Inflation WILL Fall This Week
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- เผยแพร่เมื่อ 20 ก.ย. 2024
- Don't believe the media hype: inflation will fall but it won't make a big difference to your life.
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Performed by Gary Stevenson
@garyseconomics
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It is Wednesday my dude, and you were so right with this video, even the PM tried to claim this as one of his "wins" while announcing the election. What a clown show.
Either he was lying when he said he had nothing to do with inflation being so high, or he's lying now when he says he brought it down.
The fact that you have money and you’re choosing to spend your free time telling people about your point of view is really commendable. Keep on Gary
yeah and he had choices. He could have become the next Andrew Tate and drive around with his flash Bugatti. Instead he is in his modest flat, with wallpaper from the 80s and basic kitchen. Love it lol!
@@jungleboy1 his target audience aren’t teenagers
Yeah, that's all grand, but still he is just talking about it. Most of his videos are basically "we need to fight the rich... we need to tax the rich... we need to reduce inequality..." but he never gets to the point! How are we going to do that? How would he do that? Whats the plan?
@@NEOmnius I agree mate, I’d be surprised if Gary isn’t thinking about this - I’ve seen this comment quite a few times so surely it’s got to him
I think his position has been fairly well established, tax wealth especially assets owned by super wealthy individuals.
I think he avoids saying it out loud so that it doesn't cause dumb fiscal conservatives to freak out. He'd rather just point out facts then slowly allow cognitive dissonance to set in and allow them to come to their own conclusions.
The fact the news doesn't make this clear is such a failure of the media
It's only a failure as in the concept of the importance of a 'free press' in a genuine 'democracy' - the truth being that there is no such animal in reality!
They're not failing at all - you just don't understand what their objective is. Who owns the media ?
You think the media works to inform you? Oh....the media is doing exactly what it's meant to do
The media existed to manufacture consent even when they did a more thorough job of covering their issues.
The media are the problem... They represent the interests of the global rich, drive the political process and "own" the politicians. It makes no sense to trust the media because their mission is to either cover up the truth, or lie, or both. And it works. Goebbels was good at this tactic - it's called propaganda.
BIG RESPECT from Bulgaria to YOU, Garry ! You are ONE OF US, the PEOPLE !
which Bulgaria - ? the poor or are you from the rich ? - the thugs ?
Economic inequality is Bulgaria is about the same as the UK. Corruption feels very similar to me as well.
@@keepcreationprocess if I was from the thugs, how do you think, do I will be fan of Garry ?! Unfortunately (for me) I am from the people. Simple logic.
@@ivonnikolova503 No, it is not that simple nor logical. you don t know what working class is. You don t have major debts. You have freedom even when you don t work - you have a home. It is not the UK. where you can t go nowhere. You don t speak sound like the working class.
"The purpose of learning economics is not to learn a set of premade answers but to avoid being deceived by economists."
Who said that?
It's as if they think we're all stupid. Cheers Gary.
they aint wrong
Sadly many are.
We are....
It's as if they know enough people are stupid
They work on the basis that they can convince enough people to vote against their own best interests, divide and conquer. Just look at the culture wars for a current example.
“You are either investing or letting inflation eat away at your purchasing power” saw this somewhere and it really resonates with me. I have about $300,000 sitting in a HYSA and I want to invest it. Where would you invest this as of now?
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of…. Seeing my portfolio go from $80k to $600k in 5 years is surreal all thanks to insights from my financial advisor.
Who is this person guiding you and how can i reach he/she?
She goes by ‘’Melissa Elise Robinson’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thanks for sharing. I searched her full name and found her website instantly. After reviewing her credentials and conducting due diligence, I reached out to her.
gary is by far the best economist on utube, others are pushing bs ideology that make no sense
Agreed but he does fail to mention the impact of high net migration on the availability of housing
Not ProfSteveKeen.
@@CCP_Operativebecause it's not that big a deal when you compare to the number of births.. you think immigration is high? How about 140 million people being born every year?? immigration is NOTHING compared to natural population growth.. immigration is a convenient red herring that politicians use to get you mad and to divide us.. stop letting them divide us and THINK! Use your fucking brain!
Only because I'm not on Ytube;)
Try David Harvey.
Also to not forget* Gary went to LSE, so think about looking lord giddens , David held and even the likes of george soros who all attended lse, and have lectures on youtube.
* edit i forgot to include the word forget 😂
Oh look, Rishi sunak is taking credit for inflation falling and now will apparently call a general election this afternoon. Came back and Subscribed.
Already seeing multiple news channels talk about how on Wednesday we’ll see that inflation is down and everything is great. Thanks for the work Gary keep spreading the truth!
And Gary amongst others it has to be said is predicting inflation rising later in the year. So watch the media blame Labour for inflation rises in autumn and winter when we know it will happen regardless.
This is hillarious. You were 100% correct.
As he said himself, a lot of people knew this would happen. Anyone with a bit more economic knowledge knew.
I started watching him a while ago, and I also got his book.
His basic message is we need to tax the rich... we need to fight the inequality. I was waiting for his new videos regularly, and he basically parrots this all the time, but he never suggests any course of action! He never says which way could taxing or fight against the rich could be done?
@@NEOmnius Sure, but I was thinking more how disingenuous the news reporting was in that regard. I don’t know how many people know how inflation works and how it is calculated and I haven’t seen mainstream media taking it upon themselves to explain it. I’m not an economist and I didn’t know how this exactly is reported. As for how to go about taxing the rich? Gary said in number of videos to pressure your local MPs. There is even an email you can send to your local MP. Taxing the rich really is a matter of a new tax legislation. It’s not a rocket science. But in the UK that is very unlikely to happen at the moment, since the politicians ARE the rich or in some way connected to them. Least we can do is to get the electorate to talk about it. Maybe change the mindset of the rich themselves, that if you have less wealth inequality, it is for the benefit of the entire nation and its economy.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
Impressive can you share more info?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Brilliant black eye analogy. 😂
I agree. Love an analogy, especially when it punches Sunak on the nose so eloquently.
It is and isn’t. Once the swelling goes down while you will have the memory of being punched you will have no lasting effect. With inflation the effect lasts beyond the passage of time.
@@Jake-hb8ek Until you get punched again.
How do we go about taxing the rich then in reality, what does it look like. If no party is serious we will end up in a constant spiral no? Politicians funded by the rich who want to keep it how it is, what’s the counter attack?
Basically what are the actions that need to happen to make your words reality. Happy to share your content as you suggest but it will most likely fall on deaf ears, what party would affect this change and how would they go about upsetting the status quo.
Love your content but it makes me feel even more helpless rather than being ignorant to it (ignorance is bliss!) if you know what I mean. Cheers
@@TheMainhoodit won’t ever happen. Even Labour are funded by business. What we really need to do is get executive pay under control. I don’t object to people getting good pay but I do object when it comes out of the general workers pay packets. Basic rule of business is that you only do something if it saves you more than it costs or it makes you more than it costs. If it dosnt do either of those 2 things then don’t do it.
Now when you take that on board you only employ people when they make you more money. So take someone building cars, if you double your workforce you double your output. So when you have an exec paid 10million and your workers are paid say 30 thousand this guy has to personally make the company 333x more revenue (not profit) than the workers on 30k. Logically that dosnt stack up. Hence my assertion that we should get exec salaries under control. I’m not talking about capping them but more that if you have an exec that’s paid 10mil then his workers must get paid something proportionally similar. Making extra profit isn’t hard when you just sack a ton of staff, less costs = more profit but you’re affecting revenue and future company profitability for the sake of short term profits. Not exactly big brain requirement.
Only thing that truly matters is real wages (after taxes) vs what prices you see at your local grocery store + housing.
Nothing else matters. Don't be gaslit by the media into thinking you're not getting robbed in broad daylight.
Yeah, they want you to thank them for making things more expensive, but not "as quickly" as they could. It's mad!
Don't forget the next general election is not far away. The largely Tory controlled media will try to project a good news story so that the easily distracted will vote for them. Labour would do exactly the same, Don't vote fir either, as George Ga,lowly says, they are two cheeks of the same arse or the Uniparty.
I disagree, value of the currency on the world stage is just as important as real wages. Edit as most of our goods are imported.
Look up Real (after inflation) wages if you want to see something depressing.
Since 2008 weekly wages have gone up by something stupid like £10
@@Oldmanpeace still ends up being us buying goods in this country with our wages though
Boom Gary! And here we are. Great video as always. You're the voice of reason and sense in this economic mess we're in.
A really important point about not fleeing to a "better place". I've noticed a trend where middle class people who are realising their money isn't going as far in Western countries, move to East Asia and similar places and live in "relative" luxury. However, this prices the locals in that economy out and basically passes the problem of wealth inequality on to them. I wonder what UK house prices would look like if foreign millionaires and billionaires had never purchased property here as an investment vehicle or simply to have 5-6 homes they don't use
Don’t blame them
@@369dabbler Billionaires are leeches of society. Your water bill, utilities, food etc owned by multi national corporations or billionaires, your money leaves the UK, it ends up in a shell company or tax haven, so tax free or low tax. The government borrows to make up the shortfall, creating interest payments to the banks. Once the government are in debt (£2,86 trillion in the UK by Oct 24) they must borrow more to keep up the interest payments, and so the cycle continues.
Absolutely right- there is always a global knock-on effect. No country is immune
"Rishi Sunak and conservatives claim credit for the passage of time!"
This is such manipulative bullshit.
But a realistic description of the way the Tories spin every slight improvement as a sign of their wisdom and competence... and every scandal, disaster, scam, corrupt practice, etc., as the fault of someone else...usually Labour, the 'woke' mob, or Hamas. lol
@@curmudgeon1933 Not just Labour, but Jeremy Corbyn specifically.
@@curmudgeon1933Labour would do exactly the same if they were in power and the Tories would be calling them out on it. Two cheeks of the same arse.
Labour can't, on the one hand, blame the Conservatives for causing inflation and then not give any credit when they , the Conservatives , claim to have brought it down. Labour can't have it both ways can it ?
@@johnristheanswerOh you haven’t seen a thing yet. Here in Slovakia we have politicians requesting to defund some government agencies because they support also LGBT projects, then turns out the person being vocal about it is using these agencies money to publish LGBT projects via his publishing company. You can literally say anything in this country and it won’t matter. And I feel like UK isn’t way different, considering the whole Brexit joke.
I love the comparison of "I can reduce the swelling in your face over the next 3 months" 😂😂
I've been crying out for u Gary; someone who leans a little left, genuinely cares and can explain this stuff to the masses. Hope you can grow your influence and more people start to hear u 🤞🤞🤞
Watching from Australia 🇦🇺 Thanks for sharing!
Gary always hits the nail on the head for explaining economics to the layman. Keep it up!
@@tdc7 how’d know I’m not referring to his previous works? I can continue watching the video and commenting?
@@tdc7 Thanks for the English lesson.
Gary it's Wed 22 May its 7.20am and the News just like you said ' Inflation is down ' was the announcement, you are bloody superb Thank you you read these arseholes so well we are Blessed to have you. X
The black eye analogy was brilliant
Excellent commentary on inflation. Key take away: celebration of the passage of time....don't let them do it. Like it!!
You should get Yanis Varoufakis on for an interview. I think you two would get on like a house on fire 🔥 amazing video as ever Gary. Thank you for making them x
Great idea - will be storming
Yes for Yanis and Gary
I would be very into that
I'd be worried. Govt agencies may send a hit squad.... Varoufakis got blocked in Germany recently. They really dont want people like Gary to speak out.
Gary, there's a great number of suscribers who believe in you, how on earth can we change inequality, something that has been going on forever?
Don't look to one person to be your saviour. We need a societal change, and that only happens when everyone comes to the same understanding of the situation. So go and share these videos with your friends and family and coworkers. Talk about the issue and try to make people understand.
Then maybe in a few years we'll get better independent candidates and we can vote for real change
th-cam.com/video/FWJSdrcdxFI/w-d-xo.htmlsi=-tTQ7FerCAcvFofS
Too the barricades!!!! 😂
share this video
The short answer is the workers need to own the means of production. It's the only way.
So in other words, it’s not that inflation has “improved”, it’s just that it’s gone up slower in the current 12 months than it did in the previous 12 months.
Yes. Aka Disinflation
no, not disinflation, prices are still rising just at a slower rate then before
@@Magnerz25 Yes... Disinflation. You just disagreed with him and explained what disinflation means lmaooo
@@sefyboy7183yeah, fair enough, he was correct with his original comment
@@Magnerz25
The different terms they like to use:
Inflation
Disinflation
Deflation
We are all here to learn and understand the economy better.
I know the economists love to use different jargon and maybe it’s to confuse the masses.🤔
As a Brit living in Austra for the last 14 years, I agree with Gary, wealth inequality is a global problem. Price gouging in Austria over the last two years has added at least 30% to a typical supermarket bill, and property prices are often unaffordable for the young.
But in addition to bringing back higher taxes, what I ask myself is:
a) How do we reign in the extremely high earnings of "executive" (no around 300 times a normal wage)?
b) How do we reintroduce controls to financial markets again, to prevent double digit annual earnings on passive income?
Some of these things are patently obvious to some, but I guess to others who don't realise they are being fed ultra biased/incomplete information, this information needs to be clearly pointed out. Well done Gary.
Saw it this morning on the news after your video, I haven’t laughed out loud like that in a while. I wish more people knew this information. Directed a lot of people to watch this video already this morning! Thanks for sharing your knowledge!
And Rishi has just called a general election on this alone!
who's back after bro was right? 😂
Yep - spot on.
Another piece of the financial jigsaw puzzle unearthed Gary, thanks. Though it was based upon last month, last quarter and last year’s quarters.
For me this is an important nugget of information. You’re correct concerning wealth distribution and need to go political with this because people collectively need to be led, they want to be led!
Yet another excellent piece Gary Thank You.
I am from Malaysia and I actually agree with Gary!
I discovered you about 2 months ago and now i'm obsessed - I'm telling everyone about you and just trying to spread the word - you actually blow my mind with a lot of the things you say and this is just a prime example - why doesn't the media explain it like this it genuinely upsets me how the so called honorable MPs are so dishonorable and deceitful - I'm not very smart but I've somehow managed to do OK but you're making me understand a reality I guess subconsciously knew existed but you're definitely helping me to see it clearer thank you keep up the great work
I love how the Tories are taking credit for something that was predicted two years ago.
I love how you think it's just the Conservatives who would do this.... Labour and Conservatives are two wings on the same bird, chap. Don't fool yourself into thinking Labour are any better than Tories..
@@richardashworth400can’t wait for labour to get in, so they finally shut up and realise, the whole bird is broken.
@@paulwhalley6789 Nope it means that we should all be voting for someone different than the Tories or Labour (and Lib Dems) because they are all 'sponsored' by greedy businesses and the rich and over entitled. And it's actually that whole, 'there all as bent as each other' is what the Tories and Labour want people to think because that keeps it a two-party system. What this guy Gary and others have been saying for years now, is that it's time to get rid of these two, and if the next two are 'as bent as each other' then we need to vote them out as well come the election after. And WE the public need to stop our voter apathy and push for no more sponsorship by the rich.
@@richardashworth400 I love how you think that you have me figured out on a few words in a sentence.
What political party will make the change Gary? This a policy thing from you or something we all need to do like an uprising?
Here in NZ we have a new National (Tory) govt about to introduce their first budget. Top of the list is tax cuts - and they are culling large numbers of government employees and infrastructure projects to partly fund it. Same old... House prices are 11 times the average National income. Doctors had a strike last week, nurses a few weeks back. The new PM is an ex CEO who thinks he can run the country like a corporation.
CEO's are only interested in profit to expand their wealth hence percentage pay rises expanding gap year on year.
Watch his old company and companies he dealt with get rewarded by the government.
The situation in NZ is alarming
The problem is adern didn't do anything to change the situation, not really a social democratic government. The same will happen with kid Starver, people will expect left wing measures and we'll get the same neoliberal nonsense
Cutting Government jobs only helps the rich, Government wages are all spent in the economy and produce tax revenue . when it goes to the rich they buy assets like houses and increase house prices and money is not taxed . This increases gap between rich and poor, same happens with outsourcing and privatization !
Economics will remain a political football and source of easy headlines because basic knowledge is not taught in schools. Most who do learn it do so in adulthood. Basic economic literacy should be on the core curriculum, but no government will ever mandate that. The rich possess this knowledge and use it against the rest.
I agree, but most state school kids will ignore it because it will have to be taught in a non-political way and will therefore be dry, boring, and something many kids can't relate to. Economics is life, and Gary is so engaging because he joins up the dots for ordinary people and is an excellent communicator. Maybe Gary should visit schools and tell them why this is important for them.
Knowledge is power
Fat chance that you will get British school kids bothering with economics when many can't even read or write or do basic maths and couldn't care less Economics is the preserve of the middle class private schools and universities. Gary is unique in his study path and career.
right on the button geez, on the BBC website today!
Loved your book, haven't got through one that fast in years. Looking forward to binging your youtube!
Thank you for sharing this Gary.
Inflation doesn’t increase prices, it deflates the value of the currency. The tin of baked beans in the supermarket isn’t going up in price, the currency in your pocket is decreasing in value. The word ‘inflation’ is something of a misnomer, it is in fact the ‘deflation’ of the currency.
No. If it was deflation of value of currency then we would be measuring it in negative percentage growths representing the change in purchasing power of some amount of currency over a period of time. Either way, it's describing the same thing: loss of purchasing power of a given amount of currency. The distinction is meaningless, you could track it either way.
Another Sunday video lovely , with a beer and popcorn in the garden
Great video Gary! Love the idea of you sharing news before the news to help us see through the veil of what media companies profess. Keep up the great work!
Also Big up the 'Gary's Economics' Community for putting in the work and sharing it with the people around you. There's big shifts happening on the planet and change is afoot.
Thanks for the knowledge.
And he nailed it. keep nailing it!
Great video Gary. Lower inflation will allow BOE to lower interest rates (although they only appear to follow the Fed and whatever they do). Lower interest rates will help the public at the start but this will lead to significant Asset price increases (as Gary has said before). We need the political change of taxing the rich, but while we fight for that I assume the Trade will be to go long on Assets. This is not just my opinion, this is my position.
I am from Mexico, greetings from Latin America, you are a crack at what you do, thank you for taking the time to teach us
Everyday is a learning day, thanks gary, i have read your book and found it insightful and phenomenally written, keep doing what youre doing, teach the world
#GarysEconomics
Thumbs up from the Netherlands!
Love your work Gary and i will share with all who will listen ❤
Thank you for your insights it is very helpful! The same thing is happening where I live in Canada.
*Hi Gary, Question:*
10:30 Why isn’t part of the problem the lack of housing policies in the respective cities/countries? There’s lots of mechanisms taking place so that people cannot afford a place to live anymore, e.g.: no construction, developers/rich people buying up land/properties rather to speculate than put people in there. If policies didn’t allow these massive speculation schemes or at least severely restricted them and made sure enough affordable housing would be built, people would very quickly be far better off, even before new national tax systems get introduced.
Would love if you could iterate, or someone else in the community lost a few words regarding the topic below this comment 🙌🏼
I’m here on the 22nd May and Gary is correct. Front page of BBC news website
Good stuff Gazza. The only honest economist on TH-cam
Morning Gary. What UK party would you say gets us going in the right direction?
Love what your trying to do. Please please keep it up. I will be shearing this with friends and family.
Listen to the last 90 seconds
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
@VilleHeikkinen549You are right.
But I don't know why people remain poor due to ignorance
Is there anywhere I can get across to this woman for a startup?
I really appreciate it
Is not about watching videos and wasting your time on strategies, I was ignorant of doing so...not on till I gave Grayson Amelia a try and ever since then she has changed my story for the better.
I'd love to see some collaboration between you and Richard Murphy. I find his videos explaining how wealth is transferred from nations and it's peoples into the hand of global private enterprise really complement your videos explaining how this wealth transfer impacts economies more generally.
Thanks for explaining what inflation rate is falling truly means.
I think one of the other things is inflation falling does not mean prices are falling it just means the rate of increase is smaller. For example a 2ltr pepsi max was £1 and then doubled in a year to £2 if inflation havles the price after would be £3, so it's increase will feel exactly the same when your wage has barely budged.
Only - you can't keep saying inflation is only increasing more slowly, if inflation has peaked within the cycle, overall it means Inflation is lowering - at what point do you acknowledge inflation is coming down?
@@markturner5534 inflation is coming down but prices are still increasing it's that simple
Great point and one that millions don't get
So many people don’t seem to understand this simple point and politicians don’t want to explain it either.
@@Petersworld77 only the calculation is wrong! If the inflation value was 1 pound - doubling the drink to 2 pound, and inflation halved that means the drink would be £1.50 not £3, the remaining value of inflation after it halved would only be 50p.
No wonder people continue to say inflation isn't really falling, they haven't got a clue.
Thanks Gary. Really useful information.
9:28 my man went to say "not a function of..." then rephrased it so that people didn't switch off or get lost
Committed to communicating truth to as many ordinary people as possible. No need to flash his intelligence.
Fucking King
Hey Gary, fed up Canadian here and I just found out about your channel a week ago. Amazing stuff! Thank you so much for sharing your insights!!
Another great video Gary! I love your clarity and your simplicity in putting your points across. Thanks a lot and keep up the good work.
Celebrating the passage of time-love the clarity. Gary is giving me the enlightenment to be able to critically analyse the political manipulation.
Love the detail. I've been informally learning economics since the GFC. I wish you'd started this channel back then, I would have learned so much quicker. This knowledge is so important for everyone to know. Keep going mate!
Gary was a 21 year old junior trader at Citibank at the time of the GFC, not sure he would've been as useful back then!
He doesn’t miss! 3:08 🔮. But on a serious note, it must be incredibly frustrating watching the media like the BBC play with the public in the way they blatantly report important information in a misleading way. I’m glad I’ve found this channel
I agree in some ways Gary that it wasn't the government that caused the inflation, however the way it was dealt with was wrong, almost half of inflation came from increasing profits the rest from supply chains, but rather than doing windfall taxes, investing in our own capacity to take up the slack etc. The government did nothing and BofE raised interest rates, punishing the people who had nothing to do with inflation and were suffering most from it. Doing noting to inflation, as this inflation was not caused by people spending too much in the economy because they were flush with cash. They also said people shouldn't take pay raises even though that was not a driver of inflation and the highest increase in wages was followed by a decrease in inflation. I agree leaving the country is not the answer and no country from my knowledge did the economically literate thing.
Raising interest rates is standard practice to combat inflation. To corporations, debt is cash. If interest rates are low, the cost of debt is low, so corporations can acquire more cash and accelerate business. If interest rates are high, new loans taken out to pay off the interest of old loans are now suddenly more expensive down the line. Hence less money is available to accelerate business, the economy slows down, prices must become competitive because nobody has as much cash to buy things. Presto, inflation slows down.
Wow, called it! First thing you see on BBC, inflation down to 2.3% Keep up the good work!
2nd thing you see....sunak claiming his plan is working
Does anyone know what happened in 1971?
Was it the collapse of the Bretton Woods System?
I was born!
On Aug 15 1971 Richard Nixon departed from the Bretton Woods agreement and “temporarily suspended the convertibility of US dollars into gold”.
USD’s value began to decline. Western Central Banks were instructed to print more money to stabilise USD.
In late 1973 Henry Kissinger struck a deal with Saudi Arabia to only sell oil in USD. This created demand for the USD, in particular Japan and Germany who were leading industrial powers, therefore needed to purchase oil in large quantities.
@@cki0 the UK left the gold standard in 1931
@@cki0Yes, a very important factor. When gold was used it did not favour a currency . The deal for you refer to reflects Brics aims in general.
I love your channel. Thank you Gary.
Thank you Gary for explaining
Gary you also need to campaign for proportional representation in order to affect the change you’re after at the legislative level.
Careful Gary. If the same bad things happened in every country, because the respective governments all did the same thing; they are absolutely responsible.
Even if it was caused by others such as the super rich etc, you don't get to be in charge of entire countries and not take responsibility for not enacting policies that protect the people.
Point taken but that is why he advocates for wealth taxes, which not many governments do to the extent needed.
I'd say it's because virtually every government dances to the tune of those who hold wealth.
Thank you Gary. I've learned so much from your videos and gained a vastly improved undrstanding of the ecconomic situations we are facing. I feel better prepared now for the future.
Love your videos, thank you
now a regular follower and an avid listener and follower! Thank you Gary
Wednesday here and guess what, inflation dropped and its in the news
We’ve got your book and we are giving it to people for their birthday! Barb. Thanks
RE: Sunak and the black eye analogy: to be fair, he does need to ensure he doesn't punch you in the face again!
Just finished your book, I am not sure if I am more impressed by your 5k PB in Tokyo or your trading on the STIRT desk!
Man this prediction hits even hard with the general election being called on the day that annual inflation has "decreased" with Mr Sunaka taking all of the credit 😂
This is great! We need more like this - videos explaining how economic data is manipulated or strategically ‘interpreted’ to push Establishment narratives.
Gary you was right! But you didn’t mention that a general election would be called!
Garry as always dropping CRAZY KNOWLEDGE FOR US!
Thank you for continuing to support the underdog (us) Gary ❤
Hi from Adelaide SA
Absolutely love this video, Gary. This is the exact thing I have been discussing/debating with nearly everybody that I know.
People are out here celebrating a drop in inflation which is a roundabout way of saying "prices haven't gone up as much this year" but the average Joe hears "prices will be coming back down".
Thank you for your continued wisdom, Gary.
Thanks Gary, sometimes you just need to hear it said out loud. MP’s are a waste of space.
11: 10
Greece,Athens too...
The prices of those houses is absolutely insane... because of the rich....! not because of planning and building policies !
Bang on Gary! No political bias in your campaign to reduce inequality through taxing wealth more and work less..
One thing you didn't tell us was that Sunak would tap out and call a general election for July. Lol.
Amazing video!
Could you do timestamps? It'll improve with retention and make your videos more popular.
Happy to do it for free for you
The drop out of the previous "energy price cap" was key!
started of not diggin your vids and thought you were a woke lefty but vid on vid the penny is dropping and Im with you. Thank you for the content.
New to the channel here, you’re reaching Canada for an audience. I am glad somebody out there is trying to use their knowledge and insight into the inner workings of things. You’re not asking for thumbs ups and subscriptions which backs your narrative. Keep up the good work. I enjoy learning in plain language how economic, and trading related material works from someone who has experienced it in the business world. Thanks 👍
Thank you Gary. 🏜🕺🏻🐕🏖
Thank you, Gary. Cheers from Australia.
I really don’t understand why the politicians won’t help reduce wealth inequality particularly when inequality is at such extreme levels
The public school gang have taken over since most Grammar schools closed, they are rich and have rich chum's , how could Cameron charge 120k an hour for speeches if they were not getting influence, both Cameron and Blair watered down building regulations to enrich chum's.
Because they are rich greedy bastards.
Because it's beneficial for most politicians to keep it going, have you seen the PM's net worth?
they're just defending their class interests like everyone
@@zodd67 Think he would be just as rich if he stayed in bed lol