The secret economics destroying Britain | Gary Stevenson interview

Gary Stevenson @garyseconomics was Citibank's most profitable trader in 2011 by predicting there would be an increase in economic inequality. Now, he spends his time exposing the inequality embedded into the global economic system.
He came by JOETowers to discuss his book, The Trading Game: A Confession, the failure of the British state to truly address inequality, and how to avoid the UK becoming a failed state.
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[@quercus3290]

Sheffield University economic department published a white paper some years ago trying to determine what is actualy happening with money in the UK, it estimated from 2008 to 2018 at least 5 trillion pounds has simply vanished out of the UK economy. TLDR; the wealth that is generated basically goes to London then it vanishes through complex networks of shadow banks and offshore corporations. It would appear we are being strip mined of wealth and have been for decades, money that should by all means remain in the UK to encourage development, prosperity etc is simply being removed. Basicaly why we are now in this situation.

[@marianhunt8899]

Being hollowed out. That is indeed what's happening. People sadly don't understand it though. It's a parasitic economic system, eating us alive from the inside out.

[@Paddythefriendlykiwi]

Exactly. Can't close tax loopholes or simply get rid of non-dom status though.

[@swojnowski453]

tax heavens babe, why do you think the rich got frontmen like Johnson and Farage to get Brexit through. They want tax havens open for business. It will be impossible under the EU rule soon.

[@jefflucas7251]

Spot on .. most people have no idea!

[@Joely7]

It's all through futures trading - none of the money gets invested in shares or real value, instead the real money being traded is earning profits by speculating (i.e manipulating/rigging) the flucuations in theactual stock market. there is no incentive for the price of shares to contin ually increase, as this does not allow for futures trading. Therefore, instead of purchasing shares that add to a companies value, the vast sums of money are spent on virtual 'tokens' that add zero value, and in effect siphon the value from the company itself into international private an institutional hands. The whole point is denying the average person any scraps off the table, as the cost of shares stagnate, while the rich make mad money in the process...

[@flavcruz]

As a Brazilian I can confirm... You do not want our kind of inequality. More people should listen to Gary.

[@understanding.everything]

They can't that's the fun part 😂😂

[@bigthangz5489]

Grew up in South Africa, it always makes top 5 most unequl countries in the world. I concur. Once u have this kind of inequality....it brings many horrendous problems.

[@MrMadalien]

@@bigthangz5489 Once you have this kind of inequality, you leave the country, simple as that.

[@anatolydyatlov5196]

​@@MrMadalien how do you suggest doing that when you have no money?

[@MrMadalien]

@@anatolydyatlov5196 Uh, you just walk/ swim to another country. Especially as a british person, you will have an easy time getting a residence permit wherever you go.

[@mynameisnotjerome1803]

I'm a Brit living in Eastern Europe, it is no problem at all for the average earner here to afford food and heating. The Tories have inflicted such harm on the British people that former communist Eastern Europe is a more comfortable and easier place to live. Let that sink in.

[@Sam-dc8du]

If current trajectories continue, Poland’s economy is set to overtake the UK’s by 2030.

[@Saffy-yr8vo]

Agree. Because they’re extreme fascists who just don’t care about their own population. Which is in fact a legal criminal offence. The poverty in England shocked me when I saw it. Yet ppl believed Johnson et al.

[@Ptaku93]

@@Sam-dc8du as a Pole, I'm sorry for you, but can't help but cheer for this development

[@AB-zl4nh]

We need a Fair (PR) Voting system, Right To Vote at 16, Automatic Voter Registration & Compulsory Voting. You need a fair political system that affords you the maximum chance to give Left & Centre-Left political power. Words & protest is not enough.

[@idokwatcher2062]

Not for long. Real estate prices are tripling everywhere. Try buying 250 thousand euro apartment on 900 euro salary.

[@davidcoveney]

I come from a very poor background, and I've established myself pretty well. Not quite as high flying as Gary here, but I did quite well eventually, and now run a small business and have a modest level of income and wealth. Very much middle class now. Gary is the closest person to me in philosophy and attitude when it comes to money, probably because of relatively similar backgrounds. He's not against the idea of making money, but he's against the idea of one group grabbing all the wealth, power and income. If we don't resolve this, we're all in trouble - even the rich, because eventually it ends with revolutions and the rich finding themselves with nothing at all.

[@fleetinghopes6448]

💯% Great point!

[@AB-zl4nh]

We need a Fair (PR) Voting system, Right To Vote at 16, Automatic Voter Registration & Compulsory Voting. You need a fair political system that affords you the maximum chance to give Left & Centre-Left political power. Words & protest are not enough.

[@jf2176]

Any change needed would be socialism. Socialism is worse than communism. Do you know how many people communism killed? And this is why things will never change. Because I can convince you to vote against you're interests, and I don't have a financial interest. Imagine if I did!

[@andresgarciacastro1783]

All wealth in the hands of a few people makes working hard, having ideas and innovating not appealing to most people, since you will not get a piece of the pie anyway. The very best/only selling point of capitalism dissapears.

[@riddim.]

It's already too late, need to leave England and protect your wealth

[@JonotJoe66]

Lost my house because of 2008, now live in a mouldy private rented one bedroom basement flat. People should have to listen to Gary, our politicians definitely should. Great guy.

[@sprocket-YT]

did you have a subprime ?

[@youmustmonthebiff]

Gary was probably trading in London in 2008 and contributed to you losing your home.

[@alexanderjones1265]

Nah he was betting on interest rates from around 2010 onwards for Citibank.

[@tinachristine4573]

But you all get easily bamboozled with stupid inconsequential stories in the daily rags to generate faux outrage, and you fall for it EACH AND EVERY SINGLE TIME. it is so disheartening to see the UK turn slowly into a third world state. I was born in such countries and it kills the human spirit

[@bw7043]

He openly says he was trading in the early days but part reason WHY he stopped was because of how he thought how wrong it was! He's focusing on raising awareness in why the system is set up to fail Joe bloggs and benefit the super rich.

[@WilliamAhlert]

Gary Stevenson is easily one of the most important voices in Britain today. Thank you so much for sharing this interview PoliticsJOE

[@youmustmonthebiff]

You mean the guy that made millions through dodgy trades in the city and only after making said millions, decided to expose how corrupt the system is? Noble.

[@bobthegrinch]

@@youmustmonthebiff It's not really relevant whether he's noble or not if what he's saying is correct.

[@WilliamAhlert]

@@youmustmonthebiff That's such a stupid non-argument. He never said he was good. But he is sounding the alarm bells and you don't want to listen. Choice is yours, you want living standards to fall that's fine. Don't expect to be popular and don't expect people not to think you're a fucking idiot for thinking that.

[@antoniosorrentino2931]

@@youmustmonthebiffyou mean he has a proven track record that he was actually right?

[@WilliamAhlert]

@@youmustmonthebiff which "Dodgy trades"?? WHat's so dodgy about them? He traded interest and did so by betting on the economy never recovering. Nothing dodgy about it. HMRC would be on his case a LONG time ago.

[@gozimusable1]

This guys so spot on. Living standards have never been this bad since ive been alive at 47.

[@dddux]

From my point of view, gen-x, 80s and 90s were so nice. Even early aughts. 2008 changed everything.

[@alexanderstefanov6474]

​@@dddux90s were a great time

[@Solar.Geoengineering.Advocate]

@@alexanderstefanov6474 all of those decades were borrowing from the future and ensuring our kids inherited heII

[@astorbeijer9424]

I think Gary should start his own party and run for PM. Within a few years, I bet he'd be PM, and one of the best that England has ever had. We need more people like him in politics and fewer Ritchie Riches.

[@Frank-bn9eg]

Such a clear representation of the basic problem, the rich hoovering up homes and renting them back to you

[@jagman999]

I agree, but It’s not that clear cut. 20% of average boomers also own substantial number of rentals as their retirement plans. How do we undo that without destroying those “pensions”?

[@gordon1201]

​​@@jagman999force them to sell. Those homes are worth a lot now. Having a nice 300k or more in the bank is enough to live off the interest. On top of that they have a government pension. Nobody should own more than one or two homes in this economy so I have no sympathy for anyone who's a career landlord. If things were different then it would be ok. Maybe in the future we can allow people to own more, but right now we've got a crisis on our hands

[@youmustmonthebiff]

@@gordon1201”live off the interest” - have you seen interest rates? Those days are gone.

[@stephenc7428]

Yes, precisely what has happened to Ireland. Hedge funds buying up properties. The plot is even more sinister in UK, '7 flats Hunt', Jeremy Hunt, with his new company tax breaks is to force smaller landlords to buy under the company banner, which makes it easier for large investment firms to buy up stock.

[@speedyspeederson]

@@jagman999 Firstly, wealth taxes. This wouldn't really affect the pensioner who is landlord because they own one other property but it would affect those hoarding large amounts of assets. Secondly, is you build council houses (or take over private lets). That would lower rents and therefore lower yields long-term but it isn't going to mean Jim Smith's 1 property nest egg is going to lose all value overnight either.

[@robpage6768]

Economies are moving into the endgame of Monopoly where most the properties are in the hands of one player and everyone else is rolling around the board until they drop out. The solution to this within the rules of the game is to stop playing but that is not an option in reality; you can't stop being in the economy (while still being alive). I don't think anyone told the super rich that you can't "win" economics, you only push people closer and closer to flipping the board and, while that might make a mess in your living room, it's going to make a much bigger mess in the real world

[@jasonburder3963]

Brilliant analogy

[@robertlawson8572]

That's a bloody good analogy (the board flipping) Just a matter of time... Where I live, an estate of homes that were affordable (priced at 2 x working man's wage when we moved in) the homes are no longer affordable, and worse, higher earners move in, and spend a fortune updating them, rendering them less affordable... So, a house built to sell at £8,000 in 1978, sells at £240,000, is refurbished, and is no longer affordable... There are few areas where homes are affordable, and where jobs are available, accessible by public transport or bicycle. Inflation in the intervening years was 700%, but house price inflated 3,000% Wage inflation maybe 700%/800%? What hope?

[@fontle2653]

The irony in your comment is that the original monopoly was made to show ordinary folk the impact of monopolisation on their lives, in this sense monopoly the game was made as an analogy 🥴

[@robertlawson8572]

While that's true, it's also true that most of the "secret" ways in which the lower classes' aspirations are being (always were) suppressed... Happen in full view... The techniques deployed by the capitalists/industrialists/bourgeoisie are deployed in full view. From annual changes in clothing styles last year's suit cut? so passe... and mobile phones, etc, to selling jugs of "cocktails" made cheaply, sold profitably for the less discerning, to serving beer in unmarked (capacity marking's required by law) glasses that don't hold a full pint, and serving with excess head... Just look back over the years at all the shiny useless shit we've been sold, that was shortly consigned to landfill because it didn't make us happy... We used to buy music as physical media... vinyl, tapes, CDs. Now, as Bruce Willis discovered, when he investigated leaving his "Apple Music" collection for his kids' appreciation when he died, you don't own that, only get to use it while you live, can't pass it on... Despite having paid for it... and you can't pick up an MP3 and think "dad handled this disc, he loved track 5..." and it was cheaper to distribute than physical media, didn't need a physical demo booth like the record shops of my youth... The buyer can use his own resources at home to listen before buying...@@fontle2653

[@robpage6768]

​@@robertlawson8572the spiral will only continue until a government emerges with the will to stop it. Unfortunately I suspect Gary's going to be making healthy returns on his bets for some time yet, at least the next two election cycles (presumably Starmer, followed by Tories again because he will fail to achieve any meaningful progress and be left out to dry in the press) and by then it will be far too late for a centrist solution. Britain has long avoided massively violent upheaval of its political order by facilitating gradual change, but now that living standards are reversing and nobody appears capable to prevent it within the system, I suspect that people will increasingly look outside of the ballot box for answers to their predicament.

[@mxvega1097]

I worked in international banking, macro and the public policy interface during the GFC and after. Gary doesn't quite name it but there are two circulatory systems in play, the financial system centered on central banks, and the real economy based on - essentially - Main St. Each has their own set of economists, ie holders of doctrine, readers of rune stones and entrails. The disequilibria became clear in 2005-07 with asset price and commodities run-ups, then implosion. Bailouts for the banks, foreclosures for the masses - in simple terms. What people often forget is that new and innovative policy directions get pocketed and banked by those who can - ie big money - and they cycle their rationalizations back around to maintain the advantage. Banks loved QE and ZIRP, and kept the vast bulk of funds in reserves, not circulating into the Main St system, so it took 10 years to figure out via systemic shock that this was a market response to exceptional policy, not a new immutable law of monetary policy, fiscal settings, and inflation expectations. The name of the game is financialization. It is the massive tapeworm of financial capital feeding off the real economy.

[@briskyoungploughboy]

Great comment. Over most peoples' heads unfortunately. Did not most of those funds end up inflating the price of stock-market assets? Genuinely curious, since that is what I saw happening to the indices.

[@mxvega1097]

A bit ended up in stocks, a lot was intermediated into the non-bank system (hedge funds, VCs, speculative crypto), a lot was traded back and forth in IR derivatives and risk instruments, and some got hoovered up by the biggest money managers to do whatever the hell with - buy up foreclosed homes, ETFs, international index funds, green stuff. BR didn't end up managing $16T overnight, but still, here we are. There are two very serious problems with this: non-bank FIs are unregulated (compared to banks), as are derivatives, and monetary policy breaks down at the zero bound of interest rates and massive QE. The money system just doesn't function with the usual boundary conditions removed. So it's fine while nothing really happens (see M2V - monetary velocity from 2009), but as soon as something happens like a supply shock and inflation breakout, policymakers have no frikking idea what to do.

[@karliem1845]

😊😅

[@robertlawson8572]

"The name of the game is financialization." Varoufakis made that very point a decade ago, IIRC. It is good, though, that the point is made again. He's also, largely, right, I think, about what he calls Technofeudalism... But it's often late at night when I get peace to watch his videos... (and become a serf to the platforms upon which he appears...)

[@Saffy-yr8vo]

Agree with your last sentence. Well they’ve nearly stripped that carcass clean. Gary actually explains in simple terms the difference between the economies on another vid. Which made me realise a lot. When you have fascists changing the rules for themselves and their mates it’s hard to break it. England has one chance I think. Possibly voting Green scupper both red and blue tories. Not impossible. Good luck to you all.

[@phillipprestontrading]

I've yet to listen to a more authentic, honest straight talking young man. And his courage, to come out and try to help the everyday person who's not really living.....more SURVIVING, is really humbling.

[@murdock6450]

You reckon life was supposed to be easy and these clowns are telling u the truth. LOL

[@JoolsUK]

Lot of effin and jeffin in this video, in others he doesn't do it so much

[@jambott5520]

@@murdock6450 People didnt suppose life would be easy. They supposed that life would be as easy or easier than the life of their parents. Instead, everyone is struggling more than they used to, more than they need to. You are playing defence for the people siphoning off money from the UK into their offshore bank accounts, and for what?

[@murdock6450]

@@jambott5520 Stop crying

[@lesleyrobertson5465]

I feel I’ve been lied to and treated like an idiot all my life. It doesn’t matter how hard I work I’ll never be able to pay my bills.

[@fleetinghopes6448]

That's the system. Capitalism is all about exploitation and the concentration of wealth. As Gary says, we need structural change.

[@coopsnz1]

the government steal more of your weath that socialism policy ! the government exploits you more than a corporation

[@Solar.Geoengineering.Advocate]

yup capitalism as we have practised it for hundreds of years is just completely insane. its a cancer on humanity and the world.

[@JoolsUK]

why do you think so many people are looking at vanlife or off grid

[@thodystack]

I absolutely agree with you. I simplify it down to this. 'There are enough apples for everyone. We could all be sustained. If one person holds a thousand apples, a thousand people have to starve. If one person holds a million apples, a million people starve, meanwhile the apples rot. There really must be a better way.

[@sharesgames9546]

Ha ha, communism? We are literally getting there. No one wants to work, everyone demands WFH, days off, no one cares about a good service or an impeccable product, all they care is "mental health", and their entitlement to the easiest life possible. A few good, concientious hard workers are being fleeced by taxes, lawlessness, shoddy services, bad infrastructure, ridiculous energy prices, so soon, they too will join the armies of "stay home" "mental health" "benefits" etc

[@AlanReid-mt9kk]

We need to reduce National Insurance imo.

[@connecting_the_dots24]

It's called socialism.

[@sharesgames9546]

No, there are not enough apples for everyone, unless someone gets their backside out of bed and gets to work. You can then confiscate the rich man's apples and give them to the poor. Then the poor realise it is a great life getting apples for free while staying in bed all day. But those who do get their backsides out of bed and work the fields collecting the apples soon realise too that it is much better to just stay home and receive the apples every two weeks. In the mean time the inventor who just created an automatic apple-picking machine and the enterpreneur who financed it, both had all their apples taken away to be given to those who decided it is better to stay in bed. The genius inventor in particular, who had worked day and night for many years on his invention, saw nothing in return, and as a matter of fact no one in management recognised his contribution over a hundred 9-to-5ers who simply clock in and out just to collect their apples at the end of the week. And the long awaited promotion went instead to Vicky the new office assistant migrant from some far away country who hardly speaks the language and has never seen an apple tree. And then you reach the point that the apples are rotting on the ground by the trees because no one can be bothered picking them up before the ants and the birds get to them.

[@chrisgoodman7820]

But i don't like apples!!

[@kentonsheppard1559]

It is refreshing to listen to this. Whilst I have none of the knowledge, training and experience that Gary has, I have been saying much of what he is saying for some time now. It’s the reverse of “trickle down economics”, “bigger bath economics” that’s at play here. It is a fundamental fact that policy decisions have accelerated the transfer of wealth from less well off households to the wealthy. It’s my opinion that the current government have essentially been filling their and their backers’ pockets since the opportunity that they saw in Covid-19 arrived. I am aghast that there is none of this clarity of exposition from any other political party right now. It saddens me that there is so little ambition in UK politics.

[@jimjimjaroo807]

I am now fully aware of the inequality problem and its trajectory. Thank you. I hope this message reaches critical mass and soon.

[@jessery475]

This guy has got big 5am at the afters energy. Feels weird to hear these conversations without being interrupted by the tapping of a credit card and snorting sounds every few mins. Agree with every word he says though. Spot on.

[@ShortFormLiFe]

the comment I was looking for. This guy has definitely seen some insane afters lol

[@mrtwostrike]

😂

[@cuysal]

Amazing what seeing the grim future ahead will do to you, even when completely sober Like a shot in the arm Gary is on a mission, and he's on fire 🔥

[@Tomfoolery1980]

Ah sorry i keep interupting you, what we're you saying again? Ah yeah right right yeah, fuck me this is spot on, he's got bags under his eyes up his nose and down the back of his throat. Gary's played the bugle for so long he's got callused bank notes.

[@slashingbison2503]

haha well said. i think this might be every night for him.

[@rossswans]

The timing of this video alongside an announcement that the U.K. is recession is impeccable

[@damien_the_commentator]

The UK has been in a recession for about a year. Unfortunately Left Wing Pages like this are miles behind 😂

[@ISOLATICN1]

we was in one over a year ago, how could no one see that lol

[@p.m.8316]

We are in a recession since 2008.

[@ConstructiveMinds100]

Is he a part of the swarm? What change does he bring to the table? Another book? Fabulous

[@nicodesmidt4034]

@@ConstructiveMinds100 Ideas are contagious

[@TheDysartes]

Everyone should listen to this guy, he speaks so much sense and one of the few voices talking complete sense on a number of current issues in the UK and beyond.

[@coopsnz1]

he a liar because communism worse poltical class own everything

[@dinogreece]

This is such an important video, I can't begin to explain why. I've followed Gary since his very first KZbin upload. I thought he'd given up when his channel went quiet. Little did i know, he'd been busy writing a book. Im so happy that his broader thinking is finally catching the attention of the people that matter and are able to give him more exposure.

[@198746779838]

Did you know him or just stumble across his first video.

[@Teerifficgolf]

Now this is what I want to see, Gary is finally starting to get the movement started

[@youmustmonthebiff]

Gary, the banking millionaire who now helps the poor, exposing the system that brought him his wealth but only after he’d made said wealth. Ridiculous.

[@WilliamAhlert]

Gotta support all we can!

[@sim00ps]

​@@youmustmonthebiffso you agree he clearly understands the system and can talk about it with authority

[@freepeach9631]

@@youmustmonthebiffwhat’s your problem? You’re commenting negatively about him all over the place. Do you have anything worthwhile to say at all? If not sling your hook and go do something useful- like Gary does.

[@summerisonthursday5239]

This is why they don't let people like him in the club. ​@@youmustmonthebiff

[@PuppyKat404]

I always hear the argument, "If you tax the rich too much they'll just move their money somewhere else and avoid/evade the tax", I feel like it's a bit of a cop out to not even try though

[@maksimso5300]

Thing is they can't move if they wanted to because all of their wealth is tied to properties and assets within uk and since they are super rich, they have lots so it would be a pain to sell it all. What are they gonna do move their houses abroad??? 🤣🤣🤣

[@oldishandwoke-ish1181]

If your money is mostly abroad, then you have already left, as far as I am concerned.

[@alistairrobinson3865]

It is a cop out, UK is a tax haven for wealthy, nordics are super high tax, and most other Western European countries have net asset based wealth taxes (Spain, Portugal, France, Belgium, Netherlands, Switzerland). Tories and wealthy just don’t want us to know. You don’t need to bankrupt the rich, just skim a little from the top of their ever growing assets.

[@dickybannister5192]

well, it's far WORSE than that. you cant fix the OPPOSITE problem until you do... wealthy foreigners chucking their money into the property market WITH NO COST is a huge part of the problem.

[@timfallon8226]

Funny how the West was able to seize all the Russian oligarchs cash in the blink of an eye when they wanted to.

[@kalpatel3324]

Really enjoyed listening to Gary, a sharp and straight-talking guy. It worries me even more now to see how unaligned the politicians really are to the entire country. They come up with their own ridiculous ideas and just end up wasting public money and don't end up fixing anything. We are too far gone to be able to fix many of the issues.

[@JoolsUK]

If they all were sacked and replaced by taxi drivers we'd probably be better off. Interesting isn't it.

[@StewSims]

This is probably one of the best interviews I've seen in a while. I would like to see Gary asked about his plans for the future though and pressed more about concrete steps that can be made to change people's thinking about the economy. It's fair enough if he wants to write and sell a few books and carry on with KZbin, but I wonder if he has a hunger for something more. He's definitely someone who could be an increasingly important voice for positive change, if he wants to be. It would be nice to see people like him be part of a (perhaps non-partisan) movement advocating for and working towards more fairness in society.

[@jaymadu]

He has proffered a wealth gestation idea, where family wealth has a time limit before it can be taxed highly..

[@bertiebassat5545]

Discussions of the Covid wealth transfer never highlight how many smaller and community involved businesses were destroyed while the furlough payments spent, were funnelled into the larger corporations, this accelerated the wealth transfer from local business towards global business, further eroding the very fabric of liveable local society.

[@TheBurdenOfHope]

Great point 👍

[@johnreedy9098]

Yep, the whole focus was on the moral panic about "lock down to save lives" when the whole point of lockdown was class warfare.

[@MrMjc83]

This!!!

[@hypatia4754]

In Spain this didn't happen due to a socialist govt. All small businesses were given help. Now we have one of the lowest rates of inflation and economy is better than it has ever been (despite high unemployment which we will always have due to historic reasons too long to go into)

[@HitchcockTheSnail]

Spain has been taking great strides in good governance for a while now. I also noticed it decided not to cut the UN refugee agency money after most of the western establishment did which shows how Spain has a much higher sense of integrity than a lot of the Northern Europeans who like to lord it over everyone - Viva España!@@hypatia4754

[@stephenc7428]

When the canvassing MP knocks on your door, ask them ....' What are you going to do about wealth inequality?' They are not going to say Great Question. Most probably don't even accept it exists. This is what must be asked by the people of the UK. We need that question asked in House Of Commons QA time.

[@ThyCorylus]

They aren't stupid enough to pretend it doesn't exist. They'll just tell you they care deeply about it and it's something they'll tirelessly work to reduce. They'll just lie.

[@stepheneurosailor1623]

House Of Commons is just pantomime for the ignorant masses

[@Euphoftoday]

They are clueless to the financial system. They have no idea that inflation is a fake construct. Currency debasement is the correct word.

[@swojnowski453]

Not asked, repeated and repeated again and again, until it sinks in, the issue is real. It does have to be true ,but if it get repeated every day and many times it can't be ignored easily.

[@TheMuslimsarecoming]

Email them every day until they answer you.

[@kalinyx8913]

I love the simplicity with which Gary cuts through narratives and framings which obscure the most urgent issues in what's generally referred to as 'our economy'. Would really appreciation it if he would do a video specifically about the issue of developers leaning on communities to accept the production of less and less livable housing 'to alleviate the housing crisis', when in actual fact the downward pressure on housing quality only serves to increase the inequality which causes the disparity between housing need and housing provision in a ratcheting effect. I've seen so many communities who oppose extractive and unsafe methods of development in their area vilified as 'NIMBY's, or councils who insist that planning promises are kept to, painted as overbearing and out of touch with the public desire for this basic need to be met, when in actual fact it seems to me that decreasing housing standards to increase the profits of out-of-town entities who then move on to their next meal (leaving communities and councils to deal with the longterm social effects of substandard developments) is a function of the formulas he speaks so eloquently about. Forgive me if this video already exists! I'd be grateful to be linked to it if so 🙏.

[@anselmcarr-jones1664]

This is the most compelling I've found Gary. The point about economic power is the most salient. The fact is we need a power redistribution, that redistribution is not achieved from tax redistribution in the long run. It comes from normal people's power resting in corporate structures. We need to see stronger trades unions, massive expansion of cooperatives, and, yes, nationalisation where appropriate to stop the wealth transfer at source

[@kalkiavatar100]

"Where appropriate!" ? Why is spending taxes on warfare appropriate? That wealth needs transferring to supply free healthcare education and a "Universal Basic Income" to free every citizen over 21 years of age to decide what service/work they would like to do in exchange for that UBI. As Bernard Shaw pointed out in his book (AN INTELLIGENT WOMAN'S GUIDE TO SOCIALISM, CAPITALISM, SOVIETISM AND FASCISM) it is the inappropriate transfer of wealth by wage differentials that is the cause of greed and poverty. If is not Foreign Aid we have given to nations where people are really starving, (with no food banks from excess stuff thrown away by supermarkets) we have lent money on compound interest to undeveloped countries, and grown rich on the compound interest they have had to return to the ex-colonial wealthy countries. No mention of this fact by Gary! He knows all about it, of course... but he is only concerned about Britain not having to pay back the bad karma it has earned by fleecing foreigners! The assets owned by the 1% must be freely shared with those who the debt economy has fleeced, through inflating monetary value, so that the £15 per week I earned in 1959 could now not feed me for one meal.... Consider the fact that that in Bolshevik Marxist/Leninist China a bag of rice cost exactly the same amount during the lifetime of Mao Tse Tungs regime!

[@paulwebster4499]

Gary, u are not wrong, ive been saying for years that Brexit and Trump weren't about Brexit or Trump, they were both about the financial mailise of the working class and middle classes.

[@stephenc7428]

I am lucky enough to own a flat in east London, the freehold is owned by Lord Astor, who won BILLIONs of pounds of property in UK held in offshore Adriatic Land (oil rig in Singapore), They employ insurance companies who charge us 500k to insure a small block, 6.5k for 2 bed, because a large developer builds it and cut corners. It is all for the super-rich run by the super-rich and they are . Media and government bodies, and regulators are only in place to maintain the status quo for them. Gary is right, poverty and super wealth exist side by side, all while the diversion tactic of the government to not fix issues in UK is let them happen, telling u that is the problem when they just could not give damn to fix the problems. Procurement of services in NHS is filling the pockets of the rich. No leaders in politics today, all fronts for big business. Why do they all run off to JP Morgan or Chase to speak for millions. Tax the super rich

[@ProperGander17]

The EU is a globalist extortion racket and centralised power grab...thd EU is the establishment, hence the crestfallen wailing when we voted to leave. Get a clue mate. Same with Democrats in the States who own entire media and big tech for their activism. Biden is currently destroying the USA after stealing an election

[@lesleyrobertson5465]

@@stephenc7428wow fucking hell

[@lesleyrobertson5465]

I have a confession I watched one of Gary’s videos just before I was supposed to be on shift. I was soo depressed afterwards I couldn’t go. As a nurse watching the demise of the NHS and still not being able to pay my bills at the end of the month,despite working hard, I couldn’t do it. The rot is irreversible Gary it’s too late

[@oldishandwoke-ish1181]

Brexit was a project of the rich to avoid tax. Unfortunately working class and middle class people were persuaded by the Right wing media that it was all about them.

[@LiveOrDieTryingLSA]

Think you for this video. Real insight. My situation, I'm working full time as a lorry driver, spend 5 days on the road while my partner takes care of our child. She lives at home with her parents, she works part time in retail, while our child is being looked after by her disabled mother. When I'm not living in my truck I'm living in my caravan. So depressing, its unbelievable and I'm starting to lose all hope of a bright future ahead.

[@OnlineEnglish-wl5rp]

Keep going/ Nothing stays the same forever

[@ShakirahIbaad]

I’m so sorry, you deserve so much better.

[@swojnowski453]

Leave the country, go somewhere where there are fewer people. IN the UK nothing is going to change coz money printing and immigration are out of control. You have no chance for a home at a normal price.

[@sarahmurphy-nf4yl]

Have faith.. things will turn around. Nothing ever stays the same forever 🙌

[@navkiratdhami5923]

Your situation is not right, there is no accountability from govt. Earlier comment summed it up, elderly scared to use heating but British gas profits skyrocketed. I'm sure thints will change, people can see what's going on more these days.

[@Alan_Duval]

I remember I did an analysis of the financial services industry about a decade ago, where I looked at its proportion of GDP and its level of employment. Between 1996 and 2015 or so, financial services increased its share of UK GDP by about 1%, year on year, with the exception of 2008/2009. However, over that whole period, employment in that sector remained about the same, in total number. So, productivity, as measured by income to the sector, was increasing, but none of it was going to increase employment. Meanwhile, other sectors were stagnating and shedding employees, sometimes because of the bets made in financial services.

[@marcusgreen1715]

Great podcast Gary Stevenson speaks from the heart as a boomer couldn't agree more on the last statement I worry about my grandchildren every day as the country goes to the dogs.

[@deanbuck7985]

I've said for the longest time that the UK has so much in common with where Germany was pre WW2. Very refreshing to hear someone pointing that out.

[@apollomemories7399]

Well it absolutely hasn't and a total nonsense to even begin to think like that and a shocking indication of an unmitigated lack of education on that subject matter.

[@sarahmurphy-nf4yl]

Not just UK... all of Europe. I've been saying the same... I feel we are in pre WW2 days. World is becoming sinister. Biggest threat in my view.. is klauss schwabb WEF. 'YOU WILL OWN NOTHING & YOU WILL BE HAPOY' - Klauss Schwabb.

[@keithfoster6042]

The really scary thing is so does the U.S.

[@mattyn870]

Absolutely the growing support for Reform proves this

[@deanbuck7985]

@@apollomemories7399 well it is a former power loosing world influence with it's economy shrinking and no political direction with rising inequality leading to people going to more extreme ends of politics for answers. These are facts that are the same between the two sorry if you feel different. Is there anything you can point out is historically wrong here?

[@NicholasLovatt-jq2wc]

I admire that inner working class anger. It's not now found in parliament today.

[@danamba7]

There's plenty of Eton delusion, though

[@Karl_with_a_K]

BuT YoU cAn bE rIcH too, aLl you nEeD iS thE rIgHt atTiTudE aNd a LiTtlE eLbow gReacE! (That's sarcasm btw)...

[@nomoreheroes93]

I come from a tough background too but how Gary uses it as an excuse to morally justify being a trader (and still boasts about it, very crass) is pretty weak, I didn't have to go and rip people off for years to realise it was wrong - he made his money and cashed out, nothing to admire there for me

[@dkbrook9178]

​@@Karl_with_a_Kgrease*

[@Jordan-hf4ch]

@@nomoreheroes93 It depends if you think he has been a net positive.

[@blossomyoung9615]

Add to this the Vimes Boots model of economics and the inequality is even greater as you move down the scale. It's expensive being skint. This isn't Dickensian Britain - nobody's building poor houses.

[@gedertonfc]

Keir Starmer said he would like to work for the WEF, something tells me that he and Rishi already do.

[@inksterinky9820]

Please, please get Gary on every LBC radio presenters time slot. This wonderful guy who has dedicated his time and energy for the last four years. Love Gary Stevenson ❤ Thank you Oli for promoting Gary's intellect and foresight ❤

[@mal6232]

Never get it past the regulator with a foul mouth like that.

[@stephengreen9720]

LBC….please, just have a quick look at who owns LBC (global media and entertainment limited) Gary discussing wealth inequality on LBC, a platform owned by the very people he’s pointing the finger at! The only people that stop this is US, but we’re all fighting with each other over pathetic shit!

[@jimogjimog]

Look at his videos, he doesn't swear.

[@riboid]

​@mal6232 and I struggle to really understand what he is saying.

[@avatarsandhu2862]

dont you know he is Jonathan from Harrow on the nick abbot show ....

[@waynecartwright-js8tw]

As someone who bought a house in 1987 and has seen it increase in cost by 10+X, but in the same time has seen wage growth of half that its hardly rocket science. You only need to play monopoly to see what profiteering of housing and utilities can do. The UK has been seriously harmed in its output by high utility costs , investing in generation by the people for the people was needed. A bit like EDF for the French government. Water and Electricity are life essentials and not for profiting from.

[@JohnSmith-le5oe]

Your house value has doubled each decade since 87.

[@swojnowski453]

people in this country are treated like cattle by foreign companies, the government sold sources of essentials, and that's the result of it. The last thing left is the NHS. Once it goes the country will collapse. You can see it already by looking at number of long-term ill people of working wage, There are millions of them and nobody to help reasonably quick. There is no return from this, not even immigration will help as there are not enough skilled people who would like to come over here and work for long enough. not in the country where every river has more shit than water in it.

[@robertproudfoot7990]

Are you saying its less than 10x? little confused by your statement. He did specify cost. 3 decades since roughly, so thats 2x, 4x, 8x (price). Then when you factor in mortgages, where often on a 300k home you'll pay 500k over the lifetime; dependant on interest rates and length. You could argue that the 'cost' is indeed over 10x +. I can actually give figures for a smaller timeframe as I bought a house from my family. They paid £91,000 in like 2001. I bought it in 2022 roughly, and it cost 255,000. thats a 2.8x over 2 decades. So lower than both your approximations. I'd love to know what it cost when built.... i might have to go see if I can dig that up. @@JohnSmith-le5oe

[@biffa1234100]

Love it absolutely brilliant I wonder why half of these clowns have never thought of the MONOPOLY analogy, Thanks for your insight bro.

[@tcookoye]

Planning restrictions can be eased to increase housing supply.

[@davidelliott8364]

That is one of the best interviews I have ever seen. Sure, it speaks to what I believe, but to see an expert, interviewee, commentator, how ever you'd like to describe Gary Stevenson, actually get exasperated, not because they've been hoist by their own petard, or the interviewer has skewered them with questions showing their duplicity, but because they give a shit about what they are talking about is a rarity and a treat. Thoroughly illuminating, enjoyable and terrifying. Congrats, Ollie. A great interview, but it does make me wonder how you recovered from it? You had that 'Oh shit! There could be no stopping this' look about you as you were clearly thinking through parts of what Gary was saying. Great job. All the very best to all concerned. Cheers, Dave PS I'm so pumped up I'm off to storm the Bastille. Anyone else? 😉

[@AB-zl4nh]

We need a Fair (PR) Voting system, Right To Vote at 16, Automatic Voter Registration & Compulsory Voting. You need a fair political system that affords you the maximum chance to give Left & Centre-Left political power. Words & protest is not enough.

[@AnonAnonAnon]

My dad aged 88 has hardly turned on the heating since December 2022 because he's scared of the costs. He has a good pension and received the winter heating allowance, but every night he'd watch the news and all the talk of the so-called energy crisis, so was worried sick he'd get a massive bill. He said it reminded him when he was a kid, just a coal fire in the living room for heat, the windows in the bedroom frozen with ice and cold and damp bedding. But that was back in the 1930s, today its 2024 and this government is pushing us back to the times of Dickens! How has it come to this? Energy crisis? So how come the energy companies made billions the last two years in clear profits? Cost of living crisis, yet the supermarkets are rolling in millions in profits. Corporate greed at a time when it shouldn't have happened and shouldn't have been allowed, yet the Tories did sweet FA to soften the blow. Instead throwing taxpayers money at the problems instead of telling the corporations to ride the storm and use their profits to keep prices down.

[@marianhunt8899]

I bet a lot of the 'inflation' money was diverted to fund the 'forever' wars. There is always a money tree for that. Inflation is just another stealth tax.

[@swojnowski453]

British Gas from 74 millions last year to 781 millions pounds profit this year. Crisis, what crisis. It is a boom this country has never seen before. Never waste a good crisis when millions are with their back to the wall in.

[@jackdaniels4368]

well said, all good questions

[@stephengreen9720]

It’s all theatre, Westminster, democracy blah blah blah. Anyone who thinks it’ll be different when Labour win is deluded! The only way it changes is if WE SAY SO, but the masses are plugged into MSM propaganda………….

[@aerial558]

It's disgusting how much profit British Gas has made from purer misery. The Conservatives are only interested in looking after themselves and the rich? They have all the mainstream TV media in their pocket peddling propaganda shit with constant gaslighting of the general public. God help us if the Conservatives get back in again

[@fiddley]

A kid from a council estate could have the secret to Nuclear Fusion in his brain, but if he's forced to work at Deliveroo to make ends meet we're never going to find out.

[@boremir3956]

I often wonder, how many Einsteins have we missed out on because the vast majority of people that could have become someone like Einstein did not have the opportunity to develop themselves because of their economic circumstances.

[@crazystuart]

Well if only a certain percentile can ever have the chance it’s a limited gene pool.

[@user-qo9un2mf5u]

I was expelled from two schools for being bullied and raped at school. Everyone talks about my attitude we’ll try being that little girl locked in a garage with oil and a head injury being gang raped by two cousins. Not allowed into college or uni to become a nurse. Recently found out I have the IQ of 128 a genius. All my life I wanted to study to become a nurse. Instead I live on disability benefits after my mother pushed me down the stairs after my first expulsion. Her and her brother put me in the back of a van to get me to the next school. In school I was classed as the trouble child and my rapist is with a teacher at the school. Women don’t matter because they can work less physically than men when building businesses yet women are mere care givers for a short time. The economy survives on what we do and what we make to sell to other countries- we don’t have enough workers to keep the slave system and people living on benefits when they won’t work for their money. We are obviously paying too much for our government and that is our debt. Our nhs and we don’t work hard enough for it according to sunak. They can go fuck themselves. I haven’t had my heating on for over two years- I use one room in my house because the neighbours are alcoholic dirty and loud so I can’t use my living room at all. I’ve had my tyre slashed and car scratched costing thousands of pounds and I’ve not long moved into the area. Clean police record for 39 years and now been to court three times for assault when I’m trying to protect myself from more harm. We aren’t allowed. We have ONE punch to protect ourselves anything over that is assault- 😂😂😂 they are a load of con men. They are playing a game of monopoly backwards and we can’t even roll the dice in the first place. A genius and the schools can’t and don’t want to teach- why is that??? They expect us poor people to get shot to protect their mortgages thats why!!!! As if any teacher would send their children to war. We are nothing but slaves and target practice. America makes all the money from war. How many people do you want us to house for free???? Half the world is here already living on our tax. Asylum seekers get free heating in hotels whilst we are forced to pay £40 a week for our own too. The more people that need to survive the more profit they see because we will all fight over the last piece of bread for survival and they know this. They have us all on strings. Children that can’t get to school punished, parents punished for trying to enjoy a life with their children- children bullied by the teachers in front of other children- teachers will hug their favourites and bully the rest. Men not paying for their children or their rent whilst growing up having to rely on other people’s tax. Yeah it’s a mbas world and they will do what they want when they want. Why would I leave any of my children in someone else’s care? Why should I work hard to pay someone else to care for my children? Whilst I work for less than a wage because I have to pay the childcare?!?! They make it all about money well it makes so much more sense to live on benefits when the rent is free £150pw or 10hours a week work- council tax- water- travel expenses to and from work- no police around when you need them, teenagers committing suicide because they see the future and life for what it is. We are discriminated against and people love other people with power and money so they can lift eachother up whilst tearing another apart just for fun. Pedophiles allowed to live next door to schools where they already tried raping a few girls but allowed to stay and be out of jail simply because he worked for the council????? What the actual fuck. That’s the way they want it. Total freedom to rape children and women not only if their body but their confidence, their money and their lives. Men don’t make the money- men’s jobs survive from women- builders because the divorce- truck drivers to deliver food that we shop for and pay for that gives them a wage. Think about yourself and your neighbour as two different countries- would you allow them to stay at your home which is overcrowded as it is when their home is safe right next door??? No!!! Nor would I buy you would if they did your cleaning cooking and paid you to do it- well that is exactly what and how it is. The government will allow them in because they should be working and paying into government wages meaning they’ll be paid more and it’s done at our expense. Polish men given jobs in this country and it’s advertised in Poland for accomodation included with work and travel expenses etc etc to work in our local factories. Taking away from locals to bring in cheaper slaves that will work harder but aren’t as good. Their behaviour is taking us back 100years. I’m locked in my flat because of all the problems other people cause me. It’s literally so funny that men still think they earn when they survive off women and women working hard. If a man works he hasn’t got enough wage to pay all the bills plus children plus what his wife needs- clothes a day out etc etc. if women don’t work then that’s another woman’s debt not another man’s debt. Women save the economy billions in care costs- why? Because they are doing it for free they just don’t realise yet. It’s all abusive to us.

[@ROSE-mq3qd]

Agree - look at the regurgitation of culture, theatre musicals from films, it’s because the elites that own culture have run out of imagine and new ideas but won’t let in new fresh voices - it’s grim on so many levels, literally being born rich is the only hope a child can wish for, it shows how far UK society has fallen, the shady Michael Young and his Young foundation are / were wolves in sheep clothing, I think all those charities are total scum

[@harrycallahan1]

You have just identified why we have public schools for those that can afford them. Natural (un-natural) selection in action.@@boremir3956

[@martin61458]

Fantastic Gary, straight talking and right, exactly what I've been thinking. Now all we need is a political party that realises this and has a plan to address it. Would be interested in what Gary plans to do to solve it, how we, the public, may be able to help together?

[@Yeeeeeboi]

Will never happen. Politicians are not build, they are picked

[@iangillon6981]

Wow this done my Head in...Bloody hell. We all knew it. But explained, very well.

[@djben06]

This is easily the best interview I've watched for a very long time, everyone should be watching this!!!!

[@punikachi]

Gary is great, I've met him before through mutual friends and he's a very down to earth guy and I can tell he truly cares about these issues.

[@Rmcaw]

As a huge believer in the free market and capitalism, this man's polemic speech is a hammer blow to highlighting capitalisms biggest flaws, he has the background to back his rhetoric, I will definitely get his book. Will also subscribe and will go through his youtube channel, a new convert here! We need more people like Gary in politics, especially as Westminster currently has a dearth of talent, ideas or vision.

[@james4ddy]

Capitalism is full of contradictions it is out dated for humanity. The reason that equality dropped after ww2 is the exsistance of the soviet Union which eliminated the capitalist class as a result western capitalist class feared the sane could happen to them and offered concessions to people demanding them

[@OnlineEnglish-wl5rp]

Markets are good. Capitalism if used with control can benefit everyone. The free market since 1979 has clearly been structured to benefit a tiny elite and nothing better illustrated that than 2008 when the super wealth made bad bets and yet were bailed out by everyone else.

[@stevenhoward9926]

@@OnlineEnglish-wl5rp I lost a 30 year old business, royal bank scotland did us.

[@james4ddy]

@@OnlineEnglish-wl5rp no capitalism is well put dated for humanity and capitalism always has and always will benefit a tiny elite

[@EA1444]

What's your alternative?@@james4ddy

[@edmurth]

The class system is still hard at work in this country, thanks for doing this with Gary I hope his voice continues to grow.

[@HumanBeingsRThinkingBeings]

Mind Begs the Question: - If a Govt always has funds for Wars - If same Govt always short of funds for People - Govt is Good or Evil?

[@edmurth]

@@HumanBeingsRThinkingBeings far too simplistic, the world is a complicated place.

[@HumanBeingsRThinkingBeings]

Mind Begs the Question: - Hitler propagated Jews unsafe to German Culture,Identity - If Western Politicians,Govts propagate Muslims unsafe to Western Culture,Identity - Western Govts lead by Neo Nazis,no?

[@boremir3956]

It's worldwide, because the super rich don't need to stay in one country.

[@HumanBeingsRThinkingBeings]

Mind Begs the Question: - Islam forbids Usury/Interest Banking - Those who practice,impose Usury - To view Islam as Threat to Eliminate/Demonize,no?

[@user-zb7qf8rq5r]

I come from a similar background to the speaker. I took over my first bank in my late 20's. My only criticism is his context. In his book we have a pool of one billion people living in the first world and the bottom layer are facing a plummeting living standard. The question then is who has the money and his answer is the rich because the poor have obviously lost it and the rich are the only ones left. My view of the game is that we live in a world of 8 billion people. Of these 7 billion people live on around 3% of the living standard of the first world. The internet and container shipping are allowing more of these people to interact with western markets which is drawing funds off a pool of one billion rich people to raise the living standards of 7 billion very poor people. The politicians attempt to steady the ship by printing money via fiscal deficits to slow down the effect, and introducing minimum wage levels but ultimately you cannot buck the market which will tend towards the mean. The problem for the first world citizen when you have one first world citizen on $1,000 a week and 7 third world citizen on $30 a week the first world citizen will face a plummeting standard of living. Well seal off the first world markets you cry. The reality is that the city of London and other financial centres work to maintain first world citizens standards of living by getting the inhabitants of the third world to pass over their raw commodities at the lowest possible prices. As to fairness is it fair to tax the richest 5% of the world citizens only to subsidise the 15% richest people in the world to the detriment of the other 85% of the poorest in the world. Its not the rich banker whose house appears to be appreciating in value as the politicians dilute the value of money to fund spending policies to keep the new poor at bay. The problem is the 7 billion people living on 3% of the western wages who have been given a cell phone and suddenly realise how rich the lifestyle is in the first world which can be traded with via the internet or travelled to being only a few hundred miles away.

[@karelappel4131]

The middle class is evaporating because the multinationals don’t pay taxes as they are listed in tax havens like Luxembourg, Ireland, Singapore, Netherlands, Virgin Islands, Barbados, Isle of Man, etc. Because they don’t pay taxes, they have more profits left to buy the middle and small companies. The end result is that they buy in bulk (millions) so they can purchase goods and services much cheaper than a small/ middle sized company can, resulting in even more profits. Eventually the small and middle sized companies, that do pay taxes, are vanishing. At the same time Multinationals collect subsidies from governments through educational programs etc. Multinationals also profit from good infrastructures, internet, roads, educational systems. Without these things, multinationals like Amazon, Tesla etc. be able to exist. This means that multinationals are like parasites. The second trick the 1% rich use for avoiding personal taxes, is creating charity foundations. Like the Bill and Melinda Gates foundations. They put all their money in the foundations and end up zero taxes. The foundations are not created to give money away to poor people. It’s a way for them to govern the world and facilitate their own companies. Through foundations they sponsor universities, and other influential institutions. It’s like a loop in which they can make their multinationals, that don’t pay taxes, even more rich. The third trick to avoid taxes, are Trusts. But the legislation on this one is getting more difficult. But it is very difficult to do something about these systems as Multinationals are ruling the world. They sponsor political parties/ campaigns. You don’t spit on the hands that feed you.

[@AnAn___]

This attitude is why the UK has less than 2/3rds US per capita income, measured both nominally and in terms of PPP. Positive inequality driven by perfection, excellence, merit, capacity, competence is a beautiful thing and greatly benefits the poor and lower middle class. The UK's aversion to inequality is why the UK suffers from such high brain drain. Currently 83% of foreign college students leave within 5 years of arriving. And many talented British residents emigrate from England every years. The more inequality averse the UK becomes, the more the talented, upper middle class, rich and elites will leave the UK for other societies that welcome positive inequality. And the more the UK will become a poor country. Does the UK really want to become a poor country?

[@wagg3r]

Let’s remember that one of the most valuable assets the rich have is our politicians and media, who do their best to portray the minuscule policy gap between our main parties, all of which are still just the same failed status quo, as some kind of meaningful choice. We live in an oligarchy and it’s time people woke up to that fact and starting behaving as that situation demands.

[@stevedavidson666]

The only reason Sunak is there is to increase his and his wife's family's wealth. Nothing else.

[@harbster2]

I agree. The Tories are totally corrupt. But just wait until Labour are in power. Then will will see incompetence reach unprecedented highs and we we look like a third world country.

[@VenturiLife]

A family office.

[@AnAn___]

Strongly disagree. Sunak has enough money and wealth and would be far wealthier if he was not in politics. Sunak and his wife are sacrificing to help the British people. Plus Sunak and his wife are only two or three generations from poverty. Poverty is a living memory for their family.

[@huudielbo728]

Why else would he take a £200 grand job? it's like playing Roulette knowing where the ball will go! Place your bet then make the policy that makes you rich!

[@stevedavidson666]

@@AnAn___ Really?! These kind of people don't know how much money is enough! Don't be brainwashed by their bulldust.

[@chriscopeland6246]

What an awakening interview; one of the most important I’ve ever watched! Thank you Joe and Gary… people need to hear it said, like this!! I’m spreading this one as far as I can!!

[@resultuk9700]

Joe big up...Gary total Respect Sir as they say" once you've been poor you can never feel Rich " But you can become Rich🏴󠁧󠁢󠁥󠁮󠁧󠁿👍

[@jamesmulrooney3309]

Been following Gary for a few months now I love this guy

[@youmustmonthebiff]

Gary, the banking millionaire who now helps the poor, exposing the system that brought him his wealth but only after he’d made said wealth. Ridiculous.

[@user-rq5sd1sq8o]

@@youmustmonthebiffGrow up.

[@annenewton2950]

@@youmustmonthebifftime for you to do a little research and get his back story. He’s doing more to educate people than the prime miniature who inherited most of his.

[@marierobson8144]

@@youmustmonthebiff you're a proper wee troll, aren't you? They do say simple minds are easier to live with 🤣

[@Paddythefriendlykiwi]

​@youmustmonthebiff what's your problem, that he has a conscience?

[@markwildphotography]

Nice to see Gary gaining momentum! Legend 🙌🏻

[@juliesimpson2122]

Absolutely BRILLIANT interview. Sums things up perfectly

[@kardy12]

25:00 exactly right - the mathematisation of economics in its physics envy often stops people from questioning the underlying assumptions of the models because the maths becomes much more complicated once you have to reconsider your assumptions.

[@godot-whatyouvebeenwaitingfor]

I knew a man who sold handbags on markets. He told me "If you give a rich man £1000 he will bank it and collect the interest. If you give that same £1000 to 100 men they will spend it in the economy".

[@user-nx6ji9tk8i]

And isn,t private finance required for so much needed new infrastructure?You could make an argument for the need for Philanthropists. No Ffff,s in that. This is also about morals and values, security and safety, attitudes and behaviour. Those who save will carry on saving. Those who spend will carry on spending. This is one whole big discussion. And if the spending is simply on just more stuff, what will we do when the energy runs out? The relationship of energy to climate security elsewhere.

[@CC-hx5fz]

I would have thought he'd have something clever to say about the kind of people who will spend £1000+ on a handbag!

[@allislove9890]

Worthwhile, high yield investments are generally not offered to Joe Public. Ordinary savings accounts lose against inflation. Many hard working people are genuinely struggling amidst this intentional chaos. There is no cake or handbags. Soon, there won't be any bread - just the circus, online only.

[@dylanmenzies3973]

Its not that simple - theres nothing wrong with generating interest is it invest in businesses that are genuinely productive and employing people. The problem is when money is used to hijack the low-middle classes through property ownership / lending etc.

[@dylanmenzies3973]

@@allislove9890 High return investments are available, but they carry high volatility - you can only stomach that if you have enough capital. Plus most people are so badly educated about money, and often could use it better, getting burnt with cowboys running bitcoin etc.

[@martin_green]

Outstanding. A long form interview conducted and presented intelligently, cohesively and with incredible observation, with attention to the details that really matter. Gary and Olly - you understand and speak the truth. This is a legendary interview.

[@hmq9052]

Relax. It's decent material. Have a glass of water.

[@thirzel]

A great example of true genious, the right combination of making authentic questions, life experience and empathy.

[@vintage0x]

This interview was genuinely refreshing. Thank you Oli!

[@tersecwalsingham5778]

Gary is a real one. Best of luck to him and his movement to tax the ultra wealthy.

[@joargruneau4716]

From Sweden, very eye-opening since we are facing the same issue but maybe not as far along as UK

[@thomaswikstrand8397]

Indeed, I've said for a decade that we are a decade behind the UK (and the US) in the decay. The same rot - neoliberalism - but for us it didn't take hold until the early 90's.

[@jackkruese4258]

And if you spend any time in the US you’ll see they’re a decade ahead of us here in the UK whilst we are maybe a decade ahead of you in Sweden. So unlike the US we atleast can see the warning of what’s coming if we don’t change course.

[@joargruneau4716]

True, it tells us where things will head if we don't manage to change course. I have been living in egypt for a few years and the inequality here makes europe seem like a utopia

[@thomaswikstrand8397]

@@jackkruese4258 I've spent a few years in both the UK and the US. People don't see anything coming though, they buy the usual big money and fascist propaganda. Nah, very, very bad things need to happen before anything will move in the right direction. Like black death bad things.

[@VenturiLife]

Gary is a real humanitarian. He has a lot of compassion for his fellow man.

[@RichardBrooks-rz2ex]

Are you insane? He ripped people off for years!

[@fridaber6069]

What is happening in the UK is also happening in the Nordics but slower and we're not as far along in the process... yet. Just ordered Gary's book!

[@coopsnz1]

because it more socialist not capitalist ! if idoits think poltical class dont own all wealth under communism the lied too

[@fang_xianfu]

"There's good people who are rich..." - yeah, it's not about good people or bad people. Just like if you have a high income, you have to pay more income taxes. If you have a huge amount of assets, you should have to pay taxes on them. Whether you're good or bad.

[@sportlol]

I didn't knew this dude before but his message is so clear and powerful that it should be heard by every single person on this planet. He is absolutely right in everything he says. Unfortunately I don't think there is going to be any kind of hope for optimism that this truth will ever be understood by the society anytime soon. We are screwed.

[@markwelch3564]

It's starting to cut through, and the more we share it, the more powerful it gets. Go share 🙂

[@piccalillipit9211]

I have been following Garry since he had a few thousand subscribers and for the longest time it was going nowhere, no one was interested, but suddenly it took off. I guess the time had come that people were ready to hear the message.

[@marierobson8144]

@@piccalillipit9211 Ditto 👍

[@Threadbow]

Look at Ren the artist music tracks, money game.

[@James_36]

@@piccalillipit9211 what message "we must tax the rich!! oh by the way by my book because I need the money!" keep educating yourself, perhaps away from idiots like this person

[@cr34t0r69]

Having now listened to the whole interview... I just want to hug Gary. He is the most important thought leader of this moment and I hope his voice is heard but I fear he will be silenced by the dark greed this world is stained with.

[@user-fz7zt6cw6f]

Thank you for your video and chat..I struggled a bit to hear some of the things you said sorry the words blurred a bit. I am an Essex person, not posh. Gary Stevenson is definitely a person who has a clear sight of economic matters. Britain has so many people living there I wonder how much more housing can be built. The population is 68 million. Many industries have left the country like steel and footwear manufacturers. I suppose it will take people running the country who are inclined to be benevolent and philanthropical.

[@lynnhickinbotham3784]

I have been following Gary for months now he is awesome can’t wait to read is book His voice is so important, I hope more people start listening to what he as to say and stand up for themselves Total respect to him and PoliticsJoe✊👏👏

[@craigburton4447]

Gary fucking Stevenson is a fucking legend

[@paulclayton9160]

not fucking wrong mate.

[@turboslag]

Fuckin right he fucking is!!

[@ohnoitisnt]

F-Bomb records were set today and noone noticed because the message was so strong 😂😂

[@danboid]

@@ohnoitisntI noticed alright. I couldn't listen to this interview beause it was 99% f bombs.

[@bubblebeard-6095]

@@danboid Imagine being passionate about something

[@giansideros]

27:46 or even read The Road To Wigan Pier by George Orwell which is a non fiction account of his time in industrial North England, in which he describes destitution, poverty and slums in ways that are becoming more and more familiar today as time goes on.

[@charliesayers1945]

An incredible, eye opening channel, keep up the good work

[@bpdlr]

The best fucking economic advice you'll fucking get all fucking year.

[@user-nx6ji9tk8i]

Or maybe listen to Steve Keen or ARC with Scott Tinker that keys in Economics, Energy, and Environment and their interdependent relationship with security in all 3 fields.

[@swojnowski453]

fucking full stop!

[@pauladams838]

Fuck yeah

[@edenjs1503]

You ain't fucking wrong 😂

[@matthewwells3865]

yes and then your parents have to sell their house to pay for the care they need at £8000 a month!!! So they can’t pass money onto the family. Bullshit

[@unclesleven7256]

He is genuinely an inspiration for working class lads.

[@camtyler3576]

And lassies

[@bytesize_video]

🤣He's a banker not working down the pit

[@James_36]

@@bytesize_video he is no banker - cmon just listen to this guy. zero proof of his credentials and zero proof of anything... he is so dumb he thinks taxing the rich works 🤣 he claims to be good at math, genius at math and yet he is writing books🤣🤣 then does not realise how if you do a simple formula on the richest people in the UK and divide their NET WORTH.. so liquidating al their businesses and loss of employment and productivity by the way - the uk population get a ONE TIME payment of £3k roughly per person🤣🤣 - this ASSUMES it goes direct to the public..... but NOOO it will go to our lovely GOVT 🤣🤣 - anyone waking up yet?

[@violetasiii]

@@bytesize_video maybe if you worked down the pit for some of your life you wouldn't be posting that absolute trash on your yt page

[@yogendrapatel7909]

He worked in the belly of the beast. He knows what he is talking about. If our government had any sense Gary needs to be brought in as a special economic advisor.

[@synappticuser5669]

I'm no brainbox but logic in Gary's analysis was brilliant. The book will be on order today. Thankyou.

[@Orion_003]

32:30 just to mention at this point. I live in a two bed house which I own. The biggest house in the street I’m on is owned by someone who doesn’t live in the UK and doesn’t live in the property. It’s an asset.

[@voidwraithprime8521]

Paying more attention to our downfall since 2016, this conversation calls out the main problem in plain terms. It is wealth inequality. He touched on the period after WW2 being the anomaly where people were more financially equal, what wasn't mentioned (at least I didn't catch it) was that there was a hefty wealth tax (at least here in America) all the way up to Reagan's presidency (which set the stage for our current nightmare world) Raise taxes on the dragons sitting on the piles of gold. Build a society worth living in.

[@jadedpersimmon3409]

I recall reading something (apologies I can't remember who by) that has stuck with me for a while now. It suggested that part of the motivation for wealth redistribution after the 1945 was that there was a competing economic model (i.e. communism and the Soviet Union) and by relinquishing some power to ordinary folks it would help stop them being suduced by communist ideals. Without a competing economic model (other than totalitariasm/authoritarian maret economies) there is little incentive to deliver this again

[@harryflashman4542]

My view is that an education system which fails most students is largely responsible for inequality. The entire system needs a complete re-evaluation. It is clearly failing and the long term consequences for our society are simply unsustainable. Low high-value employment, low family formation, low birthrates.

[@louiserichmondUK]

Thank you so much for this interview - really important viewing…

[@SamHarrisonMusic]

One of the most fascinating videos I've seen in a long while. Nice one Oli & Gary :)

[@aion5837]

I'm no economist, but even someone like me can see very clearly where the economy is going and why. Gary may have his head in high finance but his roots are firmly planted in the place where he grew up. He knows what poverty is, and that's something that can't be unknown. That's why people will listen to him because he speaks their language ie no snobby bull-shit. It's not a bad thing to be the good guy, Gary!

[@timjackson1904]

Gary has clarified my take on the wests economies. I've been following Superyacht Captain and eSysman SuperYachts channels and had deduced that this seems to be a growing industry. Coupled with Garys analysis it all makes sense. A growing market to invest in...till the revolution/war. But Im still mostly in gold/miners/silver cos fiats 'going down the swanny( or 'Suwannee', to help work out the english slang). My brother in law was crap in school and worked his life as a bricklayer, yet he understood what Gary deduced. Years ago he told me 'money always falls on the bigger pile' , his take on the rich get richer!

[@TheLuminousOne]

Our wealth and prosperity goes to the Private Monopolistic Banks of our beloved City of London Corporation and their offshore scam.

[@Bfg12327]

Watched whole podcast without break. Great interview and very clever guy. Kudos to the interviewer to keeping him on track and things flowing.

[@swojnowski453]

has google allowed you to watch without a break? are they asleep at the wheel? ;)

[@markwilson4652]

I'm so pleased Gary is back making content, I was worried the 1% had done him in lol. Thank you for what you are doing. I repeat the same messages and u care abt the man/women in the street. What you do to help educate the people is truly amazing. I used to believe the mantra u can't tax the rich or they won't stay but I realise now that that was the narrative given to us from the media. Turns out it's time for revolution. Thank u so much gary

[@fongy200]

And the radical Muslims are not invited.

[@OTLCellartapes]

the 1% would still be the 1% if they were somehow made to give away 75% of their assets!

[@sten260]

if you want to get rid of inequality you have to get rid of government... there's literally no other way

[@florentin4061]

@@sten260no you have to change property rights and corporate law because wealth comes from property owning

[@sten260]

@@florentin4061 so the solution to inequality is stealing? go take your meds

[@almurabitun]

Love Gary Stevenson. He's a true intellectual who has not only walked the walk by working in the industry, he has the qualifications and experience to back up his credentials but more importantly he is relatable coming from humble beginnings.

[@ProperGander17]

Just annoying he swears every other word and wants to sound like a black rapper

[@sebbar]

Doesn't he go on though about how he had nothing growing up. Get over it

[@marierobson8144]

@@ProperGander17 that's his background and he should never, ever apologise for it. Big hint of snobbery there. Would you prefer he talked like the landed gentry, or the Eton gang, or "received English" like wot they used to have to talk to get a job at the BBC? 😉🙄 🤣🤣🤣

[@marierobson8144]

​@@sebbar Why should he? Our upbringings and life experiences make us who we are. It's important, but I see the points made and the picture painted will always whistle over narrow-minded, unimaginative heads. 😉🙃

[@ProperGander17]

@@marierobson8144 it's clearly contrived as is his use of the F word.. Don't trust anyone who went to LSE either. A major establishment and finishing school of the elites that run this world.

[@louisedelport5019]

I remember hearing Cameron using the phrase "the politics of envy" for the first time and being dumbstruck. That the person in supposed absolute power in the country could have the audacity to turn people's legitimate request for equality into a sinful jealousy without fear of mass outrage?! Revolutionary change needs to happen but while we are brainwashed into believing those poorer than ourselves are hapless, fekless and deserving of their situation it wont happen.

[@peterclarke3020]

We need to stop selling off assets to foreign corporations and entities. An example of that happening was a new block of flats - sold off plan to foreign owners. UK buyers never even had a chance to purchase. The flats were then rented out, with profits going abroad.

[@MagnusInsomnia]

Next government should install a bench in the house of commons for people like Garry. A row of people who call out bullshit with impunity

[@hg82met]

I can't tell you how much Starmer won't be doing that.

[@theojenner1902]

You mean the House of Lords? House of Lords should be filled with people with a wealth of knowledge and expertise and Gary should be one of those people

[@JSmith19858]

@@theojenner1902 can't sit in the Lords if it doesn't exist

[@James-mb3je]

Even if the lords is abolished, there will still be a 2nd house​@robindufton1392

[@JSmith19858]

@@James-mb3je yes, except it can be elected like both the Senate and House of Representatives. Although it doesn't really make a difference either way until the swamp is totally drained at all levels

[@Gph0367]

Thank you so much for continuing to expose the truth Gary. You are amazing ❤

[@clemfarley7257]

He connected a few more dots, which gaps were open in other talks. I really enjoy Gary. He’s assuming that assets aren’t increasing in number; the prices for stagnant assets are increasing though. I don’t disagree but I’m glad he made his assumption or observation manifest. That closes a loop, and makes his argument more compelling. I guess he doesn’t hold out much hope for an increase in good jobs, which is not unreasonable. In which case, yes, inequality is a much bigger deal when the economy or pie or wealth is not increasing.

[@clemfarley7257]

But then he harps on post-WW2 as a time of greater equality, although that was secondary. The economy was booming for all. Jobs. Jobs. Jobs. Tax rates helped but the pie was huge and growing. America was 52% of world GDP. Italy had 8,000 washing machines in 1946. We made them for them. Jobs. Cuba’s inequality went down precipitously after the brains and $ were chased out by Castro. The country, which is more equal, sucks. I know Gary gets that but he seems to ignore it at times. Very confusing.

[@ROSE-mq3qd]

A conversation between Yanis Varoufakis & Gary Stevenson would be great 🌟 Both have been shouting loudly about the growing inequality…and we the sheep keep thinking Labour will sort it out, the current Labour Party really do not care about ordinary people and I think we need to organise and start demanding rental reforms, social housing, protect wealth distribution…talking about the planning system is a total red herring, people are now so ok to social media their life away…I’m surrounded by people who really think there’s nothing that can be done or depressed because they’re working so hard to get on the property ladder… It’s inevitable that things are going to get so bad before people do anything constructive…racists and right wing will create such hostile environment not just for foreigners but hostile to ordinary people before we wake up…

[@lesleyrobertson5465]

I’m under no illusion that if I was a single parent and a nurse I’d need to use a food bank. I can barely cover my bills rn. It’s getting worse as holidays are getting more expensive. All the things I work for to make my life better are unobtainable. It’s dire

[@OldGreyMulletTest]

"Small art and love and beauty Their drudging spirits knew Yes, it is bread we fight for But we fight for roses too" ✊

[@jimmyboyd817]

Need to try and get a side hustle going for extra income Lesley

[@lesleyrobertson5465]

@@jimmyboyd817 I’m trying to get my novel published

[@fleetinghopes6448]

@@OldGreyMulletTest so we need to fight for a community garden where we can grow those roses

[@fleetinghopes6448]

​@@jimmyboyd817 i.e. we need to keep running on the hamster wheel faster. Doesn't work. Many Americans working 2, 3, 4 jobs just to pay the rent. We need to change the system. We need a better system. Currently it is (literally) the game of Monopoly. If you remember, there is only one winner and all the rest are losers. This is how the Capitalist economy works. As Gary explains, its all about distribution, we need to do actually do some. Paying proper wages would be a good start. Taxing the rich used to work about 80 or 90 yers ago, but not any more. We need a better approach. Lesley is alluding to a deficient (broken) system. I appreciate that you are trying to help Lesley's individual situation, but that was not the point of her comment. There are many many people in such situations and there aren't that many "side-hustles" out there. And how much time, work, risk, cost do we need to do to be able to live? How many jobs do we need to work? 2, 3, 4? How could we get by with single-income households (and more kids than now) back in 1950s, 60s, 70s, but not now with all this wonderful high-productivity technology?

[@PWMoze]

Gotta love Gary's passion. Depressing though; a major decline in living standards, shrinking public services, institutional collapse, food poverty, fuel poverty, social insecurity, poor mental health, rising rents, migrant crisis, record immigration, stagnant growth, depressed wages and job insecurity and yet no one in government is suggesting any viable solutions. Gary seems to be suggesting solidarity amongst the working people forcing more targeted taxes aimed at the asset classes. Shame neither party is seriously discussing this.

[@AnAn___]

Aversion to positive inequality (versus welcoming it) is a major reason why the UK has the 2nd slowest real per capita growth rate in Europe since 2008. The UK needs to let perfection, excellence, merit, capacity, competence, self actualization rip . . . and celebrate the results. This will greatly benefit the poor and lower middle class.

[@bonnie115]

BS

[@mattiascarson1386]

Wtf sort of logic is this, literally elitist garbage. Education and opportunity is already grasped tightly by people from better circumstances. This would prevent those from more modest beginnings from getting a foot in the door. The inequality is the issue. People inbromen homes, poor areas with shit quality schoold don't often get the best start in life.

[@RajiBongo]

Straight and to the point and one of the grittiest docs I have ever seen. I am worried for the vulnerable , especially the youth and the elderly in this country. Specifically, our children, our parents and us when we are passed working age. Here's is my soapbox : COST OF LIVING : The Government is clearly in trouble. We have an accountant in charge. He is wealthy too and I am sure that our ability to live comfortably is at the top of his agenda. I am sure he remembers also, that poor people build countries and companies for wealthy people. That is fine, but poor people need a fair wage. MInimum wage is £10.42 per hour in this country. Companies also have "Zero Hour Contracts." These contracts should be illegal in a country like England. GAS - The Government sold it. It has nothing to do with Ukraine and Russia. Teresa May will long be forgotton. Except for : dancing in Africa, coughing uncontrollably at a party conference with letters falling down behind her and for selling OUR share of British Gas (Norway still owns their half). We now have to buy our GAS. I am sure that when she decided to sell it, she understood that in the future we would have to buy our gas? IMMIGRANTS - The Government needs cheap workers. Period. UK-born youth cannot work for the poor wages that Immigrants are prepared to work for. There is a Channel 4 Documentary which shows a food-Delivery rider making £8 in a night. Welcome to England. IMMIGRATION - It is more than just blokes in rubber dingys. What about "Legal migration". Over 140,000 legal migrants from Hong Kong have settled in the UK since 2021. I am sure these legal migrants previously worked in their own factories for £1 a day. Thanks again for producing such a thought-provoking video. ABOUT ME : I am the son of a legal immigrant from India. My father had two degrees. He worked as a postman in the Royal Mail for 30 years. We, after a bit af name-calling, integrated into the host community. Now, there seems to be a focus on differences and not similarities between people.....

[@True_Heretic]

For every wealthy person there has to also be several poor people. Wealth equality would mean less overall wealth, but the optimum economic situation would be much more balanced than it is now. Liz Truss wanted to give tax cuts to people who didn't need them. Give more money to the poor and they'll spend it all, boosting economic growth and keeping food prices down. The support from the government in these trying times has genuinely helped many people. But the freeze on local housing allowances has guarenteed more homeless people, and the benefit caps often penalise people unfairly. The Bedroom tax is also a massive drain on so many people's income. Greater economic equality would lead to less crime and less demand on the NHS, saving the UK a huge amount of money. What comes around goes around.