Comments by "Bill B" (@billB101) on "Garys Economics" channel.

  1. He's right about LSE and privilege. I worked there for 8 years. I've seen it all. Some of the stupidest rich kids I've ever met and they're the ones going on to work in high powered Jobs. We had a venue there, some of the Student union numpties decided they wanted to run it and got rid of all the full time staff. To cut a long story they wrecked the business in a few months and it cost LSE an absolutely fortune, literally millions in lost trade. One of the managers even sued for wrongful dismissal and won ( that's a story in itself ) And they just walked away from their train wreck. I know though that it'll be on their CV as "transformed the LSE student venue" or some other BS. Just utter incompetence.
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  2. I'm sure the two things are not mutually exclusive
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  3. Labour can't afford to be attacked by the press right now, they're sticking to the script.
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  4.  @irreverend_  It's more the fact that they sold off the existing social housing and just didn't replace it. But that was by design really.
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  5. The more you have the more you compound. The rich can do very well from this. However, as said here, most people can't even afford to save in the UK. Bank rate are below inflation too.
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  6.  @LRSTFJ  They talked about there not being enough female viewers on the channel at one point.
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  7. Identikit town centres in this country. They're all the same.
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  8. Considering the ability to manage your own time is ( to me ) the most valuable commodity out there then yeah, generating a passive income would be great to be honest.
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  9.  @LittlePetieWheat  Just to elaborate a little more: 1. Politics without Principle: Engaging in politics for selfish gain rather than upholding moral principles. 2. Wealth without Work: Accumulating wealth without effort or by exploiting others. 3. Pleasure without Conscience: Seeking pleasure without regard to the consequences or ethical considerations. 4. Knowledge without Character: Acquiring knowledge without developing a strong moral character to guide its use. 5. Commerce without Morality: Engaging in trade or business without concern for the ethical or social impact of one's actions. 6. Science without Humanity: Advancing science or technology without considering its potential harm to humanity. 7. Worship without Sacrifice: Practising religion or spirituality without embodying the values of selflessness and sacrifice.
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  10. He's a very rich child who thinks he's omnipotent. And a dangerous one at that. Just been caught out big time lying about his video gaming skills, which kinda sums him up.
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  11. An unelected billionaire seemingly looking after the interests of the common people. Yeah... right.
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  12. Also worth reading Liam Byrne's Book "The Inequality of Wealth" if you want to get into the nuts and bolts of inequality.
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  13. Residential care has been bought up by asset management companies in a big way in the UK, their purpose is to "streamline" the business ( i.e. cut down the front line care ) whilst maximizing the profit ( i.e. rinsing ) care home residents of their life savings and assets. This is happening all across the UK thus shifting the onus from government provided care to asset management provided care which is basically just shifting more wealth to the rich. You're talking companies like Legal and General here, on the surface they look like they legit care ( buying and building new care homes ) but if you dig a little deeper they're in fact one of Europe's largest asset management companies. As the Americans love to say... Go figure.
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  14. @NaomiOjok Unfortunately the Greens couldn't run a bath.
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  15. It's how you define rich ( in life ) really, it's not all about having tons of money.
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  16.  @bogdiworksV2  Because of the press. You get how malicious the UK press can be don't you? Say something off script and they'll turn it into next weeks narrative.
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  17. I've made money from my 1 bedroom flat in London, I however can't afford to buy a 2 bedroom flat as it'd cost me another £150K. That's the problem, it seems like you've made money but you haven't as everything else has shot up too and non one can else get on the property ladder. It's all relative. And we've seen no real increase in wages in this time. This has been happening since the 90's here though, and nothing was ever done to address it. So here we are.
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  18. I loved Yanis's book, great read.
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  19. Our short-termist political parties won't address that question as it's too far into the future. I agree though this will be a problem down the road.
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  20.  @MalcolmMXTaylor  what Jimmy was describing there and couldn't find a name for was Enshittification. If you want a really good read on Inequality though I highly recommend Liam Byrne's superb book "the inequality of wealth"
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  21.  @garyseconomics  There's always going to be one negative numpty Gary mate. Such is life 😂
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  22. "People think they're going to work their way to those levels of wealth. They're wrong, you can only own your way to that. " Silicon valley would disagree.
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  23. On a personal level there's nothing stopping people investing here. Especially if you're young. Put a small amount of money away each month using an app like trading 212 in say an ETF like Vanguard S&P 500 or FTSE all world fund fund, just keep adding to it and leave it alone. By the time you're 50 ( believe me it'll happen faster than you think ) it'll be a decent nest egg. I wish I'd know this when I was 20 to be honest.
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  24.  @martynclinton8092  I thought this too, but it's an old lecture, they could easily have already watched this.
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  25. @sten260. Really, that's what you went with?
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  26. it wasn't just the internet ( although I agree it was a large part. ) I tour a lot with bands so I see a lot of the towns in the UK and how they've changed over the last 30 odd years. Basically the town centres became identical copies of each other, you now have chains of shops like WHSmith, Claire's Accessories ( now bankrupt ) H&M, Primark, Topshop. M&S etc. etc. and so many betting shops everywhere and they're all identical. Like, everywhere. And then there's the industrial estate shopping centres, again identical. These chains have pushed out small businesses and shops. I mean, who even wants to shop in a places like this.
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  27.  @s.shep123  Enjoy the read. Can I also recommend: How Westminster works by Ian Dunt. I mean, that really is an eye opener.
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  28. A lot of buy to let landlords ( in the UK ) are in trouble right now with the increase of interest rates, it's being passed on to their tenants who can't fund the increase. I know people who are trying to offload their buy to let properties with not much success.
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  29.  @kevincowan2639  It's kind of an important message when you look at what's happening to the UK. Unless, of course, you're on the other side of the wealth fence.
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  30. Inequality is an international thing, you can't fix it in the UK without tackling it globally.
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  31.  @sallywild9351  Yeah. these guys need to form a party, like the Soulquarians but for discussion and debate on inequality. Rising tide floats all boats right into the public conscience and all that.
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  32. Also Liam Byrne, he has one of the best books out there on Inequality.
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  33.  @JoinTheBlocks  The Mirror is Labour.
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  34.  @matthewbarry376  He was on a student exchange to restore a monument to war victims. You make your own narrative up though, or just follow the Daily fails.
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  35. Looks like an interesting read, now in my Kindle :)
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  36. Speaking sense here Gary. I mean, what the Duke of Westminster got away on his inheritance was an absolute insult to every hard working tax payer in this country. Guy inherited £9bn and paid zero tax on that and probably pays zero tax on the wealth that property generates. It's beyond a joke.
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  37. This is one of the issues covered here ( and I say this as someone who invests ) if a lot of people are making significant gains from investing ( 10%, 20% or even 5-10x and more as we've been seeing on some tech stocks ) and the overall economy is growing at 1-3%, then those gains can only come from massive wealth redistribution.
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  38.  @hilaryporter7841  A vote for the independents or Greens is a vote for the Tories.
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  39. Loved the book, great read. Seems like the more money you were making the more unhappy you became which is interesting.
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  40.  @BalletNews  And there you have it :)
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  41.  @eco-terrorist  stop it.
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  42. The question being: how do we shift taxes away from wages and towards wealth when those with the wealth always have, and always will control the system and make the rules. Don't think asking them nicely will do the job.
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  43. We call it Thatcherism, but we really should call it for what it was, Milton Friedman( ism)
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  44. There is also a lot of properties that get sold to cover the Nursing home care costs of someone getting older. I mean, that's a scam industry and a huge transfer of wealth in itself.
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  45. @burgienl The problem being is that you had wealth but it's been taken away so you have nothing to pass on to a future generation. Your family therefore is always going to be in poverty compared to the wealthy who accumulate more and more over time.
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  46. Because they think it'll actually help them.
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  47.  @christinavuyk2026  How is educating schoolchildren on finance perpetuating the problem?
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  48. ​ @David-bi6lf  That's not democracy. Just because you don't like the way someone votes doesn't mean you can silence them. I mean, with Brexit it was also the younger voters who did not vote at all and also all of the "undecideds" who were targeted and manipulated on social media via companies like CA.
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  49. Welcome back mate, hope you had a great holiday :)
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  50.  @ninjadudeofficial  The greens couldn't run a bath.
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