Garys Economics

Alright everyone. Last video. I did this one totally unscripted so I forgot a few important things and then I wrote a really long description to fill that all in and YT told me it was too long 😫 so here's the important points.1 - THANKS. To everyone - to all of you who watch and share, to Oscar, Jack, Tom, Hattie who work on the channel. To the Patreons who work on all this. To Rebecca Gowland and PMUK and Faiza Shaheen and TJUK and Gabriel Zucman and his team and everyone who works on/supports this.2 - BURNHAM. I know we are pausing the channel now for a long time but I'll make an exception for you (or maybe even your chancellor). We all want you to succeed.3. FUTURE PLANS. Channel is down for now, but not forever. I'm working on some other cool stuff too which will come out at some point. I'll be here as long as the economy keeps collapsing, after that I turn this into a Japanese Language learning channel. 心配しないで。諦めないで。4. PATREON. Special big thanks to all Patreon people. This wouldn't be possible without you. Fuller Post and Q+A on there this week with more details.5. OTHER CREATORS. While I'm away check out:BarrysEconomics LouisaMuchTheory (IG)JimmyTheGiantAnna BoccaForest Jar (IG)Pissed Magistus (IG)Unlearning EconomicsTom NicholasHyphen (punk artist)6. WHAT ELSE CAN U DO. Understand the concepts and share the videos goddamit. We need more middle class professionals in powerful areas. Become an economist, a politician, a journalist, a central banker. Join your favourite political party and push them on wealth taxes. Don't ask me what to do, just do something small every week. If that's not working, try something else.7. MENTAL HEALTH. Dont panic. stay strong. drink water. cook healthy meals. try to sleep if you can. talk to your friends. talk to anyone. be there for each other!! Stay strong and take care of each other. Learn and understand what is happening. Share that understanding with others. We don't all get to live in times that are simple, but we do all get to change the world together. They fight us because we are winning. And because they are jealous of how cool we are.The world is ours.Good luckGary xxCHAPTERS(00:00) Intro(02:15) Why I quit Citibank(05:28) Time at a lefty think tank(09:49) Activism, media or academia?(12:42) At Oxford(18:26) Nearly joined Novara Media(19:31) Covid + started trading again(23:16) Writing and selling The Trading Game(27:09) Liz Truss crisis(29:48) The Trading Game at #1 was mental(33:20) Making the documentary(39:34) I’ve given everything I can(40:40) What happens next?(42:46) The richest will fight this(44:21) I can’t win this by myself(46:36) Educate and help others

More and more of what you pay in tax goes on government debt interest, rather than funding public services. As this national debt grows, taxes on working people will increase even further –and public services will continue to get worse. How do we stop this? Help us tax wealth not work: join our Patreon.Chapters(00:00) Intro(01:59) Low or high taxes? (03:08) Government wealth(07:08) Why your public services suck(16:44) How to understand economic crises (21:45) If you lose your wealth(25:55) Why we are WINNING this(30:57) You can do something

TV and radio debates about wealth taxes usually get derailed by fear mongering and terrible statistics – often from people who are paid to defend the ultra rich. What would an honest debate about wealth inequality and taxing the rich more actually look like?LINKSMy Channel4 Documentary here.The Big Issue edition here.My website that explains What is Wealth and Inequality here.Video series: What is Wealth? here.Johnny Harris 'Oligarchy' video here.My Gabriel Zucman interview here.My video when Trump came in here.Interview with Krishnan Guru-Murthy last year here.CHAPTERS(00:00) Intro(03:33) How to discuss the wealth tax(05:04) What is wealth?(05:51) Is wealth inequality growing?(13:30) How does inequality affect the economy?(16:59) Should you care?(22:02) Why the media is so frustrating(24:28) Do we need a wealth tax?(26:03) Why some people dislike wealth taxes(28:14) How do you tax wealth more?(34:06) What are the real problems with wealth taxes?(36:35) We ALREADY value rich people’s assets(38:35) Wealth taxes bad for innovation?(39:40) It will take a long time to set up(40:18) If you tax them they will leave(43:11) Will foreign investment decline?(45:49) UPDATE What is next for me and this channel?

Weds 8 July 9pm: when my new documentary will air on Channel 4 in the UK. We'll also put it out on this Youtube channel from Sunday 12 July. x

The UK and other governments owe a huge amount of debt, mostly to the rich, known as bonds. Changes in interest rates on these bonds can cause economic and political crises, as happened with Liz Truss. Gary explains how to understand these bond markets – and whether we can take back control from them.

If unstopped, the trillionaires will eventually have no choice but to take everything from you, your children and your grandchildren. Here's how it happens (and how to stop them).TAX WEALTH NOT WORK tshirt: https://shop.garyseconomics.org/CHAPTERS(00:00) Intro(00:21) What is a trillion?(03:03) What does Musk own?(06:56) Should you be worried?(13:00) They will own everything(16:27) Victorian levels of poverty will return(18:17) Do you want your kids to own things?(21:08) Is this a new feudalism?(26:31) You will lose to the trillionaires(28:33) Colonialism and the Industrial Revolution(34:35) Tax wealth not work(36:21) My predictions came true(38:45) What are you going to do?(43:32) More in common with each other than with Elon Musk 

The intelligentsia are going all-in against wealth taxes. Are they just trying to mislead us, or do they have valid criticisms? Get TAX WEALTH NOT WORK t-shirt and stickers – https://shop.garyseconomics.org/CHAPTERS(00:00) Intro(00:55) Are we a meritocracy or an inheritocracy?(06:53) Inheritance tax vs wealth tax(12:27) Would it deter innovation?(18:52) Taxing the most productive people(21:07) The Economist’s integrity(22:21) What our intellectual elites think(25:40) Confused or misleading?(27:30) They are trying to distract you(28:42) Why journalists bat for billionaires(30:26) If you have less than £10m listen to this(34:47) Wealth taxes are NOT far-left(36:56) We need the intellectual classes(38:45) They are scared we’re going to WIN 

Are we about to get a new Prime Minister in the UK? The change in leadership may be the best chance we've ever had of winning wealth taxes in this country. And it could be a blueprint for other countries around the world.Chapters(00:00) Intro(00:36) UK situation(02:18) Who will be the new Prime Minister in the UK?(03:41) A poisoned chalice?(07:57) Strong position to get wealth taxes(11:13) I will back Labour if they do this(15:45) Adopting our political framing(22:01) Would Andy Burnham really be different?(25:11) The markets refuse to lend the UK anymore(28:09) What happens if we DO get wealth taxes?(31:01) We need to tackle long-term problems(34:13) MY PREDICTIONS(34:57) The progress we’ve made

The world's fourth richest wants your taxes cut to 0. Why did he say this last week – and should we believe him?T-SHIRT: get the Tax Wealth Not Work t-shirt https://shop.garyseconomics.org/ Chapters(00:00) Intro(02:43) Why Bezos wants lower tax(06:34) His real argument(09:12) How they distract you(12:51) They think you’re stupid(14:04) Tax wealth not work(16:59) “Everyone hates government”(21:45) Blaming politicians(23:50) The broader context(26:04) How billionaires are making you poorer(28:37) The 5 Whys(32:44) What progress have we made?

Gabriel Zucman is the most important economist in the world today. And the one billionaires fear most. His wealth tax proposals have passed France's lower chamber of parliament – and will likely be signed into law in the coming years. Here's his advice for how we can tax the super rich more in the UK and other countries.CHAPTERS(00:00) Intro(02:57) Who is Gabriel Zucman?(07:14) Why universities ignore inequality(14:05) What is the problem?(20:12) How we tax billionaires more(26:51) Gabriel’s billionaire tax in France(27:46) Learn from taxes in past(30:14) The current situation is radical(33:29) Wealth is concentrating at the top(39:07) How the UK can adopt this tax(46:02) Message to The Rest is Politics(50:12) Final message

Parties like Reform have a clear message on why living standards are collapsing. And this is why they're growing. If you want to stop them you have to reverse falling living standards.Chapters(00:00) Intro(02:21) Falling living standards are driving this(07:38) What’s happening in the UK?(09:19) Left and Centre need to unite(15:41) This is the last chance(17:14) You need to act now(21:25) Learn to communicate(26:11) Do not look down on the public(31:52) Hatred will destroy us(35:00) Message to Reform supporters(38:57) Hope

Global stock markets are at all time highs. Gold has doubled and silver tripled in the last two years alone. What's behind these moves? Shouldn't economic crises like Iran be pushing asset prices down? Is now a good time to invest?(00:00) Intro(01:34) Global asset prices(03:45) How 2008 crisis pushed prices up(09:00) Do interest rates matter?(10:24) What COVID did(13:00) WHY asset prices go up(18:27) Crises push up asset prices(20:18) How should YOU react?(23:07) A distribution crisis(27:49) Will asset prices KEEP going up?

Elections in the UK this week may change everything. With prediction markets saying Labour are facing wipeout, is Sir Keir Starmer about to resign? Who will take over? And what does that mean for the next general election? Gary sets out his predictions for the next week, year and 10 years in British politics. Help us get a lobbyist: join our Patreon or make a one-off donation.Chapters(00:00) Intro(02:47) Will Starmer go?(09:09) WHO you should vote for(10:22) Scotland and Wales(11:34) The next UK Prime Minister?(16:44) Best way to get wealth taxes(21:16) What I predict will happen (35:30) What you can do

Help build our political power by supporting us on Patreon – https://patreon.com/garyseconomicsWill AI make us all richer and more productive, or steal our jobs and impoverish us? The Industrial Revolution gives us clues about what could be about to happen.(00:00) Intro(04:58) Will AI decrease wages?(06:19) Will AI increase wages?(13:00) Luddites (16:17) The Industrial Revolution(24:50) Who profited?(26:51) Workers became powerful(31:12) Why customers matter(36:03) Henry Ford’s dilemma (39:55) Who benefits from increased productivity(43:32) Will AI liberate us?(45:57) Why I am positive about the future(51:19) How we can WIN

Help us grow this channel by joining our Patreon – https://patreon.com/garyseconomicsThe elite think my economic analysis is wrong. They say wealth taxes are not the solution – and growing inequality isn't the biggest problem we face. But are they right? And have I been wrong the whole time?Chapters(00:00) Intro(01:12) What Rory Stewart said about me(04:04) Why people attack me(07:24) Who is allowed to talk about economics?(24:45) Zack Polanski and the Greens(31:30) Attack on wealth taxes(41:45) Out of touch elite?(46:50) Gatekeeping(51:20) Judge me on my predictions(54:03) What do we do?(59:30) Why social media matters(1:03:04) Help us grow(1:05:21) Rory Stewart’s book is actually really good

UK and European politics have been dominated by centrist parties for hundreds of years. This is now changing rapidly. A recent election in Manchester shows us what might be about to happen across the UK, Europe and the rest of the world.Chapters(00:00) Intro(01:36) Betting market predictions(15:40) Who is going to win the next UK election?(17:31) 200 years of British politics is over(20:20) This is happening all over the world(24:19) Why have people abandoned the centre parties?(27:24) Manchester by-election(34:38) The Green Party surge(42:15) Centrists don't see wealth inequality(50:29) What is my strategy to win?(54:38) Labour will lose if they keep ignoring us

A massive energy crisis is heading our way from Iran and the Gulf. What can the government do to protect us? Can you do anything to protect yourself? Gary unpacks the economic consequences of the war.CHAPTERS (00:00) Intro(00:59) The basics(01:56) Interest rates(03:42) Government borrowing(04:59) What it means for you(06:01) How to you protect yourself(13:05) What can the government do?(17:25) Drilling in the North Sea(19:24) How to trade in this crisis(22:47) Increase your resources(27:40) Crises in the UK(30:05) War and inequality(34:45) How wealth is being taken from you(38:05) War, information and manipulation(40:35) We CAN change things

Understanding the past can help you shape the future. In the Victorian era technological innovation created massive new wealth, but it was concentrated in the hands of the few. Can we change things NOW to avoid the same desperate poverty most Victorians lived and died in?JOIN OUR PATREONGET MERCH –––––––––What I talk about in this episode:(00:00) Intro(01:50) Ghosts of Christmas Past(06:00) Technology may not fix our problems(09:20) History shows us change is possible(13:10) Christmas Present: where are we now?(20:45) Desperation for change(22:09) The future

Gary's back for one episode only. Here's what the UK Budget next week means for you, the economy and democracy.CHAPTERS(00:00) Intro(1:04) Raising taxes(04:30) UK government debt situation(09:12) Transfer of wealth to rich(13:22) Why aren’t they taxing the rich?(18:40) The elites don’t care(26:00) The death of democracy(28:32) What do you do?(31:15) Hope(33:08) Know your history(36:41) Help me get to #1

I'm wrapping things up for now. I'll be back in a few months.These are the other channels and orgs I think you should follow:Patriotic Millionaires UK's X Bold Politics with Zack Polanski's YoutubeJimmyTheGiant's Youtube Meditations of an Anxious Mind's YoutubeForest Jar's Insta Anna Bocca's YoutubeBarry's Economics's YoutubeLouisa Munch's TiktokNovara Media's YoutubeUnlearning Economics's YoutubePunters Politics's YoutubeChloe Swarbrick's Insta Ha Joon Chang's Website👕 GET THE T-SHIRT on our shop.–––––––––––CHAPTERS(00:00) Intro (00:24) Why I’m stopping(03:08) My predictions(04:34) The rise of anti-immigrant rhetoric(07:28) We’ve had massive growth(10:08) Who you should follow(13:45) Why this is important(15:23) What’s next?

Labour refuse to acknowledge and deal with the rising tide of inequality in the UK. Will this doom them to fail, or can we get through to them?👕 TAX WEALTH NOT WORK t-shirt: https://shop.garyseconomics.org/(00:00) Intro (03:20) How they view the world(10:00) Why they won’t listen to me(24:20) They’re stuck in a bubble(26:50) Reform are the reckoning(30:35) Is Labour doomed to fail?(32:12) My message to Labour MPs

Is the Labour government failing to change anything because of bad choices – or because the economic situation makes them powerless to act?👕 TAX WEALTH NOT WORK t-shirt available here: https://shop.garyseconomics.org/––––––––What Gary talks about in this episode:(00:00) Intro(01:13) Labour just unlucky?(04:22) Could they have fixed it?(06:50) Are they incompetent?(08:30) The centre is failing globally(11:14) They don’t understand economics(13:58) The real problem(18:00) Demand for change is unstoppable(19:20) Collapse of the Roman Empire(20:14) What new idea will win? (25:35) Fascism and poverty(26:15) What do you do?(28:18) My message to the intellectual class(30:23) What is really happening

Is the UK unique in its housing crisis and expanding wealth inequality? How can we win a wealth tax? How do you convince working people to get behind green policies?Gary meets MP and co-leader of the New Zealand Green Party Chlöe Swarbrick. (00:00) Intro(02:01) Who is Chloe Swarbrick?(05:43) New Zealand’s economy(10:00) Wealth inequality in NZ(14:24) Wealth taxes globally(15:35) How do we win?(20:00) The Murdoch strategy(21:50) Chloe’s advice to Gary(25:56) Anti-immigrant politics(29:20) Coal miners and green politics(31:13) How to win public support(34:49) Are you hopeful?

The next four years in British politics will be turbulent. Here is what the markets are predicting. And what I think will happen.(00:00) intro(00:15) What are the odds?(04:15) Is the betting market wrong?(06:20) Trend to populist right(07:49) Labour’s position(09:05) Will Keir Starmer be replaced?(09:42) Labour will rebrand(11:35) How Labour could win(13:35) Labour and immigration (14:23) Can the Conservatives win?(16:39) The Liberal Democrats(17:18) The Greens and Zack Polanski(20:50) How Reform could be defeated (26:35) Centrists: my message to you(28:03) The left: how you can win(32:28) What will happen if Farage wins(36:28) The slide towards extremism(38:28) Reform voters: my message to you

I made millions of pounds betting on economic destruction. Here's how I did it. How you could do it too. But also why it doesn't matter if your aim is to change anything politically.(00:00) Intro(03:14) Trading is economic forecasting(09:30) Being right when others are wrong(15:45) Identify one thing people are wrong about(17:15) Why I love trading(19:03) What good traders do(21:41) I don’t care about your opinion(23:09) Counter-trend trading(25:17) The downsides of trading(28:28) You can’t change things as a trader(30:35) Trading sucks up all the talent(31:58) Is trading economic analysis?(33:30) The worst economists(36:17) Trading is meritocratic(40:00) Why this matters for politics(42:52) Politicians won’t listen to me(44:05) What can we do?(46:40) What I am hopeful about

In times of crisis people are desperate for stories to explain why their lives are getting worse. This is why storytelling is the most important – but most ignored – aspect of politics right now. The far right offer a simple story, repeated over and over: it's the immigrants. The Trumps and Farages of the world are surging on the back of this simple, effective storytelling. What can liberals and the left learn from this? Can we come up with a better story?Chapters(00:00) Intro(03:02) Who decides what is salient or not?(08:29) The importance of storytelling(10:20) People need stories in times of crisis(14:55) The best storytellers take power(17:35) Citizen journalists on social media are powerful(22:29) Tell simple messages(23:22) What our story needs to be(25:22) WHY the far right is winning

We're winning the wealth tax argument in the media: more and more people support the idea. But what would a wealth tax actually look like and would do we implement it? Is it even workable?

The economy is made up of real resources, and the people who produce and own them. Money is different. Money is supposed to represent these real things, but it often fails to. Focusing too much on money – and interest rates and monetary policy – blinds us to how the economy actually works. Gary explains why this is so important if we want to change anything.–––––––––––Support us: we're making progress in our campaign to convince MPs and the public to tax wealth not work. Gary's been meeting MPs, Lords, political influencers, broadcasters and heads of think tanks every week – and momentum is growing behind wealth taxes as we head towards the autumn Budget. We need your help to keep doing this work. Support us on Patreon and you'll also get exclusive access to live Q&As with Gary and early access to content. All donations go to our not-for-profit company. Thanks:https://patreon.com/garyseconomics–––––––––––Chapters(00:00) Intro(01:47) The obsession with interest rates(03:56) How monetary policy failed in 2008(06:05) Know your medieval history(06:55) People confuse money for real resources(07:24) Money printing during COVID(08:20) Why don't we just make more money?(10:21) You need more real resources(11:27) Redistribution of resources(12:46) Money is different for the individual and the state(13:24) Resources are rapidly flowing to the rich–––––––––––Further resources to understand money:'What is money?' https://www.youtube.com/watch?v=_gcNMu40jqs 'Burning money' https://www.youtube.com/watch?v=lYjKycq0CYI'The devaluation of money' https://www.youtube.com/watch?v=So484-4VbxI

Worsening mental health outcomes are often spoken about as if they are the fault of the individual, but is insecure mental health a natural outcome of an insecure economy?And does the feedback work both ways - insecure economies cause people to be scared, easily manipulated, and individualistic, which prevents ordinary people from uniting and fighting back as a class?Also a little on my own historical struggles with the economy and mental health, both in the past and now."In a mad world, only the mad are sane" ~ Akira KurosawaTake care of yourselves and each otherxx(00:00) Introduction (03:31) Mental health is affected by the economy (04:55) Me on Question Time (06:15) Mental health is a symptom of something bigger(09:50) Deteriorating mental health makes political action hard (16:00) More and more people know collapse is coming(20:13) Hard work no longer pays(22:24) Personal struggles(25:09) What can we do?(30:17) Why it's so urgent

The rich will take everything unless we start taxing them more. A wealth tax is the best way to do this. But we need to win over the public, and dispell some of the common pushbacks. Here's how to do it.(00:00) Intro(00:48) Massive oppurtunity(02:29) How to explain my message to your friends and family(02:43) Point 1: Don't be a dick(04:00) People are scared(08:06) Point 2: Understanding and education (16:35) Point 3: How to deal with common pushbacks(19:20) The Laffer Curve(22:43) "It's not fair to tax rich people"(24:20) "You secretly want to tax me more"(25:45) "Don't give money to the government, they'll waste it"(27:40) The core message

The UK government will be forced to raise taxes in October to avoid financial instability. Who they choose to tax at this next Budget will beat a path for other Western governments facing the same problems. Here's what they're planning – and why it could be the beginning of the end for the middle class.Other episodes mentioned by Gary: 'The Squeeze out' AKA Why Labour is crushing your living standards https://open.spotify.com/episode/2yO2SJstjBX2lpW7Jn0AO6?si=b84234841c8b42ca What's in this episode:(00:00) Intro(00:47) Why this year's UK Budget matters(02:10) What they will announce(02:50) Governments going bankrupt(08:25) Do they have other options? (10:48) Tax the rich or tax the middle class(11:15) Rich vs middle class vs working class(12:29) Do not trust the rich(13:13) My message to middle class people(15:04) What I mean by "tax the rich"(16:09) The rich are WINNING

Alt right political movements have proven they take power using social media. Gary walks us through how we can use their rulebook to get what we want in our countries.Chapters:(00:00) Introduction(02:26) Social media's power in politics(05:05) The WWF model(07:01) Economic inequality(08:08) Build a platform(17:49) The power of social content creation(26:12) Use the traditional media(30:36) You have to focus your message(35:00) Be disciplined(37:13) Challenges from elite institutions(41:27) Take a strategic approach(45:43) Balancing advocacy and content creation(48:20) What you can do – and what I'm planning

Why are house prices in the UK so high? Here's how we can make housing affordable for ordinary people again.What I discuss in this episode:(00:00) Intro(01:26) Why every city in the world has a housing crisis(04:00) Understand that housing is an asset like shares, bonds, commodities(07:40) Economists miss why assets are going up11:55 How rich people push up asset prices (and house prices)(14:15) Wages do not control house prices(16:33) Should we just build more housing?(18:33) Inequality is reshaping our cities and creating slums(21:27) Why we can't get growth(24:13) The problem is inequality(25:09) Cutting red tape and Grenfell Tower(26:06) The rich always decide – we need to reduce their wealth

The UK's political and economic situation is grim, caused by growing wealth inequality and mass impoverishment. Gary has one message for the Labour government: a wealth tax could start to reverse the situation – and prevent the collapse of our society. He also has message for anyone tempted to vote for Reform (spoiler: stopping immigration won't fix the problem).In this first episode after a three month break, Gary brings us up to speed on everything that's happened in UK economy – and what we need to achieve in the coming months.Chapters:(00:00) intro(00:40) Wealth taxes are coming(02:41) Economic and political situation(08:12) The death of centrism and far-right doom loop(12:06) My message to the Labour government(15:12) We can win(17:32) It's an international issue(18:50) Gary talks to Reform voters(20:43) Working class vs middle class(22:16) If you are rich listen to this(24:05) What's next on the channel?

In this last video before a break, Gary asks: just how close we are to convincing the government to tax the rich more? And reveals whether he's inviting Labour onto the channel or not. And discusses why the press have been attacking him. And explains where he's going exactly.

The world just went totally mad. Here's what it means.

Ha-Joon Chang is best selling author of '23 Things They Don't Tell You About Capitalism'. If you want to understand how our economic system is failing us, this is the economist to study.

In the past, some countries – like South Korea, Britain and the US – have used tariffs to protect and foster nascent industries, and grow rich from the results. Can America's current experiment with protectionism work out the same way?Full conversation with Ha-Joon Chang out this Sunday.

Behind the dry statistics of the Spring Statement is a bleak reality. The Labour government is doing austerity 2.0 in the UK. Here's why – and what you can do about it.

We've been approached by some Labour MPs who want to come on the channel – should we let them? Let us know in the comments.

The problem is the rich are taking everything – and the rest of us are being impoverished. But what's the solution, and how do we achieve it?

Just let your wealth compound over time and you'll get rich, the advice goes. If true, why aren't more people millionaires?

This one central idea has enabled me to correctly predict the cost of living crisis and collapse in living standards since 2008 – as well as stock market rallies. Part 4 of Gary's Understand the Economy course.

Who actually ends up with that mortgage payment you make every month? Spoiler: it's not the bank.

Starmer (in the UK) and Trump both face the same problem – and neither have a solution.

Gary talks to Jimmy the Giant – and how he realised the far-right have no answers.

A house or a flat is the biggest asset most people will ever own. And prices will go up. But if the rich are taking everything else away, does owning a house really protect you from becoming poor?

Gary talks about what happened when he tried to leave Citibank. What can we learn about how rich and powerful people operate, what they want – and how we can win the game?

Wealth inequality is surging in the UK and around the world. But economists in the media and universities are blind to it, leading to poor and misleading analysis. Why?Part 3 of Gary's Understand the Economy course.

And why he is funding anti-immigrant parties.