Відео

If you are releasing the video after the event how do we know when it was made?

Another excellent video. Every ordinary person needs to know what you've explained. This is going to sound depressing but I don't think we can change things. The super rich are too rich and powerful and they're the ones who are really in charge, not the government. Not even if Labour win the next election. The media which is owned by the rich and powerful will completely trash Labour and make sure they aren't re-elected if they try and tax wealth. So Labour will go after the easy pickings, the moderately well off ordinary person while the real rich people get let off to keep and grow their wealth. The future looks very bleak for our children.

I believe you are on the left, I am on the right. I would not agree 100% with your analysis, however I agree with the implied point. One of the failings of the right is that we don't call out inequality the way we should. We believe in markets and competition, yet what you describe is a lack of competition, causing the rich to accumulate wealth via monopolistic rent seeking - this is NOT capitalism - its crony corporatism. Once you become rich, which should be hard, it should be even harder to keep it or at least, most of it. The fact this is not happening is due to a number of things - 1. Low interest rates, 2. Money printing, 3. Unequal access to lending 4. Captured political parties on both sides of the isle and 5. Captured regulators. All of this favors the super rich, none of it favors the less well of. Too many times, people on the "right" defend companies like Microsoft, MacQuarrie Bank, BlackRock, Goldman Sachs, Serco, Capita etc. as doing "capitalism" when in fact they are seeking monopolies - and corrupting politics and regulators to do it. MacQuarrie bank for example piled a load of debt onto Thames Water that it bought, paid out a massive dividend, then saddled the interest bill on the water rates payers. This is NOT capitalism - this is a refinance deal of a monopoly utility to fleece rates payers - the government is supposed to regulate these situations to prevent abuse - some of these companies also had a "golden share" to prevent these types of abuse - yet its all gone now - OFWAT is a joke. On workers wages - they should be going up as the economy gets more productive - that fuels consumption and grows businesses and the economy. All the right actually asks for is that any wages paid have a reasonable relationship to the productivity needed to pay for them - as long as that rule is met (and these days it is) then this is GOOD for the economy. Again, too many on the right don't understand this point - and are too quick to "talk down unions" when if fact the issues around unions was using union power to bring down the government - a different issue back in the day. If you are rich, the way it SHOULD work is that once you become rich, you have to risk your money again in INVESTMENT to sustain your wealth. If you can't or won't do that, then you lose it. That is the ACTUAL societal bargain. The elites are SCAMMING it.

Tax wealth, not hard work. Older generations have the cheek to call younger generations lazy. High productivity areas like London didn’t take up like 60% of your wages just to live there back in 1970.

But this is policies had made Latin America poorer, taxation is so link with corruption, specially with politicians is this also happens across the world.

60% of people think falling inflation means falling prices. It's not only media that are to blame.

CPI by itself is not that meaningful, we need to look at the delta between CPIH and wage growth.

Everyday is a school day. Thank you, Gary.

The part about the international nature of these problems is on point. I live in Canada where everyone is blaming the government policies for the housing crisis because the government ‘spends too much money’. I always point to the UK and say “they’ve had over a decade of ‘fiscal responsibility’ governments and they’re in the same boat as we are.” If you think this problem is caused by the government then you’re never going to solve it. This is a problem with the system. If you don’t fix the system, nothing will change. It doesn’t matter which government is in charge.

Money is like a gear box between wants and goods and services. Money is not finite but goods and services are. Hence inflation.

The money printing was the response to a common cold. The deliberate theft of the value of the existing money supply. I.E. your money.

Doesn't it have alot to do with the fact that the USD is the world reserve currency and most countries are required to trade in USD, for example, Oil (petrodollar). And also that most countries hold Pre funded nostro/Vostro accounts for USD. Also bearing in mind that 80% of all the USD in existence EVER were printed in the last 3 years?

The solution for many is we need the government to fix this. But it was the government caused all this in the first place.

Tax wealth, tax it until the country works… No handouts. We’re not here for people not to work. But when teachers and nurses are using food banks, the trains don’t work and there is 💩 in the rivers, then the country is broken. Tax them until… - the trains run on time - kids can get a meal in school - the teachers are supposed - the nurses are respected - our water is clean - people can get to work - have a dream of buying a home - you can see a GP or get a surgery I’m probably missing a load of basic British rights that we used to expect 15 years ago. But you get my point.

Hey Gary, could you please do a video on your view of unions? I am very interested in hearing your perspective in the power of labour to re-balance inequality. Thanks!

In this case, Sunak inhabits the role of the shaman. Knows high pressure, hot and humid weather can indicate a storm and then "summons" a storm. The layperson now thinks this is the power of the shaman.

Wow, it's so simple my 12 yo could understand it, thanks for the lesson! Knowledge is ammunition against spin.

The healthiest way forr money to work is to make it circulate non stop.. Government looks at money as a cyclic item..and not as an absolute item.. They need to get tax to circulate it back to the people to make things run..

Name ONE country in the world that is taxing the rich considerably more than UK, and with success. That’s right, does not exist.

Gary is honest and explains economics in a simple yet intelligent manner, unlike the mainstream media.

another effect of that is plummeting birth rates as it became very expensive to raise and educate kids, you simply have to grind week by week to put them through schools and universities.

Its a factor though

What are your thoughts on Bitcoin as a means of finance?

I always learn something - thanks Gary 🙂

Great insight, Gary, thanks. But is not that 'inflation' is just a short term for 'inflation of the money supply', and hence it's the continual inflating of the money supply that causes prices to go up? Example, if total money in circulation hadn't increased since when normal wages for the majority of workers were around ten pounds a week (£500 a year), house prices can't get to £500,000 for a normal family house because that kind of money just wasn't there in circulation (and it never would be if the money in circulation didn't increase). So as no-one had a thousand years of wages to buy that house, and the fact that it didn't cost a thousand years of wages to build, the price was lower, much lower! The banks also didn't have that money then to lend out, for the same reason, it didn't yet exist. Inflation of the money supply = Prices going up. And the people printing all the money into circulation will know this, just they know how to ensure that a greater proportion of the new money ends up in their back pockets ....and then, to your point, the inequality problem worsens.

Hi Gary - thanks for your content, I think it is great and I can relate a lot to you. Understand wealth of £1-5m, say, is not the target. But, what is your proposal for taxing paper wealth of the £100m+ "ers"? Do governments give rebates when share prices swing the other way? It might be in your book, which I will get to once I finish what I am currently reading.

This is a data issue, when you only look at 12 months you are only seeing a photograph of a movie. Data can't be relied upon in such short time frames in order to make meaningful insights you need to film constantly and only then will you start getting the truth. If I gave you a photo of a movie which you hadn't watched would you be able to tell me how the movie ends?

When you talk of rising inequality the reality is that 1/8 of the world's population enjoys a first world lifestyle. The other 7/8s live on a fraction of that maybe 3-5%. So in a world of instant communication and cheap mass transport it is impossible to maintain first world living standards. Your explanation is that the rich are taking the money. The reality is it is the very poor in the developing world that are taking the money but because they are so poor and so many of them it takes a lot of money for this to trickle through. The reality is a manual worker in the UK on $1,000 a week cannot compete with a Chinese worker on $30 a week, hence the loss of manufacturing jobs and the rise of minimum wages as the manual worker in the UK has no bargaining power. In effect the problem is much worse, if only the rich was taking the money you could redistribute it back. The fact that its seeping out to the third world thats a bigger problem.

Thanks mate.

Thnaks Gary. Excellent.

Dear Gary, you should address the money printing issue! Without discussion the balance sheet of the BoE, ECB and FED all this analysis come short...

Do you expect inflation to stay down? Or as interest rates fall will that drive spike in demand, with supply shortage causing inflation again?

Just a quick huge thank you, Gary.

conflating Bitcoin and crypto is the first sign of someone that does not understand the space. Anyone who bought Bitcoin at the itme of the video is now more than 100% up, and has far outstripped inflation in that time. Feel free to reach out to me for any questions on this topic. Nothing to sell, just free education.

If your supposed to be wealthy you will be If you don’t earn it,,you’ll only burn it 🇬🇧😒

Taxing the rich seem a bit naive as it fails to take into account real world experience. How do you prevent the rich from simply leaving the country taking their wealth with them? Capitol controls, exit tax, good luck enforcing them especially when the politicians fail to close these loopholes as they themselves are just as much a beneficiary.

Will this 'fall' in infaltion help lower interest rates on mortgages?

So the message is that the WEF will continue to control international finance for the foreseeable future.

They delayed the civil service pay rise, no doubt to ensure the rise is in line with the lower inflation figures.

The headlines are already coming in 😅

Mass deflation will happen if we have a reasonable growing season

They keep saying productivity is low 🤔

One thing I think this man has got wrong is that everyone is getting poorer but the rich are getting poorer relatively slowly. The reality is that only 1/8 of the world lives a first world life. The other 7/8s live on about 3% of the first world. This makes their labour cheap and competitive. As the first world attempts to maintain living standards government is borrowing more money effectively printing it and causing inflation. The inflation drops the living standards of the poor but makes the rich appear richer as their assets reprice.

End phrase “Let’s tax the rich, let’s get wealth in the hand of working people” sounded like socialism 🗿

It's far easier to tax the poor; considerably more difficult to tax the rich...especially when the wealth of the rich is predicated on "facilitative legislative policy" - i.e. government policy helps businesses get rich then ministers have a vested interest in keeping them rich. Single fathers are the easiest to tax. It's brutal. Right now Government homeless policy for single parents displaces the other parent. If you are a single mother you can buy a lifetime tenancy: all you have to do is become homeless (an outcome legislative policy seems to be encouraging) and then never agree that your ex partner is an equal parent. It's the easiest job description in the world: stop working, become homeless and blame your ex for failing to provide for the children. That way government debt provides for the children and the social housing sector (the portion that is given as bedroom entitlements) becomes a furlough scheme for single mothers who have a vested interest in taking children from their fathers because they get a passive income stream called maintenance. The government are taking children off fathers in the same way they took them off unmarried mothers up to the 80s.

The biggest issue with this approach is that people would bring an emotional bias into the equation.

Gary for PM

Its very simple. Companies do not understand that wages need to rise with inflation. Especially low wages. Unfortunatly they havent. In 2007 i was paid 17,200 for entry level job. Adjusted for inflation, thats 33,000. They pay 24,000 for entry level. Companies have made profits off the back of working people. Now imagine the tax revenue that could be generated off this extra pay. Doctors nurses, teachers , roads, etc. Its a spiral we are in and to stop it everyone needs to come together and say enough.

Classic champagne socialist right there. Also, it’s easy to cast criticism. Try doing something instead.

Sunak openly laughs is people's faces... a corrupt b...h