar panels on your house or
22:27something this is where large companies
22:28like your co-ops or places like that
22:31install so if you look at the price of
22:35electricity it's going down you look at
22:38the price of
22:40capacity it's going
22:46up distributed generation this is where
22:49you put them on your house I don't have
22:51them on my house I live on the side of a
22:53mountain that faces North yeah I in the
22:57winter and see this H right well I see
23:00it on the other Mountain cross that I
23:01look at but anyway so I don't have it
23:03but I do on my boat so I bought these
23:06solar panels in my boat about like 15
23:08years ago I paid about $1,000 for each
23:11one of those solar panels I figured
23:13solar panels are they help make it so
23:16the batteries last longer and the
23:17batteries are really expensive so I said
23:19not what the heck I just bought some for
23:21the same size for $100
23:24each yeah the prices just come down so
23:27much in fast is going up now we live in
23:31Seattle in Seattle people say but we
23:34don't get much sun we do during the
23:36summer we get a lot of sun during the
23:38summer you can put those things out
23:40there the sun's up all day long well by
23:44definition all day long but anyway it is
23:47but what about in the southwest part of
23:50the United States oh my gosh they get
23:52lots of sun all year long yeah makes a
23:56lot of sense doesn't it
23:59okay LED lighting oh my gosh I remember
24:04when LED light bulbs cost about $180 for
24:07a light
24:09bulb yeah right right and how much do
24:12LEDs cost to
24:14operate like nothing so you know
24:17incandescent light the light bulbs with
24:19the little wire in them right they're
24:21going to be phased out of the United
24:22States they are going to become
24:24illegal wow well uses so much less
24:28Electric
24:32and e that's my favorite I got to love
24:35electric Nickles so when I I bought a
24:37Toyota Prius a long time ago when they
24:39were really really ugly not ugly now but
24:43really really ugly you know the car it
24:45was lime green oh it was just people my
24:49friends just teased me about that and
24:51you got a minty green Toyota Prius yes I
24:53do so my minty green Toyota Prius people
24:56said don't get one of those those
24:57batteries only last so long and then new
25:01battery is going to cost you
25:03$115,000 well what happened to the price
25:06of
25:07batteries it's dropping and dropping and
25:09it's dropping it's dropping right people
25:11say I don't want to get a Tesla because
25:13those batteries are really
25:16expensive the batteries on a Tesla are
25:18guaranteed for 100,000 miles that's the
25:21they're they're guaranteed right I
25:24talked to a Tesla guy who he was he was
25:27mechanic that's what he does he works on
25:30Teslas I said how long do those
25:32batteries last he
25:34says I've seen a number of cars with
25:37over 300,000 miles on those batteries
25:39and they still work fine they just
25:41what's what goes bad on them is the
25:44capacitors right and if you race around
25:47it causes the capacitors to Arc and then
25:49we have to replace capacitors but the
25:51batteries they last forever and
25:53capacitors are not that big of a deal
25:55all cars have capacitors we've had them
25:56forever basically it's
25:59is wire and paper wrapped up it's
26:02nothing
26:07right all together now cost reduction
26:10since 2008 everything is just dropping
26:13this is where you want to get in this is
26:16the area to get in to make
26:19money that's what Bill Gates and that's
26:23what everybody's talking about now said
26:26but Andy the problem with solar power
26:28power is they can't store the
26:30electricity you don't have any
26:32electricity at night well that's when
26:33wind kicks in that's when Hydro that's
26:36when the dams can kick in too but in
26:40Australia remember you have to say
26:42Australia in Australia they're working
26:45on a battery that's going to be
26:49underground and it's going to be
26:52huge right so they're going to have this
26:54big battery out out in the middle of
26:57nowhere basically they take electricity
27:01that's generated during the day use that
27:04to pump water up
27:06high then when the Night Comes they use
27:09that water to generate electricity so
27:12when you have excess electricity they
27:14pump the water when you don't have
27:16excess electricity when you need the
27:18extra electricity you take the
27:21water wow doesn't hurt anything fact if
27:26anything you you could use part of that
27:28extra even if you get even more extra
27:30electricity you can use that for
27:32irrigation and trust me uh Australia
27:36needs irrigation they got some problems
27:39with with
27:42water okay now we're gonna skip a little
27:45bit now we're going to get into What's
27:46called the
27:49IMF IMF stands for international
27:53monetary
27:55fund fund so monetary policy is the
27:59supply curve for
28:01money so the IMF is international
28:05monetary fund a lot of people say they
28:07don't like the IMF and they say IMF and
28:10WTO you'll hear a lot of people say IMF
28:13and WTO in the same
28:16breath they think that they're related
28:19they are not related the only thing that
28:21IMF and the WTO have in common is they
28:24both have three
28:26letters nothing to do with each other
28:28other right but let's talk about the IMF
28:31so the IMF is kind of a world Bank it is
28:35not the World Bank we have a world bank
28:38but it's similar to a world bank it's
28:41kind of like Coke and Pepsi aren't they
28:44pretty much the same
28:46thing they are oh no Pepsi's different
28:49than cocaa I don't know you give you you
28:53just if it's the hot day and you give me
28:55one or the other and you say which is it
28:57I'm GNA go and I don't care right and
29:00they have other stuff besides COC both
29:02PepsiCo and Coca-Cola make way more than
29:04just the cola so who makes Sprite I
29:08don't know I don't care who makes s up
29:10they're the same thing right so the
29:14IMF is kind of is a lender of Last
29:18Resort which means if nobody will lend
29:21money to you your government can go to
29:25the IMF and borrow money
29:29but you don't want to go to them but if
29:31nobody else will give it to you and you
29:33need the money you could either do like
29:36Zimbabwe did and just print lots of
29:38money and say hey look how good of that
29:41didn't turn out so well did it or you
29:43can go to the IMF and borrow money so
29:47the IMF basically they take money from
29:50EV everybody who's has any money at all
29:53right so United States we put a lot of
29:54money into the IMF Brazil they put money
29:57in the IMF China they put money in the
30:00IMF right so every country all all the
30:02countries that can afford to put some
30:04money in there we put it in then when
30:06somebody needs to borrow it they go to
30:09the IMF and borrow money to keep their
30:12country stable right now the
30:16IMs usually only lends money to poor
30:21countries if you're a poor country
30:25that's where you go to the IMF there's
30:26only one exception to that and that was
30:28Iceland in 2008 I think Iceland had a
30:31big banking problem and they borrowed
30:33money but Iceland is the only wealthy
30:36country to ever borrow money from the
30:38IMF okay
30:41so let's talk about micle so Mexico was
30:46having a problem a financial problem
30:49right first off they put everybody on
30:52welfare if you're rich you got on
30:55welfare if you're middle class you you
30:58got welfare and if you're poor you got
31:00welfare right so why would you go to
31:03work if you get welfare and you don't
31:06need to do that government just gives
31:08you money why go to
31:09work we think well Mexico is not a very
31:12rich country how can Mexico afford to
31:15put everybody on welfare I'll give you a
31:19hint
31:21lb J Lyon M Johnson they printed money
31:26hey that's how you do it right so they
31:28printed money give it to everybody hey
31:30nobody has to work everybody's happy
31:31because of course they got inflation
31:34terrible inflation and nobody's working
31:36GDP starts to go down this is it was a
31:40disaster so the
31:42IMF Mexico went to the imath and says we
31:44want to borrow money because nobody's
31:46else lend us
31:47money they said no we're not going to
31:50lend you money because you'll just blow
31:52it you'll never pay us back well the
31:55United
31:56States we put in a lot of money in the
31:58IMF okay do you want to live next to a
32:01rich person or a poor
32:05person I want to live next to a rich
32:07person everything's better about being
32:09next to a rich person a few years ago my
32:12neighbor's house caught on fire I was
32:14lying in bed I wake up middle of the
32:17night and I can feel the heat from their
32:19house on fire on my face I picked up my
32:22phone had 911 they go 911 what's the
32:25nature of the emergency I go my
32:26neighbor's house is on fire they go yeah
32:28we know and they hung up
32:30on okay we had a fully staffed fire
32:34department less than a mile
32:37away it took them 45 minutes to get to
32:40my neighbor's house what do you think my
32:43neighbor's house looked
32:45like what was gone right it was gone
32:48right so what if Bill
32:51Gates his neighbor's house catches on
32:54fire and Billy grabs his phone dials
32:59911 are they going to say to him 911
33:02what's the nature of the emergency no
33:04they're going to say yes Mr Gates how
33:06may we help you and he says uh my
33:08neighbor's house is on fire they go yes
33:10satellite tracking has already told us
33:12that we're manuvering the the uh uh
33:16anti-fire device satellites as we speak
33:19there should be a missile with water on
33:22it uh detonating 200 feet above the
33:26house and that house will be uh will the
33:29uh fire will be gone in less than two
33:31minutes I mean you know what it's very
33:34different than yes we know hang up and
33:36yeah it's I want to live next to Bill
33:39Gates right it's it's just it's
33:41different so the United States we said
33:43hey we put our money into the IMF we
33:46want our money to go to
33:48Mexico the IMF
33:51says okay but Mexico Stop Printing money
33:55and take people off of welfare Mexico
33:57say
33:58okay we will now give us the money we
34:01did and so the United States put the
34:03money in the IMF they're kind like a
34:04bank right then the bank lends the money
34:07to the to the Mexican Government and
34:10they use that to build roads and
34:13libraries and schools and hospitals and
34:18what do you think happened to their
34:21GDP created all those jobs so now not
34:26only did we save Mexico from falling
34:29apart we got paid back ahead of time and
34:34we made a
34:35profit woohoo I mean that's great isn't
34:37it we saved our neighbors we made money
34:41wow everything's great and the people in
34:43the imfis and we're
34:47smart look how smart we are we're smarty
34:50smart pants we are just like smarter
34:52than anybody else but here's something
34:55if somebody tells you they're smart
34:58are they really that smart do they have
35:00to tell you that they're
35:01smart it's kind of like somebody comes
35:04up to you and say hey I want to borrow
35:06,000 dollar from you I'm very honest I'm
35:08the most honest person in the whole
35:10world I've never ever stolen anything
35:13I've never broken I've never lied I'm
35:15the most honest person you lend me that
35:18money and I'll get you $5,000 back
35:22tomorrow are you going to lend them
35:25money I wouldn't cuz it's some has to
35:28tell you how honest they are it's like
35:29somebody telling you how smart they are
35:32they're not very
35:33smart so then the IMF touched another
35:37country and that country was called
35:40Thailand so Thailand was having an
35:43economic problem right it it was a mess
35:46in Thailand so Thailand says hey we want
35:50to borrow some money from the
35:52IMF IMF says nope we're not going to
35:56lend you any money because you won't pay
35:57us back
35:59so then Japan went to the IM IMF and
36:02Japan says hey we're a rich country just
36:05like United States United States you
36:08took their money you gave it to their
36:09poor neighbor made real good
36:11relationships with with the Lo with the
36:13with the other country and they made a
36:15profit on it and we want to do the same
36:17thing with our money we want our money
36:19to go to
36:21Thailand they said IMF says okay we'll
36:24talk to Thailand and they go up to to
36:27Thailand and say says hey you need to
36:29take some people off of welfare you got
36:31way too many people off of welfare and
36:33the Thai government says really we don't
36:36really have too much welfare going on
36:38here yes we do we're smart you're
36:41not we we know what we're talking about
36:43take people off of welfare see the
36:46problem though in Thailand was there
36:47were enough people on welfare basically
36:51you needed welfare to pay for medicine
36:53otherwise you would die that's about all
36:55the thing all you have for we and the
36:57IMs says no take them off the Tha
37:00government
37:01says okay and they took them off a
37:04welfare well what do you think happened
37:05those poor guys they're dead they
37:09died yeah the IMF killed them basically
37:12okay then the IMF says Hey
37:15Thailand you're printing too much money
37:18you need to stop printing so much
37:20money and the Thai government says if we
37:23stop printing money will he give us the
37:25money from Japan sure we'll do that
37:28see the problem in Thailand was they
37:30weren't printing enough money there
37:32wasn't any money well they're poor right
37:35no no poor and not any money are very
37:37different I have $150 trillion do does
37:42that mean I'm
37:43rich I have a lot of money $ 150
37:47trillion dollars right it it's worth
37:50nothing it has no value there's no value
37:52in the $150 trillion dollar that I have
37:55doesn't mean I'm rich because I'm that's
37:57not Rich right $5 worth something that's
38:00worth $5 I'm bragging about having $
38:02five you're calling me Rich no no no
38:05right so they didn't have any money what
38:08do you mean they didn't have M they
38:09didn't right so how do you do business
38:13without money you heard the phrase it
38:15takes money to make money there's no
38:17money what do you do well you barter
38:20that's what you do you trade you don't
38:22use money we use money because it's very
38:24efficient money is way efficient so
38:28let's say for instance you have a
38:29cow and you need a cup of sugar but you
38:32don't have any money you just got the
38:34cow what do you do you say well sell the
38:38cow nobody has money to buy the
38:40cow what do you do with the cow well
38:43I'll cut off an ear and trade that for a
38:45cup of sugar well you could but is that
38:48very efficient you could say I'll trade
38:51the cow for a whole bunch of sugar do
38:53you really want a cow's worth of
38:55sugar what do you do with that going to
38:57store it and then it's going to get wet
38:59and moldy and it's just a big mess isn't
39:01it right but they didn't have it so they
39:04said okay we we won't print any more
39:06money give us the Japanese money and
39:08they did so money start to flow from
39:10Japan into
39:13Thailand see and part of that money was
39:16spent building roads and bridges and
39:18libraries and
39:19school
39:21but if you Google the most corrupt
39:24governments in the world forever and
39:26ever and ever Thailand's always been
39:29really really high on that list the Thai
39:32governments Thai governments are the
39:35least stable governments in the world
39:38they have a coup every two or three
39:40years they just do this military comes
39:42in they kick out the president they kick
39:43in a new one they bring in a new person
39:45so the government in Thailand took the
39:48money from the IMF they used some of it
39:51like they should have but a lot of it
39:53went in their pockets or their friends
39:56pockets and they had a lot of parties so
39:59this was a fun time to live in Thailand
40:01because all this money's flowing in from
40:03Japan they're just going crazy having so
40:05much fun with all this money now some of
40:08it did they built some schools and
40:10libraries and it started to turn their
40:12economy around right then Indonesia says
40:16hey wait a second and Malaysia says hey
40:19wait a second Japan's investing in
40:22Thailand Japan rich country they're
40:24investing in Thailand they know
40:26something we don't so they said we want
40:28to invest in Thailand the Thai
40:31government says bring it on woohoo you
40:34bet you we'll get you a real good deal
40:36on your investment right so
40:38then uh South Korea says wait a second
40:42everybody's pouring money into Thailand
40:44we want to put some money in they go you
40:46beta right so then Japan said hey we we
40:51lent you some money you need to start
40:53paying us back and the Tha government
40:55says no problem
40:57and they take the money that they got
40:59from
41:00Malaysia to start to pay off the
41:04Japanese the Japanese going woohoo look
41:07at us we're getting our money back W
41:09this is
41:11great no it wasn't basically they're
41:13taking one credit card to pay off
41:15another credit
41:16card and it's called that's called a
41:18Ponzi
41:20scheme pyramid bad right but nobody knew
41:25right so go everybody's pouring into
41:27Thailand all of a sudden Thailand's debt
41:30load got so high that people said well
41:34maybe we should stop investing so people
41:36stopped investing money in Thailand Now
41:39Thailand doesn't have money to pay off
41:40their debts do
41:42they so Japan says we're ready for our
41:45next uh in installment to give us our
41:47money back and Tha says we don't have
41:50it what do you mean you don't have it
41:52it's gone what do you mean it's gone
41:55don't know well you need need to pay us
41:57back oh no no no it's not us to pay you
41:59back it was the other government right
42:02the one that got couped two or three
42:04years ago right they borrowed the money
42:07we didn't borrow the money from we wait
42:09wait wait wait we Japan did not lend
42:12money to the Thai government they lent
42:15money to
42:16Thailand right the whole country no no
42:18no that's different right so now
42:21Thailand all of a sudden everybody just
42:23says I'm getting my money nobody put any
42:25more money in Thailand in fact everybody
42:27says I'm going to get my money out of
42:29there as fast as possible because it's
42:31going to disappear right it's called a
42:33run on the bank where everybody just
42:34goes to the bank I want to get my money
42:36out before the bank closes so if um Bank
42:41of America they said hey we're gonna go
42:42bankrupt tomorrow and you've got $10,000
42:46in a savings account in Bank of America
42:49are you gonna leave that money in Bank
42:50of America and let it go away to nothing
42:52no so now everybody pulls the money out
42:55of Thailand right and they're economy
42:59goes right if you go to Thailand you'll
43:02be driving on a nice highway right they
43:04have some nice highways you're driving
43:06on it all of a sudden it turns to a
43:07gravel road just like boom or mud road
43:10because it's kind of wet there right
43:12right you drive down you're driving down
43:15the highway and you see all these big
43:16beautiful buildings that aren't finished
43:20there's no windows on them they just
43:21stopped it's like all of a sudden one
43:23day everybody just stopped so now
43:26they're people died right their economy
43:29crashed all sudden it crashed all the
43:32locally eom this is called the Asian
43:33economic crisis destroyed so many lives
43:36so much
43:37wealth it was bad news is the IMF a good
43:41organization or a bad organization now
43:44do smart people do stupid
43:46things yeah yeah and they figured out
43:49something they found out that groups of
43:53people tend to be have they can be
43:56Dishon
43:58individuals are not so if I said I said
44:03hey would anybody need to borrow $20 20
44:07us and I'll lend it to you just pay me
44:10back by the end of the year and you say
44:12you know what I need $20 Andy can I
44:15borrow $20 I give you
44:17$20 what's the possibility you will pay
44:19me back at the end of the
44:21year really good right because I had to
44:24put in grades right so of course you're
44:27going to pay me back aren't you because
44:29you're an honest person and most people
44:30are honest but what if I said
44:33hey I'm going to leave ,000 doll in
44:37front of my door of my office you know
44:40where that is a building I'm never there
44:44now because of the because we're online
44:46but a
44:48building just make sure you pay me back
44:51by the end of the year and I go there
44:53what's the possibility I'm going to see
44:54anything at the end of the year like
44:58so the IM has kind of figured that out
45:00so now they're giving they don't like to
45:01lend governments as much they still do
45:04sometimes but they like to give smaller
45:06loans right but the problem is that's a
45:08lot of
45:10work so that's the
45:14IMF okay now we're gonna get into
45:17international
45:18trade international trade so
45:21international monetary fund the supply
45:23curve for money on International right
45:26has this International trade now who
45:28does the United States trade the most
45:31with people always get this wrong who is
45:35our number one trading partner forever
45:38and ever and ever like for the
45:40last 15 years everybody says well it's
45:44China it's not China oh it's China it
45:49hasn't been now it was recently but
45:52that's just just recently it was Canada
45:54forever and ever and ever
45:57why Canada because Canada's right next
45:59door right think of it think of it this
46:02way we buy Chinese products we do right
46:06so a lot of you
46:09have gone to China and bought products
46:12brought them to the United States
46:14probably not very many but how many
46:17people watching this video have gone to
46:20Canada and bought something I know 19
46:24years old going up to Canada why would a
46:2719-year-old person go up to
46:29Canada beer but we buy their stuff and
46:32they buy our stuff we trade back and
46:34forth with China we pretty much just
46:37bought their stuff right but China did
46:40become number one but that's only been
46:42like the last four or five years before
46:44that it was it had been Canada forever
46:46and I talked to people and people would
46:47always say China's our largest trading
46:49partner at the time I'm like what
46:51actually they're not but then they
46:53became our biggest trading partner but
46:56let's see where it is right now this is
46:59comes from the United States
47:01census right so it's not the Democrats
47:03or Republicans again it's not
47:06political number one is
47:09meico oh number two is
47:13Canada right this is as of July
47:172020 remember it it takes them a while
47:20to calculate these numbers right and
47:22then you have China and Japan those are
47:25our top four theyve always been the top
47:27four this hasn't changed the the
47:29rankings they move move around a little
47:31bit but these four have always been the
47:33top four right uh the the the top four
47:39Mexico Mexico Canada China and
47:43Japan huh well wait how but I see all
47:47these Chinese products you do but you
47:49don't see Canadian products right so you
47:52said maple syrup we got maple syrup well
47:55electricity you the electricity you have
47:57could be coming from the grand
47:58Dam or it might be coming from one of
48:00those nice little dams up in
48:03Canada wow so we trade with why do we
48:07trade with them you don't see their
48:10products because when you look at your
48:11furniture do you say wow this is
48:13Canadian Furniture no you don't no you
48:17don't okay
48:20so the reason we trade so much with
48:23Mexico and Canada deals with physical
48:27barriers to trade how tough is it to
48:32sell something you're here here in
48:34Seattle you want to sell some stuff in
48:36Canada how tough is it well I don't know
48:38if The Border's open or not kind of
48:39depends but normally you just throw in
48:42the back of your pickup truck label it
48:44in French and English right and Away you
48:47go right or you go to Mexico you throw
48:49it in the back write some Spanish stuff
48:51on there and Away you go you're it's
48:53very very easy physical they're close by
48:57so we trade a lot with countries that
48:58are close
48:59by say yeah but what about China and
49:02Japan well they're close by too they're
49:04real close to the United States
49:07same um no they're not Andy yes they are
49:11they're real real
49:13close uh no they're quite a bit in fact
49:17kind of the opposite side of the planet
49:20yeah it's pretty far away but how do we
49:23get products from can from uh China and
49:26Japan
49:29shipping
49:31boats oh okay those big cargo those big
49:34container ships are very efficient once
49:38they get going they don't burn much fuel
49:40they don't cost very much money to get
49:42going because they're carrying so much
49:44stuff in fact shipping by boat is the
49:48cheapest form of
49:51transportation is that a good test
49:55question it is but what about the Choo
49:57Cho trains trains are more efficient
50:00than trucks but nothing compared to the
50:04big ships in fact to take a car from
50:08Japan to
50:11Seattle costs way less than going from
50:14Seattle to St Louis much much much less
50:18yeah yeah so you go to my go to my dad's
50:20place and Holdridge
50:21Nebraska you there's only one Toyota
50:24there i' I've been to Holdridge Nebraska
50:26it's like 4,000 people there one Toyota
50:29that was a pickup truck that I gave my
50:32dad that was it one
50:35truck oh go to Seattle you see lots of
50:38Toyotas and holder Nebraska you see
50:40Fords and
50:43Chevys yeah yeah you've ever been to
50:45Europe Europe's fun how often do you see
50:49Toyotas in Europe well I saw one okay
50:52you saw
50:53one not very many not like we have here
50:56here up in Europe you see
50:59BMWs and
51:01Mercedes and what's that French brand
51:05PUO and you go to Norway you'll see
51:08Teslas oh Tesla's an American car yep it
51:12is that's why Elon is so rich well we'll
51:15talk more about Tesla again later so
51:18physical physical could be barriers to
51:20trade could be uh uh Rivers could be
51:25deserts so in go to China go to Eastern
51:29China and western China and they feel
51:31like different countries because they
51:33don't trade very much with each other
51:35because they had this big high desert in
51:38between them now they start to build
51:40some railroads I've been on that
51:42railroad we'll talk about that later but
51:45it's still it's hard to to get across a
51:48big high desert right same same same
51:51thing how often do we trade with
51:53India like not that much basically only
51:57green technology and call centers we'll
52:00talk about in more some more too so
52:02physical barriers to trade stuff that
52:04gets in the way that's the next barrier
52:07to
52:09trade okay Japan and China trade a lot
52:14they really that in
52:15fact their their leaders get together
52:18regularly and talk about because they
52:19don't want to get in a trade war with
52:20each other because they trade a lot
52:25physical the next next one is
52:29cultural cultural barriers to trade now
52:31a lot of people say ah we're all the
52:33same we're not all the same yeah we're
52:36all the same we all bleed red well yeah
52:39you're right we do all bleed red but
52:41culture makes a huge difference in trade
52:44culture could be
52:46language
52:48religion
52:50style uh all sorts of different things
52:53clothing right culture
52:57say no we're all the same Andy okay
53:00suppose you on a boat with your mother
53:03your spouse and your
53:07child suddenly the boat begins to
53:10sink you determine that you can only
53:12save one of them who do you save so the
53:17boat sinking you GNA save mama you GNA
53:20save your spouse or your
53:23kid I'll tell you the answer to that one
53:26then video
53:28byebye thanks for coming

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