Understand the Economy Part 1: What is wealth?
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- Опубліковано 11 вер 2024
- Introducing my new course on economics: PART 1 What is Wealth?
Link to the original "What is Wealth?" video:
• Wealth: what it is & h...
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Performed by Gary Stevenson
@garyseconomics
Hello Gary, if you want to better communicate these new courses, I suggest putting it on the title of the video, like "Basics Of Economics Ep1". That way, if someone comes across a video titled "Ep10" will instantly understand that there are 9 other videos before that. Keep up the good work! Cheers
I agree, and even with what is in video. This one could be episode 1: what is wealth?
And make a playlist or some kind of grouping that you can go to.
@@AWildBardbrilliant idea
Plus sticking them in a playlist.
I'd use Ep 01
this young man is such a credit to his generation.
he full of shit i would destroy him in a live debate ?? he never owned a business or his parents to understand business ! one thing revenue not profit it costs pushed up by government yearly
Gary comes from a poor working class background and raised to the top of his trade thanks to social mobility. We no longer have the same level of social mobility where working class bring new perspectives in a range of fields especially in industries that deal with information. But yes Gary is amazing voice of the generation. But imagine if there were more people like him. Academia, news, politics, financial sector is locked behind a pay wall for most kids from underprivileged backgrounds. Even labour, wich was traditionally supposed to be the party of the working people, is full of privileged politicians with poor grasp on reality. It’s sad really.
💯
@@basiaszendrei1603 About a year ago I did a"thing" - I looked up the backgrounds, the school and higher education of every podcaster I listened to. This was about 40 people.
100% Went to a PRIVATE SCOOL and then OXFORD. Not a majority, not most, bit 100.000%. Even Al Murry "the pub landlord" with his WW2 history podcast. Yep the accent is contrived he went ot a very very expensive school and Oxford.
Ive since added some more and I now have ONE - Mark Steel - who didnt go to private school and Oxford.
Then who's in debt?
Terrific idea Gary. I'm financially illiterate but have learnt so much from your videos
I think that’s a great thing, that everyone who doesn’t really understand how things work in the world need to listen to him.
Same, really says alot about schooling that this vital topic is ignored completely
@@asweeney101 the topic is ignored completely by everyone, in politics
its cause of the overton window, search "wealth inequality" in wikipedia,
in the Ytube search bar. the poor/middleclass have no idea, they just
think that if a path to being wealthy remains open then their "above"
average decendants will be rich someday. It isn't just a coincidence
that as the rich get richer the poor get poorer. its by design.
When I did economics at A level many, many years ago I never encountered a teacher who articulated the basic concepts with your clarity. They aren’t difficult to grasp, and if everyone with a vote understood them the world would be a very different place.
Yep, keeping the masses from understanding how simple economics could
be is why the world is the way it is. Gary's just trying to help the poor/middleclass
in the UK and good on him ! Another Brit from the same uni as him is trying
to apply economics to save all people and the earth to boot !! That's Kate
Raworth and Doughnut Economics. And she is completely ignored by
mainstream economists. Robert Reich has some good videos, but all his
solutions are Voting for Democrats will solve it, Yeah Right !
We’re with you Gary mate. I’m promoting you, your book and your channel to everyone both here in Adelaide Australia and UK. I’ve even purchased two of your books and donated them to a public library in Adelaide. It would be great if sometime in the future if you can write a book on the different parts of economics, wealth and effects to society. Keep strong.
Same here in The Netherlands!
Gary didn't mention land. His emphasis was on capital goods and finance.
Aussie here as well. Nobody, except Alan Kohler, makes any attempt to truthfully explain economics to Australians.
If you want a good read, may I recommend 'The Crash of 1929' by JK Galbraith. Written in the 40s or 50s, it explains the reasons for the crash that caused the great depression, in about 120 or so pages, written with great wit and complete clarity. Galbraith, like Gary here, used economics to explain the realities he saw.... he did not fall in love with theories and bend or ignore reality to fit them. One of Galbraith's great themes (he was a giant of postwar US economics) was the way the wealthy constantly pretended that our societies were doomed if they were to be taxed or regulated.
Another great video Gary. Doing amazing work. 👍
Same in Melbourne!
This is something everyone needs to learn, especially someone like me earning a modest income and don’t understand the basics about finance. Thank you, can’t wait for lesson 2.
This sort of information is what should be part of the compulsory curriculum in state schools. You can be damned sure the private schools the rich send there children too, are teaching those kids about wealth, economics, banking, interest rates etc etc. Schools are the ultimate tool of social engineering, and the UK government ensures most kids are taught only enough to be useful but not enough to be a danger to the status quo.
Great to listen financially makes sense
This is quite educational.we should all endeavour to educate the new generation about wealth and its management. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.
These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If you’re not ready for it, you shouldn’t be in the market. or get you a skilled practitioner.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
Who is this person guiding you and how can i reach he/she?
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Amber Dawn Brummit" I've worked with her for 9 years and highly recommend her. Check if she meets your criteria.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
FANTASTIC video. This needs to be part of the school curriculum.
Thankyou for plugging away Gary, we appreciate what you do and want you to go on. It seems a little thankless but maybe that's because it's *not* revolutionary, it's just sensible and we need sensible more than we tend to want it.
Ultimately, wealth is a form of power, the ability to command the time of others
Plus ownership of the assets where folk live and work
@@lynnoorman2144 Indeed. But this can ultimately also be seen as concerning the control of their time. In the end, this is what makes them assets.
📚📈 As a single dad of 2 teenagers these videos will be so useful, great idea Gary. We need to help & teach the young in order to bring change for them and their children in the future.
Thank you for all your hard work Gary. 👍🏻
Is not only about learning the economics. I am a man of the simple pleasures, ( ordinary person ) your chanel is about to rise the awareness. , also to start me thinking whatever we do is useless, , unless we do it together. Together to ourselves, to our children. In order to do it together, we have to think as ONE, there is no I in the TEAM.
Its so refreshing to have people teaching real economics in an accessible way. When I took econimics A-level I couldnt stand that it was taught as an exact science 'Do A and B happens' and I was berated for raising that it was bullshit, I dropped out and years on learn economics from guys like you who have an actual grasp on what is going on
'The dismal science' and all that!
Understanding this in my early 20s was life changing. Money can buy assets and assets can generate income. So the more money you have the more income you get, without working for it. Now 10 years later in my early 30s I'm living off dividends and don't work anymore.
Nice one. My son is 24 and works hard, he's started following Gary and hope he reads your comment 😊
You do realise that he wants to tax your income from wealth?
What is your networth
@@drwilliamlarge he doesn't. He's concerned with wealth distribution. Listen more carefully or you'll fail Gary's MOOC 😉
@@drwilliamlarge No, he's targeting only obscenely wealthy people with like 50 million or higher net worth. He's addressed this multiple times. Gary himself is living off wealth 😁
Bruv is 4 am EST and it's time to learn. Eco 101. Day one, I'm here for it.
Now its 4am Central and here I am XD
I often get the comments of 'nobody lives in poverty in this country' and we are all MUCH better off than in the '50's'etc. Then I point out we are all living in debt. Unless you are getting your private pension and have paid off your mortgage etc then everything you have is owned by somebody else. Mortgage, rent, credit cards, finance deals, food, holidays:-it's all debt! Like you say Gary the real wealth is enormous and its controlled by the super rich and the income they gain from this always goes in one direction. Great vids, keep up the great work.
Go to India and Brazil to see real poverty. In the UK there is free education, free healthcare, free dental for kids, social benefits, subsidised housing, free breakfast clubs for kids, even free paupers' graves etc etc. In India, you are conceived on the street, born on the street, live on the street, die on the street then burnt and thrown into the Ganges.
If you think Credit cards, finance deals are normal - you will always be poorer. Learn to live frugally, save, invest. When you are debt free, you stand a chance (not including a mortgage ). So many youngsters have expensive phones, laptops, watches, fashion - not of which is essential, then complain they can’t find a deposit for a house.
@@wl660 think your missing the point mate. this video isn't about managing personal wealth: its about the rich bastards robbing us blind and how govt.'s facilitate this.
The whole "we are all much better off than back in the day" rhetoric is so dumb. As if any progress at all means we're doing good.
It's like holding up traffic by going 5mph on a motorway, then accelerating to 30mph and going "see? It's much better than before" 😂
This guy is awesome. He has an edge too. I think it’s fascinating to listen to someone like this about economics. His delivery, story telling and analogies are easy to follow.
One thing people don't understand that you don't "spend" or "make" money you "send" and "receive" money, it's always just a transfer of wealth and the terms "spend" and "make" money have distorted people's views on how money works
Not true, you make money because money only has value because it’s backed up by real things and services.
@@crown9413 i struggle to understand - sorry i dont study economics, but if money only has value by being backed up - how does it link to the concept being not true?
@@crown9413 You receive it from somebody who sends it to you for that value you provide and you have earnt it but money is only truly "made" when a government bank prints it
You're all basically correct.. but it's the control of that money system that distorts the spread of wealth..
Private entities printing our money always ends up being corrupted as has been repeated time and again.
We pay out tax interest to that debt and print.
In order to solve this we need an incorruptible money system or at least a secure store of wealth that beats inflation.
And we have this.
Gary doesn't seem to understand this basic concept which is concerning...
@rickknight3823 "an incorruptible money system that's also a secure store of wealth that beats inflation." Yes, we have this and it's available to everyone with a smartphone.
Thank Satoshi for #bitcoin.
we need more direct democracy my friend, only then we can close the wealth gap. please 🙏 push for direct democracy and build awareness. your humble friend from turkey 🇹🇷 I am doing the same here
Direct democracy. Two wolves and a sheep voting for what to eat for dinner.
Do you guys see how no party is mentioning direct democracy? They know, it will be their death ☠️
I do that: go back to the beginning. Say I discover an interesting channel: I usually go to the earliest videos and work my way to the present to see how it's evolved and for the continuity, otherwise it feels like I've started in the middle which isn't satisfying. Thanks Gary, I have watched all your videos from the beginning, it's nice to get a refresher.
I can complete this description.
Wealth is what you desire.
Do you want to be healthy? then it is a wealth. Do you want to be safe? then it is a wealth. Do you want good future prospects for your children? then it is a wealth.
A 100 euro note only has value if there is someone who will exchange it for something else. Same for 1 kilo of gold.
Then there is the material, exchangeable wealth that Gary just talked about, and obviously as humans we all want more or less the same things.
finally someone that understands WEALTH.
Brilliant. Amazing idea to put a full economics course playlist together Gary. Appreciate your work 🙏
This is by far my favorite channel at the moment. Thanks Gary!
gary ........ one of the most important channels i consume out of the internet for sure is yours. keep doing all the work bic things are going out of control around the globe.
i wish your videos were published 3 times a week. cause there is alot to understand. at least for us ordinary ppl.
I remember seeing an article about how the British aristocracy own an insane proportion of the land. Something like 1% of the people owning 70% of the land.
And that it came out because some Lord insisted that the aristocracy didn't really own that much and made the government investigate how much they did own, and it backfired as it was even more than they expected.
It's feudalsim, really. In New Mexico and Arizona, the US government recognized Spanish land grants when they seized these territories from Mexico, probably to stave off popular revolts. This land was originally claimed by the Spanish crown - disenheriting natives who'd lived on it for 20,000 years. This land is still in the possession of the decendants of those same families favored with land grants by some Spanish King or other. Most of these folks are poor now, and since "their land" cannot be sold but only passed down generations as a kind of common, too poor to move off of it.
Not really aristocracy these days, but the richest 1% own most of the land. The royal family and the Duke of Westminster have large holdings, but many of the other large holders are not aristocratic.
Great idea, Gary. Super necessary to understand economics and your ideas in a progressive, easy-to-work-through way. And it will make it easier for us to point people to your new course playlist to find out more.
Cheers Gary. Great content, some minor feedback to consider : maybe some graphics for visual learners as you cover a lot of points usually so will help to give context ❤
Big thanks Gary! I really like the way you break concepts down, make a good argument. I enjoy it and learn a little something! Big thanks man
Great video. I love watching your videos on a Sunday morning. Keep up the good work!
For those of us who are interested in politics but have never studied economics, this channel is fantastic. Keep up the good work.
The course sounds like a great idea 🙂
I think one of the biggest problems we have is that we don't see the owners of loans, we assume it's the bank or the company and so don't associate it to wealthy people. Can this be exposed? I assume it's not actually possible for me to ever know, who owns my debt, who am I really paying?
Not really right now, because your loan is literally a drop in the ocean in the current global debt based economy. Gary is simplifying a massive, mostly hidden financial mechanism, which is the creation of credit by banks and non-bank financial institutions. The scale is such that it is bigger than any national economy, and it's not controlled by any government. It's controlled by the banks and non-bank financial institutions, and therefore controlled by those who own these, who in turn use their wealth to directly and indirectly influence national governments, and to buy assets everywhere. Assets are true wealth, and debt is the major asset class in every economy. Why?
Debt is the major mechanism of creating money. Approximately, over 90% of all money created is credit from loans made by banks and non-bank financial institutions. This money creation goes on in every financial centre 24 hours a day, 365 days a week. And a lot of it is done in offshore financial centres that are not regulated by governments. The bit of the financial system that is regulated by government is the tip of the iceberg. Your loan comes from that tip, but the money created to provide you with your loan originated much further down below, and is very difficult to trace where it came. Your loan is the end of a chain of loans as Financial institutions borrow and lend to each other. Big systemically important investment banks/NBFIs to commercial ones to retail ones, etc. And billions are moved around, all out of sight of the public. They also lend to governments and multinational corporations too. That where most of our money comes into existence. And most of the largest owners use offshore banks and shell corporations and blind trusts in tax havens to hide their ownership. Yes, you can track shareholdings in the visible tip of the iceberg. Those are the financial institutions that interface with the public, but not the rest. As tax havens exist to hide ownership of assets held in them. (And a major driver of Brexit was the threat posed by the EU's Anti-tax evasion Directive to Britain's major share of the global tax haven business. (Watch Britain’s Second Empire here on UA-cam for a still relevant explanation.)
What Gary is proposing is to tax the visible bit of wealth. That is big enough already to make that affordable for the wealthy to pay that. It won't touch the rest, but at least living standards can be maintained for those who rely on a job for a living.
That's a great point. Probably 99% of people don't know how money functions and where it accumulates. What about a computer model game of an economy? Wouldn't it be possible to illustrate and help demystify how policy changes to 'the rules' effect the flow and distribution of wealth. A sceptic might suggest this is easily possible, but not in the interests of the 1% who work very hard playing smoke and mirrors!
@@andrewcrawford1003 I'm a software engineer, I possibly could make this game. If anyone seriously wants to gamify this concept feel free to reach out
@@andrewcrawford1003 Interesting idea! I think the main challenge would be finding the right assumptions inside this system that best reflect reality. People with different perspectives will always challenge different assumptions, in the same way the field of economics has different conflicting theories, which makes it difficult to draw exact conclusions about cause and effect in the system. Nonetheless it would be a super interesting experiment!
Apart from the mortgage, why whould you take on debt? If you are taking mortgage with the bank, then bank owns the your debt, they may sell that as a security to other financial institutions or investors, but usually that will stay with the bank. About 70% of the money to fund mortgage comes from regular deposits; around 15% from interbank lending; around 10% from central bank loans and then bonds and securitization. The bank is owned by combination of institutional investors (Pension funds - majority; mutual funds, other investment firms), Retail Investors (no more than 10% usually of a typical bank) and lastly government. If you have money in the bank, it is very likely they will use that money to lend it to others, and you will get interest, since regular people don't often have much, they will receive little interest or If you have bank shares, the bank will pay you divident or not.
Good to see you again, appreciate your content.
This is a really good idea! Something I can easily follow along
Good Morning , your looking well Gary, what a grand idea Thank you looking forward to learning with you xx
Yeh, I thought he looked well too 😊
I am a (relatively) young man from Brazil, and i am very happy to find your content.
I could say a lot of things, but I really wanted to thank you for giving me and everyone a glimpse of your life experience.
Your shares are helping me build a better understanding of our current time.
Justed wanted to say thank’s.
GREAT! Thank you for doing all this Gary =)
The US economy is currently facing high inflation and currency devaluation concerns.
Given the uncertainties, it might be wise to allocate a portion to safer options like bonds or fixed income securities
But don't forget about growth potential. You'll want to balance safety with opportunities for higher returns, maybe through a mix of stocks and real estate
The problem is that people don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging condition
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful
With prices seemingly going up on everything, I'm not sure how to protect my finances
One of the things I am interested in is Motivation (Why??) - that is, why are people motivated to continue hording wealth once they are past the point where they have so much money they + their family could never spend it.
Suppose you have "earnt" (??) £100 million. WHY do you need to keep going and gather more and more to £100 billion??
My ideas / thoughts - a) habit, b) bragging rights, c) they have built a money machine and it never stops
Good question!
* had earned - maybe?
Addiction and fear. It's amazing how extra money engenders fear of loss.
Good point. I think all of your options are key factors. There is an excellent video on YT of Gary giving a presentation at a Cambridge Univesity College where he explains his inner thoughts and why he quit trading after making a few million. Essentially, his quest for more money was making him ill.
I believe many of the people who make 10s or 100s millions become obsessed with power, and large amounts of wealth does buy power.
I agree that for some, it will just be a habit, and like many habits, it becomes an addiction. Addiction isn't driven by rational behaviour. It is irrational and a form of illness.
I have a similar background to Gary, i.e., poor, and I made what seems like a lot of money to me, not as much as Gary, but a lot. I realised that continuing to make more money was bad for my health and my family so I've learned to live a simple, comfortable life and I feel much healthier as a result.
I'd like to reverse what has happened to society over the past 50 or so years so that people who start out like Gary and me have a chance of a good quality of life whilst being a law abiding decent person who cares about the world and not just themselves. I realise this is very difficult but we must try otherwise things will get much much worse.
Humans have a large capacity to be selfish and evil, we must work hard to prevent those aspects of behaviour from becoming dominant. At the moment we're losing the battle.
Superiority, power,freedom and influence all provided by genuine wealth.
So in order to maintain these crucial aspects, the focus on increasing the wealth to do so becomes paramount.
It’s not really greed. They can’t help but get richer with no effort. If you have a £100 million and get a safe return of 5% that equals £5 million per year for doing nothing.
After you have everything you could want £5million becomes hard to spend.
I’ve learnt more from Gary then from anywhere else in over 40 years!
Hello from morocco . I loved your idea to create an "one playlist" thing ,good luck .
A video course is a fantastic idea!
I was thinking it would be great to have an economics textbook covering this, but a video course is more accessible.
I would buy a textbook too!
This is a brilliant idea. Thank you Gary, please keep them coming.
Amazing idea Gary, this will something I can share with people so they can see the system we live within much easier than pub chats!!
The online course is a great idea. Have you thought about having this video’s title or thumbnail include something like “Wealth 101” to help make it clear to people it’s a staring point and part of a series? 🤔
Exactly. without a naming system, some special graphics or playlist, they're just going to get lost in a sea of similar videos.
Great idea, Gary as there are plenty of people in this country who have no understanding of economy. No surprise so many are drowning in debt.
Having just done a Master of Political Economy, I was watching with a critical eye. And... nothing wrong here, in fact very well explained. I eagerly await your explanation of government debt (it's private wealth!). Then, bank credit creation and how it back-fills government cuts - until everyone is in hock and the whole thing busts. I can easily write a 6000-word paper about this, but you have the communication skills to cut through the mainstream media bullshit. That's what keeps me watching.
*Amazing video, you work for 4Oyrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires.*
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Michael Wayne, has been an amazing experience.
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down🤦🏽of myself because of low finance but I still believe in God
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mr Michael Wayne
Good day all👍🏻from Australia 🇦🇺 I have read a lot of posts that people are very happy with the financial guidance he is giving them! What way can I get to him exactly ?.
Such information we don't get from most UA-camrs, how can I get to him. ?
Thank you for creating this series. I guess this will be a new playlist on you channel. Can't wait to view more :)
Excellent lesson clearly communicated. Keep it up Gary.
Wealth is a store of energy, your energy, There are 4 tiers above RE and CRE... and only the tip holds real significance.
Gary, loving your stuff man. Explaining this massive concept in such simple terms literally changes people’s view of the world. More strength to you.
Brilliant, I have been educated in economics by you
Thanks Gary whatever happens into the future politically or economically you are an absolute legend
Hit 200k today. Amelia Jason 🇺🇸Thank you for all the knowledge and nuggets you had thrown my way over the last months.
Started with 14k in last months of 2023.
Thanks for keeping it light and real at the same time.
Much needed for us traders in times like these!
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors this Amelia Jason is she one?
Building a good investment portfolio is more complex so I would want you to recommend Amelia Jason my portfolio is draining there is no harm in trying ..
It surprising mrs Amelia Jason is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely .
she's on Telegrams mostly, using the username.
Wealth is people making the goods and delivering the services that we need and want. Plus, of course, the necessary natural resources.
Exactly. The more you produce, the more wealthy. It's amazing how propaganda has many people blind to common sense
I do have a suggestions and I wish more channels did this:
please create a playlist of all of your videos in chronological order from beginning to now. I love queueing that up and letting it play.
A lot of channels think they're doing this by creating a playlist of all their videos but it ends up being in reverse order with their most current one at the top and you're watching backwards in time.
It works so much better when the first video in the playlist is the oldest.
There isn't currently a way for the user to do this. Unless they have UA-cam premium and go through one by one adding all of the videos oldest to newest so they automatically play (and then famously UA-cam will delete your queue and you'll have to start again). So it's so much better when video creators create the playlist for us in chronological order.
Please consider doing this. For our sanity
Great comment, thanks for suggesting. I hope Gary takes it up.
@Rachaelshaw7 I have normal UA-cam and you can already sort the videos from the oldest under the 'Videos' tab next to the 'Home' tab. The options are: popular, latest and oldest.
If you click "videos" on a YT channel, then click "oldest" you should get what you're looking for 👍
To be honest spent my whole life in south norwood had no idea there were people earning so much money until i got an admin job in canary wharf. This series will be super handy thankyou!
The most important concept is that wealth includes ownership of where we all work - so most people do not own these workplaces and we therefore have to work for those who do. In doing so, we make them more money through our labour power, which means that they can buy more places in which to force us to work for them, and round and round it goes.
So we don't just make them rich by borrowing from them or paying them rent, we make them rich by WORKING for them.
I'm not sure I agree with this. Companies selling goods and services. Them owning buildings used to be a necessity to have somewhere to make/provide these goods and services, and sometimes to sell them too. Sometimes it still is a necessity, but increasingly less so for certain services. A building is essentially another overhead for a company
Great stuff Gary keep up the good work.
Fabulous content, Gary. Important for people to understand these things
I grew up down the road from, you in Dagenham. You are a credit to society and a role model for the average Joe!
In 5 years time hopefully we will be much nearer to proportional representation + the entire series of your videos and an educated public soley due to YOUR efforts and videos/books so that we know how to put the wealth gap into REVERSE.
5 yrs time green will be in power and uk more fucked lefty
This video (and series) is specially created for me😂. I discovered this channel a week ago and since then I’m all over the place trying to grasp as much information as I can from all this content on the channel. This is invaluable quality and information. Thanks a lot mate for doing this!
Great idea to link the videos , fantastic work mate
As discussing economics, adding data points to the claims, infographics would be great. I saw an infographic about the grid, and it shows clearly that we loose 67% of the energy as heat. Something similar for the transfer of wealth would be amazing to see. Assuming this is an educational video. Thanks Gary.
Excellent Course
Gary I just want to say I heard about you and your book through the Business Insider documentary and just have to say honestly thank you so much for what you do. This perspective has been so refreshing and invaluable in understanding our world and how to move forward.
All I ask is to never stop releasing information. Whether it be UA-cam, Substack, Medium, etc just please don’t stop
Hi Gary, thank you so ever much for all the information you're putting out there x It is incredibly useful for someone like me who studied business and economics over a decade ago back in Europe. I can't believe I found you! 🤩 thank you again, and all the best 🤍
Brilliant 👏👏 much needed as the system depends so heavily on ordinary people not understanding this
I intend to watch everything. I love your idea of an online course. Thank you for your contributions, they are much appreciated.
This is why Thomas Piketty should be required reading in schools ❤
I’ve been listening to you from day one, I’ve took in everything you have ever said & told friends & family to tune into you. Great you’re addressing this as it helps the new audience get to grips with topics you’ve discussed. Hopefully we can come together for change to help everyone. ❤🙏
Svaka čast, hvala za poduku
It's good to have someone who can reach the "common folk" I saw his interview and liked the fact he was concerned about doing something about inequality.
Cheers Gaz!! The course does sound like a good idea.
For me this is the clearest communication I've seen on a channel already filled with clear communication. This series is a great idea.
There is a big difference in wealth generation between the US and the UK! In the US the main object is to move people from the working class to the middle class by using tax breaks! In the UK the government seems content to keep people working class their whole lives!
America has far higher levels of inequality than the UK and the UK is heading the same way due to the obsession with neo liberal economics. The top 1% of Americans have more wealth than the bottom 50%. Far worse than the UK. Seems the tax breaks are working to such to great effect 😂
Youre told the tax breaks are to get the working class up into the middle class, but the tax breaks often benefit the rich far more than any other group....
The US is very unequal and there is more downward than upward mobility, as bad or worse than other wealthy countries
@@Ste-The-Leo The idea is to tax the richer more and give tax breaks to the poor!
Biden has now proposed only increasing tax on people earning over $400,000 per year!
Please crank out a few more of these fairly quickly Gary. You are doing an incredibly important job and it would be most effectively if your audience is very familiar with economics.
Thank you for what you are doing. This is very important work.
Love this, Gary! Thank you 🙏🏻
Thanks Gary. These types of videos explaining basic economic concepts are SO important if we are to build up a collective conscience of the system that faces us. Thanks mate! Keep them coming!
I've recently joined your channel, and I'm from the UK in the middle class, 39, northern England, with a decent salary but high mortgage debt.
Living in the UK right now feels like living with depression. Unmotivated but overwhelmed, nothing to do but with too much to get done, it's like being awake for 22 hours but you're too tired to sleep.
There are a number of leftists online which want the communist revolution to guillotine the wealthy, but that's not going to appeal to my demographic.
I think to capture my demographic, you need to show us that you can tax the wealth of our boss, but that we won't loose our jobs when he closes and moves to Dubai
Great work Gary though
Gary does address that in previous videos. Essentially, the wealth is tied to the land, and it's not going anywhere. It's just scare tactics.
As someone else put it: the factory owners told the workers that if they made demands, the owners would throw the factories into the sea.
Yes jobs can be outsourced overseas - and the owners already do that anyway - but the wealth is mostly in the land and the permanent structures.
People who actually do the work should he rewarded and taxed less than people with assets.
Hi Gary. I find words difficult to find to express my thanks for your vlogs here and elsewhere. You are truly a breath of fresh air. I'll be buying your book shortly. Many thanks.
brill,nice wake up sunday 🫵❤
Just the playlist I was looking for. Slowly becoming a big fan. Keep it up Gary.
Great idea! 👍
I can't wait for further videos. I never took a course in economics because I found the material so dull - deliberately so. I taught basic math in grad school. Whenever we covered financial topics, all of the examples centered around car loans, mortgage payments, or buying ridiculous things. I always changed those examples to student loans. More than a few students would ask me why they were never taught this in high school. I think what you're doing is really important. I appreciate it very much. Thank you.
He's my economically Jesus! Had his awakening being a trader. Frees our minds now. Thank you, Gary!!
Keep Going Gary! Strong believer in your great work. I loved your interview with James O'Brien and cant wait to read your book. Your message is deeply critical in these times and cuts through the nonsense we call money and success. Im a 37 year old successful millionaire too and started with delivering newspapers at the age of 13. I have ten letters after my name but the educational qualifications only counted to less than 10% of the success or wealth I have accumulated. Most wealth comes from financial literacy and that is why you, your message and these videos are so important.
It’s sad that most people cannot get such basic concept…but what to expect when most people think that someone earning 50-100k is rich and need to be taxed more 😂 while people like rishi sunak earns 30 million a year in passive income and pays less tax than a cleaning lady
I worked at an Amazon warehouse and did the math, turns out the shareholders of Amazon made more gross income from capital gains of owning the stock than did every single Amazon employee combined from income over the past several years. I've no doubt they paid a lower tax rate on that gain as well, and it mostly went to the top 1% who don't work conventional jobs at all, especially Bezos himself. Really changed my perspective on money and where it comes from.
And what do you do for a living now?
What options do we have?
Buzzing for the election video. Not like it will be anything positive, considering the wealth distribution isn’t likely to be altered anytime soon with labour in charge, but excited nonetheless. Voted green to support the movement anyway. What a shambles our country is in…
Thank you Gary. Your information has shed light on what was previously hidden and obscure !
Keep up the good works.
I tell everyone about you
Man I just watched the video on insider or something like that of you talking about your life and God damn man that was some real s***. And it truly hit me when you said I started a UA-cam channel and nobody's watching it... When everybody should be so I instantly looked up Gary's economics and subscribed. And I took a good look at what you were saying and realized everybody's not a bad person even though I've been having a tough time over the last few years thinking everybody's just out for their f****** self. While yes that's mostly true I know it's not everybody. Just keep doing what you doing.
*MAYBE PUT "NO1" IN THE TITLE...!?!?!?*
Hey. I've been watching your videos for a while now. Love that you're putting your ideas into a course. Also great help for those of us that have already been following along!
I'm favoured, $60k every week! I can now give back to the locals in my community and also support God's work and the church. God bless America..
Assets that can make one successful in life
I. Forex
2.Stocks
3.Shares
You are right.
But I don't know why people remain poor due to ignorance
It's not ignorance but unprofessional broker in the market
Amazing stuff. My son is 4 years old now. I will make him watch these videos when he is grown up. Thanks for your service.