I'm 50 and have worked all my life up to what I used to think is now a decent salary and I entirely agree that I have more in common with the man/woman on minimum wage because that's where I was 35 years ago and I'm still struggling albeit less so but paying 50% tax. It has taken me this long to become enlightened about what wealth truly means and I am so glad that the internet exists, TH-cam exists and this type of content is available now to the masses. The only way change will happen is through education and spreading that knowledge in an understandable manner to the many. This is what you are doing and I commend you all for doing it. Keep up the good work. 👍
They've been trying to make the middle class disappear and the poor poorer since the Thatcher/Reagan Neoliberals took over everything, they've increased their wealth by 40%+ and everyone else lost 40% of spending power. Speaking of education, that was also a strategic agenda on their part.... to make each consecutive generation dumber... they don't want them to know how to think critically, how money works, how to be an entrepreneur, how the rich (and those private Mafia Central Banks) steal from you or what your Rights USED to be or what is TRUE which is why the media endlessly lies to you. Just keep your noses in those cell phone social media inanities, bolster narcissism based on nothing, destroy local businesses by buying on Amazon and remain passive, confused, distracted and fearful. I'm 75 and have watched this plague upon humanity for the last 55 years, the consolidation into monopolies of everything that used to be local, family run and created solid, compassionate communities. They can't have that you see... not when they want to control everything ie; EVERYONE on planet Earth: food, water, oil, land, air, minerals etc. and YOU. This is the Great Reset that NO ONE volunteered for. 😡
That's the fault of our education system, I am a little older than you but in my late 40s I began to study how the wealthy got wealthy and it is about buying assets and keeping them in a limited company. Tax is paid on profit, so the trick is to not make profit but have cash flow. Look up cash flow quadrant and the Prussian education model.
Somewhat, if you’re paying 50% taxes, you can’t truly relate to being on a true minimum wage (even if you were once on a minimum wage). However, it’s important to empathise. Money comes and goes, so it’s definitely important to be grounded and appreciate when we have it and remember those who aren’t as fortunate (because for many it could be us). Peace!
@@hannah60000This is one of the fallacies they use to divide us. Why can’t he relate? I am 51 - I earn £200k a year (now). My secondary school closed down in 1988 from lack of funding - there was a riot with what we used to call ‘paddy wagons’ - police vans - that broke up a riot and kids throwing rocks threw third floor windows ( a nice racial slur there from the 1980s). I grew up in an area of east of Birmingham where brain donors from the NF and BNP used to roam around and just smash anything they could. Despite this I worked hard to get A levels and then Uni paid for by taxes from my mum and dad and every mum and dad in the UK. Then I worked to become an expert in one very specific area of IT which required ten+ years of 80 hour weeks. Finally I’m fairly comfortable and I still beat myself up over financial decisions I didn’t take because it was before TH-cam and my mum and dad - both teachers - knew nothing about money (they were mis-sold an endowment mortgage). My son is diagnose autistic and I have spin 5 years battling with arrogant and dismissive primary schools that didn’t want to deal with a ‘difficult’ circumstance. This led me to suicidal thoughts and a year and a half of therapy. I do get tired of being the guy who has it easy because right here, and right now, at this specific point in my life I earn more than some other person and so therefore can’t ever relate. It’s so black and white and utterly dismissive of an individuals’ journey and circumstances.
He's a laughable ignoramus. If he ever achieved any level of notoriety, he'll be smacked down by people who actually understand economics once he appears on their radar.
My parents emigrated here in the 70s... dad worked in warehouses, mum largely raised kids for 10 years before also working in retail or warehouse jobs.. they divorced when i was 13. Mum was left with 3 kids (youngest 13) and around 20 years of mortage on a 3 bed house on the borders of kent and south east london left to pay.. she now owns that house through working in warehouse jobs 9-5 mon-fri. The point of me saying this is in today society she would have absolutely no chance. I love that gary points out how hard thimgs are in todays society and shines a light on how it cam effect mental health of individuals and they should not feel so bad about what theyve acheived and where they curremtly are financially. Hes gained alot of respect from me 👏
100% today she’d pay so much in rent she would probably never get a mortgage… Food electric & everything else is far more expensive. Your gran would have died poor on a crap pension probably going cold & struggling in the winters.
Absolutely right. I bought my first house as a single parent. Most people had that chance if they had fairly regular work. The hard thing now is how people are pressured to believe that they are to blame for this mess. The Government did this! The Government made choices according to their warped priorities and voters should be pressuring for different choices.
@@goych I think the point is that the whole business of being able to afford to eat and keep a roof over our heads takes up all your time and brainpower. That's deliberate. It's too difficult for enough people to get off the conveyor belt and look at the bigger picture. It's not that people are stupid. They're exhausted.
@@GlasPthalocyanine and traumatised yes I agree, bigger picture stuff is a privilege few can afford. That’s why we have teachings from those who can see it. For whatever reason Gary has been given an amazing financial leg up despite being from a poor background. I love that he’s using it to try to help rather than hinder
We’ve been supporting Gary for almost 2 years now. As soon as I heard him talk I knew he got it. And he does get it. But this should not be a lot of comfort if you hear what he is predicting. If you live in the U.K. you already feel it. The wealth is only going one way. Gary tells you why. How much, & how much worse it will get. & you better listen like it’s your own dear mother whispering to you. Because unless you’re already rich you are getting shafted from here on in. Your families assets will eventually get bought out & rented back to you at prices that don’t leave you a pot to piss in. Your jobs wage will never go up further than that rent increase or price of food & utilities. All assets in some rich people’s portfolio. Just like your debt for education.
Is this the worst case scenario that might eventually happen? What is the most likely scenario and over what time frame? Lets be specific and useful and give people the most likely prediction for the end of this decade, all things being equal. Lot of people talking in averages and anecdotally. People who know about stats should be talking in probabilities.
@@paulbrown5839have you watched any of Gary's videos where he explains what's happening, money, wealth, the wealth transfer from us to the super rich through assets etc? All your bills are you sending money to the super rich because they own the high street, the water, rail, electricity, food distribution, farm land, internet, every thing you pay for. They own your mortgage or your place if you're renting. And they are over charging on every thing, while also putting us on zero hours contracts, lobbying for wages rises to be below inflation so that you become ever poorer and work longer for less, so that they can take more and more from us. Stop the steal. Stop them.
I am having a small apartment building in boston Massachusetts. I had to sell it. And I walked away with a million dollars and some. I'll be fine but I was driven out. I think this gentleman is very right about what's going on. But here in America we're having a commercial property crisis. And I think banks may go Under.
What predictions has he made that were right? He claims all his predictions-where are they? He is saying inequality will continue and is bad. That's stating the obvious.
I'm a New Zealander watching this from Penang.ive been watching Gary since I saw him on Novara Media. He's a hero of the people for speaking up. I hope people share his message far and wide because it needs to be heard.
I love this guy’s full circle journey, from poverty to ‘cracking the code’ of wealth, to then returning to his roots and using his experience/ knowledge to support the ordinary society he came from
He's running a business. If he wanted to help and was genuinely so spectacular at trading that he'll always be in demand for 7 figure jobs, he could just take one for a few more years and breeze through it with his unfathomable foresight and genius. Could have quietly funded community projects in Ilford for the rest of his life but instead chooses to eschew the millions being chucked at him in favour of being a TH-camr. Aye right.
Neoclassical (the mainstream) economics is basically an 'official state religion'. It doesn't need to be a representation of reality, it just needs to serve the interests of those who employ economists i.e. banks and other financial institutions. To go against the mainstream is career-death, regardless of the correctness of one's analysis.
@@danielbtwd Not really. Sort of. They really are high level economists, it's just the whole field is bullshit. It's kind of analogous to having a PhD in magic or something.
Wishing you all the best on your endeavour to enlighten the world. We’re moving ever closer to economic slavery but are totally oblivious. We need to support good folk like Gary.
I’ve watched and listened to Gary for a few years now on his channel (that’s how I got here) Don’t you just love his confidence? It’s not aggressive he just spits straight up facts, an impressive guy indeed and I hope his one man crusade to stop us all ending up even worse of than we are now, doesn’t fall on deaf ears.
Get back to me when Gary talks about the money printer. He's just a grifter. If this moron gets his way you're looking at people being even more dependent on government handouts than they already are, which is exactly what he wants, a centralised, planned marxist economy where the British people are even more oppressed by immigration and taxes than they already are..
For all that find Gary a bit harsh and over confident.......he has tested this theories in the premier League of finance and is a winner.....plus if you are of a certain age you will know lies are very comforting and easy on the ears.......the truth on the other hand is heard through gritted teeth and is uncomfortable.........don't shoot the Messenger. This podcast just gets better and better
Understood, I follow Gary and have done Since he started his channel, but unfortunately the reality is, people in general don't appreciate f-bombing and constantly saying "I'm the best trader". His messages are amazing, I'm with him ALL THE WAY, but in this case, he hasn't done himself any favours because of the amount of swearing. I'm hoping there will be clips made of the real profound parts where there's less profanity that can be beeped out.
@@DeputyChiefWhip Yea I agree, I feel he should put more pictures and stuff online about his time as a trader, he basically spawned in around 2017 simply saying we should believe him.
is there any evidence this guy worked in trading? he sounds like he would not get through the front door of one of these places let alone hired. He talks urban trash speak for a start
@@James_36 They only evidence is him saying he did... Check his Wikipedia. All sources are self referenced in interviews/articles and nothings appears from before 2020... For "the world's best trader", I would have expected to find several FT articles from 2008 onwards...
It is bad in the USA and getting worse by the day. No one is talking about it like you. Great discussion. I hope it spreads around the world. Spot on, from America.
Probably one of the best things I’ve listened to in a long time. Never listened to Gary before (now subscribed to his channel) We are heading for another Guilded Age and it’s accelerating faster year on year. Keep up the Great work
One of the most important finance videos I’ve seen (and I’ve watched a lot). Nice work guys. Gary’s message needs broadcasting to absolutely everyone. 👍
You know what, I don't know if this is the algo feeding me more of my echo chamber or what but I see more and more of this or this type of messages coming from more and more sides over the recent year. I don't know if I'm supposed to be terrified of what's coming or excited of the fact that people are finally waking up while also being more fed up which results in a very dangerous mixture for the ones that will end up on the receiving ends of millions of pitchforks. We desperately need more of those conversations, EVERYWHERE, you know I mean?
Gary is being heavily promoted because he is controlled opposition to keep the left away from discussions about banking and money printing. It's the exact same play as what they did after Occupy Wallstreet astroturfing all the LGBT insanity. The regime in this country absolutely do not want people talking about the actual problems which are central banking and jewish global finance, which they got a bit too close to doing in 2008. Hey Gary, which group comprises half of billionaires? Hey Gary, which group owns the NGOs importing cheap labour into Britain? Which group controls the media in Britain? Hey Gary, which group receives unconditional British support no matter their global terrorism and financial crimes?
No, a wealth tax will never happen because its unworkable, anyone who has any money will put their money in places that greedy socialists like you cant get at it. How much money will such a tax raise? Oh wait - probably not enough to make any appreciable difference. Instead of trying to take more of people's money, would you not think it's a better idea to maybe ask governments to be a bit more prudent in how they spend what money they do get? That never occurs to you, does it.
I'm never sure where wealth starts. I've got about a million between pension and cash, so I'm certainly wealthy. My house is very average in a poor northern town and I drive a second hand van. To get my wealth, such as it is, I didn't inherit from my parents nor win on the lottery. I worked on average 75 hours a week, 16 weeks holiday in 37 years. Started a business at 26 with my house on the line. I was in haulage, I worked hard, 24+ hour shifts, outside in all weathers. I do think how you earned your money needs to be taken into account. Before anyone squeaks, I was the highest paying employer in my little sector and drivers never left, so I thi k I was a hood employer
@@James_36 Bring in a land tax to stop the wealthy sitting on a valuable asset for profit. Tax their assets, they can't hide them. a 1% tax on those with over £10M would raise £80 billion for the economy. That's not small change. As every one of the 164 billionaires in the UK made around£720M each since Covid it won;t break the bank for them to pay more.
@@hilarygibson3150 You aren't the problem. It's those with say more than £5M in assets. The super wealthy, who don't pay income tax as they don't work. They live from their wealth! Compund interest makes them richer every morning!
I agree with how poverty is contagious. There are always exceptions, but broke and low income families end up working in the NHS or enlist in low ranks of the Army where the cycle of poverty continues. And rich families end up in finance and banking.
Things are changing unfortunately because inequality is getting bigger, there're lot's of low minimum wage jobs that are not and won't coop with the inflation rate year after year and low growth predictions due to low wages and higher cost of living overall
At least with the army and NHS you will get a decent pension. Now we're ending up with people heading into later middle age still working the kind of service jobs that traditionally done at minimum wage by the younger generation. I would not discount the increasing age of the population on the influence of how unequal things will get.
@@Abdul_Rahman86 still a better likely income than from working service industry (outside management) your whole life. I believe both those pensions are inflation linked and defined benefit. Getting to retirement might be another matter ofc
I follow Gary’s channel and this is one of the best interviews ever. It is so clear that we need to build the follower numbers to a proportion that is representative of the ordinary people. The press are no longer representative of us and I think they need to be boycotted, in favour of new channels like this one and Gary’s Economics.
A great video with a great guest 👍🏻 I have watched Gary's channel for a few years now and even though I know his story in detail I will still buy the book in order to help support the cause. Everything he has to say becomes more and more obvious with each passing year and it's time it changed. Look at your kids and think seriously about how they will fund life as a homeowner, maybe have kids one day, live to a half decent standard and retire one day too!!
Great episode! Watching from the US. This message needs to be heard globally and we need to work together across country boundaries to push for greater equality and tax the rich. Im sure we can all learn from one another once we realize the global rich don’t live within country boundaries and we shouldn’t either from an intellectual and idea generation perspective.
Oh look, another "tax the rich" socialist. Tell me - how exactly do you plan on "taxing the rich" when The Rich can put their money in places greedy socialists like you cant get to? Why would anyone with money want to invest in a country that wants to take their money off them? Answer is - they wouldn't,. I suggest you watch a channel named Nomad Capitalist, it should give an idea about how those with cash think, do you think they will sit idly by while people like you come for their money?
That was brilliant. We all need to get politically active because we are chasing a runaway train driven by the super rich (over 10 million pounds of assets worth) downhill and it's speed is accelerating. We all know in our hearts how this will end for all of us.
Really interesting, back in 2016 I read the McKinsey paper, Poorer than their Parents. Gary articulates the concepts of this paper so plainly. There is another paper or book I can’t track down called ‘return to the hour glass economy’ , it’s approx 10 years old and I have not been able to trace it, if you know it, it would be great if you let me know
This should be taught in schools. Along with the importance of unions and cooperatives. Those with the best pensions and working conditions are usually in unions. How about making a law which makes joining a union compulsory, rather like the introduction of pensions a few years back.
Been watching Gary for a few weeks now. His points are very true and over time he will be proved correct. Damo amazing interview as usual. Really well done.👌👍👏
Great seeing you get Gary on the channel. It doesn't take an economist to understand that wealth redistribution isn't "communizm", but an entirely prudent decision that would stimulate the economy for the betterment of most people. If you're a middling high-earner simping for the superrich because "they know how to be successful", you're literally a turkey voting for Christmas. Once they've chewed up and spat out the poor, they'll simply come for your wealth next.
wealth distribution is exactly out of a communist playbook, who is anyone to advocate theft? do you realise also it would do ZERO good to anyone? you do actually realise that do you? basic maths ruin this guys whole premise. How much money would a wealth tax bring in? peanuts. The entire wealth of the richest people in the UK gives people around 3k for one time only.... 3k... want to change your view now? 3k which still does sweet FA to your life as that would be gone within a month and there is less business, less jobs but that is okay, those super rich people are no longer rich. Woken up yet?
Would it "stimulate the economy", based upon what? *If you're a middling high-earner simping for the superrich because "they know how to be successful* Eh, they do know how to be "successful", you jackass, they's why they are rich. People "simp" for the super rich out of principle - because they dislike the idea of government stealing from them to then take that money and waste it on absolute nonsense. I dont care if someone is a billionaire, a millionaire or just worth a few hundred k's, the idea of government taking my money (only to then waste) annoys me. Its funny it never occurs to you people to maybe hold government more accountable in how they spend OUR money. Nah, why do that when we can just take from endless money tree of The Rich and take money from them! Oh but don't worry - I'm sure they wont mind (and Im sure they wont take any measures to move it elsewhere, naaah!) Im Irish - our government last year gave 7billion euros to woke NGOs who do nothing but spread leftist propaganda, 3 billion housing fake "asylum seekers" and blew $45 billion on a flu 2020-2022 (which didn't even see ONE extra ICU bed added). Why should I tolerate or celebrate that? Is that what you mean when you say "wealth distribution is an entirely prudent decision that would stimulate the economy for the betterment of most people?" How exactly does that work? And the same thing is happening in the UK. *Once they've chewed up and spat out the poor, they'll simply come for your wealth next* Who is coming for my wealth next, and how? Typical socialist drivel. The only people "coming for my wealth" are greedy socialists like you, no one else.
What f*cking swearing?? one of the best episodes, Great work! Really eye opening, Now which party is willing to tax the rich so we can fix the system a little?
Thank you for sharing this. I truly think Gary is one of the most important voices in Britain and I hope he can be heard loud and clear across the country. I look forward to listening to his audiobook which I've pre-ordered on amazon.
such a real talk. I am myself in the category of people 24-26 y.o. that worked hard, studied so much, and can't even get a good paying job these days. My dreams of when I was young was to have a well paid job that can afford me a house and a family. I am now looking to move in other countries where I can achieve these goals, and live a fulfilled life, but the problem is that anywhere else in Europe, is also mostly difficult. Living from day to day really, thinking to abandon the profession I have studied so hard for 6 years, because as Gary said, hard work is not paid off these days. I can't comprehend these politicians or people smilling at TV and saying economy is "slightly" hard, when all of my friends live in miserable conditions for someone at this age, that should have a well paid job (if you worked hard) and making plans of future.
I do feel sorry for the younger generations...also even if you do somehow get a good job they are always "restructuring " and getting rid of people so its not secure and everyone thats left is overstretched and stressed out. If I was a guy I would be a self employed electrician or plumber as they are always in demand...this is what alot of my friends partners do and they are smart guys (plus you can fiddle your books abit up if you want a mortgage or down if you wanna pay less tax ;)
As a "middle class" South African high school economics teacher. This is the message that I am trying to bring across to my learners. Im 40 and I cant afford a home here in SA. My wife is a teacher as well and our combined income has been eroded by the system. We dont have any debt and we save what we can. But we are at a point where we will only be "wealthy" when we inherit.
This video has been on my mind, and I think one of the things that needs to change is employees need to ALWAYS tell each other what their salaries are. The whole getting paid more for the same job and competition has led to this cost of living crisis because wages have been able to stay so low.
Most people don't have the guts to do that. Most certainly won't challenge their boss for a pay rise either. I have always done it. Doesn't always get what you want but I have just got £1 ph hour rise by being up front and built a valid case why I should get one. Mind you I don't care what people think so it doesn't bother me.😂
Thanks for this. We can now understand why our systems (financial, health, education, and government) are failing us. And the reason the very rich are ignoring the cries of the people is because those on the inside are like rats jumping off of a sinking ship. And while Gary attempts to help, via his book, NO individual can help, neither an organization - it requires a fundamental change in how government operates. And THEY don’t care about anyone. With some, they don’t even care about family members.
Man I can really resonate with the Gary’s childhood. Especially your family’s lack of money being a fact of life. Throwing away the trip slips because you don’t want to bother your mum and the guilt she’d feel that she can’t afford it. The moment I could be financially independent, I did it. Last time I ever asked money from my mum I was 13.
Love Gary's passion even though the topic is scary. Thing is though we are currently in the midst, perhaps at the peak and the point of no return, of the biggest wealth transfer in history. I'm sure he's aware of that and predicted it in private. He mentions Dickensian times returning and I don't think he's far off the mark.
this is so important. People NEED to understand that money's value is relative. if the rich gets richer they outbid everybody on assets and it makes everybody else poorer.
I’ve been following Gary’s channel for a few years now as well as Damien’s and I have to say this was a much needed and great interview. Genuinely though we as nation need to form a new political party as neither the Conservatives, Labour or Lib Dem’s will ever change the status quo and tax the ultra rich. Check out Nigel Farage every time he wants to push his agenda through he creates a new political party, his latest is called Reform. Gary, Damien, Ramin and Nisha would make the great initial members to embolden change. Other activists not withstanding.
tax the ultra rich to then do what? do you realise that if you liquidated all their net worth and divided it by the people in this country you would get a one time payment of around 3k.. not to mention all the wealth creation and jobs gone which would turn nations back into the stone age. So a wealth tax that gets what % of their INCOME will solve absolutely nothing. Stop being jealous of rich people because it will do you no good in life
Farage is an opportunist grifter. He's already done enough damage to the country, and has lost every election he's ever entered, except as MEP. After sabotaging that, he's now happy to have the UK taxpayer pay his EU pension. Slimy git.
The right tell everyone that “if only they work hard enough, they’ll become wealthy”. However, some very hard working people remain poor. This lie needs to be addressed.
Gary has got a good heart, and you can tell he wants to do good for the future of the country. Never imagined when emigrated to England 11y ago, that you could have in 2024 a cue of hundreds of people trying to get access to dental care (this week in Bristol), or 12h waits to be seen in ED, or schools crumbling. When I look around I see a society progressing towards more inequality. Was lucky enough to buy a home here 10y ago, got friends now doing professional jobs (mostly nurses) working 50h week what cannot afford to get one now. One of the measures could be applied would be the payment of council tax by the owners of property, and make that exponential like 50£ month for 100k flat and 5000£ month for a 10million property, and everybody had to pay that even if the house was empty! That would probably decrease the numbers of empty houses by the rich (think was Garry that mentioned this on his podcast). And the labour party should be taking notes as a measure like this would popular probably to 99% of the population.
What do you mean? I was mentioning due to lack of housing, increasing the council tax according to house value and have no exceptions for people who are loaded £££ and trying to facilitate young families having a place to live.
@@pedroluzio6250 you claimed this idiot wants to do good, all he does is moan about rich people and wants to take their wealth away via a tax which is theft and will provide zero value to society due to corrupt govt wastage
The 'prepping' that Gary talks about resonates with me. I was the first person in my family to get a degree and recall after graduation expecting to walk into a job. I very quickly realised that the route to these jobs had already been sewn-up by others. I was green as grass, but it was an eye-opener for me. Ultimately, I changed careers twice before settling on being a brewer/distiller. If you want to talk about a career that demands significant technical knowledge and mostly pays under £28k, brewing is it. I love my profession, but I'd also love to be able to not worry about money. I know that I'm not unique in that respect and other sectors are even more poorly paid.
You, Gary and other relevant TH-camrs should form a collective to push this into the public consciousness. It needs a movement that's hard for individual people writing to their MP to do.
Gary’s channel is excellent. Let’s face it, every economist positively ignores distribution and inequality, despite it being the main issue of our time. There’s no consequences for being wrong in economics aside from where Gary worked. In fact they make you prime minister. You can’t become PM unless you believe, or prepared to pretend, that trickle down economics works.
Hi Damien and Timeyin. I always thoroughly enjoy this podcast and your own podcast @DamienTalksMoney because it really speaks volumes and you do that with humility in a professional manner. Your channel admits that there is a fault in the system but gives you the education required to progress, something to get 'ahead' of the game or at least gives you an insight into a swimming lane of those who are more fortunate. It gives you the tools (budgeting especially and investing) and enthusiasm to work towards your future. I think that this episode was sadly the complete opposite of that. I understand that a lot of people support Gary because his message resonates with people. That being said, I find him quite hard to listen to. It isn't the swearing, that is just the way he communicates. But in his videos which I've seen, most of the time is spent talking about how amazing he is, how great he was/is with Maths, how he is godlike with predictions, how he is better than everyone else. Absolutely no humility unlike you two. I was curious about that and looked into him and found no proof to support what he was saying (not saying it isn't true but gives me even more reason to doubt). At the same time, his message was what, tax the rich, the world is set against you? Yes, everyone knows that, this is why we listen to your channel @DamienTalksMoney . To me, Gary just sounds like another politician and I get no value in listening to him (aka full of sh**). Reminds me of Trump a bit. Repeating the same thing over and over again until eventually, people believe it. I am however appreciative since having him on the show, gives your channel more visibility and this means education for a wider audience. This is the value which I see in the video. Greetings from Scotland and thank you for your content.
We desperately need to get this movement growing so normal people have a loud enough voice to be heard as this inequality message is critical to almost all our futures
Wow, Gary really gets it. I really do think there is an untapped silent majority of young people in the UK who earn ‘decent’ money, but can’t afford to get on the property ladder. I hope this silent majority follow Gary’s movement and we can shake the politicians into listening. Gary, I’m right behind you!! 🫡
Absolutely loved this! Felt very similarly in my first year of University. Everyone had spent their summer with the Reading List and wading through Paradise Lost. My Summer was spent packing boxes in a local warehouse! 😂
I recall reading that Renaissance Technologies, the most successful hedge fund ever, is on the right side of a trade somewhere between 50-51% of the time.
Gary’s made millions off of questioning the shortsighted predictions of others. Economics is a field built on models with “exogenous” factors. The very fact that a factor can be exogenous and ‘outside the model’ makes economics a pretty useless subject for making predictions
Really informative. Huge thanks to you 3. I've seen some of Gary's TH-cam films. Good stuff. I think normal folks struggle to conceptualise real wealth. What multi millions look like in their accounts. I can't think what that would look like. So it's like it's not 'real'. Also I think the concept of 'an inconvenient truth' kind of kicks in. The middle class, who pride themselves on thinking themselves achievers and wealthy don't want to hear the reality.
Especially as those who disseminate the news are careful to tell the middle-class that taxing wealth will take their hard-earned money... and waste it on lazy benefit scroungers. In reality a majority of their taxes go straight to those who are already uber-rich.
Great discussion. The depressing thing is neither of our major political parties are willing to address this. Ultimately because they are both in the pockets of the super rich…..
@@James_36 haha i can’t say i agree with Gary either, but if he gave some actual stats and figures for his arguments he might be able to change more views
The only fact that you need to know is that our economy is stagnant because ordinary people are poor whilst the extremely rich have never been richer and thus have driven up asset prices so that they are out of reach for ordinary people, thus exacerbating the very problem I just described
My wife and I worked hard (in Australia) - in a blue-collar industry for 35 years - we lived frugally, saved and invested ... now owning our own home and with a few mil invested, we don't think about money at all. We don't consider ourselves as being rich - but we would both be happy to pay an extra 1-3% tax a year if it would help others do what we have. But ... would it help? We don't know.
The problem is credit... the economic model we hold is no longer fit for purpose because our currency is completely debased and is getting more and more debased every day as it is untethered from gold or anything of superior value. I dont understand why no economist is discussing this. Central banks are the problem
really? who gives gold its value? what can gold actually buy? ZERO. I was going to insult you but ill give you some advice instead. Stop listening to idiots like this guy who is a conman and a liar. There is not a chance he was on the trading floor of a big bank being successful, he would not even hold the stupid views he has if he did he would still be getting rich in the bank rather than peddling a BS book
Money IS debt. Debt is promised off skills applied in the future. If you can make more money of your skills that the debt you(or your employer) takes on, you ARE the economic growth.
Wrong. Privately created credit-money is the problem- and it IS tethered to something "of superior value"- real estate- which is the collateral for 90% of credit money. Central bank money- correctly regulated- is the solution. no need for Gold.
Gary is totally correct about economists needing to talk to real people to understand what is happening. I see and hear economists and people like the bank of england claiming repeatedly that inflation is falling and easing financial pressures. Meanwhile one of the main topics of conversation I have with people is how expensive it is to do a food shop, how people find they don't get as much for their money and are cutting back to make ends meet.
what is real people? most ordinary people waste their money on dumb consumer BS flexing and trying to impress their neighbours, what an earth as an economist going to do with that information other than make him realise how dumb these people are
Just a warning there is swearing in this video. It may not be suitable to watch around children.
Interesting so far although video would be half a hour without the f bombs
I guess I was really engaged in the discussion. I didn't notice any swearing.
The swearing makes it good
Swearing shows how passionate Gary is about this subject
Swearing and bluntness is an effective way to get a point across.
Better than a patronising politician who uses fancy jargon.
Business is blunt
I'm 50 and have worked all my life up to what I used to think is now a decent salary and I entirely agree that I have more in common with the man/woman on minimum wage because that's where I was 35 years ago and I'm still struggling albeit less so but paying 50% tax. It has taken me this long to become enlightened about what wealth truly means and I am so glad that the internet exists, TH-cam exists and this type of content is available now to the masses. The only way change will happen is through education and spreading that knowledge in an understandable manner to the many. This is what you are doing and I commend you all for doing it. Keep up the good work. 👍
They've been trying to make the middle class disappear and the poor poorer since the Thatcher/Reagan Neoliberals took over everything, they've increased their wealth by 40%+ and everyone else lost 40% of spending power.
Speaking of education, that was also a strategic agenda on their part.... to make each consecutive generation dumber... they don't want them to know how to think critically, how money works, how to be an entrepreneur, how the rich (and those private Mafia Central Banks) steal from you or what your Rights USED to be or what is TRUE which is why the media endlessly lies to you. Just keep your noses in those cell phone social media inanities, bolster narcissism based on nothing, destroy local businesses by buying on Amazon and remain passive, confused, distracted and fearful.
I'm 75 and have watched this plague upon humanity for the last 55 years, the consolidation into monopolies of everything that used to be local, family run and created solid, compassionate communities. They can't have that you see... not when they want to control everything ie; EVERYONE on planet Earth: food, water, oil, land, air, minerals etc. and YOU.
This is the Great Reset that NO ONE volunteered for. 😡
That's the fault of our education system, I am a little older than you but in my late 40s I began to study how the wealthy got wealthy and it is about buying assets and keeping them in a limited company. Tax is paid on profit, so the trick is to not make profit but have cash flow.
Look up cash flow quadrant and the Prussian education model.
Somewhat, if you’re paying 50% taxes, you can’t truly relate to being on a true minimum wage (even if you were once on a minimum wage).
However, it’s important to empathise. Money comes and goes, so it’s definitely important to be grounded and appreciate when we have it and remember those who aren’t as fortunate (because for many it could be us).
Peace!
@@hannah60000This is one of the fallacies they use to divide us. Why can’t he relate? I am 51 - I earn £200k a year (now). My secondary school closed down in 1988 from lack of funding - there was a riot with what we used to call ‘paddy wagons’ - police vans - that broke up a riot and kids throwing rocks threw third floor windows ( a nice racial slur there from the 1980s). I grew up in an area of east of Birmingham where brain donors from the NF and BNP used to roam around and just smash anything they could. Despite this I worked hard to get A levels and then Uni paid for by taxes from my mum and dad and every mum and dad in the UK. Then I worked to become an expert in one very specific area of IT which required ten+ years of 80 hour weeks. Finally I’m fairly comfortable and I still beat myself up over financial decisions I didn’t take because it was before TH-cam and my mum and dad - both teachers - knew nothing about money (they were mis-sold an endowment mortgage). My son is diagnose autistic and I have spin 5 years battling with arrogant and dismissive primary schools that didn’t want to deal with a ‘difficult’ circumstance. This led me to suicidal thoughts and a year and a half of therapy. I do get tired of being the guy who has it easy because right here, and right now, at this specific point in my life I earn more than some other person and so therefore can’t ever relate. It’s so black and white and utterly dismissive of an individuals’ journey and circumstances.
I think he's referring to all the other taxes we pay which equates to 50% not necessarily from his pay
The best Gary Stevenson interview ever. This needs to go global.....
It is....
F’ing right it has
He's a laughable ignoramus. If he ever achieved any level of notoriety, he'll be smacked down by people who actually understand economics once he appears on their radar.
My parents emigrated here in the 70s... dad worked in warehouses, mum largely raised kids for 10 years before also working in retail or warehouse jobs.. they divorced when i was 13.
Mum was left with 3 kids (youngest 13) and around 20 years of mortage on a 3 bed house on the borders of kent and south east london left to pay.. she now owns that house through working in warehouse jobs 9-5 mon-fri.
The point of me saying this is in today society she would have absolutely no chance.
I love that gary points out how hard thimgs are in todays society and shines a light on how it cam effect mental health of individuals and they should not feel so bad about what theyve acheived and where they curremtly are financially.
Hes gained alot of respect from me 👏
100% today she’d pay so much in rent she would probably never get a mortgage… Food electric & everything else is far more expensive. Your gran would have died poor on a crap pension probably going cold & struggling in the winters.
Absolutely right. I bought my first house as a single parent. Most people had that chance if they had fairly regular work. The hard thing now is how people are pressured to believe that they are to blame for this mess. The Government did this! The Government made choices according to their warped priorities and voters should be pressuring for different choices.
@@GlasPthalocyanineas Gary says we’ve all been brought up to believe that this is all we’re capable of! I say no!
@@goych I think the point is that the whole business of being able to afford to eat and keep a roof over our heads takes up all your time and brainpower. That's deliberate. It's too difficult for enough people to get off the conveyor belt and look at the bigger picture. It's not that people are stupid. They're exhausted.
@@GlasPthalocyanine and traumatised yes I agree, bigger picture stuff is a privilege few can afford. That’s why we have teachings from those who can see it. For whatever reason Gary has been given an amazing financial leg up despite being from a poor background. I love that he’s using it to try to help rather than hinder
We’ve been supporting Gary for almost 2 years now. As soon as I heard him talk I knew he got it. And he does get it. But this should not be a lot of comfort if you hear what he is predicting. If you live in the U.K. you already feel it. The wealth is only going one way. Gary tells you why. How much, & how much worse it will get. & you better listen like it’s your own dear mother whispering to you.
Because unless you’re already rich you are getting shafted from here on in. Your families assets will eventually get bought out & rented back to you at prices that don’t leave you a pot to piss in. Your jobs wage will never go up further than that rent increase or price of food & utilities. All assets in some rich people’s portfolio. Just like your debt for education.
multi generational family homes - dont put grandma in a home
Is this the worst case scenario that might eventually happen? What is the most likely scenario and over what time frame? Lets be specific and useful and give people the most likely prediction for the end of this decade, all things being equal. Lot of people talking in averages and anecdotally. People who know about stats should be talking in probabilities.
@@paulbrown5839have you watched any of Gary's videos where he explains what's happening, money, wealth, the wealth transfer from us to the super rich through assets etc?
All your bills are you sending money to the super rich because they own the high street, the water, rail, electricity, food distribution, farm land, internet, every thing you pay for.
They own your mortgage or your place if you're renting.
And they are over charging on every thing, while also putting us on zero hours contracts, lobbying for wages rises to be below inflation so that you become ever poorer and work longer for less, so that they can take more and more from us.
Stop the steal.
Stop them.
I am having a small apartment building in boston Massachusetts. I had to sell it. And I walked away with a million dollars and some. I'll be fine but I was driven out. I think this gentleman is very right about what's going on. But here in America we're having a commercial property crisis. And I think banks may go Under.
What predictions has he made that were right? He claims all his predictions-where are they? He is saying inequality will continue and is bad. That's stating the obvious.
I'm a New Zealander watching this from Penang.ive been watching Gary since I saw him on Novara Media. He's a hero of the people for speaking up. I hope people share his message far and wide because it needs to be heard.
Damien, Ramin and Gary are my 3 top finance/economy TH-camrs in the UK. This link up has made my evening!
Same here. I think a Gary Ramin crossover would be pretty entertaining.
I wasn’t aware of Gary until this video, fantastic human being!
Great video, guys
I love this guy’s full circle journey, from poverty to ‘cracking the code’ of wealth, to then returning to his roots and using his experience/ knowledge to support the ordinary society he came from
He's running a business. If he wanted to help and was genuinely so spectacular at trading that he'll always be in demand for 7 figure jobs, he could just take one for a few more years and breeze through it with his unfathomable foresight and genius.
Could have quietly funded community projects in Ilford for the rest of his life but instead chooses to eschew the millions being chucked at him in favour of being a TH-camr. Aye right.
@@cal9784 nice to see he is already being attacked by the right. which means his message is working!
@@cal9784 he is a total grifter, noticing there are millions of gullible young desperate fools on YT waiting to be suckered in
He’s an excellent grifter; peddling communism while being a hardcore capitalist himself!
@@jintz2at the heart of the GFC
The Oxford economists were 'so bad they didn't even know they were bad' 😂😂
Dunning Krueger effect.
Neoclassical (the mainstream) economics is basically an 'official state religion'. It doesn't need to be a representation of reality, it just needs to serve the interests of those who employ economists i.e. banks and other financial institutions. To go against the mainstream is career-death, regardless of the correctness of one's analysis.
@@danielbtwd whos she ?
Rich pricks don't even need to be good.
@@danielbtwd Not really. Sort of. They really are high level economists, it's just the whole field is bullshit. It's kind of analogous to having a PhD in magic or something.
Played the Oboe at the Royal Albert Hall 🤣that killed me!
Really is shit like that... or member of the UN youth council...
Wishing you all the best on your endeavour to enlighten the world. We’re moving ever closer to economic slavery but are totally oblivious. We need to support good folk like Gary.
Absolutely amazing - this should be played in every school & college, to expose the truth to the younger generations. Brilliant content as always
I think you should get Gary back on another time - but with Sasha Yanshin alongside him so we can see who is the angrier man :)
Sasha would kowtow within 30 seconds
If you live in this economy and you are not angry, you are not paying attention.
That is a brilliant idea.
Do you know the meaning of anger? He's simply passionate about his message but not angry at all
I is Like angry, No it's a club n were all not in it..
I really like Gary, but what he says and talks about makes me so angry, to the point I don’t watch his videos much, because he’s right.
Financialised economy and financialising of housing
I’ve watched and listened to Gary for a few years now on his channel (that’s how I got here)
Don’t you just love his confidence? It’s not aggressive he just spits straight up facts, an impressive guy indeed and I hope his one man crusade to stop us all ending up even worse of than we are now, doesn’t fall on deaf ears.
what facts? this grifter has spouted nothing but total nonsense
@@James_36 Read his book.
@@James_36elaborate...
Get back to me when Gary talks about the money printer. He's just a grifter. If this moron gets his way you're looking at people being even more dependent on government handouts than they already are, which is exactly what he wants, a centralised, planned marxist economy where the British people are even more oppressed by immigration and taxes than they already are..
For all that find Gary a bit harsh and over confident.......he has tested this theories in the premier League of finance and is a winner.....plus if you are of a certain age you will know lies are very comforting and easy on the ears.......the truth on the other hand is heard through gritted teeth and is uncomfortable.........don't shoot the Messenger.
This podcast just gets better and better
Understood, I follow Gary and have done Since he started his channel, but unfortunately the reality is, people in general don't appreciate f-bombing and constantly saying "I'm the best trader". His messages are amazing, I'm with him ALL THE WAY, but in this case, he hasn't done himself any favours because of the amount of swearing. I'm hoping there will be clips made of the real profound parts where there's less profanity that can be beeped out.
I agree, raw emotion and truth ain't polite. He isn't a politician he's a real man with a real passion and concern.
@@DeputyChiefWhip Yea I agree, I feel he should put more pictures and stuff online about his time as a trader, he basically spawned in around 2017 simply saying we should believe him.
is there any evidence this guy worked in trading? he sounds like he would not get through the front door of one of these places let alone hired. He talks urban trash speak for a start
@@James_36 They only evidence is him saying he did... Check his Wikipedia. All sources are self referenced in interviews/articles and nothings appears from before 2020... For "the world's best trader", I would have expected to find several FT articles from 2008 onwards...
It is bad in the USA and getting worse by the day. No one is talking about it like you. Great discussion. I hope it spreads around the world. Spot on, from America.
Us economy is doing a lot better than the UKs
Peter Joseph discusses this issue too. He has directed a few documentaries about it.
Probably one of the best things I’ve listened to in a long time. Never listened to Gary before (now subscribed to his channel)
We are heading for another Guilded Age and it’s accelerating faster year on year.
Keep up the Great work
One of the most important finance videos I’ve seen (and I’ve watched a lot). Nice work guys. Gary’s message needs broadcasting to absolutely everyone. 👍
You know what, I don't know if this is the algo feeding me more of my echo chamber or what but I see more and more of this or this type of messages coming from more and more sides over the recent year. I don't know if I'm supposed to be terrified of what's coming or excited of the fact that people are finally waking up while also being more fed up which results in a very dangerous mixture for the ones that will end up on the receiving ends of millions of pitchforks. We desperately need more of those conversations, EVERYWHERE, you know I mean?
Algorithm
Yes we do, we all have learnt to be scared of money and scared to question the system and as Gary so poiyantly pointed out we tend to blame ourselves!
Gary is being heavily promoted because he is controlled opposition to keep the left away from discussions about banking and money printing. It's the exact same play as what they did after Occupy Wallstreet astroturfing all the LGBT insanity. The regime in this country absolutely do not want people talking about the actual problems which are central banking and jewish global finance, which they got a bit too close to doing in 2008. Hey Gary, which group comprises half of billionaires? Hey Gary, which group owns the NGOs importing cheap labour into Britain? Which group controls the media in Britain? Hey Gary, which group receives unconditional British support no matter their global terrorism and financial crimes?
Hit the nail on the head, the media machine will never let a wealth tax happen and that is the biggest threat to prosperity for most people.
what? what you think a wealth tax will do? how much money would it bring into the GOVERNMENT to waste on something dumb? ill be waiting
No, a wealth tax will never happen because its unworkable, anyone who has any money will put their money in places that greedy socialists like you cant get at it.
How much money will such a tax raise? Oh wait - probably not enough to make any appreciable difference.
Instead of trying to take more of people's money, would you not think it's a better idea to maybe ask governments to be a bit more prudent in how they spend what money they do get?
That never occurs to you, does it.
I'm never sure where wealth starts. I've got about a million between pension and cash, so I'm certainly wealthy. My house is very average in a poor northern town and I drive a second hand van.
To get my wealth, such as it is, I didn't inherit from my parents nor win on the lottery. I worked on average 75 hours a week, 16 weeks holiday in 37 years. Started a business at 26 with my house on the line. I was in haulage, I worked hard, 24+ hour shifts, outside in all weathers. I do think how you earned your money needs to be taken into account.
Before anyone squeaks, I was the highest paying employer in my little sector and drivers never left, so I thi k I was a hood employer
@@James_36 Bring in a land tax to stop the wealthy sitting on a valuable asset for profit. Tax their assets, they can't hide them. a 1% tax on those with over £10M would raise £80 billion for the economy. That's not small change. As every one of the 164 billionaires in the UK made around£720M each since Covid it won;t break the bank for them to pay more.
@@hilarygibson3150 You aren't the problem. It's those with say more than £5M in assets. The super wealthy, who don't pay income tax as they don't work. They live from their wealth! Compund interest makes them richer every morning!
I watched this whole thing, feeling much more educated and aware, thanks all👏👏👏👏👏
I agree with how poverty is contagious. There are always exceptions, but broke and low income families end up working in the NHS or enlist in low ranks of the Army where the cycle of poverty continues. And rich families end up in finance and banking.
Things are changing unfortunately because inequality is getting bigger, there're lot's of low minimum wage jobs that are not and won't coop with the inflation rate year after year and low growth predictions due to low wages and higher cost of living overall
At least with the army and NHS you will get a decent pension. Now we're ending up with people heading into later middle age still working the kind of service jobs that traditionally done at minimum wage by the younger generation.
I would not discount the increasing age of the population on the influence of how unequal things will get.
@@Al_Does_Stuff in the army maybe. In the NHS no!
You retire at 65. Right now I’ll retire at 57.
@@Abdul_Rahman86 still a better likely income than from working service industry (outside management) your whole life. I believe both those pensions are inflation linked and defined benefit. Getting to retirement might be another matter ofc
To this day I'm still waiting for the sub count to go up, the quality on this channel far exceeds current numbers. Keep going both.
Superb interview with Gary He's really pissing off the wealthy!!!!!
They’re not listening to him, they don’t watch TH-cam and sadly he has no power.
This guy is amazing. We need more of Gary in this world.
I love Gary, he tells it how it is! You just need to listen and read between the lines and swearing and we'll learn a lot 🙂
I follow Gary’s channel and this is one of the best interviews ever. It is so clear that we need to build the follower numbers to a proportion that is representative of the ordinary people. The press are no longer representative of us and I think they need to be boycotted, in favour of new channels like this one and Gary’s Economics.
Oh wow, you've got Gary! I'm seriously going to enjoy this one!!! Nice one guys.
same I did the whole 70 minutes easy
Always have time to listen to Garry. Never have a problem with swearing when it comes from the passion to help people.
Gary is a breath of fresh air in this God foresaken world! He dropped so many gems in this interview.
A great video with a great guest 👍🏻
I have watched Gary's channel for a few years now and even though I know his story in detail I will still buy the book in order to help support the cause. Everything he has to say becomes more and more obvious with each passing year and it's time it changed. Look at your kids and think seriously about how they will fund life as a homeowner, maybe have kids one day, live to a half decent standard and retire one day too!!
Gary speaks so much sense it's unreal, his book is gonna slap
If Gary started a swear jar he could solve the UK poverty crisis in a couple of afternoons.
😂 lol 😅😂
Right. Gary has just broken the record for the number of times you can say 'F**K' in an hour. Unbelievable.
I'm a potty mouth, and he impressed me 😂🤣😂🤣
Ha, you can always tell when he's off script and passionate about what he's talking on
😂😂😂
i would like Gary to be our MP regarding finance. Gary is a warrior. thank you Gary.
Great episode! Watching from the US. This message needs to be heard globally and we need to work together across country boundaries to push for greater equality and tax the rich. Im sure we can all learn from one another once we realize the global rich don’t live within country boundaries and we shouldn’t either from an intellectual and idea generation perspective.
Oh look, another "tax the rich" socialist.
Tell me - how exactly do you plan on "taxing the rich" when The Rich can put their money in places greedy socialists like you cant get to?
Why would anyone with money want to invest in a country that wants to take their money off them? Answer is - they wouldn't,.
I suggest you watch a channel named Nomad Capitalist, it should give an idea about how those with cash think, do you think they will sit idly by while people like you come for their money?
That was brilliant. We all need to get politically active because we are chasing a runaway train driven by the super rich (over 10 million pounds of assets worth) downhill and it's speed is accelerating. We all know in our hearts how this will end for all of us.
Really interesting, back in 2016 I read the McKinsey paper, Poorer than their Parents. Gary articulates the concepts of this paper so plainly. There is another paper or book I can’t track down called ‘return to the hour glass economy’ , it’s approx 10 years old and I have not been able to trace it, if you know it, it would be great if you let me know
This should be taught in schools. Along with the importance of unions and cooperatives. Those with the best pensions and working conditions are usually in unions. How about making a law which makes joining a union compulsory, rather like the introduction of pensions a few years back.
Brilliant video Damien! Fantastic choice getting Gary on 😊
Been watching Gary for a few weeks now. His points are very true and over time he will be proved correct.
Damo amazing interview as usual. Really well done.👌👍👏
Gary is a legend. Thanks for this, it’s fascinating.
Good to see Gary on the show, hard to disagree with what he saying. We need more people like him on our screens. Keep the content coming lads!
Great seeing you get Gary on the channel. It doesn't take an economist to understand that wealth redistribution isn't "communizm", but an entirely prudent decision that would stimulate the economy for the betterment of most people. If you're a middling high-earner simping for the superrich because "they know how to be successful", you're literally a turkey voting for Christmas. Once they've chewed up and spat out the poor, they'll simply come for your wealth next.
wealth distribution is exactly out of a communist playbook, who is anyone to advocate theft? do you realise also it would do ZERO good to anyone? you do actually realise that do you? basic maths ruin this guys whole premise. How much money would a wealth tax bring in? peanuts. The entire wealth of the richest people in the UK gives people around 3k for one time only.... 3k... want to change your view now? 3k which still does sweet FA to your life as that would be gone within a month and there is less business, less jobs but that is okay, those super rich people are no longer rich. Woken up yet?
Would it "stimulate the economy", based upon what?
*If you're a middling high-earner simping for the superrich because "they know how to be successful*
Eh, they do know how to be "successful", you jackass, they's why they are rich.
People "simp" for the super rich out of principle - because they dislike the idea of government stealing from them to then take that money and waste it on absolute nonsense.
I dont care if someone is a billionaire, a millionaire or just worth a few hundred k's, the idea of government taking my money (only to then waste) annoys me.
Its funny it never occurs to you people to maybe hold government more accountable in how they spend OUR money. Nah, why do that when we can just take from endless money tree of The Rich and take money from them! Oh but don't worry - I'm sure they wont mind (and Im sure they wont take any measures to move it elsewhere, naaah!)
Im Irish - our government last year gave 7billion euros to woke NGOs who do nothing but spread leftist propaganda, 3 billion housing fake "asylum seekers" and blew $45 billion on a flu 2020-2022 (which didn't even see ONE extra ICU bed added). Why should I tolerate or celebrate that? Is that what you mean when you say "wealth distribution is an entirely prudent decision that would stimulate the economy for the betterment of most people?" How exactly does that work? And the same thing is happening in the UK.
*Once they've chewed up and spat out the poor, they'll simply come for your wealth next*
Who is coming for my wealth next, and how?
Typical socialist drivel.
The only people "coming for my wealth" are greedy socialists like you, no one else.
The useful idiots
I needed to hear this. Thank you for inviting this honest person
Thanks to you both for all the understanding and experience you share.
What f*cking swearing?? one of the best episodes, Great work! Really eye opening, Now which party is willing to tax the rich so we can fix the system a little?
Everyone needs to see this, especially people who are not incredibly wealthy and yet identity as conservatives.
Thank you for sharing this. I truly think Gary is one of the most important voices in Britain and I hope he can be heard loud and clear across the country. I look forward to listening to his audiobook which I've pre-ordered on amazon.
This is quite a shocking conversation when you think about it. The situation is grave.
Amazing guest, he has a gift for explaining the complex to simplicity.
such a real talk. I am myself in the category of people 24-26 y.o. that worked hard, studied so much, and can't even get a good paying job these days. My dreams of when I was young was to have a well paid job that can afford me a house and a family. I am now looking to move in other countries where I can achieve these goals, and live a fulfilled life, but the problem is that anywhere else in Europe, is also mostly difficult. Living from day to day really, thinking to abandon the profession I have studied so hard for 6 years, because as Gary said, hard work is not paid off these days. I can't comprehend these politicians or people smilling at TV and saying economy is "slightly" hard, when all of my friends live in miserable conditions for someone at this age, that should have a well paid job (if you worked hard) and making plans of future.
I do feel sorry for the younger generations...also even if you do somehow get a good job they are always "restructuring " and getting rid of people so its not secure and everyone thats left is overstretched and stressed out. If I was a guy I would be a self employed electrician or plumber as they are always in demand...this is what alot of my friends partners do and they are smart guys (plus you can fiddle your books abit up if you want a mortgage or down if you wanna pay less tax ;)
Oohh yes my 2 favorite TH-camrs in the same video 🙌
As a "middle class" South African high school economics teacher. This is the message that I am trying to bring across to my learners. Im 40 and I cant afford a home here in SA. My wife is a teacher as well and our combined income has been eroded by the system. We dont have any debt and we save what we can. But we are at a point where we will only be "wealthy" when we inherit.
Gary is the legend. We need to support him achieve his goals or we are doomed.
I've now watched four recent interviews with Gary and I think this is the best. Good work boys!
This video has been on my mind, and I think one of the things that needs to change is employees need to ALWAYS tell each other what their salaries are. The whole getting paid more for the same job and competition has led to this cost of living crisis because wages have been able to stay so low.
Most people don't have the guts to do that. Most certainly won't challenge their boss for a pay rise either.
I have always done it. Doesn't always get what you want but I have just got £1 ph hour rise by being up front and built a valid case why I should get one.
Mind you I don't care what people think so it doesn't bother me.😂
Thanks for this.
We can now understand why our systems (financial, health, education, and government) are failing us. And the reason the very rich are ignoring the cries of the people is because those on the inside are like rats jumping off of a sinking ship.
And while Gary attempts to help, via his book, NO individual can help, neither an organization - it requires a fundamental change in how government operates.
And THEY don’t care about anyone. With some, they don’t even care about family members.
Yay, really looking forward to this one! Love Gary's work! Share the same background, inner city grit. So familiar
Are you a roadman?
@@YorkshirePork are you farmer?
Man I can really resonate with the Gary’s childhood. Especially your family’s lack of money being a fact of life. Throwing away the trip slips because you don’t want to bother your mum and the guilt she’d feel that she can’t afford it. The moment I could be financially independent, I did it. Last time I ever asked money from my mum I was 13.
Love Gary's passion even though the topic is scary. Thing is though we are currently in the midst, perhaps at the peak and the point of no return, of the biggest wealth transfer in history. I'm sure he's aware of that and predicted it in private. He mentions Dickensian times returning and I don't think he's far off the mark.
this is so important. People NEED to understand that money's value is relative. if the rich gets richer they outbid everybody on assets and it makes everybody else poorer.
I’ve been following Gary’s channel for a few years now as well as Damien’s and I have to say this was a much needed and great interview. Genuinely though we as nation need to form a new political party as neither the Conservatives, Labour or Lib Dem’s will ever change the status quo and tax the ultra rich. Check out Nigel Farage every time he wants to push his agenda through he creates a new political party, his latest is called Reform. Gary, Damien, Ramin and Nisha would make the great initial members to embolden change. Other activists not withstanding.
tax the ultra rich to then do what? do you realise that if you liquidated all their net worth and divided it by the people in this country you would get a one time payment of around 3k.. not to mention all the wealth creation and jobs gone which would turn nations back into the stone age. So a wealth tax that gets what % of their INCOME will solve absolutely nothing. Stop being jealous of rich people because it will do you no good in life
Farage is an opportunist grifter. He's already done enough damage to the country, and has lost every election he's ever entered, except as MEP. After sabotaging that, he's now happy to have the UK taxpayer pay his EU pension. Slimy git.
Been waiting for this one! Great podcast as always and looking forward to the movement building...
The right tell everyone that “if only they work hard enough, they’ll become wealthy”. However, some very hard working people remain poor. This lie needs to be addressed.
This is a dangerous mindset. It's not only about working hard. You have to be in the right frame of mind, too.
So proud of you youngsters. You’re giving me hope for the future.
Gary has got a good heart, and you can tell he wants to do good for the future of the country. Never imagined when emigrated to England 11y ago, that you could have in 2024 a cue of hundreds of people trying to get access to dental care (this week in Bristol), or 12h waits to be seen in ED, or schools crumbling. When I look around I see a society progressing towards more inequality. Was lucky enough to buy a home here 10y ago, got friends now doing professional jobs (mostly nurses) working 50h week what cannot afford to get one now. One of the measures could be applied would be the payment of council tax by the owners of property, and make that exponential like 50£ month for 100k flat and 5000£ month for a 10million property, and everybody had to pay that even if the house was empty! That would probably decrease the numbers of empty houses by the rich (think was Garry that mentioned this on his podcast). And the labour party should be taking notes as a measure like this would popular probably to 99% of the population.
do good is promoting theft to you? wow
What do you mean? I was mentioning due to lack of housing, increasing the council tax according to house value and have no exceptions for people who are loaded £££ and trying to facilitate young families having a place to live.
@@pedroluzio6250 you claimed this idiot wants to do good, all he does is moan about rich people and wants to take their wealth away via a tax which is theft and will provide zero value to society due to corrupt govt wastage
First time on your channel because of Gary (following him since covid).
Thank you all.
This should be a compulsory listen for the entire nation
They should teach this at schools.
Share the shit out of it
But why? We don't do anything about it.
The 'prepping' that Gary talks about resonates with me. I was the first person in my family to get a degree and recall after graduation expecting to walk into a job. I very quickly realised that the route to these jobs had already been sewn-up by others. I was green as grass, but it was an eye-opener for me. Ultimately, I changed careers twice before settling on being a brewer/distiller. If you want to talk about a career that demands significant technical knowledge and mostly pays under £28k, brewing is it. I love my profession, but I'd also love to be able to not worry about money. I know that I'm not unique in that respect and other sectors are even more poorly paid.
Age of empires the one, Wolololololoooo! Top finance heads together in one video what a treat thanks guys
You, Gary and other relevant TH-camrs should form a collective to push this into the public consciousness. It needs a movement that's hard for individual people writing to their MP to do.
Gary’s channel is excellent. Let’s face it, every economist positively ignores distribution and inequality, despite it being the main issue of our time.
There’s no consequences for being wrong in economics aside from where Gary worked. In fact they make you prime minister. You can’t become PM unless you believe, or prepared to pretend, that trickle down economics works.
Yes its more like trickle up!!
Hi Damien and Timeyin. I always thoroughly enjoy this podcast and your own podcast @DamienTalksMoney because it really speaks volumes and you do that with humility in a professional manner. Your channel admits that there is a fault in the system but gives you the education required to progress, something to get 'ahead' of the game or at least gives you an insight into a swimming lane of those who are more fortunate. It gives you the tools (budgeting especially and investing) and enthusiasm to work towards your future.
I think that this episode was sadly the complete opposite of that. I understand that a lot of people support Gary because his message resonates with people. That being said, I find him quite hard to listen to. It isn't the swearing, that is just the way he communicates. But in his videos which I've seen, most of the time is spent talking about how amazing he is, how great he was/is with Maths, how he is godlike with predictions, how he is better than everyone else. Absolutely no humility unlike you two. I was curious about that and looked into him and found no proof to support what he was saying (not saying it isn't true but gives me even more reason to doubt). At the same time, his message was what, tax the rich, the world is set against you? Yes, everyone knows that, this is why we listen to your channel @DamienTalksMoney . To me, Gary just sounds like another politician and I get no value in listening to him (aka full of sh**). Reminds me of Trump a bit. Repeating the same thing over and over again until eventually, people believe it.
I am however appreciative since having him on the show, gives your channel more visibility and this means education for a wider audience. This is the value which I see in the video.
Greetings from Scotland and thank you for your content.
I love Gary. He has a heart. A brain and a heart.
As Gary has said there is a difference between wealth and money! For some they are born into it, and the rest of us take a lifetime to figure it out.
Best episode yet! I saw Gary the other day, should have said hi.
Where did you see him? I saw him in the queue for Soho noodle bar Koya, last year.😀
@@mousquetaire86very working class
@@crispyduck1706 I like the Regency Cafe in Westminster, that's even more working class!
We desperately need to get this movement growing so normal people have a loud enough voice to be heard as this inequality message is critical to almost all our futures
Wow, Gary really gets it.
I really do think there is an untapped silent majority of young people in the UK who earn ‘decent’ money, but can’t afford to get on the property ladder. I hope this silent majority follow Gary’s movement and we can shake the politicians into listening.
Gary, I’m right behind you!! 🫡
Really enjoyed this conversation, super insightful! Keep up the good work! 👏
He needs to be broadcasted around the world for all to hear.
You should get Gary back. This is the best podcast I’ve watched in a long time
Absolutely loved this! Felt very similarly in my first year of University. Everyone had spent their summer with the Reading List and wading through Paradise Lost. My Summer was spent packing boxes in a local warehouse! 😂
Listened to the whole thing now. Found this incredibly interesting. Thank you guys!
"I'm right when I make predicitions." Anyone who makes such a bold statement in the field of economics cannot be trusted.
I recall reading that Renaissance Technologies, the most successful hedge fund ever, is on the right side of a trade somewhere between 50-51% of the time.
It's not hard. The current lot are either absolutely clueless, or worse tanking the economy on purpose.
economics isn't trading. This guy isn't giving financial advice, his makes economic predications
Gary’s made millions off of questioning the shortsighted predictions of others. Economics is a field built on models with “exogenous” factors. The very fact that a factor can be exogenous and ‘outside the model’ makes economics a pretty useless subject for making predictions
Then in the next sentence told a story about how he lost 8 million in a day... 😅 #predictions
great chat here - such a great perspective from Gary. Good job all
Really informative. Huge thanks to you 3. I've seen some of Gary's TH-cam films. Good stuff. I think normal folks struggle to conceptualise real wealth. What multi millions look like in their accounts. I can't think what that would look like. So it's like it's not 'real'. Also I think the concept of 'an inconvenient truth' kind of kicks in. The middle class, who pride themselves on thinking themselves achievers and wealthy don't want to hear the reality.
Especially as those who disseminate the news are careful to tell the middle-class that taxing wealth will take their hard-earned money... and waste it on lazy benefit scroungers. In reality a majority of their taxes go straight to those who are already uber-rich.
Great discussion. The depressing thing is neither of our major political parties are willing to address this. Ultimately because they are both in the pockets of the super rich…..
The bigger problem is people are standing around waiting for the major parties to “get it”, which is never going to happen.
The only problem with Gary is that he rarely gives any stats or references to back up his arguments. He’d make a good politician
the major problem with gary is he is full of crap based on false lefty logic
@@James_36 haha i can’t say i agree with Gary either, but if he gave some actual stats and figures for his arguments he might be able to change more views
@@James_36you must be one of those trust fund kids he was on about 😂
But is he wrong? Is everything actually improving and what we see isn't real? The evidence is all around.
The only fact that you need to know is that our economy is stagnant because ordinary people are poor whilst the extremely rich have never been richer and thus have driven up asset prices so that they are out of reach for ordinary people, thus exacerbating the very problem I just described
I love this chap for explaining economics to regular people who can't really imagine the world of the super rich like me 💰💰💰
My wife and I worked hard (in Australia) - in a blue-collar industry for 35 years - we lived frugally, saved and invested ... now owning our own home and with a few mil invested, we don't think about money at all. We don't consider ourselves as being rich - but we would both be happy to pay an extra 1-3% tax a year if it would help others do what we have. But ... would it help? We don't know.
I love Gary. It's great to hear someone who really understands what is happening, but is on our side.
The problem is credit... the economic model we hold is no longer fit for purpose because our currency is completely debased and is getting more and more debased every day as it is untethered from gold or anything of superior value. I dont understand why no economist is discussing this. Central banks are the problem
really? who gives gold its value? what can gold actually buy? ZERO. I was going to insult you but ill give you some advice instead. Stop listening to idiots like this guy who is a conman and a liar. There is not a chance he was on the trading floor of a big bank being successful, he would not even hold the stupid views he has if he did he would still be getting rich in the bank rather than peddling a BS book
It allows the government to print money and then get the public to soak it up with inflation. It's coming to an end, tho with the rise of brics.
the rothchild banking system isnt going anywhere.
Money IS debt.
Debt is promised off skills applied in the future.
If you can make more money of your skills that the debt you(or your employer) takes on, you ARE the economic growth.
Wrong. Privately created credit-money is the problem- and it IS tethered to something "of superior value"- real estate- which is the collateral for 90% of credit money. Central bank money- correctly regulated- is the solution. no need for Gold.
The WEF did warn us this would happen in 2016, "you will own nothing and be happy"
They are wrong, you will own nothing and be Angry about it.
"YOU will own nothing...and THEY will be happy about it"
Also eat the bugs...
yeah not sure a tax policy will do much about it
Gary is totally correct about economists needing to talk to real people to understand what is happening. I see and hear economists and people like the bank of england claiming repeatedly that inflation is falling and easing financial pressures. Meanwhile one of the main topics of conversation I have with people is how expensive it is to do a food shop, how people find they don't get as much for their money and are cutting back to make ends meet.
Meanwhile inflation ignoring the mortgage rate rises that are adding hundreds to people's outgoings. Economists missing the point
When they say it's falling they mean prices are going up at a slower rate, not that prices are getting cheaper....😂
@@LawrenceTimme I know
what is real people? most ordinary people waste their money on dumb consumer BS flexing and trying to impress their neighbours, what an earth as an economist going to do with that information other than make him realise how dumb these people are
Great chat! I'd never heard of Gary but will sub to him now.
Loved this episode and pre ordered the book - kinda felt bad it was through Amazon
Try Abe Books instead
Always watch Gary Economics TH-cam channel as well as this one both first rate with excellent advice and analytics.
OMG, another one of my favourites on this channel, so happy to see this!
Very articulate and making the points that need to be made. Only divided are we conquered, and we are most definitely divided