Millionaire Exodus!

[@PBoyle]

📥 Your business deserves a website! Create one for free at ➡ www.odoo.com/r/dN4 My new website: www.onfinance.org

[@DavidWhite-n7v]

Get a new video editor who doesn't put GARBAGE ai stills over your speech. looks tacky.

[@hebestreitfan6973]

Odoo is one of the very few sponsors I'd get excited about. I'm a software guy and theirs is actually Free Software (as in freedom, not beer). This has a ton of benefits and is very rare in commercial software.

[@bobybrimm5202]

According to the 2 charts presented 33300 have moved out of a country and only 25800 have moved into a country, meaning countries on that chart, which leaves still rougly 7500 or 1/4 that are chosing different destinations and in total that is more then the number of those that have moved to UAE and is half the number of those that left china. I'd like to know where those people went :)

[@البومالصور-ن5ج]

صوتك منخفض جداً لا أسمع بوضوح

[@theforsakeen177]

@@hebestreitfan6973 there goes webdev

[@Kalarandir]

My biggest takeaway is that the uber-rich want everything a stable government can provide but don't want to pay for it.

[@doujinflip]

America’s “temporarily embarrased millionaire” libertarians pitch for the same, thinking a competent government can be somehow achieved without public spending or vital reliance on foreign markets.

[@VincentBeauregard-i8o]

Ancient Rome's patron god of the wealthy was also the patron god of thieves.

[@LeXx0r]

I would disagree. Here in Switzerland, rich people are 'happy' to pay for it. By that I don't mean they are literally happy to pay taxes. But they (and most reasonable people) understand that a well-functioning state with infrastructure, education, a legal system, etc. needs tax revenue. It's just the absurd percentage that normal and rich people have to pay in high tax countries like Germany, the UK, Spain, etc. where the taxes levied are completely unreasonable. Why should anyone with half a brain want to work literally 50% of their time for the government? Makes no sense.

[@lucgga1419]

The tax rate for the median income is about 25% in Germany 💁‍♂️

[@LeXx0r]

@@lucgga1419 If you consider all taxes and duties (including VAT), a german family with a median income pays roughly 53% in taxes and duties from their gross income.

[@NonBinary_Star]

its ok to blink Patrick, we come in peace

[@r_unner_G]

He sleeps with his eyes wide open

[@dawnfire82]

He's an AI, he can't.

[@MrOrbion]

🤣

[@shangobunni5]

LMAO! 😂

[@YourHineyness]

I watched a Joe Blogs video last night and one comment was something like "he blinked 120 times in 2 minutes!". Welcome to KZbin, land of extremes.

[@PotsandPansWhatsPotsandPans]

Your content is so not my thing but your delivery keeps me coming back. I’m educated against my will. The financial and economic info, I mean. I originally found your channel while looking for rap news.

[@RichWithTech]

This comment ended in exactly the way I hoped it would

[@andreljungberg4255]

@@RichWithTech😂

[@nathansmith8187]

That's pretty funny.

[@dopedrums]

LOL, too funny.

[@aandwdabest]

I love his way of delivery. It’s slow, yet concise and clear.

[@juicymelodic]

I don't think millionaires from Zimbabwe were taken into account.

[@markusgorelli5278]

They aren't any. Everyone's a billionaire. Heck, I'm a Zim billionaire too. A trillionaire even. I went to the forex (on ebay) and traded some US for some Zim trillion dollar bills. I probably paid too much for them but I thought that I might not have much of an opportunity again. I was right. They knocked off a few zeros not long after. lol

[@Sillynyan-360]

@@markusgorelli5278 thats the joke

[@sprinkle61]

Zimbabwe's millionaires know well the effects of inflation. Fortunately, its not too hard to become a trillionaire there, if you find the right piece of decarded paper on the ground...

[@parkerbohnn]

@@markusgorelli5278 I'm still working on the first billion in Canada. Some of my relatives are in the Canadian Who's Who and are billionaires.

[@graxxor]

He did say the report was in liquid US$

[@edbardoe2195]

I thought it was touching that you expressed the idea that politicians should follow a logical approach to issues.

[@Zyphera]

They are though. The logical is not the face to there voters though. It is to there true masters.

[@cbyrne08]

It's funny to think that when I was a kid the concept of a millionaire felt so out of reach. Now though due to house price rises and inflation basically anyone over the age of 65 in major cities who owns their home is likely a millionaire.

[@yokothespacewhale]

Over the age of 65 (and still living off healthcare spending) is right there. the median income of the living and working human population in the uk is 33k pounds so yea I doubt there will be many living millionaires over 65 there in the future

[@tomlxyz]

Not with a liquid million tho

[@EvilMAiq]

Many are owned by the same few people.

[@zagreus5773]

Sorry, but that is an insane statement. About 5% of the population are millionaires and about 10% of houses are worth more than 1 million. That just means that if you own a home you are about twice as likely to be a millionaire. Pretty much what you'd expect, I think. And if you bought your home with debt, even if it is worth 1 million dollar, your net worth could still be below 1 million.

[@SushmaVivek-xq4nv]

Inflation???

[@EEVblog2]

Everyone who owns a home in Sydney is a millionaire.

[@Gunni1972]

Everyone who owns a House in Switzerland is too.

[@alltheusernameswastaken8936]

also in Zimbabwe

[@danguee1]

​@@alltheusernameswastaken8936trillionaire

[@tomkandy]

Usually "millionaire" is taken to only include investable assets, which primary residence isn't; and in USD not dollarydoos

[@vivienslennett7197]

Don't come to Australia. Our living standards have dropped. Our government has lost all credibility and our houses average around one million in capital cities .

[@jjj8317]

It is quite telling how Canada is attracting such large numbers of millionaires and yet the educated young middle class wants to move abroad and poor people are struggling

[@liamhotspur9182]

Yes, indeed but what do you think they did to attract the upper class?

[@bjorntorlarsson]

In Western Europe most new millionaires are created by parasiting on the tax payers and by inflation profiteering. They love globalist socialliberal clowns like Trudeau and they hate filthy children and workers.

[@jjj8317]

@liamhotspur9182 Money laundering. You have rich children from Chinese aristocrats, Africa dictators, and other people who wouldn't be allowed into the US. I have classmates who outright tell me they are just moving their parents money. How else do you think a 20 year old who never worked is able to buy a GTR, and an apartment?

[@jjj8317]

@liamhotspur9182 in the meantime, I was let go from my job because they hired like 20 Indian people who are earning 20% below the lowest market wages. People with families were let go and I am struggling to even paid for school next semestre before I graduate from uni. Believe me when I say this, cansdian politicians have no idea what thry are breeding at the universities. Everyone is radicalized crazy fast because the main parties keep ignoring the youth, the middle class, and the poor. My parents came here to scape communism and it is quite scary how rapidly people radicalize.

[@bjorntorlarsson]

​@@jjj8317 Oh, the Chinese aristocrats who manufacture all the great stuff and who build a hightech, rational, crime free, clean society. Who in less than 50 years lifted a Billion human beings out of starvation threatened poverty, to quickly advancing middle class whose children now takes PhDs in science to promote further creation of wealth. No human being has ever done more good for all of human kind than those who are running the Chinese government! You don't mean the socialliberal maffia politicians who steal 50% of everyone elses incomes in tax, and give away those €Trillions every year to their bribing ultrarich special interests? Or the parasiting traitor generation who ruthlessly enrich themselves on the homelessness of their children's generation and the general zero interest rate inflation. Whose only goal in life is to die before the Ponzi scheme collapse. Who never created anything that has any value for anyone.

[@MTerrance]

Over 20 years ago I worked in India for a few years. While there one of the locals I worked with had relocated back to India (Bangalore) recently. I asked him what it was like, making that move back to India (having been born and raised in India). His reply was (I thought) hilarious: "I can find all of the luxuries and none of the necessities." Stories about people who were retiring back to India and then re-emigrating within a year or two were not uncommon.

[@aravindpallippara1577]

Bangalore is a somewhat terrible city to live in despite having the best weather for someone who is from an even more tropical area. It caters to most whims and luxury at a remarkably low price while roads, roadsides, public healthcare and public transportation is terrible. Especially the water and sewage system is beyond redemption. I still continue to live there most of the year because of the job, it being a city and being somewhat close to my native.

[@MTerrance]

@@aravindpallippara1577 I was there in the late 1990's so I assume it has changed markedly. I really liked the people and am glad I was there, but I have never wanted to return. The traffic was impossible. Sanitation was spotty at best. I got food poisoning about 4 times and it took at least 5 years to recover my digestive tract. Other than that, it was fascinating.

[@claymadness]

Bangalore’s an urban nightmare, as are all the other big employment-generating cities including Delhi-NCR and Mumbai. I love the country as someone who’s from here, people are decent for the most part, luxuries are affordable (though that’s less of a pull for me), but the quality of life that’s ghastly. As someone with a decently paying job and able to afford private healthcare and excellent schooling for the kids, these two aspects don’t bother me much. But the terrible air pollution, general lack of civic sense exemplified by widespread littering, constantly changing policies and regulations, and the difficulty of navigating the city with terrible traffic definitely gets to me. I’m not a millionaire but relocated last year and don’t see myself moving back any time soon especially with a child on the way. Further, house prices in a decent part of any of the big cities are pretty much out of the reach of the regular salaried middle class, why would I pay advanced economy prices living in a developing economy simply due to real estate speculation led by ill-gotten wealth being stashed in real estate? The seriously deep income inequality will also likely spiral into socio-political chaos in the next few years. It’s a ticking time-bomb and honestly quite sad for a country that has incredible potential.

[@bubba99009]

@@aravindpallippara1577 Course those problems are all about as bad or even worse in any other big city in India.

[@main_stream_media_is_a_joke]

​@@claymadnessThe percentage of "educated and skilled" people in India vs the remainder is so wide it's definitely a ticking bomb. The so called rich/debt laden people with their fancy debt fuelled lifestyle makes the others feel even more shunned. Combine that with a "special" section of the population who multiply like rabbits but don't want to upskill themselves and would rather sell their votes for freebies....and we have a serious problem at hand that just might get completely out of control if things are not tackled with some seriousness. Both political parties offer freebies to keep getting votes while the middle class keeps bearing the burden of keeping the country afloat. Good times ahead indeed.......

[@mat3714]

I just love how you constantly drop "the plain bagel" posing on a luxury car 😅

[@reasonablespeculation3893]

a million isn't what it used to be

[@maxmeier532]

Thank you for explaining inflation.

[@JOESMITH-qs8ue]

I was going to state the same. Millionaire hasn't been a exclusive club for some time now.

[@metranomic]

It's a million in liquid assets - cash, bonds and stocks - in addition to any illiquid assets like real estate and businesses. If you have over a million in cash savings, you're likely to have at least that much or more in real estate.

[@CorporateShill66]

a million is what 100k used to be :(

[@bjorntorlarsson]

​@@CorporateShill66 No, USD and GBP et cetera western currencies have lost 99% of their gold value since year 1900. So a million is what 10,000 used to be.

[@SirOsisofLiver]

Every time you showed a Canadian, I laughed so hard I almost dropped my axe! Great video as always!

[@zapfanzapfan]

I'm a lumberjack and I'm ok... 😉

[@galerussell1710]

I work all night and I sleep all day?

[@seneca983]

The best one was, of course, Richard Coffin.

[@ljragsandfeathers]

You can see Richard Coffin’s rented Lamborghini is parked in a Timmy’s parking lot 😂❤

[@sebastiencarrieres8825]

Careful with that, you might startle the moose you're riding!

[@nottera]

You can see at 5:50 that Portugal receives 800 millionaires while Brazil looses 800. I suspect a big deal of that is of retirees, Brazilians consider Portugal a great place for retirement: it’s cheap, same language and there’s no income tax for retirees whose income comes from Brazil

[@maxmeier532]

it's actually not that cheap (anymore). there has been an influx of emigrants from the US in particular, buying homes in the nice places, increasing the cost of living of natives.

[@weird-guy]

Cheap 😂😂

[@weird-guy]

Rich Brazilians,Americans,Brits ect even Chinese already brought ou the country. The Brits own Algarve, Americans Lisbon ect they are a few but there wallets are 2x 3x 4x bigger than ours 😂😂

[@DwightStJohn-w1l]

@@weird-guy the cheap areas are in humid, interior, abandoned farms and villages with bad water, scorpions and snakes, poor roads infrastructure, and insular people. those farms on the market cheap were abandoned....fifty years ago.

[@Nick-from-norfolk]

Portugal is dying, it desperately needs immigrants, what better than Brazilians? It’s sort of an ironic reversal like Italian Americans buying real estate in italy

[@element7795]

I really appreciate these vids for adressing important topics intelligently without repeating the talking points of self appointed media experts.

[@aidan5256]

I think a lot of people in the comments missed that he said liquid million. Helps to contextualize the rest of the video

[@OhAwe]

I wonder how 'liquid'. Because that just seems irresponsible/thick. I can't even fathom why I would need to have a mm cash. What HNI doesn't have credit?

[@parkerbohnn]

@@OhAwe I've got about 20 million Canadian liquid cash all in Mexican Pesos earning daily interest down in Mexico.

[@OhAwe]

@@parkerbohnn Why? All my capital is in assets making me money, I don't really understand why someone would do anything else when the cost of credit is substantially less than ROCE.

[@jimmcneal5292]

​@@OhAwe "liquid" includes stocks and crypto

[@alexbank4879]

@@parkerbohnn no you don't

[@jdyn8691]

Im a hawaiian, Hawaii resident and we have a major immigration issue regarding foriegn corporate conglomerates buying real estate through harmful practices and stealing land from natives. This effecgs landscapes, sacred native lands, burial sites, historical landmarks, and ocean and plant life. Hawaii is full circle of a thriving ecosystem and people but foreign entities are attempting to ruin what makes this place what it is. We will eventually just be land in a body water used as a tourist attraction with just hotels and with no hawaiians

[@vmoses1979]

How is that an immigration issue exactly? That is a legal/business issue and your legislature allows it.

[@component9008]

yes, but if there wasn't single family zoning, less land would be taken up by housing, and thus less environmental destruction. this could be more of a issue than investors.

[@arkadiuszrenc1498]

​@@vmoses1979non Hawaiians move in and destroy their culture. It is both legal and immigration issue

[@kikiTHEalien]

I am surprised to hear it isn't still, as that's how I've always seen it through media.

[@herohero-fw1vc]

My wife is from Hawaii, the US govt doesn't care about native Hawaiians. Silicon Valley billionaires have been buying so much real estate locals are pushed out from their own lands for a long time.

[@David.Marquez]

It's interesting how the process of immigrating anywhere is trivialized by just coming in with a gigantic bag of cash.

[@ZontarDow]

Well given the issue is that in most developed countries there's a serious problem of immigrants mostly being economic parasites, it's easy enough to argue you'll be a contributor if you come in with too much to be anything else.

[@asmo1313]

In the Netherlands they don`t even need a bag of cash.

[@TeamSprocket]

​@@ZontarDow Yet these "parasites" seem to be let in in huge numbers, despite the rhetoric against them. Very interesting.

[@maxmeier532]

@@ZontarDow calling a whole group of foreign people "parasites", I have an idea where this is going. Funny enough, you're playing both sides of the story in this comment section, nice trolling.

[@Shrike-Valeo]

@@ZontarDow Except that's a lie peddled by racists. immigrants, or rather what people are using the word to describe - refugees - are a net positive on an economy even with the often lower paid jobs they do. because they want to work. its the opposite of a serious problem because of lower birth rates and higher numbers of older people needing care - more people are needed. But because racists complain 24/7 about "immigrants are problem hurr durr" other people respond to it and essentially cause a streisand effect making it more of a topic so people think its true. when its not.

[@DwightStJohn-w1l]

Ed the Sock, Canada: 15 years ago or more: "Everyone keeps talking about the brain drain, but HOW do we get rid of THE IDIOTS???"

[@JasbirSingh-zj1fg]

Start telling them that they're smart and boost their confidence. Then they too will want to follow the smart ones out of the country.

[@JakeWitmer]

Did you give up your guns? Oops!

[@Jose04537]

The answer is not political correct.

[@WWZenaDo]

To drastically reduce the idiots, offer free and readily available birth control, especially to the white teens. Which is why the Republican Party is planning on outlawing contraceptives as well as abortions. They know that their party attracts the gullible, those prone to believe lies and accept authoritarian control based on faith instead of data. The Republican Party plans on out-breeding the Americans determined to maintain a democracy. Ironically banning abortions will CAUSE the Republican Party's nightmare "Great Replacement" conspiracy to happen, since black women have abortions at 5 times the rate of white women, and Hispanic women at least twice the rate of white women. Minority women also use contraceptives at higher rates than white women. Since American white Republicans are far more destructive to the environment, reducing their opportunities to breed will help the environment, too.

[@Billy97ify]

Fentanyl and meth.

[@pjdinnh5336]

Thanks!

[@zmdeadelius]

Hi Patrick, I'm not an avid viewer of your channel (although subscribed for a few years), but I wanted to share how pleased I am with the subtle balance between seriousness and humour your videos have reached. I recall there was a period when the video editing was a bit meme-heavy, so it's great you kept improving. And, as usual, greatly insightful talk on your behalf. Thank you very much.

[@zzbeasley]

I love Patrick's intelligence, humor and insight and overflow of valuable information. P should lift his eyes to the larger paradoxes of this report on the flight of tender footed millionaires. Their wealth would give them access to the poetical levers in their own countries, assuming that's not the source of their wealth. IN that case what benefits in this regard do they bring to their adopted countries?

[@aymanbreika]

I'm not sure his eyebrows can rise any higher.

[@zzbeasley]

@@aymanbreika As long as they rise above his glasses he's in fashion at least.

[@alcohol-freebeer3642]

Part of the problem is that younger people can't afford to have kids and many spent a disproportionate amount of time they should be setting down in their 20s going into debt for pretty worthless pieces of paper. Then there's a mad rush to move up the career ladder, pay for a wedding, buy a house and start a family all at once. No wonder so many don't make it into early middle age with all the traditional markers of adulthood, and we have huge issues with slumping birthrates, loneliness etc etc. Immigration can paper over this for a bit, but by the second generation migrants' kids display the same patterns because they face the same issues.

[@ObstaclestoOpportunities]

Non of things are issues anyone else can do about it. The people themselves must help change their own life. There is not one stopping you from settling down and building out a good future. The worthless degree, no one forced you to take the course and be a loser. If you go to China the younger generation are choosing good degrees and starting to build out their life. The complaining is at a all time high for a period in human history which happens to be the most wealth available and safest time ever to live

[@dfgdfg_]

​@@ObstaclestoOpportunities🤦

[@killergrooves2438]

⁠​⁠​⁠@@ObstaclestoOpportunitiesIf you actually knew average people who lived and worked in China, you would know that the competition among new college graduates there is fierce, jobs are scarce, the economy is hanging on by a thread, future prospects are grim, parents are freaking out about their school-aged children’s futures. You clearly haven’t heard about the “lying flat” phenomenon where a huge number young people are giving up completely on the idea of getting married, finding a good job, and starting their life and decide instead to live with their parents and just do the minimum to survive. You clearly know nothing about China.

[@killergrooves2438]

The interesting thing is that it’s true in both eastern and western countries. Korea, Japan, and China are going through the same thing that the UK, US, and Canada are experiencing. You have both male and female young people waiting longer and longer to get married and have kids because they work long hours and make too little money to afford a house and kids and live comfortably. So the native populations are starting to drop and all these countries are facing an aging crisis.

[@duckpotat9818]

@@ObstaclestoOpportunities yeah if you complained back then they would call you heretical, you sound like the type who would never see problems with that

[@ulugbey9602]

Thanks

[@Hk7762Tube]

They all probably use Temu, that's the big secret!

[@CariMachet]

Hahahahahaha

[@miguelpereira9859]

No they dont otherwise they would be billionaires

[@dominik13579]

Uh Uh

[@Montahue]

You are the most underrated entertainer on youtube. Love you.

[@edcko10]

Mr. Patrick you have grown on me and I find your humour hilarious. You deserve so many more subscribers!

[@nomadcapitalist]

Thank you for covering this, Patrick. We've seen more westerners wanting to move in the last year than we ever could have dreamed of a decade ago.

[@Elaiyel]

Thank you, Mr. Boyle, for a wonderfully detailed report. Subscribed!

[@MarcinMoka1]

Had to find a new apartment in Toronto during covid. Because I am not the son of a well connected Chinese billionaire, it was so traumatic an experience, I left to the French Riviera, and never ever came back. Rents are 1/3 the price, it’s 305 days of sun per year, and I somehow look 10 years younger. Once Canada actually becomes more affordable for Canadians, not foreign investors, I may consider coming back…

[@RavingKats]

It's worse here since then, all along the 401 in Ontario. 2023 pop growth was over 3 percent compared to 0.9-1.1 usual growth year over year, and most are international Indians many students and temp workers. Half of all immigrants to Canada in 2023 ended up in Ontario. The inflation is beyond insane, from rent to food to everything, and there's zero ability to negotiate for wages to match inflation because these people have swamped the job market and will literally do anything for cheaper. It's impossible to get a doctor, and these students have made videos about getting free food and how it's great because they're hitting up food banks thinking it's a free handout just because instead of leaving for those who are in most need like seniors etc. There's a lot of resentment, never seen it this bad here.

[@josecipriano3048]

It's not about nationality, it's about the dough. If you have you're welcome, if you're don't you're not, regardless of what your passport says.

[@Bolton19]

I've seen quite a lot of content on youtube on how grim the UK has become over the last decades, a big slow decline. The weather is depressing, the crime is getting out of hand, the economy is in shambles, the population is split into enclaves. The reasons to enjoy living your life in the UK seems to be vanishing very quickly from an outsiders perspective

[@ellieban]

I haven’t noticed the crime getting particularly any worse, and I’m pretty sure we’re all living in houses like before. The economy *is* a shambles though 🤣

[@White90ice]

@@ellieban 6 afghans commited murder or close to murder in 3 weeks in germany. You can look them up, one of the guys even killed his own daughter for some bullshit reason. 4 Deahts and 11 heavy wounded people, all by knife stabbing. Just because you dont see these cases, doesnt mean crime is not increasing lol

[@MultiKommandant]

The weather was always grim, crime was never far away if you weren't too busy navel-gazing to notice it, the economy was always stratified and the less said about people getting divided by invisible or self-imposed boundaries the better. It was always this bad, we were just better at hiding it back then.

[@backgammonbacon]

@@White90ice You never had murders before this? No one is saying there is no crime just that its not significantly worse now than before. Crime in UK is at an all time low really.

[@maxmeier532]

a big slow decline because the weather is bad? Was the UK the mediterranean before the Ice Age?

[@alschwartz8732]

this reminds me of my mentor's advice- don't go where you're not wanted

[@crush3095]

the slow pace of your speaking has a MASSIVE effect on helping me understand these concepts are weighty and have downstream implications when you speak slowly like this, I can understand a broader message, I appreciate that!

[@JM-gu3tx]

This is absolutely stunning in depth of analysis and insight! Thank you kindly, Mr. Boyle!

[@SuperBartles]

I mean this in the kindest way possible, but this (very common) argument says "ignore what poorer people think". When you talk about "angry populism" you're actually referring to the (much larger) group of people who are much more affected by these demographic changes than the comfortable rich. There's a tendency to think "if Nigel Farage wasn't saying XYZ then there wouldn't be a problem" - which is naive. The popularity of these politicians only happens because people are aware that the main 2 parties are hoping to quietly go on with unpopular policies, ignoring what actual people think. This leads to voter apathy (look at the numbers in the last UK election - Starmer got significantly fewer votes than Corbyn & much less than any Tory PM in the last 50 years, if my memory serves. With voter apathy you can get extreme parties - or parties that get _called_ extreme, rightly or wrongly. In a democracy, the parties have to listen to the people - so the word "populism" tends to be used rather dishonestly in the press & by career politicians

[@SerendipityChild]

North Korea has no immigration. Russia has severely limited it for decades. Isolationism .. does it actually work well somewhere?

[@josecipriano3048]

It's not the UK. It's the entirety of Europe and much of the world at large, specially in the US.

[@WilliamCharlesShaver]

With respect to the UK, is it possible that millionaires that emigrate once are more likely to do so a second or third time? If so, it could explain why the rate of leaving the UK might be high; the people that came 10 or 20 or 30 years ago are relocating to the next country.

[@DwightStJohn-w1l]

In Canada the East Indian families I know from Commonwealth countries keeps their "Kash and Gold" in the UK, and always have. (insert Commonwealth country here).

[@jaihawkins]

I'm absolutely sure it has nothing to do with Brexit 😂

[@wolfen210959]

@@jaihawkins Definitely nothing to do with Brexit, I personally love watching the unicorns prancing around on the sunlit uplands, best decision by the voting public ever!!

[@cajunguy6502]

Millionaire use to mean insanely wealthy. Now you have to have at least a mill just to retire. It's scary to say, but millionaire is just uppermiddle class at this point.

[@epbrown01]

I’d argue it’s still wealthy, and that positioning it as “middle class” is just marketing spin. A person with a million dollars is not in the middle of the economic spectrum, they’re in the top 10% in the US, and higher than that for the rest of the planet.

[@RogerKeulen]

That's on paper. Do you like eating paper ? And if so, congratulations. You are a millionair !

[@cajunguy6502]

@@epbrown01 it's middle class in comparison to who was middle class in the past.

[@cajunguy6502]

@@RogerKeulen There is no where else where the designation matters. In terms of social status and lifestyle, you're rich or you're not. Terms like Millionaire are for people who like to keep score, it doesn't have any functional meaning outside of that. Someone who had a networth under a bill and over a mill, which can be *a lot* of people with how real estate and auto prices are.

[@dawnfire82]

@@epbrown01 That REALLY depends on where you live. $1 mill in Mississippi is not the same as $1 mill in California.

[@hiddenname9809]

The meaning of we deserve the government we have is because 1.) we vote for them and 2.) we allow them to do what they want. There is no one to blame but us. We are not even allowed to revolt anymore. For centuries, we can just revolt if we didn't like who were ruling us. Now, we are no longer allowed.

[@le13579]

Yep. And the quality of politicians is a reflection of the electorate that voted for them.

[@saschamayer4050]

If you think voting determines the fate of a country, you might want to look into -corruption- lobbying.

[@DonkeyYote]

Years ago people weren't allowed to revolt either. A whole lot of heads stuck on poles would tell you the same thing.

[@josecipriano3048]

​@@saschamayer4050within a limit. The powerful are so sure that we are stupid, that they still give us a chance of throwing their system away, knowing that the metric tons of bs dropped onto the voters will never fail their interests. It has worked well for over 2 centuries now.

[@TheRealSnakePlisken]

We vote but we do not choose.

[@user-df8fo7od3y]

South Korea, when you consider its population size and its top notch infrastructures and fairly high standard of living, is becoming shockingly unpopular. As a resident I can assure you it is 95% due to politics. I guess that is the same for UK, top of the list by far if you consider only "normal" countries from western standard.

[@RavarsenBlogspot]

What kind of politics?

[@user-df8fo7od3y]

@@RavarsenBlogspot Short-sighted populist politics, focusing on maintaining power instead of making the right decisions for the future of the country. To be more specific, the leftist government 2017-2022 actively promoted class wars, inticing rage against "the rich"(very vague, broad, unintelligent term yes, and used on purpose by the propagandists), divided and encouraged conflict between sexes, professions on every subject it can gain popularity from, did not perform any reform or whatsoever on pressing matters such as the drying out pension because unpopular decision is necessary etc etc. When you get 5 years of that on top of already declining, aging society, you get South Korea. Lowest birth rate, highest suicide rate, lowest social cohesion, and finally, number 4 on this list.

[@user-df8fo7od3y]

@@RavarsenBlogspot I made a long reply but by editing I removed it accidentally... In short, populist politics that are shortsighted accelerated the aging of the population, lowered birth rate, encouraged social conflicts in south korea. To be more specific, the precedent government 2017-2022 started the trend of conflict of everyone against everyone, between sexes, classes, professions. All the while not doing anything necessary that could harm the popularity, such as pension reform , just to name the prime example. Current government is not competent enough to clean up the huge turd the precursor left either. In order to secure 4th place in rich exodus list as a developed country, you really have to try hard. And that's what korea did, we did everything we can to fuck ourselves in past 7 years. UK leads by far but I think we can catch up pretty soon.

[@melissacorbett4180]

​@@user-df8fo7od3yexactly. I'm Australian and teach ESL. A number of my female Korean students have made passing comments about the bitter and mysogynistic views of their male counterparts. I always encourage Korean women to find a Western boyfriend instead if they want a partner. Or to stay in Australia (if they're in the country). Nothing is a bigger turn off in the realm of sex / love / relationships / child-rearing than being with someone who hates you for your gender. No wonder the birth rate is so low in S Korea 🙄

[@cherubin7th]

@@user-df8fo7od3y This is woke politics.

[@marcobach]

I love the graphical illustrations from luxury balaclava, British culture gets some football louds, the 3 rents PMs including the lettuce and many more gems all imbedded in the serious topic and narration. Well done

[@profdc9501]

If one is admitted to a new country because of one's wealth, one should anticipate that if one's financial fortunes change, their new adopted home may become less friendly and accommodating. Financially-grounded allegiance is subject to fickle fortune.

[@agmuntianu]

I think there needs to be made a difference between the various types of millionaires: - old wealth/ trust funds : they don't really pay much taxes and don't really contribuite to the economy beyond their expenses - if they leave nothing really changes besides a reduction in the high-end property market - active investors in the productive sectors: they produce the most benefits to the economy - if they leave the losses are immense, both in terms of lost taxes and lost economic opportunities - parasitic "investors" : they usually made their fortunes in dubious fashion, are only in the country to park/whitewash their fortunes, tend to "invest" in real-estate, thus increasing cost of living for the rest of inhabitants - if they leave, there are only benefits for their former country of residence

[@ArawnOfAnnwn]

It is very hard to differentiate people into any of these categories, nor are people typically completely one or the other. The categorization makes for a self-satisfactory theoretical concept, but ultimately not really practical to actually use.

[@thomascrabtree]

A trust fund IS an active investor - Yes those people may be parasites on wealth they didn't earn, but it's still wealth they're taking out of the economy in the form of their trust fund and moving to a new economy in which it will invest on their behalf... They pay way more taxes than you realise because they are pure luxury goods consumers (VAT), it's these people who fund most of the social state for the working class.

[@agmuntianu]

@@ArawnOfAnnwn c'mon it's not rocket science : - it's someone that inherited the wealth and has no substantial link to the economy - it's second case - is in the process of accumulating wealth though something else than rent-seeking means - it's second case - the money has been made somewhere else and is being brought into the the host country via : expensive art purchases, property purchases, and is coming from a country that oddly enough does not exchange financial info with the host country - it's third case .

[@danguee1]

Your categories aren't very good. Lots of words, decent punctuation - and I like the bullet points. But the rationale you use don't make much sense and overlap to large degrees. And what is the 'active investor'? Is that someone who buys shares on the stock market? Or someone who lends money to enterprises needing capital or liquidity? It's not clear.

[@emperortomoto]

​@@ArawnOfAnnwnwell, still much better than considering all the millioner, benefactor of society and sole driver of economy...

[@posthocprior]

The number of millionaires leaving a country should either be normalized by the population of the country or the total number of millionaires. That is, dividing by a total gives a percentage and this allows one to compare countries to each other.

[@webentwicklungmitrobinspan6935]

it should be the number of millionaires, not the population because of inflation

[@mattd8725]

If they don't pay any taxes and don't actually live there to support local business, then what is lost if they leave?

[@zurielsss]

They still spend money on entertainment food rent meals. If they had kids then a lot spent in private education

[@DaveDDD]

@@zurielsssa middle class family would do the same while using up much less resources, and they would actually be productive to their local economy.

[@ArawnOfAnnwn]

@@zurielsss The revenue from those things is negligible, just somewhat higher than what is gained from the middle class. If you want to get meaningful benefit from the rich, you have to either tax them to get more of their money moving, or use taxes to make them invest said money to likewise get it moving. Their consumption won't amount to much. If you want to reach significant amounts raised via consumption, then a little money spread across lots of people achieves much more than a lot of money in few hands, as in the former case each of those people will spend a larger share of what they have.

[@Pl89uk]

Clearly a labour voter ​@@ArawnOfAnnwn

[@michaeloreilly657]

​@@Pl89ukClearly a believer in trickle-dowm economics.

[@Brayness]

Good choice using that BagelButts NFT scammer to represent Canadian millionaires

[@surajkumar-uo1xp]

+1

[@zimbu_]

BagelButts to the Moon!🚀🚀#wagmi

[@strauss7151]

Rishi Sunak was supposed to halt low skilled and high crime boat migrants from Africa and the middle east. Instead he cut high skilled and low crime international students.

[@samsonsoturian6013]

Who's that? Another diversity hire?

[@whtwht]

Suck it up mate. He was doing his best 🫠

[@Justanother1ne]

crazy to see the UK fall so fast, from belgium

[@jaihawkins]

​@@Justanother1ne Haven't been paying attention? 😂

[@wolfen210959]

International students take up 75% of the UK University places, so I have no clue how you think that international students have been cut. As for criminals arriving on small boats? Those were from Albania, which is in Europe. Some people believe the dumbest things, just because they are gullible enough to believe liars.

[@Idontwantahandle3]

Immigration is good for the overall economy, but who is benefiting? For most of us it is Higher rents, a more competitive job market, stagnant wages, and price inflation as the resources are shared (supply demand). This obsession with constant growth needs to end, most of us are not benefiting from it.

[@dogrudiyosun]

Capitalists benefit ofcourse who else

[@roscoejones374]

Uneducated migration is good for no one. If you have to rush the boarder and break into a country it's not good for anyone.

[@MestizoMoney]

Everyone benefits

[@saschamayer4050]

​Rich people and their children benefit. It's easier to control the masses, when there is less education and more job seekers.

[@arynasabalenka3173]

And the diversity created by immigration causes many complications for society. Tension, unrest, loss of cohesion and community, much greater division, theft, cultural Marxism (race swapping characters in folklore), miscegenation leads to the loss of native European appearance, etc.

[@spatchist]

About that immigration balance, UK residents not having enough children > diminishing tax base > allow immigrants in to pay taxes > pays for an aging population. However, this causes 'other problems' which now seems to include the wealthy leaving for elsewhere, reducing the tax base further. Hopefully the incoming govt. doesn't try to revive taxation levels from the '70s - I believe the Italians were the first to discover you couldn't recover more than about 66% tax from anyone, as after that point it becomes increasingly worth your while to evade paying tax . Excellent coverage of the topic, despite a lack of any rap news this week.

[@wolfen210959]

The main problem with the UK, is that only the wealthy have access to accountants to reduce their taxation levels, the vast majority of the population have their taxes deducted by their employer, which go straight to the taxman.

[@Croz89]

Immigration is one of those things where the net effect can be positive, but the effect on certain individuals and communities can be negative. Telling the unemployed unskilled or semi-skilled native pushed out by cheap immigrant labour, or the long time citizen of an overcrowded city where public services are being strained and housing space is getting smaller and smaller, that their suffering will allow the economy to grow by an extra 2%, is obviously going to met with anger rather than acceptance. In the end, in a democracy, if you want people to accept the best policies for economic growth, everyone has to see the benefits.

[@abbacus8614]

They're going to learn this the hard way eventually. The disenfranchised aren't stupid and finally cluing in.

[@alexg3348]

Liz Truss replaced by the pic of a lettuce.. 😂😂🤣🤣

[@danguee1]

UK millionaire here. Got here by hard work, scrimping and saving - the mule-route rather than the racehorse-route. Leaving because of: climate (I want to die somewhere warm), fear of growing cultural wars (yep - the Maoists are taking over!) and just wanting to travel, experience cuisines etc. It's not a mystery to me. And, yes, Brexit and the ongoing political sh*t-show is a constant irritation! The fact that the UK can't get anything done - HS2 is a perfect example - without *_phenomenal cost and dithering_* ,also makes me want to go somewhere where people just get on with getting things done...

[@daveseemerollin6357]

Well done mate

[@hunty1970]

Well done and I don’t blame you at all. This country (uk) has a lot of growing up to do before it ever becomes investable again , if ever!

[@josecipriano3048]

Sorry sir, if you think the Maoists are taking over, you'll likely feel that wherever you go. Paranoia is in one's head, not outside.

[@florianschura4150]

Love the lecture hall setting.

[@pickelbarrelofficial1256]

Did anyone else spot the bit about UK inflation being driven by "over-reliance on Russian gas"? Am I mis-remembering that the UK had almost no reliance on Russian gas prior to the war in Ukraine?

[@TheMrZ]

No, you're not, the article he's referencing is very poorly researched. (Well, it's not really an article, it's a press release from what is effectively a lobby group for ultra-high net worth individuals.)

[@danguee1]

My understanding is that the UK gets its gas from Norway on a long-term contract. And gets very little from Russia.

[@mikegardner5859]

You're right. Very disappointing that Patrick didn't spot this.

[@davidjma7226]

It doesn't rely on Russia for gas. The impact was felt because of the resultant higher gas prices, not supply.

[@wolfen210959]

@@davidjma7226 It was compounded by the almost complete lack of gas storage, many sites have been demolished and sold off in a rush to "just-in-time" supplies, where storage of gas is miniscule, to cut costs, but you become very vulnerable to price fluctuations, as you must buy gas on a daily basis, instead of being able to stockpile gas when the prices are low.

[@grumbla1]

I could not afford to live as a millionaire in London.

[@bjorntorlarsson]

Are sleeping bags THAT expensive there!? How many are homeless sleeping on London's streets, 100,000? 200,000? How many will it be in 10 years? One million? Two million? The only sure shut thing is that no politician will eeven try to stop the fast acceleration of all kinds of problems at the same time. Because no voters care for voting for it. Because no one cares for starting up a new political movement that even suggests any cure. No one in the western world cares about his/her own society. So the problem is that we have democracy. With Absolute Monarchy it wouldn't a problem that no commoners care. Because the King would care for his society, his private property, and make it prosperous just like every farmer family have done with their property across many generations throughout many centuries.

[@grumbla1]

@@bjorntorlarsson Well technically that is not considered living in a place.

[@samsonsoturian6013]

Hardeehar

[@IAmebAdger]

Plenty of people who aren't millionaires living in London

[@Pl89uk]

​@@IAmebAdger living like rubbish

[@eddenoy321]

@9:04 LOL The high net worth Russians all in gopnik designer track suits. 🤣

[@elliotoliver8679]

Moving TO the USA is hard to process, I see buyer’s remorse in their future.

[@prathikshirur4803]

16:54 The picture reference for British culture made laugh out loud 🤣

[@pch5938]

Welcome to Florida, chaos awaits you. Pretty good place to move to if one of your retirement goals was to sit in traffic jams. Looking forward to having you ❤

[@xtc2v]

There is no point adding workers to Britain plc. This country is not making a fiscal surplus with the people it has got. That needs fixing first before you bring in anyone other than a genius or a billionaire

[@AlsadsajsAlsadsajs-vl7th]

The British need to either rejoin the EU or actually fix their own regulatory system. Immigrates are just the scape goat their

[@Monsterpala]

Luxury Balaclava! Patrick went above and beyond educating me.

[@brendan1516]

“My website used to look like this, but now it looks like this” Looks the same… lol

[@bullymaguire8380]

Lol

[@themacker894]

If the millionaires are taking the Concord, then they are in trouble. Think the last one is in a museum and probably isn't moving too quickly.

[@Agnemons]

Well they seem to be keen on taking everything else so why would they not try and steal a Concorde from a museum?

[@SloverOfTeuth]

​@@Agnemons ChatGPT says it would cost close to GBP 100k to fully fuel Concorde at current UK refined petroleum product prices. That seems a good starting reason ...

[@churblefurbles]

@@SloverOfTeuth Only takes 10 out of 100 passengers to pay that fuel bill.

[@jackochainsaw]

The paraffin pencil will never fly again.

[@1108-g1q]

Boom Supersonics will probably be offering us a Concorde experience soon.

[@gargle99]

Am I the only Canadian who who owns nothing in plaid?

[@phillipwalter8993]

Yes

[@emeraed]

As long as you still have your denim jacket you should be fine.

[@nandi123]

Own or wear?🤨

[@TheDude79700]

Haha

[@galerussell1710]

Not even pajamas? You may have to turn in your passport.

[@mimo5383]

Millionaires coming to AU are just considered as middle class. Every property owner in AU is more or less a millionaire.

[@danguee1]

Where is 'AU'?

[@emmar3006]

​@@danguee1 Au is Australia

[@kimeli]

really? so if im worth 350 million USD and move to aussie im just a middle class?

[@johnaustin6853]

@@kimeli Yes, especially if you know nothing about grammar or punctuation.

[@luka3174]

@@kimeli 1-2 million is the cost of a house in a city. So lot of variance when referring to millionaires. Im middle class but have a middle dollar property.

[@ChuckHiggins-bq8vr]

wide ranging combo of brevity and density with questions more important than answers..as unsual great work!

[@mattanderson6672]

Patricks humour is unmatched ! Legend

[@NGE0001]

I work in wealth management and most what I see are rich kids with their parents money and no skills. Also it’s hard to live in London if you are not a paper millionaire. Show me a london house that is not more than a million 😂

[@usainengland]

If the house floats, you might get it for less.

[@usainengland]

PS My condolences on your job. 😂 Good luck!

[@pif5023]

The influx of millionaires in the UAE scares me a bit. Not really the society I would like to see flourish.

[@nicktw8688]

It’s all fake. Plus, cost of living is rising sky high in UAE….ten years ago it used to be cheap. They even have taxes now in UAE. Plus, with climate change, they will see 50C….how is that livable? There are plenty of other, nicer places in the world to live.

[@bullymaguire8380]

It's flourishing for a long time now. Next year it's projected to grow over 6% gdp

[@constantineblinkov2972]

I think this is the first time I watched the ad on a blog and was actually slightly interested in it.

[@antoinepageau8336]

Millionnaire!?! If you’re over 50 years old and aren’t already a millionaire, your retirement is gonna suck.

[@kryp879]

You probably don't read these comments, but it's so refreshing seeing someone present economic facts and data so apolitically... I've long hated how economics gets so politicised because at the end of the day there is no ideology in economics, there's simply good economic policies and bad economic policies - economics does not care about your political beliefs. So while we might feel it's "fair" to "tax the rich" if this results in an mass exodus of those who contribute the most in taxes then it actually has the opposite effect of what we originally desired, and only puts more pressure on the poorest in society. We don't all have to agree exactly, but I believe we could vastly improve our economic prosperity if people weren't so political about economics. These videos are exactly what we need. The fact I genuinely have no idea where you stand political despite you touching on so many politicised areas like immigration, taxation and government spending proves how great a job you are doing at this. Please keep making these brilliant videos!

[@domcius]

“there is no ideology in economics” is just plain wrong

[@wcjerky]

The highest point of American economic expansion had a marginal tax rate of 79% - 92% is also a fact.

[@jessezigi2419]

Apolitical economy is an oxymoron though The two work in tandem so you definitely can’t have one without a significant measure of the other But that isn’t to say that we grossly simplify the two for political purposes these days

[@dawnfire82]

@@wcjerky 1) Oh, you mean the postwar period when every other major economy in the world had been destroyed? 2) You skip the part where the cutoff for that top marginal rate of 91% was for individuals with taxable income above $200,000 (approximately $1.9 million in today’s dollars). That's an *extreme* minority (far, far, far less than 1%) that just encourages people to change citizenship and residency or accept compensation in other, less-taxes or untaxed forms and thereby reducing overall tax income.

[@kryp879]

​@@domcius I'm not saying there's no ideology in economic decision making, I'm saying it doesn't help to present economics in an ideologically biased way. Economics is about understanding the risks and rewards of economic decisions - and those are apolitical. The exact mix of risks and rewards an economy decides on is obviously a political question, but that doesn't mean the economic realities of those decisions need to be presented in a politically biased way. I'd argue that what we really need is to understand the risk/reward of decisions so we can make better decisions whether our political ideology is. So that means some might choose higher taxes and slower growth if it means better public services today, while others might want lower taxes and higher growth. All that's really important is that people understand the trade offs of those decisions. Often in the media today we just hear one side of the story. Eg, the right will argue tax cuts are always good and the left will argue taxing the rich more is always good. It's great to see someone just presenting the facts and not adding their own political spin.

[@GorgeDawes]

I can think of few things worse than having to live in the UAE.

[@LadyMontane]

That's unless you're megarich. UAE government goes out of their way to lick millionaires' butts sparkly clean. The rest of the population, yeah, I cannot hate the state of global economy, that makes people accept these conditions, enough.

[@thenorthstar311]

Interesting content as always . Thanks Patrick

[@reggielou2653]

Wealthy does not keep their wealth for three generations. The wealth of a nation should be based on educating the young to prepare for the unknown future and not escaping responsibilities.

[@boalcura]

Getting your Rolex grabbed on the streets of London has something to do with it!

[@fredfred2363]

Rolex are for plebs, just like mercs are for drüg dealers. Seiko and Audi is where it's at. Class while being understated.

[@josecipriano3048]

Like if that was something endemic to London or that people don't complain about in every major city.

[@One-Two_swift-kickbox]

Remember kids, save your money because for only $1.4M AUD, you get can get a lovely dilapidated house in Mount Druitt right now.

[@John-ou4rm]

Australia is truly ridiculous. Even a professional person is paying 10x their salary for a dog house.

[@parkerbohnn]

That's what a fixer upper costs where I live but the average lot they sit on is worth about a million dollars.

[@jhwheuer]

The UAE kind of tolerates slavery, right? So no change for the arriving folks.

[@gregzambo6693]

Love the shot at 14:36. A drop in sales of balaclavas can't be good ! :D

[@_Hewman_]

11:42 I burst out laughing. I dont know how you maintained a straight face while saying that.

[@HellNation]

Patrick has the best deadpan game since Norm Macdonald

[@hungo7720]

Capital flight has been commonplace these days in search of acquiring residency or citizenship in a handful of tax-friendly countries.

[@jbweld6193]

Immigration isnt a problem. Illegal immigration is a massive problem. Not only is it unfair to citizens and legal immigrants, its a major security risk.

[@sirrathersplendid4825]

It’s MASS immigration that’s the problem. Completely swamping local services, real-estate base, and the local culture. The part of West London I grew up in has within five years began to resemble Baghdad, with more women wearing veils than not.

[@michaelcaton7587]

Mexicans have the same right to live in the Southwestern USA as Jews do to live in Israel. White Americans are the illegal immigrants on Native land.

[@tiffany.Elizabeth.]

@@sirrathersplendid4825it’s all so sad

[@olafandrea933]

Excellent showcase. Thank you.

[@Robc2007]

😂the cabbage picture at 14 mins made my day😅

[@Nightzo]

It's a lettuce!

[@bpurkapi]

When a millionaire moves, they are an expat not a migrant.

[@doujinflip]

Depends on point of view: expat to the donor country, immigrant to the receiver. Either way still a migrant.

[@stereo-soulsoundsystem5070]

You meant, asshole or 'leech on society'

[@fyang1429]

Warm clothes for Canada? A large number of those Chinese probably just went to Vancouver, where warm clothes is not nearly that essential.

[@galerussell1710]

There are a lot of Chinese people in my part of Ontario and it does get cold.

[@DwightStJohn-w1l]

@@galerussell1710 'my part".....welcome.....to Kenora. Emo? Port Arthur/Fort William??

[@peter.g6]

UK being #2 in millionaire outflow is quite shocking.

[@fredfred2363]

Not surprising given the state of things nationally.

[@EepyBnnuy]

Thank the Torries and brexit

[@ArandomNutter]

Found this video really insightful, thank you

[@khalidalali186]

My friend & I did the opposite. We actually moved from the GCC to the EU. We want from paying no income tax, to paying a 52% income tax rate. Not to mention a 9% corporate income tax rate to almost 37.5%. Among other taxes as well. We figured we’d be more than happy to pay that much, because we’re living in a very clean, stable, and safe city, where the social contract is also very strong. I have yet to see a single local homeless person by way of example. And guess what?! We’re still making money 🤷‍♂️ and I don’t think you need to spend more than €2,600-3,000 to have a very comfortable life in Western Europe. Not to mention that traveling is way cheaper than traveling within Arabia or West Asia for that matter. My friend & I had a combined net worth of €5,000,000 when we decided to make the move in late 2022, and it’s been going great. We even started learning Dutch & German, as we’re already fluent in English, French, and Spanish.

[@christopherdamiano4233]

lol the picture at 9:06 cracked me up

[@LeRoiJojo]

That Plain Bagel photo. "Chef's kiss"

[@catsupchutney]

Dubai, and UAE also known as crook paradise.

[@jaysterling26]

Sunny places for shady people.

[@dmitripogosian5084]

Which London was used to be known as.

[@bullymaguire8380]

Now the British are getting taste of their own medicine

[@davegubbins4428]

So, the UK saw ~16,000 millionaires emigrate in the 7 years to 2023, with 2024 alone adding another 9600 to the tally ; a comparative stampede. Re: their primary motivation, it would be interesting to know both what percentage of those folks once migrated into the UK and are now returning to their homeland and the percentage emigrating to retire (to warmer climes, for example), as opposed to their motivation being dissatisfaction with the UK as an operation.

[@war8]

It's amazing how all these studies calling for more migration has no concern for anyone except the business owners to grow 2-3 % a year lol .

[@God__Emperor_]

You left out one of the biggest negatives of illegal immigration. Wages in entire sectors stay stagnant or even go down. Big one that comes to mind is the construction sector. When I was still an electrician the pay scale dropped 1/3.

[@most-average-athelete]

That graph of millionaires leaving is rather misleading and does not represent how bad the UK situation is, especially with an incoming Labour super majority. 15200 from China, 4300 from India is nothing compared 9500 from UK. If you convert the numbers to per capita, the UK numbers are comically large and you can't see anything else on chart. the numbers normalised to "millionaires per 1 million people": UK: 141.8 China: 10.8 India: 8.5

[@michaelmichael8494]

There is no such thing as a "safe country". The recent "pandemic" has demonstrated that quite clearly. I've seen a few millionaire business owners from developed countries who out of nowhere have been completely ruined, their businesses utterly devastated, their retirement prospects and inheritance stripped away in a matter of months, by Western states everyone used to consider (and many consider still) democratic, safe and business-friendly. The only reasonable way to go is the same, as with many other things: diversification. You get a portfolio of passports and real estate throughout the world. When another nut job comes into power in a country or part of the world you live, you just quickly hop on a plane and fly to a different one. Sources of income require decent diversification, which includes a geographical one, as well, of course. Most people just plain ignore geographical diversification. Not because it's too expensive (it's not), but rather because it requires additional work. Every now and then some of them end up paying for it, and when an entire country goes down, it spells very bad prospects for those of its citizens who were complacent/foolish and didn't do their homework.

[@akinyiomer4589]

How and why do you think it's so easy to acquire residency or even citizenship in multiple countries unless you're very rich? That economically nomadic lifestyle you're promoting is the preserve of the ultra-wealthy, and I have to be honest you have to have a certain kinda callous mindset that affiliation to a country is nothing but a "what's in it for me?" transactional relationship. It's so shallow and mercenary. It doesn't even compare to the other type of economic migrant who will spend years to trying to get into a single country, usually work minimum wage during the best or most of their years while giving their productivity and loyalty (this is OFTEN overlooked by anti-immigrant types) to their host nation. There's no thought to that single-minded wealth and administrative-stability extraction on this ultra-libertarian semi-nomad lifestyle. You're not invested in your neighbours, the links you set up there via business or civil engagement. No thought to if you come in with a more powerful currency, you're gentrifying/making unaffordable goods & resources for the locals. Like moving to gorgeous Bali mansions and wondering why only Westerners are in the big houses but the Balian locals all live densely-packed in the city-centre or villages. Just ... "as soon as a politician you don't like comes in". What you couldn't get involved in the political and civil process to have your rightful say as a citizen? Couldn't organise, couldn't fundraise? Couldn't do that hardwork of being a citizen invested in their nation? Nope - just hop on a plane. So, so slimy.

[@maybemablemaples2144]

So you mean be a neolib till the money faucet run dry? This right here is why rich people don't deserve rights.

[@Fanta....]

@@akinyiomer4589 You still think we can change governments? how adorable.

[@ryanshaw4250]

Unfortunately not just in the west but also in the East including Russia and china, the governments have decimated the honest economy.. My survival strategy is to keep my head down and I move to Japan where things are way more affordable and you mentioned the word safe.. I felt that things were getting out of control even after leaving New York in my twenties, Colorado where I was living became a lot more dangerous than I was comfortable with.

[@akinyiomer4589]

@@Fanta.... Y'know that type of defeatism had me in a chokehold in my teens and twenties, so I get it. And I also get how exhausting & frustrating modern life is. But how do you think we *got* the set-ups we have today? What you think the party that's been in power just magically got there? What made it an Opposition party before? If you live in a republic how did it get to be one? How did certain rules & laws get made and overthrown in your country? The second you pretend you have zero agency is the second it becomes true.

[@RichardEnglander]

7:10 Florida - it isn't just retirement, the taxes and rules are conducive to good a good business climate.

[@MrWittel]

11:36 The @ThePlainBagel shout out is amazing!

[@PizzaMike2012]

I’m a financial advisor in the UK. Lots of my clients are considering moving to Dubai/USA for higher wages, lower taxes and lower cost of living. If my clients leave, my income and quality of life decreases. I might have to follow.

[@AlsadsajsAlsadsajs-vl7th]

Yeah the UK is destroying itself