How is wealth created? Saving and investing is the key to personal wealth as well as the economic growth.
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Econ Clips is an economic blog. Our objetive is teaching economics through easy to watch animated films. We talk about variety of subjects such as economy, finance, money, investing, monetary systems, financial markets, financial institutions, cental banks and so on. With us You can learn how to acquire wealth and make good financial decisions. How to be better at managing your personal finance. How to avoid a Ponzi Scheme and other financial frauds or fall into a credit trap. If You want to know how the economy really works, how to understand and protect yourself from inflation or economic collapse - join us on econclips.com. Learn Austrian Economics in a fun way!
This is glorious, I have been researching "chat line" for a while now, and I think this has helped. You ever tried - Venevelyn Attractorgram Platform - (do a google search ) ? Ive heard some unbelievable things about it and my cousin got amazing success with it.
I watch this video a few times each month.Even though the way to wealth isnt as straight forward as alluded,The principles are very sound and true...”Wealth is created through self sacrifice and taking risks”...
Very good video. One note...
The first spear has a massive value because of the risk to the maker. Once he has made the first spear and built up a bit of stock of food the spear could be replaced with much less risk so it's value is vastly reduced. This is the first stage of 'commoditisation' of spears. Also after making the first spear producing more spears will be easier and faster because the maker has experience of spear making. This is the second stage of 'commoditisation'. A video on how things go from new invention to commodity status would be really interesting.
you have to sacrifice so much to save money when you are already earning very little, your wife, kids everyone will think you are a looser, but in end of day you make all payments for all the things and run the family in the right way.
It is quite difficult to start any business these days, but some businesses give money for little effort. Always keep your eyes open and always explore.
If my salary was a 10 000 $ one .... I would be making videos on Youtube telling people how to fish .... just like all the videos I watched .... invest your money .... I will invest my 5 dollars ... Please stop depressing us !
anyone can imagine if the fisherman was married? the wife was just constantly nagging him... stop to waste your time with that stick.... go to get a job I need more shoes, clothes, crab meat and weekend to miami...
The thing is that this assuming that wealth only comes in the form of possessions and money generating assests. Yeah, Pete seems wasteful, but he is gaining a wealth of experiences. If there is a war and both of them die in an invasion, then all the saving Tom did, what did it get him? Pete got a wealth of experience. You gain wealth by spending on your experience too. If your saving is limiting your experience it is worthless because you age and your ability to enjoy your experience can decline with age. I saved in my mid to late 20s, to be able to buy a home at 30, and I am not always sure that I made the best decision because I think about the fact that I lived at home with my parents in my 20s to accomplish this goal and it severly limited my dating experience in my 20s. It is cool to have a home now, but the amount of work that it took to furnish the home and fix it up, it has caused me to have debt that I wouldn't have had if I would have moved out and got my own rental apartment in my 20s. It would have cost me $500 extra, which I could have afforded per month, but my experience of my late 20s would have been better and I probably could have found a wife and we spend our savings to buy a home togther, which would have left me with more money at the end of the day to invest in business, etc. If I would have spent a little bit more to have a wealth of experience rather than trying to take a conservative and safe approach, I think I would have had more cumulative happiness than I have now. I don't think I made a bad decision and I am not unhappy by any means, I just realized that the true wealth you have in life is in what you are able to experience at the most reasonable cost to you, not how much you can accumulate. More accumulation does not equal better experience. You are truly wealthy when the price you have to pay for a high quality experience is at the most minimal cost to you possible in terms of time, energy and resources.
There is a huge piece missing from the parable. Land and rent. The story presupposes that there was an island available, with fish in the sea. If the island was already owned by someone, the castaway would have no option but to pay rent to the owner, or work for whatever wage the owner would offer.
Great job. But you should have emphasised the underlying reason that the fishermen was able to succeed.
He was very intelligent.
He was probable in the upper 1% of intelligence of the people on the island.
Certainly an informative explanation to me. What I missed in this story was the possible lower or even total loss of profits of Tom's investments in his shop, restaurant and real estate because of the recession.
And cleaning lady? Could be a cleaning man as well.
A made up fantasy that has no basis in reality. It tries to make the owner of capital look like a self sacrificing risk taker when in reality it's simply very easy for someone with money to make more money. The rich are usually rich because they were born rich. Yes there are some exceptions but if you look at statistics upward mobility is very low. So not "self sacrifice and risk taking" it's more about how rich your parents were.
Wealth is created by families, no families, no wealth. Children are the wealth. A man is wealthy if he can sleep when tired and eat when hungry. All a human being needs is water, food, sleep, friends, and mind control. Those without mind control suffer. Wealth is not measured in dollars, legally counterfeited debt notes. Wealth is measured in hours. Buddhist monks are happy with nothing. Many millionaires commit suicide but not too many. Most rich people buy happiness or get peace from lots of security. Still, balance the lust for money, which is now legally counterfeited currency, with mind control. Live frugally and happily if rich or poor. It's just common sense. PS, I am a millionaire and a cancer survivor.
10k a month. Hah, as if that was a normal pay. But the morons, err, I mean, experts here protest that it is about the lesson and “who cares about facts?!?! Just learn the lesson, maaaaan”. As if those same facts had no bearing on the lesson to be taught. Well ok, let me try my hand at this too, and show you how anybody flying with airlines is “financially uncouth”:
Let me tell you the parable of Flying Steve. Many people sometimes need to travel these days. Well, Flying Steve also needed to travel, but, unlike you, he was wise enough not to spend money on flights or train rides, or costly fuel. You know why? Because Flying Steve simply goes to the tallest building and jumps off from there, flapping his arms wildly and flying to his destination. Like this, Flying Steve could not only travel all over the world, but he did so for free!
I hope you learn the lesson from this utterly ridiculous parable I just told you. And remember folks: real-life facts don’t matter when providing illustrative examples. It’s the thought that counts, apparently.
p.s. he obviously used the 10k figure because he knew quite well his little example would not hold water with any real-life figures. In fact, his little story shows precisely the opposite: that without inherited wealth, most people, not all, but the vast majority, have absolutely no chance of creating enough levels of wealth. And that is because, as any economist, nay, any bloody living being with a modicum of intelligence knows, there are thresholds one simply cannot go beyond to attain decent shelter and a decent living, so no amount of thrifty financial plans can save the vast majority of people who earn the average pay in a financial environment where wages are stagnant and everything else magically keeps increasing in prices (i.e. where the money does not trickle down to the producers, but is kept by the owners.)
Surplus value is stolen from the workers and renamed profit. That, and centuries of rape and pillage by colonialist powers allowed the bourgeoisie to consolidate their stolen wealth. Exploitation is at the root of all stolen wealth. Workers of the world unite! You've nothing to lose but your chains.
There’s a great book called “How An Economy Grows & Why It Crashes” by Peter D. Schiff and Andrew J. Schiff which this video is created based on.
I highway recommend you to review it especially with your kids. There is no escape from the impact of various economic factors, which spontaneously makes you aware of the tricky environment we live in. All these issues, makes you grow and explore your inner potential.
this video ignores the tax effect on people's income, if you make 10k a month, after income tax, social security tax, medicare tax, state disability tax, state income tax, you will only receive 40 - 50% of the 10k if you are a wage (w2) employee. 10k pre-tax income a month only gives you approx 5k disposable income.
The only way to increase your disposable income is not to become an employee to earn a wage, that is why it is called earned income. You should start A business and receive the income and then deduct expenses to reduce the taxes in an overall-level (ie, tax benefit of : social security 6.2% x medicare 1.45% x 2 = 15.3% on the expenses that you deduct, lowering your income tax bracket), that is one of the advantage of being an independent contractor (a 1099-contractor gets a higher pre-tax pay than a W2 employee), if your company offers the option, you should take advantage of that by creating a S-corp (see Internal Revenue Code) to receive the income.
Another method is to increase your passive income, such as: investing in retirement, mutual funds, or buying real estate properties to rent out (ie forming a partnership with friends and buy a property and rent it out if you cant afford to buy it on yourself, and deduct all the expenses in the business level) , plenty of ways to become rich, all you need to know is either: INCREASE your disposable income or Reduce your expenses to maximize your net income, saving money does not make you rich, use your money wisely..and beat the inflation
you guys should learn the basic economics, search videos by Jacob Clifford in Youtube, learn how to reduce debt by Dave Ramsy, and learn how to invest buy investing in your personal education
My dads greatest advice ever: Never ever take a loan. When I was 24 the bank issued me a credit card without me even asking, I didn't need it and thought of it as a cool gig that I wouldn't use, my dad kept on me until I returned it to the bank. I'm 32 now, married, two kids, no debt what so ever, never had actually. I'm very thankful.
What the great multitudes may fail to realize is that a man on a tropical island diving into a lagoon a dozen times a day to catch one fish, and perhaps rubbing sticks together to start a fire for cooking, is in paradise. Everything you think of as civilization might just be the destruction of his natural, blissful state. Greed is not the same as sophistication. Worse, all your vid states is that it’s smarter to save than to spend. There is some truth to this, but governments today take great pains to incentivize spending and punish saving.
All wrong. Where do I even begin. Paradise until you catch a disease cause you scraped yourself on a rock. Paradise until it rains or snows. Paradise until you starve. Civilization is the way we make nature more comfortable for ourselves, and if you don't like it throw the computer and phone away so you can stop making stupid comments, and go live in a dirt hole under a hut. There's your "paradise." What you are referring to greed here, is actually savings and wise investment. In all situations its good to save rather than spend. Spending means you give someone else a payday, saving means you have past paydays saved up for the future. Perhaps even to invest. Lastly, governments might take pains, but that doesn't mean people wont save. Here in the states they make it super easy to save. Anyone can own an account. I have yet to see proof of your extraordinary claim, that they take "pains." annnnd checkmate dweeb.
Actually, you could sell to teachers a license to use your copyrighted teaching materials AND get 7% of their monthly revenues every month. That way, your licensed teachers will make money, you make money (initial licensing fees, plus monthly royalties, plus yearly licensing fees in the future).
That's stupid. As long as people exist, there will be people who desire to live better than others, and among them there will be some who actively effort to achieve those dreams of wealth. Thus there will be rich people. The fact that rich people exist is good; almost nobody wants to live alone, so even the wealthiest will find poorer life companions: wives, children etc. Thus wealth is unavoidably split, thus benefitting everyone in the long run. In summary: rich people are not bad, they are the reason we can live better as a whole.
Nice Story, thanks. This was the old and logical way. Today Machines do the Produvity of 10000 Humans or more per Factory. 1 Human can't in no way outperfom that, except for Network-Effect Scenarios and if he would have money to buy those machines or run digital machines.. or huge companys.
Those Authors, with their Family Name Schiff are huge billionaeres, even if they aren't private, their business are huge, because they are banksters.. like rothschild.
Maybe research their story and get a glimbse why they acutually can write a book about a topic on economy ups and downs... they profit from that for sure!
Those are one of those Family who steal trought the Economy...
Here's 2500 words on wealth: Thought I'd count 'em!?
Actual "wealth" is created by living an honorable life, practicing the universal principle of non- aggression, yet insisting on the freedom to pursue the path that is one's soul's mission-school Ying/Yang integration of for getting and re-membering, for most with a mate who met eyes and the bond began again. Fearlessly and knowing that this gift of life and love and abundance through focused minds and open hearts conspiring with knowing that they travel forever together and the Avatar in glorious, beautiful, Earth, again as the wife - bears forth a body from her womb for an agreed soul to inhabit, so many agreed upon through the ages, no need for canals anew, We're all any one seed implicit, in a web of forever, crew tired of the cries while swimming in lies from the sage and the strife and the severed connection to yesterdays innumerable sighs before this damnation maze and the now and infinite future timelines that all converge into the singular place where all has happened and I am my own Father Mother Son Daughter and the slave-role on this stage is over in space-time yet the psychopath's soul is in a net of strong delusion while We the People awaken to Golden Age promise in flimsy-chains and fake money in confusion examined to decision to knowledge taken that to be or not to be free between the dark and the light the wrong and the right both day and night requires a line that surpasses time's insight drawn
in classes began at dawn's howl from the thrashing Pisces96 when the event had been delayed and justice came in love and karmic duty and a peace came upon the land with the entire population ungoverned by currency or gold unable to hide inside any thought or desire as connective gifts were reestablished and instant manifestation began again when the sun flashed and the frequencies jumped an octave and it felt like time had passed when you find the self observing the self understanding the no-self smiling into the mirror of empty fullness..
Of an anatomically-correct, obedient sex-robot with realistic 5-G gestures, eye and eyelid responses, award-winning vocalization and mouth and tongue and easily replaceable lip configurations and personality profiles/accents/ attitude adjustment cards easily replaced and customization. That would be bad. But "Expensive" A person would have to be relatively "wealthy"
Or, you could profit from humanity's suffering, creating the conditions for mass-murder, and profit from each side of the insanity and when the people were exhausted, enslave them with debt, and poisoned environment of sight sound smell hear and touch and eat their suffering and pain and fear and grow strong and rape and sacrifice babies at rituals bathed in sex and fear, and finance the trafficking of slaves for every bloody perversion including genocide for aeons, using Babylonian Money Magic and the illusion of debt.
And wake-up one morning when every man on the planet knows the magnitude of your sins, how much you have tortured their brothers, and how much you owe to balance the scales of justice for breaking the contract for man's time to rise so enjoy your funny-money but pack it because it's past time and you know it, you can't stay here. We're back in the light, the photonic belt. You are no longer in The Game. Laws are not broken without forfeit.
OKAY Everybody! We won! Time to lights some fires and swap wives and sing and dance.
Bzzzzt. Wealth is measured in the color of the geometric vibrating pusating colorful timeline snaking vibrating dancing in rhythm and harmony behind you when you turn your eye
Life is your song without beginning or end.
Sure wouldn't want to be a member of the Rothschild clan, or the Meruvingian. Or sitting on the Throne of St. Peter. They lay claim to nearly all land and peoples in the West. The Khazar too.
Justice is coming, The Storm nearly arrived. Dragging hell at the tail of the dragon. Re-writing the Play pays consequences and I get the truth.
kapsz 3,5 milliárd vissza nem téritendő vekop támogatást, még hozzá 500 milliót az MTA-tól, 1 milliárdos készüléket a minisztériumtól és OEP finaszírozást 10 ezer vizsgálatra, és mindent a saját céged számláz.... nagy így!
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