when<00:00:00.760> economies<00:00:01.160> are<00:00:01.319> becoming<00:00:01.680> rapidly<00:00:02.120> more

when economies are becoming rapidly more

when economies are becoming rapidly more unequal<00:00:04.040> they<00:00:04.160> don't<00:00:04.359> really<00:00:04.520> want<00:00:04.720> goods<00:00:04.920> and

unequal they don't really want goods and

unequal they don't really want goods and services<00:00:05.440> because<00:00:05.640> allary<00:00:06.080> people<00:00:06.200> are

services because allary people are

services because allary people are becoming<00:00:06.600> poorer<00:00:07.240> what<00:00:07.359> they<00:00:07.439> want<00:00:07.600> is<00:00:07.759> assets

becoming poorer what they want is assets

becoming poorer what they want is assets because<00:00:08.400> rich<00:00:08.599> people<00:00:09.080> are<00:00:09.200> becoming<00:00:09.480> richer

because rich people are becoming richer

because rich people are becoming richer so<00:00:10.519> you<00:00:10.639> get<00:00:10.800> a<00:00:10.960> natural<00:00:11.400> deflation<00:00:11.920> in<00:00:12.320> goods

so you get a natural deflation in goods

so you get a natural deflation in goods and<00:00:12.679> services<00:00:13.120> prices<00:00:13.400> and<00:00:13.639> inflation<00:00:14.000> in

and services prices and inflation in

and services prices and inflation in assets<00:00:14.759> but<00:00:14.920> we<00:00:15.040> don't<00:00:15.240> look<00:00:15.400> at<00:00:15.599> the<00:00:16.000> asset

assets but we don't look at the asset

assets but we don't look at the asset inflation<00:00:17.240> central<00:00:17.600> banks<00:00:17.880> when<00:00:18.080> they<00:00:18.279> when

inflation central banks when they when

inflation central banks when they when they<00:00:18.520> consider<00:00:18.840> what<00:00:19.000> interest<00:00:19.240> rate<00:00:19.439> to<00:00:19.600> do

they consider what interest rate to do

they consider what interest rate to do the<00:00:20.600> news<00:00:20.920> they<00:00:21.039> talking<00:00:21.240> about<00:00:21.400> inflation

the news they talking about inflation

the news they talking about inflation they<00:00:21.800> only<00:00:21.960> look<00:00:22.080> at<00:00:22.160> goods<00:00:22.320> and<00:00:22.439> services

they only look at goods and services

they only look at goods and services inflation<00:00:24.359> so<00:00:24.800> we<00:00:24.920> will<00:00:25.039> move<00:00:25.279> into<00:00:25.480> a

inflation so we will move into a

inflation so we will move into a situation<00:00:26.039> where<00:00:26.400> goods<00:00:26.599> and<00:00:26.720> service

situation where goods and service

situation where goods and service inflation<00:00:28.039> and<00:00:28.240> in<00:00:28.400> particular<00:00:28.800> wage

inflation and in particular wage

inflation and in particular wage inflation<00:00:29.439> is<00:00:29.560> very<00:00:29.679> very<00:00:30.000> low<00:00:30.240> maybe<00:00:30.519> a

inflation is very very low maybe a

inflation is very very low maybe a negative<00:00:31.640> which<00:00:31.759> means<00:00:32.000> Central<00:00:32.279> bank's<00:00:32.559> cut

negative which means Central bank's cut

negative which means Central bank's cut rates<00:00:33.040> which<00:00:33.160> I<00:00:33.239> think<00:00:33.360> they<00:00:33.440> will<00:00:33.600> start

rates which I think they will start

rates which I think they will start doing<00:00:34.160> relatively<00:00:35.079> quickly<00:00:36.079> and<00:00:36.200> then<00:00:36.320> you

doing relatively quickly and then you

doing relatively quickly and then you get<00:00:36.680> this<00:00:36.879> like<00:00:37.120> double<00:00:37.440> whammy<00:00:37.879> impact<00:00:38.440> on

get this like double whammy impact on

get this like double whammy impact on asset<00:00:39.079> prices<00:00:39.440> which<00:00:39.559> is<00:00:39.680> first<00:00:39.840> of<00:00:39.960> all<00:00:40.079> the

asset prices which is first of all the

asset prices which is first of all the rich<00:00:40.840> are<00:00:41.000> making<00:00:41.239> a<00:00:41.320> ton<00:00:41.440> of<00:00:41.559> money<00:00:41.760> so<00:00:41.879> assets

rich are making a ton of money so assets

rich are making a ton of money so assets want<00:00:42.239> to<00:00:42.360> go<00:00:42.520> up<00:00:43.200> secondly<00:00:43.600> interest<00:00:43.840> rates

want to go up secondly interest rates

want to go up secondly interest rates are<00:00:44.160> collapsing<00:00:44.600> which<00:00:44.719> so<00:00:45.039> assets<00:00:45.800> go<00:00:46.039> up

are collapsing which so assets go up

are collapsing which so assets go up even<00:00:46.360> more<00:00:46.920> so<00:00:47.039> you<00:00:47.199> get<00:00:47.360> this<00:00:47.559> kind<00:00:47.800> of

even more so you get this kind of

even more so you get this kind of Disconnect<00:00:48.920> which<00:00:49.039> is<00:00:49.399> the<00:00:49.520> ordinary<00:00:49.960> economy

Disconnect which is the ordinary economy

Disconnect which is the ordinary economy is

is

is basically<00:00:52.879> there's<00:00:53.079> not<00:00:53.199> a<00:00:53.280> lot<00:00:53.399> of<00:00:53.520> inflation

basically there's not a lot of inflation

basically there's not a lot of inflation and<00:00:54.160> I<00:00:54.239> think<00:00:54.359> we<00:00:54.440> will<00:00:54.600> move<00:00:54.800> into<00:00:55.000> this<00:00:55.120> world

and I think we will move into this world

and I think we will move into this world soon<00:00:56.000> so<00:00:56.160> interest<00:00:56.440> rates<00:00:56.680> come<00:00:56.879> down<00:00:57.559> whereas

soon so interest rates come down whereas

soon so interest rates come down whereas asset<00:00:58.280> prices<00:00:58.559> are<00:00:58.680> going<00:00:59.000> massively<00:00:59.320> through

asset prices are going massively through

asset prices are going massively through the<00:00:59.519> roof