Comments by "Aden Wellsmith" (@adenwellsmith6908) on "Garys Economics" channel.

Almost. When it comes to real resources its physical. When it comes to Gary Economics, its just a fantasy game like fantasy football. What would happen if we ignore reality, what if? ie. What if we ignore 90% of the state debts.
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@jamesalderman1443 The bigger error, and its Gary's is GIGO. Garbage in Garbage out. If you don't put all the debts into your system, you wont' get correct answers out even if the model is correct.
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Why? What does that achieve?
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@pipeandpotter1236 The BoE sets the base rate to control inflation. Interest rates have gone up because of QE [all money loaned to the state], and spent. Second bit of BoE policy, is to control risk. So I take it you were objecting to rich people hoarding cash at 0% interest, and tax evasion on the income as a result? What needs to change? The BoE Target should be the price index. Rebase that to 100, and the target is 100+-5. If it goes outside that range, the BoE Board is sacked and replaced.
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Why are you missing out the big state debts in an effort to try and make state debts look affordable? Meanwhile why is the state making a 30% PROFIT on its services? It's the debts. It's causes austerity.
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Wind turbines = higher prices.
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@shadowofmyfutureself Gary's one of them. For example the other day he talked about goven debt being affordable. ie. The ratio of debt / gdp being the measure. What debt? Oh only the debt owed to his banker mates matters. All the other debts, like PS worker's pensions, state pensions, nuclear clean up, EU, Post office and NHS damages, ... not included. That makes the debt look 'affordable'. Next GDP. As if the state can tax 100% and deliver zero services. Inflate the income, the denominator makes the debt look affordable. One the rich leaving, what happens is that their wealth leaves. They don't have to. Remember the top 1% pay 27% of income tax. How many have to leave [or their wealth] to have a serious effect on the UK government? Same for companies. If companies decide, we're going to put our money elsewhere, you lose tax money mostly because of the jobs it generates.
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Where's the 20% of your income that's NI. Whose creaming that cash? Gary just trying to distract you. It's someone else, not the socialist that are robbing you blind and putting hyou into debt.
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@garyseconomics You want redistribution. However we already have redistribution. National Insurance is just redistribution. People pay in close to 20% of their income to the socialist welfare state. None of that money is invested to produce capital. It's all redistributed. That leaves a debt. A debt that you won't acknowledge. You've made clear statement that government debt is around the 2.5 trillion mark. That's not the debts. That's just the borrowing part of the debts. The borrowing is £2,646.45 bn as of this morning. DMO number. What about all the other debts? That's why you are trying to distract people. You go one about the debt, but only talk about the money owed to bankers. Why would you only be concerned with money owed to bankers and not money owed to the peasants?
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@ There's already been a massive tax on wealth. National insurance at the end of the day is a wealth tax. 20% of your income is taken and given to someone else. As a result you are deprived of the wealth that money would bring. For Mr Average, if his NI had been invested and he retired at the end of last year, his fund would have been worth 1.15 milllion. He's lost all that wealth. It's a wealth tax. Then we have the debts. He's owed a pension, as other people who have paid in. That's a debt that the state owes people. How big is that debt? Gary won't tell you how big it is. He will just tell you how big the borrowing is. That's the only debt that matters to him. I suspect its because he's a banker and bankers want to be paid even if the peasants aren't. He then comes along and says look the debt is affordable because the ratio of debt to GPD is 1. But if you want to fiddle affordability, what do you do? 1. Decrease the debt number. Leave off pensions, wages, invoices, insurance, damages, the EU, nuclear clean up. Makes the ratio look better. 2. Increase the income. Eg. GDP not tax receipts. Even that's an inflated number. 100% of tax going on debt's never going to work. The simple test for Gary is for him to come back and itemise the debts. I've given him a free starter. The borrowing this morning was £2,646.45 billion [DMO number] What do you conclude if he can't find any of the other numbers? What do you conclude when, if he does, that number exceeds the debt he reported on? Hiding the debts so the peasants carry on paying in is the name of the game.
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@BocaoZ It's spot on. 16 trillion pounds of pension debts off the book. 30% of state spending on the debts means austerity Taxes 30% above cost of services. low take home pay, cost of living crisis. Wealth inequality caused by the asset stripping of the workers. So why woudl a PhD Lecturer ignore all the debts?
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@Everlast-2025 Congratulations. You've done more than Richard who won't admit to the debts. Now it's more. That's with the assumption that the wealth has been invested in AA Corporate bonds, and that there is never any default. Risk free rates, to discount, are much lower than AA Corp Bonds. So the actual debt is far higher. Then on top, there are the other debts. Nuclear clean up is a hard one to default on.
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 @Everlast-2025 So what's that gearing? Totall Debts / (tax - core spending)? What's the annual rate of increase and how does that compare to GDP? Can Mr Average afford a pro rata share?
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@vonder7 The country is struggling for two reasons. 1. The asset stripping by the welfare state of the masses, placing the workers into debts. 2. Mass importation of poverty. Neither Tories or Labour have any policies to fix it because they created the mess.
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@bacrebac Apart from statistical mechanics! 🙂 Lots of areas even in physics ... The difference is that when it comes to economics etc, Garbage in Garbage out is the norm.
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@vonder7 So here's the counter example. How's the ineqality created? If its created by a lack of working, then I agree with you. If its created by the state asset looting the wealth of the workers, then its more than unhealthy, its a disaster
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@fiqhonomics So was debt, but you have the left saying borrow and spend. Perhaps Sharia law should be applied to MPs.
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@ pareto distribution
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@ Unfortunately there is NO free market solution for base load energy Yes there is. Cheaper prices for those that accept brownouts, and expensive prices for those t hat don't.
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@ How's is government debt sustainable?
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@ And that's symptoms. What's the cause? Where are the trillions the workers have paid the socialist welfare state?
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@ So how have they analysed where the trillions the workers have paid welfare states for their old age have gone? They have whinged about the effects of the ponzi, not the ponzi.
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@ So the welfare state. Trillions paid in. Now what does socialism do? Screws people.
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@ It's a socialist problem. The workers have paid the DWP trillions of pounds. SS has been paid trillions of dollars. Vast amounts of wealth taken from the workers causing wealth inequality.
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@ticosewell No. The problem is the state asset stripping people and forcing them into debt. Even Richard can't admit that the workers are owed a pension. He can't admit to the size of the debts.
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Why is the civil service pension not a debt? @gordon1201
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Assets can and do leave.
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Biden and co were looting. Hence they are scared of Elon.
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So where are the trillions the workers have paid the socialist welfare state? Produces a debt, that's negative wealth. Why are you surprised at wealth inequality that is a direct consequence of that ponzi?
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@ So lets look at a policy that causes wealth inequality. Where are the trillions of pounds of wealth the workers have paid the socialist welfare state for their old age?
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