Government, their abuse of monetary policies and reckless spending is the reason of inequality! Government is the single source of inflation that makes money worthless and assets expensive, not the rich people! UK losing millionaires in record numbers, while US gaining. Doesn’t feel like UK people getting any better because of it! Losing rich people only results in losing business, jobs and tax revenue
My issue with this rhetoric is it gives politicians an excuse to tax hard working “high income” workers even more - all while the real rich get wealthier via assets (and very low taxes).
The point is that Thatcher started the ball rolling, and to put it bluntly, those who criticize post WW2 government of Attlee and the nationalisation fail to realise that public transport is a service and that overall the creation of the welfare state and NHS has benefited the working class. As for the argument of no business experience, one only has to look at what the fool Beaching did, and in company with other fools who knew the price of everything and the value of nothing, which continues today. Moreover, those who advocated for privitisation have been proved to be deluded at best, especially as the UK's utilities and now owned by foreign companies who car about share holders not clean water ways or infrastructure that works.
Incredibly true points. I am glad that at least some people mentioning it! That’s a global trend and our generation is not aware of the reasons why they are suffering the problems they have
@@Sirlarrythecat Because, fundamentally (particularly those who espouse it), people don’t really want to be equal - they want equal to happen somehow below them and that is impossible:-)
@@SK-vg3mw Just Bec sue the ultra rich are getting taxed does NOT mean that the lazy are going to be rewarded. I would say by your comment you are a loser as a human being.
You are describing a symptom of the capitalist system. One class works for a living. The other owns for a living. There is no need for this distinction. Workers and democratic institutions shown own the places we work. No capitalists are necessary. Take it from me. I am one.
@michaelrch Maybe, but is it still really capitalism? For capitalism to work money needs to go around, the problem is that becouse of "the changing of the rules during the game" 99% of money is hoarded by a very small part of people. It's kind of like a game of monopoly at the end when one player owns everything and the other just play along till they are broke and the winner keeps lending the money to keep the game going. That is one of the important reasons a high "wealth tax" was created in the first place. Again i am not against capitalism ( i am a small business owner myself), but after the 70's when the goldstandard was dropped in America and fractional reserve banking took It's place, capitalism died with it and what i call "neo capitalism" took over. Now debt creates currency and like i mentioned capitalism does not excist anymore. In western Europe young people cant even afford to buy a house anymore, when this happens you know we have a huge systemic problem. Merry christmas to you and youre loved ones.
@ Nevertheless, if you look the list of richest people, most of them are self made and made their capital during their lifetime. Most of dinosaur industries are being disrupted today by new entrepreneurs
The woman in the second interview (don't know her name) seems to exist in a bubble of middle class insularity, then she purports to generalise this cultic experience to society as a whole. "The bank of mum and dad", the notion that an earlier generation had access to property, the alleged "housing ladder", etc. are class realities, former or current, which neither have, nor ever had, anything to do with the world I live in or have experienced over 79 years.
Love the LINK - THOSE in POLITICS are drastically RICHER and GOVERNMENTS are drastically poorer - What's the LINK lololol - We just have to look across Europe - EVERY government
speaking to 21 minutes in, all privatization is undervalued seems. hallmark of it was how one economist put it. interviewer asked said economist too, a little non plussed how shares always end up in the hands of a small number as well.
I'm going to have to pay a shedload of tax to support my parents' generation. You bet your arse I'm going to choose the country where I pay that tax and it's going to be the one that offers me the best services. Which isn't Britain. Good luck, enjoy!
They both copied Fredrick Hayek, Ludwig Von Mises, Milton Friedman and the Austrian school of economics. Thatcher once went into a shadow cabinet meeting and when asked what the party's economics policy was, she threw down a battered copy of Hayek's (insane) book "The Constitution of Liberty" and said "THAT'S what we believe!"
Until we totally get that government spending is the source of money for the economic well-being of society and we pretend it comes from markets - we will get nowhere. Start your conversation there and you will find your answers.
Your purposely missing the point.Doesn't matter whose in charge if they don't tackle massive income inequality.People have bought into neoliberalism that is solely intended to help those with assets and shares...
You are fortunate that you are not engineers, as you do not grasp the true scale of the challenges. Consider this: if the majority of your infrastructure dates back to 1910, then your knowledge is from that era as well. I believe the financial industry cannot thrive without a genuine industrial foundation.
@@Solsbeary There was ONE and he was lead out on every program against ONE against Brexit. In 2012 this same economist to a government panel that for Brexit to work both manufacturing and Farming must be "let go" like heavy engineering in the 1980's. This was NOT publicised at all during the referendum.
@Solsbeary what's that got to do with brexit? You can have two economists who think brexit was bad. One thinks govt spending should reduce, one the opposite.
Sold out as in, ran for public office instead of sitting in a cushy think tank job telling everyone how they’d sort the world, whilst doing absolutely nothing, to sort the world
@izrite3162 you mean being gifted a safe seat and then defending the actions of a government that goes against everything he once argued for? yes, that is my definition of selling out
Used to like this greek fella but he's been twittering on for years about the fall down of this that and the other and nothing has come true. This ultra left idiology is dead
Because for the grand scheme of things over time the West has progressed left, left politics generally encompasses the values of progression otherwise Hilter would've partnered with the British Empire and today would be a different world. So generally speaking the left is to blame but not because the left is bad but because for a sustainable future it is seen as the better option. What it gets wrong is a result of those in power not listening to how comfortable people are with change and not the action of the progression itself.
Lets get real, people only invest to get a return on their capitol. You can get 11% by just buying the SandP 500 and its very difficult to get that return in business in the UK so nobody invests. Thatchers time in Government was the most successful time for the UK in my 72 years. It was easy to start business and get on, today its been taxed and regulated to destruction.
Was a great time if you were wealthy now remind me please about starting a business what the the level of unemployment during her time in office how many industries did she destroy? I think you might have some very rose tinted glasses on for the everyday average person Thatcher was a total disaster.
@@Sirlarrythecat You have no idea what you are talking about, she set up the economy and it was doing great until 1997 when Labour destroyed it as usual. Sadly its going to happen all over again with the current village idiots
Nationalised railways began in 1948 - under Attlee and socialism. They were a colossal failure from the start, running up massive annual losses. By 1979, they were a national joke,...unreliable diesel locomotives, clapped out rolling stock, dirty carriages, decrepit, grimy railway stations, surly unionised staff often on strike. Nationalised railways were an abysmal failure.
@@SK-vg3mw Excellent comment. Labour people are not business people. Never have been. None today have worked in commerce or industry; held senior or CEO managerial positions; or started up and run their own business. They have already failed on the economy.
@@ByJimineeItsBREXIT-z2k And the amazing business people of 14 years of Tory rule have left the country in better and stronger shape then ever before. No crashing the economy, no buddy business with contracts, no rules are for thee not me.
@@sciencefliestothemoon2305 And all those billions investment then poured in....you get super-sleek, super-fast and reliable trains, modern, carriages, comfortable seats, modern, comfortable stations.....all of it vastly superior to the nationalised hell I suffered during the socialism and anarchy unions of the 1970's....when we were The Sick Man Of Europe and suffered the shameful Winter Of Discontent in 1979 when Labour turned us into an economic basket case..
It’s worse: inequality is destroying people, families and communities.
Government, their abuse of monetary policies and reckless spending is the reason of inequality! Government is the single source of inflation that makes money worthless and assets expensive, not the rich people! UK losing millionaires in record numbers, while US gaining. Doesn’t feel like UK people getting any better because of it! Losing rich people only results in losing business, jobs and tax revenue
There has never been trickle down, its only ever been gushing up..!
Socialism is a bankrupt 19th century ideology, what a tragedy that another European/UK generation has to learn this again. Get a new book.
It exists in the minds of liars, con artists and the gullible.
My issue with this rhetoric is it gives politicians an excuse to tax hard working “high income” workers even more - all while the real rich get wealthier via assets (and very low taxes).
Gary Fuckin' Stevenson.
Fukin' rocks
The point is that Thatcher started the ball rolling, and to put it bluntly, those who criticize post WW2 government of Attlee and the nationalisation fail to realise that public transport is a service and that overall the creation of the welfare state and NHS has benefited the working class.
As for the argument of no business experience, one only has to look at what the fool Beaching did, and in company with other fools who knew the price of everything and the value of nothing, which continues today.
Moreover, those who advocated for privitisation have been proved to be deluded at best, especially as the UK's utilities and now owned by foreign companies who car about share holders not clean water ways or infrastructure that works.
That pretty much sums up the past 60 years of Tory government
Inequality doesn't just destroy the economy it absolutely destroys society
tax wealth or its over
Many people applaud the increase in value of their house whilst complaining that the children can't buy a house
Incredibly true points. I am glad that at least some people mentioning it! That’s a global trend and our generation is not aware of the reasons why they are suffering the problems they have
Torsten Bell, Yanis Varoufakis, Gary Stevenson. The Avengers of economists.
Who have never run a successful economy …..
@@ossianx8752 Good point but have you asked yourself why that is.
We can see what big taxes like 50% of gdp did for UK, France and Germany.
@@Sirlarrythecat humans don’t want to be equal - not even the ones who say they do ….
@@Sirlarrythecat Because, fundamentally (particularly those who espouse it), people don’t really want to be equal - they want equal to happen somehow below them and that is impossible:-)
One of the major problems is passive income, it should be taxed 90% worldwide. Thats one of the only ways things will turn around.
@@The.world.has.gone.crazy... yeah, let’s rob productive and successful people and reward lazy and unproductive losers! 👏👏
@@SK-vg3mw Just Bec sue the ultra rich are getting taxed does NOT mean that the lazy are going to be rewarded. I would say by your comment you are a loser as a human being.
You are describing a symptom of the capitalist system. One class works for a living. The other owns for a living.
There is no need for this distinction.
Workers and democratic institutions shown own the places we work. No capitalists are necessary.
Take it from me. I am one.
@michaelrch Maybe, but is it still really capitalism? For capitalism to work money needs to go around, the problem is that becouse of "the changing of the rules during the game" 99% of money is hoarded by a very small part of people. It's kind of like a game of monopoly at the end when one player owns everything and the other just play along till they are broke and the winner keeps lending the money to keep the game going. That is one of the important reasons a high "wealth tax" was created in the first place. Again i am not against capitalism ( i am a small business owner myself), but after the 70's when the goldstandard was dropped in America and fractional reserve banking took It's place, capitalism died with it and what i call "neo capitalism" took over. Now debt creates currency and like i mentioned capitalism does not excist anymore. In western Europe young people cant even afford to buy a house anymore, when this happens you know we have a huge systemic problem. Merry christmas to you and youre loved ones.
@ Nevertheless, if you look the list of richest people, most of them are self made and made their capital during their lifetime. Most of dinosaur industries are being disrupted today by new entrepreneurs
The woman in the second interview (don't know her name) seems to exist in a bubble of middle class insularity, then she purports to generalise this cultic experience to society as a whole. "The bank of mum and dad", the notion that an earlier generation had access to property, the alleged "housing ladder", etc. are class realities, former or current, which neither have, nor ever had, anything to do with the world I live in or have experienced over 79 years.
Have you ever heard of the concept of an average? Not everything revolves around your sole life experience.
@@schumiisking In what fantasy is what she refers to an average? I used the word "cultic" for good reason.
Love the LINK - THOSE in POLITICS are drastically RICHER and GOVERNMENTS are drastically poorer - What's the LINK lololol - We just have to look across Europe - EVERY government
varoufakis is playing 4D chess compared to the others, although all appreciated
Merry Halloween 🎃
We are poor workers because we can't feed the rich.
Reservoirs. worse than than not building, the companies have filled them in and sold the land for building
speaking to 21 minutes in, all privatization is undervalued seems. hallmark of it was how one economist put it. interviewer asked said economist too, a little non plussed how shares always end up in the hands of a small number as well.
The post war boom is over, the era of full employment long gone and wont return. We are going back to the thirties and back further again.
I'm going to have to pay a shedload of tax to support my parents' generation.
You bet your arse I'm going to choose the country where I pay that tax and it's going to be the one that offers me the best services.
Which isn't Britain.
Good luck, enjoy!
True , also many people currently about age 35 plus will be in line for large inheritances , that’s if the care bill hasn’t take it all
Thatcher merely copied Reagan whom she idolized.
They both copied Fredrick Hayek, Ludwig Von Mises, Milton Friedman and the Austrian school of economics.
Thatcher once went into a shadow cabinet meeting and when asked what the party's economics policy was, she threw down a battered copy of Hayek's (insane) book "The Constitution of Liberty" and said "THAT'S what we believe!"
Until we totally get that government spending is the source of money for the economic well-being of society and we pretend it comes from markets - we will get nowhere.
Start your conversation there and you will find your answers.
Very crisp
why have tens of thousands of people spent decades and decades talking about meaningless twaddle?
Also politicsjoe, vote labour! Tories bad!
Aside from being a fact. What else is new.
@sciencefliestothemoon2305 labour ain't gonna do nothing to address income inequality
Your purposely missing the point.Doesn't matter whose in charge if they don't tackle massive income inequality.People have bought into neoliberalism that is solely intended to help those with assets and shares...
@iannisbet3882 that's exactly my point, what are you talking about?
@@Bert86 and Tories have, and would increase it.
There is at least a semblence of hope with labour.
Most comments here are being wiped. WHY?
Disruption . They don't want people talking about politics outside of the Labour, Conservative paradime.
Internet police
Major broke up BR not Thatcher I am no Thatcher fan but even she realized breaking BR up would cause issues Hence she was unwilling to do it.
BR was privatised based on Thatcher's neoliberal ideology though.
A far cry from MacMillan and "selling off the family silver".
You are fortunate that you are not engineers, as you do not grasp the true scale of the challenges. Consider this: if the majority of your infrastructure dates back to 1910, then your knowledge is from that era as well. I believe the financial industry cannot thrive without a genuine industrial foundation.
Who's who, Joe ? 🙁
12:24 this man completely magically forgot everything he ever believed about inequality after getting drafted into the Red Tory machine...
Aka the economists which have views most closely aligned to us.
find me a economist supportive of Brexit.... I'll wait.
@@Solsbeary There was ONE and he was lead out on every program against ONE against Brexit. In 2012 this same economist to a government panel that for Brexit to work both manufacturing and Farming must be "let go" like heavy engineering in the 1980's. This was NOT publicised at all during the referendum.
@@Solsbeary It's the year 5274, we're still waiting for an answer.
@Solsbeary what's that got to do with brexit? You can have two economists who think brexit was bad. One thinks govt spending should reduce, one the opposite.
I think anytime Torsten Bell appears there should be a disclaimer detailing how he has now completely and utterly sold out
Sold out as in, ran for public office instead of sitting in a cushy think tank job telling everyone how they’d sort the world, whilst doing absolutely nothing, to sort the world
@izrite3162 you mean being gifted a safe seat and then defending the actions of a government that goes against everything he once argued for? yes, that is my definition of selling out
We need inequality to give the masses hope of joining the elite
DEI - Didn’t Earn It ….
Used to like this greek fella but he's been twittering on for years about the fall down of this that and the other and nothing has come true. This ultra left idiology is dead
The Greek fella always blames the left. He may be partly right.
He is on the left.
Because for the grand scheme of things over time the West has progressed left, left politics generally encompasses the values of progression otherwise Hilter would've partnered with the British Empire and today would be a different world. So generally speaking the left is to blame but not because the left is bad but because for a sustainable future it is seen as the better option. What it gets wrong is a result of those in power not listening to how comfortable people are with change and not the action of the progression itself.
He just holds he so called left accountable
@cSTEPHEN855 thats becouse as he argued before, the left is not left anymore.
Lets get real, people only invest to get a return on their capitol. You can get 11% by just buying the SandP 500 and its very difficult to get that return in business in the UK so nobody invests. Thatchers time in Government was the most successful time for the UK in my 72 years. It was easy to start business and get on, today its been taxed and regulated to destruction.
Was a great time if you were wealthy now remind me please about starting a business what the the level of unemployment during her time in office how many industries did she destroy? I think you might have some very rose tinted glasses on for the everyday average person Thatcher was a total disaster.
@@Sirlarrythecat You have no idea what you are talking about, she set up the economy and it was doing great until 1997 when Labour destroyed it as usual. Sadly its going to happen all over again with the current village idiots
Hope your podcast goes under.
Nationalised railways began in 1948 - under Attlee and socialism.
They were a colossal failure from the start, running up massive annual losses.
By 1979, they were a national joke,...unreliable diesel locomotives, clapped out rolling stock, dirty carriages,
decrepit, grimy railway stations, surly unionised staff often on strike. Nationalised railways were an abysmal failure.
That’s what happens when you give business to run to someone who is not a businessman. You can’t turn bureaucrats into entrepreneurs.
@@SK-vg3mw Excellent comment. Labour people are not business people. Never have been. None today have worked in commerce or industry; held senior or CEO managerial positions; or started up and run their own business.
They have already failed on the economy.
Ah yes, the privatised railways of the UK are the wet dream of every other country. Ahh wait....
@@ByJimineeItsBREXIT-z2k And the amazing business people of 14 years of Tory rule have left the country in better and stronger shape then ever before.
No crashing the economy, no buddy business with contracts, no rules are for thee not me.
@@sciencefliestothemoon2305 And all those billions investment then poured in....you get super-sleek, super-fast and reliable trains, modern, carriages, comfortable seats, modern, comfortable stations.....all of it vastly superior to the nationalised hell I suffered during the socialism and anarchy unions of the 1970's....when we were The Sick Man Of Europe and suffered the shameful Winter Of Discontent in 1979 when Labour turned us into an economic basket case..