How Covid £700bn Is Killing the Economy

[@helphelpimbeingrepressed9347]

I appreciate that you don't HAVE to do this, you could just go off & enjoy what you've made. Thank you Gary for making a stand for us all, you're a total legend for it mate!

[@blindstagehand]

Yeah, second that x

[@ryank3321]

He was only a trader at Citi for 6 years, I think he may over egg how rich he is to be honest, you don't earn enough in 6 years to not work again for the rest of your live from your mid 30s, so he probably does have to do this.

[@blindstagehand]

@@ryank3321 Lord Vader: I love the way you use 'only' classic derision if you don't mind me saying and assumption aside as to his motives, he remains motivated to do this and his policies make perfect sense to me. I don't think Gary is misleading anyone, I do think his motives are genuine and his mesage is real and important x

[@b00ts4ndc4ts]

he still trade's. You can trade from home through online platforms. But a word for the wise, stick to what you know and do your research.

[@c0rnf1ake]

@@ryank3321 actually if you listened to his story which he says many times in creators videos, it is clear that he was kind of a big deal and made (the bank?) (globally) the most money one year of any trader. Anyway he made millions betting that the economy would keep on faltering, and this being a contrarian position, seemingly risky, made him lots of money. He’s also said that he could have stayed with them and kept making millions but it appears that he’s broadly satisfied, not overly greedy and prioritises doing this. Maybe still does trading on side but yano, he could have just been like the others who only saw the money and became just like the rest of them. But instead he became someone that the world needs and I admire that.

[@getreal7964]

These are great videos Gary, so educational and important. Keep shouting about the £700 Billion and the need for a Wealth Tax. Get on TV as much as you can with the "this is why the country is f***ed" message and enough people will listen eventually.

[@jam99]

It's not just this country is it? Gary's justification for condemning furlough seems to be that 'the rich' spent less, something that would have happened regardless of furlough. It is a disgrace that the amount spent on covid has not been blamed, at least in part, for the inflation we are seeing. I am sure Gary has done a video on the alternatives to furlough. Please could someone point me to it? Rather than constant criticism and 'the rich' bashing, can someone point me to Gary's videos of practical alternatives for the system?

[@charliealphasix981]

Thanks for really hitting it home Gary, I tell people but apathy on the subject is fierce, "You're an alarmist" 2Stop talking about polotics" "That can't be right" is all I hear. No one want's to hear sense anymore....but it doesn't mean we give up shouting from the roofs. Keep it up mate, we're with you.

[@lazylad8544]

Without you educating us I think most people would bury there head in the sand. Please keep up with the videos. The country needs more people like you. 👍👍

[@phillipjclay5817]

I'm having to leave addiction work because the poxy "charities" running everything won't pay more than 25k and it's not enough to have a decent standard of living if you choose to be single. 20 years experience I have. I was paid 35k under labour. It's soul destroying I was never going to be a millionaire I just want a decent standard of living. We are all in this together

[@retinapeg1846]

recovered IVDU here, thanks for your help

[@KrazerRacer]

come back here every now and again to remind myself of UK's recent history

[@fairplay3369]

Keep up what you do Gary. We little people are so grateful for what you are doing. Your video explains what you mean about the wealthy getting richer and their accumulation of wealth that they don't need making and making us peasants even poorer. Keep spreading the message out there. You give us hope.

[@shugdee]

You’re doing great work. Keep it up. Supporting you from Australia where the playbook is identical. As an economist and a conservative, it still astounds me that politicians and the media machine get away with this crony capitalism. Sadly, most people don’t want to hear about it. I share your final comment too.

[@deborahcurtis1385]

It's so frustrating. The Labor government is signalling they will limit the tax benefits of Self Managed Superannuation Funds to about $3million. But by the time the legislation comes into effect the money has hot-footed it out, they will dribble it out using tax offsets etc until there's nothing left. Plus they don't say anything about unpacking trusts. This is a colossal impost on society, the enabling of wealth to be passed on tax free. And yet with Rupert Murdoch and his neo nazi son at the helm of most of the media in Australia, everyone is silent on the issue. The aspirational classes? Everyone is terrified of mentioning the war. The class war. Which means ordinary people are being pulverised.

[@oldskoolmusicnostalgia]

"As an economist and a conservative", can you enlighten us about any society which has been able to avoid this stage of crony capitalism? This is a serious question, cronyism in capitalist societies is very much the norm, not the exception or a deviation from norm. Meritocratic capitalism is a fantasy, using and abusing "connections" has always been there.

[@deborahcurtis1385]

@@oldskoolmusicnostalgia Oh we should all just give up then! Great! TAX. THE. RICH.

[@shugdee]

@@oldskoolmusicnostalgia I take your point. I’d respond by saying it’s a nuanced scale and not either one or the other. The level to which it’s compromised is important. For example, the closer a decision is made to the impact or outcome, the more information is available, and the decision maker is more accountable and transparent. Let’s look at areas we could reasonably assume to be compromised or ‘crony’. Big government, Big Pharma, Big Tech, Big Industry…. Get my point? It’s a sliding scale. Big anything almost requires democratic oversight, and I don’t mean unions or anything like that. Rules with which to abide and significant penalties for corruption.

[@MagpieEpicdude]

@@shugdee who adminsters these 'penalites for corruption' if politicans can be bought and sold?>

[@aileenhindley5964]

Never would I have thought that at the age of 70 I would be following, with great interest and some understanding, talks on economics! Thank you.

[@jezlawrence720]

Furlough: the way it was designed essentially was money laundering via the poor to the already rich. They should've ordered suspension of debt, rent and energy price freezes with suspension of stock market trading for those companies to protect them from devaluing. Landlords would have been ok because mortgages would be suspended. Perhaps a fund for them to call on for "maintenance" during the period, since that would have led to a surge in living standard improvements because landlords would suddenly be willing to fix that ceiling, replace that window, put in that insulation etc. They'd then have only needed to provide cash to people for necessities but without funnelling straight to employers and debt owners. I'm sure that's not a perfect plan but we needed to help people not companies and furlough *did* help people but only in the same way that providing medical care whilst poisoning your tea helps you.

[@MarkHooson]

Would love to see a video on wealth taxes. Where have they worked and not worked? Critics always point to failed attempts at it.

[@blindstagehand]

Sorry if I'm getting boring, but the tax issue is one that is close to my bank account, probably the simplest answer I can give you is because they are designed to defraud the average person and enrich the few that can afford expensive lawers and accountants. Tax evaision like this immoral and wrong, but legal. Legislation layered on legislation just leads to more and more loopholes. I believe the only time you should loose your wealth is when you volountarily want to excange it, otherwise hands off, so the only fair way to tax wealth is to tax expenditre. That sounds like VAT but it's not, VAT is only paid by the final purchaser, it is fraught with legal loopholes, some people even compare VAT registered companies to being unpaid tax collectors, they basically get to keep alot of the tax for themselves, their expensive cars and hotels and so on. So tax is the way they defraud us, and we should be demanding of our Politicians to change the tax system in a radical way, complete redistribution of all tax income to all citizens from a simple 1% transaction tax would be enough, and at the same time we can cut the other taxes back. The final point is that when the tax is so low, it makes it unprofitable to evade it, what's the point? And my other final point is it makes life easier to do trade, it doesn't negate the need to keep books, but it simplifies accounting.

[@johnburrows3385]

They could start with off shore tax havens ......but they won't.

[@BeautifulEarthJa]

Failed attempts means what?

[@blindstagehand]

@@johnburrows3385 The Labour Party will! and reparations should, but mabye won't, be made. Some sort of debt cancellation might work, that's what happened in 2008, the next time we bail out the banks though, I want my shares to return dividends when the Banks next get back into profit, not to be sold back at half price to the original shareholders and the other half of the real value goes into some offshore's pockets x

[@dawnwright5785]

You should be our next chancellor of the Exchequer Gary. You seem to be the only one that understands the economy and cares about the welfare and equality of the population

[@adbahasan6049]

Brilliant and simple, truth explained that we all knew but didn't knoe6exactly "how"?

[@basil3663]

spicier vibes this week! i think you're spot on that if we can make your average person fully aware of where this money has gone, no government with any sense of self-preservation would be able to stand against demands to tax the rich back what they were given and spend it on the public good for long. it all starts with asking the question: who has the money?

[@blindstagehand]

Yeah, where has all the money gone, long time passing... listen TAX is the issue, what we aren't doing but should be doing is talking about what the tax should be and how that should be redistributed. The simplest model is a 1% transaction tax on ALL transactions. That is then evenly, every month, to each citizen, and the citizen pays income tax on this income. All other taxes abolished, they are the way they defraud us. VAT lets companies with clever accountants avoid paying it and income tax is a tax on workers, it's shockingly close to slavery, EVERY transaction is taxed, and in that way it is a tax on expenditure. If the redistrubution of the revenue from this is absolute to every citizen, the income changes on a monthly basis,.. this is a good thing, it means we have our pulse on the economy, and can agree to any changes in the rate. A mixture of Conditional and Unconditional Basic Income is a difficult system to beat when it comes to designing solutions to equality and diversity in an economic society.

[@blindstagehand]

Hi again, sorry, to answer your question, who has the money? In the above senario the answer is it doesn't matter, they'll spend it sooner or later. It doesn't matter if people become rich, that's a good thing, they'll buy expensive things, driving more diverse sectors of the economy.

[@MHH76]

Keep doing what you’re doing, it’s very much appreciated

[@annstafford4789]

I think more and more people are finding out what the truth is, thanks to you. Your focus is amazing

[@paulwebster4499]

14.40 you summed it up in a nutshell, that's exactly how the UK is, I'm all right Jack

[@Boufonamong]

Don't stop championing this G

[@marcusdaniels9717]

Keep banging the drum Gaz. I’ve tried to explain it to people from our type of backgrounds and they don’t get it. It is difficult to be fair. I’ve watched your vids over and over to understand it. Ordinary people just don’t have the time and head space. It also isn’t on their priority list. Keep banging the drum. I will spread the word hopefully it will be impossible to ignore with time.

[@aislingmcdonald6778]

The reason why the rich, including our millionaire mps, get away with this con is because we the electorate don't take time to inform ourselves about what is happening. Yet we suffer the consequences!

[@marcusdaniels9717]

@@aislingmcdonald6778 agreed. Then when people suffer the consequences, some tend to blame small boats and other red herrings for their plight. It’s so annoying.

[@darv66]

i look fwd to my sunday hit fella , with a brew before i start work on my laptop,,,,,, your fast becoming the best undiscovered national treasure

[@andrewgardiner8918]

I watched an interview with Bernie Sanders earlier this week. He advocates taxing the rich.

[@jopo8281]

"This is all I go on about.." Fucking straight up double bless you fam x

[@HH-fm7bt]

1 second ago Loved your interview on Novara Media (how I first found out about your channel). You’re thoughts are exactly what this country needs thank you. Would love to hear your thoughts are on a financial model that has no interest and no central banks ❤️

[@Capped-virus]

I'm worried you're not keeping well hydrated Gary. Maybe get some more drinks for the table.

[@scottbramley1778]

Thanks Gary for your informative videos & giving back to the community. My question is how do you stop this spiral of wealth to the rich & what can the middle & lower classes do to get some of it back?

[@gardenmind4515]

Keep going Gary. The more awareness the better. All viewing share the message.

[@paulc5935]

Watching from Australia Great video Gary Been going through your videos really educational and excellent

[@lesleyrobertson5465]

Good morning from sunny Oban 🏴󠁧󠁢󠁳󠁣󠁴󠁿

[@Sirthanksalotmind]

Fantastic analysis as usual, mate.

[@mella8298]

17:36 - made me guffaw! 😀 fantastic stuff again, Gary. 👍

[@grahamdavid007]

great set of vids Gary - many thanks - wtf are we gonna do about it !!!! Try to get a (1hr) interview / chat with Nihal on BBC Radio 5 - 1pm - he's a good journalist and he'll give you bags of time to chat about yourself and explain this existential stuff to 4/5 million listeners - (good for this channel too!!) - cheers

[@DeputyChiefWhip]

Superb video gary. Cant wait to see where your channel goes in the future.

[@hectorbartlett567]

Dude, they squandered over an astronomical (and some) 37 billion on a "failed," Track n' Trace application. We're an island and we still had the highest death rate in Europe. Coming from an IT background, I am telling you. This is not logically possible, unless tens of billions (over 36 to be precise) was wasted or taken!

[@blindstagehand]

Do the laws of logic dictate.. spok!

[@davidwatton]

Hi Gary. Another excellent video. We seem to be in the middle of a ‘creative destruction’ of the economy. What are your recommendations on tax to rebalance the skewed economy?

[@FishSlappee]

I love the very final words of this video. Good stuff as always Gary!

[@RabbidTheNabbit]

One of the best videos you've done

[@garyseconomics]

Thanks, I also thought that this one was good

[@tonychorley4936]

I would love to see you do one on why economists miss this, perhaps even talk to some.

[@garyseconomics]

We have filmed something on this, I think we might put it out next week.

[@matic93t]

I just wish this video would reach 700bn views

[@martinrobinson9061]

Can these videos be turned in to a podcast please and also put on Spotify, Cheers. Thank you for informing us.

[@andrewwhitfield5212]

Probably make more money on KZbin. Not that that's Gary's aim.

[@srscrls]

I love this channel. Thank you for the work you are doing. I have a question, I'm wondering if we could still tax the rich if the much of the £700billion has ended up with large foreign companies who don't pay UK tax (eg Amazon).

[@deborahcurtis1385]

International co-operation is the only way to deal with this issue of offshoring. But everyone including the Royal family does it. It's normalised. Unless there is some way of raising a wealth tax at the time the profits are made. Very tricky to identify and enforce. The other thing is illegally obtained money being laundered by buying property with cash. This is a colossal contribution towards of the housing crisis in Britain and Australia yet everyone is thinking oh it's all too hard!!!.

[@chinalafen7628]

Research “beneficial ownership” you’ll then really know who’s making bank.

[@deborahcurtis1385]

@@chinalafen7628 What? How ignorant do you think I am? I KNOW about this and I have a background in law and regulation. And I'm telling you only international co-operation will work, ok? Research my @. The issue is how to regulate the practices because you can have teams of researchers and it makes no difference. It takes years of research to bring one case before the courts and then even the best situation is only a 50/50 chance of winning. You have no idea.

[@deborahcurtis1385]

@@chinalafen7628 PS sorry for being snippy but I'm a bit fed up with social media today it's full of half @sed comments and very little real expertise.

[@louie-e9v]

I noticed a huge growth in Cardiff of housing property building on farming lands and fields turning them into new estates

[@unremedio]

Damien talks money explains exactly what your next video idea is all about. Both of you are greatly informative

[@TamDNB]

Great series Gary, cheers

[@darrenwhite3103]

Top work yet again Gary, thank you for taking the time to share your insights. I don’t have a great understanding of finance, but thanks to your expertise I’m learning more about the balance of power, what you’re saying makes perfect sense. I was working for a packaging company before and during the pandemic and they managed to secure funding to produce disposable PPE during lockdown. In the January before lockdown they were going to have to lay us all off and the pandemic basically saved them. I don’t know how because the place was so badly managed that it should’ve gone under, but they kept applying for funding and getting it no questions asked. Just by seeing this at the time, I couldn’t help questioning the validity of the whole scheme. It seemed perfect for some individuals and companies to exploit, and the government have shown zero interest in trying to recoup at least some of our money, which again points at their corruption.

[@grahamknights3564]

Like the way you won’t let this go Gary, this government who work for us need to explain to us in detail where the billions have been spent

[@lynnemoody7886]

Gary, i have tried a few times to share this on Twitter, will not let me !!!!!

[@mohamedaissat1910]

In my town all derelicts building were bought by rich people and left to rot...

[@GreenLarsen]

Something related worth mentioning. That I also feel way to many economists forget to talk about. There are basically 2 groups someone can invest in: 1) Something that create value from the investment (think new machines in a factory, that can produce more/faster = more value). And 2) Something that do not create value by itself but where the investor hope for the active to just increase in value ( think gold, land, houses) Someone with low income spends all their income, whereas someone rich cant spend it all. So if more wealth is moved from the poorest to the richest, then less total spending will take place. If less total spending is taking place, then the value of any investment that create value drops. Since less people will be able to buy the extra items (value) created. On the other hand will "passive" actives increase in value. Since investment still need to take place (no one want to just have money under their pillow). So, have this happened, yes. Ever since the 2008 housing crash, investments in production etc. have dropped. And investment in houses, gold, art etc. have gone up. This mean that we as a society are investing less in what is going to make us value and more is "passive" actives.

[@aseidinfo]

have you also considered/pondered the theory of bullshit jobs? Corporate jobs are mostly adult kindergarten, day care. We are mostly working 5 days a week, 8 hours a day why? Because of some outdated rules some management course provided at one point. But with all the technological advancements proven to have increased throughput and productivity, automated most work, why are we still working and why is there more wage slavery? Most likely because if the ruse was unveiled for a critcal mass of people, the system would soon then collapse and their passive actives wouldn't hold any value whatsoever.

[@Alex-cw3rz]

One thing you have to remember is Marginal Propensity to consume the rich didn't start buying loads, this is the reason the economy didn't recover or improve. It's the reason we didn't have 700 billion worth of inflation, in fact inflation barely budged from the 700 billion and 3 trillion from the USA in of itself, because almost all of the money was saved and the rest on stuff like stock buy backs. This isn't in anyway supporting it, it's just the inflation pattern does not match up with when the money was given. Obviously inflation is confidence based which does make it slightly ambiguous.

[@johngriffin2872]

Top man Gary

[@facelessvaper]

If there was a "collapse" who would it affect? & what would it look like?

[@CloudhoundCoUk]

The government knew full well where the money would go. The £700bn went largely to Tory donors and voters.

[@matveyshishov]

Gary, is it possible to analyze two questions? 1. How it is similar/different for the US. 2. The UK is not a closed system, what's going on with international capital and wealth redistribution? Is wealth leaving the UK? Is it being reinvested in the UK? Is it being pumped purely into buying all real estate in the UK, Monopoly style?

[@louisepople338]

Gary do you have any info on where the money goes for donations like Red Cross? Millions have been donated here in NZ after Cyclone Gabrielle yet no transparency......

[@Skylark_Jones]

The bank crash and bail outs of 2008-2010; Brexit (that is still a work in progress); Ukraine war; energy hikes (which began before the war!)... Liz Truss and Kwasi Kwarteng's disastrous budget announcement crashing the economy... It seems to me that everytime there is a big crisis it is always poor & ordinary people forced to pay the price. But from the government and corporation point of view these crises are opportunities for getting richer - hell, they would manufacture a disaster if it meant more money going to their offshore accounts!

[@garyowen4112]

they already manufacture disasters,its called war

[@blindstagehand]

What, a disaster like, war in Ukraine,.. I suspect they would, catch 22 straight at ya! The most cynical war movie ever made?

[@lillyho2635]

You are right! commercial banking systems tie with big corporations as a lot of companies or trusts are created by groups of investment bankers and hedge funds. They easily establish monopoly control over many industries to be price setters. They create the market for money supplies and demands and manipulate it as much as they want. They love showing off their monopoly power with merger and acquisition deals. They always win no matter how the market reacts. They themselves create inflation within their monopoly networks that they control. Not to mention the fake cryptocurrency they create for their own fantasy world, which already caused chaos. They want to live in the world without regulations to do what they want. The oil and gas cartel that is controlled by the extreme Arab Saudi regime, and the Koch organizations in the U.S. are examples of how they control and manipulate the oil and gas industry. They don't care about catastrophic outcomes they have created to harm others. Nothing can stop their animal inclinations as only power and money really matter to them. The most important thing is that they control corrupt politicians. That's what they have done with Brexit.

[@the-green-racer6925]

It’s day light robbery of the poor what’s happening. I hope you get the attention you deserve! Everyone needs to hear your message especially the way you can get the message across in such a relatable and understandable way. I will be following hoping you rise and get the support u deserve. I think you will.

[@markmcewan9352]

Hi Gary, great explainer as usual - is there anywhere you have written about your analysis in more detail?

[@lewismclay8858]

GARY! You should host a podcast with other experts where you discuss potential remedies for inequality. The problem is clear. What we need is a robust solution and a solution could take on many forms, each with their own potential pitfalls P.s I love the work you’re doing, the book was great, please keep up the good work .. we need you

[@terryalford5538]

Well explained again.

[@Alex-cw3rz]

Great vid

[@tanners1456]

Appreciate your hard work delivering these clear explanations as to what’s going on Gary! Do you know how the £700B compares to other similar European countries expenditure and how other countries handled things differently? Also, do you have a reference for the £700B figure?

[@kimwarburton8490]

I think tories did it deliberately It is also brexit driving up prices, not just covid, delayed supply chains, increased inequality n war, which is why uk has the worst situation. Msm is pretending to wrack its brains as to why uk is so much worse when all comparison countries have had war n covid n took similar decisions, brexit is the difference. We now import more food, more of it from non-eu, we are farming less due to uncertainty n lack of eu funding n workers making it now less profitable, drivers dont want to wait ridiculous times to cross channel etc

[@blindstagehand]

laughing! x I agree, I think the Tories give this stuff A Lot of deliberation! Deviation, Hesitation, Repetition for starters, and them's just the rules of just a minute, deception, reflection, distraction, glossolalia,.. basically a bit like a big casino economy! I love the adjective of Deviation, its Devious x

[@AjBanjo]

Hey Gary, what do you think about black rocks Aladdin. I am new in the economic space but have been enjoying learning from you. what are your thoughts on this as I have seen so little research and deep dives on this algorithm?

[@lololop58]

Thank you for keeping us educated and keeping this subject easy to understand. Brilliant arguments makes on BBC’s politics live too and calling out all members of that panel on their failure to do anything/very little to address this economic situation. Gary, one question on that show - you said the rich pay very little tax. Can you explain a bit more on this?

[@garyseconomics]

Here you go: kzbin.info/www/bejne/f6mxpYKMbp2Yg5o&ab_channel=GarysEconomics

[@Fouraday]

The IFS proved that the top 1% of UK households accumulate 10% of household income. I wonder what the top 10% of UK households accumulate…

[@deborahlea5669]

The more the term 'Levelling Up' is bandied around the more we know we are being laughed at by this government! '

[@blindstagehand]

Levelling Up is code for Syphoning Off x

[@paulsmith1035]

Gary please can you produce a video about venture capitalism and how these vultures get rich by burdening healthy businesses with massive debt by acquisition then drive profits up by aggressive redundancy measures etc

[@TylehurstXL]

Excellent video, economics in plain English

[@oxherder9061]

Nice to see someone win the economic game and then proceed to skewer it with accurate and biting criticisms of UK fiscal policy. Most people just go on an ego trip after "winning" at trading.

[@Ab.Stat.]

One worries that if this doesn't become common knowledge then similar policies might be deployed in future.

[@LeeP2165]

My in-laws got £20k handed to them at the beginning of Covid. They had 2 property's that they rented out as holiday homes. They got 10k for each one to offset any losses that they might have had during lockdowns. They didn't even have to apply, it just got handed to them

[@nicholasmartin297]

Hi Gary. Just to let you know the sound quality on the video is very poor. I can’t hear the “s” sounds - even with headphones. Thanks for everything you are doing.

[@tomdavis8644]

Do you think there needs to be a Land Tax as a way of taxing Wealth?

[@jezlawrence720]

What you describe about Ukraine as an excuse was exactly my first thought when the pandemic started: every problem with brexit will now be masked by the pandemic. And Ukraine similar. News was full of inflation worries for six months before that, bojo refusing to admit it and so on. Soon as it started I was like "Jesus they'll just move to masking the problems by pointing to this now". Politicians are stupid easy to predict. Everytime there's a crisis, stop listening to politicians for the reasons and start listening to experts who don't write for a major newspaper or TV channel.

[@jezlawrence720]

And yes I realise my first thought being about how politicians would abuse the situation rather than being all the potential death and suffering makes me seem something of a monster. I can't help where my brain goes first! And actually it's the weary sense that at almost every turn over the last 13 years politiicans seems to choose to increase suffering in the name of "wealth".

[@Skylark_Jones]

Since 2008 I always dread whenever there's a crisis, because it's usually ordinary people like us that end up paying for it one way or another.

[@dennissmelly9599]

Also governments print money and give it straight to arms companies making the situation even worse.

[@jezlawrence720]

@@dennissmelly9599 at this point I'm more concerned with the way they're printing it and giving to energy companies - specifically producers - via energy top ups. A windfall tax means nothing if we're paying them the difference straight via the tax pot. It's furlough all over again: a curse dressed up as a boon.

[@keycuz]

Basically every news story is propaganda to keep people worried about symptoms and ignorant of causes.

[@AlanDevOps]

The Government and policymakers need to prioritize addressing and reducing inequality in their economic policies. This could involve redistributing wealth through taxes or targeted financial support for marginalized communities. Will they do it?

[@teleny3127]

Thanks for your video Gary, it was crystal clear. When are you planning to publish your book? Would it be about economy or some other subject? Many thanks.

[@garyseconomics]

I think it will be out in about a year. It's a story driven autobiography really, but will have a lot about the economy in it.

[@grzegorzwasik3388]

Year to year a few percent of the richest people gain and we all lose. It is so frustrating.. great video Gary! We will push them :D

[@mq1563]

You should go on Russell Brands show. He reaches a wide audiance and digs this kind of stuff.

[@skymochfilms1206]

Yesterday, I asked my little one the question about the money being given to the rich and he immediatly said they would keep it. Essentially the way Neo liberal capitalism works I guess he's right. I'm telling people all the time about this £700 billion, making the comparison that the recent recording breaking football transfer amount in the uk for January doesn't even come close to the amount that the government has given out and which remains unaccounted for; a heist has indeed taken place and now they are laundering the stolen monies. At the moment we may struggle to comprehend the amount and just think it was part of a necessary emergency response to COVID. Yet it was government/ media who insisted on this patriotic "all in it together" "war" effort which drove myself and my partner out risking our lives as key workers to continue the public service to others who were more vulnerable; I can still hear the beating of the pots and pans echoing in my mind as I try to sleep at night. Anyway, so at times I would wave my little letter from Head office or flash my id at check point Charlie just to get back on the battlefield. While it seems that others deemed more valuable in our current economic set up sat at home (or partied) and enjoyed profits. The disgrace of it all is that if we continue the governments reference to a war effort (assuming Second World War) then we would be wise as a society to learn from similar history lessons about the aftermath and reconstruction of society after a war. Again if I were to generalise, the irony should not be lost that many of the nationalisation projects under the post war consensus across parties after World War 2 led to a slight increase in social mobility (increased against by the 60's protests) and what little wealth is now left from an older generation (sadly now in decline since 71 and the deregulation of money) . Now with the increase in prices, living crises and deliberate collapsing of the public sector I find myself and family as vulnerable as the very people I have been helping. The importance of what Gary is trying to acheive should not be taken lightly which is to keep the cruel financial abuse of many people in this country a current issue that needs addressing and not for it to be consigned to the history books as footnotes for entertainment for those who survive. I will keep banging on about the money, not with pots and pans, but in other protest/ political groups until they ask me to leave the room.

[@nashwan888]

Gary can you do a video on the Bounce Back Loan which has been changed numerous times, extension, PAYG, payment holidays. Do you think it should have been a grant. I used it to pay my rent and essentials.

[@TheSlinkyinky]

Hi Gary, This is one of your best..... 💝 you are getting better and better as an orator. 📢🔉🗣💖 I can literally see your speaking evolving and as such your clout strengthening as you spread this message. I wonder if you went to see Bernie Saunders public speak this week? * Obama progressed from.senator to president with persistence * #TheMessage #GarysEconomics

[@jopo8281]

I like the lighting of this video. I also like the message but that goes without saying now really. Bless you G x

[@garyseconomics]

It is the beautiful London winter lighting

[@jopo8281]

@@garyseconomics yeah I've been getting summer vibes lately when I look out the window. Changes when I take the dog out and it's 2'c.

[@johnaistrup9250]

Absofookinglutely Gary! 👌👍👍👍

[@alanscott2422]

Gary, thank you for pointing out the ship is sinking and who put the hole in it. There is a lot of conversation on water rising, but what would be your economic plan to stabilize, correct, and rebalance. there I say it.... prosper?

[@bigdaz7272]

Doing Gods work Gary

[@ChrisKlein0]

The way I look at it is most politicians own large houses, they mostly also own more than 1 due to the allowances, some even own multiple and are landlords. That means they have no interest in fixing things like house prices as it will actively damage their net worth and make them worse off. The current crop of politicians from both sides of the spectrum are the same. They are career politicians and won’t and probably don’t even know what to do to make change. All I know is that I’m 36 and house ownership is getting further and further away for me and I dread to think what it will be like for my son. It’s corrupt and broken from the top down but they all stick their heads in the sand and blame Putin and the war in Ukraine when we all know the seeds were planted in 2008, made worse by austerity, put in overdrive by covid and then Putin gave them the get out of jail free card because people just believe what they’re told. Keep doing what you’re doing mate, eventually enough people will start to realise what’s going on and one day something will change.

[@gregsimms-zq1nn]

No one moaned when Sunak gave them free money…. They are only moaning now they realise their is a consequence for that madness!

[@garyseconomics]

I moaned kzbin.info/www/bejne/e5rFnXunl9WLftU&ab_channel=GarysEconomics

[@mattstevenson5849]

The poorest in society NEED housing benefit, universal credit and support with their energy bills. The government sell bonds to the rich to pay for that social safety net. Working class people then have to pay these bonds back, plus interest. You tax wealth to pay for those policies - no debt, no interest.

[@YouDoTheShoot]

you should make a video on how the gov should have handled the pandemic financially speaking I think that would really help to illustrate your point

[@Hunter-type]

You have made me think about the nuances of 'Who benefits" take Clean Air Zones (CAZ) Bristol have just introduced it, pushing vehicles to the edge of cities. but what is really the motivation for this...... the only people I see benefiting are finance companies and banks who councils send business to in the way of people who want to upgrade their new cars and vans to newer cleaner vehicles ... this is a collaboration between councils and banks, they offer you a grant as long as you take out finance with the banks /finance companies..... they are raking it in....

[@davidrogers8030]

Perhaps the most effective way to change the whole tone of politics would be to demand total financial transparency as a condition of office.

[@flicksbyhans]

Did we see any money flow into the stock markets?

[@carlrhodes3421]

Another great video Gary👍 Just didn't quite understand the part where you said it was basically illegal for the rich to spend their accumulated money.

[@garyseconomics]

Simply that the industries that they usually spend a lot of money on (hotels, restaurants, bars, holidays) were all shut down

[@carlrhodes3421]

@GarysEconomics I realised the answer to my own question not long after I asked it. 🤭 Thanks for replying though.👍 Much appreciate all that you're doing.

[@normanchristie4524]

Economics is a fascinating subject....Joe Public ignores it because it is too difficult to comprehend, a bit like politics, yet these are the areas that most influencial in life.

[@kevintitley4970]

Brexit has had a big part as well. We need to get rid of the TORIES.

[@cdansmith9753]

Spot on again Gary

[@Change_O]

I'm not disagreeing but some things to consider. Many people who were furloughed during Covid had limited travel expenses, as were not commuting to work. Designer trainers sales were high during the lockdowns.

[@mousquetaire86]

I understand how this wealth transfer causes assets and luxury goods/services to increase in price. But what about food prices for fruit and veg? Can that really be blamed on this? Restaurant meals, food that's been elaborately prepared, yes, sure. But the rich aren't going to eat 5x more apples.

[@blindstagehand]

Nah, the rich are going to spoil their family and friends, that's trickle down economics. The problem is that 'trickle down' economics has becom 'syphon off' economics. The answer is to tax expenditure, and nothing else.

[@dazzonway]

Convincing turkeys to vote for Xmas...even worse asking for 2 xmases a year

[@andrewgardiner8918]

Everybody, have a look at the Politics Joe interview with Bernie Sanders. It's called "Bernie Sanders spells out why capitalism is failing". This is what's in store for us if Wealth Inequality isn't tackled. I tried to raise Wealth Inequality on Question Time on Thursday. Hardly any response. I must try harder.