one<00:00:00.539> of<00:00:00.659> the<00:00:00.840> biggest<00:00:01.020> changes<00:00:01.800> in<00:00:02.040> the

one of the biggest changes in the

one of the biggest changes in the economy<00:00:02.520> in<00:00:02.700> the<00:00:02.820> last<00:00:02.940> 20<00:00:03.120> 30<00:00:03.360> years<00:00:03.600> has<00:00:04.259> been

economy in the last 20 30 years has been

economy in the last 20 30 years has been an<00:00:04.740> enormous<00:00:05.040> increase<00:00:05.339> in<00:00:05.880> asset<00:00:06.359> prices

an enormous increase in asset prices

an enormous increase in asset prices that<00:00:07.919> is<00:00:08.099> most<00:00:08.400> visible

that is most visible

that is most visible in<00:00:09.900> house<00:00:10.019> prices<00:00:10.320> but<00:00:11.219> it's<00:00:11.340> important<00:00:11.639> to

in house prices but it's important to

in house prices but it's important to understand<00:00:11.940> that<00:00:12.240> it's<00:00:12.420> actually<00:00:12.599> happened

understand that it's actually happened

understand that it's actually happened in<00:00:13.200> pretty<00:00:13.559> much<00:00:13.679> all<00:00:13.920> assets<00:00:14.280> there's<00:00:14.820> been<00:00:15.059> a

in pretty much all assets there's been a

in pretty much all assets there's been a massive<00:00:15.420> increase<00:00:15.599> in<00:00:15.900> stock<00:00:16.320> prices<00:00:16.619> there's

massive increase in stock prices there's

massive increase in stock prices there's been<00:00:17.220> a<00:00:17.400> massive<00:00:17.580> increase<00:00:17.760> in<00:00:18.119> land<00:00:18.359> prices

been a massive increase in land prices

been a massive increase in land prices there's<00:00:19.380> been<00:00:19.560> a<00:00:19.740> massive<00:00:19.920> increase<00:00:20.100> in<00:00:20.460> the

there's been a massive increase in the

there's been a massive increase in the gold<00:00:20.760> price<00:00:21.119> and<00:00:22.080> while<00:00:22.500> I'm<00:00:23.220> filming<00:00:23.460> this<00:00:23.580> in

gold price and while I'm filming this in

gold price and while I'm filming this in London<00:00:23.939> there's<00:00:24.060> been<00:00:24.240> a<00:00:24.300> lot<00:00:24.359> of<00:00:24.480> focus<00:00:24.660> in

London there's been a lot of focus in

London there's been a lot of focus in the<00:00:24.900> UK<00:00:25.080> and<00:00:25.260> London<00:00:25.560> it's<00:00:25.980> important<00:00:26.340> to

the UK and London it's important to

the UK and London it's important to realize<00:00:26.760> that<00:00:26.880> increase<00:00:27.180> has<00:00:27.720> been<00:00:27.960> pretty

realize that increase has been pretty

realize that increase has been pretty much<00:00:28.260> International<00:00:28.560> we've<00:00:29.400> seen<00:00:29.580> a<00:00:29.699> big

much International we've seen a big

much International we've seen a big increase<00:00:29.880> in<00:00:30.119> house<00:00:30.359> prices<00:00:30.599> and<00:00:30.960> stock

increase in house prices and stock

increase in house prices and stock prices<00:00:31.460> all<00:00:32.460> over<00:00:32.640> Europe<00:00:33.120> the<00:00:33.480> us<00:00:33.600> all<00:00:33.899> over

prices all over Europe the us all over

prices all over Europe the us all over the<00:00:34.200> Western<00:00:34.320> World<00:00:34.680> now<00:00:35.340> this<00:00:35.579> is<00:00:35.700> what<00:00:35.820> I

the Western World now this is what I

the Western World now this is what I call<00:00:36.120> the<00:00:36.360> asset<00:00:37.079> economy<00:00:37.620> the<00:00:38.280> reason<00:00:38.399> I<00:00:38.579> call

call the asset economy the reason I call

call the asset economy the reason I call it<00:00:38.880> this<00:00:39.120> is<00:00:39.420> because<00:00:39.840> asset<00:00:40.379> prices<00:00:40.559> have

it this is because asset prices have

it this is because asset prices have increased<00:00:41.340> enormously<00:00:42.180> in<00:00:42.420> the<00:00:42.480> last<00:00:42.600> 30

increased enormously in the last 30

increased enormously in the last 30 years<00:00:43.079> and<00:00:43.739> wages<00:00:44.100> have<00:00:44.399> only<00:00:44.579> increased<00:00:45.000> a

years and wages have only increased a

years and wages have only increased a bit<00:00:45.360> we<00:00:46.140> have<00:00:46.260> moved<00:00:46.559> into<00:00:46.680> a<00:00:47.040> new<00:00:47.160> kind<00:00:47.340> of

bit we have moved into a new kind of

bit we have moved into a new kind of economy<00:00:47.879> where<00:00:48.239> increasingly<00:00:49.020> the<00:00:49.739> work<00:00:49.920> that

economy where increasingly the work that

economy where increasingly the work that you<00:00:50.399> do<00:00:50.579> is<00:00:51.420> not<00:00:51.719> really<00:00:52.140> that<00:00:52.680> important<00:00:53.039> for

you do is not really that important for

you do is not really that important for determining<00:00:53.700> how<00:00:53.820> rich<00:00:54.000> you<00:00:54.180> are

determining how rich you are

determining how rich you are increasingly<00:00:55.500> the<00:00:55.860> only<00:00:55.980> thing<00:00:56.160> that<00:00:56.399> matters

increasingly the only thing that matters

increasingly the only thing that matters is<00:00:57.360> how<00:00:57.780> many<00:00:57.960> assets<00:00:58.500> your<00:00:59.160> family<00:00:59.460> has