okay<00:00:01.599> so<00:00:01.760> we<00:00:01.920> are<00:00:02.080> here<00:00:02.240> today

okay so we are here today

okay so we are here today on

on

on 19th<00:00:04.560> of<00:00:04.640> july<00:00:05.200> hottest<00:00:05.600> day<00:00:05.920> in<00:00:06.000> the<00:00:06.080> history

19th of july hottest day in the history

19th of july hottest day in the history of<00:00:06.480> the<00:00:06.560> world<00:00:06.960> ever

of the world ever

of the world ever i<00:00:07.919> thought<00:00:08.160> it<00:00:08.240> would<00:00:08.320> be<00:00:08.559> um

i thought it would be um

i thought it would be um a<00:00:09.599> good<00:00:09.840> opportunity<00:00:10.400> to<00:00:10.480> talk<00:00:10.719> about<00:00:11.360> energy

a good opportunity to talk about energy

a good opportunity to talk about energy prices<00:00:12.320> and<00:00:12.400> the<00:00:12.559> energy<00:00:12.880> price<00:00:13.120> crisis

prices and the energy price crisis

prices and the energy price crisis because<00:00:15.679> um

because um

because um it's<00:00:17.119> important<00:00:17.440> we<00:00:17.600> need<00:00:17.680> to<00:00:17.760> know<00:00:17.840> how<00:00:17.920> to

it's important we need to know how to

it's important we need to know how to fix<00:00:18.320> it<00:00:18.800> but<00:00:18.960> also<00:00:19.119> i<00:00:19.199> think<00:00:19.279> it's<00:00:19.359> a<00:00:19.439> good

fix it but also i think it's a good

fix it but also i think it's a good opportunity<00:00:20.080> to

introduce<00:00:23.600> people<00:00:23.760> with<00:00:23.840> some<00:00:24.080> ideas<00:00:24.400> that

introduce people with some ideas that

introduce people with some ideas that they<00:00:24.640> can<00:00:24.720> use<00:00:24.960> to<00:00:25.039> help<00:00:25.439> understand<00:00:26.240> and

they can use to help understand and

they can use to help understand and evaluate<00:00:26.880> what's<00:00:27.039> happening<00:00:27.279> in<00:00:27.359> the<00:00:27.439> economy

evaluate what's happening in the economy

evaluate what's happening in the economy and<00:00:27.840> also<00:00:28.080> talk<00:00:28.240> a<00:00:28.320> little<00:00:28.480> bit<00:00:28.640> about

and also talk a little bit about

and also talk a little bit about the<00:00:29.840> way<00:00:30.000> the<00:00:30.160> media<00:00:30.560> oversimplifies<00:00:31.279> these

the way the media oversimplifies these

the way the media oversimplifies these ideas<00:00:31.760> in<00:00:31.840> a<00:00:31.920> way<00:00:32.079> which<00:00:32.239> is<00:00:32.399> often<00:00:32.800> unhelpful

ideas in a way which is often unhelpful

ideas in a way which is often unhelpful and<00:00:33.360> confusing

and confusing

and confusing okay<00:00:35.040> so

okay so

okay so we<00:00:37.040> all<00:00:37.200> know<00:00:37.360> energy<00:00:37.600> prices<00:00:37.920> have<00:00:38.000> become

we all know energy prices have become

we all know energy prices have become really<00:00:38.399> really<00:00:38.640> high

really really high

really really high it's<00:00:39.680> causing<00:00:40.000> the<00:00:40.079> consequence<00:00:40.559> that<00:00:40.719> a<00:00:40.719> lot

it's causing the consequence that a lot

it's causing the consequence that a lot of<00:00:40.960> people<00:00:41.200> in<00:00:41.280> many<00:00:41.520> cases

of people in many cases

of people in many cases will<00:00:42.640> not<00:00:42.800> be<00:00:42.879> able<00:00:43.040> to<00:00:43.120> heat<00:00:43.280> their<00:00:43.440> homes<00:00:43.760> in

will not be able to heat their homes in

will not be able to heat their homes in this<00:00:44.000> winter<00:00:44.399> which<00:00:44.640> is

this winter which is

this winter which is a<00:00:45.920> very<00:00:46.160> very<00:00:46.320> serious<00:00:46.640> problem<00:00:47.039> like

a very very serious problem like

a very very serious problem like literally<00:00:47.840> people<00:00:48.079> will<00:00:48.239> die<00:00:48.559> people's<00:00:48.879> lives

literally people will die people's lives

literally people will die people's lives will<00:00:49.200> become<00:00:49.360> very<00:00:49.520> uncomfortable

will become very uncomfortable

will become very uncomfortable um<00:00:51.440> and<00:00:51.600> how<00:00:51.680> do<00:00:51.840> we<00:00:51.920> fix<00:00:52.239> it

um and how do we fix it

um and how do we fix it okay<00:00:53.280> so<00:00:53.440> the<00:00:53.680> first<00:00:53.920> thing<00:00:54.079> which<00:00:54.239> people

okay so the first thing which people

okay so the first thing which people need<00:00:54.640> to<00:00:54.719> understand<00:00:55.520> is<00:00:55.760> that

need to understand is that

need to understand is that not<00:00:58.000> everyone<00:00:58.239> uses<00:00:58.399> the<00:00:58.480> same<00:00:58.640> amount<00:00:58.800> of

not everyone uses the same amount of

not everyone uses the same amount of energy

energy

energy um<00:01:00.559> and<00:01:00.719> the<00:01:00.800> number<00:01:00.960> one<00:01:01.120> thing<00:01:01.280> which

um and the number one thing which

um and the number one thing which affects<00:01:01.760> how<00:01:01.920> much<00:01:02.079> energy<00:01:02.399> you<00:01:02.480> use<00:01:02.719> is<00:01:02.879> how

affects how much energy you use is how

affects how much energy you use is how rich<00:01:03.280> you<00:01:03.440> are

rich you are

rich you are so<00:01:04.479> um

so um

so um very<00:01:05.840> rich<00:01:06.159> people<00:01:06.479> they<00:01:06.640> use<00:01:06.799> a<00:01:06.880> lot<00:01:07.040> of

very rich people they use a lot of

very rich people they use a lot of energy<00:01:07.439> you<00:01:07.520> know<00:01:07.680> if<00:01:07.760> you<00:01:07.840> think<00:01:08.479> of<00:01:08.720> like

energy you know if you think of like

energy you know if you think of like super<00:01:09.200> super<00:01:09.439> rich<00:01:09.600> people<00:01:09.840> they<00:01:09.920> literally

super super rich people they literally

super super rich people they literally fly<00:01:10.400> around<00:01:10.640> in<00:01:10.720> private<00:01:11.040> jets<00:01:11.280> you<00:01:11.360> know<00:01:11.520> this

fly around in private jets you know this

fly around in private jets you know this is

is

is you<00:01:13.280> know<00:01:13.439> this<00:01:14.000> unbelievably<00:01:14.880> high<00:01:15.040> energy

you know this unbelievably high energy

you know this unbelievably high energy consumption<00:01:16.400> uh<00:01:16.640> but<00:01:16.799> they'll<00:01:17.040> have<00:01:17.119> very<00:01:17.280> big

consumption uh but they'll have very big

consumption uh but they'll have very big houses<00:01:17.840> which<00:01:18.000> they'll<00:01:18.240> tend<00:01:18.400> to

houses which they'll tend to

houses which they'll tend to heat<00:01:19.360> in<00:01:19.520> the<00:01:19.600> winter<00:01:20.000> and<00:01:20.320> cool<00:01:20.640> in<00:01:20.720> the

heat in the winter and cool in the

heat in the winter and cool in the summer<00:01:21.200> and<00:01:21.280> then<00:01:21.520> they'll<00:01:21.680> have<00:01:21.840> they<00:01:22.000> maybe

summer and then they'll have they maybe

summer and then they'll have they maybe will<00:01:22.400> own<00:01:22.560> a<00:01:22.560> lot<00:01:22.720> of<00:01:22.799> cars<00:01:23.119> and<00:01:23.200> they'll<00:01:23.360> use

will own a lot of cars and they'll use

will own a lot of cars and they'll use private<00:01:23.840> cars<00:01:24.080> and<00:01:24.240> they'll<00:01:24.320> drive<00:01:24.560> them<00:01:24.720> a

private cars and they'll drive them a

private cars and they'll drive them a lot<00:01:24.960> and<00:01:25.119> maybe<00:01:25.360> have<00:01:25.520> big<00:01:25.680> cars

lot and maybe have big cars

lot and maybe have big cars they'll<00:01:26.880> have<00:01:26.960> big<00:01:27.200> parties<00:01:27.680> there's<00:01:27.840> loads

they'll have big parties there's loads

they'll have big parties there's loads and<00:01:28.159> loads<00:01:28.320> of<00:01:28.400> ways<00:01:28.640> in<00:01:28.720> which<00:01:28.960> very<00:01:29.119> wealthy

and loads of ways in which very wealthy

and loads of ways in which very wealthy people<00:01:29.600> use<00:01:29.759> a<00:01:29.759> lot<00:01:29.920> of<00:01:30.000> energy<00:01:30.320> right

people use a lot of energy right

people use a lot of energy right that's<00:01:31.759> number<00:01:32.000> one<00:01:32.240> point<00:01:32.400> to<00:01:32.560> make<00:01:33.119> number

that's number one point to make number

that's number one point to make number two<00:01:33.680> point<00:01:34.079> is

two point is

two point is um

um

um there's<00:01:36.240> kind<00:01:36.560> of

there's kind of

there's kind of two

two

two separate<00:01:39.360> sort<00:01:39.520> of<00:01:39.600> theories<00:01:40.000> bouncing

separate sort of theories bouncing

separate sort of theories bouncing around<00:01:40.560> about<00:01:40.720> what<00:01:40.799> the<00:01:40.880> cause<00:01:41.119> of<00:01:41.200> the

around about what the cause of the

around about what the cause of the inflation<00:01:41.759> is<00:01:42.399> um

inflation is um

inflation is um and<00:01:43.520> this<00:01:43.680> is<00:01:43.759> with<00:01:43.920> regards<00:01:44.240> to<00:01:44.320> both<00:01:44.560> energy

and this is with regards to both energy

and this is with regards to both energy and<00:01:45.200> inflation<00:01:45.680> in<00:01:45.759> general<00:01:46.399> so<00:01:46.560> people<00:01:46.799> watch

and inflation in general so people watch

and inflation in general so people watch the<00:01:47.119> channel<00:01:47.439> a<00:01:47.600> lot<00:01:47.759> will<00:01:48.000> know<00:01:48.240> that<00:01:48.799> i've

the channel a lot will know that i've

the channel a lot will know that i've been<00:01:49.119> talking<00:01:49.520> about<00:01:49.759> inflation<00:01:50.399> it's<00:01:50.479> going

been talking about inflation it's going

been talking about inflation it's going to<00:01:50.720> happen<00:01:51.040> for<00:01:51.280> basically<00:01:51.600> since<00:01:51.840> the

to happen for basically since the

to happen for basically since the beginning<00:01:52.240> of<00:01:52.320> the<00:01:52.479> channel<00:01:52.799> essentially<00:01:53.280> the

beginning of the channel essentially the

beginning of the channel essentially the very<00:01:53.520> first<00:01:53.680> video<00:01:54.159> on<00:01:54.240> the<00:01:54.320> channel<00:01:54.640> was<00:01:54.799> like

very first video on the channel was like

very first video on the channel was like we're<00:01:55.439> printing<00:01:55.680> a<00:01:55.680> lot<00:01:55.840> of<00:01:55.920> money<00:01:56.240> it's<00:01:56.320> going

we're printing a lot of money it's going

we're printing a lot of money it's going to<00:01:56.719> the<00:01:56.799> rich<00:01:57.200> after<00:01:57.439> code<00:01:57.680> but<00:01:57.759> it's<00:01:57.840> going<00:01:57.920> to

to the rich after code but it's going to

to the rich after code but it's going to cause<00:01:58.240> inflation<00:01:59.200> and<00:01:59.360> i<00:01:59.680> think<00:01:59.840> this<00:02:00.079> is<00:02:00.560> a

cause inflation and i think this is a

cause inflation and i think this is a big<00:02:00.960> part<00:02:01.200> of<00:02:01.280> the<00:02:01.360> cause<00:02:01.600> of<00:02:01.759> all<00:02:01.840> the

big part of the cause of all the

big part of the cause of all the inflation<00:02:02.320> we're<00:02:02.479> seeing

inflation we're seeing

inflation we're seeing but<00:02:03.520> that's<00:02:03.759> not<00:02:03.920> the<00:02:04.159> main

but that's not the main

but that's not the main narrative<00:02:05.520> in<00:02:05.600> the<00:02:05.680> mainstream<00:02:06.079> media<00:02:06.399> which

narrative in the mainstream media which

narrative in the mainstream media which is<00:02:06.640> that<00:02:06.799> the<00:02:06.880> inflation<00:02:08.080> uh<00:02:08.479> in<00:02:08.640> general<00:02:09.039> but

is that the inflation uh in general but

is that the inflation uh in general but also<00:02:09.520> like<00:02:09.759> specifically<00:02:10.319> with<00:02:10.399> regards<00:02:10.720> to

also like specifically with regards to

also like specifically with regards to ukraine<00:02:11.360> is<00:02:11.520> caused<00:02:12.239> primarily<00:02:12.800> by<00:02:13.040> uh

ukraine is caused primarily by uh

ukraine is caused primarily by uh specifically<00:02:14.480> because<00:02:14.879> with<00:02:15.200> regards<00:02:15.520> to

specifically because with regards to

specifically because with regards to energy<00:02:16.239> it's<00:02:16.400> caused<00:02:16.640> specifically<00:02:17.120> by<00:02:17.280> the

energy it's caused specifically by the

energy it's caused specifically by the war<00:02:17.520> in<00:02:17.599> ukraine<00:02:18.000> right<00:02:18.319> the<00:02:18.480> war<00:02:18.640> in<00:02:18.720> ukraine

war in ukraine right the war in ukraine

war in ukraine right the war in ukraine is<00:02:19.120> causing<00:02:19.440> that<00:02:19.599> inflation<00:02:20.080> and<00:02:20.239> um<00:02:20.720> yeah<00:02:20.959> i

is causing that inflation and um yeah i

is causing that inflation and um yeah i think<00:02:21.200> it's<00:02:22.000> really<00:02:22.239> if<00:02:22.319> you<00:02:22.400> think<00:02:22.480> about<00:02:22.720> it

think it's really if you think about it

think it's really if you think about it obvious<00:02:23.280> like<00:02:24.000> as<00:02:24.160> a<00:02:24.239> whole<00:02:24.480> it<00:02:24.560> should<00:02:24.720> be

obvious like as a whole it should be

obvious like as a whole it should be obvious<00:02:25.200> that<00:02:25.440> that<00:02:25.599> is<00:02:25.680> not<00:02:25.840> the<00:02:25.920> sole<00:02:26.160> cause

obvious that that is not the sole cause

obvious that that is not the sole cause for<00:02:26.480> the<00:02:26.560> inflation<00:02:27.040> because<00:02:27.280> things<00:02:27.520> like

for the inflation because things like

for the inflation because things like for<00:02:27.840> example

for example

for example london<00:02:29.200> housing<00:02:29.599> and<00:02:29.760> the<00:02:29.840> london<00:02:30.160> rental

london housing and the london rental

london housing and the london rental market<00:02:30.800> are<00:02:30.879> blowing<00:02:31.280> up<00:02:31.519> right<00:02:31.680> like

market are blowing up right like

market are blowing up right like massively<00:02:32.640> prices<00:02:32.959> going<00:02:33.120> through<00:02:33.280> the<00:02:33.360> roof

massively prices going through the roof

massively prices going through the roof that's<00:02:34.160> obviously<00:02:34.560> not<00:02:34.720> to<00:02:34.800> do<00:02:34.959> with<00:02:35.040> the<00:02:35.120> war

that's obviously not to do with the war

that's obviously not to do with the war in<00:02:35.440> ukraine<00:02:36.000> but<00:02:36.239> if<00:02:36.400> you<00:02:36.480> talk<00:02:36.720> specifically

in ukraine but if you talk specifically

in ukraine but if you talk specifically about<00:02:37.440> energy

about energy

about energy you<00:02:39.040> know<00:02:39.360> russia<00:02:39.680> not<00:02:39.840> releasing<00:02:40.239> gas

you know russia not releasing gas

you know russia not releasing gas reserves<00:02:40.959> to<00:02:41.120> europe<00:02:41.519> is<00:02:41.680> probably<00:02:41.840> a<00:02:41.920> big

reserves to europe is probably a big

reserves to europe is probably a big part<00:02:42.239> of<00:02:42.400> it<00:02:42.480> right<00:02:42.640> so<00:02:42.720> there's<00:02:42.879> two<00:02:43.040> things

part of it right so there's two things

part of it right so there's two things going<00:02:43.440> on<00:02:43.440> at<00:02:43.519> the<00:02:43.599> same<00:02:43.840> time<00:02:44.239> which<00:02:44.480> is

going on at the same time which is

going on at the same time which is number<00:02:44.879> one<00:02:45.599> the<00:02:45.760> rich<00:02:46.400> were<00:02:46.560> given<00:02:47.120> an

number one the rich were given an

number one the rich were given an absolutely<00:02:48.000> ton<00:02:48.239> of<00:02:48.319> money<00:02:48.879> during<00:02:49.120> covid

absolutely ton of money during covid

absolutely ton of money during covid and<00:02:50.480> the<00:02:50.640> obvious<00:02:50.879> consequence<00:02:51.280> of<00:02:51.360> that<00:02:51.519> is

and the obvious consequence of that is

and the obvious consequence of that is inflation<00:02:52.400> but<00:02:52.560> number<00:02:52.800> two<00:02:53.040> in<00:02:53.120> some

inflation but number two in some

inflation but number two in some specific<00:02:53.760> markets<00:02:54.160> and<00:02:54.319> energy<00:02:54.640> is<00:02:54.959> the<00:02:55.040> most

specific markets and energy is the most

specific markets and energy is the most obvious<00:02:55.680> one<00:02:55.840> of<00:02:55.920> those<00:02:56.400> there<00:02:56.640> are<00:02:56.720> supply

obvious one of those there are supply

obvious one of those there are supply side<00:02:57.360> issues<00:02:57.680> where<00:02:58.000> for<00:02:58.159> example<00:02:58.480> russia<00:02:58.800> is

side issues where for example russia is

side issues where for example russia is not<00:02:59.280> selling<00:02:59.519> the<00:02:59.680> energy<00:02:59.920> and<00:03:00.000> that's<00:03:00.159> making

not selling the energy and that's making

not selling the energy and that's making energy<00:03:00.640> more<00:03:00.800> expensive<00:03:01.519> so<00:03:01.680> two<00:03:01.840> things<00:03:02.000> are

energy more expensive so two things are

energy more expensive so two things are happening<00:03:02.319> at<00:03:02.400> once<00:03:02.720> right<00:03:02.879> which<00:03:03.120> is<00:03:03.840> the

happening at once right which is the

happening at once right which is the rich<00:03:04.159> are<00:03:04.560> way<00:03:04.720> richer<00:03:05.120> so<00:03:05.280> they<00:03:05.360> can<00:03:05.519> pay<00:03:05.680> more

rich are way richer so they can pay more

rich are way richer so they can pay more money

money

money and

and

and energy<00:03:08.720> in<00:03:08.800> particular<00:03:09.280> the<00:03:09.440> supply<00:03:10.080> the

energy in particular the supply the

energy in particular the supply the amount<00:03:10.480> of<00:03:10.640> energy<00:03:10.959> that<00:03:11.040> we<00:03:11.280> actually<00:03:11.440> have

amount of energy that we actually have

amount of energy that we actually have access<00:03:11.840> to<00:03:12.000> has<00:03:12.080> been<00:03:12.239> restricted<00:03:12.720> right

access to has been restricted right

access to has been restricted right um

um

um so<00:03:15.920> this<00:03:16.159> is<00:03:16.319> really<00:03:16.879> problematic<00:03:17.440> right

so this is really problematic right

so this is really problematic right because

because

because we<00:03:18.720> already<00:03:19.120> know<00:03:19.519> that<00:03:19.760> rich<00:03:20.000> people<00:03:20.640> consume

we already know that rich people consume

we already know that rich people consume a<00:03:21.120> lot<00:03:21.280> of<00:03:21.360> energy<00:03:21.920> right

a lot of energy right

a lot of energy right and<00:03:23.120> then<00:03:23.519> we<00:03:23.680> have<00:03:23.840> a<00:03:23.920> situation<00:03:24.480> where<00:03:24.720> the

and then we have a situation where the

and then we have a situation where the rich<00:03:25.040> have<00:03:25.200> a<00:03:25.280> ton<00:03:25.519> of<00:03:25.599> money<00:03:26.319> and<00:03:26.400> the<00:03:26.560> country

rich have a ton of money and the country

rich have a ton of money and the country as<00:03:27.040> a<00:03:27.200> whole<00:03:27.440> has<00:03:27.599> not<00:03:27.760> much<00:03:28.000> energy<00:03:28.400> right<00:03:28.959> so

as a whole has not much energy right so

as a whole has not much energy right so if<00:03:30.480> you<00:03:30.720> know<00:03:31.040> that<00:03:31.200> there's<00:03:31.360> going<00:03:31.440> to<00:03:31.519> be<00:03:31.599> an

if you know that there's going to be an

if you know that there's going to be an energy<00:03:32.080> shortage<00:03:32.879> in<00:03:33.280> the<00:03:33.440> uk

energy shortage in the uk

energy shortage in the uk this<00:03:34.560> is<00:03:34.640> a<00:03:34.720> global<00:03:34.959> problem<00:03:35.280> but<00:03:35.440> we're

this is a global problem but we're

this is a global problem but we're talking<00:03:35.760> about<00:03:35.920> the<00:03:36.000> uk

talking about the uk

talking about the uk what<00:03:37.760> would<00:03:37.920> be<00:03:38.080> the<00:03:38.159> ideal<00:03:38.480> way<00:03:38.640> to<00:03:38.799> fix<00:03:39.040> it

what would be the ideal way to fix it

what would be the ideal way to fix it the<00:03:39.440> ideal<00:03:39.760> solution<00:03:40.480> well<00:03:40.959> you<00:03:41.040> know<00:03:41.280> most

the ideal solution well you know most

the ideal solution well you know most people<00:03:42.159> don't<00:03:42.400> use<00:03:42.560> like<00:03:42.799> much<00:03:43.040> more<00:03:43.280> energy

people don't use like much more energy

people don't use like much more energy than<00:03:43.680> they<00:03:43.840> need<00:03:44.159> right<00:03:44.400> you<00:03:44.560> know<00:03:45.040> maybe<00:03:45.280> they

than they need right you know maybe they

than they need right you know maybe they need<00:03:45.519> to<00:03:45.599> drive<00:03:45.760> to<00:03:45.920> work<00:03:46.159> you<00:03:46.239> know<00:03:46.480> but<00:03:46.720> most

need to drive to work you know but most

need to drive to work you know but most obviously<00:03:47.280> they<00:03:47.360> need<00:03:47.519> to<00:03:47.599> heat<00:03:47.760> their<00:03:47.920> homes

obviously they need to heat their homes

obviously they need to heat their homes you<00:03:48.400> know<00:03:48.959> and<00:03:49.599> most<00:03:49.840> people<00:03:50.080> don't<00:03:50.239> use<00:03:50.400> that

you know and most people don't use that

you know and most people don't use that much<00:03:50.720> more<00:03:50.879> energy<00:03:51.200> than<00:03:51.519> that<00:03:51.760> you<00:03:51.840> know

much more energy than that you know

much more energy than that you know especially<00:03:52.560> poorer<00:03:52.879> people<00:03:53.120> they'll<00:03:53.360> be<00:03:53.439> like

especially poorer people they'll be like

especially poorer people they'll be like very<00:03:54.319> you<00:03:54.400> know<00:03:54.560> i<00:03:54.959> know<00:03:55.120> growing<00:03:55.439> up<00:03:55.599> my<00:03:55.840> dad

very you know i know growing up my dad

very you know i know growing up my dad was<00:03:56.239> really<00:03:56.400> on<00:03:56.560> it<00:03:56.640> like<00:03:56.799> he<00:03:56.959> doesn't<00:03:57.120> want<00:03:57.200> to

was really on it like he doesn't want to

was really on it like he doesn't want to use

use

use any<00:03:58.480> extra<00:03:58.799> energy<00:03:59.040> right<00:03:59.200> because<00:03:59.360> he's

any extra energy right because he's

any extra energy right because he's trying<00:03:59.599> to<00:03:59.680> save<00:03:59.920> money<00:04:00.159> right<00:04:00.560> so<00:04:00.720> most

trying to save money right so most

trying to save money right so most people<00:04:01.200> are<00:04:01.280> just<00:04:01.439> using<00:04:01.599> the<00:04:01.680> energy<00:04:01.920> they

people are just using the energy they

people are just using the energy they need<00:04:02.400> maybe<00:04:02.640> like<00:04:02.799> a<00:04:02.879> little<00:04:03.040> bit<00:04:03.200> extra<00:04:03.439> in

need maybe like a little bit extra in

need maybe like a little bit extra in some<00:04:03.680> cases<00:04:04.080> right<00:04:04.480> and<00:04:04.560> then<00:04:04.720> the<00:04:04.959> rich<00:04:05.360> are

some cases right and then the rich are

some cases right and then the rich are literally<00:04:06.080> flying<00:04:06.319> around<00:04:06.560> in<00:04:06.640> private<00:04:06.959> jets

literally flying around in private jets

literally flying around in private jets right<00:04:07.680> so<00:04:07.840> if<00:04:07.920> you're<00:04:08.000> in<00:04:08.080> a<00:04:08.159> situation<00:04:08.720> where

right so if you're in a situation where

right so if you're in a situation where suddenly

suddenly

suddenly you<00:04:10.319> don't<00:04:10.480> have<00:04:10.560> enough<00:04:10.879> energy<00:04:11.599> what<00:04:11.760> do<00:04:11.840> you

you don't have enough energy what do you

you don't have enough energy what do you want<00:04:12.720> what's<00:04:13.040> what<00:04:13.200> should<00:04:13.360> you<00:04:13.519> do<00:04:13.599> as<00:04:13.760> a<00:04:14.000> so

want what's what should you do as a so

want what's what should you do as a so what<00:04:14.239> does<00:04:14.400> a<00:04:14.480> sensible<00:04:14.879> country<00:04:15.200> do<00:04:15.599> well<00:04:15.840> a

what does a sensible country do well a

what does a sensible country do well a sensible<00:04:16.320> country<00:04:16.560> turns<00:04:16.799> around<00:04:16.959> to<00:04:17.120> the

sensible country turns around to the

sensible country turns around to the guys<00:04:17.440> flying<00:04:17.759> around<00:04:18.000> in<00:04:18.079> private<00:04:18.479> jets<00:04:18.880> and

guys flying around in private jets and

guys flying around in private jets and says

says

says maybe<00:04:20.079> you<00:04:20.239> should<00:04:20.560> stop<00:04:20.880> flying<00:04:21.120> around<00:04:21.280> in

maybe you should stop flying around in

maybe you should stop flying around in private<00:04:21.680> jets

private jets

private jets but

but

but what<00:04:24.000> we<00:04:24.160> have<00:04:24.400> done<00:04:24.960> is<00:04:25.199> given<00:04:25.440> the<00:04:25.600> rich

what we have done is given the rich

what we have done is given the rich enormous<00:04:26.720> pile<00:04:26.960> of<00:04:27.120> money<00:04:28.000> so<00:04:28.240> you<00:04:28.400> know

enormous pile of money so you know

enormous pile of money so you know if<00:04:30.000> the<00:04:30.160> rich<00:04:30.400> have<00:04:30.560> just<00:04:30.720> been<00:04:30.800> given

if the rich have just been given

if the rich have just been given hundreds<00:04:31.440> of<00:04:31.520> millions<00:04:31.840> of<00:04:31.919> pounds<00:04:32.639> it's

hundreds of millions of pounds it's

hundreds of millions of pounds it's hundreds<00:04:33.520> of<00:04:33.600> billions<00:04:34.000> of<00:04:34.080> pounds<00:04:34.479> in<00:04:34.560> the

hundreds of billions of pounds in the

hundreds of billions of pounds in the case<00:04:34.880> of<00:04:34.960> this<00:04:35.120> country

case of this country

case of this country are<00:04:36.800> they<00:04:36.960> going<00:04:37.120> to<00:04:37.199> reduce<00:04:37.440> their<00:04:37.600> energy

are they going to reduce their energy

are they going to reduce their energy consumption<00:04:38.720> in<00:04:38.880> response<00:04:39.360> to<00:04:39.680> even<00:04:39.919> a

consumption in response to even a

consumption in response to even a doubling<00:04:40.320> in<00:04:40.479> price<00:04:41.040> that's<00:04:41.280> not<00:04:41.520> their

doubling in price that's not their

doubling in price that's not their energy<00:04:42.080> bills<00:04:42.320> are<00:04:42.479> nothing<00:04:42.800> to<00:04:42.880> them

energy bills are nothing to them

energy bills are nothing to them it's<00:04:44.240> meaningless<00:04:44.720> it's<00:04:44.880> a<00:04:45.040> tiny<00:04:45.840> tiny

it's meaningless it's a tiny tiny

it's meaningless it's a tiny tiny fraction<00:04:46.400> of<00:04:46.479> their<00:04:46.720> incomes<00:04:47.040> right

fraction of their incomes right

fraction of their incomes right so

so

so we've<00:04:49.520> created<00:04:49.759> a<00:04:49.840> situation<00:04:50.240> where<00:04:50.479> the

we've created a situation where the

we've created a situation where the thing<00:04:50.880> which<00:04:51.440> there's<00:04:51.600> not<00:04:51.759> enough<00:04:52.000> energy

thing which there's not enough energy

thing which there's not enough energy the<00:04:52.800> obvious<00:04:53.120> sensible<00:04:53.440> thing<00:04:53.600> we<00:04:53.680> should<00:04:53.759> do

the obvious sensible thing we should do

the obvious sensible thing we should do which<00:04:54.160> is<00:04:54.320> encourage<00:04:54.800> the<00:04:54.960> rich<00:04:55.280> or<00:04:55.440> perhaps

which is encourage the rich or perhaps

which is encourage the rich or perhaps even<00:04:56.320> force<00:04:56.639> the<00:04:56.800> rich<00:04:57.360> to<00:04:57.520> use<00:04:57.680> less<00:04:57.919> energy

even force the rich to use less energy

even force the rich to use less energy is<00:04:58.880> the<00:04:59.040> exact<00:04:59.280> opposite<00:04:59.600> of<00:04:59.759> what<00:04:59.840> we've<00:05:00.000> done

is the exact opposite of what we've done

is the exact opposite of what we've done what<00:05:00.560> we've<00:05:00.720> done<00:05:00.880> is<00:05:01.039> encourage<00:05:01.360> the<00:05:01.440> rich<00:05:01.680> to

what we've done is encourage the rich to

what we've done is encourage the rich to use<00:05:02.320> more<00:05:02.560> energy<00:05:02.800> by<00:05:02.960> giving<00:05:03.120> them<00:05:03.280> a<00:05:03.360> ton<00:05:03.520> of

use more energy by giving them a ton of

use more energy by giving them a ton of money<00:05:04.320> so<00:05:04.479> what<00:05:04.639> that<00:05:04.800> means<00:05:05.120> is

money so what that means is

money so what that means is the<00:05:06.320> people<00:05:06.639> who<00:05:06.800> have<00:05:06.960> to<00:05:07.120> respond<00:05:07.680> to<00:05:07.840> the

the people who have to respond to the

the people who have to respond to the energy<00:05:08.320> shortage<00:05:08.960> are<00:05:09.039> the<00:05:09.120> people<00:05:09.360> who<00:05:09.440> don't

energy shortage are the people who don't

energy shortage are the people who don't have<00:05:09.680> money<00:05:09.919> which<00:05:10.080> is<00:05:10.160> the<00:05:10.320> poor

have money which is the poor

have money which is the poor and<00:05:11.520> and<00:05:11.680> that<00:05:11.919> is<00:05:12.080> literally<00:05:12.479> not<00:05:12.720> heating

and and that is literally not heating

and and that is literally not heating your<00:05:13.120> homes<00:05:13.520> right<00:05:13.919> so<00:05:14.080> the<00:05:14.160> way<00:05:14.320> we're

your homes right so the way we're

your homes right so the way we're dealing<00:05:14.880> with<00:05:15.120> it

dealing with it

dealing with it from<00:05:17.360> like<00:05:17.520> a<00:05:17.600> perspective<00:05:18.160> of<00:05:18.240> just<00:05:18.479> like<00:05:19.199> do

from like a perspective of just like do

from like a perspective of just like do you<00:05:19.440> want<00:05:19.600> people<00:05:19.759> in<00:05:19.840> the<00:05:19.919> country<00:05:20.240> to<00:05:20.320> have

you want people in the country to have

you want people in the country to have like<00:05:20.800> good<00:05:21.039> quality<00:05:21.280> livable<00:05:21.680> lives<00:05:22.000> it's

like good quality livable lives it's

like good quality livable lives it's ridiculous<00:05:23.120> right<00:05:23.600> we've<00:05:23.759> dealt<00:05:23.919> with<00:05:24.000> it<00:05:24.160> in

ridiculous right we've dealt with it in

ridiculous right we've dealt with it in such<00:05:24.400> a<00:05:24.400> way<00:05:24.560> that<00:05:24.639> we<00:05:24.800> encouraging<00:05:25.280> the<00:05:25.360> rich

such a way that we encouraging the rich

such a way that we encouraging the rich to<00:05:25.680> fly<00:05:25.840> their<00:05:26.000> private<00:05:26.320> jets<00:05:26.560> more<00:05:27.039> because

to fly their private jets more because

to fly their private jets more because we<00:05:27.360> give<00:05:27.440> them<00:05:27.600> a<00:05:27.680> ton<00:05:27.840> of<00:05:27.919> money<00:05:28.400> and

we give them a ton of money and

we give them a ton of money and encouraging<00:05:28.960> the<00:05:29.039> poor<00:05:29.280> to<00:05:29.440> like<00:05:29.840> freeze

encouraging the poor to like freeze

encouraging the poor to like freeze their<00:05:30.560> families<00:05:30.960> in<00:05:31.039> the<00:05:31.120> winter

their families in the winter

their families in the winter so<00:05:32.320> exact<00:05:32.639> opposite<00:05:32.960> what<00:05:33.039> we<00:05:33.120> should<00:05:33.280> be

so exact opposite what we should be

so exact opposite what we should be doing<00:05:33.600> right

doing right

doing right it's<00:05:35.440> it's<00:05:35.600> ridiculous<00:05:36.080> right<00:05:36.240> and<00:05:36.479> and<00:05:36.560> then

it's it's ridiculous right and and then

it's it's ridiculous right and and then now<00:05:37.520> let's<00:05:37.759> look<00:05:38.000> at<00:05:38.080> what<00:05:38.240> is<00:05:38.400> like<00:05:38.560> the<00:05:38.720> most

now let's look at what is like the most

now let's look at what is like the most commonly<00:05:39.199> proposed<00:05:39.600> solution<00:05:40.080> right<00:05:40.479> the

commonly proposed solution right the

commonly proposed solution right the most<00:05:40.800> commonly<00:05:41.120> proposed<00:05:41.440> solution<00:05:41.840> is<00:05:41.919> to<00:05:42.240> to

most commonly proposed solution is to to

most commonly proposed solution is to to do<00:05:42.560> something<00:05:42.800> to<00:05:42.960> directly<00:05:43.280> reduce<00:05:43.600> the<00:05:43.680> cost

do something to directly reduce the cost

do something to directly reduce the cost of<00:05:44.080> energy<00:05:44.400> right<00:05:44.960> and<00:05:45.120> you<00:05:45.199> can<00:05:45.360> see<00:05:45.600> the

of energy right and you can see the

of energy right and you can see the logic<00:05:46.000> in<00:05:46.080> that<00:05:46.240> right<00:05:46.479> it's<00:05:46.560> like<00:05:47.199> the<00:05:47.360> cost

logic in that right it's like the cost

logic in that right it's like the cost the<00:05:47.840> price<00:05:48.080> of<00:05:48.160> energy<00:05:48.479> has<00:05:48.560> gone<00:05:48.800> up<00:05:49.280> so<00:05:49.440> we

the price of energy has gone up so we

the price of energy has gone up so we need<00:05:49.680> to<00:05:49.759> bring<00:05:49.919> the<00:05:50.000> price<00:05:50.240> of<00:05:50.320> energy<00:05:50.639> down

need to bring the price of energy down

need to bring the price of energy down so<00:05:51.360> what<00:05:51.520> can<00:05:51.680> you<00:05:51.840> bring<00:05:51.919> the<00:05:52.000> price<00:05:52.160> of

so what can you bring the price of

so what can you bring the price of energy<00:05:52.639> down<00:05:53.120> and<00:05:53.759> that<00:05:53.919> is<00:05:54.080> like

energy down and that is like

energy down and that is like totally<00:05:55.680> you<00:05:55.840> can<00:05:55.919> see<00:05:56.080> the<00:05:56.160> logic<00:05:56.479> in<00:05:56.560> it<00:05:56.639> but

totally you can see the logic in it but

totally you can see the logic in it but it's<00:05:56.960> actually<00:05:57.280> not<00:05:57.520> a<00:05:57.600> great<00:05:57.759> idea<00:05:58.000> and<00:05:58.080> i'll

it's actually not a great idea and i'll

it's actually not a great idea and i'll explain<00:05:59.039> why<00:05:59.440> okay<00:05:59.840> so

explain why okay so

explain why okay so there's<00:06:01.039> this<00:06:01.199> concept<00:06:01.600> in<00:06:01.680> economics<00:06:02.160> some

there's this concept in economics some

there's this concept in economics some people<00:06:02.800> will<00:06:02.960> have<00:06:03.039> heard<00:06:03.280> of<00:06:03.360> it<00:06:03.440> some<00:06:03.600> people

people will have heard of it some people

people will have heard of it some people would<00:06:03.919> have<00:06:04.000> not<00:06:04.240> heard<00:06:04.400> of<00:06:04.479> it<00:06:04.560> called<00:06:04.720> a

would have not heard of it called a

would have not heard of it called a universal<00:06:05.360> basic<00:06:05.680> income

universal basic income

universal basic income and<00:06:06.720> universal<00:06:07.199> basic<00:06:07.440> income<00:06:07.680> is<00:06:07.759> basically

and universal basic income is basically

and universal basic income is basically the<00:06:08.080> idea<00:06:08.319> that<00:06:08.400> the<00:06:08.479> government<00:06:08.800> should<00:06:08.960> give

the idea that the government should give

the idea that the government should give everyone<00:06:09.840> a<00:06:09.919> certain<00:06:10.160> amount<00:06:10.400> of<00:06:10.479> money<00:06:11.280> every

everyone a certain amount of money every

everyone a certain amount of money every month<00:06:12.240> every<00:06:12.479> year<00:06:12.960> and<00:06:13.199> everyone<00:06:13.520> should<00:06:13.680> get

month every year and everyone should get

month every year and everyone should get it<00:06:14.000> it<00:06:14.080> should<00:06:14.240> be<00:06:14.319> like<00:06:14.479> totally

it it should be like totally

it it should be like totally unconditional<00:06:15.280> everybody<00:06:15.600> should<00:06:15.759> get<00:06:15.840> that

unconditional everybody should get that

unconditional everybody should get that money<00:06:16.560> and<00:06:16.880> you<00:06:16.960> know<00:06:17.039> the<00:06:17.199> idea<00:06:17.440> behind<00:06:17.759> it<00:06:17.840> is

money and you know the idea behind it is

money and you know the idea behind it is you<00:06:18.000> know<00:06:18.160> this<00:06:18.400> gives<00:06:18.720> everyone<00:06:19.039> the<00:06:19.120> basic

you know this gives everyone the basic

you know this gives everyone the basic ability<00:06:19.759> to<00:06:19.919> live<00:06:20.000> like<00:06:20.160> a<00:06:20.319> basic<00:06:21.120> quality<00:06:21.440> of

ability to live like a basic quality of

ability to live like a basic quality of life<00:06:21.919> right

life right

life right and<00:06:23.120> we'll<00:06:23.280> probably<00:06:23.520> discuss<00:06:24.000> in<00:06:24.080> this<00:06:24.319> in

and we'll probably discuss in this in

and we'll probably discuss in this in more<00:06:24.479> detail<00:06:24.720> on<00:06:24.800> another<00:06:25.039> video<00:06:25.360> but<00:06:25.440> the

more detail on another video but the

more detail on another video but the reason<00:06:25.759> i<00:06:25.840> want<00:06:25.919> to<00:06:26.000> bring<00:06:26.160> up<00:06:26.319> at<00:06:26.400> this<00:06:26.560> point

reason i want to bring up at this point

reason i want to bring up at this point is<00:06:27.520> a<00:06:27.680> universal<00:06:28.160> basic<00:06:28.479> income<00:06:28.720> gives

is a universal basic income gives

is a universal basic income gives everybody<00:06:29.440> in<00:06:29.520> the<00:06:29.600> country<00:06:29.840> the<00:06:29.919> same<00:06:30.080> amount

everybody in the country the same amount

everybody in the country the same amount of<00:06:30.319> money<00:06:30.800> okay

of money okay

of money okay and<00:06:32.080> it's<00:06:32.240> an<00:06:32.400> interesting<00:06:32.880> thing

and it's an interesting thing

and it's an interesting thing when<00:06:33.919> the<00:06:34.000> government<00:06:34.319> starts<00:06:34.560> giving<00:06:34.800> out

when the government starts giving out

when the government starts giving out money<00:06:35.600> it's<00:06:35.840> interesting<00:06:36.240> to<00:06:36.319> compare<00:06:36.720> it<00:06:36.800> to

money it's interesting to compare it to

money it's interesting to compare it to your<00:06:37.120> universal<00:06:37.520> basic<00:06:37.840> income<00:06:38.639> because<00:06:38.800> then

your universal basic income because then

your universal basic income because then we<00:06:39.120> can<00:06:39.199> see<00:06:39.360> who's<00:06:39.520> winning<00:06:39.759> who's<00:06:40.000> losing

we can see who's winning who's losing

we can see who's winning who's losing you<00:06:40.400> know<00:06:40.560> if<00:06:40.720> everybody<00:06:41.039> gets<00:06:41.199> the<00:06:41.360> same<00:06:41.840> then

you know if everybody gets the same then

you know if everybody gets the same then it's<00:06:42.160> kind<00:06:42.319> of<00:06:42.479> equal<00:06:42.800> right<00:06:43.440> so<00:06:43.600> we<00:06:43.759> can<00:06:43.919> say

it's kind of equal right so we can say

it's kind of equal right so we can say is<00:06:44.319> this<00:06:44.560> policy<00:06:45.120> better<00:06:45.520> or<00:06:45.759> worse<00:06:46.560> than<00:06:46.800> a

is this policy better or worse than a

is this policy better or worse than a universal<00:06:47.360> basic<00:06:47.600> income<00:06:48.080> people<00:06:48.240> call<00:06:48.400> it

universal basic income people call it

universal basic income people call it ubi<00:06:49.360> in<00:06:49.440> terms<00:06:49.680> of<00:06:49.840> inequality<00:06:50.560> distribution

ubi in terms of inequality distribution

ubi in terms of inequality distribution so<00:06:51.919> if<00:06:52.000> the<00:06:52.160> policy<00:06:52.479> gives<00:06:52.720> more<00:06:52.880> to<00:06:53.039> the<00:06:53.120> rich

so if the policy gives more to the rich

so if the policy gives more to the rich it's<00:06:53.599> worse<00:06:53.840> than<00:06:54.080> ebi

it's worse than ebi

it's worse than ebi from

from

from the<00:06:56.080> perspective<00:06:56.479> of<00:06:56.560> inequality<00:06:57.599> and<00:06:57.759> if

the perspective of inequality and if

the perspective of inequality and if a<00:06:58.880> policy<00:06:59.199> gives<00:06:59.440> more<00:06:59.599> to<00:06:59.759> the<00:06:59.840> poor<00:07:00.479> or<00:07:00.720> to

a policy gives more to the poor or to

a policy gives more to the poor or to ordinary<00:07:01.280> people<00:07:01.520> unless<00:07:01.759> they're<00:07:01.919> rich<00:07:02.400> is

ordinary people unless they're rich is

ordinary people unless they're rich is better<00:07:02.800> than<00:07:02.880> a<00:07:02.960> ubi<00:07:03.599> that<00:07:03.840> making<00:07:04.080> sense<00:07:04.319> to

better than a ubi that making sense to

better than a ubi that making sense to you

you

you so<00:07:05.919> if<00:07:06.080> we<00:07:06.240> look<00:07:06.479> at<00:07:06.800> a<00:07:06.880> policy<00:07:07.280> which<00:07:07.520> reduces

so if we look at a policy which reduces

so if we look at a policy which reduces energy<00:07:08.639> prices

energy prices

energy prices is<00:07:10.160> that<00:07:10.319> better<00:07:10.639> or<00:07:10.720> worse<00:07:10.960> than<00:07:11.120> ebi<00:07:12.000> well<00:07:12.240> we

is that better or worse than ebi well we

is that better or worse than ebi well we know<00:07:13.039> rich<00:07:13.280> people<00:07:13.520> use<00:07:13.680> more<00:07:13.919> energy<00:07:14.639> so<00:07:14.800> if

know rich people use more energy so if

know rich people use more energy so if we<00:07:15.039> bring<00:07:15.199> energy<00:07:15.520> prices<00:07:16.000> down<00:07:16.800> you<00:07:17.039> benefit

we bring energy prices down you benefit

we bring energy prices down you benefit exactly<00:07:18.319> proportionally<00:07:18.960> to<00:07:19.039> how<00:07:19.199> much

exactly proportionally to how much

exactly proportionally to how much energy<00:07:19.680> you<00:07:19.840> use<00:07:20.080> right<00:07:20.720> like<00:07:20.960> if<00:07:21.120> you<00:07:21.280> use

energy you use right like if you use

energy you use right like if you use if<00:07:23.039> you<00:07:23.199> normally<00:07:23.599> spend

if you normally spend

if you normally spend 1<00:07:25.039> 000<00:07:25.199> pounds<00:07:25.440> of<00:07:25.599> energy<00:07:25.840> a<00:07:26.000> year<00:07:26.319> and<00:07:26.400> we

1 000 pounds of energy a year and we

1 000 pounds of energy a year and we bring<00:07:26.720> the<00:07:26.800> energy<00:07:27.039> price<00:07:27.280> down<00:07:27.520> 10<00:07:28.080> you<00:07:28.160> save

bring the energy price down 10 you save

bring the energy price down 10 you save 100<00:07:28.800> pounds<00:07:29.440> if<00:07:29.599> you're<00:07:29.759> super<00:07:30.080> rich<00:07:30.319> and

100 pounds if you're super rich and

100 pounds if you're super rich and you've<00:07:30.479> got<00:07:30.639> 10<00:07:30.800> private<00:07:31.120> jets<00:07:31.360> and<00:07:31.440> you

you've got 10 private jets and you

you've got 10 private jets and you normally<00:07:31.840> spend<00:07:32.000> 100<00:07:32.400> grand<00:07:32.720> on<00:07:32.880> energy

normally spend 100 grand on energy

normally spend 100 grand on energy then<00:07:34.240> you're<00:07:34.400> going<00:07:34.560> to<00:07:34.639> save

then you're going to save

then you're going to save 10<00:07:35.680> grand<00:07:36.160> right<00:07:36.880> so

10 grand right so

10 grand right so bringing<00:07:39.199> energy<00:07:39.520> prices<00:07:39.919> down

bringing energy prices down

bringing energy prices down actually<00:07:41.120> helps<00:07:41.440> the<00:07:41.599> rich<00:07:41.919> much<00:07:42.240> more<00:07:42.720> than

actually helps the rich much more than

actually helps the rich much more than the<00:07:43.039> poor<00:07:43.280> in<00:07:43.360> terms<00:07:43.599> of<00:07:43.680> the<00:07:43.759> actual<00:07:44.000> amount

the poor in terms of the actual amount

the poor in terms of the actual amount of<00:07:44.240> money<00:07:44.479> they<00:07:44.639> save<00:07:45.120> right

of money they save right

of money they save right so<00:07:46.479> say<00:07:46.720> we<00:07:46.960> we<00:07:47.120> bring<00:07:47.280> in<00:07:47.360> a<00:07:47.440> ubi<00:07:47.840> that's<00:07:48.080> going

so say we we bring in a ubi that's going

so say we we bring in a ubi that's going to<00:07:48.319> cost

to cost

to cost so<00:07:50.400> we<00:07:50.560> bring<00:07:50.639> in<00:07:50.800> a<00:07:50.879> we<00:07:51.039> reduce<00:07:51.360> energy<00:07:51.599> bills

so we bring in a we reduce energy bills

so we bring in a we reduce energy bills in<00:07:51.919> such<00:07:52.080> that<00:07:52.240> it<00:07:52.319> cost<00:07:52.479> the<00:07:52.560> government<00:07:52.879> 20

in such that it cost the government 20

in such that it cost the government 20 billion<00:07:53.680> pounds

billion pounds

billion pounds well<00:07:54.800> that<00:07:54.960> money<00:07:55.199> will<00:07:55.440> go<00:07:55.840> more<00:07:56.000> to<00:07:56.160> the<00:07:56.240> rich

well that money will go more to the rich

well that money will go more to the rich than<00:07:56.560> what<00:07:56.639> to<00:07:56.800> the<00:07:56.879> poor<00:07:57.280> and<00:07:57.440> you'd<00:07:57.680> actually

than what to the poor and you'd actually

than what to the poor and you'd actually give<00:07:58.080> the<00:07:58.160> people<00:07:58.400> who<00:07:58.560> needed<00:07:58.960> the<00:07:59.039> money

give the people who needed the money

give the people who needed the money more

more

more more<00:08:00.639> money<00:08:01.120> if<00:08:01.280> you<00:08:01.360> just<00:08:01.440> gave<00:08:01.680> them<00:08:01.840> a<00:08:01.919> flat

more money if you just gave them a flat

more money if you just gave them a flat amount<00:08:02.479> of<00:08:02.560> money<00:08:03.360> but<00:08:03.680> also

amount of money but also

amount of money but also if<00:08:04.800> you<00:08:04.960> reduce<00:08:05.360> energy<00:08:05.680> bills<00:08:06.479> you<00:08:06.639> encourage

if you reduce energy bills you encourage

if you reduce energy bills you encourage people

people

people to<00:08:08.479> use<00:08:08.639> more<00:08:08.800> energy

to use more energy

to use more energy because<00:08:10.319> you<00:08:10.400> make<00:08:10.560> energy<00:08:10.879> cheaper<00:08:11.680> in<00:08:11.919> a

because you make energy cheaper in a

because you make energy cheaper in a situation<00:08:12.800> where<00:08:12.960> there's<00:08:13.120> not<00:08:13.280> enough

situation where there's not enough

situation where there's not enough energy<00:08:13.759> to<00:08:13.840> go<00:08:14.000> around<00:08:14.639> so<00:08:14.879> actually<00:08:15.280> like

energy to go around so actually like

energy to go around so actually like this<00:08:16.720> policy<00:08:17.120> which<00:08:17.360> seems<00:08:17.599> initially<00:08:18.000> like

this policy which seems initially like

this policy which seems initially like the<00:08:18.400> most<00:08:18.639> sensible<00:08:19.039> policy<00:08:19.440> which<00:08:19.599> is<00:08:19.759> energy

the most sensible policy which is energy

the most sensible policy which is energy bills<00:08:20.240> have<00:08:20.319> gone<00:08:20.400> up<00:08:20.479> let's<00:08:20.639> bring<00:08:20.800> energy

bills have gone up let's bring energy

bills have gone up let's bring energy bills<00:08:21.280> down<00:08:22.000> is<00:08:22.160> actually

bills down is actually

bills down is actually really<00:08:23.680> bad<00:08:23.840> from<00:08:24.000> a<00:08:24.080> distributional

really bad from a distributional

really bad from a distributional perspective<00:08:25.039> it's<00:08:25.199> worse<00:08:25.440> than<00:08:25.520> just<00:08:25.680> giving

perspective it's worse than just giving

perspective it's worse than just giving out<00:08:26.080> money

out money

out money and<00:08:27.520> also<00:08:27.919> really<00:08:28.160> bad<00:08:28.400> from<00:08:28.560> a<00:08:28.639> saving<00:08:28.960> energy

and also really bad from a saving energy

and also really bad from a saving energy perspective<00:08:29.919> it's<00:08:30.160> encouraging<00:08:30.639> people<00:08:30.960> to

perspective it's encouraging people to

perspective it's encouraging people to use<00:08:31.199> more<00:08:31.360> energy

use more energy

use more energy so<00:08:33.200> it's

so it's

so it's it's<00:08:34.719> a<00:08:34.800> horrible<00:08:35.200> policy<00:08:36.000> it<00:08:36.159> seems<00:08:36.399> like<00:08:36.479> a

it's a horrible policy it seems like a

it's a horrible policy it seems like a good<00:08:36.719> policy<00:08:37.039> but<00:08:37.200> it's<00:08:37.279> a<00:08:37.360> horrible<00:08:37.680> policy

good policy but it's a horrible policy

good policy but it's a horrible policy right<00:08:38.640> and<00:08:38.800> i<00:08:38.880> think<00:08:39.919> what<00:08:40.080> you<00:08:40.320> actually<00:08:40.640> want

right and i think what you actually want

right and i think what you actually want from<00:08:41.039> a<00:08:41.120> policy<00:08:42.000> if<00:08:42.159> you<00:08:42.320> know<00:08:42.560> that<00:08:43.120> the<00:08:43.279> rich

from a policy if you know that the rich

from a policy if you know that the rich are<00:08:43.919> getting<00:08:44.159> really<00:08:44.399> richer<00:08:45.200> and<00:08:45.360> the<00:08:45.519> poor

are getting really richer and the poor

are getting really richer and the poor are<00:08:45.839> really<00:08:46.000> struggling<00:08:46.480> and<00:08:46.640> we<00:08:46.720> don't<00:08:46.880> have

are really struggling and we don't have

are really struggling and we don't have enough<00:08:47.279> energy<00:08:47.839> what<00:08:48.080> you<00:08:48.240> want<00:08:48.399> from<00:08:48.640> a

enough energy what you want from a

enough energy what you want from a policy<00:08:49.519> is<00:08:49.680> a<00:08:49.760> policy<00:08:50.160> that<00:08:50.320> discourages

policy is a policy that discourages

policy is a policy that discourages usage<00:08:52.000> of<00:08:52.160> energy<00:08:52.800> from<00:08:53.040> everyone<00:08:54.000> but

usage of energy from everyone but

usage of energy from everyone but particularly<00:08:54.720> from<00:08:54.880> the<00:08:55.040> rich<00:08:55.680> because<00:08:55.920> they

particularly from the rich because they

particularly from the rich because they are<00:08:56.160> the<00:08:56.320> people<00:08:56.480> who<00:08:56.720> are<00:08:56.800> using<00:08:57.040> the<00:08:57.120> most

are the people who are using the most

are the people who are using the most wasteful<00:08:57.760> energy

wasteful energy

wasteful energy and<00:08:58.959> one<00:08:59.200> that<00:08:59.360> distributes

and one that distributes

and one that distributes income<00:09:00.959> away<00:09:01.200> from<00:09:01.360> the<00:09:01.519> rich

income away from the rich

income away from the rich because<00:09:02.720> they're<00:09:03.040> making<00:09:03.360> a<00:09:03.440> fortune<00:09:03.920> when

because they're making a fortune when

because they're making a fortune when people<00:09:04.320> are<00:09:04.399> struggling<00:09:04.800> and<00:09:04.880> towards<00:09:05.200> the

people are struggling and towards the

people are struggling and towards the people<00:09:05.440> that<00:09:05.600> need<00:09:05.839> it<00:09:06.000> right<00:09:06.560> so<00:09:06.720> what<00:09:06.880> you

people that need it right so what you

people that need it right so what you actually<00:09:07.279> want<00:09:07.440> to<00:09:07.519> do<00:09:07.839> the<00:09:08.000> perfect<00:09:08.399> policy

actually want to do the perfect policy

actually want to do the perfect policy is<00:09:10.160> actually<00:09:10.480> really<00:09:10.800> the<00:09:11.040> exact<00:09:11.360> opposite

is actually really the exact opposite

is actually really the exact opposite policy<00:09:12.080> what<00:09:12.240> we're<00:09:12.399> doing<00:09:12.560> right<00:09:12.800> what<00:09:12.959> you

policy what we're doing right what you

policy what we're doing right what you want<00:09:13.200> to<00:09:13.279> do<00:09:13.920> is<00:09:14.080> you<00:09:14.160> want<00:09:14.320> to<00:09:14.399> put<00:09:14.560> a<00:09:14.640> tax<00:09:14.880> on

want to do is you want to put a tax on

want to do is you want to put a tax on energy<00:09:15.279> consumption

energy consumption

energy consumption and<00:09:17.200> then<00:09:17.279> you<00:09:17.440> want<00:09:17.519> to<00:09:17.680> use<00:09:17.920> that<00:09:18.080> money

and then you want to use that money

and then you want to use that money to<00:09:19.760> support<00:09:20.080> the<00:09:20.160> poor

to support the poor

to support the poor because<00:09:21.839> if<00:09:22.080> what<00:09:22.240> that<00:09:22.399> would<00:09:22.480> do<00:09:22.640> is<00:09:22.720> bring

because if what that would do is bring

because if what that would do is bring energy<00:09:23.200> price<00:09:23.519> up

energy price up

energy price up and<00:09:24.959> that<00:09:25.120> will<00:09:25.279> discourage<00:09:25.839> energy<00:09:26.160> usage

and that will discourage energy usage

and that will discourage energy usage from<00:09:26.720> everyone<00:09:27.279> which<00:09:27.519> is<00:09:27.600> good<00:09:28.240> but<00:09:28.399> it<00:09:28.480> will

from everyone which is good but it will

from everyone which is good but it will also<00:09:29.120> funnel<00:09:29.440> money<00:09:29.680> away<00:09:30.000> from<00:09:30.160> the<00:09:30.320> high

also funnel money away from the high

also funnel money away from the high energy<00:09:30.959> users<00:09:31.680> which<00:09:31.920> is<00:09:32.000> the<00:09:32.160> rich

energy users which is the rich

energy users which is the rich to<00:09:33.279> the<00:09:33.440> low<00:09:33.680> energy<00:09:34.000> users<00:09:34.560> which<00:09:34.800> is

to the low energy users which is

to the low energy users which is ordinary<00:09:35.360> people<00:09:35.600> and<00:09:35.680> poor<00:09:36.000> families<00:09:36.880> which

ordinary people and poor families which

ordinary people and poor families which means<00:09:37.279> that<00:09:37.519> even<00:09:37.680> though<00:09:37.760> their<00:09:37.920> energy<00:09:38.240> bill

means that even though their energy bill

means that even though their energy bill has<00:09:38.480> gone<00:09:38.720> up<00:09:39.040> they<00:09:39.200> will<00:09:39.360> get<00:09:39.600> more

has gone up they will get more

has gone up they will get more from<00:09:41.200> this<00:09:41.440> tax

from this tax

from this tax because<00:09:43.120> we<00:09:43.279> know<00:09:43.440> that<00:09:43.519> they<00:09:43.680> use<00:09:43.839> less<00:09:44.080> than

because we know that they use less than

because we know that they use less than the<00:09:44.240> average<00:09:44.560> amount<00:09:44.720> of<00:09:44.880> energy<00:09:45.200> right

the average amount of energy right

the average amount of energy right and<00:09:46.480> um

and um

and um it's<00:09:48.160> interesting<00:09:48.560> because<00:09:48.800> it's

it's interesting because it's

it's interesting because it's counterintuitive<00:09:49.519> right<00:09:49.680> like<00:09:49.839> ordinary

counterintuitive right like ordinary

counterintuitive right like ordinary people<00:09:50.399> be<00:09:50.480> like<00:09:50.640> you<00:09:50.720> need<00:09:50.880> to<00:09:50.959> bring<00:09:51.120> that

people be like you need to bring that

people be like you need to bring that you<00:09:51.360> need<00:09:51.440> to<00:09:51.519> bring<00:09:51.680> the<00:09:51.760> bills<00:09:52.000> they<00:09:52.160> need<00:09:52.240> to

you need to bring the bills they need to

you need to bring the bills they need to bring<00:09:52.480> the<00:09:52.560> bills<00:09:52.800> down<00:09:53.120> but<00:09:53.279> what<00:09:53.600> all<00:09:53.760> the

bring the bills down but what all the

bring the bills down but what all the new<00:09:54.080> people<00:09:54.320> need<00:09:54.480> is<00:09:54.640> not<00:09:54.800> necessarily

new people need is not necessarily

new people need is not necessarily cheaper<00:09:55.839> energy<00:09:56.160> bills<00:09:56.800> it's<00:09:57.279> more<00:09:57.519> money

cheaper energy bills it's more money

cheaper energy bills it's more money they<00:09:58.800> need<00:09:58.959> more<00:09:59.120> money

they need more money

they need more money you<00:10:00.160> know<00:10:00.320> and<00:10:00.399> then

you know and then

you know and then some<00:10:02.399> poor<00:10:02.720> people<00:10:02.959> might<00:10:03.200> be<00:10:03.360> able<00:10:03.600> to

some poor people might be able to

some poor people might be able to economize<00:10:04.399> on<00:10:04.560> their<00:10:04.720> energy<00:10:04.959> usage<00:10:05.760> if<00:10:05.920> they

economize on their energy usage if they

economize on their energy usage if they had<00:10:06.240> more<00:10:06.560> if<00:10:06.640> they<00:10:06.720> had<00:10:06.880> more<00:10:07.040> money<00:10:07.600> in<00:10:07.760> other

had more if they had more money in other

had more if they had more money in other ways<00:10:08.320> you<00:10:08.399> know<00:10:08.480> what<00:10:08.560> i<00:10:08.640> mean

ways you know what i mean

ways you know what i mean and<00:10:09.680> then<00:10:09.760> that<00:10:09.920> would<00:10:10.000> be<00:10:10.079> good<00:10:10.240> for<00:10:10.399> society

and then that would be good for society

and then that would be good for society as<00:10:10.880> a<00:10:10.959> whole<00:10:11.279> but<00:10:11.440> the<00:10:11.519> policy<00:10:11.920> what<00:10:12.079> we<00:10:12.160> have

as a whole but the policy what we have

as a whole but the policy what we have at<00:10:12.399> the<00:10:12.480> moment

at the moment

at the moment is<00:10:13.839> actively<00:10:14.320> funneling<00:10:14.880> money<00:10:15.200> to<00:10:15.360> the<00:10:15.440> rich

is actively funneling money to the rich

is actively funneling money to the rich and<00:10:16.480> encouraging<00:10:16.959> them<00:10:17.279> to<00:10:17.360> use<00:10:17.519> more<00:10:17.600> energy

and encouraging them to use more energy

and encouraging them to use more energy at<00:10:18.560> the<00:10:18.640> time<00:10:18.880> when<00:10:19.040> the<00:10:19.200> rich<00:10:19.440> have<00:10:19.680> a<00:10:19.760> ton<00:10:19.920> of

at the time when the rich have a ton of

at the time when the rich have a ton of money

money

money the<00:10:21.200> poor<00:10:21.440> are<00:10:21.519> really<00:10:21.680> struggling<00:10:22.399> and<00:10:22.560> we're

the poor are really struggling and we're

the poor are really struggling and we're using<00:10:22.959> too<00:10:23.120> much<00:10:23.360> energy

using too much energy

using too much energy so

so

so i<00:10:25.680> think<00:10:25.920> this<00:10:26.079> is<00:10:26.160> sort<00:10:26.320> of<00:10:26.480> a<00:10:26.560> good<00:10:26.720> example

i think this is sort of a good example

i think this is sort of a good example of<00:10:27.200> how

of how

of how the

the

the the<00:10:29.760> economics<00:10:30.160> media<00:10:30.399> which<00:10:30.560> i<00:10:30.640> spoke<00:10:30.800> about

the economics media which i spoke about

the economics media which i spoke about in<00:10:31.040> other<00:10:31.200> videos<00:10:31.839> um

in other videos um

in other videos um very<00:10:33.279> simplistic<00:10:33.680> approach<00:10:34.000> to<00:10:34.079> things

very simplistic approach to things

very simplistic approach to things and<00:10:35.120> i<00:10:35.200> think<00:10:35.279> the<00:10:35.440> key<00:10:35.680> thing<00:10:35.920> is

and i think the key thing is

and i think the key thing is never<00:10:37.200> takes<00:10:37.440> a<00:10:37.519> distributional<00:10:38.079> approach

never takes a distributional approach

never takes a distributional approach and<00:10:38.720> i<00:10:38.800> think<00:10:38.959> this<00:10:39.279> idea<00:10:39.760> which<00:10:39.920> i've

and i think this idea which i've

and i think this idea which i've introduced<00:10:40.399> here<00:10:40.560> in<00:10:40.640> this<00:10:40.800> video<00:10:41.360> compare<00:10:41.760> it

introduced here in this video compare it

introduced here in this video compare it to<00:10:41.920> a<00:10:42.000> ubi<00:10:42.560> compared<00:10:42.959> to<00:10:43.040> universal<00:10:43.440> basic

to a ubi compared to universal basic

to a ubi compared to universal basic income<00:10:44.560> is

income is

income is a<00:10:45.519> really<00:10:45.920> interesting<00:10:46.240> way<00:10:46.480> to<00:10:46.720> really

a really interesting way to really

a really interesting way to really assess<00:10:47.200> whether<00:10:47.440> a<00:10:47.440> policy<00:10:47.760> is<00:10:47.839> good<00:10:48.079> or<00:10:48.160> not

assess whether a policy is good or not

assess whether a policy is good or not because<00:10:49.680> if<00:10:49.920> a<00:10:50.000> policy<00:10:50.800> benefits<00:10:51.200> the<00:10:51.360> rich

because if a policy benefits the rich

because if a policy benefits the rich more<00:10:51.760> than<00:10:51.920> the<00:10:52.079> poor

more than the poor

more than the poor then<00:10:53.519> why<00:10:53.680> not<00:10:53.839> just<00:10:54.000> give<00:10:54.240> money<00:10:54.959> equally

then why not just give money equally

then why not just give money equally you'd<00:10:55.920> be<00:10:56.079> better<00:10:56.240> and<00:10:56.399> it's<00:10:56.560> easier

you'd be better and it's easier

you'd be better and it's easier you<00:10:57.600> know<00:10:58.160> it's<00:10:58.320> easier<00:10:58.640> it's<00:10:58.800> cheaper<00:10:59.120> it's

you know it's easier it's cheaper it's

you know it's easier it's cheaper it's direct<00:10:59.680> money<00:10:59.839> into<00:11:00.000> my<00:11:00.160> bank<00:11:00.399> account<00:11:00.720> you

direct money into my bank account you

direct money into my bank account you know<00:11:00.880> what<00:11:00.959> i<00:11:01.040> mean<00:11:01.279> like<00:11:01.680> would<00:11:01.839> you<00:11:02.079> rather

know what i mean like would you rather

know what i mean like would you rather as<00:11:02.560> an<00:11:02.959> a<00:11:03.120> poor<00:11:03.360> family<00:11:04.000> would<00:11:04.160> you<00:11:04.320> rather

as an a poor family would you rather

as an a poor family would you rather have<00:11:04.800> your<00:11:05.279> energy<00:11:05.600> bills<00:11:05.920> reduced<00:11:06.640> in<00:11:06.800> a<00:11:06.880> way

have your energy bills reduced in a way

have your energy bills reduced in a way that<00:11:07.279> saves<00:11:07.600> you

that saves you

that saves you 200<00:11:09.519> pounds<00:11:09.839> a<00:11:09.920> year<00:11:10.399> or<00:11:10.560> would<00:11:10.800> you<00:11:10.880> rather

200 pounds a year or would you rather

200 pounds a year or would you rather have<00:11:11.360> 1<00:11:11.680> 000<00:11:11.839> pounds<00:11:12.079> in<00:11:12.160> your<00:11:12.240> bank<00:11:12.480> account

have 1 000 pounds in your bank account

have 1 000 pounds in your bank account every<00:11:13.519> year

every year

every year you<00:11:15.040> see<00:11:15.200> what<00:11:15.279> i'm<00:11:15.360> saying<00:11:15.760> and<00:11:16.000> this<00:11:16.160> is<00:11:16.320> what

you see what i'm saying and this is what

you see what i'm saying and this is what if<00:11:17.120> we<00:11:17.360> actually<00:11:18.160> start<00:11:18.399> looking<00:11:18.640> at<00:11:18.720> policies

if we actually start looking at policies

if we actually start looking at policies from<00:11:19.279> a<00:11:19.360> distributional<00:11:19.839> perspective<00:11:20.480> and

from a distributional perspective and

from a distributional perspective and saying<00:11:20.880> look<00:11:21.279> who<00:11:21.519> are<00:11:21.680> we<00:11:21.839> really<00:11:22.079> helping

saying look who are we really helping

saying look who are we really helping here

here

here then<00:11:23.600> we<00:11:23.760> will<00:11:23.839> bring<00:11:24.079> policies<00:11:24.399> which

then we will bring policies which

then we will bring policies which actually<00:11:24.880> help<00:11:25.120> ordinary<00:11:25.519> families<00:11:26.320> and<00:11:26.480> you

actually help ordinary families and you

actually help ordinary families and you know

know

know we<00:11:27.440> have<00:11:27.680> this<00:11:28.320> problem<00:11:28.800> structural<00:11:29.279> problem

we have this problem structural problem

we have this problem structural problem in<00:11:29.680> our<00:11:29.760> politics<00:11:30.079> in<00:11:30.160> our<00:11:30.320> media<00:11:30.959> which<00:11:31.200> is

in our politics in our media which is

in our politics in our media which is increasingly<00:11:32.079> our<00:11:32.240> politics<00:11:32.640> is<00:11:32.720> dominated

increasingly our politics is dominated

increasingly our politics is dominated by<00:11:33.360> very<00:11:33.680> very<00:11:33.839> very<00:11:34.079> wealthy<00:11:34.399> people

by very very very wealthy people

by very very very wealthy people our<00:11:35.519> media<00:11:36.000> is<00:11:36.160> owned<00:11:36.560> and<00:11:36.720> dominated<00:11:37.120> by<00:11:37.360> very

our media is owned and dominated by very

our media is owned and dominated by very very<00:11:37.760> very<00:11:37.920> wealthy<00:11:38.240> people

very very wealthy people

very very wealthy people so<00:11:39.440> then<00:11:39.680> they<00:11:39.920> behind<00:11:40.240> the<00:11:40.399> scenes<00:11:40.720> are

so then they behind the scenes are

so then they behind the scenes are promoting<00:11:41.120> policies<00:11:41.519> that<00:11:41.600> help<00:11:41.760> them<00:11:42.320> and

promoting policies that help them and

promoting policies that help them and they're<00:11:42.640> telling<00:11:42.959> you<00:11:43.600> that<00:11:43.760> it's<00:11:43.920> good<00:11:44.079> for

they're telling you that it's good for

they're telling you that it's good for you

you

you and<00:11:45.519> the<00:11:45.600> way<00:11:45.760> which<00:11:46.000> you<00:11:46.079> can<00:11:46.160> defend

and the way which you can defend

and the way which you can defend yourself<00:11:46.800> from<00:11:46.959> that<00:11:47.200> is<00:11:47.279> this<00:11:47.440> simple<00:11:48.079> trick

yourself from that is this simple trick

yourself from that is this simple trick which<00:11:48.640> is<00:11:49.200> look<00:11:49.440> at<00:11:49.519> the<00:11:49.600> policy<00:11:50.240> is<00:11:50.399> a<00:11:50.480> better

which is look at the policy is a better

which is look at the policy is a better than<00:11:50.800> ubi<00:11:51.360> and<00:11:51.519> it's<00:11:51.839> it's<00:11:52.000> also<00:11:52.399> relevant

than ubi and it's it's also relevant

than ubi and it's it's also relevant with<00:11:52.959> regards<00:11:53.360> to

with regards to

with regards to the<00:11:54.880> conservative<00:11:55.680> leadership<00:11:56.079> elections

the conservative leadership elections

the conservative leadership elections right<00:11:56.560> because<00:11:56.720> all<00:11:56.880> of<00:11:56.959> these<00:11:57.040> guys<00:11:57.200> are

right because all of these guys are

right because all of these guys are promising<00:11:57.680> tax<00:11:57.920> cuts<00:11:58.160> tax<00:11:58.399> cuts<00:11:58.639> tax<00:11:58.959> cuts

promising tax cuts tax cuts tax cuts

promising tax cuts tax cuts tax cuts right<00:11:59.839> and<00:12:00.000> this<00:12:00.160> is<00:12:00.240> in<00:12:00.399> a<00:12:00.480> context<00:12:00.880> where

right and this is in a context where

right and this is in a context where they<00:12:01.279> have

they have

they have cut<00:12:02.560> income<00:12:02.880> tax<00:12:03.120> and<00:12:03.279> raised<00:12:03.519> national

cut income tax and raised national

cut income tax and raised national insurance<00:12:04.720> which<00:12:04.880> is<00:12:05.040> a<00:12:05.120> really<00:12:05.360> interesting

insurance which is a really interesting

insurance which is a really interesting like

like

like like<00:12:07.440> a<00:12:07.600> trick<00:12:08.079> to<00:12:08.160> do<00:12:08.399> because<00:12:08.720> people<00:12:08.959> don't

like a trick to do because people don't

like a trick to do because people don't like<00:12:09.360> income<00:12:09.680> tax<00:12:09.920> but<00:12:10.079> people<00:12:10.240> don't

like income tax but people don't

like income tax but people don't understand<00:12:10.800> national<00:12:11.120> insurance<00:12:11.839> and<00:12:11.920> when

understand national insurance and when

understand national insurance and when you<00:12:12.240> understand<00:12:12.639> that<00:12:12.880> income<00:12:13.120> tax<00:12:13.279> is<00:12:13.360> paid

you understand that income tax is paid

you understand that income tax is paid on<00:12:13.760> all<00:12:14.000> income<00:12:14.800> and<00:12:14.959> national<00:12:15.279> trade<00:12:15.440> is<00:12:15.519> paid

on all income and national trade is paid

on all income and national trade is paid only<00:12:15.920> on<00:12:16.079> worked<00:12:16.480> income<00:12:17.120> you<00:12:17.279> can<00:12:17.360> see<00:12:17.519> that

only on worked income you can see that

only on worked income you can see that what<00:12:17.760> they've<00:12:17.920> done<00:12:18.160> is<00:12:18.480> they've<00:12:18.720> cut<00:12:18.880> taxes

what they've done is they've cut taxes

what they've done is they've cut taxes on<00:12:19.360> billionaires<00:12:19.920> and<00:12:20.079> raised<00:12:20.320> taxes<00:12:20.639> on<00:12:20.800> you

on billionaires and raised taxes on you

on billionaires and raised taxes on you because<00:12:21.519> you<00:12:22.079> your<00:12:22.320> money<00:12:22.560> all<00:12:22.639> comes<00:12:22.800> from

because you your money all comes from

because you your money all comes from your<00:12:23.200> working<00:12:23.680> and<00:12:24.000> their<00:12:24.160> money<00:12:24.399> comes<00:12:24.639> from

your working and their money comes from

your working and their money comes from wealth<00:12:25.200> right<00:12:25.839> and<00:12:26.000> if<00:12:26.079> you<00:12:26.160> were<00:12:26.320> to<00:12:26.480> just<00:12:26.560> say

wealth right and if you were to just say

wealth right and if you were to just say okay<00:12:26.959> well

okay well

okay well would<00:12:28.480> it<00:12:28.560> be<00:12:28.639> better<00:12:28.800> just<00:12:28.959> to<00:12:29.040> give<00:12:29.200> money

would it be better just to give money

would it be better just to give money out<00:12:29.519> equally<00:12:30.399> then<00:12:30.560> you'll<00:12:30.720> see<00:12:30.880> okay<00:12:31.120> all<00:12:31.200> of

out equally then you'll see okay all of

out equally then you'll see okay all of these<00:12:31.440> policies<00:12:32.399> are<00:12:32.560> continually<00:12:33.279> designed

these policies are continually designed

these policies are continually designed to<00:12:34.079> funnel<00:12:34.320> money<00:12:34.560> to<00:12:34.720> the<00:12:34.800> rich

to funnel money to the rich

to funnel money to the rich so<00:12:35.839> whenever<00:12:36.560> whenever<00:12:36.880> they<00:12:37.120> suggest<00:12:37.440> the

so whenever whenever they suggest the

so whenever whenever they suggest the policies<00:12:37.839> that<00:12:37.920> they're<00:12:38.000> suggesting<00:12:38.480> now

policies that they're suggesting now

policies that they're suggesting now which<00:12:39.120> is<00:12:39.279> cut<00:12:39.440> taxes<00:12:39.760> cut<00:12:40.000> taxes<00:12:40.720> well<00:12:40.959> who

which is cut taxes cut taxes well who

which is cut taxes cut taxes well who who<00:12:41.600> benefits<00:12:42.000> most<00:12:42.160> from<00:12:42.320> cutting<00:12:42.560> taxes

who benefits most from cutting taxes

who benefits most from cutting taxes generally<00:12:43.920> richer<00:12:44.240> people

generally richer people

generally richer people so<00:12:45.440> look<00:12:45.600> at<00:12:45.680> their<00:12:45.839> policies<00:12:46.320> and<00:12:46.399> say<00:12:46.560> look

so look at their policies and say look

so look at their policies and say look are<00:12:47.360> these<00:12:47.519> policies<00:12:48.000> designed<00:12:48.320> to<00:12:48.480> benefit

are these policies designed to benefit

are these policies designed to benefit ordinary<00:12:49.200> families<00:12:49.600> or<00:12:49.680> are<00:12:49.839> they<00:12:49.920> designed

ordinary families or are they designed

ordinary families or are they designed to<00:12:50.240> benefit<00:12:50.560> the<00:12:50.639> rich

to benefit the rich

to benefit the rich and

and

and understand<00:12:53.360> that<00:12:53.600> they<00:12:53.760> have<00:12:54.000> incentives<00:12:55.040> to

understand that they have incentives to

understand that they have incentives to try<00:12:55.360> and<00:12:55.519> convince<00:12:55.920> you

try and convince you

try and convince you that<00:12:56.959> policies<00:12:57.279> which<00:12:57.440> are<00:12:57.519> good<00:12:57.680> for<00:12:57.760> the

that policies which are good for the

that policies which are good for the rich<00:12:58.079> are<00:12:58.160> actually<00:12:58.320> good<00:12:58.480> for<00:12:58.639> you

rich are actually good for you

rich are actually good for you so<00:12:59.519> compare<00:12:59.920> it<00:13:00.079> to<00:13:00.160> a<00:13:00.240> basic<00:13:00.560> simple<00:13:00.880> policy

so compare it to a basic simple policy

so compare it to a basic simple policy and<00:13:01.279> say<00:13:01.360> who<00:13:01.519> benefits<00:13:01.920> the<00:13:02.000> most

and say who benefits the most

and say who benefits the most and<00:13:03.440> in<00:13:03.600> this<00:13:03.760> case<00:13:04.000> when<00:13:04.160> it<00:13:04.240> comes<00:13:04.399> to<00:13:04.480> energy

and in this case when it comes to energy

and in this case when it comes to energy prices<00:13:05.279> cutting<00:13:06.000> energy<00:13:06.320> prices<00:13:06.639> directly

prices cutting energy prices directly

prices cutting energy prices directly actually<00:13:07.120> benefits<00:13:07.519> the<00:13:07.600> rich<00:13:07.839> most<00:13:08.399> whereas

actually benefits the rich most whereas

actually benefits the rich most whereas there<00:13:08.880> are<00:13:09.120> other<00:13:09.360> alternative<00:13:09.839> options<00:13:10.560> such

there are other alternative options such

there are other alternative options such as<00:13:11.040> taxes<00:13:11.440> on<00:13:11.600> energy<00:13:12.000> where<00:13:12.160> the<00:13:12.320> money<00:13:12.639> is

as taxes on energy where the money is

as taxes on energy where the money is used<00:13:13.279> given<00:13:13.519> directly<00:13:13.920> back<00:13:14.079> to<00:13:14.240> ordinary

used given directly back to ordinary

used given directly back to ordinary families<00:13:15.360> that<00:13:15.519> will<00:13:15.760> benefit<00:13:16.160> you<00:13:16.320> more

families that will benefit you more

families that will benefit you more that<00:13:17.680> will<00:13:18.160> transfer<00:13:18.560> money<00:13:18.880> from<00:13:19.040> the<00:13:19.120> rich

that will transfer money from the rich

that will transfer money from the rich to<00:13:19.600> the<00:13:19.680> poor

to the poor

to the poor and<00:13:20.720> to<00:13:20.880> ordinary<00:13:21.360> families

and to ordinary families

and to ordinary families and

and

and will<00:13:24.079> actually<00:13:24.320> reduce<00:13:24.639> energy<00:13:24.880> consumption

will actually reduce energy consumption

will actually reduce energy consumption and<00:13:25.839> and<00:13:26.000> this<00:13:26.240> is

and and this is

and and this is not<00:13:27.600> a<00:13:27.680> complicated<00:13:28.079> policy<00:13:28.480> but

not a complicated policy but

not a complicated policy but unfortunately<00:13:29.680> you<00:13:29.760> know

unfortunately you know

unfortunately you know we<00:13:31.680> have<00:13:31.839> a<00:13:31.920> media<00:13:32.240> which<00:13:32.399> is<00:13:32.560> in<00:13:32.639> very<00:13:32.880> cases

we have a media which is in very cases

we have a media which is in very cases very<00:13:33.600> many<00:13:33.839> cases<00:13:34.240> not<00:13:34.480> great<00:13:34.639> quality<00:13:34.959> and

very many cases not great quality and

very many cases not great quality and it's<00:13:35.120> not<00:13:35.279> giving<00:13:35.360> you<00:13:35.440> good<00:13:35.600> information<00:13:36.079> so

it's not giving you good information so

it's not giving you good information so um

um

um so<00:13:37.600> yeah<00:13:37.760> i<00:13:37.839> think<00:13:38.000> that's<00:13:38.399> that's<00:13:38.800> that's<00:13:39.040> the

so yeah i think that's that's that's the

so yeah i think that's that's that's the message<00:13:39.440> i<00:13:39.519> want<00:13:39.600> to<00:13:39.680> leave<00:13:39.920> is<00:13:40.079> um<00:13:40.800> i<00:13:40.880> think

message i want to leave is um i think

message i want to leave is um i think this<00:13:41.199> is<00:13:41.440> like<00:13:41.920> one<00:13:42.160> quick<00:13:42.560> one<00:13:42.800> quick<00:13:43.120> trick

this is like one quick one quick trick

this is like one quick one quick trick to<00:13:43.600> analyze

to analyze

to analyze a<00:13:45.120> policy<00:13:45.519> suggestion<00:13:46.160> who<00:13:46.399> benefits<00:13:46.800> the

a policy suggestion who benefits the

a policy suggestion who benefits the most<00:13:47.199> in<00:13:47.279> terms<00:13:47.519> of<00:13:47.680> cash<00:13:48.160> who<00:13:48.480> benefits<00:13:48.959> the

most in terms of cash who benefits the

most in terms of cash who benefits the most<00:13:49.279> in<00:13:49.360> terms<00:13:49.600> of<00:13:49.680> cash<00:13:50.079> is<00:13:50.240> it<00:13:50.320> you<00:13:50.880> is<00:13:51.040> it

most in terms of cash is it you is it

most in terms of cash is it you is it your<00:13:51.279> family<00:13:51.680> is<00:13:51.839> it<00:13:51.920> ordinary<00:13:52.399> families<00:13:53.199> in

your family is it ordinary families in

your family is it ordinary families in order<00:13:53.600> no<00:13:53.760> financial<00:13:54.079> situations<00:13:55.199> or<00:13:55.360> is<00:13:55.519> it

order no financial situations or is it

order no financial situations or is it the<00:13:55.680> rich<00:13:56.399> and<00:13:56.639> directly<00:13:56.959> reducing<00:13:57.360> energy

the rich and directly reducing energy

the rich and directly reducing energy bills<00:13:58.160> benefits<00:13:58.560> to<00:13:58.720> rich<00:13:58.880> the<00:13:58.959> most<00:13:59.760> and

bills benefits to rich the most and

bills benefits to rich the most and cutting<00:14:00.320> taxes<00:14:01.040> benefits<00:14:01.440> the<00:14:01.519> rich<00:14:01.760> the<00:14:01.839> most

cutting taxes benefits the rich the most

cutting taxes benefits the rich the most whereas<00:14:02.880> putting<00:14:03.199> taxes<00:14:03.519> on<00:14:03.680> energy

whereas putting taxes on energy

whereas putting taxes on energy consumption<00:14:04.720> and<00:14:04.880> giving<00:14:05.120> that<00:14:05.279> money<00:14:05.600> back

consumption and giving that money back

consumption and giving that money back to<00:14:06.240> everyone<00:14:06.560> equally

to everyone equally

to everyone equally would<00:14:07.839> benefit<00:14:08.160> you<00:14:08.240> would<00:14:08.320> benefit<00:14:08.560> ordinary

would benefit you would benefit ordinary

would benefit you would benefit ordinary families<00:14:09.120> not<00:14:09.279> only<00:14:09.440> family<00:14:09.760> would<00:14:09.920> benefit

families not only family would benefit

families not only family would benefit more<00:14:10.399> from<00:14:10.639> you<00:14:11.040> so<00:14:11.279> um

more from you so um

more from you so um yeah

yeah

yeah hopefully<00:14:13.600> this<00:14:13.760> gives<00:14:14.000> people<00:14:14.240> a<00:14:14.320> way<00:14:14.480> to

hopefully this gives people a way to

hopefully this gives people a way to sort<00:14:14.800> of<00:14:14.959> understand<00:14:15.360> better<00:14:16.000> how<00:14:16.160> we<00:14:16.320> can<00:14:16.399> fix

sort of understand better how we can fix

sort of understand better how we can fix our<00:14:16.800> problems<00:14:17.680> and<00:14:17.839> i<00:14:17.920> think<00:14:18.079> the<00:14:18.160> key

our problems and i think the key

our problems and i think the key takeaway<00:14:18.720> message<00:14:19.040> is<00:14:19.199> just<00:14:19.519> whenever<00:14:19.920> you

takeaway message is just whenever you

takeaway message is just whenever you hear<00:14:20.240> any<00:14:20.399> policy<00:14:20.800> suggested<00:14:21.279> by<00:14:21.440> government

hear any policy suggested by government

hear any policy suggested by government any<00:14:22.959> government<00:14:23.279> but<00:14:23.519> perhaps<00:14:23.920> especially

any government but perhaps especially

any government but perhaps especially this<00:14:25.279> conservative<00:14:25.760> government<00:14:26.079> which<00:14:26.320> has

this conservative government which has

this conservative government which has a<00:14:27.600> lot<00:14:27.760> of<00:14:27.839> very<00:14:28.000> very<00:14:28.160> wealthy<00:14:28.399> people<00:14:28.720> in<00:14:28.839> it

a lot of very very wealthy people in it

a lot of very very wealthy people in it look<00:14:30.560> at<00:14:30.720> it<00:14:31.120> explicitly

look at it explicitly

look at it explicitly from<00:14:34.160> the<00:14:34.240> perspective<00:14:34.800> of<00:14:34.880> distribution

from the perspective of distribution

from the perspective of distribution who<00:14:36.639> wins<00:14:36.880> the<00:14:36.959> most<00:14:37.360> is<00:14:37.519> it<00:14:37.600> the<00:14:37.680> rich<00:14:38.079> or<00:14:38.240> is

who wins the most is it the rich or is

who wins the most is it the rich or is it<00:14:38.480> ordinary<00:14:38.800> families<00:14:39.199> and<00:14:39.360> if<00:14:39.440> it's<00:14:39.600> the

it ordinary families and if it's the

it ordinary families and if it's the rich<00:14:39.920> ask<00:14:40.079> yourself<00:14:40.399> why<00:14:40.720> is<00:14:40.800> that<00:14:40.959> the<00:14:41.120> policy

rich ask yourself why is that the policy

rich ask yourself why is that the policy i've<00:14:41.519> chosen

i've chosen

i've chosen okay<00:14:43.600> that's<00:14:43.839> it<00:14:44.000> um

okay that's it um

okay that's it um i<00:14:44.959> hope<00:14:45.199> everyone<00:14:45.440> enjoyed<00:14:45.680> the<00:14:45.760> heatwave

i hope everyone enjoyed the heatwave

i hope everyone enjoyed the heatwave this<00:14:46.240> will<00:14:46.320> probably<00:14:46.560> come<00:14:46.720> out<00:14:46.800> a<00:14:46.800> few<00:14:46.959> weeks

this will probably come out a few weeks

this will probably come out a few weeks after<00:14:47.519> it

after it

after it will<00:14:49.680> go<00:14:49.839> inside<00:14:50.160> because<00:14:50.399> i'm<00:14:50.800> sweating<00:14:51.120> my

will go inside because i'm sweating my

will go inside because i'm sweating my ass<00:14:51.920> off

so<00:14:55.120> it's<00:14:55.279> intentionally<00:14:55.839> designed<00:14:56.480> national

so it's intentionally designed national

so it's intentionally designed national insurance<00:14:57.519> so<00:14:57.680> that<00:14:57.920> very<00:14:58.240> rich<00:14:58.560> people<00:14:59.120> pay<00:14:59.360> a

insurance so that very rich people pay a

insurance so that very rich people pay a very<00:14:59.600> low<00:14:59.839> percent

very low percent

very low percent there<00:15:01.440> is<00:15:01.600> one<00:15:01.839> other<00:15:02.000> thing<00:15:02.160> they<00:15:02.320> can<00:15:02.480> do

there is one other thing they can do

there is one other thing they can do with<00:15:02.800> that<00:15:02.959> mass<00:15:03.199> amount<00:15:03.440> of<00:15:03.519> income

with that mass amount of income

with that mass amount of income they<00:15:04.959> can<00:15:05.120> buy<00:15:05.279> your<00:15:05.360> mom's<00:15:05.600> house

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