Great to see you bring this level of thinking into your podcasts. You're making really watchable and thought-provoking content. Shame the main TV channels can't match you.
It was great until they started on this eco taxes . I guess they have never been poor working class . They probably believe that even the lowest paid worker has £250 disposable income a week . Don’t even start me on uni fees- they will earn more . Why should the poorer half of the the country pay for the other half’s education and then watch them earn. 3 x minimum . Seriously that last bit was typical student politics - very disappointing. But not disappointed enough to unsubscribe
This is such a good conversation, one of the best. Keep up the amazing work guys you are smashing these podcasts. Best financial literacy content. I just wish this type of educational content was available when I was in school.
I would assume it's the viewpoint that bitcoin has no inherent value in itself therefore any value is purely generated by those buying it after you which is effectively the same as a ponzy scheme. It works as long as you can find someone new to put their money it but if you're the one left holding it when that stops it now has zero value. And one of the hosts has historically been active in crypto and usually gets ribbed about it.
Great conversation. I think the philosophical approach is a valuable way to balance out blind economics and ensure that the focus stays on long-term welfare. Money is a tool, it has no value on its own and that's a strong message to pass on
Not sure about everything that's wrong in today's society but certainly the hype around climate change. Erik talks about the financial fraudsters but misses the fraudsters under his nose regarding AGW. It's the university research ecosystem that's driving this, aided by cancel culture (fear of losing your career). The scientific fraud is frightening (think COVID - now sit back and wait for denier accusations!).
He certainly has some shortcomings in his viewpoint. On one hand he talks about avoiding the financial fraudsters then on the other is not recognising the fraudsters pedalling fear porn such as the AGW advocates. He needs to recognise (as others such as Dr John Campbell most certainly has) that the present scientific process is corrupted by vested interests and is kept this way by the tyranny of cancel culture that is terrifying younger researchers about losing their career if they say the "wrong" thing.
Had me until the small boats comment. 'Small' boats are costing the UK taxpayer over 7 billion a year and rising. Thats more than all the tax rises and cuts made by the government in the last budget. 600 people came in a single day last week. At that sustained rate it would be 200,000 people a year aka a total disaster for our society.
Where did you get that figure of 7 Billion from? The last budget aimed to raise 40 Billion.. Since 2018 total migration from the channel crossings hasn't yet reached 150k, so to think it would rise to 200k in a single year is ludicrous 😂. The small boats issue is an emotional weapon the right wing media wants you to focus on. Just look at the Brexit they gave us..
@kaymilstead4374 where did you get that figure? I'd genuinely like to see. Also, I think you mean asylum seekers.. once deemed "illegal" they are no longer entitled to tax funded accommodation and either asked to leave voluntarily or detained and deported.
The irony of him bringing up the research on highly qualified academics and their downfalls, as a PhD economist and philosopher. Rather learn from people like Bezos, Musk, Gates, Thiel, Vogel, Simons, and Buffet etc. Who aren't studying economics, but creating economies and profiting off of them. Regardless of their politics. Look at their results.
50:21 I wish that were always the case. However, here in America a lot of people are threatening to bring us back to the dark ages of in terms of vaccines.
Brilliant conversation, again! A massive thank you for all your content. The number in the bank may not have changed too much yet but I know the foundations of my financial future are now in order thanks to you both
No one said you can't. He literally said if you don't know what you are doing then index funds are clearly your best option. Hard to disagree with that no? Also, when people say 'most people don't beat the market', it's pretty obvious as part of that statement that some people do, it's just a question of whether you have a good chance of being that person. If you don't have expertise and time for study you'd have to be pretty arrogant to think that you will beat the market. If not then great, go nuts
I feel some challenge on crypto as an investment may be good - i.e. index funds as your base, however, crypto as a small part of your overall investment is not a bad idea (managed pension funds have started to do this)
Great to see you bring this level of thinking into your podcasts. You're making really watchable and thought-provoking content. Shame the main TV channels can't match you.
Thank you!
Great work lads, as a doctor I had very little financial literacy before I found your channel - massively appreciated,.
Thanks so much, comments like this mean so much to us
Fabulous interview!
Thank you
The carbon tax wouldn't work because like all cost increases it would still be pushed down to the consumer and paid by the guy at the bottom.
It was great until they started on this eco taxes . I guess they have never been poor working class . They probably believe that even the lowest paid worker has £250 disposable income a week .
Don’t even start me on uni fees- they will earn more . Why should the poorer half of the the country pay for the other half’s education and then watch them earn. 3 x minimum . Seriously that last bit was typical student politics - very disappointing. But not disappointed enough to unsubscribe
Great questions and fascinating answers.
Smashed it, no idea why it's taken till now for (academic) economics to be put into proper context. Very helpful and from an economist no less
16:05 paraphrasing "confidence != competency" .. we as species fall for this way too much.
This is such a good conversation, one of the best. Keep up the amazing work guys you are smashing these podcasts. Best financial literacy content. I just wish this type of educational content was available when I was in school.
Thank you so much
Damo
Really enjoyed this one!
Great guest and great episode. Probably my favourite yet.
Absolutely loved this conversation. What a charming and interesting guest Erik is.
Can someone explain the bitcoin comment?
I would assume it's the viewpoint that bitcoin has no inherent value in itself therefore any value is purely generated by those buying it after you which is effectively the same as a ponzy scheme.
It works as long as you can find someone new to put their money it but if you're the one left holding it when that stops it now has zero value.
And one of the hosts has historically been active in crypto and usually gets ribbed about it.
T lost 8k on crypto a while ago
At some point crypto will fail. Either due to qunatum computing, or something much more fundamental. And the rug pull will be massive.
@@dafruk1It’s called the “Greater Fool Theory Of Investing “.
You need a bigger fool than yourself to pay you more than you paid for it.
I pity the fool@@kw8757
Going to start a business selling 1/8th pounder burgers
No boyz . Just. no . The co2 taxes and all other taxes just gets added to the end users bill - like what’s happening now in UK
Great conversation. I think the philosophical approach is a valuable way to balance out blind economics and ensure that the focus stays on long-term welfare. Money is a tool, it has no value on its own and that's a strong message to pass on
This is a podcast about clear and critical thinking. We all need this good quality education.
More of this!!
I love this gent. And he looks like a blonde (original) Clark Kent!
🖐🏻 YES 💯
Just much much gayer...
God alone knows where you dug this thing up from he is the very embodiment of what is wrong in our society
Very dramatic way of saying 'I don't agree' 😂
@bumblebee9288 - Why do you say that?
Not sure about everything that's wrong in today's society but certainly the hype around climate change. Erik talks about the financial fraudsters but misses the fraudsters under his nose regarding AGW. It's the university research ecosystem that's driving this, aided by cancel culture (fear of losing your career). The scientific fraud is frightening (think COVID - now sit back and wait for denier accusations!).
He certainly has some shortcomings in his viewpoint. On one hand he talks about avoiding the financial fraudsters then on the other is not recognising the fraudsters pedalling fear porn such as the AGW advocates. He needs to recognise (as others such as Dr John Campbell most certainly has) that the present scientific process is corrupted by vested interests and is kept this way by the tyranny of cancel culture that is terrifying younger researchers about losing their career if they say the "wrong" thing.
Had me until the small boats comment. 'Small' boats are costing the UK taxpayer over 7 billion a year and rising. Thats more than all the tax rises and cuts made by the government in the last budget. 600 people came in a single day last week. At that sustained rate it would be 200,000 people a year aka a total disaster for our society.
Where did you get that figure of 7 Billion from?
The last budget aimed to raise 40 Billion..
Since 2018 total migration from the channel crossings hasn't yet reached 150k, so to think it would rise to 200k in a single year is ludicrous 😂.
The small boats issue is an emotional weapon the right wing media wants you to focus on. Just look at the Brexit they gave us..
£6.4bn is the cost to the UK taxpayer of housing illegal immigrants in hotels etc
@kaymilstead4374 where did you get that figure? I'd genuinely like to see.
Also, I think you mean asylum seekers.. once deemed "illegal" they are no longer entitled to tax funded accommodation and either asked to leave voluntarily or detained and deported.
Poverty is a disease. What’s the cure?
Wealth and prosperity!
Who create wealth and prosperity?
Entrepreneurs and businesses of all sizes!!
An economist will tell you what happen in the future and then they will explain to you why it didnt!
If they really knew anything about economics or money they would all be billionaires, but they are mostly broke academics...
The irony of him bringing up the research on highly qualified academics and their downfalls, as a PhD economist and philosopher.
Rather learn from people like Bezos, Musk, Gates, Thiel, Vogel, Simons, and Buffet etc. Who aren't studying economics, but creating economies and profiting off of them. Regardless of their politics. Look at their results.
50:21 I wish that were always the case. However, here in America a lot of people are threatening to bring us back to the dark ages of in terms of vaccines.
Brilliant conversation, again! A massive thank you for all your content. The number in the bank may not have changed too much yet but I know the foundations of my financial future are now in order thanks to you both
Your content is inspiring. How can I contact your team? 😊😊
Thank you! Our email is in the description: makingmoney@getmost.co.uk
Those that fail join the herd and justify their failure as "you can't beat the market"
No one said you can't. He literally said if you don't know what you are doing then index funds are clearly your best option. Hard to disagree with that no?
Also, when people say 'most people don't beat the market', it's pretty obvious as part of that statement that some people do, it's just a question of whether you have a good chance of being that person. If you don't have expertise and time for study you'd have to be pretty arrogant to think that you will beat the market. If not then great, go nuts
I feel some challenge on crypto as an investment may be good - i.e. index funds as your base, however, crypto as a small part of your overall investment is not a bad idea (managed pension funds have started to do this)
Sat here laughing having just paid .my mortgage off due to my Bitcoin investment 🤣
Proof or it didn’t happen.