[Music]

[Music]

[Music] lbc<00:00:04.480> news<00:00:04.720> time<00:00:04.960> 6<00:00:05.200> 31<00:00:05.600> it's<00:00:05.680> chris<00:00:05.920> golds<00:00:06.160> with

lbc news time 6 31 it's chris golds with

lbc news time 6 31 it's chris golds with you<00:00:06.399> here

you here

you here live<00:00:07.040> across<00:00:07.200> the<00:00:07.359> uk<00:00:07.919> uh<00:00:08.240> this<00:00:08.480> thursday

live across the uk uh this thursday

live across the uk uh this thursday evening<00:00:09.760> we're<00:00:10.000> on

evening we're on

evening we're on dab<00:00:10.800> digital<00:00:11.120> radio<00:00:11.440> on<00:00:11.519> your<00:00:11.599> smart<00:00:11.840> speaker

dab digital radio on your smart speaker

dab digital radio on your smart speaker and<00:00:12.320> on<00:00:12.400> global<00:00:12.799> player<00:00:13.120> of<00:00:13.280> course

and on global player of course

and on global player of course um<00:00:14.960> the<00:00:15.200> fuzzy<00:00:15.519> 100<00:00:15.920> has<00:00:16.240> ended<00:00:16.560> the

um the fuzzy 100 has ended the

um the fuzzy 100 has ended the penultimate<00:00:17.359> day<00:00:17.520> of<00:00:17.600> trading<00:00:17.840> this<00:00:18.000> week<00:00:18.240> in

penultimate day of trading this week in

penultimate day of trading this week in the<00:00:18.400> red<00:00:18.640> down<00:00:18.960> 41<00:00:19.760> points<00:00:20.080> at<00:00:20.439> 65.26<00:00:21.520> we'll

the red down 41 points at 65.26 we'll

the red down 41 points at 65.26 we'll find<00:00:21.840> out<00:00:21.920> where<00:00:22.080> it<00:00:22.160> opens<00:00:22.480> with

find out where it opens with

find out where it opens with lisa<00:00:23.119> aziz<00:00:23.920> at<00:00:24.080> about<00:00:24.320> eight<00:00:24.480> o'clock

lisa aziz at about eight o'clock

lisa aziz at about eight o'clock tomorrow<00:00:25.039> morning<00:00:25.279> she<00:00:25.439> is<00:00:25.599> of<00:00:25.680> course

tomorrow morning she is of course

tomorrow morning she is of course live<00:00:26.720> uh<00:00:26.960> on<00:00:27.199> breakfast<00:00:27.920> from<00:00:28.560> six

live uh on breakfast from six

live uh on breakfast from six now<00:00:29.840> uh<00:00:30.080> if<00:00:30.160> you've<00:00:30.320> been<00:00:30.480> on<00:00:30.640> social<00:00:30.960> media<00:00:31.439> uh

now uh if you've been on social media uh

now uh if you've been on social media uh over<00:00:31.920> the<00:00:32.000> last<00:00:32.239> 24-48<00:00:33.040> hours<00:00:33.440> or<00:00:33.520> so<00:00:33.680> you<00:00:33.760> will

over the last 24-48 hours or so you will

over the last 24-48 hours or so you will have<00:00:34.000> seen<00:00:34.239> this<00:00:34.480> story<00:00:34.880> but

have seen this story but

have seen this story but maybe<00:00:35.760> you've<00:00:36.000> been<00:00:36.239> slightly<00:00:36.559> confused<00:00:37.040> by

maybe you've been slightly confused by

maybe you've been slightly confused by it<00:00:37.440> i<00:00:37.520> know<00:00:37.760> i<00:00:37.920> have

it i know i have

it i know i have and<00:00:39.120> it's<00:00:39.440> market<00:00:39.840> regulators<00:00:40.320> in<00:00:40.399> the<00:00:40.480> us

and it's market regulators in the us

and it's market regulators in the us that<00:00:41.200> are<00:00:41.360> going<00:00:41.440> to<00:00:41.600> review<00:00:41.920> this<00:00:42.160> rally<00:00:42.480> and

that are going to review this rally and

that are going to review this rally and shares<00:00:42.879> of<00:00:42.960> the<00:00:43.120> struggling<00:00:43.520> retailer

shares of the struggling retailer

shares of the struggling retailer gamestop<00:00:44.719> following<00:00:45.039> an

gamestop following an

gamestop following an internet<00:00:45.840> campaign<00:00:46.879> stocks<00:00:47.280> have<00:00:47.360> risen<00:00:47.680> over

internet campaign stocks have risen over

internet campaign stocks have risen over 1700<00:00:49.520> in<00:00:49.680> the<00:00:50.160> past<00:00:50.480> couple<00:00:50.719> of<00:00:50.800> weeks<00:00:51.039> mostly

1700 in the past couple of weeks mostly

1700 in the past couple of weeks mostly driven<00:00:51.760> by<00:00:51.920> users<00:00:52.320> of<00:00:52.399> the<00:00:52.640> social<00:00:52.960> media

driven by users of the social media

driven by users of the social media platform<00:00:53.760> reddit

platform reddit

platform reddit they<00:00:54.480> were<00:00:54.640> trying<00:00:54.879> to<00:00:54.960> show<00:00:55.120> how<00:00:55.440> easy<00:00:55.760> it<00:00:55.920> is

they were trying to show how easy it is

they were trying to show how easy it is to<00:00:56.399> manipulate<00:00:57.120> the<00:00:57.199> system

to manipulate the system

to manipulate the system confused<00:00:58.800> well<00:00:59.039> let's<00:00:59.199> try<00:00:59.359> and<00:00:59.520> break<00:00:59.680> it

confused well let's try and break it

confused well let's try and break it down<00:01:00.000> for<00:01:00.079> you<00:01:00.239> here<00:01:00.640> on<00:01:00.879> lbc<00:01:01.280> news<00:01:01.440> i'd<00:01:01.520> like

down for you here on lbc news i'd like

down for you here on lbc news i'd like to<00:01:01.760> say<00:01:01.840> i'm<00:01:01.920> joined<00:01:02.160> by

to say i'm joined by

to say i'm joined by gary<00:01:03.280> stevenson<00:01:03.920> who<00:01:04.080> joins<00:01:04.479> us<00:01:04.879> now<00:01:05.040> he's<00:01:05.199> an

gary stevenson who joins us now he's an

gary stevenson who joins us now he's an ex-city<00:01:05.840> trader<00:01:06.240> and<00:01:06.479> is<00:01:06.640> now<00:01:06.880> an<00:01:06.960> economist

ex-city trader and is now an economist

ex-city trader and is now an economist uh

uh

uh evening<00:01:08.320> to<00:01:08.400> you<00:01:08.560> gary<00:01:09.600> hi<00:01:09.760> chris<00:01:10.240> so<00:01:10.400> what<00:01:10.640> has

evening to you gary hi chris so what has

evening to you gary hi chris so what has gone<00:01:10.960> on<00:01:11.119> here<00:01:11.360> what<00:01:11.600> sparked

gone on here what sparked

gone on here what sparked it<00:01:12.320> why<00:01:12.640> gamestop<00:01:13.360> what's<00:01:13.680> going<00:01:13.920> on<00:01:14.240> give<00:01:14.400> us

it why gamestop what's going on give us

it why gamestop what's going on give us a<00:01:14.640> detail

a detail

a detail okay<00:01:16.159> so<00:01:16.400> first<00:01:16.640> give<00:01:16.880> you<00:01:16.960> a<00:01:16.960> little<00:01:17.119> bit<00:01:17.200> of

okay so first give you a little bit of

okay so first give you a little bit of background<00:01:17.840> the<00:01:18.000> us<00:01:18.320> is<00:01:18.400> obviously<00:01:18.720> going

background the us is obviously going

background the us is obviously going through<00:01:19.119> a<00:01:19.200> very<00:01:19.360> similar<00:01:19.840> massive<00:01:20.159> covid

through a very similar massive covid

through a very similar massive covid epidemic<00:01:21.040> like<00:01:21.280> we<00:01:21.439> are

epidemic like we are

epidemic like we are a<00:01:22.080> lot<00:01:22.240> of<00:01:22.240> people<00:01:22.560> lost<00:01:22.720> their<00:01:22.880> jobs<00:01:23.200> a<00:01:23.280> lot<00:01:23.439> of

a lot of people lost their jobs a lot of

a lot of people lost their jobs a lot of people<00:01:23.680> lost<00:01:23.920> incomes<00:01:24.240> a<00:01:24.320> lot<00:01:24.479> of<00:01:24.560> people<00:01:24.720> are

people lost incomes a lot of people are

people lost incomes a lot of people are sitting<00:01:25.119> at<00:01:25.200> home<00:01:25.360> unable<00:01:25.680> to<00:01:25.840> work<00:01:26.159> and<00:01:26.320> the

sitting at home unable to work and the

sitting at home unable to work and the government's<00:01:26.799> been<00:01:26.960> sending<00:01:27.200> out<00:01:27.360> stimulus

government's been sending out stimulus

government's been sending out stimulus checks<00:01:28.080> to<00:01:28.240> support<00:01:28.479> these<00:01:28.720> people

checks to support these people

checks to support these people now<00:01:29.759> at<00:01:29.840> the<00:01:30.000> same<00:01:30.240> time<00:01:30.640> the<00:01:30.799> u.s<00:01:31.119> stock

now at the same time the u.s stock

now at the same time the u.s stock market<00:01:31.759> has<00:01:31.920> been<00:01:32.079> on<00:01:32.159> an<00:01:32.479> absolute<00:01:32.960> surge

market has been on an absolute surge

market has been on an absolute surge it's<00:01:33.439> nearly<00:01:33.680> doubled<00:01:34.079> in<00:01:34.240> the<00:01:34.320> last

it's nearly doubled in the last

it's nearly doubled in the last um<00:01:35.200> nine<00:01:35.439> months<00:01:36.000> and<00:01:36.159> some<00:01:36.400> stocks<00:01:36.640> like

um nine months and some stocks like

um nine months and some stocks like tesla<00:01:37.119> have<00:01:37.200> gone<00:01:37.360> up<00:01:37.439> nearly<00:01:37.840> six<00:01:38.079> times

tesla have gone up nearly six times

tesla have gone up nearly six times other<00:01:38.960> things<00:01:39.200> like<00:01:39.360> bitcoin<00:01:39.759> absolutely

other things like bitcoin absolutely

other things like bitcoin absolutely exploding<00:01:40.960> so<00:01:41.119> we've<00:01:41.280> got<00:01:41.439> a<00:01:41.439> load<00:01:41.600> of<00:01:41.680> people

exploding so we've got a load of people

exploding so we've got a load of people sitting<00:01:42.159> at<00:01:42.240> home

sitting at home

sitting at home they<00:01:42.799> can't<00:01:43.040> work<00:01:43.280> they're<00:01:43.439> not<00:01:43.600> making<00:01:43.840> any

they can't work they're not making any

they can't work they're not making any money<00:01:44.799> um<00:01:45.200> at<00:01:45.280> the<00:01:45.439> same<00:01:45.680> time<00:01:45.840> the<00:01:46.000> richest

money um at the same time the richest

money um at the same time the richest people<00:01:46.560> in<00:01:46.560> the<00:01:46.720> country<00:01:46.960> like<00:01:47.119> jeff<00:01:47.360> bezos

people in the country like jeff bezos

people in the country like jeff bezos the<00:01:48.320> value<00:01:48.560> of<00:01:48.640> their<00:01:48.799> companies<00:01:49.119> are

the value of their companies are

the value of their companies are doubling<00:01:49.759> and<00:01:49.840> this<00:01:50.000> is<00:01:50.079> on<00:01:50.159> the<00:01:50.240> back<00:01:50.399> of<00:01:50.560> 10

doubling and this is on the back of 10

doubling and this is on the back of 10 years<00:01:51.040> of<00:01:51.200> stock<00:01:51.360> markets<00:01:51.759> exploding<00:01:52.159> in<00:01:52.240> that

years of stock markets exploding in that

years of stock markets exploding in that country

country

country so<00:01:53.360> people<00:01:53.600> at<00:01:53.680> home<00:01:53.920> are<00:01:54.000> starting<00:01:54.240> to<00:01:54.240> think

so people at home are starting to think

so people at home are starting to think listen<00:01:54.880> i'm<00:01:54.960> not<00:01:55.119> happy<00:01:55.360> with<00:01:55.439> this<00:01:55.600> thing

listen i'm not happy with this thing

listen i'm not happy with this thing work<00:01:56.159> isn't<00:01:56.399> working<00:01:56.719> for<00:01:56.880> me

work isn't working for me

work isn't working for me i'm<00:01:57.360> not<00:01:57.520> making<00:01:57.840> any<00:01:58.000> money<00:01:58.240> and<00:01:58.399> the<00:01:58.479> super

i'm not making any money and the super

i'm not making any money and the super rich<00:01:58.960> are<00:01:59.040> just<00:01:59.119> getting<00:01:59.280> super<00:01:59.520> rich<00:01:59.759> on<00:01:59.840> the

rich are just getting super rich on the

rich are just getting super rich on the stock<00:02:00.159> markets<00:02:00.560> and<00:02:00.640> they<00:02:00.799> want<00:02:00.880> to<00:02:00.960> get

stock markets and they want to get

stock markets and they want to get involved

involved

involved so<00:02:02.079> they're<00:02:02.240> surging<00:02:02.560> onto<00:02:02.799> the<00:02:02.880> internet<00:02:03.360> and

so they're surging onto the internet and

so they're surging onto the internet and they're<00:02:03.520> going<00:02:03.759> through<00:02:03.840> this<00:02:04.000> website

they're going through this website

they're going through this website reddit

reddit

reddit which<00:02:05.200> is<00:02:05.360> a<00:02:05.600> social<00:02:05.920> media<00:02:06.159> site<00:02:06.640> it's<00:02:06.799> a

which is a social media site it's a

which is a social media site it's a message<00:02:07.200> board<00:02:07.439> site

message board site

message board site there's<00:02:08.160> an<00:02:08.319> area<00:02:08.560> on<00:02:08.640> there<00:02:08.800> called<00:02:08.959> wall

there's an area on there called wall

there's an area on there called wall street<00:02:09.520> bets<00:02:10.239> that's<00:02:10.399> where<00:02:10.560> people<00:02:10.800> go<00:02:10.959> to

street bets that's where people go to

street bets that's where people go to talk<00:02:11.280> about<00:02:11.599> how<00:02:11.760> to<00:02:11.840> make<00:02:12.000> money<00:02:12.239> on<00:02:12.319> the

talk about how to make money on the

talk about how to make money on the markets<00:02:12.800> what<00:02:13.040> stocks<00:02:13.280> to<00:02:13.360> buy<00:02:13.520> this<00:02:13.599> kind<00:02:13.760> of

markets what stocks to buy this kind of

markets what stocks to buy this kind of thing

thing

thing and<00:02:14.720> some<00:02:14.959> people<00:02:15.200> came<00:02:15.440> up<00:02:15.520> with<00:02:15.599> the<00:02:15.680> idea

and some people came up with the idea

and some people came up with the idea about<00:02:16.239> gamestop<00:02:17.120> so<00:02:17.280> what<00:02:17.440> you<00:02:17.520> need<00:02:17.599> to

about gamestop so what you need to

about gamestop so what you need to understand<00:02:18.080> about<00:02:18.400> gamestop

understand about gamestop

understand about gamestop is<00:02:19.760> there's<00:02:20.080> a<00:02:20.160> big<00:02:20.400> hedge<00:02:20.640> fund<00:02:20.959> with<00:02:21.120> a<00:02:21.200> few

is there's a big hedge fund with a few

is there's a big hedge fund with a few hedge<00:02:21.599> funds<00:02:21.840> that<00:02:21.920> decided<00:02:22.239> that<00:02:22.319> this<00:02:22.480> was<00:02:22.640> a

hedge funds that decided that this was a

hedge funds that decided that this was a weak

weak

weak company<00:02:24.000> they<00:02:24.160> decided<00:02:24.560> to<00:02:24.640> try<00:02:24.800> and<00:02:24.879> push<00:02:25.040> the

company they decided to try and push the

company they decided to try and push the stock<00:02:25.360> price<00:02:25.840> down<00:02:26.080> by

stock price down by

stock price down by short<00:02:26.800> selling<00:02:27.200> it<00:02:27.680> so<00:02:28.160> you<00:02:28.239> need<00:02:28.400> to<00:02:28.480> know<00:02:28.640> a

short selling it so you need to know a

short selling it so you need to know a little<00:02:28.879> bit<00:02:29.040> about<00:02:29.280> short<00:02:29.520> selling<00:02:29.760> all<00:02:29.920> right

little bit about short selling all right

little bit about short selling all right so<00:02:30.319> to<00:02:30.560> short<00:02:30.800> seller<00:02:31.120> stock

so to short seller stock

so to short seller stock normally<00:02:32.480> if<00:02:32.560> you<00:02:32.640> think<00:02:32.720> a<00:02:32.800> stock<00:02:32.959> price<00:02:33.200> is

normally if you think a stock price is

normally if you think a stock price is going<00:02:33.360> to<00:02:33.440> go<00:02:33.519> up<00:02:33.680> you<00:02:33.840> buy<00:02:34.080> it<00:02:34.239> but<00:02:34.400> how<00:02:34.560> do<00:02:34.640> you

going to go up you buy it but how do you

going to go up you buy it but how do you make<00:02:34.879> money<00:02:35.200> for<00:02:35.280> stock<00:02:35.440> price<00:02:35.680> is<00:02:35.760> going<00:02:35.840> to

make money for stock price is going to

make money for stock price is going to go<00:02:36.160> down

go down

go down well<00:02:37.200> the<00:02:37.280> way<00:02:37.440> you<00:02:37.519> do<00:02:37.680> is<00:02:37.840> you<00:02:37.920> borrow<00:02:38.239> the

well the way you do is you borrow the

well the way you do is you borrow the stock<00:02:38.640> for<00:02:38.800> example<00:02:39.360> a<00:02:39.519> week<00:02:39.840> for<00:02:39.920> a<00:02:40.080> week

stock for example a week for a week

stock for example a week for a week for<00:02:40.560> someone<00:02:40.800> who<00:02:40.879> has<00:02:41.120> it<00:02:41.280> and<00:02:41.360> then<00:02:41.440> you<00:02:41.599> sell

for someone who has it and then you sell

for someone who has it and then you sell it<00:02:42.160> hoping<00:02:42.480> to<00:02:42.640> buy<00:02:42.800> it<00:02:42.879> back<00:02:43.040> later<00:02:43.360> at<00:02:43.440> a

it hoping to buy it back later at a

it hoping to buy it back later at a lower<00:02:43.760> price

lower price

lower price now<00:02:45.519> these<00:02:45.840> um<00:02:46.239> hedge<00:02:46.480> funds<00:02:46.720> has<00:02:46.879> shortened<00:02:47.280> a

now these um hedge funds has shortened a

now these um hedge funds has shortened a lot<00:02:47.519> of<00:02:47.599> this<00:02:47.840> stock<00:02:48.080> and<00:02:48.239> some<00:02:48.400> people

lot of this stock and some people

lot of this stock and some people already<00:02:48.959> figured<00:02:49.280> it<00:02:49.360> out<00:02:49.920> so<00:02:50.080> they<00:02:50.239> said<00:02:50.400> look

already figured it out so they said look

already figured it out so they said look if<00:02:50.879> we<00:02:51.040> all<00:02:51.280> go<00:02:51.440> together<00:02:51.840> and<00:02:52.000> we<00:02:52.080> buy<00:02:52.319> loads

if we all go together and we buy loads

if we all go together and we buy loads and<00:02:52.640> loads<00:02:52.800> of<00:02:52.879> this<00:02:53.040> stock<00:02:53.280> we<00:02:53.440> can<00:02:53.519> push<00:02:53.680> the

and loads of this stock we can push the

and loads of this stock we can push the price<00:02:54.080> up<00:02:54.239> massively

price up massively

price up massively we'll<00:02:55.200> refuse<00:02:55.599> to<00:02:55.680> lend<00:02:55.920> out<00:02:56.000> any<00:02:56.160> of<00:02:56.239> the

we'll refuse to lend out any of the

we'll refuse to lend out any of the stock<00:02:56.480> for<00:02:56.640> the<00:02:56.720> short<00:02:56.959> sellers<00:02:57.280> and<00:02:57.360> then<00:02:57.440> the

stock for the short sellers and then the

stock for the short sellers and then the short<00:02:57.760> sellers<00:02:58.080> will<00:02:58.159> have<00:02:58.319> to

short sellers will have to

short sellers will have to buy<00:02:58.959> the<00:02:59.040> stock<00:02:59.280> back<00:02:59.440> when<00:02:59.599> their<00:02:59.760> loans<00:03:00.000> of

buy the stock back when their loans of

buy the stock back when their loans of their<00:03:00.319> stock<00:03:00.480> run<00:03:00.720> out<00:03:01.200> that<00:03:01.360> means<00:03:01.519> we<00:03:01.680> can

their stock run out that means we can

their stock run out that means we can push<00:03:01.920> the<00:03:02.080> price<00:03:02.400> up<00:03:02.560> and<00:03:02.640> then<00:03:02.800> the<00:03:02.879> hedge

push the price up and then the hedge

push the price up and then the hedge funds<00:03:03.280> will<00:03:03.440> have<00:03:03.519> to<00:03:03.599> buy<00:03:03.840> a<00:03:04.000> massively<00:03:04.400> high

funds will have to buy a massively high

funds will have to buy a massively high price<00:03:04.879> and<00:03:04.959> will<00:03:05.200> make<00:03:05.440> loads<00:03:05.680> of<00:03:05.760> money

price and will make loads of money

price and will make loads of money now<00:03:06.879> this<00:03:07.040> is<00:03:07.200> a<00:03:07.280> thing<00:03:07.440> which<00:03:07.680> is<00:03:08.000> relatively

now this is a thing which is relatively

now this is a thing which is relatively well<00:03:08.640> known<00:03:08.879> historically<00:03:09.280> in<00:03:09.360> financial

well known historically in financial

well known historically in financial markets<00:03:10.159> it's<00:03:10.239> called<00:03:10.400> a<00:03:10.480> short<00:03:10.720> squeeze

markets it's called a short squeeze

markets it's called a short squeeze you<00:03:11.680> push<00:03:11.840> the<00:03:12.000> price<00:03:12.319> up<00:03:12.400> so<00:03:12.560> that<00:03:12.720> all<00:03:12.800> the

you push the price up so that all the

you push the price up so that all the shorts<00:03:13.200> get<00:03:13.440> lose<00:03:13.599> loads<00:03:13.840> of<00:03:13.920> money<00:03:14.159> and<00:03:14.239> they

shorts get lose loads of money and they

shorts get lose loads of money and they have<00:03:14.480> to<00:03:14.560> buy<00:03:14.720> the<00:03:14.879> higher<00:03:15.040> prices

have to buy the higher prices

have to buy the higher prices it<00:03:15.760> was<00:03:15.920> a<00:03:16.000> massive<00:03:16.319> short<00:03:16.560> squeeze<00:03:16.959> in<00:03:17.280> the

it was a massive short squeeze in the

it was a massive short squeeze in the gold<00:03:17.599> market<00:03:17.920> for<00:03:18.000> example<00:03:18.319> in<00:03:18.400> the<00:03:18.480> 80s

gold market for example in the 80s

gold market for example in the 80s sometimes<00:03:19.599> it's<00:03:19.680> called<00:03:19.840> cornering<00:03:20.239> the

sometimes it's called cornering the

sometimes it's called cornering the market<00:03:20.640> they've<00:03:20.879> even<00:03:21.120> been<00:03:21.360> guys<00:03:21.519> who've

market they've even been guys who've

market they've even been guys who've done<00:03:21.760> this<00:03:21.920> with<00:03:22.159> sort<00:03:22.319> of<00:03:22.400> food<00:03:22.560> markets<00:03:22.959> like

done this with sort of food markets like

done this with sort of food markets like wheat<00:03:23.440> we're<00:03:23.599> going<00:03:23.680> to<00:03:23.760> buy<00:03:23.920> all<00:03:24.080> the<00:03:24.159> wheat

wheat we're going to buy all the wheat

wheat we're going to buy all the wheat and<00:03:24.400> the<00:03:24.560> people<00:03:24.720> who<00:03:24.799> need<00:03:24.959> them<00:03:25.120> are<00:03:25.200> going

and the people who need them are going

and the people who need them are going to<00:03:25.360> charge<00:03:25.599> exorbitant<00:03:26.080> prices

to charge exorbitant prices

to charge exorbitant prices so<00:03:28.000> basically<00:03:28.560> amazingly<00:03:29.519> this

so basically amazingly this

so basically amazingly this horde<00:03:30.720> of<00:03:30.959> sort<00:03:31.120> of<00:03:31.360> unrelated<00:03:32.000> people<00:03:32.239> who

horde of sort of unrelated people who

horde of sort of unrelated people who were<00:03:32.640> sitting<00:03:32.879> at<00:03:32.959> home<00:03:33.280> trading<00:03:33.519> on<00:03:33.599> the

were sitting at home trading on the

were sitting at home trading on the internet

internet

internet managed<00:03:34.720> to<00:03:34.879> push<00:03:35.120> game<00:03:35.360> stuff<00:03:35.599> up<00:03:36.120> 1500

managed to push game stuff up 1500

managed to push game stuff up 1500 in<00:03:37.519> about<00:03:37.760> two<00:03:37.920> weeks<00:03:38.080> which<00:03:38.239> was<00:03:38.400> phenomenal

in about two weeks which was phenomenal

in about two weeks which was phenomenal that<00:03:39.680> caused<00:03:40.159> this<00:03:40.400> uh<00:03:40.640> one<00:03:40.799> hedge<00:03:41.040> fund<00:03:41.200> i

that caused this uh one hedge fund i

that caused this uh one hedge fund i think<00:03:41.360> it's<00:03:41.519> melvin<00:03:41.840> is<00:03:42.000> the<00:03:42.080> name<00:03:42.319> to

think it's melvin is the name to

think it's melvin is the name to almost<00:03:43.440> got<00:03:43.599> bankrupt<00:03:43.920> they<00:03:44.080> lost<00:03:44.480> about<00:03:44.720> i

almost got bankrupt they lost about i

almost got bankrupt they lost about i think<00:03:44.879> 30<00:03:45.440> of<00:03:45.599> their<00:03:45.760> assets<00:03:46.080> under<00:03:46.319> value

think 30 of their assets under value

think 30 of their assets under value um<00:03:48.000> i<00:03:48.080> mean<00:03:48.239> it<00:03:48.319> really<00:03:48.480> is<00:03:48.560> a<00:03:48.640> phenomenal

um i mean it really is a phenomenal

um i mean it really is a phenomenal story<00:03:49.360> but<00:03:49.519> i<00:03:49.599> think<00:03:49.680> what<00:03:49.840> this<00:03:50.080> tells<00:03:50.319> you

story but i think what this tells you

story but i think what this tells you is<00:03:52.000> people<00:03:52.400> are<00:03:52.480> starting<00:03:52.879> to

is people are starting to

is people are starting to to<00:03:53.760> this<00:03:53.920> situation<00:03:54.480> where<00:03:55.439> the<00:03:55.599> way<00:03:55.760> we<00:03:55.920> deal

to this situation where the way we deal

to this situation where the way we deal with<00:03:56.239> crisis<00:03:56.640> is<00:03:56.720> to<00:03:56.799> bail<00:03:57.040> out<00:03:57.120> the<00:03:57.200> stock

with crisis is to bail out the stock

with crisis is to bail out the stock market

market

market but<00:03:58.239> not<00:03:58.400> to<00:03:58.560> bail<00:03:58.720> our<00:03:58.879> ordinary<00:03:59.200> people<00:03:59.519> and

but not to bail our ordinary people and

but not to bail our ordinary people and people<00:03:59.920> want<00:04:00.080> to<00:04:00.159> get<00:04:00.239> involved

people want to get involved

people want to get involved but<00:04:01.599> i<00:04:01.680> mean<00:04:02.000> the<00:04:02.159> way<00:04:02.400> it's<00:04:02.560> played<00:04:02.799> out<00:04:02.879> has

but i mean the way it's played out has

but i mean the way it's played out has been<00:04:03.200> really<00:04:03.439> phenomenal<00:04:04.000> my<00:04:04.239> big<00:04:04.400> concern

been really phenomenal my big concern

been really phenomenal my big concern now<00:04:05.120> is

now is

now is and<00:04:05.680> i<00:04:05.840> think<00:04:06.000> i<00:04:06.080> would<00:04:06.239> like<00:04:06.319> to<00:04:06.400> tell<00:04:06.640> people

and i think i would like to tell people

and i think i would like to tell people listening<00:04:07.120> at<00:04:07.200> home<00:04:07.680> yeah<00:04:08.000> really<00:04:08.319> be<00:04:08.560> careful

listening at home yeah really be careful

listening at home yeah really be careful before<00:04:09.120> you<00:04:09.200> get<00:04:09.280> involved<00:04:09.599> in<00:04:09.760> things<00:04:09.920> like

before you get involved in things like

before you get involved in things like this<00:04:10.319> because

this because

this because it<00:04:11.120> is<00:04:11.200> inevitable<00:04:11.760> in<00:04:11.840> my<00:04:12.000> opinion<00:04:12.560> i<00:04:12.720> think

it is inevitable in my opinion i think

it is inevitable in my opinion i think most<00:04:13.599> market<00:04:13.920> professionals<00:04:14.239> would<00:04:14.400> agree

most market professionals would agree

most market professionals would agree that<00:04:14.720> this<00:04:14.959> stock<00:04:15.120> will<00:04:15.280> collapse<00:04:15.680> back<00:04:15.920> down

that this stock will collapse back down

that this stock will collapse back down at<00:04:16.320> some<00:04:16.560> point

at some point

at some point and<00:04:17.519> uh<00:04:17.680> some<00:04:17.840> people<00:04:18.000> are<00:04:18.079> going<00:04:18.160> to<00:04:18.239> make<00:04:18.320> a

and uh some people are going to make a

and uh some people are going to make a lot<00:04:18.479> of<00:04:18.560> money<00:04:18.799> on<00:04:18.880> this<00:04:19.120> you<00:04:19.199> know<00:04:19.359> there's

lot of money on this you know there's

lot of money on this you know there's someone

someone

someone on<00:04:20.479> this<00:04:20.799> radio<00:04:21.040> website<00:04:21.359> who<00:04:21.440> claims<00:04:21.680> to<00:04:21.759> turn

on this radio website who claims to turn

on this radio website who claims to turn fifty<00:04:22.160> thousand<00:04:22.400> dollars<00:04:22.639> into<00:04:22.880> 47<00:04:23.360> million

fifty thousand dollars into 47 million

fifty thousand dollars into 47 million dollars

dollars

dollars yeah<00:04:24.720> if<00:04:24.880> you<00:04:25.040> get<00:04:25.199> involved<00:04:25.520> now<00:04:25.759> that's<00:04:25.919> not

yeah if you get involved now that's not

yeah if you get involved now that's not going<00:04:26.160> to<00:04:26.240> be<00:04:26.479> you<00:04:26.800> and<00:04:27.040> at<00:04:27.199> some<00:04:27.360> point<00:04:27.520> this

going to be you and at some point this

going to be you and at some point this is<00:04:27.759> going<00:04:27.840> to<00:04:27.919> collapse<00:04:28.240> and<00:04:28.320> some<00:04:28.479> people<00:04:28.560> are

is going to collapse and some people are

is going to collapse and some people are going<00:04:28.720> to<00:04:28.800> be<00:04:28.880> holding<00:04:29.280> it<00:04:29.360> so<00:04:29.600> i<00:04:29.680> was<00:04:29.840> just

going to be holding it so i was just

going to be holding it so i was just really<00:04:31.040> not<00:04:31.199> of<00:04:31.360> caution<00:04:31.600> to<00:04:31.680> people

really not of caution to people

really not of caution to people listening<00:04:32.720> don't<00:04:33.120> rush<00:04:33.360> in<00:04:33.600> and<00:04:33.759> get<00:04:34.000> involved

listening don't rush in and get involved

listening don't rush in and get involved in<00:04:34.400> this

in this

in this now<00:04:35.120> my<00:04:35.280> strong<00:04:35.600> recommendation<00:04:36.240> do<00:04:36.400> you

now my strong recommendation do you

now my strong recommendation do you think<00:04:36.639> this<00:04:36.800> is<00:04:36.880> going<00:04:36.960> to<00:04:37.040> spark<00:04:37.360> some<00:04:37.520> sort

think this is going to spark some sort

think this is going to spark some sort of<00:04:37.759> trend

of trend

of trend but<00:04:39.360> it's<00:04:39.520> already<00:04:39.759> a<00:04:39.919> trend<00:04:40.240> i<00:04:40.320> mean<00:04:40.479> look<00:04:40.639> at

but it's already a trend i mean look at

but it's already a trend i mean look at bitcoin<00:04:41.199> look<00:04:41.360> at<00:04:41.440> tesla<00:04:41.840> look<00:04:42.000> at<00:04:42.080> that<00:04:42.320> i

bitcoin look at tesla look at that i

bitcoin look at tesla look at that i mean

mean

mean the<00:04:42.880> thing<00:04:43.120> is<00:04:43.520> you<00:04:43.680> need<00:04:43.840> to<00:04:43.919> understand<00:04:44.320> what

the thing is you need to understand what

the thing is you need to understand what is<00:04:44.639> happening<00:04:44.960> with<00:04:45.120> regards<00:04:45.280> to<00:04:45.360> the

is happening with regards to the

is happening with regards to the coronavirus<00:04:46.000> crisis<00:04:46.400> government's<00:04:46.880> all<00:04:46.960> over

coronavirus crisis government's all over

coronavirus crisis government's all over the<00:04:47.280> tesla's<00:04:47.680> not

the tesla's not

the tesla's not tesla's<00:04:48.479> stock's<00:04:48.800> not<00:04:48.960> going<00:04:49.199> up<00:04:49.360> because<00:04:50.240> um

tesla's stock's not going up because um

tesla's stock's not going up because um lots<00:04:50.880> of<00:04:50.960> people

lots of people

lots of people are<00:04:51.759> chatting<00:04:52.080> about<00:04:52.320> it<00:04:52.400> on<00:04:52.560> reddit<00:04:53.199> they're

are chatting about it on reddit they're

are chatting about it on reddit they're going<00:04:53.600> up<00:04:53.759> because<00:04:54.080> they<00:04:54.240> are

going up because they are

going up because they are i've<00:04:55.520> been<00:04:55.680> on<00:04:55.759> this<00:04:55.919> website<00:04:56.560> these<00:04:56.880> guys

i've been on this website these guys

i've been on this website these guys tested<00:04:59.199> i<00:04:59.280> mean<00:04:59.360> listen<00:05:00.000> i'm<00:05:00.080> not<00:05:00.320> an<00:05:00.479> expert

tested i mean listen i'm not an expert

tested i mean listen i'm not an expert exactly<00:05:01.440> on

exactly on

exactly on tesla

yeah<00:05:06.400> i<00:05:06.479> mean<00:05:06.639> it's<00:05:06.720> very<00:05:06.880> very<00:05:07.039> expensive

yeah i mean it's very very expensive

yeah i mean it's very very expensive compared<00:05:07.680> to<00:05:07.759> other<00:05:07.840> car<00:05:08.080> makers<00:05:08.479> and<00:05:08.560> there

compared to other car makers and there

compared to other car makers and there is<00:05:08.880> a<00:05:08.960> huge<00:05:09.199> like<00:05:09.360> i<00:05:09.440> go<00:05:09.520> on<00:05:09.759> this<00:05:09.919> i've<00:05:10.000> been<00:05:10.160> on

is a huge like i go on this i've been on

is a huge like i go on this i've been on this

this

this you<00:05:10.880> know<00:05:11.039> i<00:05:11.280> trade<00:05:11.520> markets<00:05:11.919> and<00:05:12.000> i<00:05:12.080> look<00:05:12.160> at

you know i trade markets and i look at

you know i trade markets and i look at this<00:05:12.400> website<00:05:13.280> they<00:05:13.520> love<00:05:13.680> tesla<00:05:14.000> they<00:05:14.080> love

this website they love tesla they love

this website they love tesla they love elon<00:05:14.560> musk<00:05:14.800> oh<00:05:14.960> you<00:05:15.039> know<00:05:15.199> not<00:05:15.440> all<00:05:15.520> of<00:05:15.600> them

elon musk oh you know not all of them

elon musk oh you know not all of them but

but

but if<00:05:16.960> elon<00:05:17.199> musk<00:05:17.520> tweets<00:05:17.919> something<00:05:18.320> that<00:05:18.479> will

if elon musk tweets something that will

if elon musk tweets something that will move<00:05:19.039> you<00:05:19.199> know<00:05:19.440> these<00:05:19.759> guys<00:05:20.080> they<00:05:20.160> look<00:05:20.320> at

move you know these guys they look at

move you know these guys they look at that<00:05:20.479> guy<00:05:20.720> and<00:05:20.880> um

that guy and um

that guy and um the<00:05:21.440> fact<00:05:21.680> is<00:05:21.919> you<00:05:22.000> know<00:05:22.400> governments<00:05:22.880> have

the fact is you know governments have

the fact is you know governments have printed<00:05:23.360> lots<00:05:23.600> of<00:05:23.680> money

printed lots of money

printed lots of money that's<00:05:24.720> how<00:05:24.880> they've<00:05:24.960> dealt<00:05:25.120> with<00:05:25.199> this

that's how they've dealt with this

that's how they've dealt with this crisis<00:05:25.680> and<00:05:25.759> that<00:05:26.000> means<00:05:26.320> there's<00:05:26.479> a<00:05:26.560> lot<00:05:26.720> of

crisis and that means there's a lot of

crisis and that means there's a lot of money<00:05:27.039> spilling<00:05:27.360> about<00:05:27.520> in<00:05:27.600> the<00:05:27.680> system<00:05:28.000> and

money spilling about in the system and

money spilling about in the system and largely

largely

largely it's<00:05:28.880> ended<00:05:29.120> up<00:05:29.199> with<00:05:29.360> richer<00:05:29.680> people<00:05:29.919> here

it's ended up with richer people here

it's ended up with richer people here and<00:05:30.880> if<00:05:31.039> you<00:05:31.199> give<00:05:31.360> a<00:05:31.440> lot<00:05:31.520> of<00:05:31.600> money<00:05:31.840> to<00:05:32.000> a<00:05:32.080> lot

and if you give a lot of money to a lot

and if you give a lot of money to a lot of<00:05:32.240> rich<00:05:32.479> people

of rich people

of rich people they're<00:05:33.199> going<00:05:33.360> to<00:05:33.440> buy<00:05:33.680> stocks<00:05:34.000> and<00:05:34.160> i<00:05:34.240> think

they're going to buy stocks and i think

they're going to buy stocks and i think what's<00:05:34.639> relevant<00:05:34.960> to<00:05:35.120> the<00:05:35.199> uk<00:05:35.759> they're<00:05:35.919> going

what's relevant to the uk they're going

what's relevant to the uk they're going to<00:05:36.160> buy<00:05:36.240> houses<00:05:36.639> as<00:05:36.720> well<00:05:37.039> and<00:05:37.199> you<00:05:37.280> know<00:05:37.440> we're

to buy houses as well and you know we're

to buy houses as well and you know we're starting<00:05:37.840> to<00:05:37.919> see<00:05:38.160> in<00:05:38.240> the<00:05:38.320> middle<00:05:38.560> of

starting to see in the middle of

starting to see in the middle of the<00:05:39.120> worst<00:05:39.360> economic<00:05:39.759> crisis<00:05:40.080> in<00:05:40.160> our

the worst economic crisis in our

the worst economic crisis in our lifetimes<00:05:41.039> house<00:05:41.280> prices<00:05:41.520> are<00:05:41.600> going<00:05:41.840> up<00:05:42.000> at

lifetimes house prices are going up at

lifetimes house prices are going up at record<00:05:42.560> pace

record pace

record pace what<00:05:43.759> do<00:05:43.840> you<00:05:43.919> think<00:05:44.080> is<00:05:44.160> going<00:05:44.240> to<00:05:44.320> happen

what do you think is going to happen

what do you think is going to happen sorry<00:05:45.360> what<00:05:45.440> do<00:05:45.520> you<00:05:45.600> think<00:05:45.759> is<00:05:45.840> going<00:05:45.919> to

sorry what do you think is going to

sorry what do you think is going to happen<00:05:46.320> to<00:05:46.479> um<00:05:46.720> gamestop<00:05:47.199> themselves

happen to um gamestop themselves

happen to um gamestop themselves i<00:05:49.120> mean<00:05:49.440> the<00:05:49.520> company<00:05:49.919> up<00:05:50.720> the<00:05:50.880> um<00:05:51.360> that<00:05:51.759> the

i mean the company up the um that the

i mean the company up the um that the hedge<00:05:52.160> funds<00:05:52.400> which<00:05:52.479> looked<00:05:52.720> at<00:05:52.880> this<00:05:52.960> company

hedge funds which looked at this company

hedge funds which looked at this company they<00:05:53.759> they<00:05:54.000> analyzed<00:05:54.400> it<00:05:54.479> to<00:05:54.639> be<00:05:54.800> a<00:05:54.880> weak

they they analyzed it to be a weak

they they analyzed it to be a weak company<00:05:56.000> i<00:05:56.080> mean<00:05:56.400> i'll<00:05:56.479> tell<00:05:56.639> you<00:05:56.720> one<00:05:56.880> thing

company i mean i'll tell you one thing

company i mean i'll tell you one thing they've<00:05:57.199> definitely<00:05:57.520> got<00:05:57.680> a<00:05:57.759> lot<00:05:57.919> of<00:05:58.080> free

they've definitely got a lot of free

they've definitely got a lot of free advertising<00:05:58.800> and<00:05:58.880> publicity<00:05:59.280> over<00:05:59.440> the<00:05:59.520> last

advertising and publicity over the last

advertising and publicity over the last few<00:05:59.840> days<00:06:00.160> which<00:06:00.400> will

few days which will

few days which will probably<00:06:01.039> support<00:06:01.520> the<00:06:01.600> company<00:06:02.000> but<00:06:02.160> um<00:06:02.800> if

probably support the company but um if

probably support the company but um if we<00:06:03.120> assume<00:06:03.520> and<00:06:03.680> i<00:06:03.759> think<00:06:04.000> it<00:06:04.319> is<00:06:04.560> likely<00:06:04.960> that

we assume and i think it is likely that

we assume and i think it is likely that this<00:06:05.759> stock<00:06:06.000> price<00:06:06.240> will<00:06:06.400> simply<00:06:06.720> rise<00:06:06.960> and

this stock price will simply rise and

this stock price will simply rise and fall

fall

fall that<00:06:07.840> doesn't<00:06:08.160> actually<00:06:08.400> really<00:06:08.560> benefit<00:06:09.039> the

that doesn't actually really benefit the

that doesn't actually really benefit the company<00:06:09.600> themselves<00:06:10.319> it's<00:06:10.479> purely<00:06:10.800> a<00:06:10.960> game

company themselves it's purely a game

company themselves it's purely a game between

between

between people<00:06:12.160> who<00:06:12.319> hold<00:06:12.560> the<00:06:12.720> stock<00:06:12.960> the<00:06:13.120> short

people who hold the stock the short

people who hold the stock the short sellers<00:06:13.759> and<00:06:14.000> and<00:06:14.240> this<00:06:14.880> army<00:06:15.199> on<00:06:15.360> ready

sellers and and this army on ready

sellers and and this army on ready essentially

essentially

essentially um<00:06:17.039> you<00:06:17.120> know<00:06:17.280> the<00:06:17.360> company<00:06:17.680> gets<00:06:17.840> some<00:06:18.000> free

um you know the company gets some free

um you know the company gets some free advertising<00:06:18.639> but

advertising but

advertising but it<00:06:19.680> was<00:06:20.000> judged<00:06:20.240> by<00:06:20.400> many<00:06:20.639> hedge<00:06:20.800> funds<00:06:21.039> to<00:06:21.120> be

it was judged by many hedge funds to be

it was judged by many hedge funds to be a<00:06:21.360> weak<00:06:21.520> stock<00:06:21.840> it's<00:06:22.080> trying<00:06:22.319> to

a weak stock it's trying to

a weak stock it's trying to compete<00:06:23.039> with<00:06:23.199> the<00:06:23.520> massive<00:06:23.840> giant<00:06:24.080> like

compete with the massive giant like

compete with the massive giant like amazon<00:06:25.039> but<00:06:25.440> realistically

amazon but realistically

amazon but realistically presuming<00:06:27.280> the<00:06:27.360> stock<00:06:27.520> falls<00:06:27.759> back<00:06:27.919> down<00:06:28.160> it

presuming the stock falls back down it

presuming the stock falls back down it doesn't<00:06:28.560> really<00:06:28.800> change<00:06:29.120> the<00:06:29.199> outlook<00:06:29.520> for

doesn't really change the outlook for

doesn't really change the outlook for the<00:06:29.680> company<00:06:29.919> itself

the company itself

the company itself um<00:06:31.360> do<00:06:31.440> you<00:06:31.520> think<00:06:31.680> we'll<00:06:31.919> see<00:06:32.080> a<00:06:32.160> move<00:06:32.400> away

um do you think we'll see a move away

um do you think we'll see a move away from<00:06:32.960> stock<00:06:33.199> markets<00:06:33.759> and

from stock markets and

from stock markets and how<00:06:34.319> they<00:06:34.479> work<00:06:34.720> and<00:06:34.880> how<00:06:35.360> um<00:06:36.080> massive<00:06:36.560> what

how they work and how um massive what

how they work and how um massive what you<00:06:36.880> know<00:06:37.039> massive<00:06:37.360> part<00:06:37.600> that<00:06:37.680> they<00:06:37.919> play

you know massive part that they play

you know massive part that they play in<00:06:39.039> um<00:06:39.919> in<00:06:40.560> you<00:06:40.880> in<00:06:41.039> their<00:06:41.199> country's

in um in you in their country's

in um in you in their country's economies<00:06:42.160> or

economies or

economies or or<00:06:42.880> is<00:06:42.960> this<00:06:43.199> the<00:06:43.360> model<00:06:43.600> that<00:06:44.080> is<00:06:44.240> going<00:06:44.319> to<00:06:44.400> be

or is this the model that is going to be

or is this the model that is going to be around<00:06:44.720> for<00:06:44.880> a<00:06:44.960> while<00:06:45.520> well<00:06:45.759> i<00:06:45.840> mean<00:06:46.000> already

around for a while well i mean already

around for a while well i mean already there's<00:06:46.560> such<00:06:46.800> a<00:06:46.880> divergence<00:06:47.360> between

there's such a divergence between

there's such a divergence between countries<00:06:47.919> economies<00:06:48.240> and<00:06:48.319> the<00:06:48.400> stock<00:06:48.560> market

countries economies and the stock market

countries economies and the stock market i<00:06:49.039> mean

i mean

i mean just<00:06:49.520> look<00:06:49.680> at<00:06:49.759> what's<00:06:49.919> happened<00:06:50.080> since<00:06:50.319> 2008

just look at what's happened since 2008

just look at what's happened since 2008 you<00:06:51.039> know<00:06:51.280> the<00:06:51.440> uk<00:06:51.759> stock<00:06:51.919> market's<00:06:52.319> up<00:06:52.400> i

you know the uk stock market's up i

you know the uk stock market's up i think<00:06:52.639> two<00:06:52.800> or<00:06:52.880> three<00:06:53.039> times<00:06:53.360> in<00:06:53.440> that<00:06:53.520> time

think two or three times in that time

think two or three times in that time the<00:06:53.840> u.s<00:06:54.080> is<00:06:54.160> up<00:06:54.319> even<00:06:54.560> more

the u.s is up even more

the u.s is up even more stock<00:06:55.599> markets<00:06:55.840> just<00:06:56.000> seems<00:06:56.160> to<00:06:56.240> go<00:06:56.319> up<00:06:56.400> and<00:06:56.479> up

stock markets just seems to go up and up

stock markets just seems to go up and up and<00:06:57.039> the<00:06:57.199> reason<00:06:57.520> for<00:06:57.680> this<00:06:58.000> is

and the reason for this is

and the reason for this is and<00:06:58.639> this<00:06:58.800> is<00:06:58.880> another<00:06:59.120> thing<00:06:59.280> that<00:06:59.440> these

and this is another thing that these

and this is another thing that these guys<00:06:59.840> already<00:07:00.639> love<00:07:00.800> to<00:07:00.960> talk<00:07:01.120> about<00:07:01.440> is

guys already love to talk about is

guys already love to talk about is whenever<00:07:02.240> there's<00:07:02.479> a<00:07:02.560> strong<00:07:02.720> economy<00:07:03.199> stock

whenever there's a strong economy stock

whenever there's a strong economy stock markets<00:07:03.680> go<00:07:03.919> up<00:07:04.080> but<00:07:04.240> whenever<00:07:04.560> there's<00:07:04.720> a

markets go up but whenever there's a

markets go up but whenever there's a weak<00:07:04.960> economy

weak economy

weak economy central<00:07:06.000> banks<00:07:06.319> print<00:07:06.720> billions<00:07:07.120> of<00:07:07.199> dollars

central banks print billions of dollars

central banks print billions of dollars and<00:07:07.680> that<00:07:07.840> pushes<00:07:08.080> stock<00:07:08.319> markets<00:07:08.720> up<00:07:08.800> so<00:07:09.039> it

and that pushes stock markets up so it

and that pushes stock markets up so it creates<00:07:09.520> a<00:07:09.680> situation

creates a situation

creates a situation where<00:07:10.720> it<00:07:10.800> feels<00:07:11.039> like<00:07:11.280> stock<00:07:11.520> markets<00:07:11.840> can

where it feels like stock markets can

where it feels like stock markets can only<00:07:12.160> go<00:07:12.240> up<00:07:12.319> whether<00:07:12.560> it's<00:07:12.720> a<00:07:12.800> strong<00:07:12.960> economy

only go up whether it's a strong economy

only go up whether it's a strong economy or<00:07:13.680> a<00:07:13.759> weak<00:07:14.000> economy

or a weak economy

or a weak economy and<00:07:14.639> what<00:07:14.800> that<00:07:14.960> means<00:07:15.199> is<00:07:15.360> whether<00:07:15.599> workers

and what that means is whether workers

and what that means is whether workers and<00:07:16.160> ordinary<00:07:16.639> families<00:07:17.039> do<00:07:17.199> well<00:07:17.440> or<00:07:17.520> badly

and ordinary families do well or badly

and ordinary families do well or badly the<00:07:18.160> rich<00:07:18.479> always<00:07:18.880> do<00:07:19.120> well

the rich always do well

the rich always do well so<00:07:20.479> if<00:07:20.639> that's<00:07:20.960> the<00:07:21.199> situation<00:07:21.759> and<00:07:22.000> if<00:07:22.080> we

so if that's the situation and if we

so if that's the situation and if we look<00:07:22.319> at<00:07:22.400> the<00:07:22.479> last<00:07:22.800> 12<00:07:23.039> years<00:07:23.199> that<00:07:23.360> seems<00:07:23.599> to

look at the last 12 years that seems to

look at the last 12 years that seems to be<00:07:23.759> the<00:07:23.919> situation

be the situation

be the situation you<00:07:24.800> can<00:07:24.960> kind<00:07:25.199> of<00:07:25.360> understand<00:07:25.680> why<00:07:25.840> now

you can kind of understand why now

you can kind of understand why now ordinary<00:07:26.560> people<00:07:26.880> are<00:07:27.039> surging<00:07:27.440> in

ordinary people are surging in

ordinary people are surging in to<00:07:28.080> buy<00:07:28.319> these<00:07:28.479> stocks<00:07:29.360> well<00:07:29.599> fascinating

to buy these stocks well fascinating

to buy these stocks well fascinating talking<00:07:30.319> to<00:07:30.400> you<00:07:30.479> i<00:07:30.560> think<00:07:30.639> you've<00:07:30.720> made<00:07:30.880> us

talking to you i think you've made us

talking to you i think you've made us made<00:07:31.520> uh<00:07:31.840> some<00:07:32.080> sense<00:07:32.400> of<00:07:32.800> all<00:07:32.960> those<00:07:33.199> memes

made uh some sense of all those memes

made uh some sense of all those memes and<00:07:34.080> various<00:07:34.400> different<00:07:34.639> videos<00:07:34.960> i've<00:07:35.120> seen

and various different videos i've seen

and various different videos i've seen online<00:07:35.520> so<00:07:35.680> thank<00:07:35.759> you<00:07:35.840> very<00:07:36.000> much<00:07:36.160> for

online so thank you very much for

online so thank you very much for joining<00:07:36.560> us<00:07:36.639> here<00:07:36.800> on<00:07:36.960> lbc<00:07:37.440> news<00:07:37.599> that's<00:07:37.759> there

joining us here on lbc news that's there

joining us here on lbc news that's there gary<00:07:38.240> stevenson

gary stevenson

gary stevenson an<00:07:39.199> ex-city<00:07:39.680> trader<00:07:40.080> and<00:07:40.240> an<00:07:40.400> economist<00:07:40.960> this

an ex-city trader and an economist this

an ex-city trader and an economist this is<00:07:41.280> lbc<00:07:41.599> news<00:07:41.759> the<00:07:41.840> headlines<00:07:42.240> are<00:07:42.319> next

is lbc news the headlines are next

is lbc news the headlines are next lbc<00:07:43.680> news

lbc news

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