okay<00:00:01.439> so<00:00:01.599> i<00:00:01.680> want<00:00:01.760> to<00:00:01.839> do<00:00:01.920> one<00:00:02.159> about<00:00:02.480> crises<00:00:03.439> in

okay so i want to do one about crises in

okay so i want to do one about crises in general<00:00:04.160> and<00:00:04.799> ways<00:00:05.120> in<00:00:05.200> which<00:00:05.440> governments

general and ways in which governments

general and ways in which governments can<00:00:06.000> handle<00:00:06.319> crises<00:00:07.120> because<00:00:07.440> i<00:00:07.520> think

can handle crises because i think

can handle crises because i think a<00:00:09.120> misunderstanding<00:00:10.160> of<00:00:10.240> what's<00:00:10.480> happening

a misunderstanding of what's happening

a misunderstanding of what's happening here<00:00:11.679> is

here is

here is potentially<00:00:12.960> going<00:00:13.040> to<00:00:13.120> really<00:00:13.280> damage<00:00:13.599> us

potentially going to really damage us

potentially going to really damage us okay

so

so

so i'm<00:00:20.960> going<00:00:21.119> to<00:00:21.199> use<00:00:21.439> some<00:00:21.600> of<00:00:21.760> the

i'm going to use some of the

i'm going to use some of the information<00:00:22.960> which<00:00:23.039> we've<00:00:23.199> taught<00:00:23.359> in

information which we've taught in

information which we've taught in previous<00:00:23.760> videos<00:00:24.080> right<00:00:24.400> first<00:00:24.720> from<00:00:24.880> what<00:00:25.039> is

previous videos right first from what is

previous videos right first from what is wealth<00:00:25.920> the<00:00:26.160> knowledge<00:00:26.560> that<00:00:26.960> there's<00:00:27.199> a<00:00:27.279> huge

wealth the knowledge that there's a huge

wealth the knowledge that there's a huge amount<00:00:27.680> of<00:00:27.760> wealth<00:00:28.080> in<00:00:28.160> society<00:00:28.720> for<00:00:28.880> example

amount of wealth in society for example

amount of wealth in society for example these<00:00:29.519> buildings<00:00:29.920> around<00:00:30.240> us

these buildings around us

these buildings around us but<00:00:31.599> it's<00:00:31.679> very<00:00:31.840> unequally<00:00:32.320> honored

but it's very unequally honored

but it's very unequally honored secondly

secondly

secondly when<00:00:35.600> we<00:00:35.680> spoke<00:00:35.920> about<00:00:36.079> why<00:00:36.320> rich<00:00:36.480> people<00:00:36.719> get

when we spoke about why rich people get

when we spoke about why rich people get richer

richer

richer we<00:00:38.239> mention<00:00:38.559> the<00:00:38.719> fact<00:00:38.879> that<00:00:39.040> there's<00:00:39.360> cash

we mention the fact that there's cash

we mention the fact that there's cash flows<00:00:40.399> between

flows between

flows between the<00:00:41.840> rich<00:00:42.239> and<00:00:42.399> the<00:00:42.480> rest<00:00:42.719> of<00:00:42.879> us<00:00:43.520> and<00:00:43.600> the<00:00:43.680> rest

the rich and the rest of us and the rest

the rich and the rest of us and the rest of<00:00:44.000> us<00:00:44.160> and<00:00:44.239> the<00:00:44.320> rich

of us and the rich

of us and the rich but<00:00:46.160> the<00:00:46.399> cash<00:00:46.719> which<00:00:46.960> transfers<00:00:47.440> from

but the cash which transfers from

but the cash which transfers from ordinary<00:00:48.399> people<00:00:48.640> to<00:00:48.800> the<00:00:48.879> rich<00:00:49.680> is<00:00:49.920> generally

ordinary people to the rich is generally

ordinary people to the rich is generally either<00:00:50.640> things<00:00:50.879> you

either things you

either things you have<00:00:52.079> to<00:00:52.239> buy<00:00:52.960> or<00:00:53.440> literally<00:00:53.760> things<00:00:53.920> you're

have to buy or literally things you're

have to buy or literally things you're legally<00:00:54.480> mandated<00:00:54.879> to<00:00:55.039> pay<00:00:55.520> so<00:00:55.680> your<00:00:55.920> rent

legally mandated to pay so your rent

legally mandated to pay so your rent your<00:00:56.719> mortgage<00:00:57.680> when<00:00:57.840> you<00:00:57.920> buy<00:00:58.079> food<00:00:58.320> when<00:00:58.480> you

your mortgage when you buy food when you

your mortgage when you buy food when you buy<00:00:58.800> energy<00:00:59.600> these<00:00:59.920> go<00:01:00.160> to<00:01:00.399> the<00:01:00.559> owners<00:01:00.800> of<00:01:00.879> the

buy energy these go to the owners of the

buy energy these go to the owners of the properties<00:01:01.600> the<00:01:01.760> owners<00:01:02.000> of<00:01:02.079> the<00:01:02.160> mortgages

properties the owners of the mortgages

properties the owners of the mortgages the<00:01:03.039> owners<00:01:03.359> of<00:01:03.440> the<00:01:03.600> land<00:01:04.239> the<00:01:04.400> owners<00:01:04.640> of<00:01:04.720> the

the owners of the land the owners of the

the owners of the land the owners of the energy<00:01:05.199> and<00:01:05.360> energy<00:01:05.760> production<00:01:06.240> facilities

energy and energy production facilities

energy and energy production facilities these<00:01:06.960> are<00:01:07.040> all<00:01:07.119> rich<00:01:07.360> people<00:01:07.600> okay<00:01:08.400> so

these are all rich people okay so

these are all rich people okay so ordinary<00:01:09.200> people

ordinary people

ordinary people have<00:01:10.560> to<00:01:10.640> pay<00:01:10.799> money<00:01:11.119> to<00:01:11.200> the<00:01:11.280> rich<00:01:11.680> every<00:01:12.159> day

have to pay money to the rich every day

have to pay money to the rich every day every<00:01:12.640> week<00:01:12.880> every<00:01:13.040> month<00:01:13.280> every<00:01:13.439> year

every week every month every year

every week every month every year rich<00:01:14.799> people<00:01:14.960> give<00:01:15.119> money<00:01:15.360> back<00:01:16.000> by<00:01:16.159> basically

rich people give money back by basically

rich people give money back by basically large<00:01:16.799> discretionary<00:01:17.360> spending<00:01:17.759> that's<00:01:17.920> how

large discretionary spending that's how

large discretionary spending that's how it<00:01:18.159> goes<00:01:18.400> around<00:01:19.119> the<00:01:19.280> problem<00:01:19.600> we<00:01:19.680> have<00:01:19.920> here

it goes around the problem we have here

it goes around the problem we have here there's<00:01:20.320> a<00:01:20.400> structural

there's a structural

there's a structural imbalance<00:01:23.280> which<00:01:23.439> is<00:01:23.600> that<00:01:23.759> ordinary<00:01:24.080> people

imbalance which is that ordinary people

imbalance which is that ordinary people have<00:01:24.560> to<00:01:24.640> make<00:01:24.799> those<00:01:25.040> payments<00:01:25.840> and<00:01:26.000> rich

have to make those payments and rich

have to make those payments and rich people<00:01:26.560> they<00:01:26.720> can<00:01:26.880> stop<00:01:27.280> you<00:01:27.439> know<00:01:28.000> spending<00:01:28.320> a

people they can stop you know spending a

people they can stop you know spending a ton<00:01:28.560> of<00:01:28.640> money<00:01:29.040> whenever<00:01:29.360> they<00:01:29.520> want<00:01:29.759> right

ton of money whenever they want right

ton of money whenever they want right these<00:01:30.159> are<00:01:30.240> like<00:01:30.799> this<00:01:31.040> is<00:01:31.119> just<00:01:31.280> the<00:01:31.360> money

these are like this is just the money

these are like this is just the money they<00:01:31.759> spend<00:01:31.920> to<00:01:32.000> live<00:01:32.159> a<00:01:32.320> life<00:01:32.479> of<00:01:32.560> luxury<00:01:32.960> and

they spend to live a life of luxury and

they spend to live a life of luxury and they<00:01:33.119> don't<00:01:33.280> have<00:01:33.439> to<00:01:33.520> spend<00:01:33.759> that<00:01:33.920> right

they don't have to spend that right

they don't have to spend that right and<00:01:35.200> um

and um

and um most<00:01:36.880> of<00:01:37.040> our<00:01:37.200> recent<00:01:37.759> crises<00:01:38.799> like<00:01:39.119> covered

most of our recent crises like covered

most of our recent crises like covered in<00:01:39.520> 2020

in 2020

in 2020 like<00:01:41.040> 2008<00:01:41.920> financial<00:01:42.320> crisis

like 2008 financial crisis

like 2008 financial crisis if<00:01:43.600> you<00:01:43.680> go<00:01:43.759> back<00:01:43.920> to<00:01:44.000> the<00:01:44.079> great<00:01:44.240> depression

if you go back to the great depression

if you go back to the great depression early<00:01:45.040> last<00:01:45.280> year

early last year

early last year these<00:01:46.320> kinds<00:01:46.560> of<00:01:46.640> crises<00:01:47.119> that<00:01:47.280> actually<00:01:47.520> come

these kinds of crises that actually come

these kinds of crises that actually come about<00:01:48.560> because<00:01:49.119> people<00:01:49.520> suddenly<00:01:49.920> stop

about because people suddenly stop

about because people suddenly stop spending<00:01:50.560> money

spending money

spending money and<00:01:52.079> the<00:01:52.159> problem<00:01:52.479> with<00:01:52.640> this<00:01:52.880> is<00:01:54.320> these<00:01:54.560> are

and the problem with this is these are

and the problem with this is these are crises<00:01:55.520> but<00:01:55.680> they're<00:01:55.840> crises<00:01:56.320> which

crises but they're crises which

crises but they're crises which financially<00:01:57.680> benefit<00:01:58.159> the<00:01:58.240> rich

financially benefit the rich

financially benefit the rich because<00:01:59.759> if<00:01:59.920> rich<00:02:00.079> people<00:02:00.320> stop<00:02:00.479> spending

because if rich people stop spending

because if rich people stop spending their<00:02:00.960> money

their money

their money ordinary<00:02:02.880> people<00:02:03.119> still<00:02:03.280> have<00:02:03.360> to<00:02:03.439> keep

ordinary people still have to keep

ordinary people still have to keep giving<00:02:03.840> them<00:02:03.920> their<00:02:04.079> money<00:02:04.399> so<00:02:04.479> it<00:02:04.560> means<00:02:04.960> cash

giving them their money so it means cash

giving them their money so it means cash accumulation<00:02:05.920> these<00:02:06.079> are<00:02:06.159> basically<00:02:06.560> crises

accumulation these are basically crises

accumulation these are basically crises of<00:02:08.160> inequality<00:02:09.119> and<00:02:09.280> you<00:02:09.360> can<00:02:09.599> summarize<00:02:10.000> them

of inequality and you can summarize them

of inequality and you can summarize them by<00:02:10.319> saying<00:02:10.560> you<00:02:10.640> know<00:02:10.800> if<00:02:10.959> rich<00:02:11.200> people<00:02:11.440> stop

by saying you know if rich people stop

by saying you know if rich people stop spending<00:02:12.480> ordinary<00:02:12.959> people<00:02:13.120> stop<00:02:13.360> eating<00:02:13.760> you

spending ordinary people stop eating you

spending ordinary people stop eating you know<00:02:14.000> what<00:02:14.080> i<00:02:14.160> mean<00:02:14.560> because<00:02:14.720> the<00:02:14.879> rich<00:02:15.040> people

know what i mean because the rich people

know what i mean because the rich people own<00:02:15.520> the<00:02:15.599> food<00:02:16.000> and<00:02:16.080> they<00:02:16.239> own<00:02:16.400> the<00:02:16.480> houses<00:02:17.120> and

own the food and they own the houses and

own the food and they own the houses and they<00:02:17.360> own<00:02:17.520> the<00:02:17.599> transport<00:02:18.000> and<00:02:18.239> the<00:02:18.319> energy

they own the transport and the energy

they own the transport and the energy right<00:02:18.800> so<00:02:18.959> if<00:02:19.040> rich<00:02:19.200> people<00:02:19.440> stop<00:02:19.680> spending

right so if rich people stop spending

right so if rich people stop spending ordinary<00:02:20.879> people<00:02:21.520> then<00:02:21.920> have<00:02:22.160> nothing<00:02:22.879> to<00:02:23.040> pay

ordinary people then have nothing to pay

ordinary people then have nothing to pay the<00:02:23.360> rich<00:02:23.599> people<00:02:24.000> for

the rich people for

the rich people for housing<00:02:26.000> energy<00:02:26.720> food<00:02:27.120> transportation

housing energy food transportation

housing energy food transportation basically<00:02:28.000> essentials<00:02:28.480> right

basically essentials right

basically essentials right so

when<00:02:32.239> this<00:02:32.480> happens<00:02:33.040> when<00:02:33.280> you<00:02:33.360> have<00:02:33.440> these

when this happens when you have these

when this happens when you have these sort<00:02:33.760> of<00:02:33.840> crisis<00:02:34.239> of<00:02:34.319> inequality

sort of crisis of inequality

sort of crisis of inequality like<00:02:35.680> 2008<00:02:36.720> like<00:02:36.959> covered

like 2008 like covered

like 2008 like covered you<00:02:39.200> need<00:02:40.000> well<00:02:40.640> what<00:02:40.800> we're<00:02:40.959> going<00:02:41.040> to<00:02:41.120> talk

you need well what we're going to talk

you need well what we're going to talk about<00:02:41.519> is<00:02:41.599> the<00:02:41.760> four<00:02:42.000> different<00:02:42.319> ways<00:02:42.879> which

about is the four different ways which

about is the four different ways which you<00:02:43.200> can<00:02:43.360> manage<00:02:43.760> this<00:02:43.920> kind<00:02:44.080> of<00:02:44.160> crisis<00:02:44.640> okay

you can manage this kind of crisis okay

you can manage this kind of crisis okay the<00:02:46.000> first<00:02:46.239> thing<00:02:46.400> to<00:02:46.560> recognize<00:02:46.879> is<00:02:47.040> the<00:02:47.200> pain

the first thing to recognize is the pain

the first thing to recognize is the pain will<00:02:47.760> by<00:02:48.080> default<00:02:48.879> fall<00:02:49.200> onto<00:02:49.360> ordinary

will by default fall onto ordinary

will by default fall onto ordinary people<00:02:50.480> now<00:02:50.720> if<00:02:50.800> you<00:02:50.879> consider<00:02:51.280> for<00:02:51.360> example

people now if you consider for example

people now if you consider for example kovid<00:02:52.560> if<00:02:52.720> there<00:02:52.879> was<00:02:52.959> no<00:02:53.120> support<00:02:53.519> in<00:02:53.680> kovid

kovid if there was no support in kovid

kovid if there was no support in kovid well<00:02:54.640> rich<00:02:54.879> people<00:02:55.040> would<00:02:55.200> still<00:02:55.360> be<00:02:55.440> able<00:02:55.599> to

well rich people would still be able to

well rich people would still be able to eat<00:02:56.000> you<00:02:56.080> know<00:02:56.239> they'd<00:02:56.319> have<00:02:56.400> to<00:02:56.480> worry<00:02:56.640> about

eat you know they'd have to worry about

eat you know they'd have to worry about paying<00:02:57.040> rent<00:02:57.200> they'd<00:02:57.360> have<00:02:57.440> to<00:02:57.519> worry<00:02:57.680> about

paying rent they'd have to worry about

paying rent they'd have to worry about paying<00:02:58.000> the<00:02:58.080> mortgage<00:02:58.400> because<00:02:58.560> they<00:02:58.720> own

paying the mortgage because they own

paying the mortgage because they own those<00:02:59.120> things

those things

those things and<00:03:00.640> they<00:03:00.720> would<00:03:00.879> still<00:03:01.040> be<00:03:01.200> receiving<00:03:01.680> rent

and they would still be receiving rent

and they would still be receiving rent mortgage<00:03:02.480> income<00:03:03.120> it<00:03:03.280> would<00:03:03.360> have<00:03:03.440> been

mortgage income it would have been

mortgage income it would have been ordinary<00:03:04.080> people<00:03:04.319> who<00:03:04.400> can't<00:03:04.560> afford<00:03:04.800> to<00:03:04.879> pay

ordinary people who can't afford to pay

ordinary people who can't afford to pay the<00:03:05.120> rent<00:03:05.360> to<00:03:05.440> pay<00:03:05.599> their<00:03:05.680> mortgage<00:03:06.000> okay<00:03:06.480> so

the rent to pay their mortgage okay so

the rent to pay their mortgage okay so in<00:03:06.720> the<00:03:06.879> absence<00:03:07.280> of<00:03:07.599> any<00:03:07.840> action<00:03:08.080> from<00:03:08.239> the

in the absence of any action from the

in the absence of any action from the government

government

government what<00:03:09.599> you<00:03:09.760> literally<00:03:10.080> get<00:03:10.239> is<00:03:10.400> ordinary

what you literally get is ordinary

what you literally get is ordinary people<00:03:10.879> becoming<00:03:11.200> homeless<00:03:11.760> ordinary<00:03:12.319> people

people becoming homeless ordinary people

people becoming homeless ordinary people starving

starving

starving that's<00:03:14.720> generally<00:03:15.040> what<00:03:15.200> happens<00:03:15.440> right<00:03:15.680> and

that's generally what happens right and

that's generally what happens right and ordinary<00:03:16.560> people<00:03:16.720> not<00:03:16.800> being<00:03:16.959> able<00:03:17.040> to<00:03:17.120> apply

ordinary people not being able to apply

ordinary people not being able to apply heating<00:03:18.000> and<00:03:18.239> we're<00:03:18.400> starting<00:03:18.640> to<00:03:18.720> see<00:03:18.879> these

heating and we're starting to see these

heating and we're starting to see these kinds<00:03:19.200> of<00:03:19.280> things<00:03:19.440> happening<00:03:19.760> now<00:03:20.000> right

kinds of things happening now right

kinds of things happening now right which<00:03:20.319> is<00:03:20.400> the<00:03:20.560> pain<00:03:21.280> naturally<00:03:21.680> falls<00:03:21.920> on

which is the pain naturally falls on

which is the pain naturally falls on ordinary<00:03:22.560> people<00:03:22.800> and<00:03:22.879> of<00:03:22.959> course<00:03:23.120> the

ordinary people and of course the

ordinary people and of course the poorest<00:03:23.599> hurt<00:03:23.840> the<00:03:23.920> most<00:03:24.239> so<00:03:24.400> number<00:03:24.720> one<00:03:24.959> is

poorest hurt the most so number one is

poorest hurt the most so number one is basically<00:03:26.080> ordinary<00:03:26.560> people<00:03:26.799> suffer<00:03:27.120> they

basically ordinary people suffer they

basically ordinary people suffer they starve<00:03:27.599> they<00:03:27.760> become<00:03:28.000> homeless<00:03:28.640> you<00:03:28.799> know

starve they become homeless you know

starve they become homeless you know that's<00:03:29.280> number<00:03:29.519> one<00:03:29.680> way<00:03:29.840> to<00:03:29.920> deal<00:03:30.080> with<00:03:30.159> the

that's number one way to deal with the

that's number one way to deal with the crisis<00:03:30.560> a<00:03:30.640> crisis<00:03:30.959> of<00:03:31.040> inequality

crisis a crisis of inequality

crisis a crisis of inequality number<00:03:33.680> two<00:03:34.239> is<00:03:34.319> you<00:03:34.480> tax<00:03:34.799> people

number two is you tax people

number two is you tax people and<00:03:36.560> when<00:03:36.720> you<00:03:36.879> tax<00:03:37.120> people<00:03:37.360> there's<00:03:37.519> a

and when you tax people there's a

and when you tax people there's a question<00:03:37.760> of<00:03:37.840> who<00:03:38.000> do<00:03:38.080> you<00:03:38.239> tax<00:03:38.560> okay

question of who do you tax okay

question of who do you tax okay um<00:03:40.080> one<00:03:40.319> thing<00:03:40.480> you<00:03:40.560> can<00:03:40.640> do<00:03:40.720> is<00:03:40.799> you<00:03:40.959> tax<00:03:41.120> the

um one thing you can do is you tax the

um one thing you can do is you tax the middle<00:03:41.519> class<00:03:42.239> and<00:03:42.400> if<00:03:42.480> you<00:03:42.560> tax<00:03:42.799> the<00:03:42.879> middle

middle class and if you tax the middle

middle class and if you tax the middle class<00:03:44.000> then<00:03:44.640> you<00:03:44.799> can<00:03:44.959> keep<00:03:45.200> ordinary<00:03:45.680> people

class then you can keep ordinary people

class then you can keep ordinary people in<00:03:46.000> their<00:03:46.159> homes<00:03:46.480> and<00:03:46.560> you<00:03:46.720> can<00:03:46.799> keep<00:03:47.200> food

in their homes and you can keep food

in their homes and you can keep food getting<00:03:47.680> towards<00:03:47.920> new<00:03:48.080> people<00:03:48.799> but<00:03:48.959> you

getting towards new people but you

getting towards new people but you squeeze<00:03:49.680> the<00:03:49.840> middle<00:03:50.080> class<00:03:50.319> and<00:03:50.400> you<00:03:50.480> make

squeeze the middle class and you make

squeeze the middle class and you make life<00:03:50.799> harder<00:03:51.120> and<00:03:51.200> harder<00:03:51.440> for<00:03:51.519> your<00:03:51.680> middle

life harder and harder for your middle

life harder and harder for your middle class<00:03:52.159> you<00:03:52.319> know<00:03:52.640> people<00:03:52.959> who<00:03:53.200> are<00:03:53.280> not<00:03:53.439> poor

class you know people who are not poor

class you know people who are not poor but<00:03:53.840> they<00:03:53.920> don't<00:03:54.080> have<00:03:54.159> too<00:03:54.319> much<00:03:54.480> you<00:03:54.560> know

but they don't have too much you know

but they don't have too much you know what<00:03:54.720> i<00:03:54.720> mean<00:03:54.959> that's<00:03:55.120> one<00:03:55.599> option<00:03:56.319> the<00:03:56.480> third

what i mean that's one option the third

what i mean that's one option the third option<00:03:57.599> and<00:03:57.760> the<00:03:57.920> option<00:03:58.159> which<00:03:58.640> i'm

option and the option which i'm

option and the option which i'm continually<00:03:59.439> advocating<00:04:00.000> for<00:04:00.480> is<00:04:00.640> he<00:04:00.799> tax<00:04:01.040> the

continually advocating for is he tax the

continually advocating for is he tax the rich<00:04:01.840> attacks<00:04:02.159> the<00:04:02.239> rich<00:04:02.560> i<00:04:02.640> mean<00:04:03.280> during

rich attacks the rich i mean during

rich attacks the rich i mean during crisis<00:04:04.000> of<00:04:04.080> inequality<00:04:04.640> rich<00:04:04.799> people<00:04:05.040> tend<00:04:05.200> to

crisis of inequality rich people tend to

crisis of inequality rich people tend to get<00:04:05.439> much<00:04:05.680> much<00:04:05.840> much<00:04:06.080> richer<00:04:06.480> 2008<00:04:07.120> showed

get much much much richer 2008 showed

get much much much richer 2008 showed that

that

that covert<00:04:08.799> showed<00:04:09.040> that

covert showed that

covert showed that i<00:04:10.080> think<00:04:10.239> when<00:04:10.400> you<00:04:10.480> have<00:04:10.640> a<00:04:10.720> crisis<00:04:11.280> of

i think when you have a crisis of

i think when you have a crisis of inequality<00:04:12.000> where<00:04:12.159> richard<00:04:12.640> when<00:04:12.720> you<00:04:12.799> have<00:04:12.959> a

inequality where richard when you have a

inequality where richard when you have a crisis<00:04:13.760> where<00:04:13.920> rich<00:04:14.080> people<00:04:14.319> are<00:04:14.400> getting

crisis where rich people are getting

crisis where rich people are getting richer<00:04:15.280> the<00:04:15.519> obviously<00:04:15.920> correct<00:04:16.239> thing<00:04:16.320> to<00:04:16.400> do

richer the obviously correct thing to do

richer the obviously correct thing to do is<00:04:16.639> to<00:04:16.720> talk<00:04:16.880> to<00:04:16.959> rich<00:04:17.199> people<00:04:17.440> the<00:04:17.600> problem

is to talk to rich people the problem

is to talk to rich people the problem with<00:04:18.000> this<00:04:18.239> is<00:04:18.720> rich<00:04:18.880> people<00:04:19.120> are<00:04:19.199> very

with this is rich people are very

with this is rich people are very powerful<00:04:19.759> their<00:04:20.000> own<00:04:20.079> newspapers<00:04:21.040> their<00:04:21.280> own

powerful their own newspapers their own

powerful their own newspapers their own think<00:04:21.600> tanks<00:04:21.919> they<00:04:22.000> have<00:04:22.079> a<00:04:22.160> lot<00:04:22.240> of<00:04:22.400> influence

think tanks they have a lot of influence

think tanks they have a lot of influence they<00:04:23.280> you<00:04:23.440> know<00:04:23.680> our<00:04:23.840> chancellor<00:04:24.240> is<00:04:24.400> a<00:04:24.400> member

they you know our chancellor is a member

they you know our chancellor is a member of<00:04:24.720> a<00:04:24.800> billionaire<00:04:25.199> family<00:04:25.919> you<00:04:26.000> know

of a billionaire family you know

of a billionaire family you know they<00:04:27.919> fund<00:04:28.240> the<00:04:28.400> main<00:04:28.560> political<00:04:28.960> parties<00:04:29.520> and

they fund the main political parties and

they fund the main political parties and they're<00:04:29.759> going<00:04:29.840> to<00:04:29.919> push<00:04:30.080> back<00:04:30.240> against<00:04:30.560> this

they're going to push back against this

they're going to push back against this right<00:04:31.120> so

right so

right so you<00:04:32.560> have<00:04:32.639> three<00:04:32.880> options<00:04:33.280> number<00:04:33.520> one<00:04:33.919> is<00:04:34.080> you

you have three options number one is you

you have three options number one is you literally<00:04:34.639> let<00:04:35.199> ordering<00:04:35.680> poor<00:04:35.840> people

literally let ordering poor people

literally let ordering poor people starve<00:04:36.560> okay<00:04:37.040> i<00:04:37.120> think<00:04:37.280> we<00:04:37.360> would<00:04:37.520> all<00:04:37.680> agree

starve okay i think we would all agree

starve okay i think we would all agree this<00:04:38.080> is<00:04:38.479> something<00:04:38.720> we'd<00:04:38.880> rather<00:04:39.120> not<00:04:39.360> do<00:04:39.600> but

this is something we'd rather not do but

this is something we'd rather not do but it's<00:04:40.160> worth<00:04:40.400> pointing<00:04:40.639> out<00:04:40.720> that's<00:04:40.960> something

it's worth pointing out that's something

it's worth pointing out that's something we<00:04:41.199> are<00:04:41.360> doing<00:04:41.600> right<00:04:41.759> now<00:04:42.080> okay<00:04:42.800> number<00:04:43.120> two

we are doing right now okay number two

we are doing right now okay number two is<00:04:43.919> you<00:04:44.000> tax<00:04:44.240> the<00:04:44.320> middle<00:04:44.560> class

is you tax the middle class

is you tax the middle class then<00:04:45.840> probably<00:04:46.160> better<00:04:46.400> than<00:04:46.479> letting<00:04:46.639> poor

then probably better than letting poor

then probably better than letting poor people<00:04:47.120> starve<00:04:47.360> but<00:04:47.600> increasingly<00:04:48.080> the

people starve but increasingly the

people starve but increasingly the middle<00:04:48.400> class<00:04:48.639> being<00:04:48.800> squeezed<00:04:49.199> and

middle class being squeezed and

middle class being squeezed and squeezing<00:04:49.680> squeeze<00:04:49.919> and<00:04:50.000> what<00:04:50.160> you're<00:04:50.240> seeing

squeezing squeeze and what you're seeing

squeezing squeeze and what you're seeing now<00:04:50.639> is<00:04:50.800> it's<00:04:50.880> not<00:04:51.040> just<00:04:51.199> the<00:04:51.280> poor<00:04:51.440> who<00:04:51.600> are

now is it's not just the poor who are

now is it's not just the poor who are suffering<00:04:52.400> a<00:04:52.479> lot<00:04:52.639> of<00:04:52.720> people<00:04:52.880> in<00:04:52.960> the<00:04:53.040> middle

suffering a lot of people in the middle

suffering a lot of people in the middle are<00:04:53.600> really<00:04:53.759> getting<00:04:54.000> hurt<00:04:54.240> as<00:04:54.320> well<00:04:54.560> and

are really getting hurt as well and

are really getting hurt as well and this<00:04:55.600> again<00:04:55.919> is<00:04:56.080> something<00:04:56.320> we<00:04:56.400> are<00:04:56.560> doing

this again is something we are doing

this again is something we are doing because<00:04:57.520> national<00:04:57.759> insurance<00:04:58.160> which<00:04:58.320> is

because national insurance which is

because national insurance which is largely<00:04:58.720> attacked<00:04:58.960> on<00:04:59.040> the<00:04:59.120> middle<00:04:59.360> class<00:04:59.919> has

largely attacked on the middle class has

largely attacked on the middle class has been<00:05:00.320> raised<00:05:00.720> okay<00:05:01.199> so<00:05:01.440> the<00:05:01.520> government<00:05:01.840> is

been raised okay so the government is

been raised okay so the government is allowing<00:05:02.320> poor<00:05:02.479> people<00:05:02.720> to<00:05:02.880> start<00:05:03.120> to<00:05:03.280> starve

allowing poor people to start to starve

allowing poor people to start to starve to<00:05:03.840> an<00:05:04.000> extent<00:05:04.800> and<00:05:04.960> it<00:05:05.039> is<00:05:05.120> taxing<00:05:05.360> middle

to an extent and it is taxing middle

to an extent and it is taxing middle class<00:05:05.840> people<00:05:06.240> hasn't<00:05:06.560> raised<00:05:06.800> taxes<00:05:07.039> at<00:05:07.199> all

class people hasn't raised taxes at all

class people hasn't raised taxes at all on<00:05:07.440> the<00:05:07.520> rich<00:05:07.840> okay

on the rich okay

on the rich okay these<00:05:08.960> are<00:05:09.039> the<00:05:09.120> three<00:05:09.280> main<00:05:09.440> ways<00:05:09.680> you<00:05:09.759> deal

these are the three main ways you deal

these are the three main ways you deal with<00:05:10.080> it<00:05:10.320> you<00:05:10.479> let<00:05:10.639> people<00:05:11.120> suffer<00:05:11.840> you<00:05:12.000> tax

with it you let people suffer you tax

with it you let people suffer you tax the<00:05:12.320> middle<00:05:12.560> class<00:05:13.039> you<00:05:13.199> tax<00:05:13.440> the<00:05:13.520> rich

the middle class you tax the rich

the middle class you tax the rich there's<00:05:14.080> one<00:05:14.240> other<00:05:14.400> way<00:05:14.560> right<00:05:14.720> which<00:05:14.880> is<00:05:14.960> you

there's one other way right which is you

there's one other way right which is you print<00:05:15.280> money<00:05:16.000> and<00:05:16.240> this<00:05:16.479> is<00:05:16.560> something<00:05:16.800> which

print money and this is something which

print money and this is something which has<00:05:17.039> been<00:05:17.199> used<00:05:17.680> massively<00:05:18.240> massively

has been used massively massively

has been used massively massively massively<00:05:19.440> in<00:05:19.600> this<00:05:19.759> crisis<00:05:20.160> the<00:05:20.240> printing<00:05:20.560> of

massively in this crisis the printing of

massively in this crisis the printing of money<00:05:20.960> okay<00:05:21.199> and

money okay and

money okay and printing<00:05:22.400> of<00:05:22.479> money<00:05:23.120> seems<00:05:23.680> like

printing of money seems like

printing of money seems like a<00:05:24.880> really<00:05:25.120> attractive<00:05:25.600> option<00:05:25.840> right<00:05:26.000> when

a really attractive option right when

a really attractive option right when you<00:05:26.400> look<00:05:26.560> at<00:05:26.639> those<00:05:26.800> other<00:05:26.960> three<00:05:27.199> options

you look at those other three options

you look at those other three options right<00:05:28.080> letting<00:05:28.560> people<00:05:28.880> starve

right letting people starve

right letting people starve very<00:05:30.080> unattractive<00:05:30.800> tax<00:05:31.039> in<00:05:31.120> the<00:05:31.199> middle

very unattractive tax in the middle

very unattractive tax in the middle class<00:05:31.680> are<00:05:31.759> already<00:05:32.080> struggling<00:05:32.560> very

class are already struggling very

class are already struggling very unattractive<00:05:33.360> and<00:05:33.759> not<00:05:34.000> popular<00:05:34.320> politically

unattractive and not popular politically

unattractive and not popular politically because<00:05:35.039> this<00:05:35.120> is<00:05:35.280> a<00:05:35.280> lot<00:05:35.440> of<00:05:35.520> people

because this is a lot of people

because this is a lot of people taxing<00:05:37.360> the<00:05:37.520> rich<00:05:37.919> well<00:05:38.160> this<00:05:38.320> is<00:05:38.479> like

taxing the rich well this is like

taxing the rich well this is like literally

literally

literally the<00:05:40.560> rich<00:05:41.120> it<00:05:41.280> seems<00:05:41.520> effectively<00:05:42.000> on<00:05:42.160> the

the rich it seems effectively on the

the rich it seems effectively on the government<00:05:42.720> and<00:05:43.199> the<00:05:43.280> newspaper<00:05:43.680> so<00:05:43.840> this<00:05:43.919> is

government and the newspaper so this is

government and the newspaper so this is exactly<00:05:44.240> what<00:05:44.320> they<00:05:44.479> don't<00:05:44.639> want<00:05:44.800> to<00:05:44.960> do

exactly what they don't want to do

exactly what they don't want to do and<00:05:46.720> then<00:05:46.880> you<00:05:46.960> have<00:05:47.039> this<00:05:47.280> other<00:05:47.360> thing<00:05:47.520> well

and then you have this other thing well

and then you have this other thing well there's<00:05:47.840> a<00:05:47.919> print<00:05:48.080> money<00:05:48.240> we<00:05:48.320> don't<00:05:48.560> tax

there's a print money we don't tax

there's a print money we don't tax anybody

anybody

anybody fantastic<00:05:50.320> right<00:05:50.560> and<00:05:50.639> this<00:05:50.800> is<00:05:51.039> actually<00:05:51.440> the

fantastic right and this is actually the

fantastic right and this is actually the number<00:05:51.919> one<00:05:52.080> thing<00:05:52.240> which<00:05:52.400> you've<00:05:52.560> chosen<00:05:52.880> in

number one thing which you've chosen in

number one thing which you've chosen in this<00:05:53.199> crisis<00:05:53.600> is<00:05:53.680> the<00:05:53.840> printing<00:05:54.160> of<00:05:54.240> money<00:05:54.560> and

this crisis is the printing of money and

this crisis is the printing of money and um

um

um the<00:05:56.400> point<00:05:56.639> i<00:05:56.720> want<00:05:56.880> to<00:05:56.960> really<00:05:57.199> make<00:05:57.440> here<00:05:57.919> is

the point i want to really make here is

the point i want to really make here is when<00:05:59.039> you<00:05:59.199> use<00:05:59.440> printing<00:05:59.759> money<00:06:00.000> as<00:06:00.160> your

when you use printing money as your

when you use printing money as your option

somebody<00:06:03.440> loses

somebody loses

somebody loses that<00:06:05.039> money<00:06:05.440> is<00:06:05.600> not<00:06:05.759> like<00:06:06.160> resources<00:06:06.639> if<00:06:06.800> you

that money is not like resources if you

that money is not like resources if you make<00:06:07.039> more<00:06:07.199> resources<00:06:07.759> and<00:06:07.840> you<00:06:07.919> give<00:06:08.080> them<00:06:08.160> to

make more resources and you give them to

make more resources and you give them to one<00:06:08.400> group<00:06:08.639> they're<00:06:08.800> richer<00:06:09.120> everyone<00:06:09.360> else

one group they're richer everyone else

one group they're richer everyone else is<00:06:09.600> fine<00:06:10.319> but<00:06:10.639> money

is fine but money

is fine but money is

is

is by<00:06:13.840> its<00:06:14.080> nature<00:06:14.479> a<00:06:14.639> relative<00:06:15.039> resource<00:06:15.680> you

by its nature a relative resource you

by its nature a relative resource you know<00:06:16.080> because<00:06:16.400> money<00:06:17.039> is<00:06:17.120> something<00:06:17.440> used<00:06:17.680> to

know because money is something used to

know because money is something used to buy<00:06:17.919> real<00:06:18.160> resources<00:06:19.039> and<00:06:19.199> if<00:06:19.280> somebody<00:06:19.759> else

buy real resources and if somebody else

buy real resources and if somebody else gets<00:06:20.960> a<00:06:21.039> load<00:06:21.280> more<00:06:21.520> money<00:06:22.160> then<00:06:22.400> they<00:06:22.560> will

gets a load more money then they will

gets a load more money then they will get<00:06:22.880> a<00:06:22.960> bigger<00:06:23.199> share<00:06:23.360> of<00:06:23.440> the<00:06:23.520> real<00:06:23.680> resources

get a bigger share of the real resources

get a bigger share of the real resources which<00:06:24.160> means<00:06:24.400> you<00:06:24.479> will<00:06:24.560> get<00:06:24.720> less

which means you will get less

which means you will get less so<00:06:26.400> when<00:06:26.960> money<00:06:27.280> printing<00:06:27.600> is<00:06:28.160> used<00:06:28.479> as<00:06:28.720> a

so when money printing is used as a

so when money printing is used as a solution

solution

solution it's<00:06:30.160> very<00:06:30.400> very<00:06:30.560> important<00:06:30.880> that<00:06:31.039> you

it's very very important that you

it's very very important that you understand<00:06:31.600> who<00:06:31.759> gets<00:06:32.000> the<00:06:32.080> money<00:06:32.880> and<00:06:33.039> if<00:06:33.199> you

understand who gets the money and if you

understand who gets the money and if you are<00:06:33.520> not<00:06:33.759> the<00:06:33.840> group<00:06:34.000> that<00:06:34.160> gets<00:06:34.319> the<00:06:34.479> money

are not the group that gets the money

are not the group that gets the money it's<00:06:35.199> important<00:06:35.440> to<00:06:35.520> understand<00:06:35.919> that

it's important to understand that

it's important to understand that effectively<00:06:36.720> it's<00:06:36.800> the<00:06:36.880> same<00:06:37.120> as<00:06:37.280> taxing<00:06:37.680> you

effectively it's the same as taxing you

effectively it's the same as taxing you but<00:06:38.720> you<00:06:38.800> don't<00:06:39.039> see<00:06:39.199> it<00:06:39.360> as<00:06:39.520> a<00:06:39.600> tax<00:06:40.319> you<00:06:40.479> will

but you don't see it as a tax you will

but you don't see it as a tax you will see<00:06:40.800> it<00:06:40.880> as<00:06:41.039> inflation

see it as inflation

see it as inflation so<00:06:42.639> this<00:06:42.880> is<00:06:43.440> what<00:06:43.680> is<00:06:43.759> happening<00:06:44.160> now

so this is what is happening now

so this is what is happening now is<00:06:45.199> exactly<00:06:45.680> what<00:06:45.840> you<00:06:45.919> would<00:06:46.160> expect<00:06:46.639> to

is exactly what you would expect to

is exactly what you would expect to happen<00:06:47.600> if<00:06:47.759> you<00:06:47.919> deal<00:06:48.080> with<00:06:48.240> the<00:06:48.400> crisis<00:06:49.120> by

happen if you deal with the crisis by

happen if you deal with the crisis by printing<00:06:49.759> money<00:06:50.080> and<00:06:50.160> that<00:06:50.319> money<00:06:50.560> goes<00:06:50.720> to

printing money and that money goes to

printing money and that money goes to the<00:06:50.960> rich<00:06:51.440> which<00:06:51.680> is<00:06:51.759> the<00:06:51.840> rich<00:06:52.080> will<00:06:52.160> get

the rich which is the rich will get

the rich which is the rich will get richer<00:06:53.039> all<00:06:53.120> the<00:06:53.280> prices<00:06:53.599> will<00:06:53.759> go<00:06:53.919> up

richer all the prices will go up

richer all the prices will go up ordinary<00:06:54.720> people<00:06:54.960> get<00:06:55.120> poorer<00:06:55.520> and<00:06:55.599> they<00:06:55.759> will

ordinary people get poorer and they will

ordinary people get poorer and they will see<00:06:56.160> that<00:06:56.400> increased<00:06:56.720> poverty<00:06:57.280> coming

see that increased poverty coming

see that increased poverty coming through<00:06:58.240> inflation

through inflation

through inflation you<00:06:59.759> see<00:06:59.919> what<00:07:00.000> i'm<00:07:00.080> saying<00:07:00.880> like<00:07:01.120> if<00:07:01.199> you

you see what i'm saying like if you

you see what i'm saying like if you what<00:07:03.599> i<00:07:03.680> want<00:07:03.840> ordinary<00:07:04.160> people<00:07:04.400> to

what i want ordinary people to

what i want ordinary people to understand<00:07:05.360> that<00:07:05.599> printed<00:07:06.000> money<00:07:06.240> being

understand that printed money being

understand that printed money being given<00:07:06.639> to<00:07:06.720> the<00:07:06.800> rich<00:07:07.039> is<00:07:07.199> the<00:07:07.280> same<00:07:07.599> as<00:07:07.759> taxing

given to the rich is the same as taxing

given to the rich is the same as taxing you<00:07:08.800> it's<00:07:08.960> the<00:07:09.280> same<00:07:09.599> as<00:07:09.759> taxing<00:07:10.160> you<00:07:10.560> but

you it's the same as taxing you but

you it's the same as taxing you but rather<00:07:11.120> than<00:07:11.280> seeing<00:07:11.520> the<00:07:11.680> pain<00:07:12.319> as<00:07:12.560> the<00:07:12.639> tax

rather than seeing the pain as the tax

rather than seeing the pain as the tax coming<00:07:13.120> out<00:07:13.199> of<00:07:13.280> your<00:07:13.440> payment<00:07:14.080> of<00:07:14.240> your<00:07:14.400> pay

coming out of your payment of your pay

coming out of your payment of your pay packet<00:07:15.280> you<00:07:15.520> will<00:07:15.599> see<00:07:15.759> the<00:07:15.919> pain<00:07:16.560> as<00:07:16.720> prices

packet you will see the pain as prices

packet you will see the pain as prices going<00:07:17.280> up<00:07:17.440> in<00:07:17.520> the<00:07:17.599> shops<00:07:18.080> and<00:07:18.240> those<00:07:18.479> prices

going up in the shops and those prices

going up in the shops and those prices going<00:07:18.960> up<00:07:19.039> in<00:07:19.199> the<00:07:19.280> shops<00:07:19.680> that<00:07:19.840> is<00:07:20.000> the

going up in the shops that is the

going up in the shops that is the manifestation<00:07:20.960> of<00:07:21.199> rich<00:07:21.440> people<00:07:21.599> being

manifestation of rich people being

manifestation of rich people being richer

richer

richer so

so

so what<00:07:25.280> i<00:07:25.360> want<00:07:25.520> people<00:07:25.680> to<00:07:25.840> understand<00:07:26.400> is<00:07:26.560> we

what i want people to understand is we

what i want people to understand is we do<00:07:26.880> not<00:07:27.120> have<00:07:27.280> two<00:07:27.520> separate<00:07:27.840> crisis<00:07:28.319> here<00:07:28.800> we

do not have two separate crisis here we

do not have two separate crisis here we don't<00:07:29.199> have<00:07:29.360> one<00:07:29.680> crisis<00:07:30.400> of<00:07:30.479> the<00:07:30.560> rich

don't have one crisis of the rich

don't have one crisis of the rich getting<00:07:31.039> richer<00:07:31.360> and<00:07:31.599> another<00:07:31.919> crisis<00:07:32.400> of

getting richer and another crisis of

getting richer and another crisis of inflation<00:07:32.880> appalling<00:07:33.280> living<00:07:33.520> standards

inflation appalling living standards

inflation appalling living standards the<00:07:35.039> inflation<00:07:35.520> and<00:07:35.599> falling<00:07:35.919> living

the inflation and falling living

the inflation and falling living standards<00:07:37.039> is<00:07:37.360> the<00:07:37.520> rich<00:07:37.759> getting<00:07:37.919> richer

standards is the rich getting richer

standards is the rich getting richer because<00:07:38.800> the<00:07:38.880> rich<00:07:39.120> are<00:07:39.199> getting<00:07:39.440> richer

because the rich are getting richer

because the rich are getting richer right<00:07:39.840> printed<00:07:40.160> money<00:07:40.560> and<00:07:40.720> when<00:07:41.039> the<00:07:41.120> rich

right printed money and when the rich

right printed money and when the rich get<00:07:41.520> richer<00:07:41.759> i<00:07:41.840> printed<00:07:42.160> money<00:07:42.720> you<00:07:43.039> get<00:07:43.199> hurt

get richer i printed money you get hurt

get richer i printed money you get hurt by<00:07:43.759> inflation

by inflation

by inflation so

to<00:07:48.160> summarize

to summarize

to summarize when<00:07:49.919> there<00:07:50.080> is<00:07:50.240> a<00:07:50.319> crisis<00:07:50.800> of<00:07:50.960> inequality

when there is a crisis of inequality

when there is a crisis of inequality which<00:07:52.560> the<00:07:52.639> way<00:07:52.800> to<00:07:52.960> identify<00:07:53.440> a<00:07:53.520> crisis<00:07:53.840> of

which the way to identify a crisis of

which the way to identify a crisis of inequalities<00:07:54.479> either<00:07:54.720> it's<00:07:54.879> getting<00:07:55.039> richer

inequalities either it's getting richer

inequalities either it's getting richer you<00:07:55.520> know<00:07:55.840> if<00:07:55.919> there's<00:07:56.080> an<00:07:56.240> earthquake<00:07:56.639> the

you know if there's an earthquake the

you know if there's an earthquake the rich<00:07:56.879> don't<00:07:57.039> get<00:07:57.199> richer<00:07:57.520> you<00:07:57.599> know<00:07:57.680> what<00:07:57.680> i

rich don't get richer you know what i

rich don't get richer you know what i mean<00:07:58.160> but<00:07:58.400> in<00:07:58.479> covid<00:07:59.120> and<00:07:59.360> in<00:07:59.440> 2008<00:08:00.400> the<00:08:00.560> rich

mean but in covid and in 2008 the rich

mean but in covid and in 2008 the rich got<00:08:00.960> richer<00:08:01.360> which<00:08:01.680> which<00:08:02.000> is<00:08:02.160> a<00:08:02.240> good<00:08:02.479> sign<00:08:03.440> if

got richer which which is a good sign if

got richer which which is a good sign if the<00:08:03.759> poor<00:08:03.919> are<00:08:04.000> getting<00:08:04.160> poor<00:08:04.319> and<00:08:04.400> the<00:08:04.479> rich

the poor are getting poor and the rich

the poor are getting poor and the rich getting<00:08:04.879> richer<00:08:05.440> it's<00:08:05.520> a<00:08:05.599> good<00:08:05.759> sign<00:08:06.000> that

getting richer it's a good sign that

getting richer it's a good sign that it's<00:08:06.240> crisis<00:08:06.639> inequality<00:08:07.199> right

it's crisis inequality right

it's crisis inequality right when<00:08:08.479> you<00:08:08.560> see<00:08:08.720> that<00:08:08.879> happening<00:08:09.599> there<00:08:09.759> are

when you see that happening there are

when you see that happening there are four<00:08:10.000> ways<00:08:10.160> to<00:08:10.240> deal<00:08:10.400> with<00:08:10.560> it<00:08:11.039> one<00:08:11.360> you<00:08:11.520> do

four ways to deal with it one you do

four ways to deal with it one you do nothing<00:08:12.080> which<00:08:12.240> is<00:08:12.400> literally<00:08:12.720> letting

nothing which is literally letting

nothing which is literally letting people<00:08:13.120> become<00:08:13.280> homeless<00:08:13.599> then<00:08:13.759> people<00:08:14.080> start

people become homeless then people start

people become homeless then people start two<00:08:14.960> you<00:08:15.120> tax<00:08:15.280> the<00:08:15.360> middle<00:08:15.680> class<00:08:15.919> which<00:08:16.160> by

two you tax the middle class which by

two you tax the middle class which by the<00:08:16.400> way<00:08:16.479> is<00:08:16.639> not<00:08:16.800> what<00:08:16.879> i'm<00:08:17.039> advocating<00:08:17.599> for

the way is not what i'm advocating for

the way is not what i'm advocating for three<00:08:18.639> you<00:08:18.800> tax<00:08:19.039> the<00:08:19.120> rich<00:08:19.440> which<00:08:19.680> 100<00:08:20.479> is<00:08:20.560> what

three you tax the rich which 100 is what

three you tax the rich which 100 is what i'm<00:08:20.879> advocating<00:08:21.360> for<00:08:21.919> or<00:08:22.080> for<00:08:22.240> you<00:08:22.400> print

i'm advocating for or for you print

i'm advocating for or for you print money

money

money and<00:08:23.840> it's<00:08:24.000> important<00:08:24.319> to<00:08:24.479> realize<00:08:25.360> that<00:08:25.520> if

and it's important to realize that if

and it's important to realize that if the<00:08:25.840> printing<00:08:26.240> money<00:08:26.639> option<00:08:26.879> is<00:08:26.960> the<00:08:27.039> option

the printing money option is the option

the printing money option is the option chosen

chosen

chosen you<00:08:29.280> need<00:08:29.440> to<00:08:29.599> know<00:08:29.919> am<00:08:30.160> i<00:08:30.240> the<00:08:30.400> group<00:08:30.560> that<00:08:30.720> got

you need to know am i the group that got

you need to know am i the group that got the<00:08:31.039> money<00:08:31.280> or<00:08:31.440> the<00:08:31.520> group<00:08:31.680> that<00:08:31.840> didn't<00:08:32.399> and

the money or the group that didn't and

the money or the group that didn't and in<00:08:32.640> this<00:08:32.800> country<00:08:33.360> you<00:08:33.440> know<00:08:33.599> unless<00:08:33.839> you're

in this country you know unless you're

in this country you know unless you're in<00:08:34.159> the<00:08:34.240> top<00:08:34.399> ten<00:08:34.560> percent<00:08:34.959> you<00:08:35.120> wouldn't<00:08:35.440> i

in the top ten percent you wouldn't i

in the top ten percent you wouldn't i didn't<00:08:35.760> get<00:08:35.919> the<00:08:36.000> money

didn't get the money

didn't get the money the<00:08:37.039> rich<00:08:37.279> got<00:08:37.440> the<00:08:37.519> money<00:08:38.080> it<00:08:38.240> was<00:08:38.320> a<00:08:38.399> huge

the rich got the money it was a huge

the rich got the money it was a huge amount<00:08:38.880> of<00:08:38.959> money<00:08:39.519> that<00:08:39.760> is<00:08:39.839> equivalent<00:08:40.399> to

amount of money that is equivalent to

amount of money that is equivalent to taxing<00:08:40.959> you<00:08:41.200> and<00:08:41.360> you<00:08:41.440> will<00:08:41.599> see<00:08:41.680> that<00:08:41.839> pain<00:08:42.080> by

taxing you and you will see that pain by

taxing you and you will see that pain by inflation<00:08:43.039> so<00:08:43.200> the<00:08:43.360> pain<00:08:43.599> you<00:08:43.839> are<00:08:43.919> suffering

inflation so the pain you are suffering

inflation so the pain you are suffering now<00:08:44.959> if<00:08:45.120> you<00:08:45.200> are<00:08:45.279> an<00:08:45.440> ordinary<00:08:45.920> person<00:08:46.399> or<00:08:46.560> a

now if you are an ordinary person or a

now if you are an ordinary person or a poorer<00:08:46.959> person<00:08:47.279> in<00:08:47.440> this<00:08:47.519> country

poorer person in this country

poorer person in this country is<00:08:48.640> the<00:08:48.720> manifestation<00:08:49.519> of<00:08:49.680> the<00:08:49.760> government

is the manifestation of the government

is the manifestation of the government choosing

choosing

choosing rather<00:08:52.000> than<00:08:52.080> to<00:08:52.240> tax<00:08:52.480> the<00:08:52.560> rich

rather than to tax the rich

rather than to tax the rich to<00:08:54.000> print<00:08:54.240> money<00:08:54.560> and<00:08:54.720> allow<00:08:54.959> the<00:08:55.040> roots<00:08:55.279> to

to print money and allow the roots to

to print money and allow the roots to get<00:08:55.440> richer<00:08:56.320> and<00:08:56.640> that<00:08:56.800> pain<00:08:57.120> is<00:08:57.279> inevitable

get richer and that pain is inevitable

get richer and that pain is inevitable unless<00:08:58.800> we<00:08:58.959> take<00:08:59.120> that<00:08:59.279> third<00:08:59.600> option<00:09:00.320> which<00:09:00.560> i

unless we take that third option which i

unless we take that third option which i think<00:09:00.880> we<00:09:00.959> should<00:09:01.120> all<00:09:01.279> agree<00:09:01.519> is<00:09:01.600> the<00:09:01.680> right

think we should all agree is the right

think we should all agree is the right option<00:09:02.320> but<00:09:02.480> for<00:09:02.640> some<00:09:02.800> reason<00:09:03.200> our

option but for some reason our

option but for some reason our billionaire<00:09:03.760> chancellor<00:09:04.320> and<00:09:04.480> his

billionaire chancellor and his

billionaire chancellor and his multi-millionaire<00:09:05.680> mates<00:09:05.839> don't<00:09:06.000> want<00:09:06.080> to

multi-millionaire mates don't want to

multi-millionaire mates don't want to choose

choose

choose if<00:09:07.920> we<00:09:08.000> don't<00:09:08.160> take<00:09:08.320> that<00:09:08.480> third<00:09:08.720> option<00:09:09.360> this

if we don't take that third option this

if we don't take that third option this pain<00:09:09.839> doesn't<00:09:10.080> get<00:09:10.320> better

pain doesn't get better

pain doesn't get better that's<00:09:12.000> the<00:09:12.080> key<00:09:12.320> so<00:09:12.720> it's<00:09:12.959> supposed<00:09:13.200> to<00:09:13.279> be<00:09:13.360> an

that's the key so it's supposed to be an

that's the key so it's supposed to be an educational<00:09:13.920> video<00:09:14.720> explaining<00:09:15.440> crisis<00:09:15.839> of

educational video explaining crisis of

educational video explaining crisis of inequality<00:09:16.880> explaining<00:09:17.279> that<00:09:17.440> printing

inequality explaining that printing

inequality explaining that printing money

money

money will<00:09:19.360> make<00:09:19.519> the<00:09:19.600> rich<00:09:19.760> richer<00:09:20.640> and<00:09:20.800> we'll<00:09:20.959> make

will make the rich richer and we'll make

will make the rich richer and we'll make you<00:09:21.440> poorer<00:09:22.000> and<00:09:22.240> the<00:09:22.480> inflation

you poorer and the inflation

you poorer and the inflation is<00:09:24.000> not<00:09:24.320> separate<00:09:24.880> from<00:09:25.040> the<00:09:25.200> increase

is not separate from the increase

is not separate from the increase inequality<00:09:26.080> it<00:09:26.399> is<00:09:26.880> caused<00:09:27.200> by<00:09:27.360> the<00:09:27.519> increased

inequality it is caused by the increased

inequality it is caused by the increased inequality<00:09:28.640> and<00:09:28.720> the<00:09:28.880> only<00:09:29.200> way<00:09:29.519> to<00:09:29.680> get

inequality and the only way to get

inequality and the only way to get through<00:09:30.000> a<00:09:30.080> crisis<00:09:30.480> like<00:09:30.640> this<00:09:31.120> without

through a crisis like this without

through a crisis like this without making<00:09:31.760> living<00:09:32.080> standards<00:09:32.480> worse<00:09:32.880> for

making living standards worse for

making living standards worse for ordinary<00:09:33.600> people<00:09:34.240> is<00:09:34.399> to<00:09:34.480> tax

ordinary people is to tax

ordinary people is to tax thank<00:09:35.839> you<00:09:35.920> for<00:09:36.080> coming<00:09:36.320> to<00:09:36.399> my<00:09:36.560> ted<00:09:36.720> talk

thank you for coming to my ted talk

thank you for coming to my ted talk yeah<00:09:38.480> we're<00:09:38.640> good<00:09:38.800> yeah

so<00:09:42.560> it's<00:09:42.720> intentionally<00:09:43.279> designed<00:09:43.920> national

so it's intentionally designed national

so it's intentionally designed national insurance<00:09:44.959> so<00:09:45.120> that<00:09:45.360> very<00:09:45.680> rich<00:09:46.000> people<00:09:46.560> pay<00:09:46.800> a

insurance so that very rich people pay a

insurance so that very rich people pay a very<00:09:47.040> low<00:09:47.279> percent<00:09:47.920> th

very low percent th

very low percent th there<00:09:48.880> is<00:09:49.040> one<00:09:49.279> other<00:09:49.440> thing<00:09:49.600> they<00:09:49.760> can<00:09:49.920> do

there is one other thing they can do

there is one other thing they can do with<00:09:50.240> that<00:09:50.399> mass<00:09:50.640> amount<00:09:50.880> of<00:09:50.959> income

with that mass amount of income

with that mass amount of income they<00:09:52.399> can<00:09:52.560> buy<00:09:52.720> your<00:09:52.800> mom's<00:09:53.040> house

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