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Thanks for posting. 45 minutes in. Really interesting.
It's interesting that he was told to look at the shops closing etc. I was in Asda earlier and noticed a lot of their cheaper stuff was completely sold out. It was really noticeable walking around. Brands on the shelf and the basic stuff sold out. Looks like the cost of living is starting to really bite people.
"Give money to the rich and they'll buy your mum's house." on 21:29 - Mar 1 by J2BLUE
Thanks for posting. 45 minutes in. Really interesting.
It's interesting that he was told to look at the shops closing etc. I was in Asda earlier and noticed a lot of their cheaper stuff was completely sold out. It was really noticeable walking around. Brands on the shelf and the basic stuff sold out. Looks like the cost of living is starting to really bite people.
Any chance of a summary for the time poor?
"They break our legs and tell us to be grateful when they offer us crutches."
"Give money to the rich and they'll buy your mum's house." on 21:49 - Mar 1 by BanksterDebtSlave
Any chance of a summary for the time poor?
Government gave out an average of £12k per person during covid. If you're not £12k richer, someone else has your share. Money went to the rich.
Ukraine war has an impact but it's minor. War convenient for government. Inflation happening now as rich use money they got during covid to buy assets.
If you get a little money and someone else gets a lot you become poorer. You might have more money but there is a total pool of assets. If someone else gets more money and uses it to buy those assets or food etc then your money won't cover the increase. You therefore get poorer.
You need to buy a property. He knows some people can't but there are lots of advantages to doing so. Mentions his parents are not rich but as they own their home they will likely live comfortably for the rest of their lives. He understands taking on a large debt is not great but thinks it is worth it for the benefits and security.
Those are the key points I can remember. I haven't finished it yet. If I think of anymore I will reply again.
"Give money to the rich and they'll buy your mum's house." on 22:01 - Mar 1 by J2BLUE
Government gave out an average of £12k per person during covid. If you're not £12k richer, someone else has your share. Money went to the rich.
Ukraine war has an impact but it's minor. War convenient for government. Inflation happening now as rich use money they got during covid to buy assets.
If you get a little money and someone else gets a lot you become poorer. You might have more money but there is a total pool of assets. If someone else gets more money and uses it to buy those assets or food etc then your money won't cover the increase. You therefore get poorer.
You need to buy a property. He knows some people can't but there are lots of advantages to doing so. Mentions his parents are not rich but as they own their home they will likely live comfortably for the rest of their lives. He understands taking on a large debt is not great but thinks it is worth it for the benefits and security.
Those are the key points I can remember. I haven't finished it yet. If I think of anymore I will reply again.
Crypto is bullsh1t. While you're buying dogecoin they are using your money too buy real assets.
"Capitalism is over". Going back to a feudal system. If you come from the wrong family you probably won't ever get on the housing ladder. The battle to reform society is a battle for survival.
Overall, very interesting. I agreed with most of what he said and will definitely follow his work.
"Give money to the rich and they'll buy your mum's house." on 22:01 - Mar 1 by J2BLUE
Government gave out an average of £12k per person during covid. If you're not £12k richer, someone else has your share. Money went to the rich.
Ukraine war has an impact but it's minor. War convenient for government. Inflation happening now as rich use money they got during covid to buy assets.
If you get a little money and someone else gets a lot you become poorer. You might have more money but there is a total pool of assets. If someone else gets more money and uses it to buy those assets or food etc then your money won't cover the increase. You therefore get poorer.
You need to buy a property. He knows some people can't but there are lots of advantages to doing so. Mentions his parents are not rich but as they own their home they will likely live comfortably for the rest of their lives. He understands taking on a large debt is not great but thinks it is worth it for the benefits and security.
Those are the key points I can remember. I haven't finished it yet. If I think of anymore I will reply again.
That first point is slightly misleading. I got several thousands in payouts from the Government during Covid, but my business income was also several thousands below normal levels due to the pandemic and lockdowns. The money did not go elsewhere, despite me being no better off.
The "war's good business" argument is always considerably flawed. In this case it has pushed up fuel prices, damaged trade (particularly in certain agricultural goods) and is burning resources at a high rate on the battlefield. Money which could be spent on other stuff is being consumed by arms production, stockpiling fuel reserves and dealing with the refugee crisis. War is generally an enormous waste of money.
"Give money to the rich and they'll buy your mum's house." on 09:58 - Mar 2 by Guthrum
That first point is slightly misleading. I got several thousands in payouts from the Government during Covid, but my business income was also several thousands below normal levels due to the pandemic and lockdowns. The money did not go elsewhere, despite me being no better off.
The "war's good business" argument is always considerably flawed. In this case it has pushed up fuel prices, damaged trade (particularly in certain agricultural goods) and is burning resources at a high rate on the battlefield. Money which could be spent on other stuff is being consumed by arms production, stockpiling fuel reserves and dealing with the refugee crisis. War is generally an enormous waste of money.
Also there’s not a credible economic journal that will agree with the view that “global inflation is/was driven by the rich buying assets”.
Whilst the ‘super’ wealthy have indeed been enriched in the post pandemic world, the inflationary factors of commodity prices increasing and supply chain disruption, are well documented and evidenced.
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"Give money to the rich and they'll buy your mum's house." on 10:28 - Mar 2 with 1359 views
"Give money to the rich and they'll buy your mum's house." on 22:23 - Mar 1 by J2BLUE
Crypto is bullsh1t. While you're buying dogecoin they are using your money too buy real assets.
"Capitalism is over". Going back to a feudal system. If you come from the wrong family you probably won't ever get on the housing ladder. The battle to reform society is a battle for survival.
Overall, very interesting. I agreed with most of what he said and will definitely follow his work.
Thanks J2. Pretty much as expected and then there is all the asset buying inflation from the QE money too.
"They break our legs and tell us to be grateful when they offer us crutches."
"Give money to the rich and they'll buy your mum's house." on 10:19 - Mar 2 by SuperKieranMcKenna
Also there’s not a credible economic journal that will agree with the view that “global inflation is/was driven by the rich buying assets”.
Whilst the ‘super’ wealthy have indeed been enriched in the post pandemic world, the inflationary factors of commodity prices increasing and supply chain disruption, are well documented and evidenced.
Somebody needs to tell Mervyn King.
"They break our legs and tell us to be grateful when they offer us crutches."
"Give money to the rich and they'll buy your mum's house." on 09:58 - Mar 2 by Guthrum
That first point is slightly misleading. I got several thousands in payouts from the Government during Covid, but my business income was also several thousands below normal levels due to the pandemic and lockdowns. The money did not go elsewhere, despite me being no better off.
The "war's good business" argument is always considerably flawed. In this case it has pushed up fuel prices, damaged trade (particularly in certain agricultural goods) and is burning resources at a high rate on the battlefield. Money which could be spent on other stuff is being consumed by arms production, stockpiling fuel reserves and dealing with the refugee crisis. War is generally an enormous waste of money.
I was summarising from memory. The first point was more nuanced than i've written there as I couldn't remember his exact explanation.
Agree on second point. He didn't actually say it was good business, just that it gives the government something to blame so it therefore covers up bigger problems in the wider economy.
"Give money to the rich and they'll buy your mum's house." on 11:17 - Mar 2 by J2BLUE
I was summarising from memory. The first point was more nuanced than i've written there as I couldn't remember his exact explanation.
Agree on second point. He didn't actually say it was good business, just that it gives the government something to blame so it therefore covers up bigger problems in the wider economy.
Your second paragraph is true and was why Putin started the war in the first place. Or, at least, to rally domestic support behind him in the run-up to an "election".
"Give money to the rich and they'll buy your mum's house." on 10:19 - Mar 2 by SuperKieranMcKenna
Also there’s not a credible economic journal that will agree with the view that “global inflation is/was driven by the rich buying assets”.
Whilst the ‘super’ wealthy have indeed been enriched in the post pandemic world, the inflationary factors of commodity prices increasing and supply chain disruption, are well documented and evidenced.
"Also there’s not a credible economic journal that will agree with the view that “global inflation is/was driven by the rich buying assets”.
I think that was another point he was making.. There is no credible economic journal.
"Give money to the rich and they'll buy your mum's house." on 13:02 - Mar 2 by BanksterDebtSlave
Those stock buy backs and property price rises don't fund themselves you know.
MOST stock buy backs are funded through capital rather than corporate bond issuance.
Inflation was largely running sub 3pc prior to the pandemic and QE has now been retracted. Where is the evidence “the super rich buying assets are the drivers of global inflation?”
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"Give money to the rich and they'll buy your mum's house." on 18:08 - Mar 2 with 1011 views
"Give money to the rich and they'll buy your mum's house." on 13:10 - Mar 2 by SuperKieranMcKenna
MOST stock buy backs are funded through capital rather than corporate bond issuance.
Inflation was largely running sub 3pc prior to the pandemic and QE has now been retracted. Where is the evidence “the super rich buying assets are the drivers of global inflation?”
Does the money made through issuing corporate bonds not make it into the wider economy then? QE was begun to prevent a deflationary shock so perhaps that 3% is starting from what should have been a negative base line and as per above just because it is being wound down surely doesn't mean that the cash generated isn't still sloshing around looking for a home.
"They break our legs and tell us to be grateful when they offer us crutches."
"Give money to the rich and they'll buy your mum's house." on 13:09 - Mar 2 by noggin
"Also there’s not a credible economic journal that will agree with the view that “global inflation is/was driven by the rich buying assets”.
I think that was another point he was making.. There is no credible economic journal.
Whereas Dave on YouTube…who needs experts eh?
So why did you always point to the economic forecasts suggesting Brexit would damage the UK if they are not credible…can’t have it both ways - tying yourself up in all kinds of knots as usual.
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"Give money to the rich and they'll buy your mum's house." on 18:20 - Mar 2 with 978 views
"Give money to the rich and they'll buy your mum's house." on 18:15 - Mar 2 by SuperKieranMcKenna
Whereas Dave on YouTube…who needs experts eh?
So why did you always point to the economic forecasts suggesting Brexit would damage the UK if they are not credible…can’t have it both ways - tying yourself up in all kinds of knots as usual.
I would recommend watching some of this guy Youtube stuff if you are interested. You can't really judge him without hearing it directly from him. I did not fully agree with what he said on some things but after watching some follow up videos where he goes into things in more detail he's definitely on to something. Not suggesting he is 100% right on everything but he has a interesting perspective.
"Give money to the rich and they'll buy your mum's house." on 18:15 - Mar 2 by SuperKieranMcKenna
Whereas Dave on YouTube…who needs experts eh?
So why did you always point to the economic forecasts suggesting Brexit would damage the UK if they are not credible…can’t have it both ways - tying yourself up in all kinds of knots as usual.
"So why did you always point to the economic forecasts suggesting Brexit would damage the UK"
Did I?
And where have I given my views on this thread? I simply stated the views of the guy in the video. You seem to be letting him upset you.
"Give money to the rich and they'll buy your mum's house." on 18:08 - Mar 2 by BanksterDebtSlave
Does the money made through issuing corporate bonds not make it into the wider economy then? QE was begun to prevent a deflationary shock so perhaps that 3% is starting from what should have been a negative base line and as per above just because it is being wound down surely doesn't mean that the cash generated isn't still sloshing around looking for a home.
I actually largely agree QE ran its course far too long, largely attempting to mask rhe underlying bad heath of our economy I know it’s a particular interest of yours, timely article today explaining some of the drawbacks of retracting QE and perhaps why they were reluctant to do so:
"Give money to the rich and they'll buy your mum's house." on 09:58 - Mar 2 by Guthrum
That first point is slightly misleading. I got several thousands in payouts from the Government during Covid, but my business income was also several thousands below normal levels due to the pandemic and lockdowns. The money did not go elsewhere, despite me being no better off.
The "war's good business" argument is always considerably flawed. In this case it has pushed up fuel prices, damaged trade (particularly in certain agricultural goods) and is burning resources at a high rate on the battlefield. Money which could be spent on other stuff is being consumed by arms production, stockpiling fuel reserves and dealing with the refugee crisis. War is generally an enormous waste of money.
That's kind of the point though, your money did go elsewhere. That several thousand in payouts from the Government was presumably used to ride out a period where your income was lower than you would've expected. Where's it gone? Rent? Bills? Salaries? It's gone somewhere, it hasn't disappeared out of the system.
"Give money to the rich and they'll buy your mum's house." on 09:19 - Mar 3 by clive_baker
That's kind of the point though, your money did go elsewhere. That several thousand in payouts from the Government was presumably used to ride out a period where your income was lower than you would've expected. Where's it gone? Rent? Bills? Salaries? It's gone somewhere, it hasn't disappeared out of the system.
I want to know where my £12k is?!?!
"They break our legs and tell us to be grateful when they offer us crutches."
"Give money to the rich and they'll buy your mum's house." on 08:08 - Mar 3 by SuperKieranMcKenna
I actually largely agree QE ran its course far too long, largely attempting to mask rhe underlying bad heath of our economy I know it’s a particular interest of yours, timely article today explaining some of the drawbacks of retracting QE and perhaps why they were reluctant to do so:
"Give money to the rich and they'll buy your mum's house." on 09:36 - Mar 3 by BanksterDebtSlave
I want to know where my £12k is?!?!
Further lining the pockets of someone who didn't need it would be my guess. What's worse is much of it will be within an internationally mobile community of people and institutions who will pay naff all tax. That burden will be left to the middle class, who will see their living standards erode as a result.
"Give money to the rich and they'll buy your mum's house." on 09:43 - Mar 3 by clive_baker
Further lining the pockets of someone who didn't need it would be my guess. What's worse is much of it will be within an internationally mobile community of people and institutions who will pay naff all tax. That burden will be left to the middle class, who will see their living standards erode as a result.
Though the middle class were also beneficiaries in that property prices were not only held up my furlough money, but the flight from cities leading to significant price rises in many commuter belt towns. Edited to add the middle class also saved thousands on commuting cost - largely spent (at least in my area on extensions and other home improvements).
It was the working class who slogged through it for a clap.
[Post edited 3 Mar 2023 9:50]
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"Give money to the rich and they'll buy your mum's house." on 10:10 - Mar 3 with 675 views
"Give money to the rich and they'll buy your mum's house." on 09:48 - Mar 3 by SuperKieranMcKenna
Though the middle class were also beneficiaries in that property prices were not only held up my furlough money, but the flight from cities leading to significant price rises in many commuter belt towns. Edited to add the middle class also saved thousands on commuting cost - largely spent (at least in my area on extensions and other home improvements).
It was the working class who slogged through it for a clap.
[Post edited 3 Mar 2023 9:50]
Anything that was "made" or "saved" by working and middle classes will be dwarfed by the cost they will pay in taxes for the rest of their natural lives.
As usual, the wealthy made money hand over fist and will likely not ever pay more than a nominal figure on the gains.
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