Gary nails it-this rentier economy has turned ownership and hard work into relics of the past. Like Yanis Varoufakis points out, this isn’t capitalism in its original sense; it’s a parasitic system designed to extract wealth rather than create it. The middle class is being squeezed, not because they’re lazy, but because the rules of the game have changed. We’re forced to rent everything-homes, jobs, even our futures-while the owner class rakes in profits from systems they didn’t build, exploiting our labor and resources. And then they preach about ‘hard work,’ as if it means anything in a rigged game. This isn’t progress-it’s neo-feudalism, and it’s dismantling the social contract piece by piece.
Even feudal lords cared about their subjects to varying degrees. They didn’t all outright seek their destruction and humiliation. This absolutely is not the case now. You’re right that it’s not capitalism anymore. I would just call it internationalism. See the numerous videos of upper classes leaving their respective homes to go aboard. The depths of their disdain knows no bounds.
Hi Gary. I’m 17. Doing A-levels in History, Maths and Economics at a grammar school. I’ve been watching your channel for a couple of years now. My economics teacher showed some of your content to the class at the start of the year and relayed your messages. He told us that we’d all struggle to buy houses in the future. I’ve had some conversations with fellow students about economics and politics. The overwhelming majority don’t know or care about wealth inequality. Immigration is the main talking point - everyone seems to ‘know’ a lot about that. I picked up a copy of your book over Christmas with some book tokens I won and have nearly finished it now. It’s fascinating and really crystallises the points made in your videos. Thank you for the videos and know that your messages are spreading!
You’re at a grammar school pal, lot of the students will come from money and have right leaning well to do parents. They will have money to support their kids getting on the housing ladder and connections to get good jobs. They might even inherit from grandparents. You got to get friends outside that bubble.
Tariffs will increase costs of finished goods and components used throughout US manufacturing. This will be an immediate and huge hike in inflation. To fight inflation the Fed will have to hike interest rates which will be wonderful for the billionaires but possibly take away the middle class. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. So how exactly can we guard against the coming financial reset Like what are really the best strategies to make our portfolio recession proof against the incoming financial reset? I'm very worried about my $310k stock portfolio.
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Henry you get the “keep calm and carry on” mugs in the U.K. People are so easily fooled it’s no wonder governments and corporations are stepping all over us. Strange thing is we could end it all in a week if we act together but we continue to get fooled and divided in almost every aspect of life.
The overriding attitude from boomsters in the West for decades has been, everything will eventually turn out alright for you as it did for us... avacado on toast, something, something.... they got this really wrong of course, and at the same time don't really care as long as their asset prices remain high.
A historian argues that inequality only resets after 4 things: extended war, plague, state collapse, and revolutions. And technology has weakened the impact of all of those except war. The book is The Great Leveler by Walter Scheidel
@@LowestofheDead Wonder how many resets we have had already and history re-written? You would not know if the Napoleonic wars was a reset. We are simply controlled and there will always be inequality 😞You can only educate yourself and try to educate your family and try to hold onto that generational wealth, understanding that everyone wants what you have and the Government wants it more , and is not your friend 😞 All wars are Bankers wars , and you probably will own nothing and you wont be happy 😞
Sure it's a problem but it can't be the 'root cause' right. It is, in itself, a symptom of other things like tax, employment rights, education, etc etc...
@gikigill788 incorrect. The wealthy and the mangerial class scratch each other's backs. It's called the managerial state as defined by James Burnham and Samuel Francis.
To many 'poor' people delude themselves that they're just a pay rise away from being rich. It's that delusion that has them voting for Farage thinking he's 'on of them' and is looking out for them.
Have you tried joining a game of Monopoly half way through? Even though you play by the same rules than the others, it is near impossible to succeed once they have bought all the assets and you pay rents everywhere. Well, it's the same in real life guys...
Great analogy! A 21 year old couple working full time on min wage get £50k gross. With a 4.5x mortgage and 10% deposit they can bid on the average UK house and jump first rung in most of UK. So you can jump in halfway with a monopoly game with the minimum of wages. You need to just spend 3 years building a deposit rather than 3 years at Uni building a massive debt and then expect to be able to buy property past the Free Parking Square right away (ie London).
@@mat-ur6qbNobody is leaving university expecting to be able to buy an expensive house immediately. You’ve created a scenario that doesn’t exist to suit your agenda
A further point on the theme: I've seen grown adults at each other's throats over a game of Monopoly, and what's always fascinated me is they always get angry at their opponents and not the game itself - a game which is designed to be inherently unfair
Even though things might seem dark, it's uplifting to know that we've got people like you who are out here trying to do things better and educating the people. The comments are also a testament to the fact that there's people out there who want change. Btw, it's super cool to see how to subscriber count has gone up so massively. My prediction for the coming years.. More people will listen to Garys economics.
Needs to be millions of people and they / WE need to be engaged in action that comes out of the engagement - that is non violent, direct action that generates popular consent and attracts more and more people as it takes place
@@shadowofmyfutureselfI’ve been trying to setup a housing association that stops being being exploited for rent but normal people don’t want to invest and would bitch about the issues than doing anything
What is he actually saying though. To me it just sounds like he is saying there is inequality. That the rich get richer and everyone else gets poorer. This is not front page headline stuff. What he never does is provide what he thinks are the solution. I assume he does not do that because what he wants is actually quite radical and he isn't entirely sure it would work. I would value his honestly on this issue as he clearly knows what he is talking about. I just wish he'd have to conviction to present his thesis on the solution instead of just constantly pointing out some people are rich and others are poor.
I’m 38, I’m dyslexic,I don’t read, I failed at school but you make things clear and understandable for the standard chap. I brought your book just to show support (hard back) wasn’t expecting to read it. I read it cover to cover, great narrative and reads like a novel. Keep pushing buddy, you are a huge inspiration. I do art on the side and will try when I get chance to incorporate inequality into my work and send some people your way.
I was the Citibank (Auckland) FX forwards (overnight -1 year swaps) trainee >>> trader 1993 - 1996. Your book floored me but didn't surprise me. Well done for writing it. Not sure if people can really understand the trading room/treasury/corporate banking environment until they've been there. But I guess that's the same for everything, innit?
@@JoolsUK im sure you have some sarcasm here. Current nz median income is 17x below the average house price. Banks only allow loans 6x your wage now. Could be worse i guess?
@airstry2828 I lived in Oz 3 years and saw those astronomical city house prices. But on the city fringes new builds were still achievable at about 4x two wages is that not the case in NZ? There are still places in UK to obtain houses outside of London here, just pretty tricky for young couples but is achievable.
@@mapper7310 I'm An Aussie and that is the point I keep trying to tell people. These issues are WORLDWIDE. I'm an engineer and my interest in economics came from a small project I did in 2016 into Australia's energy sector. Its way worse than ANYTHING the Australian people understand. When I look about the world for similar information I get the same story again and again *and its all the fault of economists.* I even heard the other day companies are leaving NZ because of energy costs. It took me a couple of year s to get an understanding of the cause and its 2 things. FIRST - economists think the rest of the human race are a problem they have to manage. SECOND - economists don't understand how economies actually function at the nuts & bolts level. They know how markets function because that's WHAT they are trained in. What they don't get is that market solutions don't work for certain basic requirements. They don't get that every business and household needs things like energy and water AND if you screw those things up then everything suffers additional costs. That's why their market solutions don't work for education, health care, infrastructure in general and PARTICULARLY ENERGY. They don't understand how that stuff functions and supports society. I watch people like Gary because it helps me understand how mainstream economists think and operate. His video on "Why are economists always wrong?" is something EVERYONE should watch because it explains so much. He's not perfect but the value of his information is staggeringly high.
As an Aussie watching this, it’s strange just how much this rings true for our own economy. Love the work you’re doing Gary and wish you all the best in getting this message out there. Hopefully it becomes a movement that all developed countries get behind because its certainly a troubling thematic!
Fellow Aussie here. Rupert Murdoch and a hundred bot-generators are really ramping up the race baiting... must be an election coming. Half of using Gary's insights is the economics. But at least half is casting aside the moral panic/culture war bull$#1t that flows through social media like a flood tide.
@@BunnyRabit-yo3lx Do you think corporate taxes are effective? They disproportionately affect small businesses, are largely bypassed by large corporations through corporate structuring and any incurred tax is mostly externalised onto the consumer
@ Well then, in the light of solving growing global inequality, I look forward to having everything you think of as yours taxed away from you, and given to any of the billions of people around the world who have less. This inequality must be stopped.
I watched your video on how economy is taught in universities nowadays, but you can not tell me with straight face that people in governments across the world don't know what the problem is, maybe some goverments and some people don't understand, but I am betting majority of them just don't want to change things for better since they are among those rich people.
@lazarstanojevic7841 so blimming true - seems global elites are dominated by adherents of Machiavelli 's teachings that history shows the only political virtue is action and as one can never ensure 'the people' will love you - furthermore given sufficient leisure and means to do so will use them to unseat you - the most effective way of staying in control is to make people fear you. And what do we see - encouragement of mass migration of unskilled, cheaper and more malkeable labour into advanced economies that are content to let their own existing 'left behinds' to stew in their own stagnating juices, the impoverishment and decline of the middle classes, and to top this up with every manner of legalised self-enrichmenf by the self-regulating, asset-stripping elites operating within national economies. Apparently the proud boast these days is not to be the victims but the creators of history.
Of course it is, it’s easy to be blind to something when there is an incentive not to see it, this is why it’s foolish to pigeon hole all reform supporters or MAGA people as stupid and racist, subconsciously they know there is something deeply wrong with our politics, they’ve just been led astray by the rich and powerful as to what is the cause, we’ve got to tell a better story if we want them to see reality.
There many, many voices saying what the problem is. But you're the first I've heard saying "... And this is what I'm going to do about it." I'm 100% here for it.
I mean at this point its either Gary's way or Luigi's way. And Labour are kinda showing already that they haven't got the cajones to really go after obscene wealth accumulation.
@geverniveup as a fellow Albertan, I feel this. I used to think "most things are relatively fairly priced in Alberta". Now I'm like "shoot, we are not so affordable either."
Thank you for fighting the good fight. There is so much misinformation out there and an average person just hasn't got a clue what to think anymore - trickle-down economics and the lie that we only have ourselves to blame if we don't succeed. You are a massive inspiration.
Thank you so very much for what you do. I watch your channel with my 26 year old son, who will be trying to get a mortgage this year. It teaches him, and me, about how things really are and why. We are poor as I am a single parent to him, and he has grown up without as a result of the situation. Thank you again, what you are doing is extremely important 🙏 👏 Wishing all the best for 2025 🥂
Getting two promotions and three pay rises in last 3 years at work, yet having exactly the same struggle financially(after selling everything I enjoyed to pay off as much debt as I could).. living standards dropping for "normal" working people is so real and so god dam depressing!!! Glad to have found your channel to understand why this is happening!
@@amadeus6312 I sold off everything, then the price increases came from Covid. Energy prices sky rocketed, food went up... I reduced my out goings by £££'s and my bills increased by just as much!.
I moved to this country 10 years ago. I worked for 6 pound and I was happy… 10 years later I’m earning 4 times more and I’m struggling…. Time to cut my expenses with moving to a cheaper country but still work for pound. This is the only way folks !
Gary - I'm a tenure-track finance professor in the US who did a PhD in Economics (graduated in 2020). I got your book for Christmas, and just finished reading it. It's an excellent page-turner, and I think you're completely right about inequality being a driving force of asset price increase and declining standards of living. I also agree that the standard models of macro economics taught in grad school would miss it. If you get a chance, I'm curious about your thoughts on Piketty's thesis (which seems related to yours) and the idea that some of the declining standards and well-being of the middle-class are related to community break-down, addiction, etc. as espoused in books like Bowling Alone and Hillbilly Elegy. Apologies if this comment is excessively posh, lol.
@@dgaunn4114 the key to get this point is integrating a valuation of the input of non monetary transfer into the models : socialized healthcare, community services, amenities etc
one exemple : Universal pre-k doesnt contribute directly into gdp the same way as for-profit child Care does, but it's impact on éducation levels for kids and on disposable income for parents is huge. huge, yet almost Invisible
@@jheden9386 though the general problem with GDP is that it doesn't care what the money is spent on. If the government does healthcare for half the price of the free market, its contribution to GDP is half as much, though its value is the same. Fundamentally the problem is that healthcare and other things done by government aren't in the inflation figures.
Proud subscriber to the Patreon, I login every day and it’s really nice to see a very positive community developing already. Including a tool to email your local MP developed by one of the members. Let’s do this!
Well said. THAT is the best endorsement for joining the patreon community I could imagine reading. What provisions are there for anyone who has no income?
@@satyasyasatyasya5746 Gary has set up the Patreon so that he doesn't receive any money from it. All the money is going to be used to further the channel and the message to an even wider audience by enabling Gary to hire some help. We are paying to essentially become a lobbyist function to get this message of sorting out inequality and ensuring the rich don't eat the rest of us alive!
@@satyasyasatyasya5746 for a project to be sustainable, it needs continued source of income, for a political project like this, it can be quite substantial. Like how political parties need millions in funding for advertisements, manpower etc... i think as much as gary would like to supplement that, he would not be able to for a long time. Theres also the fact this is a community project, not a personal prokect. Everyone who cares is involved, not just gary in his work towards spreading the message about social inequality. So its just for anyone who has faith in his message to contribute - patreon earnings do not go to him, but the community project.
It is fantastic to have you back, I have been telling anyone who will listen over the past couple of years that something massive needs to change and I believe this/your approach is it. Lets do this, the more of us that get on board, the louder our voice will become 👍
Your message resonates with me. I’ve been saying this for years. United we stand divided we fall. People don’t want to look at reality it’s truly sad and frightening. Thanks for being a voice. I hear you.
I hardly ever comment, but since finding your channel a few days ago, I've been binging away at your videos filled with sensable explanation, presented with the utmost integrity and the proper no-bullshit-attitude. Thanks mate, I can finally put my finger on this feeling, that things just slowely start to get harder and harder, and now I understand better, why exactly. Don't ever stop!
@@TonyHavenMusic Hah, I was just about to write something similar when I clicked the reply button, but seriously you don't have to be as clever as Gary to predict, I do it all the time, soon as you take out the propaganda and all the 'noise' it becomes quite easy.
100% correct. I remember thinking to myself as a child "How is this supposed to work? It seems inevitable that someone would end up with all the money, we'll run out of resources, and then all but a few will be left with nothing." That is simply the logical conclusion of a system where having money is what makes money, and infinite growth is required for it not to come crashing down.
The wonderful thing about truth is that it is so obvious when someone like Gary spells it out and put it into words with such clarity . Sadly scapegoating is a very powerful argument.
If you are referring to migrants as scapegoats, hundreds of thousands (millions) of low skilled people are not going to add to the economy, but will consume more in services than they will ever contribute. They will only make the majority of us poorer.
Gary, this is the saddest most honest thing I’ve heard in a while. It truly is the greed of the elite 1% that are squeezing every last drop out of the rest of us. I’m so glad you were bold enough to call it exactly as it is. We are witnessing the last days of the middle class and the new era of the haves and have nots. All I can do is pray for assets to come CRASHING down as deflation in prices for services is already here but assets are still stuck sky high. And the 99%ers down own assets, we’re struggling to get by.
That is exactly what happened at the end of the Western Roman Empire, the Middle Class were squeezed out of existence and all that was left was the very poor and a select band of the very rich. It also saw the introduction of proto-Serfdom. It is a lesson from history that is being allowed to repeat itself today. It did not end well then, and it will not end well now.
I agree with you. It feels as though we're heading for a revolution. Let's hope it's a peaceful one, but with Musk, Trump and Farage on the ascent that seems unlikely.
Garys Economics: I have a question for you. Do you see there being any value (as an economic movement of sorts) in opting out of unnecessary economic activity as a consumer (or perhaps as an investor, as for example many Americans have their 401K invested in the stock market)? How broad in scale and how sustained would such an “opt out” have to be to make a wave (or at least a ripple) in the system? I guess I’m trying to figure out what, if any, power we might have or could exert as a majority-which we are.
I didn’t hear the word Oligarchy, which is what we are really turning into. Yes, it is characterized by high inequality but its real strength is that it controls all the levers that entrench the status quo and ensures inequality perdures. Buying off politicians, controlling the courts and owning the media is how oligarchies control the narrative and ensures the status quo is maintained. With this in mind, Gary should expect to be marginalized and face a lot of headwinds if his intentions are to highlight things like inequality which oligarchs really don’t want discussed.
@ one man’s righteousness is another man’s blasphemy. Media outlets will do what their owners want. Usually, mainstream media will divide around cultural issues and ignore or minimize issues relating to growing inequality.
@@BachsRides Do you just say "bot" every time you see a potentially "provocative" or contrarian comment? Would you have any clue how to identify an actual bot?
I’d have so many questions to ask you. But my most important one would be : - how can we separate in politics, the idea that the inequalities are growing with all the anti-economy sentiments ? My point is that as a French, we have a left that’s economically more left than what UK has to offer. They talk about inequality, but they lack a track record of economic policies to tackle that issues (cf François Hollande presidency). They also propose to fight inequality by ways that would be destroying non rich small and medium businesses. I’d love to also discuss policies and their exact implementation to avoid hitting the middle class that’s frankly paying most of everything while also growing smaller every year
hollande was more of less a copy of blair (or now starmer) in the uk. or indeed many "social democrat" leaders across europe since 1990. they do the same neoliberal politics as the conservaties, because that's the "consensus" of how economics works. another point is that we have let the rich become too powerful over the last decades. after most of the state's wealth has been privatised, the state has less control over the economy and is more reliant on financal markets for financing. and if the rich investors don't like to see what politics proposes, that can drive borrowing costs through the roof.
@ yes, but if we take a broader look, Hollande followed austerity plans the EU wanted to follow, it didn’t help companies thrive and the GDP took longer to recover than Obama’s spending spree. This led to higher unemployment and loss of wealth for workers. But Macron spent on the same principles as Obama did, and it trickled towards the rich even though it saved a lot of people momentarily. It’s two radically different approaches and every time the little people lose. Now we’re heading for another austerity plan and massive layoffs and companies defaulting. Meanwhile the stock markets are ATH and the real estate didn’t really go down and is likely to keep going up with lower interest rate.
@@thetakburger7928 austerity never works. all it does is reduce the spending power of ordinary people, which reduces gdp, which blows up the government debt in relation to gdp. if you carry through with it like in greece you get financial stability again but with a MUCH poorer population. indeed, government spending boosts the economy but because nearly all the assets are owned by the rich, the wealth inevitably ends up there in the end. it works when there is room for good growth in the economy (so that growth is a lot higher than the government deficit and real wages are rising), but we see that this is not possible in mature, advanced economies anymore. in europe we all have growth lower than the deficit. if try to lower the deficit we inevitably slide into a recession. the only solution i see is a transferral of ownership of the assets to the working people, either directly to the workers at a company or indirectly through the state.
@@tru7hhimselfI say let it fall. It will come back after a decade or so. We are in to deep for anything to fix the issue in my opinion. A complete default of debt is the only option.
Capital in the 21st Century by PhD economist Thomas Piketty outlines the issues discussed in this video. If we want to remain a partial meritocracy rather than the only way to gain significant money being to already have it, then the amount of money, which flows forever upward, that is redistributed back down via taxation, must increase.
Gary you're smarter than all the mainstream bigwig economists and the only economist i know of whose actually explained in logical manner and addressing the ACTUAL problem. I've liked and subscribed and hope your channel explodes so that these views can become mainstream. All the best!
I will be forever thankful to you, you changed my life I will continue to speak on your behalf for the world to hear that you saved me from huge financial debt with just a little trade, thank you Jihan Wu you're such a life saver
As a beginner in this, it’s essential for you to have a mentor to keep you accountable. Mr Jihan Wu is also my invest analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my investment decisions align with market dynamics for optimal returns.
Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's
Hey Gary, loving what you're doing with the channel, keep it up! I do have a question, and you may have covered this in detail in other videos, but I want to understand how exactly the UK Government could successfully impose a wealth tax? Obviously, we have the difficulty of getting them bought into the idea first. But secondly, if you're successful in your campaign, how can the Government implement this and avoid past wealth tax failures due to the wealthy moving assets abroad or finding loopholes? This is a huge administrative task, so I want to understand your views on how we could design a wealth tax that: - Takes advantage of modern financial technology (AI etc) and international cooperation to better track and assess wealth - Addresses the specific problem you've identified of the rich getting richer through asset appreciation rather than just income - Could be implemented gradually enough to avoid triggering massive capital flight but effectively enough to actually reduce inequality
I don’t think he’s really answered this before because there isn’t a good answer. One model which has worked is the Swiss system. You basically get rid of capital gains tax, allow for a lot more deductions from income tax that working people actually need (eg health insurance and childcare) and then tax all wealth above a certain amount at progressive rates. The problem is the U.K. can’t try anything new without the press and the bond markets freaking out and crashing the economy
Inequality is mostly self harm and lack of knowledge. Take 20% of your wage and stick it in the snp500 On a sipp. And forget about it. It's a slow burn for the first 7 or so years but keep pushing that snowball and you'll be alot more comfortable in life. 30 years of compound interest will do it's thing. It's sacrifice on your behalf but that sacrifice rewards you later on. Overall that line only goes up, and will continue to be propped and pushed up long-term. It's a capitalist system, play the game. Sitting on the sidelines, arms crossed and pouting "it's not fair" isn't how the game is played.
Moving to equality will not make up for stupidity, lack of education, no skills, misinformation and general laziness of the majority of the population.
@Christina-g4s That is just nonsense and disrespectful. Do you think people in poverty can afford to save 20% of their income each month? The people using food banks, working 2 jobs just to get by.
@@MRexlit3 I'm on £12.35 and hour That's just over £400 per week wages after tax. If the government is gonna take 20% of my wages, I'll pay myself 20% of them too. That leaves £1200 to live on for the month. £600 on rent and bills, £200 on food. And £400 to frivolously spend. ( Which I spend half of that) I easily put 25% aside a month. (£500) (For most other people transport costs will factor in) Anyone can be poor, not everyone learns how to be poor.
@Christina-g4s if you can easily put aside £500 a month, then you are not in poverty. Wage doesn’t directly mean poverty. Someone could earn min wage but have no mortgage, live with their parents, have no kids, etc. Meanwhile someone on 50k may have child care costs of 1k a month + 1k mortgage/bills, etc. Costs have spiralled completely out of control. Min wage only gets you by in low cost of living areas, and there’s a reason they’re low cost of living. They have no opportunities. This country has a serious problem of lack of investment and wage growth compared to cost of living. Also, sure saving for 30 years will lift you out of poverty, but that’s assuming you make it 30 years. Imagine struggling all those years just to die before retirement?
Welcome back, Gary! We missed you while you were gone. Hope you had a wonderful vacation. Every word out of your mouth is 100% true, it is incredibly frustrating how so many people can ignore something as obvious as the fact that inequality and endless imperial wars are at the core rot in our diseased kakistocracy.
This is not the time to sit back and watch how wealthy others are or how much money others makes, this is a fresh start for everyone and it’s time we start making advances to our own advantage
Most people get caught with the act of wishing on other peoples lives, how wealthy they are and all without thinking of building their own wealth, investing in yourself should be your major priority and not looking to be someone else
Building your financial strength is what people should focus more on, I’ve always been a fan of investing and earning more money than watching someone else’s life
Absolutely!! There’s no better wish than building yourself into becoming wealthy for other to wish to become who you are, I quickly understood that and I’ve been working in that pace, I work and at the same time invest in both stocks and foreign exchange markets, different communities and all, this has really helped me earn enough money than I could ever earn working for the next 20 years
Isnt this paradox interesting? We blame inequality and yet strive to be on the other end? Perhaps initially it's all about doing your best and making the most out of it. Eventually you hit it big, buy more assets and behold you are now considered quite wealthy. Another Gary video about wealth inequality arises and now you're on the other fence. This truly is the rat race.
I’ve always been the kind of person that admires those who are wealthy, please since there’s advice going on what can I do to be wealthy? I work different jobs just to meet up with bills and my day to day living
I agree with your analysis… mostly. But i think you have missed one dimension of the problem. One way for the rich to get richer is to erode the value of labor. This happens by importing cheaper labor, it happens by exporting jobs, it happens through automation, and it will increasingly happen through artificial intelligence.
If importing labour and offshoring weren't plausibly part of the problem, it wouldn't be such an effective scapegoat for those seeking to distract us from the real issue, which of course is wealth inequality. Concentrating on that though is like trying to fix a small hole in the side of the bucket, when the bottom has already fallen out.
After reading book titled The Elite Society's Money Manifestation, I finally understood why so many people struggle with money. It reveals stuff that most people don’t even know about how money really works. Has anyone else read it?
Newcomer to your channel. Live in Seattle but recognizing what you describe and explain is also true for the US. My concern is mostly around the question of arresting the inequality without resort to war or revolution.
Good stuff Gary - I was a tadpole in FS and managing money. Had a feeling that something was going pear shaped from all I’ve seen you have the best read! 👍 Good work
The problem with Oxford economics is they don't look seriously at monetary colonial power and stick with the savings/lender mechanics in banking. So first look at the law and what banks do when they make a loan, they buy a contract to pay back the loan using the double entry book keeping, creating new money in the process to balance the books. The savings stay in the bank. Government do something similar by spending money into the economy and taxing some of it back to avoid inflation, the rest is government debt which may be financed by selling bonds,, which removes some of the money from the rich without hitting them with taxes. Well the rich have all the power, so they force the government to do it this way. Is there a solution? Yes but that is a direct assault on the rich and they will mobilise every instrument to stop it, so hiding to nothing. In the end when capital finds it better to live off rents, interest, insurance than making useful things to sell, productivity falls and inequality rises. We are stuck in a loop here and all roads are blocked, except in the east, at least those parts that are not under the control of colonial powers in the form of finance. There are places, free from this model that are getting better steadily mostly in the east despite sanctions and western military bases on their borders. Gary you must read Super Imperialism by Michael Hudson who does a real historic analysis of this system. I like your intent and respect your insider dealing Knowledge but it's a much deeper problem than you realise. Widen your understanding by reading some of the great Thinkers around today, Hudson, Werner, Keen and others to inform this LSE/ Oxford view and infuse it with reality. New thinking please, or fail.
The recent Nobel prize winners in Economics make it pretty clear that colonial institutions have played a role in wealth extraction and inequality. Often I see that Westerners don't want to acknowledge this, it's not about playing the blame game, it's about diagnosing the illness.
Good video Gary, I think my only issue is where you say that the government is clueless when it comes to tackling inequality & the economy. It's actually that any government that gets into power will have been bankrolled by the people who are profiting off this system. We should be calling the system corruption as it is.
What stops the asset owners from simply increasing the cost of the goods/services provided by said assets to the consumers to cover the additional taxes?
@@lukemclellan2141 Let's use wealthy individuals as example 1. 1. They used leverage to buy multiple assets such as houses, and have benefitted from unearned inflation. It's immoral. So tax them. If they decide to increase rents so be it. Or implement a rent control. Same with their stocks which have inflated. Tax them on the unrealised increase. No good/service to pass onto the customer here is there.
Customers not buying their goods and services anymore and going to the small businesses that did not receive the increase in progressive taxes because they own less assets?
And...... Watch all those people leave to UAE, Dubai, Saudi and enjoy their wealth tax free. It's not going to work, the only people paying tax are those not wealthy enough to relocate.
Gary, I wish personally to thank you for all your hard work, and calling it out for what it is. I live in Australia, and our economy is certainly not a picture of health for everyday people. I try to talk about it with as many people as I possibly can because it’s clear that if people aren’t actively talking about it, and calling it what it is, then what hope is left. I am 35, and am equal parts ashamed and gutted I’ve not yet been able to buy my own home. House prices here are utterly insane. Thankyou for being a voice in this fight!
I hit $106k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.
It's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Evelyn Vera. for years and highly recommend her I focus on her. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Great video Gary. I love the way that despite being a wealthy person, you appear to live a modest life. The fact that your flat isn’t set up to look like a show house, is refreshing. Keep up the good work spreading your message!!# Fairy washing up liquid
Little things. I suspect he still hasn't truly let go of his obsession with maxing out value of investments, so he's likely reluctant to spend more. Taking 6 months off to go to Japan won't have been cheap, nor is being essentially unemployed aside from the book and like 1 guardian article years ago. There's other little signs like the zojirushi rice cooker but I think he's just never been that much of a material guy. I've not actually managed to read the book yet (lent it to my Dad a while back) but it seems to me that after how he grew up always wanting to be rich, buying himself a flat, buying his sister's house, once he stopped to think he just didn't know what all that money was for.
@@ninjadudeofficial A roof for oneself is a fundamental necessity; the fact that it's becoming an unobtainable 'privilege' is a national disgrace & illustrates the severing of any "Social Contract"
Kiwi, living in West Africa. Interesting observation. Cost of living for imported items is way up. Cost of living for local food, is only up a little. Living local.
@@aswath134 One of the things about living on a remote island 3 hour flight away from the nearest big cities (Australia) is that lots of Kiwis want to get anywhere closer to other countries. They are everywhere lol
@@mapper7310 yes I grew up in what i considered a sleepy town of 400k. I reckon a sleepy town in NZ is probably scores of sheep, a border collie and a family of 4.
I used to think it was just about buying stocks, but I didn’t realize there are strategies for managing risk and actually making a profit. Now I feel kinda stuck since I’m not seeing any profits in my portfolio. Do you have any recommendations on what I should consider? I’d really appreciate it
It's not just about having money to invest in stocks; it's about knowing the right strategies for profit and managing risk. That's why working with an investment advisor is important-they have insights not available to everyone.
The truth is, the role of an investment advisor can often be overlooked but should never be underestimated. After facing a significant portfolio loss in 2020 during the COVID pandemic while trying to manage my investments on my own, I decided to reach out to an investment advisor. At that time, I had about $126K left in my portfolio. Now, without having to lift a finger, I'm semi-retired, working only 7.5 hours a week, and I'm just 15% short of my $3.5 million retirement goal thanks to my subsequent investments.
My CFA is Gabriel alberto william, a renowned figure in his line of work. I recommend researching his credentials further. he has many years of experience and is a valuable resource for anyone looking to navigate the financial market. To be honest, I almost didn't buy the idea of letting someone handle growing my finance or even render financial advices, but so glad I did.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.
The FED knows. They aren't committed to attacking inflation. They are going to continue to inflate, stocks and commodities will continue to go up with everything else. You can't just sit on cash waiting for a crash, get your money working for you, start buying in slowly and then gradually increase the pace of buying as the prices continue to drop
In my opinion, now is not the moment to rely on hearsay. Every individual, regardless of their level of experience as an investor, requires guidance at some stage.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Please tell me how can I connect to your advisor. My funds are being murdered by inflation, therefore I'm looking for a more profitable investing strategy to put my portfolio to work.
Do your homework and choose one that has strategies to help your portfolio grow consistently and steadily. ''Lisa Grace Myer” is responsible for the success of my portfolio, and I believe she possesses the qualifications and expertise to meet your goals
I think it’s a mix of not understanding the inequality problem, but maybe more so that most of the people in government ARE the rich and wealthy. So they either know about the inequality issue and don’t really care since they and their company around them are flourishing in it, or they’re ignorant to it as they don’t experience it in their day to day lives.
Gary, I've watched all of your videos. Really like how you keep on message without choosing a party. It's refreshing to hear anyone calling out the establishment as you have. I hope MPs are watching you too. Could you do a video on a failed council, like Birmingham, explain how a council could bankrupt itself? Did it break only policy or was it worse?
Inequality has always been the problem. Marx and Engels pointed this out nearly 200 years ago. And the solution has always been the same. The people who produce all the wealth (that is economic and social wealth) are the workers. The workers should be the ones who decide how that wealth is used and distributed. However, the workers have allowed themselves to be misled by political entities who claim to know what to do. They don't! Politicians work on behalf of the ruling class to appropriate, accumulate and secure that wealth. It's the oligarchs, the corporations, the bankers and the aristocrats who control the wealth. They steal it from us, the workers! All this talk about interest rates, government debt, GDP, inflation etc, its just smoke and mirrors. You said it yourself Gary; wheres the money gone? When the banks went bust in 2008, why did we (the taxpayers) have to rescue them? Why didn't their own shareholders bail them out? Didn't they have reserves or insurance? And where is all that money now (£400bn+)? The answer is simple; it was a con. And they will do it again, and again until we realise its a con. The whole money system must be controlled by us, the Working Class.
Main Stream Media is owned by the rich, why would the greedy rich want to inform the poor that the rich getting richer and the poor getting poorer is of their making???
Hitting the nail right on the head once again Gary! I hope the huddled masses start to listen and some of the political parties take up the mantle soon!
Can you describe in detail what you mean by, “living standards for ordinary people are still significantly worse”? I see how things are becoming more unaffordable yet all seem to be carrying on as if there are no issues (renters ordering out food, buying cars, etc.)
I love this channel. I think people are finally getting the message on inequality and it is fundamental to fixing everything. If you see the example of how Deng Xiaoping tackled poverty in China; he used the creation of wealth to lift everyone out of poverty. It is a very interesting case study and offers an alternative point of view. Unfortunately the western media distorted reporting of China prevents many people from even looking at their economic model. I am not an apologist for China; I just look beyond the propaganda on both sides to see if solutions exist. Wishing you well for the New Year.
Another case worth looking at is Singapore under Lee Kuan Yews approach to capitalism lifted millions while maintaining social equity. It’s true that biased narratives often block understanding of alternative models.
@@Brandon-v2w9o It is interesting how Americans are now trying to learn from Singapore's housing model. Clearly the rental system in cities like New York is broken. Individuals complain of sky high rents for accommodation barely fit to live in. I think the Americans are right to consider what works well in other countries and adapt to a model that works very for it's populace.
Greetings from Spain! This inequality issue seems to be affecting the entire Western world. The real challenge, though, is figuring out how to deal with wealthy individuals moving to countries with lower taxes. If they leave, they end up paying no taxes at all in their home country. I find it difficult to wrap my head around this dilemma.
I asked chat GPT for potential solutions: Potential Solutions Balanced Tax Policies Progressive but Competitive: Design tax systems that are progressive (higher earners pay more) but avoid extreme rates that incentivize relocation. Incentives for Staying: Offer deductions or benefits tied to local investment, philanthropy, or job creation. Global Tax Coordination International Agreements: Coordinate with other countries to set minimum tax rates or address tax havens, as seen with the OECD’s global corporate minimum tax proposal. Wealth Transfer Taxes: Implement cross-border agreements to tax wealth or income that originated in the home country, even after relocation. Non-Tax Incentives Quality of Life: Invest in healthcare, education, infrastructure, and public safety to make the country more attractive for high-net-worth individuals and families. Prestige and Influence: Create opportunities for the wealthy to have a stake in national initiatives, fostering a sense of pride and responsibility toward the country. Exit Taxes and Citizenship Ties Exit Taxes: Charge a one-time tax on unrealized capital gains or a portion of net worth when individuals renounce citizenship or leave. Tax Based on Citizenship: Like the U.S., some countries tax citizens on worldwide income, regardless of residence. Promote Social Responsibility Foster a cultural shift where contributing to the welfare of society through taxes is seen as a moral obligation and a source of pride.
How many Corporations pay flip all or zero tax??? Seems a lot and low interest borrowing in US anyway. Seems US people who live elsewhere they have to still.pay tax? Maybe because of US income. I found I had to pay tax wherever the income was derived, existed.
@@carlywright5127 yes, US cittizens pay taxes no matter where they live. I think a massive exit tax could be a solution for all these rich trying to leave. But a international agreement is probably something more important. I am not sure what's the best solution but is not easy.
@@matc956 never fear. Gary has a video on why the super rich are actually the most taxable. High Income people can move, but the very wealthy with all the assets cannot. So you tax at source.
There is an urgent need for grassroots collaboration right across the UK, mobilising millions of ordinary towards a common goal overturning the basic ownership and operational model of our common assets
I think Corbyn is recognising this, but I hope his group of independents realise they're much more powerful if they work with the greens when appropriate.
Gary, You have nailed what the problem is. But, the fix is not to tax the rich, or at least not just that. We all need to take agency for our own future, instead of throwing hands in the air and waiting for our betters to fix it. Nobody is coming. We need to take production back, take ownership back, and shift how we think about work and production. The easiest way to do that is through starting small business that actually make real things, not just intellectual product and hire locally to do it. And spending locally. The rich need to buy stuff too, that stuff needs to come from the middle as fast as possible.
Tell me why either poor or rich people would actively chose to be expensive items produced in the UK rather than cheap items from China. Production gravitates to the cheapest stable producer. For 'simple' items that's India, Pakistan, Vietnam etc. For more complex China. Next will be production moving to Africa to Oxford. The Chinese know this hence they're upskilling they production base and now seeking to produce their own products rather than supplying to Western companies to slap a sticker on it.
@ Will it happen the way you say, most probably. But nevertheless, that shift I speak of is what is required to make the financial game circular once again. You have to ask yourself, how was the middle class built to begin with? Well, most of it was built on de-centralized production. Whether that product was a mined material, an agricultural good, or a function/service done to those, the task was performed at a more local level, and the rewards spent more local. Fact is, wealth returns to the source of the goods. Just like electricity does. Don’t make anything? Then expect nothing. Where is the middle class development today? China, India, Pakistan, Mexico, etc… Why? Cause they are the sources of the goods. Im not telling you to buy more goods, Im telling you to make them, mine them, etc… Either way you have a serious sales problem. Sell everyone on the idea of taxing the rich in hopes that the same rich people in the government will share with the poor, or you sell them on the truth. The truth that they can continue to buy the ropes used to hang themselves or rebuild the production that pulled them out of perdition in the 1st place.
Gary I’ve been a listener since your first Novara downstream, read your book and loved it. I reckon getting this out there on the TV networks is a great next step, I’ve heard from the Novara lot that it’s a bit of a brutal, and at times, unfair gig. But your message is one that will really resonate with people and I think you’d do really well getting out there on those political panels/talk shows, you have the credentials and the message!
I really love your channel Gary. I grew up in a council estate in Poplar. And I am now studying Political Economy at a Russell Group. Your videos are eye opening.
Yes but there’s always religion for many of the poor. Or of course gambling or drinking or sleeping around. As long as you’ve got enough for a pie and a pint life is good.
Health inequalities are intrinsically linked to wealth inequalities and is another topic that doesn’t get any attention from the mainstream media. Your postcode shouldn’t determine the chances you have to live a healthy and fulfilled life but sadly it’s true. Micheal Marmot has published multiple research papers on this - it would be great to hear your opinions on the topic Gary!
Some economists are worried that the policies of Trump 2.0 will prove to be inflationary. My question is, does the economy really determine the stock market? I still see booming performances and curious how to go about investing for my eventual retirement.
It kinda does. There are cycles and we are due for a crash to snap things back in line with reality. Ideally, investors find help utilizing the service of an advisor to avoid irrational behaviour in face of volatility and uncertainty.
The market is based on reality yet I don't see the reality. I'm in line with using an advisor, saves me the time and hassle of picking the right stocks. Thankfully, I'll be entering into the new year with another 60% annual return, just about 10% shy of $1m in barely 5 years.
a booming stock market does not always mean we’re in a booming economy and when you see this disconnect between the real world and wall street.... things have a way of snaping back inline. By the way, your advisor must be grade A, cheers!
Zareen Grace Church is the licensed FA I use. I've stuck with her since the covid-outbreak, and her performance has been consistently impressive. She’s quite reputable in her field with over two decades of experience, so I guess she's one of the best out there.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Just read your book Gary. It blew me away. I took a literature degree in 1978 and I've read quite a lot of books. I've never enjoyed one like I enjoyed yours. I both laughed and cried from the deepest part of my soul. I never wanted it to end. It is an absolute inspiration. We need the whole world to read it. Let us all keep focusing on the clear and simple message of taxing the rich. Let us keep thinking of how we can spread the word further. Let us be prepared for the shit they will throw at us if we ever get anywhere near changing this rotten system that brings out the worst of humanity and is quite obviously leading us all to hell. Thanks, you are a great human being.
You sir are painting a bull's eye on your back for sure. I suggest that you double down on your investments to generate funds to pay for some private security because the stuff you're saying is resonating with the masses and I'm sure the establishment is not happy about that. Keep up the good work and keep safe brother. ✊🏾 Power to the people!
the rich won't give one crap about what he's saying. because he's not talking about rentier activity, and therefore has no specific plans to actually hurt rentiers.
Successful people don't become that way overnight. What most people see as a glance of wealth, a great career, and purpose is the result of hard work and hustle over time. I pray that anyone who is reading this will be successful in life. ❤
I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..
Hi Gary, I wanted to mention that you can create an e-petition in the UK to raise awareness and generate support for your views. If the petition gets 100,000 signatures, it can be considered by the UK Parliament. This could be an effective way to get your message out there and put pressure on lawmakers. I hope this helps, and I look forward to seeing what you do next! Best regards, Dave
Always enjoy listening to your views on economics Gary. In the last year Gold was up 28%, NASDAQ 31%, S&P 500 33% and Rigetti (quantum computing stock) 1929%. Stocks are risky so I would put 90% in safer index trackers and 10% in stocks. Anyone can open a Trading 212 account and invest in these, it's just down to financially educating people. Property has been flat for the last 2 years and the rich are probably being put off investing in UK BTL property because Stamp Duty is so high. There are also too many regulations for landlords in the UK these days so it is probably easier for the rich to invest in the financial markets. Wrote to my last Tory MP about wealth inequality and taxing assets and she said everything is fine as it is. I have now asked my current New Labour MP about taxing the assets of the rich and offshore trusts - I'm not expecting much as I thing all UK parties (including Reform UK) are in the payroll of the rich. So it's probably best to try and join them (rich) rather than beat them I.E Keep your costs down and invest in income producing assets. Why don't they teach this at school I wonder?
I told my 5 year old that we have a problem of too much money in the hands of some and not enough in the hands of others… You know what she said? She said we should take some from those who have and give it to those who don’t. I said wow, you’re just as smart as Gary’s economics, but you don’t act like a genius Poundland prophet.
Gary, in 3-4 years when the time comes I’m voting for you. Truly believe you are what this country needs else its all going to fall apart all the best with the massive challenges ahead
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@Jasperchurchill Right, the role of adisors can only be overlooked but not denied. I got financially free at the age of 49 with over $1.6m in investment account alone. I was shocked that I made more money with money than with hard work, even my CEO income. Earning "return on investment" makes me more happy. (But I still enjoy working)
Right, the role of adisors can only be overlooked but not denied. I got financially free at the age of 49 with over $1.6m in investment account alone. I was shocked that I made more money with money than with hard work, even my CEO income. Earning "return on investment" makes me more happy. (But I still enjoy working)
Right, the role of adisors can only be overlooked but not denied. I got financially free at the age of 49 with over $1.6m in !nvestment account alone. I was shocked that I made more money with money than with hard work, even my C E O income. Earning "return on investment" makes me more happy. (But I still enjoy working)
Gold and stock prices have rocketed. House prices stalled. One ETF launch wiped the floor with all of it, smashing all records. Any guesses what that was?
Alright, I’ve been saving like a squirrel on caffeine and finally hit $87k in my emergency fund. Now I’m itching to dive into investing, but this economy has me side-eyeing every move like it owes me money. Anyone else out here trying to turn savings into actual wealth without feeling like you’re playing roulette?
$87k? Nice cushion! But hey, don’t jump in blindfolded. A financial advisor helped me sort through the chaos and pick smart investments tailored to my goals. Maybe consider getting one to save yourself the trial-and-error stress.
I’ve been thinking about getting an advisor, but honestly, I’m clueless about where to find someone trustworthy. Any tips on how to get started? It feels like there’s a sea of options, but none I’m confident in.
There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with “Linda Aretha Reeves” for some years now, and her performance has been consistently impressive. She’s known in her field, look her up.
I remember watching Linda Aretha Reeves speak at a Bloomberg Finance Summit a few years back-her presentation was phenomenal! She really knows her stuff, and it’s no surprise she’s well-regarded.
The Cantillion effect is just the way of things. Look at the last 10 years and the rise of Bitcoin. It's all there for anyone to understand. It provides a ladder and a life-raft, but the masses don't take the opportunity, and now that window is almost closed, and in ten more years people will complain that they have been priced out, even though they were there when the opportunity was staring them in the face.
Gary nails it-this rentier economy has turned ownership and hard work into relics of the past. Like Yanis Varoufakis points out, this isn’t capitalism in its original sense; it’s a parasitic system designed to extract wealth rather than create it. The middle class is being squeezed, not because they’re lazy, but because the rules of the game have changed. We’re forced to rent everything-homes, jobs, even our futures-while the owner class rakes in profits from systems they didn’t build, exploiting our labor and resources. And then they preach about ‘hard work,’ as if it means anything in a rigged game. This isn’t progress-it’s neo-feudalism, and it’s dismantling the social contract piece by piece.
Well said and well thought out you deserve a lot more likes
Exacly, and we're the "neo serfs" in this scenario.
Even feudal lords cared about their subjects to varying degrees. They didn’t all outright seek their destruction and humiliation. This absolutely is not the case now. You’re right that it’s not capitalism anymore. I would just call it internationalism. See the numerous videos of upper classes leaving their respective homes to go aboard.
The depths of their disdain knows no bounds.
@@Valoric Spot on.
@GoogleStealsDataGold is money..maybe bitcoin can be useful but i get the feeling it’s a deep state set up..
Hi Gary. I’m 17. Doing A-levels in History, Maths and Economics at a grammar school. I’ve been watching your channel for a couple of years now. My economics teacher showed some of your content to the class at the start of the year and relayed your messages. He told us that we’d all struggle to buy houses in the future.
I’ve had some conversations with fellow students about economics and politics. The overwhelming majority don’t know or care about wealth inequality. Immigration is the main talking point - everyone seems to ‘know’ a lot about that.
I picked up a copy of your book over Christmas with some book tokens I won and have nearly finished it now. It’s fascinating and really crystallises the points made in your videos.
Thank you for the videos and know that your messages are spreading!
Crawler
You’re at a grammar school pal, lot of the students will come from money and have right leaning well to do parents. They will have money to support their kids getting on the housing ladder and connections to get good jobs. They might even inherit from grandparents. You got to get friends outside that bubble.
You must make them different in the UK. Here in the US, 17yr olds don't talk this way.
@@drewmqn he's going to a grammar school. He's posh. Most don't talk like that here either. Inequality and all that.
You're a sad human. I pray for you. @@Ellio1862
Tariffs will increase costs of finished goods and components used throughout US manufacturing. This will be an immediate and huge hike in inflation. To fight inflation the Fed will have to hike interest rates which will be wonderful for the billionaires but possibly take away the middle class. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. So how exactly can we guard against the coming financial reset Like what are really the best strategies to make our portfolio recession proof against the incoming financial reset? I'm very worried about my $310k stock portfolio.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 75 cash earning 5.25 interest, 685k in roth ira, 120k in 401k, Gold and silver bars. age is 48. My advisr helped me realign my portfolio to my risk tolerance and it boomed shortly.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
‘’Aileen Gertrude Tippy'' is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
“It’s becoming increasingly difficult to spin what we are seeing as temporary…”; spot on.
Henry you get the “keep calm and carry on” mugs in the U.K. People are so easily fooled it’s no wonder governments and corporations are stepping all over us. Strange thing is we could end it all in a week if we act together but we continue to get fooled and divided in almost every aspect of life.
I’ve been thinking that for 14 years
The overriding attitude from boomsters in the West for decades has been, everything will eventually turn out alright for you as it did for us... avacado on toast, something, something.... they got this really wrong of course, and at the same time don't really care as long as their asset prices remain high.
Increasing Inequality is definitely the main repeating problem and History teaches us it rarely ever gets solved peacefully
True
A historian argues that inequality only resets after 4 things: extended war, plague, state collapse, and revolutions. And technology has weakened the impact of all of those except war.
The book is The Great Leveler by Walter Scheidel
👆 this
This is how World Wars happen and economics was behind each one. 3rd World War won't be different.
Remember boys: Good Times makes weak men.
@@LowestofheDead Wonder how many resets we have had already and history re-written? You would not know if the Napoleonic wars was a reset. We are simply controlled and there will always be inequality 😞You can only educate yourself and try to educate your family and try to hold onto that generational wealth, understanding that everyone wants what you have and the Government wants it more , and is not your friend 😞 All wars are Bankers wars , and you probably will own nothing and you wont be happy 😞
Sure it's a problem but it can't be the 'root cause' right. It is, in itself, a symptom of other things like tax, employment rights, education, etc etc...
People utterly refuse to blame the wealth class. Instead, we just keep fighting amongst ourselves.
Its not your wealth class. Its your managerial state.
@@LordRykard9376 And the state is owned by the wealthy class.
@gikigill788 incorrect. The wealthy and the mangerial class scratch each other's backs. It's called the managerial state as defined by James Burnham and Samuel Francis.
To many 'poor' people delude themselves that they're just a pay rise away from being rich. It's that delusion that has them voting for Farage thinking he's 'on of them' and is looking out for them.
Sowing division: this is exactly what the Con party, Daily Mail, GBNews , and now the Musk Rat does.
Have you tried joining a game of Monopoly half way through?
Even though you play by the same rules than the others, it is near impossible to succeed once they have bought all the assets and you pay rents everywhere.
Well, it's the same in real life guys...
Great analogy! A 21 year old couple working full time on min wage get £50k gross. With a 4.5x mortgage and 10% deposit they can bid on the average UK house and jump first rung in most of UK. So you can jump in halfway with a monopoly game with the minimum of wages. You need to just spend 3 years building a deposit rather than 3 years at Uni building a massive debt and then expect to be able to buy property past the Free Parking Square right away (ie London).
Excellent example, vast intergenerational wealth puts each new generation steps beyond their peers right from the start.
@@mat-ur6qbNobody is leaving university expecting to be able to buy an expensive house immediately. You’ve created a scenario that doesn’t exist to suit your agenda
YEP the people who control the capital and assets control everyone else. RENTIERISM is poison to wellbeing in society
A further point on the theme: I've seen grown adults at each other's throats over a game of Monopoly, and what's always fascinated me is they always get angry at their opponents and not the game itself - a game which is designed to be inherently unfair
Even though things might seem dark, it's uplifting to know that we've got people like you who are out here trying to do things better and educating the people. The comments are also a testament to the fact that there's people out there who want change. Btw, it's super cool to see how to subscriber count has gone up so massively.
My prediction for the coming years.. More people will listen to Garys economics.
Nice one
Needs to be millions of people and they / WE need to be engaged in action that comes out of the engagement - that is non violent, direct action that generates popular consent and attracts more and more people as it takes place
@@shadowofmyfutureselfI’ve been trying to setup a housing association that stops being being exploited for rent but normal people don’t want to invest and would bitch about the issues than doing anything
What is he actually saying though. To me it just sounds like he is saying there is inequality. That the rich get richer and everyone else gets poorer. This is not front page headline stuff. What he never does is provide what he thinks are the solution. I assume he does not do that because what he wants is actually quite radical and he isn't entirely sure it would work. I would value his honestly on this issue as he clearly knows what he is talking about. I just wish he'd have to conviction to present his thesis on the solution instead of just constantly pointing out some people are rich and others are poor.
👍🤞
I’m 38, I’m dyslexic,I don’t read, I failed at school but you make things clear and understandable for the standard chap. I brought your book just to show support (hard back) wasn’t expecting to read it. I read it cover to cover, great narrative and reads like a novel. Keep pushing buddy, you are a huge inspiration. I do art on the side and will try when I get chance to incorporate inequality into my work and send some people your way.
You didn't fail at school, they failed to teach you.
@ Cheers mate, although I was pretty hard to teach back then 😂
@D4RK-LIN3S yeah but it's still their job to "tame" you in a way (if it sound bad i'm sorry)
I was the Citibank (Auckland) FX forwards (overnight -1 year swaps) trainee >>> trader 1993 - 1996. Your book floored me but didn't surprise me. Well done for writing it. Not sure if people can really understand the trading room/treasury/corporate banking environment until they've been there. But I guess that's the same for everything, innit?
gday to a fellow aucklander! I guess these problems really are worldwide
Surely the millionaire haven NZ is not having young professionals struggling?
@@JoolsUK im sure you have some sarcasm here. Current nz median income is 17x below the average house price. Banks only allow loans 6x your wage now.
Could be worse i guess?
@airstry2828
I lived in Oz 3 years and saw those astronomical city house prices. But on the city fringes new builds were still achievable at about 4x two wages is that not the case in NZ? There are still places in UK to obtain houses outside of London here, just pretty tricky for young couples but is achievable.
@@mapper7310 I'm An Aussie and that is the point I keep trying to tell people.
These issues are WORLDWIDE.
I'm an engineer and my interest in economics came from a small project I did in 2016 into Australia's energy sector. Its way worse than ANYTHING the Australian people understand. When I look about the world for similar information I get the same story again and again *and its all the fault of economists.* I even heard the other day companies are leaving NZ because of energy costs.
It took me a couple of year s to get an understanding of the cause and its 2 things. FIRST - economists think the rest of the human race are a problem they have to manage. SECOND - economists don't understand how economies actually function at the nuts & bolts level. They know how markets function because that's WHAT they are trained in. What they don't get is that market solutions don't work for certain basic requirements. They don't get that every business and household needs things like energy and water AND if you screw those things up then everything suffers additional costs. That's why their market solutions don't work for education, health care, infrastructure in general and PARTICULARLY ENERGY. They don't understand how that stuff functions and supports society.
I watch people like Gary because it helps me understand how mainstream economists think and operate. His video on "Why are economists always wrong?" is something EVERYONE should watch because it explains so much. He's not perfect but the value of his information is staggeringly high.
As an Aussie watching this, it’s strange just how much this rings true for our own economy.
Love the work you’re doing Gary and wish you all the best in getting this message out there.
Hopefully it becomes a movement that all developed countries get behind because its certainly a troubling thematic!
@@123Winesy321 aus has a BIG debt bubble bc of housing and people leveraging into more debt
Becahse of what Gary is saying I voted Green because they put up a policy to tax big corporations by 40%. It's a start!
That’s because everything and all the financial markets centre around the USA. Europe & Australia are just tag along tours.
Fellow Aussie here. Rupert Murdoch and a hundred bot-generators are really ramping up the race baiting... must be an election coming. Half of using Gary's insights is the economics. But at least half is casting aside the moral panic/culture war bull$#1t that flows through social media like a flood tide.
@@BunnyRabit-yo3lx Do you think corporate taxes are effective? They disproportionately affect small businesses, are largely bypassed by large corporations through corporate structuring and any incurred tax is mostly externalised onto the consumer
i don't watch or read any news, but ever so often I let Gary educate me about what's really going on from his kitchen. Thanks Gary!
Gary, you’re a lighthouse in these dark times. Can’t tell you how much I appreciate you
Yeah? That makes sense to you that all of our problems are going to be solved with more taxes?
Amen
@ Well then, in the light of solving growing global inequality, I look forward to having everything you think of as yours taxed away from you, and given to any of the billions of people around the world who have less. This inequality must be stopped.
I watched your video on how economy is taught in universities nowadays, but you can not tell me with straight face that people in governments across the world don't know what the problem is, maybe some goverments and some people don't understand, but I am betting majority of them just don't want to change things for better since they are among those rich people.
That’s what I believe too, which is why they create problems
@lazarstanojevic7841 so blimming true - seems global elites are dominated by adherents of Machiavelli 's teachings that history shows the only political virtue is action and as one can never ensure 'the people' will love you - furthermore given sufficient leisure and means to do so will use them to unseat you - the most effective way of staying in control is to make people fear you. And what do we see - encouragement of mass migration of unskilled, cheaper and more malkeable
labour into advanced economies that are content to let their own existing 'left behinds' to stew in their own stagnating juices, the impoverishment and decline of the middle classes, and to top this up with every manner of legalised self-enrichmenf by the self-regulating, asset-stripping elites operating within national economies. Apparently the proud boast these days is not to be the victims but the creators of history.
Of course it is, it’s easy to be blind to something when there is an incentive not to see it, this is why it’s foolish to pigeon hole all reform supporters or MAGA people as stupid and racist, subconsciously they know there is something deeply wrong with our politics, they’ve just been led astray by the rich and powerful as to what is the cause, we’ve got to tell a better story if we want them to see reality.
Oh yeah. That is at least exactly what happens in France with Marcon that is very close to every french billionaire
There's an incentive for them to be blind to the problem.
There many, many voices saying what the problem is. But you're the first I've heard saying "... And this is what I'm going to do about it." I'm 100% here for it.
So, what exactly is he doing about it?
@@owenkrysler8235 He's going to build a political party that we can vote for
@@susanwallis7249 Good luck with that.
I mean at this point its either Gary's way or Luigi's way.
And Labour are kinda showing already that they haven't got the cajones to really go after obscene wealth accumulation.
Clear, concise and applicable to Canada, where I live. Should be shown in every school economics class.
I live in Canada. Alberta specifically...notoriously cheaper than almost anywhere else in the country. Wild how expensive it is here now
Brampton
The end of the neoliberal order accompanied by a loss of hegemony for the us and a rise in Multipolarity
@geverniveup as a fellow Albertan, I feel this. I used to think "most things are relatively fairly priced in Alberta". Now I'm like "shoot, we are not so affordable either."
BC resident here - so accurate for here as well.
Keep fighting the good fight. Peace from USA 🇺🇸
Thank you for fighting the good fight. There is so much misinformation out there and an average person just hasn't got a clue what to think anymore - trickle-down economics and the lie that we only have ourselves to blame if we don't succeed. You are a massive inspiration.
Thank you so very much for what you do. I watch your channel with my 26 year old son, who will be trying to get a mortgage this year. It teaches him, and me, about how things really are and why. We are poor as I am a single parent to him, and he has grown up without as a result of the situation. Thank you again, what you are doing is extremely important 🙏 👏 Wishing all the best for 2025 🥂
Good job. Get some real estate so you don't pay a rent even if it's outside town.
Getting two promotions and three pay rises in last 3 years at work, yet having exactly the same struggle financially(after selling everything I enjoyed to pay off as much debt as I could).. living standards dropping for "normal" working people is so real and so god dam depressing!!! Glad to have found your channel to understand why this is happening!
you never changed your ways to live if you sold off everything you owned but didnt change the way you live
I'm over employed makes no difference. 😢
@@amadeus6312 I sold off everything, then the price increases came from Covid. Energy prices sky rocketed, food went up... I reduced my out goings by £££'s and my bills increased by just as much!.
I moved to this country 10 years ago. I worked for 6 pound and I was happy… 10 years later I’m earning 4 times more and I’m struggling…. Time to cut my expenses with moving to a cheaper country but still work for pound. This is the only way folks !
@@sebestyenzoltan4674 so sad isn't it. We are meant to move up right? Gary's completely correct.
Gary - I'm a tenure-track finance professor in the US who did a PhD in Economics (graduated in 2020). I got your book for Christmas, and just finished reading it. It's an excellent page-turner, and I think you're completely right about inequality being a driving force of asset price increase and declining standards of living. I also agree that the standard models of macro economics taught in grad school would miss it. If you get a chance, I'm curious about your thoughts on Piketty's thesis (which seems related to yours) and the idea that some of the declining standards and well-being of the middle-class are related to community break-down, addiction, etc. as espoused in books like Bowling Alone and Hillbilly Elegy. Apologies if this comment is excessively posh, lol.
@@dgaunn4114 the key to get this point is integrating a valuation of the input of non monetary transfer into the models : socialized healthcare, community services, amenities etc
one exemple : Universal pre-k doesnt contribute directly into gdp the same way as for-profit child Care does, but it's impact on éducation levels for kids and on disposable income for parents is huge. huge, yet almost Invisible
You're a clown
Who funds the Pre-k? Government. Gov spending is accounted for in GDP
@@jheden9386 though the general problem with GDP is that it doesn't care what the money is spent on. If the government does healthcare for half the price of the free market, its contribution to GDP is half as much, though its value is the same. Fundamentally the problem is that healthcare and other things done by government aren't in the inflation figures.
Proud subscriber to the Patreon, I login every day and it’s really nice to see a very positive community developing already. Including a tool to email your local MP developed by one of the members.
Let’s do this!
Well said. THAT is the best endorsement for joining the patreon community I could imagine reading. What provisions are there for anyone who has no income?
@@shadowofmyfutureself Great point.
why would you give money to an already rich man?
@@satyasyasatyasya5746 Gary has set up the Patreon so that he doesn't receive any money from it. All the money is going to be used to further the channel and the message to an even wider audience by enabling Gary to hire some help. We are paying to essentially become a lobbyist function to get this message of sorting out inequality and ensuring the rich don't eat the rest of us alive!
@@satyasyasatyasya5746 for a project to be sustainable, it needs continued source of income, for a political project like this, it can be quite substantial. Like how political parties need millions in funding for advertisements, manpower etc... i think as much as gary would like to supplement that, he would not be able to for a long time. Theres also the fact this is a community project, not a personal prokect. Everyone who cares is involved, not just gary in his work towards spreading the message about social inequality.
So its just for anyone who has faith in his message to contribute - patreon earnings do not go to him, but the community project.
It is fantastic to have you back, I have been telling anyone who will listen over the past couple of years that something massive needs to change and I believe this/your approach is it. Lets do this, the more of us that get on board, the louder our voice will become 👍
Your message resonates with me. I’ve been saying this for years. United we stand divided we fall. People don’t want to look at reality it’s truly sad and frightening. Thanks for being a voice. I hear you.
I hardly ever comment, but since finding your channel a few days ago, I've been binging away at your videos filled with sensable explanation, presented with the utmost integrity and the proper no-bullshit-attitude. Thanks mate, I can finally put my finger on this feeling, that things just slowely start to get harder and harder, and now I understand better, why exactly. Don't ever stop!
Mornin' Gary, you forgot to predict the snow today ..... :)
Watch the 2022 video he did, he predicted it I’m sure 😂
@@TonyHavenMusic Hah, I was just about to write something similar when I clicked the reply button, but seriously you don't have to be as clever as Gary to predict, I do it all the time, soon as you take out the propaganda and all the 'noise' it becomes quite easy.
100% correct. I remember thinking to myself as a child "How is this supposed to work? It seems inevitable that someone would end up with all the money, we'll run out of resources, and then all but a few will be left with nothing." That is simply the logical conclusion of a system where having money is what makes money, and infinite growth is required for it not to come crashing down.
I just began watching your videos and i'm super impressed! Keep up the great work and good luck on helping your country
The wonderful thing about truth is that it is so obvious when someone like Gary spells it out and put it into words with such clarity .
Sadly scapegoating is a very powerful argument.
If you are referring to migrants as scapegoats, hundreds of thousands (millions) of low skilled people are not going to add to the economy, but will consume more in services than they will ever contribute. They will only make the majority of us poorer.
Gary, this is the saddest most honest thing I’ve heard in a while. It truly is the greed of the elite 1% that are squeezing every last drop out of the rest of us. I’m so glad you were bold enough to call it exactly as it is. We are witnessing the last days of the middle class and the new era of the haves and have nots. All I can do is pray for assets to come CRASHING down as deflation in prices for services is already here but assets are still stuck sky high. And the 99%ers down own assets, we’re struggling to get by.
That is exactly what happened at the end of the Western Roman Empire, the Middle Class were squeezed out of existence and all that was left was the very poor and a select band of the very rich. It also saw the introduction of proto-Serfdom. It is a lesson from history that is being allowed to repeat itself today. It did not end well then, and it will not end well now.
I agree with you. It feels as though we're heading for a revolution. Let's hope it's a peaceful one, but with Musk, Trump and Farage on the ascent that seems unlikely.
How many of the 99% have a retirement account that's invested in assets? Curious.
@ probably half or so but that won’t save us. It’s all exponential growth
Garys Economics: I have a question for you. Do you see there being any value (as an economic movement of sorts) in opting out of unnecessary economic activity as a consumer (or perhaps as an investor, as for example many Americans have their 401K invested in the stock market)? How broad in scale and how sustained would such an “opt out” have to be to make a wave (or at least a ripple) in the system? I guess I’m trying to figure out what, if any, power we might have or could exert as a majority-which we are.
I didn’t hear the word Oligarchy, which is what we are really turning into. Yes, it is characterized by high inequality but its real strength is that it controls all the levers that entrench the status quo and ensures inequality perdures. Buying off politicians, controlling the courts and owning the media is how oligarchies control the narrative and ensures the status quo is maintained.
With this in mind, Gary should expect to be marginalized and face a lot of headwinds if his intentions are to highlight things like inequality which oligarchs really don’t want discussed.
This is exactly what it is.
Great post. So a major question is: how to progress a righteous cause in the face of right wing dominance in the media?
@@kevinwells768 in America it’s the left wing
@ one man’s righteousness is another man’s blasphemy. Media outlets will do what their owners want.
Usually, mainstream media will divide around cultural issues and ignore or minimize issues relating to growing inequality.
@@EMan-cu5zo Fox News?
Keep up awakening people
Gaslighting you mean.
@ gaslighting? Or your one of those dumbos that blames immigrants for all your problems
@@tigersilberhannes9153 Obvious bot.
@@BachsRides Do you just say "bot" every time you see a potentially "provocative" or contrarian comment? Would you have any clue how to identify an actual bot?
You’re the first channel I genuinely want to subscribe to- and it feels very empowering .
Massive respect Gary from Greenwich
Greenwich too
@@martinzihlmann822me too. Graduated 2022
Love the videos! So informative and understandable, keep it up!
Joined from watching james o brien interview. Completely agree with everything you said, keep it up you are reaching people
I’d have so many questions to ask you. But my most important one would be :
- how can we separate in politics, the idea that the inequalities are growing with all the anti-economy sentiments ?
My point is that as a French, we have a left that’s economically more left than what UK has to offer. They talk about inequality, but they lack a track record of economic policies to tackle that issues (cf François Hollande presidency). They also propose to fight inequality by ways that would be destroying non rich small and medium businesses.
I’d love to also discuss policies and their exact implementation to avoid hitting the middle class that’s frankly paying most of everything while also growing smaller every year
hollande was more of less a copy of blair (or now starmer) in the uk. or indeed many "social democrat" leaders across europe since 1990. they do the same neoliberal politics as the conservaties, because that's the "consensus" of how economics works.
another point is that we have let the rich become too powerful over the last decades. after most of the state's wealth has been privatised, the state has less control over the economy and is more reliant on financal markets for financing. and if the rich investors don't like to see what politics proposes, that can drive borrowing costs through the roof.
@ yes, but if we take a broader look, Hollande followed austerity plans the EU wanted to follow, it didn’t help companies thrive and the GDP took longer to recover than Obama’s spending spree.
This led to higher unemployment and loss of wealth for workers.
But Macron spent on the same principles as Obama did, and it trickled towards the rich even though it saved a lot of people momentarily.
It’s two radically different approaches and every time the little people lose.
Now we’re heading for another austerity plan and massive layoffs and companies defaulting. Meanwhile the stock markets are ATH and the real estate didn’t really go down and is likely to keep going up with lower interest rate.
@@thetakburger7928 austerity never works. all it does is reduce the spending power of ordinary people, which reduces gdp, which blows up the government debt in relation to gdp. if you carry through with it like in greece you get financial stability again but with a MUCH poorer population.
indeed, government spending boosts the economy but because nearly all the assets are owned by the rich, the wealth inevitably ends up there in the end. it works when there is room for good growth in the economy (so that growth is a lot higher than the government deficit and real wages are rising), but we see that this is not possible in mature, advanced economies anymore. in europe we all have growth lower than the deficit. if try to lower the deficit we inevitably slide into a recession.
the only solution i see is a transferral of ownership of the assets to the working people, either directly to the workers at a company or indirectly through the state.
@@tru7hhimself yes but you know how that politically sound, sounds like Maduro's actions and Maduro's consequences.
@@tru7hhimselfI say let it fall. It will come back after a decade or so. We are in to deep for anything to fix the issue in my opinion. A complete default of debt is the only option.
Diagnosing the problem is easy. Knowing how to solve it is another matter
I’ve read a lot of books, but The Secret Doctrine of Wealth is on a whole different level. It’s the kind of knowledge that stays with you forever.
goated book
Total scam, don't even waste your time.
bot?
Capital in the 21st Century by PhD economist Thomas Piketty outlines the issues discussed in this video.
If we want to remain a partial meritocracy rather than the only way to gain significant money being to already have it, then the amount of money, which flows forever upward, that is redistributed back down via taxation, must increase.
@@SigFigNewton Peasant libertarians will then scream “bUt TaXaTiOn Is ThEfT!!!” 🙄
Gary you're smarter than all the mainstream bigwig economists and the only economist i know of whose actually explained in logical manner and addressing the ACTUAL problem. I've liked and subscribed and hope your channel explodes so that these views can become mainstream. All the best!
Great to have you back Gary. Thank you for your continuing insights. You are a shining light among the darkness.
Hit 240k today Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in September 2024
I would really love to know how much work you did put in to get to this stage
I will be forever thankful to you, you changed my life I will continue to speak on your behalf for the world to hear that you saved me from huge financial debt with just a little trade, thank you Jihan Wu you're such a life saver
As a beginner in this, it’s essential for you to have a mentor to keep you accountable. Mr Jihan Wu is also my invest analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my investment decisions align with market dynamics for optimal returns.
Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's
His instructions allowed me to reorganize my retirement plan, resulting in an estimated $700k more by the time I retire.
Hey Gary, loving what you're doing with the channel, keep it up! I do have a question, and you may have covered this in detail in other videos, but I want to understand how exactly the UK Government could successfully impose a wealth tax? Obviously, we have the difficulty of getting them bought into the idea first. But secondly, if you're successful in your campaign, how can the Government implement this and avoid past wealth tax failures due to the wealthy moving assets abroad or finding loopholes? This is a huge administrative task, so I want to understand your views on how we could design a wealth tax that:
- Takes advantage of modern financial technology (AI etc) and international cooperation to better track and assess wealth
- Addresses the specific problem you've identified of the rich getting richer through asset appreciation rather than just income
- Could be implemented gradually enough to avoid triggering massive capital flight but effectively enough to actually reduce inequality
I don’t think he’s really answered this before because there isn’t a good answer. One model which has worked is the Swiss system. You basically get rid of capital gains tax, allow for a lot more deductions from income tax that working people actually need (eg health insurance and childcare) and then tax all wealth above a certain amount at progressive rates. The problem is the U.K. can’t try anything new without the press and the bond markets freaking out and crashing the economy
You need to repeat why inequality is the problem in many different ways, and how, and who will oppose it.
Inequality is mostly self harm and lack of knowledge.
Take 20% of your wage and stick it in the snp500 On a sipp.
And forget about it.
It's a slow burn for the first 7 or so years but keep pushing that snowball and you'll be alot more comfortable in life.
30 years of compound interest will do it's thing.
It's sacrifice on your behalf but that sacrifice rewards you later on.
Overall that line only goes up, and will continue to be propped and pushed up long-term.
It's a capitalist system, play the game.
Sitting on the sidelines, arms crossed and pouting "it's not fair" isn't how the game is played.
Moving to equality will not make up for stupidity, lack of education, no skills, misinformation and general laziness of the majority of the population.
@Christina-g4s That is just nonsense and disrespectful. Do you think people in poverty can afford to save 20% of their income each month? The people using food banks, working 2 jobs just to get by.
@@MRexlit3 I'm on £12.35 and hour That's just over £400 per week wages after tax.
If the government is gonna take 20% of my wages, I'll pay myself 20% of them too.
That leaves £1200 to live on for the month.
£600 on rent and bills, £200 on food.
And £400 to frivolously spend. ( Which I spend half of that)
I easily put 25% aside a month. (£500)
(For most other people transport costs will factor in)
Anyone can be poor, not everyone learns how to be poor.
@Christina-g4s if you can easily put aside £500 a month, then you are not in poverty. Wage doesn’t directly mean poverty. Someone could earn min wage but have no mortgage, live with their parents, have no kids, etc. Meanwhile someone on 50k may have child care costs of 1k a month + 1k mortgage/bills, etc. Costs have spiralled completely out of control. Min wage only gets you by in low cost of living areas, and there’s a reason they’re low cost of living. They have no opportunities. This country has a serious problem of lack of investment and wage growth compared to cost of living. Also, sure saving for 30 years will lift you out of poverty, but that’s assuming you make it 30 years. Imagine struggling all those years just to die before retirement?
Welcome back, Gary! We missed you while you were gone. Hope you had a wonderful vacation. Every word out of your mouth is 100% true, it is incredibly frustrating how so many people can ignore something as obvious as the fact that inequality and endless imperial wars are at the core rot in our diseased kakistocracy.
This is not the time to sit back and watch how wealthy others are or how much money others makes, this is a fresh start for everyone and it’s time we start making advances to our own advantage
Most people get caught with the act of wishing on other peoples lives, how wealthy they are and all without thinking of building their own wealth, investing in yourself should be your major priority and not looking to be someone else
Building your financial strength is what people should focus more on, I’ve always been a fan of investing and earning more money than watching someone else’s life
Absolutely!! There’s no better wish than building yourself into becoming wealthy for other to wish to become who you are, I quickly understood that and I’ve been working in that pace, I work and at the same time invest in both stocks and foreign exchange markets, different communities and all, this has really helped me earn enough money than I could ever earn working for the next 20 years
Isnt this paradox interesting? We blame inequality and yet strive to be on the other end?
Perhaps initially it's all about doing your best and making the most out of it. Eventually you hit it big, buy more assets and behold you are now considered quite wealthy. Another Gary video about wealth inequality arises and now you're on the other fence.
This truly is the rat race.
I’ve always been the kind of person that admires those who are wealthy, please since there’s advice going on what can I do to be wealthy? I work different jobs just to meet up with bills and my day to day living
I agree with your analysis… mostly. But i think you have missed one dimension of the problem. One way for the rich to get richer is to erode the value of labor. This happens by importing cheaper labor, it happens by exporting jobs, it happens through automation, and it will increasingly happen through artificial intelligence.
If importing labour and offshoring weren't plausibly part of the problem, it wouldn't be such an effective scapegoat for those seeking to distract us from the real issue, which of course is wealth inequality. Concentrating on that though is like trying to fix a small hole in the side of the bucket, when the bottom has already fallen out.
After reading book titled The Elite Society's Money Manifestation, I finally understood why so many people struggle with money. It reveals stuff that most people don’t even know about how money really works. Has anyone else read it?
Newcomer to your channel. Live in Seattle but recognizing what you describe and explain is also true for the US. My concern is mostly around the question of arresting the inequality without resort to war or revolution.
Happy New Year 🥳. Thanks for the video
Well done Gary
Good stuff Gary - I was a tadpole in FS and managing money. Had a feeling that something was going pear shaped from all I’ve seen you have the best read! 👍 Good work
thank you !!!!! For all the information you give in SIMPLE TO UNDERSTAND ENGLISH ❤❤
The problem with Oxford economics is they don't look seriously at monetary colonial power and stick with the savings/lender mechanics in banking. So first look at the law and what banks do when they make a loan, they buy a contract to pay back the loan using the double entry book keeping, creating new money in the process to balance the books. The savings stay in the bank. Government do something similar by spending money into the economy and taxing some of it back to avoid inflation, the rest is government debt which may be financed by selling bonds,, which removes some of the money from the rich without hitting them with taxes. Well the rich have all the power, so they force the government to do it this way.
Is there a solution? Yes but that is a direct assault on the rich and they will mobilise every instrument to stop it, so hiding to nothing.
In the end when capital finds it better to live off rents, interest, insurance than making useful things to sell, productivity falls and inequality rises. We are stuck in a loop here and all roads are blocked, except in the east, at least those parts that are not under the control of colonial powers in the form of finance. There are places, free from this model that are getting better steadily mostly in the east despite sanctions and western military bases on their borders. Gary you must read Super Imperialism by Michael Hudson who does a real historic analysis of this system.
I like your intent and respect your insider dealing Knowledge but it's a much deeper problem than you realise. Widen your understanding by reading some of the great Thinkers around today, Hudson, Werner, Keen and others to inform this LSE/ Oxford view and infuse it with reality.
New thinking please, or fail.
@@stevefrith9924 nice comment
Well said.
The recent Nobel prize winners in Economics make it pretty clear that colonial institutions have played a role in wealth extraction and inequality. Often I see that Westerners don't want to acknowledge this, it's not about playing the blame game, it's about diagnosing the illness.
Exactly
Good video Gary, I think my only issue is where you say that the government is clueless when it comes to tackling inequality & the economy. It's actually that any government that gets into power will have been bankrolled by the people who are profiting off this system. We should be calling the system corruption as it is.
Commenting to help youtube algorithms. Thanks for your work! PEOPLE NEED TO WAKE UP!!!!!!!!!!
Completely agree with you on the economics. Government needs to tax the assets which were inflated and have unearned growth.
What stops the asset owners from simply increasing the cost of the goods/services provided by said assets to the consumers to cover the additional taxes?
@@lukemclellan2141 Let's use wealthy individuals as example 1.
1. They used leverage to buy multiple assets such as houses, and have benefitted from unearned inflation. It's immoral. So tax them. If they decide to increase rents so be it. Or implement a rent control.
Same with their stocks which have inflated. Tax them on the unrealised increase. No good/service to pass onto the customer here is there.
Customers not buying their goods and services anymore and going to the small businesses that did not receive the increase in progressive taxes because they own less assets?
And...... Watch all those people leave to UAE, Dubai, Saudi and enjoy their wealth tax free.
It's not going to work, the only people paying tax are those not wealthy enough to relocate.
@Christina-g4s if the assets exist in the UK and cannot be relocated, does it matter where the owner resides?
Gary, I wish personally to thank you for all your hard work, and calling it out for what it is. I live in Australia, and our economy is certainly not a picture of health for everyday people. I try to talk about it with as many people as I possibly can because it’s clear that if people aren’t actively talking about it, and calling it what it is, then what hope is left. I am 35, and am equal parts ashamed and gutted I’ve not yet been able to buy my own home. House prices here are utterly insane.
Thankyou for being a voice in this fight!
I hit $106k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.
It's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Evelyn Vera. for years and highly recommend her I focus on her. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
I would really love to know how much work you did put in to get to this stage.
Wow! wow! please is there any way to reach her services?
I will leave her info below this comment.
+147
Great video Gary. I love the way that despite being a wealthy person, you appear to live a modest life. The fact that your flat isn’t set up to look like a show house, is refreshing. Keep up the good work spreading your message!!# Fairy washing up liquid
Hes loaded dont you worry.. hes just not flash
As soon as I read your comment, I thought is he at a production team members house. ❤him no matter what.
Little things. I suspect he still hasn't truly let go of his obsession with maxing out value of investments, so he's likely reluctant to spend more. Taking 6 months off to go to Japan won't have been cheap, nor is being essentially unemployed aside from the book and like 1 guardian article years ago. There's other little signs like the zojirushi rice cooker but I think he's just never been that much of a material guy. I've not actually managed to read the book yet (lent it to my Dad a while back) but it seems to me that after how he grew up always wanting to be rich, buying himself a flat, buying his sister's house, once he stopped to think he just didn't know what all that money was for.
@@ninjadudeofficial A roof for oneself is a fundamental necessity; the fact that it's becoming an unobtainable 'privilege' is a national disgrace & illustrates the severing of any "Social Contract"
Well I hope Gary spends his money on whatever he likes, especially on relaxing and unwinding.
So happy to see a new video from you! I am learning so much about economy in general from you and I am very grateful.
Kiwi, living in West Africa. Interesting observation. Cost of living for imported items is way up. Cost of living for local food, is only up a little. Living local.
Dakar? you must have quite the story from NZ to the sahel
@@nz3602 That’s just U.S. propaganda. Their budget surplus is 2 trillion a year. This is Chinas century.
@@aswath134 One of the things about living on a remote island 3 hour flight away from the nearest big cities (Australia) is that lots of Kiwis want to get anywhere closer to other countries. They are everywhere lol
@@mapper7310 yes I grew up in what i considered a sleepy town of 400k. I reckon a sleepy town in NZ is probably scores of sheep, a border collie and a family of 4.
Guinea. Been based here since 2020.
So many stories about a life that no many know or understand.
I used to think it was just about buying stocks, but I didn’t realize there are strategies for managing risk and actually making a profit. Now I feel kinda stuck since I’m not seeing any profits in my portfolio. Do you have any recommendations on what I should consider? I’d really appreciate it
It's not just about having money to invest in stocks; it's about knowing the right strategies for profit and managing risk. That's why working with an investment advisor is important-they have insights not available to everyone.
The truth is, the role of an investment advisor can often be overlooked but should never be underestimated. After facing a significant portfolio loss in 2020 during the COVID pandemic while trying to manage my investments on my own, I decided to reach out to an investment advisor. At that time, I had about $126K left in my portfolio. Now, without having to lift a finger, I'm semi-retired, working only 7.5 hours a week, and I'm just 15% short of my $3.5 million retirement goal thanks to my subsequent investments.
This is incredible. Could you recommend who you work with? I really could use some help at this moment.
My CFA is Gabriel alberto william, a renowned figure in his line of work. I recommend researching his credentials further. he has many years of experience and is a valuable resource for anyone looking to navigate the financial market. To be honest, I almost didn't buy the idea of letting someone handle growing my finance or even render financial advices, but so glad I did.
Thank you so much for the suggestion! I really needed it. I looked him up online and explored his website; he has an impressive background.
Excellent Gary! Nice to see you back, you're a bright ray of sunshine in these miserable days!
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.
The FED knows. They aren't committed to attacking inflation. They are going to continue to inflate, stocks and commodities will continue to go up with everything else. You can't just sit on cash waiting for a crash, get your money working for you, start buying in slowly and then gradually increase the pace of buying as the prices continue to drop
In my opinion, now is not the moment to rely on hearsay. Every individual, regardless of their level of experience as an investor, requires guidance at some stage.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Please tell me how can I connect to your advisor. My funds are being murdered by inflation, therefore I'm looking for a more profitable investing strategy to put my portfolio to work.
Do your homework and choose one that has strategies to help your portfolio grow consistently and steadily. ''Lisa Grace Myer” is responsible for the success of my portfolio, and I believe she possesses the qualifications and expertise to meet your goals
I think it’s a mix of not understanding the inequality problem, but maybe more so that most of the people in government ARE the rich and wealthy.
So they either know about the inequality issue and don’t really care since they and their company around them are flourishing in it, or they’re ignorant to it as they don’t experience it in their day to day lives.
Gary, I've watched all of your videos. Really like how you keep on message without choosing a party. It's refreshing to hear anyone calling out the establishment as you have. I hope MPs are watching you too. Could you do a video on a failed council, like Birmingham, explain how a council could bankrupt itself? Did it break only policy or was it worse?
Inequality has always been the problem. Marx and Engels pointed this out nearly 200 years ago. And the solution has always been the same. The people who produce all the wealth (that is economic and social wealth) are the workers. The workers should be the ones who decide how that wealth is used and distributed. However, the workers have allowed themselves to be misled by political entities who claim to know what to do. They don't! Politicians work on behalf of the ruling class to appropriate, accumulate and secure that wealth. It's the oligarchs, the corporations, the bankers and the aristocrats who control the wealth. They steal it from us, the workers! All this talk about interest rates, government debt, GDP, inflation etc, its just smoke and mirrors. You said it yourself Gary; wheres the money gone? When the banks went bust in 2008, why did we (the taxpayers) have to rescue them? Why didn't their own shareholders bail them out? Didn't they have reserves or insurance? And where is all that money now (£400bn+)? The answer is simple; it was a con. And they will do it again, and again until we realise its a con. The whole money system must be controlled by us, the Working Class.
💯
Absolutely spot on, my friend.
Well said.
Good ideas. They just won't work.
People are stupid, greedy, and selfish.
Soviet Union, Cuba, China, Vietnam et al.
All true. But where did the observations from 100+ years ago, start to go wrong?
Ok, Comrade.
Great video, still shocking this isn't covered in mainstream media. Keep up the work!
Main Stream Media is owned by the rich, why would the greedy rich want to inform the poor that the rich getting richer and the poor getting poorer is of their making???
Because The Media is owned basically by the bigs who have their personalized parrots singing the maestros tunes.
Hitting the nail right on the head once again Gary! I hope the huddled masses start to listen and some of the political parties take up the mantle soon!
Can you describe in detail what you mean by, “living standards for ordinary people are still significantly worse”? I see how things are becoming more unaffordable yet all seem to be carrying on as if there are no issues (renters ordering out food, buying cars, etc.)
I love this channel. I think people are finally getting the message on inequality and it is fundamental to fixing everything. If you see the example of how Deng Xiaoping tackled poverty in China; he used the creation of wealth to lift everyone out of poverty. It is a very interesting case study and offers an alternative point of view. Unfortunately the western media distorted reporting of China prevents many people from even looking at their economic model. I am not an apologist for China; I just look beyond the propaganda on both sides to see if solutions exist. Wishing you well for the New Year.
Another case worth looking at is Singapore under Lee Kuan Yews approach to capitalism lifted millions while maintaining social equity. It’s true that biased narratives often block understanding of alternative models.
@Brandon-v2w9o Well said. Yes another very good example. Thank you for adding to the discussion.
@@Brandon-v2w9o singapore with 80% social housing you mean?
@andresgarciacastro1783 If you have a better alternative I’d like to hear it.
@@Brandon-v2w9o It is interesting how Americans are now trying to learn from Singapore's housing model. Clearly the rental system in cities like New York is broken. Individuals complain of sky high rents for accommodation barely fit to live in. I think the Americans are right to consider what works well in other countries and adapt to a model that works very for it's populace.
Thanks for the clarity you bring Gary.
Greetings from Spain!
This inequality issue seems to be affecting the entire Western world. The real challenge, though, is figuring out how to deal with wealthy individuals moving to countries with lower taxes. If they leave, they end up paying no taxes at all in their home country. I find it difficult to wrap my head around this dilemma.
I asked chat GPT for potential solutions:
Potential Solutions
Balanced Tax Policies
Progressive but Competitive: Design tax systems that are progressive (higher earners pay more) but avoid extreme rates that incentivize relocation.
Incentives for Staying: Offer deductions or benefits tied to local investment, philanthropy, or job creation.
Global Tax Coordination
International Agreements: Coordinate with other countries to set minimum tax rates or address tax havens, as seen with the OECD’s global corporate minimum tax proposal.
Wealth Transfer Taxes: Implement cross-border agreements to tax wealth or income that originated in the home country, even after relocation.
Non-Tax Incentives
Quality of Life: Invest in healthcare, education, infrastructure, and public safety to make the country more attractive for high-net-worth individuals and families.
Prestige and Influence: Create opportunities for the wealthy to have a stake in national initiatives, fostering a sense of pride and responsibility toward the country.
Exit Taxes and Citizenship Ties
Exit Taxes: Charge a one-time tax on unrealized capital gains or a portion of net worth when individuals renounce citizenship or leave.
Tax Based on Citizenship: Like the U.S., some countries tax citizens on worldwide income, regardless of residence.
Promote Social Responsibility
Foster a cultural shift where contributing to the welfare of society through taxes is seen as a moral obligation and a source of pride.
How many Corporations pay flip all or zero tax??? Seems a lot and low interest borrowing in US anyway. Seems US people who live elsewhere they have to still.pay tax? Maybe because of US income. I found I had to pay tax wherever the income was derived, existed.
@@carlywright5127 yes, US cittizens pay taxes no matter where they live. I think a massive exit tax could be a solution for all these rich trying to leave. But a international agreement is probably something more important. I am not sure what's the best solution but is not easy.
@@matc956 reply appreciated. 💪
@@matc956 never fear. Gary has a video on why the super rich are actually the most taxable. High Income people can move, but the very wealthy with all the assets cannot. So you tax at source.
@gary. Soooooo nice to see you are back!!! Thank you!!!
Gary, get Mick Lynch (trade unionist) onside. He is a rock of sense
There is an urgent need for grassroots collaboration right across the UK, mobilising millions of ordinary towards a common goal overturning the basic ownership and operational model of our common assets
Definitely!
I think Corbyn is recognising this, but I hope his group of independents realise they're much more powerful if they work with the greens when appropriate.
@@ninjadudeofficial The greens couldn't run a bath.
Mick Lynch for sure
Keep spreading the good word! Wishing your channel all the success.
Gary,
You have nailed what the problem is. But, the fix is not to tax the rich, or at least not just that. We all need to take agency for our own future, instead of throwing hands in the air and waiting for our betters to fix it. Nobody is coming. We need to take production back, take ownership back, and shift how we think about work and production. The easiest way to do that is through starting small business that actually make real things, not just intellectual product and hire locally to do it. And spending locally. The rich need to buy stuff too, that stuff needs to come from the middle as fast as possible.
Tell me why either poor or rich people would actively chose to be expensive items produced in the UK rather than cheap items from China.
Production gravitates to the cheapest stable producer. For 'simple' items that's India, Pakistan, Vietnam etc. For more complex China.
Next will be production moving to Africa to Oxford. The Chinese know this hence they're upskilling they production base and now seeking to produce their own products rather than supplying to Western companies to slap a sticker on it.
@ Will it happen the way you say, most probably. But nevertheless, that shift I speak of is what is required to make the financial game circular once again.
You have to ask yourself, how was the middle class built to begin with? Well, most of it was built on de-centralized production.
Whether that product was a mined material, an agricultural good, or a function/service done to those, the task was performed at a more local level, and the rewards spent more local. Fact is, wealth returns to the source of the goods. Just like electricity does.
Don’t make anything?
Then expect nothing.
Where is the middle class development today?
China, India, Pakistan, Mexico, etc…
Why? Cause they are the sources of the goods. Im not telling you to buy more goods, Im telling you to make them, mine them, etc…
Either way you have a serious sales problem.
Sell everyone on the idea of taxing the rich in hopes that the same rich people in the government will share with the poor, or you sell them on the truth. The truth that they can continue to buy the ropes used to hang themselves or rebuild the production that pulled them out of perdition in the 1st place.
Gary I’ve been a listener since your first Novara downstream, read your book and loved it. I reckon getting this out there on the TV networks is a great next step, I’ve heard from the Novara lot that it’s a bit of a brutal, and at times, unfair gig. But your message is one that will really resonate with people and I think you’d do really well getting out there on those political panels/talk shows, you have the credentials and the message!
Yes but they either don't understand the process because it is above them or don't want to.
He's growing fast!! The message Will get there!!
I really love your channel Gary. I grew up in a council estate in Poplar. And I am now studying Political Economy at a Russell Group. Your videos are eye opening.
Every year is the same. Rich keep getting richer, everyone else is paying for it.
Yes but there’s always religion for many of the poor.
Or of course gambling or drinking or sleeping around.
As long as you’ve got enough for a pie and a pint life is good.
Health inequalities are intrinsically linked to wealth inequalities and is another topic that doesn’t get any attention from the mainstream media. Your postcode shouldn’t determine the chances you have to live a healthy and fulfilled life but sadly it’s true. Micheal Marmot has published multiple research papers on this - it would be great to hear your opinions on the topic Gary!
Thanks Gary. So glad you’re back!
Just joined the Patreon - let's go!
Some economists are worried that the policies of Trump 2.0 will prove to be inflationary. My question is, does the economy really determine the stock market? I still see booming performances and curious how to go about investing for my eventual retirement.
It kinda does. There are cycles and we are due for a crash to snap things back in line with reality. Ideally, investors find help utilizing the service of an advisor to avoid irrational behaviour in face of volatility and uncertainty.
The market is based on reality yet I don't see the reality. I'm in line with using an advisor, saves me the time and hassle of picking the right stocks. Thankfully, I'll be entering into the new year with another 60% annual return, just about 10% shy of $1m in barely 5 years.
a booming stock market does not always mean we’re in a booming economy and when you see this disconnect between the real world and wall street.... things have a way of snaping back inline. By the way, your advisor must be grade A, cheers!
Zareen Grace Church is the licensed FA I use. I've stuck with her since the covid-outbreak, and her performance has been consistently impressive. She’s quite reputable in her field with over two decades of experience, so I guess she's one of the best out there.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Just read your book Gary. It blew me away. I took a literature degree in 1978 and I've read quite a lot of books. I've never enjoyed one like I enjoyed yours. I both laughed and cried from the deepest part of my soul. I never wanted it to end. It is an absolute inspiration. We need the whole world to read it. Let us all keep focusing on the clear and simple message of taxing the rich. Let us keep thinking of how we can spread the word further. Let us be prepared for the shit they will throw at us if we ever get anywhere near changing this rotten system that brings out the worst of humanity and is quite obviously leading us all to hell. Thanks, you are a great human being.
We love you Gary. Keep up against everyone. Greetings from Berlin. 😊
I think I saw you in the bergein basement
@gossipmongersaunt774 Yes, but I didnt see you 😭. Its dark inside a darkroom. 👻
You sir are painting a bull's eye on your back for sure. I suggest that you double down on your investments to generate funds to pay for some private security because the stuff you're saying is resonating with the masses and I'm sure the establishment is not happy about that.
Keep up the good work and keep safe brother. ✊🏾 Power to the people!
the rich won't give one crap about what he's saying.
because he's not talking about rentier activity, and therefore has no specific plans to actually hurt rentiers.
lol
Brilliant educator and inspirational speaker ❤ up the Os 😊
Successful people don't become that way overnight. What most people see as a glance of wealth, a great career, and purpose is the result of hard work and hustle over time. I pray that anyone who is reading this will be successful in life. ❤
I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..
imagine investing in Btcoin earlier.... You could have been a multi millionaire precently
I’m looking for something I can venture into on a short term basis, I have $15k sitting in my savings
You’re right but a lot of people remain poor due to ignorance
Not because of ignorance, it’s because of the high rate of unprofessionalism in the cypto market
Hi Gary,
I wanted to mention that you can create an e-petition in the UK to raise awareness and generate support for your views. If the petition gets 100,000 signatures, it can be considered by the UK Parliament. This could be an effective way to get your message out there and put pressure on lawmakers.
I hope this helps, and I look forward to seeing what you do next!
Best regards,
Dave
I was thinking that would be a good idea
This is a really good idea!
Gary, could you do a video explaining purchasing power? Also, keep up the good work, this is my new favorite channel 👍
Always enjoy listening to your views on economics Gary. In the last year Gold was up 28%, NASDAQ 31%, S&P 500 33% and Rigetti (quantum computing stock) 1929%. Stocks are risky so I would put 90% in safer index trackers and 10% in stocks. Anyone can open a Trading 212 account and invest in these, it's just down to financially educating people. Property has been flat for the last 2 years and the rich are probably being put off investing in UK BTL property because Stamp Duty is so high. There are also too many regulations for landlords in the UK these days so it is probably easier for the rich to invest in the financial markets. Wrote to my last Tory MP about wealth inequality and taxing assets and she said everything is fine as it is. I have now asked my current New Labour MP about taxing the assets of the rich and offshore trusts - I'm not expecting much as I thing all UK parties (including Reform UK) are in the payroll of the rich. So it's probably best to try and join them (rich) rather than beat them I.E Keep your costs down and invest in income producing assets. Why don't they teach this at school I wonder?
212 they want your inside leg measurement and bra size
I told my 5 year old that we have a problem of too much money in the hands of some and not enough in the hands of others…
You know what she said? She said we should take some from those who have and give it to those who don’t.
I said wow, you’re just as smart as Gary’s economics, but you don’t act like a genius Poundland prophet.
You've raised a Commie.
Gary, in 3-4 years when the time comes I’m voting for you. Truly believe you are what this country needs else its all going to fall apart all the best with the massive challenges ahead
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@Jasperchurchill Right, the role of adisors can only be overlooked but not denied. I got financially free at the age of 49 with over $1.6m in investment account alone. I was shocked that I made more money with money than with hard work, even my CEO income. Earning "return on investment" makes me more happy. (But I still enjoy working)
Right, the role of adisors can only be overlooked but not denied. I got financially free at the age of 49 with over $1.6m in investment account alone. I was shocked that I made more money with money than with hard work, even my CEO income. Earning "return on investment" makes me more happy. (But I still enjoy working)
Right, the role of adisors can only be overlooked but not denied. I got financially free at the age of 49 with over $1.6m in !nvestment account alone. I was shocked that I made more money with money than with hard work, even my C E O income. Earning "return on investment" makes me more happy. (But I still enjoy working)
In at 2 mins. Another banger, Gary!
Gold and stock prices have rocketed. House prices stalled. One ETF launch wiped the floor with all of it, smashing all records. Any guesses what that was?
Alright, I’ve been saving like a squirrel on caffeine and finally hit $87k in my emergency fund. Now I’m itching to dive into investing, but this economy has me side-eyeing every move like it owes me money. Anyone else out here trying to turn savings into actual wealth without feeling like you’re playing roulette?
$87k? Nice cushion! But hey, don’t jump in blindfolded. A financial advisor helped me sort through the chaos and pick smart investments tailored to my goals. Maybe consider getting one to save yourself the trial-and-error stress.
I’ve been thinking about getting an advisor, but honestly, I’m clueless about where to find someone trustworthy. Any tips on how to get started? It feels like there’s a sea of options, but none I’m confident in.
There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with “Linda Aretha Reeves” for some years now, and her performance has been consistently impressive. She’s known in her field, look her up.
I looked her up, and she honestly seems like exactly what I need to get on track with my financial goals. Appreciate the recommendation!
I remember watching Linda Aretha Reeves speak at a Bloomberg Finance Summit a few years back-her presentation was phenomenal! She really knows her stuff, and it’s no surprise she’s well-regarded.
The CANTILLON EFFECT just keeps getting worse!!! Life will become intolerable for everyone who is most peripheral from the hub of money creation.
uneducated economist represent!
Are you suggesting you can keep debasing the currency and all will be fine? 🤔@edubmf
The Cantillion effect is just the way of things. Look at the last 10 years and the rise of Bitcoin. It's all there for anyone to understand. It provides a ladder and a life-raft, but the masses don't take the opportunity, and now that window is almost closed, and in ten more years people will complain that they have been priced out, even though they were there when the opportunity was staring them in the face.
@@random.mandem Yes, 100% However, this only augments Gary's argument for taxation of the rich.