One of my professors in Medieval History mentioned one day that people tithing 10% of their income every year, and 10% of their estates when they die to the Catholic Church, after a few centuries transferred so much wealth to the Church that it began causing economic problems, constraining the economy. So the Church had to give some of it back. Never heard another word or found mention in a book. There are a couple of things going on in our world. A tax on wealth, means a tax on unrealized capital gains. Might be okay, but I think I'd feel that pain. No tax on unrealized capital gains is one of the ways the United States has become so wealthy. (No one understands what Alexander Hamilton really did. I've never seen the musical, but know enough about it to know his most important contribution is never mentioned.) However, property taxes on real estate, etc.. are a tax on wealth, so it's not unreasonable to tax wealth above a certain amount at these rates. (Poor Jeff Bezos having to pay 2% of his $170 billion every year.) Also the United States grows in wealth. The problem of course is this has been going to fewer and fewer hands -- people, corporations, etc.. that don't actually do much good with it (your point.) A lot of old old money is loaned out as credit card debt, which has become little different from Mafia loan sharks. It's buying up as many houses in the U.S. as it can so it can rent them out at increasingly higher rates. Basically it's surplus money to the super rich. At this point, that wealth is no longer really helping the United States, unless the goal is a plantation owned by Musk, Bezos, etc... It's being used to keep the middle and lower classes in penury. Now, how to sell this politically? That's the real issue. And for the record about 80% of my income and some of my capital, over 3-4 years will go to paying taxes. Not complaining. My real concern is an another problem that would exacerbate this.
This guy is a fraud, nobody can tax the rich, dont fall for this spell, rich people will leave somewhere else, reset the system, and have a goverment with dead penalty for corruption and a goverment that spends money where it had to be spended, local people. Greeting from Chile, a country under attack just like yours.
Money laundering... Government in debt, rich accumulate all they can, austerity rises for the 99%, houses and essentials just through the roof, this was ur first video?! Damn... U really go to the point, and u humble urself doing this kind of retrospective, much love for this energy ur trying to bring to the table... Keep it going 🙏
Thank you so much Gary for spreading this message. I'm a post man and a father and when you tell your story it really rings through. Please don't give up, the working and British people need you! ❤
@@Scotlanz Interesting also to see the common expression "rings true" become "rings through" (as a linguist, I happen to be fascinated by how language changes, particularly through mishearings and misunderstandings).
The code switching of accents is a hard relate, been there. Arguably, your "twang" is what pulled people in, it's familiar to a lot of us. You're raising the profile of wealth inequality in a novel way and it's essential. "The rich kept their income,and lost their expenditure." Keep on keeping on 💪🏾. Side note: we need a super cut edit of all the one liners in this video 😁
All the successful TH-camrs have a saying or some distinctive characteristic. Gary's "accent" is very counterintuitive (to me at least) for an intelligent informed articulate "influencer. Clearly the people who employed him as a trader recruited on merit rather than school attended. Go Gary, you give me the heart to struggle on.
Beau of the Fifth Column is similar - he looks and sounds like the stereotype of a rural MAGA conservative, but talks about political issues from a leftist perspective
the accent is interesting. That first video is very modern London street English -- fusion of cockney, Caribbean and south Asian. Most of the time these days it's slightly toned down East End cockney.
Just FYI in case you don't know already, I emailed the ONS about the latest wealth inequality figures and apparently they're being published in September. It'll be incredibly interesting to see how they've changed since 2020 and possibly a good time for a public push. Get you back on the politics shows!
Gary asked very uncomfortable questions and they’ll never invite him back unless we all demand it. Find out who the editors are for those shows and bombard their inboxes, it’ll never happen otherwise.
I've been searching all over the place for data on wealth inequality (started with the ONS). I want to do a piece on it. So I'll be checking for when this is released. Give me a reply if you find out first! 😆
Hey Gary! Can’t believe i got to meet you at a random hostel in Kagurazaka but just wanted to say keep up the amazing content, you’re out here changing viewpoints-and potentially lives-with your wisdom; it’s honest work, and you deserve more praise than you’ll ever get. Cheers mate :)
Thanks for all you do. Your approach to economics and your analysis is a breath of fresh air. I share your incredulity that this isn't being discussed more in the mainstream. But I think more people have a better understanding thanks to you and others.
Morning Gary. First time seeing the video, it's full of passion, it's direct and your saying it how it is. Always about the substance not how you come a cross
“Don’t give me your opinion, tell me your position” is one of the smartest things you’ve coined. I’m no investor or financial expert but I use the concept when discussing politics with people. If they tell me they like Reform UK and they offer a few measly sound bites as justification, being someone very interested in politics, I can tell them the leadership’s POSITION on certain topics. That Ben Habib would let refugees drown in the channel, or that Farage believes in a private healthcare model, or that some Reform UK Election candidates didn’t exist. It’s a great ethos. Thank you for your work Gary ❤
To be fair its easy to pick on reform (despite them having a full manifesto which doesn't include drowning migrants) but you would get the same response from people on any party. Most people who I know who vote Labour do so because they a) hate the Tories or B) their dad always has. The greens usually because they want to save the countryside (when they actually want to build millions of houses). Most people I know who vote reform do so as their is no credible right of centre party left in Britain and they are frustrated with what is happening with uncontrolled immigration.
I just finished listening to you read your book and loved it. Happy to follow you on this channel. Thanks for sharing the knowledge you’ve developed over time. I had never heard of the specialty of “inequality economist” - I so appreciate this focus.
Found your channel about a month ago and I've been recommending you to my younger students (sub 25 year olds.) in the hope that they will at the very least start thinking about whats going on and try to help them understand why they are feeling so pissed off about not being able to get onto the property ladder. Keep up the good work, i cant imagine the effort required to keep up the videos on a regular basis. Congratulations on your last 4 years, roll on many more. 👍
@@mssmilingassasin501 yes because it has nothing to do with England being the most densely populated country in Europe and accepting almost a million new immigrants each year while having 5 million home deficit and vast boomer population living in oversized properties and not paying any extra tax on them.
@@vonder7 I live in the South West and can tell you for sure that what you're saying about migration is not as black and white as you put it. Sure, migration will have an impact, but there are so many properties in the area where I live that are owned as holiday homes (second homes, some of which are owned by foreign nationals primarily living overseas) and stand empty for more than 50% of the year. There are whole towns in Cornwall that are deserted for the majority of the off season, while the younger generations of the local population simply can't buy a house there. The ability to buy council properties since the days of Thatcher is part to blame. The number of social homes has reduced dramatically since then, and while yes, some of them are occupied by migrants, the fact that so many properties (both ex social and private) are now owned by landlords is very much to blame.
@@green_beard_87 it’s a tourist hot spot, a lot of people want to live there or go on holidays so the prices are high. do you think a shop assistant can afford to buy a house in Marbella, Nice or Monte Carlo? They can move to cheaper part of a country. But O would agree that foreigners not living in the uk shouldn’t be allowed to buy properties in the uk. I don’t understand this notion that someone should simply deserve living in a nice part of a country, deserve to own a nice house without actually earning it. It’s a commies utopia that will never work. You want to live good? Just earn it - that’s why income taxes should be minimal.
Whilst I do agree in part about the tourist hotspot part, what I was pertaining to is the people who own a second home and keep it to themselves. This has a negative impact on the local economy (I.e. local hotels and b&b's missing out on trade) as well as reduces the free housing stock for the indigenous population. If I own two homes, I can only live in one of them. This is part of the issue related to your comment about a shortage of housing. Its not solely limited to the south west either, the area that I moved from had the same problem.
@@green_beard_87 yeah cause everyone should be allowed to have only one house, one pair of shoes and one bicycle. It really worries me how this country is turning into commies stronghold 😩
Thank you for sharing such valuable information in a way that is understandable & relatable to the average person. Sharing your work & videos with my kids (in their early 20’s) has opened up some great discussions, so thank you & keep going ❤
I always say to people, just listen to the experts. Gary was at one point the best trader in world by betting there would be increase inequality. He knows possibly more than anyone about this. Just find people like Gary and listen to them
Excellent predictions - I really think people have forgotten how things looked in mid 2020. It felt like the world was ending and you saw through it all to warn us and foretell the mess we’re in now.
I remember watching this video 4 years ago, when I was on furlough from Debenhams. I was part of the back of house and even I'd been furloughed. Everything was painted clearly and this video confirmed it. A month later Debenhams let go of huge amount of people and went into administration. I still had to eat and live, so that's where that money went. The rentier class and the corporations.
There’s also massive private investment in huge rental schemes, all over the country huge amounts of high rise luxury apartments are being built for rental only. This is designed to accrue as much of the equity in homeownership to private investors and keep it away from individuals.
Congratulations on your 4th anniversary. 3rdager discovered Gary's TH-cam channel about 3 years ago, bought his book on the first day it arrived in Manchester's bookshops and enjoyed the talk he gave as part of its promotion. 3rdager hoped to help future generations but, in order to avoid bankruptcy, will shortly be forced to sell semi-derelict houses, earmarked for a small walkers/cyclists hostel/community hub supporting co-operative housing, to property developers: We have a cash offer on the table, whoever gets involved will get a decent return but working people will not benefit. 3ha's project is in line with Gary's concerns but this 3rdager's concerns date back to the beginning of the 21st century; any advice on finding a philanthropic investor?
Absolute twaddle you spout. Anyone can attempt to invest in property. There in no inherent right to be able to own property assets. It is an open market competition.
@@paulgbar666except large funds are building 1000+ unit build to rent projects. This is new to the uk and comes after a mass exodus of private landlords from the uk private rental sector. It is no longer profitable for small landlords to enter the buy to let sector due to taxes, legal vulnerability and high interest rates. So it is a free market but it is now very heavily weighted to the rich and the transfer of wealth and housing stock is coming from the middle classes.
288K subscribers, a huge rise in a relatively short time, surpassing so many others with TH-cam channels that started before you! Good stuff, keep it up! ❤ "Tax the rich" - Congresswoman Alexandra Ocasio-Cortez ❤
Great video. You could feel the passion in your first video but it's also great to know how far you've come in these 4 years in understanding how to communicate these ideas in a way that really let's people wrap their heads around what is happening. Love ur stuff. Keep up the great work.
You could probably film annotations you're making in real time on a whiteboard on an overhead camera and then put those videos in the corner like you've done in this one - could include annotations but save time that way Thanks for what youre doing Gary ❤😊
@@WilliamAhlertin Spirited Away the character ‘No Face’ is a character driven by greed and continuous consumption and becomes horrifically bloated as a result. The character also creates an environment of servitude amongst the bathhouse staff by piecemealing out scraps of gold! Genius link really
@@821Drifter128 Yep the greed for gold, and how they're all consumed by it. Thinking about it some more, there's another part too: No Face isn't even inherently greedy or evil, he's influenced by the bath-house. He's shaped by the system he's in. Change the system, and it pushes individuals in a different direction.
I would whole heartily agree that wealth needs to be taxed rather than just income, however is is impossible when our UK government and indeed all western nations are controlled by plutocratic oligarchic wealth. Power no longer resides with the people and our democracies are irrelevant with this control of government, media, industry, commerce and finance. Systems of control are biased towards wealth and the law is changed to support it. Reference reading: Vassal State: Angus Hanton Silent Coup: Matt Kennard The Racket: Matt Kennard PS. Congratulations on 4 years of excellent analysis and putting this out there. Cheers mate
Thanks for all your work on this vital matter Gary. I hear your name being mentioned more and more nowadays (always in a positive way). The message IS getting out there.
Seemed mad at the time how much they were handing out but then again I wasn't furloughed as worked in IT. . My mate got into baking bread and buying craft beer with it.. (I think it created a bubble in that industry but many new breweries gone under now with high energy prices.)
Reading Tressell's book that was published in 1911, its shocking how much is familiar today in the thoughts and attitudes of the working class xharacters. And there was if I remember correctly, there was a big baking crisis in the 1880s. So... Perhaps not that much has changed.
I feel like using the word 'Rich' is what scares a lot of people from the conversation. They are more than likley just doing better than the majority. It needs a new adjective, maybe 'Mega Rich'?
Yeah, I've started saying mega-rich or ultra-rich. Also 1% - but that's trickier as if it is said or taken literally, it's probably too precise and varies by country.
@@tiddlypom2097 Top 1% could still be misinterpreted as more tax on high incomes and that's already a thing. Could say "the 22,000" or "the 0.03%" as that seems to be the estimate for how many people would be taxed under plans for taxing wealth over £10m. It'd be good to also make a name that obviouslys mean "by wealth", but I suppose even if it's interpreted as income, the top 0.03% would be millions of pounds per year, which is probably either from assets, being used to buy assets or both, and is clearly distant from anyone with your typical four, five or six digits of annual salary.
Since we're educating people on what wealth is, we push for more wealth tax, we should call them "the very wealthy". Of course, this scares people that want to accumulate wealth, but it should not. If you're accumulating, then you have good income. Anything that lessens the tax burden on your income will help you accumulate. The only ones affected are the ones that have income exclusively based on their existing wealth/assets, which are a very small minority everywhere in the world.
Congratulations. 4 YEARS! Your accent has changed mate, your delivery has smoothed, you sounded emotional and fast then, your messaging is amazingly calm now. I was in fright on camera at LSE. Imagine. In 4 years from now we could have a thousand #FossilFuelFree #SustainableSupplyChain #PeoplePowered pubs putting deliberatively democracy right at the heart of communities all over the UK. #SavingBritainsPubs. We need a podcast. Called #AllForTheLoveOfPubs to expose the #PostOfficeScandal2. 0
3 years ago a tin of custody was 70 pence. Last week 1.25p and this week 1.50 pence. Over 100 per cent increase on one item. I estimate in 3 years it will be 3.00 a tin if not more.
This guy is a fraud, nobody can tax the rich, dont fall for this spell, rich people will leave somewhere else, reset the system, and have a goverment with dead penalty for corruption and a goverment that spends money where it had to be spended, local people. Greeting from Chile, a country under attack just like yours.
Yes keep doing it! I'd like to talk to you about the social enterprise business model (I work for one) and how along with taxing the wealthy, purpose driven businesses can also help change the world - but funding is being cut which is devastating the sector who do so much for people and planet
This is my argument. I speak about community wealth, which includes social enterprises, businesses for good, essentially inspiring ordinary people to solve the problems right in front of them through business principles
The self-criticism/ correction around grammar made the ribs in my chest crunch together. The way that we still carry shame however much we “escape” the economic conditions we grew up in. Gary, the way you speak is just fine and the contribution you make to the movement for economic justice is invaluable.
In my humble opinion, Gary, the early video with its graphics makes it SO much easier for us, the plebs, to understand what you're on about that I would seriously recommend putting it into the newer stuff...if you can bear it! Great video, by the way! My whole family follows you now!
I dont know anything about ecomonics or money in general, but I start to learn something new everytime I watch a new video of yours. Thanks Gary! Greetings from a poor swede.
Garry, I am amazed how dedicated you are to make sure ordinary people understand about government finances. I am happy to see a young person like you have taken a cause that is so noble. Wishing you all the best. Well done Garry. Enjoyed watching this video.
Jeremy Corbyn is starting People's Forums all over the country. Maybe you could find like minded people there. You could be the financial policy adviser. They are hoping to build a new political party.
@T1tusCr0w Just Google Jeremy Corbyn There are two articles that I saw. One from the BBC fwtw. I picked up he said this idea first in an article with Guardian post election. Eary days but I hope it's true.
Happy Anniversary! I first heard about you when you did an interview with Felix Salmon about your book, Trading Game. You were so right about how the financial guys don’t get it. You were telling him how rough things were for working class in UK and you suspected that working class Americans were likely also having a hard time. But Felix was disagreeing with you by saying Americans are doing well. Let me tell you, as an American, regular people are struggling due to high inflation in grocery stores and pay is not keeping up. The folks with homes are getting hit with higher property taxes due to home values up but it can’t be accessed. Those without homes can’t buy them because zoning laws limit new construction of homes and homes that go on market are being bought by investors at the expense of young families who are turned into permanent renters. The economists can’t see it because they don’t talk to people, they just look at aggregated data. Your book was great. Gotta turn it into a film to reach everyone.
The story here in Canada is extremely similar and your videos have been informative and helpful regardless of the UK context. I regularly send these to friends and family. Please keep doing what you're doing Gary.
Thanks for all your hard work, Gary. For the last few years your videos have provided the perfect resource to help me understand the underlying problems we face, share that understanding with others and, crucially, to watch this new government and pay attention, not to what they say, but what they actually do - or don't do - on these issues so we can hold them to account....or build a political alternative, which in my opinion is what needs to happen. Cheers pal ✊
It was interesting to see your first video - your content was spot on but you've become better at communicating on video. I'm glad I found your channel.
Just saw your interview with business insider and loved it! Started following you immediately and live your story and your content ❤ you’re doing good fucking work!
Hi Gary, I read your article in the guardian 4 years ago and messaged you on twitter. You were good enough to get back to me and I greatly appreciated the response. I also watched this video when it first came out. I told you at the time how I was interested in economics and that you presented it all in a way that is accessible and relevant. I just wanted to say that I continue to learn from you and appreciate all the videos and insights. Thanks so much for everything, keep up the good work.
I’ve watched all your new videos since I found the channel a couple of years back but have never watched the first one, so this was much appreciated! The inflation prediction hit hard 😢 Keep up the good fight!
Could say that you had 2020 vision 🥁
Underated comment.
😂😅😊
Ba-dum tchhhhhh
🎉
How could he possibly have known? Oh yes, he’s clever and really knows his stuff. 😮
Congratulations on 4 years speaking out on a truth many do not want to hear.
One of my professors in Medieval History mentioned one day that people tithing 10% of their income every year, and 10% of their estates when they die to the Catholic Church, after a few centuries transferred so much wealth to the Church that it began causing economic problems, constraining the economy. So the Church had to give some of it back. Never heard another word or found mention in a book.
There are a couple of things going on in our world. A tax on wealth, means a tax on unrealized capital gains. Might be okay, but I think I'd feel that pain. No tax on unrealized capital gains is one of the ways the United States has become so wealthy. (No one understands what Alexander Hamilton really did. I've never seen the musical, but know enough about it to know his most important contribution is never mentioned.) However, property taxes on real estate, etc.. are a tax on wealth, so it's not unreasonable to tax wealth above a certain amount at these rates. (Poor Jeff Bezos having to pay 2% of his $170 billion every year.)
Also the United States grows in wealth. The problem of course is this has been going to fewer and fewer hands -- people, corporations, etc.. that don't actually do much good with it (your point.) A lot of old old money is loaned out as credit card debt, which has become little different from Mafia loan sharks. It's buying up as many houses in the U.S. as it can so it can rent them out at increasingly higher rates. Basically it's surplus money to the super rich.
At this point, that wealth is no longer really helping the United States, unless the goal is a plantation owned by Musk, Bezos, etc... It's being used to keep the middle and lower classes in penury.
Now, how to sell this politically? That's the real issue.
And for the record about 80% of my income and some of my capital, over 3-4 years will go to paying taxes. Not complaining. My real concern is an another problem that would exacerbate this.
This guy is a fraud, nobody can tax the rich, dont fall for this spell, rich people will leave somewhere else, reset the system, and have a goverment with dead penalty for corruption and a goverment that spends money where it had to be spended, local people. Greeting from Chile, a country under attack just like yours.
In the land of the blind the one eyed man is king
Money laundering... Government in debt, rich accumulate all they can, austerity rises for the 99%, houses and essentials just through the roof, this was ur first video?!
Damn...
U really go to the point, and u humble urself doing this kind of retrospective, much love for this energy ur trying to bring to the table...
Keep it going 🙏
Thank you so much Gary for spreading this message. I'm a post man and a father and when you tell your story it really rings through. Please don't give up, the working and British people need you! ❤
I genuinely wondered what a post man was…then I realised that you must be a postman. 😂😂
@@Scotlanz Interesting also to see the common expression "rings true" become "rings through" (as a linguist, I happen to be fascinated by how language changes, particularly through mishearings and misunderstandings).
@@Scotlanz same 😅
Predictive text on a dodgy phone!
Well done on 4 years. Keep going Gary, we are all with you as this mess of an economy has to change now
Gary, whatever you do, don't stop. People are just starting to wake up to this and we need people like you around for it!
The code switching of accents is a hard relate, been there. Arguably, your "twang" is what pulled people in, it's familiar to a lot of us. You're raising the profile of wealth inequality in a novel way and it's essential. "The rich kept their income,and lost their expenditure." Keep on keeping on 💪🏾. Side note: we need a super cut edit of all the one liners in this video 😁
All the successful TH-camrs have a saying or some distinctive characteristic. Gary's "accent" is very counterintuitive (to me at least) for an intelligent informed articulate "influencer. Clearly the people who employed him as a trader recruited on merit rather than school attended.
Go Gary, you give me the heart to struggle on.
Beau of the Fifth Column is similar - he looks and sounds like the stereotype of a rural MAGA conservative, but talks about political issues from a leftist perspective
the accent is interesting. That first video is very modern London street English -- fusion of cockney, Caribbean and south Asian. Most of the time these days it's slightly toned down East End cockney.
Love that Gary puts everything simple for anyone to understand.
Just FYI in case you don't know already, I emailed the ONS about the latest wealth inequality figures and apparently they're being published in September. It'll be incredibly interesting to see how they've changed since 2020 and possibly a good time for a public push. Get you back on the politics shows!
Gary asked very uncomfortable questions and they’ll never invite him back unless we all demand it. Find out who the editors are for those shows and bombard their inboxes, it’ll never happen otherwise.
Cheers mate ❤
I'll be having a good look at those stats.
Of course it won’t happen because the rich control everything & there not going to let anyone change that
I've been searching all over the place for data on wealth inequality (started with the ONS). I want to do a piece on it. So I'll be checking for when this is released. Give me a reply if you find out first! 😆
Fan from America. Clear, consist, logical. Thank you 🙏 Gary. Very informative, wish more people could realize how impactful this information is
Hey Gary! Can’t believe i got to meet you at a random hostel in Kagurazaka but just wanted to say keep up the amazing content, you’re out here changing viewpoints-and potentially lives-with your wisdom; it’s honest work, and you deserve more praise than you’ll ever get. Cheers mate :)
@@jiyuandong8964 👑💥💜
Gary Stevenson for Chancellor of the Exchequer! An economist that understands the system and wants to serve the interests of working people!
Always looking forward to Sunday breakfast with Gary.
Thank you for this brilliant post.
Congratulations on the anniversary 🎉🎉🎉
Thanks for all you do. Your approach to economics and your analysis is a breath of fresh air. I share your incredulity that this isn't being discussed more in the mainstream. But I think more people have a better understanding thanks to you and others.
Morning Gary. First time seeing the video, it's full of passion, it's direct and your saying it how it is.
Always about the substance not how you come a cross
“Don’t give me your opinion, tell
me your position” is one of the smartest things you’ve coined. I’m no investor or financial expert but I use the concept when discussing politics with people. If they tell me they like Reform UK and they offer a few measly sound bites as justification, being someone very interested in politics, I can tell them the leadership’s POSITION on certain topics. That Ben Habib would let refugees drown in the channel, or that Farage believes in a private healthcare model, or that some Reform UK Election candidates didn’t exist. It’s a great ethos. Thank you for your work Gary ❤
To be fair its easy to pick on reform (despite them having a full manifesto which doesn't include drowning migrants) but you would get the same response from people on any party. Most people who I know who vote Labour do so because they a) hate the Tories or B) their dad always has. The greens usually because they want to save the countryside (when they actually want to build millions of houses). Most people I know who vote reform do so as their is no credible right of centre party left in Britain and they are frustrated with what is happening with uncontrolled immigration.
Fantastic ❤ Keep Spreading the Word.
Cheers from Australia.
I just finished listening to you read your book and loved it. Happy to follow you on this channel. Thanks for sharing the knowledge you’ve developed over time. I had never heard of the specialty of “inequality economist” - I so appreciate this focus.
I love you Gal, love your message and your work.
Keep fighting, the good fight, you are appreciated x
Found your channel about a month ago and I've been recommending you to my younger students (sub 25 year olds.) in the hope that they will at the very least start thinking about whats going on and try to help them understand why they are feeling so pissed off about not being able to get onto the property ladder. Keep up the good work, i cant imagine the effort required to keep up the videos on a regular basis. Congratulations on your last 4 years, roll on many more. 👍
@@mssmilingassasin501 yes because it has nothing to do with England being the most densely populated country in Europe and accepting almost a million new immigrants each year while having 5 million home deficit and vast boomer population living in oversized properties and not paying any extra tax on them.
@@vonder7 I live in the South West and can tell you for sure that what you're saying about migration is not as black and white as you put it. Sure, migration will have an impact, but there are so many properties in the area where I live that are owned as holiday homes (second homes, some of which are owned by foreign nationals primarily living overseas) and stand empty for more than 50% of the year. There are whole towns in Cornwall that are deserted for the majority of the off season, while the younger generations of the local population simply can't buy a house there. The ability to buy council properties since the days of Thatcher is part to blame. The number of social homes has reduced dramatically since then, and while yes, some of them are occupied by migrants, the fact that so many properties (both ex social and private) are now owned by landlords is very much to blame.
@@green_beard_87 it’s a tourist hot spot, a lot of people want to live there or go on holidays so the prices are high. do you think a shop assistant can afford to buy a house in Marbella, Nice or Monte Carlo? They can move to cheaper part of a country. But O would agree that foreigners not living in the uk shouldn’t be allowed to buy properties in the uk. I don’t understand this notion that someone should simply deserve living in a nice part of a country, deserve to own a nice house without actually earning it. It’s a commies utopia that will never work. You want to live good? Just earn it - that’s why income taxes should be minimal.
Whilst I do agree in part about the tourist hotspot part, what I was pertaining to is the people who own a second home and keep it to themselves. This has a negative impact on the local economy (I.e. local hotels and b&b's missing out on trade) as well as reduces the free housing stock for the indigenous population. If I own two homes, I can only live in one of them. This is part of the issue related to your comment about a shortage of housing. Its not solely limited to the south west either, the area that I moved from had the same problem.
@@green_beard_87 yeah cause everyone should be allowed to have only one house, one pair of shoes and one bicycle. It really worries me how this country is turning into commies stronghold 😩
Amongst all the lies and deceit, you stand out as a breath of fresh air Gary.
You were, and are right.
Shame on them for refusing to listen.
Please don't stop what you are doing. These messages need to be spread everywhere.
Congrats on your 4th anniversary Gary
Keep them coming!
Thank you for sharing such valuable information in a way that is understandable & relatable to the average person. Sharing your work & videos with my kids (in their early 20’s) has opened up some great discussions, so thank you & keep going ❤
I'm sharing with my 25 year old son too. Young people need to be aware of this stuff 💪
I always say to people, just listen to the experts. Gary was at one point the best trader in world by betting there would be increase inequality. He knows possibly more than anyone about this. Just find people like Gary and listen to them
My grandad had a saying which summed this up, "the devil always shits on the biggest pile"
Not gunna lie, I don't get it 😄
@@Sock1122means the rich get richer and the poor get poorer and the injustice of it all. It's an old German saying apparently
@@SuperKendoman If a saying mentions both the devil and shit it's a good bet it's German and probably also something Martin Luther said.
@@SuperKendoman I'm German and yeah it's well known in Germany. Has been that way since forever I guess. Some things didn't change at all.
The devils got piles
Congrats mate from Australia 🇦🇺 🎉
Full Power to you Gary! Keep doing what you're doing!
My favourite person to ‘see’ on Sunday! Your knowledge has helped me more than you will ever know
Excellent predictions - I really think people have forgotten how things looked in mid 2020. It felt like the world was ending and you saw through it all to warn us and foretell the mess we’re in now.
I remember watching this video 4 years ago, when I was on furlough from Debenhams. I was part of the back of house and even I'd been furloughed. Everything was painted clearly and this video confirmed it. A month later Debenhams let go of huge amount of people and went into administration. I still had to eat and live, so that's where that money went. The rentier class and the corporations.
Happy anniversary Gary🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉
You and your mate built a great channel
Good episode
Happy 4th
Good luck for the years ahead
There’s also massive private investment in huge rental schemes, all over the country huge amounts of high rise luxury apartments are being built for rental only. This is designed to accrue as much of the equity in homeownership to private investors and keep it away from individuals.
I've noticed this as well
Congratulations on your 4th anniversary.
3rdager discovered Gary's TH-cam channel about 3 years ago, bought his book on the first day it arrived in Manchester's bookshops and enjoyed the talk he gave as part of its promotion.
3rdager hoped to help future generations but, in order to avoid bankruptcy, will shortly be forced to sell semi-derelict houses, earmarked for a small walkers/cyclists hostel/community hub supporting co-operative housing, to property developers: We have a cash offer on the table, whoever gets involved will get a decent return but working people will not benefit.
3ha's project is in line with Gary's concerns but this 3rdager's concerns date back to the beginning of the 21st century; any advice on finding a philanthropic investor?
Absolute twaddle you spout.
Anyone can attempt to invest in property.
There in no inherent right to be able to own property assets.
It is an open market competition.
@@paulgbar666except large funds are building 1000+ unit build to rent projects. This is new to the uk and comes after a mass exodus of private landlords from the uk private rental sector. It is no longer profitable for small landlords to enter the buy to let sector due to taxes, legal vulnerability and high interest rates. So it is a free market but it is now very heavily weighted to the rich and the transfer of wealth and housing stock is coming from the middle classes.
Vital work Gary! Here’s to the next anniversary and to real, good, reasonable change 🎉
Thank you for your hard work Gary.
288K subscribers, a huge rise in a relatively short time, surpassing so many others with TH-cam channels that started before you! Good stuff, keep it up! ❤
"Tax the rich" - Congresswoman Alexandra Ocasio-Cortez ❤
Nice work Gary mate. Keep fighting the good fight. Nice to see how much you’re growing as a TH-camr.
Great video. You could feel the passion in your first video but it's also great to know how far you've come in these 4 years in understanding how to communicate these ideas in a way that really let's people wrap their heads around what is happening.
Love ur stuff. Keep up the great work.
Good Morning you look relaxed which is awesome to see xx
This was filmed just before I went on holiday!
Thanks so much for the amazing work you do
Happy anniversary Garry, in 4 years you are closing in on 1/3 of a million subs just imagine the impact you’ll have in another 4 years time
You need to do more animations - this really helped your messaging.
Happy Anniversary 😊💐👏👍
You could probably film annotations you're making in real time on a whiteboard on an overhead camera and then put those videos in the corner like you've done in this one - could include annotations but save time that way
Thanks for what youre doing Gary ❤😊
You have made a massive difference in how I see money and the injustice of it all. Thank you Gary, you made a massive difference in my social circle.
just realised the significance of the jumper.. lol, nice one.
OMG I recognised it from Spirited Away but until your comment I didn't think about the relevance of the characters and story. Good pick up!
@@tiddlypom2097damn I didn’t get that - could you explain 🤣
@@WilliamAhlertin Spirited Away the character ‘No Face’ is a character driven by greed and continuous consumption and becomes horrifically bloated as a result. The character also creates an environment of servitude amongst the bathhouse staff by piecemealing out scraps of gold! Genius link really
@@821Drifter128 Yep the greed for gold, and how they're all consumed by it.
Thinking about it some more, there's another part too: No Face isn't even inherently greedy or evil, he's influenced by the bath-house. He's shaped by the system he's in. Change the system, and it pushes individuals in a different direction.
Thanks Gary! So many people with your knowledge have kept quiet. Appreciate that you care enough that your willing to take the time to educate people.
That was a good video mate.
Happy Birthday Gary. Keep up the good work!!!
I would whole heartily agree that wealth needs to be taxed rather than just income, however is is impossible when our UK government and indeed all western nations are controlled by plutocratic oligarchic wealth. Power no longer resides with the people and our democracies are irrelevant with this control of government, media, industry, commerce and finance. Systems of control are biased towards wealth and the law is changed to support it.
Reference reading:
Vassal State: Angus Hanton
Silent Coup: Matt Kennard
The Racket: Matt Kennard
PS. Congratulations on 4 years of excellent analysis and putting this out there.
Cheers mate
Thanks for all your work on this vital matter Gary. I hear your name being mentioned more and more nowadays (always in a positive way). The message IS getting out there.
Well done Gary, I hope your channel keeps growing and that your message keeps being spread
Love the video man, very nice explanation.
Also its really sweet how you are reacting too your video i can tell you are here with your heart
You truly are the G 😎✊👍
Your a legend mate.
Seemed mad at the time how much they were handing out but then again I wasn't furloughed as worked in IT. . My mate got into baking bread and buying craft beer with it.. (I think it created a bubble in that industry but many new breweries gone under now with high energy prices.)
I got into the baking bread thing too, but just kept eating it.
LOVE YOU!!!
This sounds like ‘The Great Money Trick’ as described by Robert Tressel in ´The Ragged Trousered Philanthropists’
Reading Tressell's book that was published in 1911, its shocking how much is familiar today in the thoughts and attitudes of the working class xharacters. And there was if I remember correctly, there was a big baking crisis in the 1880s. So... Perhaps not that much has changed.
It changed the world that book. I would recommend it to anyone even now. It’s as relevant as ever unfortunately.
Great book, set in the period before nationalisation.
Keep it up my man.
Following you from India, we face this problem here as well, could be small differences. But, our worry is bigger because our population is bigger 😊
At least many in India are aware of the overt corruption. Here in the West, people are still blind to it.
I feel like using the word 'Rich' is what scares a lot of people from the conversation. They are more than likley just doing better than the majority.
It needs a new adjective, maybe 'Mega Rich'?
Yeah, I've started saying mega-rich or ultra-rich.
Also 1% - but that's trickier as if it is said or taken literally, it's probably too precise and varies by country.
@@tiddlypom2097 Top 1% could still be misinterpreted as more tax on high incomes and that's already a thing.
Could say "the 22,000" or "the 0.03%" as that seems to be the estimate for how many people would be taxed under plans for taxing wealth over £10m.
It'd be good to also make a name that obviouslys mean "by wealth", but I suppose even if it's interpreted as income, the top 0.03% would be millions of pounds per year, which is probably either from assets, being used to buy assets or both, and is clearly distant from anyone with your typical four, five or six digits of annual salary.
Since we're educating people on what wealth is, we push for more wealth tax, we should call them "the very wealthy".
Of course, this scares people that want to accumulate wealth, but it should not. If you're accumulating, then you have good income. Anything that lessens the tax burden on your income will help you accumulate. The only ones affected are the ones that have income exclusively based on their existing wealth/assets, which are a very small minority everywhere in the world.
Congratulations. 4 YEARS! Your accent has changed mate, your delivery has smoothed, you sounded emotional and fast then, your messaging is amazingly calm now. I was in fright on camera at LSE. Imagine. In 4 years from now we could have a thousand #FossilFuelFree #SustainableSupplyChain #PeoplePowered pubs putting deliberatively democracy right at the heart of communities all over the UK. #SavingBritainsPubs. We need a podcast. Called #AllForTheLoveOfPubs to expose the #PostOfficeScandal2. 0
3 years ago a tin of custody was 70 pence. Last week 1.25p and this week 1.50 pence. Over 100 per cent increase on one item. I estimate in 3 years it will be 3.00 a tin if not more.
I'm 2/3rds through the book, its been a fun read 👍
Inequality is here to stay & will definitely cause instability...
Happy Anniversary. Keep up the good work!
Such an amazing video, glad I saw this
I cannot imagine how uncomfortable I'd be going back and watching myself presenting 4yrs ago.
Mad respect for doing this one.
This guy is a fraud, nobody can tax the rich, dont fall for this spell, rich people will leave somewhere else, reset the system, and have a goverment with dead penalty for corruption and a goverment that spends money where it had to be spended, local people. Greeting from Chile, a country under attack just like yours.
Yes keep doing it! I'd like to talk to you about the social enterprise business model (I work for one) and how along with taxing the wealthy, purpose driven businesses can also help change the world - but funding is being cut which is devastating the sector who do so much for people and planet
This is my argument. I speak about community wealth, which includes social enterprises, businesses for good, essentially inspiring ordinary people to solve the problems right in front of them through business principles
This will be far more impactful at critical mass than any top down measures
That’s 4 years from a few months into Covid. How time ….. flies
Congratulations, Gary 🎉
So Thankful for smart young men like yourself in the world 🌍
The self-criticism/ correction around grammar made the ribs in my chest crunch together. The way that we still carry shame however much we “escape” the economic conditions we grew up in. Gary, the way you speak is just fine and the contribution you make to the movement for economic justice is invaluable.
Congratulations on really good predictions and a completely consistent message.
Thanks in advance Gaz. I always appreciate your ideas mate.
Thank you Gary! I love your videos very informative keep doing what you are doing.
Well done. Admire your vision and the stand you are taking.
In my humble opinion, Gary, the early video with its graphics makes it SO much easier for us, the plebs, to understand what you're on about that I would seriously recommend putting it into the newer stuff...if you can bear it! Great video, by the way! My whole family follows you now!
I dont know anything about ecomonics or money in general, but I start to learn something new everytime I watch a new video of yours. Thanks Gary! Greetings from a poor swede.
Well done re book. And film option. Keep going strong. ❤
Garry, I am amazed how dedicated you are to make sure ordinary people understand about government finances. I am happy to see a young person like you have taken a cause that is so noble. Wishing you all the best. Well done Garry. Enjoyed watching this video.
Jeremy Corbyn is starting People's Forums all over the country. Maybe you could find like minded people there. You could be the financial policy adviser. They are hoping to build a new political party.
wtf why haven’t I heard of this at all.. not 1 peep on twitter even. 😐
@T1tusCr0w Just Google Jeremy Corbyn There are two articles that I saw. One from the BBC fwtw. I picked up he said this idea first in an article with Guardian post election. Eary days but I hope it's true.
@@T1tusCr0w Google it. There are three articles, including one from te BBC online.
Google it . There are 3 articles one by the BBC online.
Thank you Gary
Happy Anniversary! I first heard about you when you did an interview with Felix Salmon about your book, Trading Game. You were so right about how the financial guys don’t get it. You were telling him how rough things were for working class in UK and you suspected that working class Americans were likely also having a hard time. But Felix was disagreeing with you by saying Americans are doing well. Let me tell you, as an American, regular people are struggling due to high inflation in grocery stores and pay is not keeping up. The folks with homes are getting hit with higher property taxes due to home values up but it can’t be accessed. Those without homes can’t buy them because zoning laws limit new construction of homes and homes that go on market are being bought by investors at the expense of young families who are turned into permanent renters. The economists can’t see it because they don’t talk to people, they just look at aggregated data. Your book was great. Gotta turn it into a film to reach everyone.
The story here in Canada is extremely similar and your videos have been informative and helpful regardless of the UK context. I regularly send these to friends and family. Please keep doing what you're doing Gary.
Thanks for all your hard work, Gary. For the last few years your videos have provided the perfect resource to help me understand the underlying problems we face, share that understanding with others and, crucially, to watch this new government and pay attention, not to what they say, but what they actually do - or don't do - on these issues so we can hold them to account....or build a political alternative, which in my opinion is what needs to happen. Cheers pal ✊
Happy Anniversary and thank you for all your hard work! I have learned so much about world economies and inequality from your channel alone. Bravo!
It was interesting to see your first video - your content was spot on but you've become better at communicating on video. I'm glad I found your channel.
Hard to self review properly. Really hard open to everyone. Well done Gary 👏 respect
What would be interesting, would be doing a video on your mistakes / bad predictions
He does? That is what the video is about.
A pretty short video 😂😂😂
Just saw your interview with business insider and loved it! Started following you immediately and live your story and your content ❤ you’re doing good fucking work!
Keep up the good work
Well done Gary from New Zealand! All true here, same same.
Many happy returns! Just love your humility and sincerity - keep up the good work cos we're in this for the long haul.
Always good to listen to you Gary
Love your YT videos. I'm a new subscriber and read your book in a few days :) Wow 4 years ago today!! Happy Anniversary. Keep up the good work.
Hi Gary, I read your article in the guardian 4 years ago and messaged you on twitter. You were good enough to get back to me and I greatly appreciated the response. I also watched this video when it first came out. I told you at the time how I was interested in economics and that you presented it all in a way that is accessible and relevant. I just wanted to say that I continue to learn from you and appreciate all the videos and insights. Thanks so much for everything, keep up the good work.
I’ve watched all your new videos since I found the channel a couple of years back but have never watched the first one, so this was much appreciated!
The inflation prediction hit hard 😢
Keep up the good fight!
Great video. must feel pretty good about being able to be correct in your analysis. Well done.