Victorian levels of poverty will return to the UK
2024 ж. 30 Сәу.
278 112 Рет қаралды
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Performed by Gary Stevenson
@garyseconomics
The days of the working classes enjoying their well earned money on a better life than their parents - is over. We are one or two generations away from reverting back to Victorian poverty (imo)
Yeah that's your opinion, we're not one or two generations away, we're literally the generation, lol.
the Victorian age was amazing for the UK and Empire? We also had no immigrants... what's the complaint about
The UK is a nation of immigrants and their descendants over the centuries. Celts, Romans, Danes, Normans, Huguenots... From all over the world. The House of Saxe-Cobourg. Our PMs, MPs, military, police, medics, scientists, builders, bankers, educators... Also a nation that created lots of emigrants too.
@@slapjuice Yeah it was amazing relative to what was before it, not what we have now...
@@calumbell2276 Now we have dinghy, immigrants and a country we don't recognise! Victorian era looked pretty amazing
Its already happening...look at the growth of food banks
The majority of people who use food banks are due to sanctions on benefits or people leaving a job and waiting on said benefits, junkies who lie and pretend they need help with food because they have used their money on drugs etc. not because of poverty in itself.
Are food banks growing????
@@jamesblackshaw132 think rheyre sating the amount of people relying on them
@@mclovin3725 U mean all the benefit claimants who hear free food and come running
That's more to do with politicians trying to buy votes than it is the actual need for them.
Extremely effective communicator
it's by design
Yes! WEF!
You will own nothing and be happy
the Victorian age was amazing for the UK and Empire? We also had no immigrants... what's the complaint about
@@slapjuiceYeah, can't wait to send my three year olds to clean chimneys
@@slapjuicebot
This is worldwide. It's so important to understand this. And if we get it sorted in the UK, we can help poorer countries see this. What's frustrating is that if we gave ordinary people a chance to make a decent life, we all become richer. There is so much wasted talent where people are struggling to survive- people don't have the wherewithal to train for a trade in which they can really contribute to society. And when you look at somewhere like Brazil and other countries around the world they end up with enormous security problems - muggings, kidnappings, crime of all kinds, homelessness. Compare that with countries where the wealth distribution is more even like the Scandinavian countries. Low crime. Opportunity.
No its not world wide. Its west wide
This will never change,the world is obssesed by money. Most young Poor people will sell their souls for wealth. The problem with money is that we have been forced into using it.
Sweden is now one of the most violent countries in europe now, but thats due to certain immigration demographics.
It's Neoliberalism and Western "harmonization of trade." I think it's funny that when they did this in the 19th century, the economics was called Liberalism. The world of Dickens is to Liberalism as our world is to Neo-Liberalism
@@Tezzmeuster If young people become obsessed with money it's because they live in a society obsessed with money. But it doesn't have to be like that. I know a lot of amazing, caring young people who are not like that at all. People become obsessed with money because of fear and pain. We can help them to be happy with themselves.
The neoliberal economic model was adopted all over the world over the last 45 years. Most capital, technology and skilled jobs were exported to the cheapest sources of production. A permanent underclass has appeared with generations under one roof who are unemployed, unskilled, poorly educated with poor health care, broken public services, inadequate pensions, low wages and a dire shortage of affordable housing.
Yep. It was a deliberate policy all underpinned by a quasi-plausible harsh-but-fair free market narrative that enough people believed in partly because it often appealed to their own (short term) interests.
uk more left today not right
@@coopsnz1 A case could possibly be made that is culturally, but certainly not economically. The debt mongers now reign supreme to the point where even a takeaway pizza can be bought in installments with potential interest attached. Don't confuse increasing debt excess and record higher taxation with 'the Left'. Go back to the supposedly 'miserable' 1970s if you want to see how much debt there was in the UK, particularly public debt in relation to GDP. Making money from debt creation with interest attached is more than ever the name of the game now and only the wealthier sections of society can afford to play it whilst the poorer sections are forced to endure its deleterious consequences and pay for it.
Someone doesn't know their arse from their elbow. @coopsnz1
@@markbailey5393 less home owership because that what socialism policy causes , end goal communism no one own a home
The full video is brilliant, very intelligent man
😂
he sounds like a crack addict
He literally said nothing 😂😂 "Oliver f*cking Twist" yeah right genius 😂😂😂😂😂
And a hypocrite
@@tomjones8715 ahahha, he quit when he realised what he was doing. you missed the point of the video
This mega rich are content with this being the future of the UK🇬🇧
Let's see how content they are when the poor start breaking into their houses to steal all of their things on a weekly basis
@@aidenfielding9709That already happens in London...
That’s such a wrong way to be thinking. They need customers to sell to so why would they want them poor?
@@chazprouk The mega rich in my area are all these fancy lot with their degrees who are drs and lawyers etc. All need to pay a lot more taxes!
@@slapjuice Trying to get more taxes from the wealthy will never work - ever! You're chasing unicorns. The super wealthy will simply move somewhere else.
This man is the cleverest economist around. He is extremely perspicacious. And one of the things that is so good about Gary is that he is fearless in saying what needs to be said. More power to this man. We should all support him; we should all listen to what he has to say. 👍🏻
Yeah he makes Milton Friedman look like a novice 😂
Far from it. He says the same thing over and over. "Inequality, inequality...". We all know there's inequality mate! He's never given any reasons for it, or any solutions. Sick of him tbh.
@@paul_e123 Gary has given reasons for it. The main reason, according to Gary (and it is also what I have been saying for a long time too) is that our politicians are refusing to tax the rich and the superrich. In other words, there needs to be some redistribution of wealth. The superrich need to be stopped from stripping wealth from the middle and lower classes. That should have been self-evident from this video alone! Personally, I applaud Gary for having the courage to say these things.
@@microfarming8583 Milton Friedman is long since dead. When I say that Gary is one of the cleverest economists around, I am talking of the economists around today. But, for your information, I studied economics back in the day and Milton Friedman was my hero (at that time). I was very into the Chicago School of Economics. But hindsight is 20/20 vision, so now I can see the damage his extreme right-wing economic theories have done to this economy, especially through Thatcherism.
@@xelakram oh yeah now that you put it like that, Gary is a true genius! I never would have thought to tax the rich!
People are connecting these things. My father connected these things 50+ years ago, taught me what was happening, and would happen, and he was right. The majority are simply too stupid to see it or too scared to do anything about it.
What did you and your father do after realizing this half a century ago? Curious to hear how regular people are taking action to protect themselves against this.🤔
That's not fair, it's not that people are too stupid to see, but rather that they are too busy trying to survive to even try and make that connection
@AnonyMous-xv4ig no, some people are too stupid. People may not like the term stupid, but it is a simple fact that many of us are unable to see past the illusions we have been presented. This is fairly obvious when you look at how many people believe the news propaganda machine informs them or the crooks we call politicians serve them when they clearly serve themselves. You can call these people whatever you want, but they simply lack the mental capacity to process and see past the lies. AKA: Stupid.
@victormutta1115 my father spent most his life trying to build local community and speaking out against unchecked authority. I have done my best to learn the lessons he taught me, because he did accurately foresee where we are currently. And I do my best to be self-sufficient and support my friends to be the same. We are all going to have to depend on one another soon enough. I think the simplest thing we can all do is build up our local communities and make parallel local institutions that will see us through the pending collapse.
To allow house prices to explode and allow interest rates to be so low for so long was criminal.
The reason that was allowed to happen was because it was the formula to win elections ever since the 1980s. Every election won by an incumbent government was won because house prices were rising.
Well said Gary, loved your book
We can't vote our way out of this. Starmer and Sunak are just different wings of the same bird. The electorate can choose the flightpath but the destination is already predetermined
Very well said. Different wings of the same bird is the perfect analogy
Greens exist what is wrong with you
@@KlungeMasterJayno. It's incorrect because both parties are right wing.
kzhead.info/channel/PLDGgx5xDVBylwy4F1ftFr5uvgjPOIjOaN.html
@@humanwithaplaylist okay 🤣 Starmer is Labour and Labour sits centre-left of the political spectrum so shut up and learn before you open your mouth.
In 1989 top CEO pay was ~45 x the average wage. It now stands at ~109. Why ?
Compensate for inflation
@@CabinetFramingUK The average wage already does that. It's the increase in the multiplier that's unexplainable, well, by anything other than sheer greed imho.
@@Haawser the government greedy ceo get there salaries from franchsie & shareholders
Greed
It's already happening! In the Victoria times, sanitation workers became disgruntled about low pay. So they would leave the sewers untreated and allow sewage to overflow. It would then leak into the water pipes that people use for drinking and everyday activities. Thus, leading to sickness and outbreak of diseases. Now today, you have boroughs like Tower Hamlets that are underfunded and can't provide efficient services like refuse collection. So the workers can go on strike for a whole two weeks. Tower Hamlets already has one of the highest rates of homelessness in London. When you combine that with open exposure to trash left out in the streets, toppled with an underserved NHS, do not be surprised when they start reporting outbreaks of a plague near you.
the Victorian age was amazing for the UK and Empire? We also had no immigrants... what's the complaint about
Victorian age was only good for the rich, you are probably one of those selfish rich people with crazy political ideas
We're nowhere near Victorian times.
The country was far less wealthy overall in Victorian times. Most people were poor. There are a lot of rich people now and some super rich. We could easily erase poverty now, but deliberate policies keep many poor so the rich keep getting richer.
@@Coneman3 so that means times today are really good and people complain for no reason? so what are these good old days everyone refers too?
Spot on. The system is so broken, voting can't fix it.
Democracy is the only solution you have, you only get to vote for a dictator once
That’s definitely the case when we only have two cheeks of the same arse to choose from.
This is the thing with Democracy , things will happen you don't like
@@whitewittockif only it was actually democracy. Even local politicians partake in menacing and retaliating when opponents try to take their spot. They use the local police force and harass the ones that actually want to help. Another win for police I guess. The confirmation of their status as seperate from the people.
He made his money breaking the system he's saying is broken , should stick his soppy wolly hat on so it's obvious what a cunning stunt he is
We need to listen to Gary and vote all of these self interested oligarch MPs out of our parliament.
Vote for who, though?
@brainbane8550 research your candidates. Find out about their previous experience and activities
@@LindaSmith-cm1bp There are no candidates of nationwide political parties who are going to represent anyone but the self interested oligarchs. Voting doesn't work. You can't just say "we need to vote out such and such", because that kind of disorganised, chaotic individualististic thinking leads nowhere. What we need is an organised, militant, marxist leninist movement. I encourage people to not wet their pants at the sight of the word "marxist", but instead read books written bely Marx, Engels and Lenin and then think about what actions must be taken to divert us from this disastrous, capitalist, individualistic path we're currently on.
Voting ain't gonna do anything
My reply was removed. Interesting how that happens whenever I mention certain left wing solutions to the capitalist challenges we face.
Were waiting for your portfolio reveal and give us some stock tips while your at it. I see the UK today as like a zoo of people while a giant hoover sucks all the money away to places like Monaco, Luxembourg and the British Virgin Islands. ‘Just tell the minions to call Samaritans if there in distress.’
Go for it Gary !!🌸
Great stuff, thanks again!
Everyone can diagnose this problem but no one wants to address why wages have been repressed to the benefit of the elite and who is politically supporting that system
There's also the question of whether there really is enough to rebalance, and if there is, not to triggering ecological failures.
The chess analogy was pretty enlightening i have to say
Wealth inequality is also stupid and halts progress. Disproportionately the worst and most sub par people thrive.
Neo-Dickensian economics, new-Dickensian conditions
This guy literally said nothing. He just threw out "inequality" like it made his argument for him. Government debt has exploded - correct. It's spent on healthcare and welfare in the absolute largest part, then followed ridiculously by servicing the cost of that debt. But I can guarantee this guy doesn't want to cut spending one bit, certainly not on healthcare or welfare. The people who throw out "tax the rich" like it would be possible to run an economy with huge spending like the UK, without just taking the middle class like those countries who spend more than the UK is just delusional. Silliness. Pointless. Stop giving people like this a platform, they offer absolutely no real solutions to anything.
100 percent. People love to hear that those doing better than them are the villain and the root of their problems. There solution is to expand the government and make everyone equally worse.
They will learn quicker once the poor will lose their last trousers. Nothing better for motivatiom than desperation!
Those are my thoughts exactly. Why did the debt explode, Gary?
I love when British people say Oliver F*cking Twist
Historically speaking, wealth inequalities lead to revolutions when things weren't livable anymore.
Absolutely
guess why theyre investing in surveillance technology and policing?
Yes - it is wealth inequality.
The important thing is also that the richest pay less taxes comparing to previous years.
If $1 is spent every second($84K daily) it will take: $1 million = 11.5 days $1 billion = 32 years The rich live off ‘passive income’ from the labor of the working class. We are the many, they are the few. 😂
Uk is doomed
He’s pointing out the obvious. But any politician who tried to redistribute power and wealth would be ridiculed and vilified. Look what happened to Tony Benn and Jeremy Corbyn when they got near or to the leadership of a major political party
Corbyn was unelectable on foreign policy. He wanted to scrap Trident.
Where are the trillions the workers have paid the socialist welfare state for their old age? Gary won't discuss that because he'd have to admit that the welfare state has looted the wealth and caused the inequality.
Doesn’t mean he shouldn’t try. People are waking up more and more and if you keep applying pressure at some point something got to give.
Redistribute wealth. OK, where are the trillions the workers have paid the socialist welfare state for their old age? Ah, all redistributed. No wonder Benn use tax avoidance on his wealth.
@@timwoodger7896 As long as the Brits keep voting for the 2-party system, nothing will change, the problem will only get worse.
Everything he is describing has already happened in America and in the space of 3-1/2 years.
I have always said that we are going back to the Dickensian era. Working till you drop, no money to survive, no free medical care, it's like a 3rd world situation but worse. We need to get some of that wealth guys. Sadly it will go over lots of head, as they haven't a clue how to grasp the wealth for themselves, or they are scared of finance.
I've heard of Brits talking about 1000 ways of taking what someone else has but not 1 way of making yourself more useful and being compensated for that
I don’t understand, didn’t that era and generation do great things and build a better world? The world that we are living in today?
@SamarGancha but whatbabout when you're more useful as a corpse to the elite elite?
I'm sure they will. They could grind our bones down to use in various products, or do the usual, charge tons of money to cremate or bury you. 🤣😵💫@@PickledPianoKY99
Gary….. Please get someone to make a list of candidates in the next elections who would push action to tax the super rich….. and then publish it on youtube
If profit can be made from catastrophes then don't be surprised when catastrophes get repeated.
Forget about GDP per capita, the main measure of a healthy economy should be wealth per wealth distribution.
SO the workers have paid the welfare state trilions of pounds. Real wealth. Where's that wealth?
gini coefficient
@@itim777 legend! Thanks for that.
How many food banks are running out of food FFS with the numbers of people relying on them?
Where can I find the full video of this interview?
Lad bible channel
It also seems like the ultra wealthy have got used to the extravagance and an entire industry has been built to entertain them; bugattis, private jets, private islands etc etc. So theyre not going to ever have enough and wont give it up without a fight. Taking back utilities would be a good start.
Birmingham, the second largest city in the UK.... bankrupt today...
Brexit and the promise of being better off..... What happened to that whopper.
Have another look and you'll see that the EU isn't doing any better than the UK. I'm many cases most EU members are worse off.
I've got a hole in my boot when can we expect the cheaper shoes mogg promised ....
It’s a bit strange that this is happening in a full blown democracy isn’t it? In the Victorian era that wasn’t the case and I believe it’s never been the case that this inequality has existed in a democracy. Why does it persist?
because the ruling class misleads the masses and divides them by blaming immigrants. and people fall for it.
We have them surrounded, follow the money, publish names and addresses of their offices, never let them get a wink of good sleep, we have nothing to lose anymore
We already ar in Dickens type of poverty, I know people in London paying 800 for a crap tiny room with dirty flatmates and disgusting kitchen and toilet.
Yep, been there, done that. Got out during Covid and I’m never going back.
And no one apart from Gary stands up for it.
“Where there is profit, there is deficit” Russel Brand.
If you import millions of people into the country , that will depebd of Gov assistance for the entire life.. that is when the proverbial hits the fan.
You are a realist. Refreshing.
Nothing that hasn't been said over and over since the industrial revolution. And yet, the trend for the working class is massively improved living standards during that same period.
the problem is not inequality, its about a lack of middle class jobs - it nothing to do with millionaires becoming richer, it about the UK not having enough competitive industries
100% agree with this chap.
GS absolutely smashing it! Cmon, son. Give Galloway a call.
The reason why there is a growth in millionaires is because our fiat currency is falling against assets. One ounce of gold May 2004 was £214.57. Today 13th May 2024 it is £1860.32. Gold hasn't really gone up, but our currency is falling in value due to inflation.
As someone said, ‘Britain is a poor country with a few rich people living in it’.
When 1% of the population own 99% of the wealth, it puts everything into perspective
This guys a genius. People have known the economic system is corrupt for decades, but we are too far gone in its current form for it to be successfully changed for all people without it collapsing. The genius bit is that this guy made millions from this corruption, then is making millions more from telling you about it and pretending he’s spouting something new 😂. Absolute marketing genius.
I started reading Gary’s book. Only the first chapter. Interesting lad I have to say.
The problem is British middle classes and many workers in the working classes are overawed by wealth and the market system and somehow believe the rich deserve to take in the profits and rents.
People need to complain less and work more. There ismt wealth inequality, there a difference between people who want to work hard and succeed, and people who expect to be handed everything. My dad is from Aberdeen, in a scheme that used to be called "Little Bosnia" because it was so run down. He got a job in a burger van and then saved up enough money to build his own one. Took him 8 year to save up and build it. And he learned how to do wood and metal work in books. He built his own, sold it, used the money to build a further 2 and then so on, hes a multimillionaire now. Anyone can become the same if they apply themselves
its true but somehow no one ever mentions the FIAT currency system which favors and enables the flow from poor to rich.
No, we've connected these two things. People have seen this for many years.
From mobile home to the middle classes not possible today. This is the story of my family who worked have and rode the asset wave. Impossible now. The average person on the average salary is struggling. What’s more, government schemes like universal credit help to buy are perpetuating the circle of sadness by subsidising corp profits and pushing up asset prices respectively. As a doctor is see the impact of Our society’s decline on a daily bases.
One thing I think this man has got wrong is that everyone is getting poorer but the rich are getting poorer relatively slowly. The reality is that only 1/8 of the world lives a first world life. The other 7/8s live on about 3% of the first world. This makes their labour cheap and competitive. As the first world attempts to maintain living standards government is borrowing more money effectively printing it and causing inflation. The inflation drops the living standards of the poor but makes the rich appear richer as their assets reprice.
Love ya Gary; hate shorts. Can't rewind, can't see how long a video is, can't see where you are in it ... taking functionality and user control away to produce a mindless and endless flow. Just my opinion. Please don't do shorts.
I would recommend one reads “Life at the bottom” by Theodore Dalrymple. We live in the greatest age of material wealth ever with people standing in queues at food banks in the UK while scrolling on a £1000 phone, wearing £200 training shoes & a £200 coat. The solutions that should be sought are inside each individual & how one rationalises Being. Most people need to take more responsibility & accountability. Don’t look to blame others. By all historical accounts one couldn’t have turned up at a better time, make the most of it. Love you all.
Control the money supply.. do not put up taxes! Which will disproportionately disaffect the vulnerable! Labour always tax and it will destroy an already destroyed country
Don’t most people connect these things?!
Can't fix anything until you fix inflation. Can't fix inflation until you turn off the money printers. Can't turn off the money printers until you abandon fiat
Tax the rich. Their children will financially benefit from the social stability those taxes support.
no they wont , cost of living will go up , you tax one side more they pass cost onto consumers
Taxes & wages are the problem
It’s never been easier to buy a super yacht. It’s never been harder to buy your own home.
We are our worst enemies and, to a certain extent, making it happen. However, I do blame the government, too, with their insistence on making commerce almost impossible for the ordinary person. Most businesses are taxed out of existence within 2 years of trading, you spend too much on stock, and then you can't pay your first 20% corporation tax bill. Yet all you have tried to do is build up inventory to keep your business interesting for customers. No commerce for ordinary people means all our spending goes to the multi nationals. We are all guilty of spending in Tesco, etc, and Amazon. We all need to start spending in independent stores and supporting start-ups and paying in cash again. Start thinking local and keeping your wages local and watch as high streets start filling up with ordinary people starting their own business and that ordinary person could be you selling products to local people and then getting busy enough to employ a local person.
Franchise are aswell ,this moron thinks corporation own majorty of business,??? When it less than 10%
This guy is right buying a house it out of reach for most people these days
Influencers , tiktokers , youtubers , football players new millionaires that dont bring absolutely nothing to the economy
I really like your videos, but I have to ask, how do you feel having made so much money off the back of bets seeing real people suffer in increased poverty? Do you feel bad in any way? Or is this channel your means of 'giving back'? Let's be honest while you talk like Robin Hood, you have more in common with those at the top of the food chain.... I dont want this to come across as acusatory, your videos are a breath of fresh air in this economic climate.
He has no pension though he only worked few years. After 30 years your pension is greater than his current account.
Already there brother
We've had 25 years of New Labour policies and everybody except the rich are getting poorer which is typical of any socialist economy.
Housing is already unaffordable.
But what can i do about it? You are right and its sad
Agree inequality is getting worse but not sure we can compare this to the levels of poverty in the past. On a global context things are much better for a large majority of people. I would pick to live now over any previous scenario in the past where basic things such as heating are taken for granted. The baseline for poverty has just shifted. Need to also be aware that most people who are critics of the super wealthy would act in a similar way if they were given the opportunity to
Imagine raking a yard to make one spot the prettiest. But the rest of it was destroyed and left to weeds. You know what happens? It becomes a spot surrounded by weeds, with encroachment coming from them. Crude example of a simple concept: The economy doesn't work without a community. You cant eat gold.
The solution for many is we need the government to fix this. But it was the government caused all this in the first place.
It's absolutely mental that we tax income from work higher than income from wealth.
Housing already is unaffordable….
It's not just uk. It's a global problem
Corbyn would helped with inequality but people thought he was too radical. We now see extreme poverty, sewage spills every week, trains services are terrible, bus services the same, and and and... Feel like we have missed that opportunity, got kier who is just a watered down version of hyper neo liberalism.
Is it me or do I just hear statements and no tangible solutions?
Wealth inequality is the very foundation of all economic activity ... BUT ... if it's gets too great then the wealth generation stops because more and more of the money settles into fewer and fewer hands. Money is the oil of the economic engine and to do its job it has to flow, it has to circulate to lubricate. If it does not do that, which is what happens when too few people have enough of it, the economic engine seizes up and, in the end, everyone is worse off.
The Netherlands: same problem…
People are connecting the dots but we have no power to deal with it and our political system is gatekeeping to protect the rich.
Politicians are the unofficial union of big business. Thats what donations to individual politicians or political parties are for.
Seriously now what are we gunner do ? Genuine question
Government is the problem, not the super rich.
"Away from the government." That what he's worried about? Not the working class, or the middle class - the government?
Some people were warning about this at the last two general elections..
Like monopoly at the end 1 person holds everything
Couldn't agree more.
Start asking who owns the Bank of England
I moved to UK to escape from poverty. I am working on moving away again.