Youtube comments of Helen Heenan (@helenheenan3447).

  1. I watched, from across the pond in the UK, Jamie Raskin eviscerate Trump during the impeachment hearings and have been an admirer ever since. It's good for us to remember that there is a majority of intelligent reasonable people in the US, and Raskin is one of the best.
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  2. I think they also get a dopamine hit from the prestige of their position, the elite company they keep, and the approval of their peers and financial sponsors.
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  3. Thank you for this Richard. Every time someone raises Venezuela, Zimbabwe or Germany post World War I, in what is usually a throw away one line comment to try and discredit Modern Monetary Theory, I will point them to this video. A brilliant explanation of what really caused their hyperinflation.
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  4. Always something new to learn from these videos. Thank you, Richard.
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  5. Seth Meyers is a true class act. What a relief to hear such a funny, serious, positive commentary.
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  6. So pleased that she acknowledged Diane Abbott as mother of the house, and parliamentary pioneer.
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  7. Thank you Seth. I wish we had you in the UK where our politics are just as crazy.
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  8. Quite. And you won't have seen many tenant farmers out there protesting in London.
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  9. Totally brilliant, much appreciated across the ocean in the UK. Seth . Meyers is the best ❤
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  10. Bravo Jon! We need someone like you in the UK right now.
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  11. I was one of the lucky post war generation too. Born into the NHS, free school meals because my Dad had died, free university education for four years, a good job with a final salary pension, my state pension at 60. And as a result I am reasonably healthy, physically and mentally, have paid a lot of money in taxes, and still do. I have more than paid back my country's investment in my well being. I feel sad and angry that young people are now burdened with debt before they even start their adult working lives. I have supported Labour, in the expectation they would restore some fairness to society. That's another massive disappointment.
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  12. ​ @leehumphries7696 Correct. It's how they justify privatisation. There's no government money, so the private sector has to rescue the railways, water and the health service. It's a big fat lie.
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  13.  @bernardwatts5339  I think the point about the rich is that they have no concept of what enough means. Murphy and Heller are saying the same thing. We can see that they have more than enough, but they still want more.
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  14.  @Leapops  You have to be bright to make money? Really?
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  15. Yes!
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  16. Thank you RIchard. I've been reading your blog for years, have read your books, and follow your videos now on YouTube. I am constantly amazed that almost every day, I learn something new from your posts. Keep up the good work.
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  17. Palantir. Waiting in the wings for Streeing to deliver.
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  18. Excellent idea, well presented. Rachael Reeves should be listening.
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  19. So many people robbed of the joy of singing throughout their adult lives, because someone in school told them they can't sing. Everyone can sing.
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  20.  @howdan1985  Sarcasm, right?
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  21.  @maria8809ttt  Absolutely correct. The Tories chose austerity, and used their supposed lack of money to justify it. They know how the economy works (well some of them do), but it's more politically convenient for them to starve services we need, like the NHS and education, so that the private sector can supposedly come in and fix them (or make a profit, as they really intend.)
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  22. Welcome - you have found a gem
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  23. Thanks for that, very quotable!
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  24. And if you have joint pain due to arthritis, basic wear and tear, and are living in pain for years, waiting for routine surgery, then you rapidly lose muscle strength. 2 years for a hip replacement now, when 12 years ago it was 4 months.
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  25. Commercial banks can only create money under licence from the Bank of England. So Murohy is correct.
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  26.  @michaelharrison9340  Which experimental medical procedures are you referring to?
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  27. ​ @keithdonnelly8636 Rachel Reeves ' fiscal rules. If you haven't heard her banging on about this you have missed exactly what Murphy is saying
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  28. Modern Monetary Theory is not an entity with agency to blame anybody or anything. It simply describes how money works in today's economic environment.
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  29.  @halfdan_f  The government owns the bank.
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  30. If there is a danger of inflation caused by too much money in the system, then the government taxes it back. Richard has said this several times already in this video series. That is one of the main purposes of taxation.
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  31. ​ @davecross4493 it's not a theory. It is how things actually work. The bank of England has confirmed this.
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  32. Richard Murphy addresses your issues in detail on his blog, and in other YouTube videos. He has thoroughly debunked the figures in GERS. The links to more information are in this video and on this page.
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  33. Excellent idea. Where do I sign up?
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  34. Trolling again. Nobody buys this discredited nonsense about Venezuela and Zimbabwe any more.
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  35. Yes, bitcoin. The latest asset bubble ready to burst.
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  36. Well said, Richard.
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  37. And of course, Bernie Sanders is not a Democrat, but an Independent Senator
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  38.  @malkum61  Interesting. Can you elaborate?
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  39. And neither of them are even good businessmen either. They are at best deal-makers, and bullies.
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  40. A good question. The BoE is following neoliberal economic policies, as is Rachel Reeves and all Tory Chancellors and Prime Ministers back to Margaret Thatcher. It is a failed policy, but does make a lot of wealthy people even richer.
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  41. What happened at Peterloo can in no way be characterised as riots. August 1819, tens of thousands of peaceful petitioners for suffrage and parliamentary reform gathered to listen to a speech by Henry Hunt, and were attacked by yeomen and the militia. 12 died, men, women and children, and hundreds were injured. Not for nothing is it known as the Peterloo Massacre.
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  42. Yes, a must read for anyone interested in this subject.
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  43. Labour had over a decade in opposition to identify this problem, and to plan to fix it. They have not even mentioned a plan, or alluded to the problem, so it's naive at best to expect they need a bit longer.
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  44. The policy has had no effect on the birth rate. It has made children suffer.
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  45. I​ @rhysjohnson1224 it only became " independent" in 1998 as Richard explained. He also explained it's not really independent anyway, it's a politician sham to avoid the government having to take public responsibility for unpopular policies like austerity. So where's the disaster?
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  46. I learn something every day from these videos! Thank you.
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  47. But when mortgages come down, as they will, landlords don't decrease the rent. They just pocket the extra cash.
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  48. Why? Should we ban everyone from using the term "far right"? How about "far left"? Is that OK with you?
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  49. Calling someone a socialist, is not an argument, and using CAPS is not a good look.
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  50. Richard Murphy has been saying tis for years on his blog. There is life outside YouTube!
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  51. GIGO is true of computers. A properly trained doctor will, be able to process the patient's description and reach a better diagnosis.
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  52. You have not understood that MMT simply describes how the economy actually works when a government, like the UK or the US, has its own currency. It is not an idea to be debated, or experimented with. It is a fact that needs acknowledgement by those in charge of our economy. It makes a nonsense of the claim that there's no money, that we have maxed out the credit card, or that we need fiscal rules to balance the budget. All of those ideas are political gambits to give the government a rationale for austerity. And why do they do that? Because they are in hock to the city, the wealthy, and the plutocrats, who always benefit from austerity.
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  53. Yes, it is important, because when governments say they can't afford to do things, they use the excuse that they just don't have the money, hence austerity and its associated evils. If it is accepted that the Bank of ENgland can create the money the government needs, then talk of austerity is deceitful.
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  54. One easy way of driving the profit motive out of politics is to ban huge donations to political parties by large corporations and billionaires. Here in the UK, and in America, politicians are bought and paid for by corporate lobbyists, and billionaires.
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  55.  @stumac869  Flooding is caused by too much water. Now where do you think that comes from? Just the sea level rising, or do you think excess rain might have something to do with it? Check out rainfall levels jut this year compared to last.
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  56. Completely wrong. Everything you have suggested has been explained, debunked and recorded by Richard Murphy.
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  57. No, the private sector cannot function without government spending on infrastructure, education and health. Or without the legal system, police, courts. You are talking nonsense.
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  58. And they can give a good return when they are invested in useful funds that don't contribute t climate change. It's not a zero sum game.
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  59. One of the threats of AI, so we hear, is that jobs will disappear. so much so that the government will have to implement some kind of basic income. It doesn't have to be this way. Before the obsession with reducing costs, and outsourcing everything possible, HMRC, banks, commercial companies, used to employ real people to deal with the public. Because they were employees, they could be trained to multi-task, not only ansering the phones to deal with customer queries, but doing other useful work as well. It's called "a proper job". Call centres can't offer that service, they only do one thing, and the results are obvious to all of us. It doesn't work, and they don't care.
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  60.  @davidmcculloch8490  Excellent point.
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  61. ​ @davecross4493 No, it's not a theory. He is describing what actually happens. The bank of England has confirmed this.
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  62.  @adenwellsmith6908  All of us "benefit Britain" when we pay our taxes. It's not about that. It's about the proportion of each person's income paid, compared with others, and as Richard has explained, the wealthiest pay the least proportion of their income and wealth. Reducing that gap, not even eliminating it, will increase tax revenue and tax justice, and it won't affect the wealthy - they won't even notice. If Sunak had been taxed 25% instead of 23%, do you think he would really adjust his entire lifestyle?
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  63. He doesn't read from it. The subtitles are generated when the video is made, and are better than the YouTube subtitles.
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  64.  @229andymon  Really not worth feeding these trolls.
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  65. Seriously, you are wasting your time commenting on this channel. Nobody understands a word you are saying with your MAGA cliches.
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  66. " MMT is just that - a theory". It's understandable that you say this, because the T in MMT = Theory. However, it's a misnomer, because MMT descrbes what actually happens in the economy. It is not a theory.
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  67. ​ @TheCornish123456 What an idiotic remark.
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  68. Tribal lands? WTF?
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  69. He is moving to Blue sky.
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  70. If only more people had the guts to recognise they have been wrong!
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  71. Government doesn't actually spend our taxes, it spends money created by the Bank of England after parliament has ratified the budget. Taxation is the means of controlling the money supply after it has spent. THis is funamental to the way modern economies work.
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  72.  @harrisonbergeron9746  You are being grossly unfair.
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  73. We haven't been on the gold standard since 1971 or thereabouts. Google is your friend.
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  74. Sarcasm right?
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  75. Here you are again, completely misunderstanding what has been said. Government Under-reach if anything.
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  76. I have reported your comment as it is an outright lie. Murphy resigned from the ICAEW, and explained in detail on his blog why he did so. Why would you lie? Is it because you don't have a good case to make against his ideas?
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  77. Richard is making a simple point about one sector of the economy. You want to widen that to include other sectors. Fine. But you choose migrants as your first and only example. Not a good look.
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  78.  @john.despard  I think in this case, there is a cost to the people paying the tax - the NHS will have to pay more tax, and the NHS is the tax payer.
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  79. Yes indeed. That's why videos like this are important. That's why Richard Murphy makes them. People are not interested where their pension fund is invested, because they somehow assume their money is in good hands, when there is so much more that could be done with it ti benefit society.
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  80.  @TimLoo-w4u  Trolling so badly 😂
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  81.  @timothyrussell4445  Quite. You won't find many actual Americans praising their complicated and inefficient system.
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  82. There is no place in the current version of the Labour party for a Tony Benn or Jeremby Corbyn. It used to be a "broad church", at least allowing left wing policies to be discussed.
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  83. The Labour Party has moved far to the right from where it was even under Blair. Calling it centre-right simply reflects the shift that both Tories and Labour have made to the right.
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  84. No. That's the problem.
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  85. Very useful summary. I shall be sharing this a lot.
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  86. You raise an interesting point. When the local car repair shop offers to do a cash deal, rather than putting it through the books, do you accept the cash deal, or do you tell them, "No, thanks, I'd rather pay you more, and have you declare it on your tax return"? Similarly with the plumber, the carpenter, the gardener....
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  87. Good question
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  88. I don't think I will be taking financial advice from you, thanks. 😀
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  89. That's not really relevant
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  90. He's worse.
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  91. Thank you Richard, it all makes a lot of sense.
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  92.  @aim4daface  If you buy your fish'n'chips at a chip shop you're unlikely to get tartar sauce - usually just salt and vinegar. if you have fish and chips in a pub or restaurant (i.e. sit down and eat in) you'll get tartar sauce on the side. You then ignore it and pick the tomato ketchup instead.
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  93. ​ @Gibbonomics Pedantry is what you just did.
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  94. Brilliant!
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  95. And Mark Drakeford, former Welsh First Minister. A good speaker too.
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  96. Mark Zuckerberg has questions to answer, Facebook is a threat to democracy.
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  97. The problem with so many politicians who claim the private sector know best, is that they have never worked in the private sector and experienced the shambolic mismanagement, the poor staff relations, the bad customer service, the wasted money, all covered up and forgotten because the profits are good, the shareholders are happy, and the bosses get their bonuses.
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  98. Hilarious! you are joking, aren't you?
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  99. Richie Baby?
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  100.  Minimmalmythicist  It's hardly tribalism is it? It's local democracy, which is good at all levels. Scotland has the means to be a viable country in its own right. England has to deal with that.
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  101. Gosh, I guess Richard Murphy could learn a lot from you. /s
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  102. Okay, we'll call you racists then.
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  103. TDS? Please translate for us Brits.
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  104. Proud of igorance?
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  105. Actually, John Major's government initiated PFI's in 1992. Blair took them up to the max.
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  106.  @carlyndolphin  Wow, your son's friend said that! Now I'm really convinced. /s
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  107. Taxation controls the money supply and directly addresses inflation.
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  108. So youo are not really worried by MMT, but by the incompetent management of the economy by our elected politicians. And that's what needs fixing.
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  109.  @Danothebaldyheid  Best not to feed the troll. You are right..
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  110. Have you read or listened to Stephanie Kelton?
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  111.  @thpark8189  But they are raising rent to cover their higher mortgage payments, which are caused by higher interest rates. When those interest rates come down, and the mortgage payments come down, then why shouldn't rents come down too? Otherwise it's not profit, it's profiteering. And I speak as a forment landlord, so I do know how it works.
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  112. Making money off money. Rentier capitalism.
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  113. Keep listening to Richard Murphy, read his blog, watch the rest of his videos. It's complicated, but as he explains it, it does make sense.
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  114. Straw man argument. Theoretically the rich can move their wealth with the click of a button, but not many do, because they have lives, families, property, jobs in this country and they like iving here. Where will they go, that won't tax them? And would we miss them, if they are not paying their fair share of taxes anyway?
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  115. Cui bono? Who benefits?
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  116. Data is (are) neutral. Collecting it is neutral. Using it then becomes a question of intent: benign intent, to benefit society, or malign intent (looking at you Dominic Cummings, Elon Musk, Nigel Farage) to use for political and financial gain.
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  117. Funds from premium bonds are not linked to a specific project, like NHS, energy efficiency etc.That's what's different about Murphy's suggestion here.
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  118.  @arthurdixon5890  You're welcome Arthur. Good to have a reasonable conversation!
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  119. COme back in a year and tell us all about it. I won't hold my breath.
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  120.  @billB101  He criticises the Tories just as much as Labour. It's not party poltical.
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  121. They are.
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  122. Premium Bonds are counted in the national debt. Billions of £££ owned by you and me, and in effect., saved with the government. It is only debt in the sense that it will be paid back to you and me at some point. So not debt in the sense of a liability that is problematic. Also government bonds, as Richard has explained.
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  123. Thirty two likes at the time of writing. Thirty two trolls on the job.
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  124. The confusion is partly due to the members of the House of Representatives being referred to as "Congressman / Congresswoman"
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  125.  @sllabres1  You are right about the use of the term "debt" and "overdraft". In other more detailed blogs and videos, Murphy is clear that these concepts are not correct. I think he uses them here to try and keep the message fairly simple to understand in a very short exposition of a single idea - this time, the idea that MMT leads to uncontrolled spending.
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  126. Taxation is primarily for regulating the amount of cash in circulation, and the government has to do this to manage inflation. Taxes do not pay for anything.
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  127.  @kayedal-haddad  The government can control inflation by increasing taxation. That is a fundemental assumption of MMT. Taxation is simply a way of removing money from the economy. And of course, that supports the notion that the government does not raise taxes in order to fund its programmes. It created the money, they taxes it back when necessary.
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  128. Don't believe in gravity then?
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  129.  @starShadowe  Yes.
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  130. That is an excellent question, and I would like Rachel Reeves to answer it.
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  131.  @Hickalum  In the very first minute of the video, Murphy says "tariffs imposed on goods from China". Were you not paying attention?
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  132. If you had been paying attention to Richard Murphy over the many years he has been producing a daily blog, then you would know that he is not party political, and not interested in clickbait. He has been equally critical of the Tories.
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  133. The clue is in the word revenue. It means "that which is returned to you". Nothing to do with spending.
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  134. He spoke about fascism in detail in yesterday's video, and explicitly referred to it at the beginning of this one. You clearly were not listening.
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  135. You are not alone. As a dual US/UK national, I completely agree with you, as do many thinking Americans.
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  136. Yes he did. That's why I have unsubscribed from Washington Post.
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  137. Bless!
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  138. Both
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  139. It's not just apathy though is it? If the subject is never discussed then of course people won't think about it.
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  140. Great book.
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  141. But the government doesn't need to balance the books, and certainly doesn't need a surplus.
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  142. Wrong. The Bank of England sets interest rates. How can you not know that?
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  143. The republican movement is growing fast. THe monarchy is not universally loved, it is mocked and scorned by many. We are getting there, but you are right, the ancient privileges of class still have huge influence.
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  144. Two wrongs....
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  145.  @davecross4493  It may need called Modern Monetary Theory, but what Richard has described in this video is not theory. As I have said, and the bank of England has confirmed, this is how government finance actually works, today, in the UK.
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  146. No, the government is the guarantor.
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  147. You clearly haven't listened to all the other videos, or read the hundreds of blog posts, or his books. A seven minute video on one topic might seem reductionist to someone who isn't paying attention.
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  148. Good question
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  149. It won't be moved to an account in the UK unless it's for payment or investment; in other words, it might be moved to someone else's account, but not the account ofthe owner.
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  150.  @jeff__w  A wonderful book.
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  151. Politics. And keeping the city happy.
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  152. Actual cash - i.e. coins and notes, represent about 3% of money.
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  153. Where can I get me a pair of crypto earrings? Or a crypto wedding ring?
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  154. No, you are wrong!.(Just adding to the intellectual debate here /s)
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  155. Palantir.
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  156. What point are you making?
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  157. No, in these discussions "money" is debt. You can't define "money in its truest sense". This is a discussion tht requires you and me to accept the definitions being used. Richard Murphy makes this quite clear.
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  158. ​ @inthefieldunderthesky Do educate us then. Give us the benefit of your superior knowledge
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  159.  @Hickalum  What is is with you and cranberries?
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  160. What's really worrying is that his supporters are just as stupid as he is, if not more. That's why they think he's talking sense. I can't think of any other explanation.
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  161.  @foxmoongaze  That's why Richard suggested it's a misnomer to call it a theory. If a theory can describe what actually happens (like gravity or evolution) then is it a theory?
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  162.  @ltmund By January 20th 2025?
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  163. I don't disagree that this government is apparently clueless or worse, being manipulated by the city. But to say there has never been such a rudderless band of misfits in charge of this country is to forget David Cameron, Theresa May, Boris Johnson, Dominic Cummings, that lettuce woman, and Rishi Sunak.
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  164.  @Tensquaremetreworkshop  If you think Richard Murphy doesn't talk about the future, then you haven't been listening, not even to this video.
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  165. And you can't even spell it! Bot or what?
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  166. I'm guessing none of your family ever benefitted from free movement.
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  167.  @VoltDweller  You MAGAS need to understand that the rest of the world thinks you are all crazy, and your little cult words like TDS don't mean anything. Go away and play amongst yourselves, while your great leader destroys democracy.
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  168. It's much worse for developing countries, who need the investment in their own societies.
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  169. The government owned Bank f England created the money withwhich to pay.
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  170. And politicians can do what's best for us by regulating and controlling what business is allowed to do.
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  171. Both Labour and conservatives are bought and paid for by the wealthy. They do their bidding.
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  172. Don't diss all old people! Some of us still function well enough to know that Trump is a disaster. 😀
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  173. Or you haven't understood anything he has said.
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  174. It's not speculative to report that Rachel Reeves has adopted the same economic contraints as the Tories. Her fiscal rules are the bedrock of her policy, and no different from those of Jeremy Hunt.
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  175. Can we ignore everything Trump threatens, just because he doesn't follow through on everything?
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  176. You are not wrong, but the point of the video is that Reform is not a valid political party, and has no genuine, practical policies, or the ability to carry them out.
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  177. He's occasionally on the Jeremy Vine show
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  178. You're doing Richard Murphy a disservice. If you want to read about the solutions he offers then go to his blog, or read his report Taxing Wealth 2024.
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  179.  @meursault7030  You asked a question. I answered it.
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  180. @puppets.and.muppets Money? Cash? Currency? Check the definitions. Money is not cash.
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  181. We are not all as clever as you.
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  182. Except there is no black hole. That's a political choice to frame the economy with scare quotes like that.
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  183. Separation of powers stops working if you have a Republican Congress and Supreme Court.
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  184. I think you mean privatisation, not nationalisation.
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  185.  @stephfoxwell4620  You seriously think ideas kill people?
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  186. You might benefit from Richar Murphy's other videos, which answer your questions.
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  187. Definitely not a science. More akin to anthropology or sociology I would guess, as a means of understanding how the world actually works in practixe; rather than trying to formalise and formulate rigid rules that can be used to predict future behaviour.
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  188.  @ΑΣΔΦΓΗΞΚΛ  No he absolutely was not. Why are you telling lies?
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  189. You missed almost everything. Watch the video again, all the way to the end. There are several solutions.
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  190.  @adenwellsmith6908  Clueless
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  191. He did, for years.
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  192. But that's not what Murphy said. You are attacking a straw man in your head.
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  193. If they were politicians with ideological convictions and values they would soon be hounded out of the party. We know our system is corrupt, we know democracy doesn't function, we know it's a corporate oligarchy. This particular video is looking at the psychology of those who do make it.
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  194. Another unintelligible remark from you.
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  195. The spending comes first, then taxation recoups the money created. It's the sequence of events that matters. Spend the money, then ta it back. It make the concept of "taxpayers money" being necessary to fund investment, a nonsense.
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  196. Listen to it again. It makes sense.
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  197. He is often mentioned on Richard's blog
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  198.  @adenwellsmith6908  No you do not. We didn't join the Euro, did we????
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  199. If you are addressing your remark to Richard Murphy, then you must know, even from watching this video (you did watch it didn't you?) that he produced the Taxing Wealth Report in 2024, which takes a very hard look at tax.
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  200. Private companies like Capita, Lehmann Bros, Worldcom? Yes they did really well didn't they!
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  201. Richard has said this many times on his blog, in his videos.
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  202. But it was an issue, wasn't it? I remember it was quite a prominent issue on the news. What point are you trying to make?
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  203. ​ @rodneyfungus8249 Theories are proposals to be debated. MMT simply describes what actually happens in the real economy, so it's not really a theory. But given your claims about it, would you care to debate?
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  204. That's a very good question. I think the answer has much to do with the power of the finance markets and the city, who would lose out if government openly pursued a policy of funding its expenditure through creating its own money. The Bank of England and the government (whether Tory or Labour) collude in pretending they cannot fund theirown investment. They are owned by the hedge funds.
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  205.  @physiocrat7143  Oh do stop with the EU rubbish. You know nobody agrees with you, an you have failed to make the case.
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  206. Where is your evidence for that?
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  207. He's British, so unlikely.
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  208. It's an inconvenient truth. Makes a nonsense of austerity, so not popular with our chancellors.
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  209. The Bank of England can create the funds for the government if necessary as it did to save the banks in 2008 and finance covid spending.
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  210. You clearly have not watched, or not understood any of the preceding videos.
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  211. THe woke left wing have been in government for the past 14 years, have they?
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  212.  @poesie6279  I think you might find Richard's blog helpful, or his other videos. The government spends money to provide services, and it uses new money created by the bank of England. It doesn't need taxpayers money to do this. It collects tax in order to get some of that money back out of circulation to manage inflation.
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  213.  @poesie6279  I think the main reason to try and understand what Richard is saying is that our politicians are deliberately choosing to ignore the fact that there is money available if they need it. We need to ask why they do that, and who benefits. Labour has completely lost its way, and is following the austerity agenda, that relies on people believing there is no money. Why? It cannot help the people who need it most.
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  214. Ridicule is the best weapon against Trump.
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  215. RFK is right about ultra-processed food, but not about much else. As they say, even a stopped clock is right twice a day.
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  216. No they don't. If you insist that they do, then prlease provide evidence.
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  217. Things did start to change radicaly in the '80s. It's no coincidence that Margaret Thatcher, elected in 1979, told us there is nosuch thing as society, and started the neoloiberal coup that has lasted ever since. Labour should be exposing this failure of right wing ideology, but instead thay are continiung the failed austerity policies.
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  218. Rumour? We deal in facts here.
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  219. People in the UK won't know what DEI policies are.
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  220. And your solution?
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  221. We all live the life of a capitalist if we live in a capitalist society. You can't opt out.
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  222. Subscribed and shared!
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  223.  @physiocrat7143  And Shakespeare was a lousy poet, and Mozart couldn't play the harpsichord. Right. And you know better.
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  224. Correct.
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  225. That's a spurious argument. The proportion of tax they pay relative to their income is the criterion to assess them on, not the proportion of the tax take.
    2
  226. The government spend comes first. Then it taxes money back. Think about it. Where did the money come from in the beginning?
    2
  227. Except it's not a theory. "Just because you're paranoid doesn't mean they're not out to get you." (Joseph Heller Catch-22)
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  228. By which time it will be too late to stop him. That's a really good plan.
    2
  229. An aquaintance of mine, who buys into the MAGA conspiracy theories of global takeover of land by sinister left wing cabals, is joining the march in London today. He believes the IHT increase is part of the conspiracy. So yes, the far right have a stake in this issue, but not the one my friend thinks it is.
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  230. Chum? Oh dear.
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  231. Who or what is an indigenous person? Please explain because it's not a term in every day use.
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  232. Where will they all go? You must have some thoughts onthat. Just a couple of examples please.
    2
  233. We have. Nigel Farage. Just as stupid and just as useless.
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  234. Well there's a surprise!
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  235. Brilliant!
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  236. The Pied Piper can lead them to perdition for all I care. Seriously though, they will be scraping the barrell.
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  237. I get the impression Starmer is following someone else's agenda. He's probably got an authoritarian streak too, but he is not an original thinker, as is quite plain. The Blair / Mandelson clique is probably setting the agenda, still pandering to global wealth.
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  238. "You people", are just trying to explain how the system works.
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  239. Taxation is necessary for the government to control inflation by withdrawing cash from the economy. Taxes do not fund government spending. If you don't understand this, Richard Murphy has dozens of videos and blogs explaining this basic fact.
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  240. He did not vote Labour.
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  241.  @lkyuvsad  I think it's part expediency, part ignorance, and part group think. Asl long as the myth of the household budget analagy holds sway, and is so successful in creating an alibi for austerity, it will be difficult to break through and acknowledge the reality that Richard describes. Journalists collude, theyshould be askingthe questions.
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  242.  @scottyfive4319  Couldn't agree more. Management in the UK is hopelessly amateur.
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  243. It wasn't just chance that allowed Trump to appoint three Supreme Court Justices. There was a vacancy during Obama's second term, which the Republican dominated Congress prevented him from appointing. The Republicans yet again showing they are more interested in power than in democracy.
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  244.  @physiocrat7143  No it's not. You keep saying this, and you're wrong.
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  245. It's a bank holiday here so I would imagine RIchard is taking a break.
    2
  246. If you watched the video, then you will have noticed this is exactly what Murphy was saying. "I make it clear, I don't believe in the household analogy. But if she's going to use it, she should at least follow it. And she's not even doing that."
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  247. If only!
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  248.  @aficio698  You need to think that through. Just how does a privatised system as in the USA, work better than a properly funded NHS?
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  249. And take us all down with him?
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  250.  @jeff__w  You're probably right considering that many people watching this series of videos may be new to some of the ideas. Richard did make a recent video stressing the importance of repeating the facts and infinitum, so that they become familiar to people.
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  251. There is a difference between meeting the needs of the market, supplying something to satisfy a demand, like the local bakery, and creating a market for goods that people don't need, like a Toxic Waste Cherry Chewbar, brought to you for Hallowe'een, to supply rubbish to little children.
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  252. No, you are referring to cash - notes and coins. That is not money.
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  253.  @terryboland3816  We all ignore everything you say, so give it a rest
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  254. The United States is a country in denial, an empire in its death throes. Living standards have been eroded and the wealth gap is obscene, people die because they can't afford health care. No wonder some people are duped into believing someone like Trump when he says he can fix it. Watching America fall apart is like watching a slow motion car crash.
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  255. ​ @M2Mil7er How very interesting. I did not know that.
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  256. This was recognised in the video, quite explicitly.
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  257. If you read Richard Murphy's blog yesterday you would know that he is ill, and his son, who makes the videos, advised him to make an audio only version.
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  258. ​ @MyKharli It's not worth feeding this troll. It's indefatigable.
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  259. How can anyone take you seriously after what you just said? Do you really expect us to go back to 7:30 so we can agree with you?
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  260. Then you are one of the lucky ones, as am I. Understand that not everyone is in our fortunate position, and it is not their fault. Government (and we) have a responsibility to care for everyone.
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  261. If the value of the asset, the house, or shares, has dropped, so that it isn't enough to cover the loan, then the bank cannot recover 100% of the loan. That's what happens in a crash.
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  262. So what did you do in the NHS for 30 years that makes you such an expert?
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  263. Why?
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  264. One of your best Richard. Thank you.
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  265.  @shugieshugied2269  If Richard Murphy can see the data I think the opposition can too.
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  266. Spot on.Just look at the Post Office Horizon inquiry. It's clear that the management hierarchy at the Post Office was dysfunctional, incompetent, and dishonest.
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  267. If you are referring to council tax, then you're paying for concil services...
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  268.  @finchbevdale2069  I know that. But it' not the same as crypto in any meaningful way.
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  269. Then listen to Murphy's other videos and you can stop gagging
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  270. Trump, for example. And his mini me, Nigel Farage
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  271. Do you have any evidence for that?
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  272. Referenda are not the answer. They are the preferred tool of dictators.
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  273. Where was there any mention of government run farms? Are you hallucintaing?
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  274. Starmer is not left.
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  275.  @adenwellsmith6908  Who is advocating 90% tax? And those higher rates, when they are in effect, are not on the whole amount of income, just the top percentage.
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  276. Spot on
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  277. You quote the 1980s and 1990s yesterday the BoE wasn't "independent"until 1998, so how is your point relevant?
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  278. You didn't watch the video did you? Either that, or you completley misunderstood it (and I'm being gernerous).
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  279.  @jamesdean1143  As in Salman Rushdie et al? Oh, probably not...
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  280. Stunning! Thank you.
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  281.  @blackbulldog4897  Can't reach his site... do you have a link?
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  282. Why would any government need to run a surplus?
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  283. Pathetic. If you're going to troll, you have to try harder.
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  284. https://www.gov.uk/guidance/check-if-you-must-send-a-country-by-country-report. There is a legal requirement in this country. Whether it is complied with is a good question.
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  285.  @Dc-uf1ln  Why do you bother to comment every day if he's so useless?
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  286. Try watching it again. It's explained, but it's not straightforward for a layperson like me.
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  287. Restoring reproductive freedom? Not a policy you care about eh?
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  288. You don'thave to look at the screen, it's just a talking head, not an action movie.
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  289. Interesting point.
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  290. Why don't you say what you really mean?
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  291. When are you going to check into Murphy's blog and read the answer to your question there?
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  292. Of course the government pays interest on the money people save with it. It paid me interest just this week when my Premium Bonds won.
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  293. That could be an argument, and has been made with some legitimacy. However, that has nothing at all to do with young people spending time in another country. It is pretty much reciprocal, and works to everyone's advantage. Bringing nurses from the Philippines is another matter altogether. We couldn't do without them, but we should be able to. ANd they should be able to make a decent wage in their own country. Capitalism and its distortions...
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  294. A million times. Really?
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  295. It's a bot​ @stephfoxwell4620 
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  296. @peterfalconer-h3k  Richard Murphy has written a report called Taxing Wealth 2024 in which he proposes thirty or so changes to existing tax regulations in the UK to make it fairer, and ensure some of those exemptions are changed or eliminated. You can find it via his blog, or simply search online.
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  297. I know many. You need to get out more.
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  298.  @KimTebrok  Indeed, the eloquence is overwhelming!
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  299. How? Genuine question.
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  300. And yet here you are, sharing your wise words with us on a youtube channel. /s
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  301.  @michaelmayo3127  I think he just said the world is shit, people are evil, and Murphy hasn't got an answer. Typical windbag.
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  302. It's like the theory of evolution. Most people agree it's factual, but the use of the word theory can suggest it can be falsified. Therefore it's misleading, and gives people an excuse to deny it.
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  303. Yes, this is yet another symptom of a dysfunctional system. How can you train apprentices if everyone works for a contractor, and is self employed?
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  304.  @davecross4493  It's not a conspiracy theory. It's a fact that Bank of ENgland independence is a charade, the Treasury controls it.
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  305. Are you proposing we emulate the Chinese system? If not, what are you proposing? RM is not being naive about democracy, he is looking for a better implementation of it. You haven't suggested anything better. If class is everything (and I do not actuallty disagree) then what is the solution?
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  306.  @physiocrat7143  Oh here you are again, to impart your ineffable wisdom to us - /s
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  307. You gather.... some evidence please.
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  308.  @stephfoxwell4620  I think the Puritans were more likely to have signalled with semaphore than Fairphones!
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  309. If you want Richard to respond to your questions you are more likely to get an answer if you go to his blog.
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  310. The reality of socialism? Oh dear. Please explain.
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  311.  @MrHughk1  Absolutely correct. A lot of confusion in these comments, with people making their own definitions of money, cash, currency.
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  312. You weasel, Gates.
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  313. Oh dear! Do you think Jeremy Clarkson and James Dyson are communist traitors, buying up vast areas of tenante farmland?
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  314. Looks like you have no idea who Richard Murphy is. Just like we have no idea what a silver spooner is. Are you sure you're on the right channel?
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  315. Machine learning is more complext than you suggest.
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  316.  @Redf322  And even John McDonnell know this, but he too was unable to accept it.
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  317. But our money is no longer backed by gold. Do keep up.
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  318.  @pipster1891  I'm not sure that paying a plumber to fix your leaky tap fits into the classic Marxist definition of capitalism.
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  319. No, that is not the case. By retaining sterling, Gordon Brown ensured that the UK has its own fiat currency, and can control it independently via the Bank of England. European countries like Germany and France, using the Euro, no longer have that ability.
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  320. God help us if she doesn't. It will be the end of democracy as we know it.
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  321. Legalising even better.
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  322. Like turds in your drinking water. Great advert for market forces.
    1
  323. Calling someone childish is idiotic.
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  324. This is a video channel, not a court of law. We exchange ideas and discuss them. You can join in too if you have something interesting to contribute.
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  325. You really have misunderstood what is being said.
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  326. Thank you Bernie from across the ocean in the UK. We too are an oligarchy, we too have a government that is bought and paid for by the wealthy.
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  327.  @stephfoxwell4620  There are already different laws in Scotland and Northern Ireland.
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  328. banks bring money into existence under licence from the Bank of England.
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  329. You will probably find the answers to these questions on Richard Murphy's blog. He has many articles and a glossary that is very helpful.
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  330. ​ @Vroomfondle1066 He's a regular here. A bit like the drunken bore who's always droning on about something irrelevant when the adults in the room are talking.
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  331.  @adenwellsmith6908  The point is that only the currency issued by the government can be used to pay your taxes. Bitcoin and private currencies cannot function in the same way.
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  332. As reported yesterday The "World won’t be done with Covid-19 this year", warns WHO. It is unrealistic to think the world will be done with the Covid-19 pandemic by the end of the year, the World Health Organization warned on Monday. WHO emergencies director Michael Ryan said it might however be possible to take the tragedy out of the coronavirus crisis by reducing hospitalisations and deaths. But the virus remains in control, he added, especially given that global new case numbers increased last week after six consecutive weeks of decline. “It will be very premature, and I think unrealistic, to think that we’re going to finish with this virus by the end of the year,” Ryan told journalists. “But I think what we can finish with, if we’re smart, is the hospitalisations, the deaths and the tragedy associated with this pandemic.” Ryan said that vaccinating front-line health care workers and those most vulnerable to severe disease would “take the fear... out of the pandemic”. But he added that recent progress could not be taken for granted and “right now the virus is very much in control”.
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  333. I guess you know a number of wealthy people who live there.... /s
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  334. In a nutshell.Always follow the money. Cui bono?
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  335.  @paulrichards6894  Me too. He's brilliant.
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  336. Attacks on tips!
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  337.  @HaydenCyclist  So you are self-serving, opportunistic etc?
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  338.  @Celticcross688  Have you done your DNA test? And weren't the vikings immigrant predators? Why don't you go back to where your Viking ancestors came from? What a load of bullsh*t.
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  339. Then the government's attempt to fool you is still working. They deliberately made it very muddy, so that you wouldn't figure out that they were playing you.
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  340.  @v8interceptor134  You refer to "climate wombles". Do you really expect your comments to be taken seriously?
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  341. Bot?
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  342. One department that does appear to monitor fraud is the Department for Work and Pensions (DWP) because we all know about supposed benefit fraud perpetrated by people who are then constantly criticised as being lazy feckless and workshy. Funny that.
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  343. It's how you target the tax that is important. Clearly, it needs to be targetted at the most wealthy, and those who currently are undertaxed.
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  344. We have politicians of conviction, Jeremy Corbyn here in the UK, Bernie Sanders in the US. They were both effectively silenced by the parties of the left(ish). At least they are both still elected representatives, and are continuing to speak out. The fact that it was the Labour Party and the Democrats who attempted to silence them, makes it clear that all parties have been bought and paid for.
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  345. quite
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  346. That is not the cause of the inflation we are experiencing now. There is not too much money chasing too few goods. Current inflation was caused by the war in Ukraine and other global events.
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  347.  @johnward514  You do know that all the savings with NS&I like Premium Bonds are included in the national debt? How is that not savings? Why is that debt? If you put your savings in a bank, is that the bank's debt?
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  348. Who or what imposed a state fiat currency on the UK? Are you suggesting a return to the gold standard?
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  349. Keep going! We need to spread the understanding.
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  350.  @faree38green  You are so wrong! Have you not read or listened to anything Richard Murphy has been saying for years?
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  351.  @fatshartspunhouse2403  why do you bother coming here and listening to him?
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  352.  @jeff__w  He has. It's tax justice.
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  353.  @WarrenPeaceOG  Economists don't get licences.
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  354. Yes, but deliberately. Not so much getting it wrong, but deliberately doing the wrong thing, the thing that benefits the rich, while penalising the poor.
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  355. It's not being said by politicians because they have an austerity agenda. It's easier for them to pretend there's no money, rather than admit they don't want to spend. Journalists are just lazy, and don't explore or question these ideas, and economists are either ill educated, or have been co-opted by political ideas, or have too much invested in alternative versions.
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  356. He has replied to some in the past, so yes, sometimes he reads them.
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  357.  @joeblogs6598  MMT is not a religion to believe in. It's a description of how fiat money works in today's economy in the UK and US and other countries that issue their own currency. But throwing meanigless insults around is much easier for you than thinking about the facts.
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  358. Very persuasive argument. /s
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  359. Do tell us a bit more. Do you own your own land? Did you inherit it from your father? Did your father pay inheritance tax? What do you produce? Do you make a profit?
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  360.  @pipster1891  Murphy said in this video that he will give us his alternative version of PM's speech later this week.
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  361. Just look at the American system. The first thing people ask when they get ill is "can I afford to get treatment" and people mortgage their houses to pay for medical care.
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  362. Please scupper the captain!
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  363. And the earth is flat. Duh.
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  364. Give is a rest "terry" - we know you're a bot
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  365.  @terryboland3816  If you think Richard takes time to reply to trolls, then you really are deluded.
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  366. It's hardly meaningless if, as you say, the government's decisions have been financially illiterate. Understanding how the economy works enables us to see exactly how the government is failing us.
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  367. I think there are a lot of inaccuracies in your comment. My neighbour, who is not a UK citizen, but whose husband and three children are, and who has lived in the UK for 15 years, pays £2000 per annum to use the NHS.
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  368. We have been attacking the Tories for exactly the same issues for the past 14 years. Labour are no different.
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