basically<00:00:00.840> the<00:00:00.960> two<00:00:01.160> ways<00:00:01.360> that<00:00:01.480> you<00:00:01.599> see<00:00:01.839> loss

basically the two ways that you see loss

basically the two ways that you see loss of<00:00:02.520> of<00:00:02.679> wealth<00:00:02.919> of<00:00:03.040> the<00:00:03.120> middle<00:00:03.439> class<00:00:03.760> are

of of wealth of the middle class are

of of wealth of the middle class are literally<00:00:04.960> less<00:00:05.200> ownership<00:00:05.680> of<00:00:05.839> assets<00:00:06.480> and

literally less ownership of assets and

literally less ownership of assets and in<00:00:06.960> the<00:00:07.080> UK<00:00:07.359> that's<00:00:07.560> primarily<00:00:08.080> housing<00:00:08.920> the

in the UK that's primarily housing the

in the UK that's primarily housing the other<00:00:09.160> thing<00:00:09.320> is<00:00:09.440> just<00:00:09.679> much<00:00:09.920> higher<00:00:10.120> levels

other thing is just much higher levels

other thing is just much higher levels of<00:00:10.559> debt<00:00:11.440> so<00:00:11.639> I<00:00:11.719> mean<00:00:11.960> you<00:00:12.160> really<00:00:12.440> you<00:00:12.519> know

of debt so I mean you really you know

of debt so I mean you really you know people<00:00:13.080> our<00:00:13.360> age<00:00:13.880> if<00:00:13.960> you<00:00:14.080> speak<00:00:14.320> to<00:00:14.440> people

people our age if you speak to people

people our age if you speak to people our<00:00:14.839> age<00:00:15.000> you<00:00:15.080> can<00:00:15.200> see<00:00:15.440> it<00:00:16.080> these<00:00:16.279> guys<00:00:16.560> number

our age you can see it these guys number

our age you can see it these guys number one<00:00:17.000> much<00:00:17.160> less<00:00:17.359> likely<00:00:17.600> to<00:00:17.720> own<00:00:18.320> property

one much less likely to own property

one much less likely to own property than<00:00:18.800> their<00:00:18.920> parents<00:00:19.199> were<00:00:19.359> at<00:00:19.480> the<00:00:19.560> same<00:00:19.760> age

than their parents were at the same age

than their parents were at the same age number<00:00:20.760> two<00:00:20.960> if<00:00:21.080> they<00:00:21.199> do<00:00:21.359> own<00:00:21.600> property<00:00:22.400> the

number two if they do own property the

number two if they do own property the amount<00:00:22.720> of<00:00:22.880> debt<00:00:23.119> they<00:00:23.240> have<00:00:23.400> compared<00:00:23.680> to

amount of debt they have compared to

amount of debt they have compared to what<00:00:23.840> their<00:00:23.960> parents<00:00:24.199> had<00:00:24.359> at<00:00:24.439> the<00:00:24.560> same<00:00:24.720> age

what their parents had at the same age

what their parents had at the same age is<00:00:25.320> absolutely<00:00:26.080> enormous<00:00:27.080> that<00:00:27.279> is<00:00:27.960> the<00:00:28.080> loss

is absolutely enormous that is the loss

is absolutely enormous that is the loss of<00:00:28.400> the<00:00:28.519> wealth<00:00:28.679> of<00:00:28.800> the<00:00:28.880> middle<00:00:29.160> class<00:00:29.480> and

of the wealth of the middle class and

of the wealth of the middle class and the<00:00:30.439> exact<00:00:30.759> same<00:00:30.920> thing<00:00:31.000> has<00:00:31.119> happened<00:00:31.320> to

the exact same thing has happened to

the exact same thing has happened to governments<00:00:32.239> they're<00:00:32.439> privatizing<00:00:33.000> assets

governments they're privatizing assets

governments they're privatizing assets they're<00:00:33.399> losing<00:00:33.760> assets<00:00:34.760> they're<00:00:34.920> going<00:00:35.160> into

they're losing assets they're going into

they're losing assets they're going into debt<00:00:35.800> and<00:00:35.960> the<00:00:36.040> question<00:00:36.280> you<00:00:36.440> to<00:00:36.559> ask

debt and the question you to ask

debt and the question you to ask yourself<00:00:37.399> is<00:00:38.399> we<00:00:38.559> can't<00:00:38.800> all<00:00:38.960> lose<00:00:39.200> our<00:00:39.399> assets

yourself is we can't all lose our assets

yourself is we can't all lose our assets right<00:00:39.920> they're<00:00:40.039> not<00:00:40.160> disappearing<00:00:40.680> someone

right they're not disappearing someone

right they're not disappearing someone has<00:00:41.039> to<00:00:41.160> own<00:00:41.360> them<00:00:41.840> and<00:00:41.960> we<00:00:42.120> can't<00:00:42.320> all<00:00:42.480> go<00:00:42.600> into

has to own them and we can't all go into

has to own them and we can't all go into debt<00:00:43.120> debt<00:00:43.280> is<00:00:43.399> always<00:00:43.600> to<00:00:43.760> somebody<00:00:44.640> so<00:00:44.879> as

debt debt is always to somebody so as

debt debt is always to somebody so as the<00:00:45.239> middle<00:00:45.520> class<00:00:45.760> is<00:00:45.920> accumulating<00:00:46.320> these

the middle class is accumulating these

the middle class is accumulating these massive<00:00:46.840> mortgage<00:00:47.239> debts<00:00:48.160> and<00:00:48.360> student<00:00:48.719> debts

massive mortgage debts and student debts

massive mortgage debts and student debts especially<00:00:49.320> in<00:00:49.399> the<00:00:49.920> US<00:00:50.920> and<00:00:51.039> the<00:00:51.120> government

especially in the US and the government

especially in the US and the government is<00:00:51.520> accumulating<00:00:51.920> these<00:00:52.079> massive<00:00:52.320> government

is accumulating these massive government

is accumulating these massive government debts<00:00:53.520> someone<00:00:53.840> is<00:00:53.960> on<00:00:54.039> the<00:00:54.160> other<00:00:54.320> side<00:00:54.480> of

debts someone is on the other side of

debts someone is on the other side of that