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How We Fix Wealth Inequality

March 03, 2024
Wealth Inequality Enough is Enough Tax Wealth Not Work Economics of Covid Rich get Richer Poor get Poorer Economics Explained Tax the Rich End Austerity Billionaire Poverty
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So we get a lot of comments

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saying, oh yeah, it's all well

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and good, you identified the problem,

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but how do we fix it? How do we fix it?

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Understandable frustration

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because things are bad, things are getting worse,

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and I make that very clear.

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But I guess people would suggest, like,

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how does that help? Unless you have a solution.

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So I wanted to do a video where we basically, sort of,

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talk about that and talk about what the solution is.

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whenever I hear people say, what are the solutions,

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I always hear

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in my head two separate questions.

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So, I mean, the first thing is,

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if you want a solution,

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you do need to understand the problem.

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And I have a very, very clear understanding of,

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in my opinion, what the problem is,

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which is that we have a growing wealth inequality.

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If you want to make things better,

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you have to bring that wealth inequality down.

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If you want to stop things getting worse,

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you at least have to stop it from increasing.

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It's increasing at the moment very quickly.

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This is what we talk about all the time,

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it's up to people whether they agree with me on that.

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Once you accept that, then how do you fix it?

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And I always hear two questions there,

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which is, number one,

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technically, how do you reduce wealth inequality

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or at least how do you stop it from increasing?

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And number two,

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how do you build the popular support for it?

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I think these are basically,

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these are the two battles which you have to win.

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You have to win both.

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There's no point winning one without the other.

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You know, if you work out the taxes

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but people don't support, you won't get the tax.

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If you get people to support it but you then, you

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then apply the tax badly, you’ll f*ck things up.

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So you need to win both of those battles.

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And I think

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the first thing which I want people to understand is

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we are not going to win this soon.

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This is like number one thing

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which you have to realise.

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We are not going to...

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at the moment wealth inequality

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is increasing really quickly.

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Living standards are falling quite quickly.

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That will continue,

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you know, I'd be very surprised

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if we got any improvement on that

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in at least a couple of years.

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So, number one, like, sit with that for a bit

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because that's something to deal with.

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Like, that is something that you need to recognise.

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Like, if you are hoping for better soon,

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you're not going to get better soon.

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And that is like a really depressing message to give.

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But it's better to know that now

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than to sit around hoping for improvement

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that doesn't come.

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So number one, except that, once you've accepted that,

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then the next thing that you should accept after that,

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is that if we want to,

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if we want improvement, we

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have to win the long term battle

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because we're not going to win the short term battle.

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We lost the short term battle.

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We have to win the long term battle.

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And that is why everything that I do

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is focused on winning the long term battle.

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Which is,

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let me flip it

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to a more positive way of looking at it,

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which I think is true.

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The opportunity here

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to win the kind of

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ideological theoretical debate

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has never been bigger because

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the percentage of people

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in this country

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and throughout the West

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are being really hurt by the economic changes

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now is bigger than it has been

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for, since before the Second World

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War, basically an enormous amount.

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The current system is not working

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for an enormous number of people

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and that percentage of people is increasing.

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Now, if you go back and you look at

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the 2010, 2015 austerity period of the 2010s, basically

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austerity decade in this country,

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the pain was really loaded on like the bottom 20%.

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And a lot of people will have felt a bit of pain.

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But the pain was really loaded on the poorest.

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And from the perspective of a democracy,

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it's difficult to stop that

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because the poorest are a minority

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and it's hard for them to defend themselves.

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Whereas now what you have is

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50, 60, 70,

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you know, pushing up to 80% of people getting hit.

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That won't change.

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That's going to keep happening.

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So you have a massive opportunity here

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to create this

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broad political coalition of

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people that are getting hurt.

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So we have a massive opportunity

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and not only that, it is definitely becoming

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increasingly clear

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to an increasingly large number of people

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that the status quo is not working.

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And there's really demand for an alternative.

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And I don't think there are many

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appealing alternatives being pushed.

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And the ones that are being pushed,

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I think are unlikely to work.

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So the gap which we can fill has never been bigger.

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There's a real big space

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to bring a lot of people together to change the system,

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which is increasingly

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clearly not working for a large number of people.

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But we're a long way from reaching them.

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I think, I’m me, I’m one person.

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And I think the biggest thing that I can do is to

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grow this voice as

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possible and I think, as big as possible.

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But I think it needs to be really

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clearly focused on

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building this really clear narrative

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that the reason things are getting worse

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is because wealth inequality is getting worse.

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And the only way to make things better

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is to make wealth inequality better.

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And the strength

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that we will always have with that argument

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is that it's correct,

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which means that time will continually prove it

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correct in the sense that,

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you know,

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Rishi Sunak and Jeremy Hunt are going to go on TV.

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They're going to get voted out.

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But, you know, Labour will come in

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and they will say,

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we're going to do the things,

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I'm going to fix the economy,

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we're going to make the economy better,

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but they won't fix wealth inequality.

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And I'll come out in this channel and I will say,

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well, Labour will make all these promises,

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but they're not going to make the economy better

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because they're not victims of inequality.

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And I will be right

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and I will make a lot of clear predictions

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about how that will manifest.

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Rising house prices, decreased home

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ownership, increased levels of debt,

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decrease living conditions,

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And I will be the one who is right.

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My predictions will be right

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and this will keep happening.

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So I think the power that we have behind this voice

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is that it's correct,

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whereas the mainstream politicians will continually

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sell tales of improvement, which won't happen.

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We will be out saying, no, things will get worse.

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You know,

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you can go back and look at our videos from June 2020.

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You know what I'm predicting

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there's going to be an inflation

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crisis, there’s going to be a cost of living

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crisis, there's going to be like a massive

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collapse in living standards in this country.

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And that's all proved right.

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You know, the longer we keep making this channel,

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the longer we have this long

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track record of

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of being correct when everyone else is being wrong.

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And I think that gives us this really

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powerful opportunity to build a big message.

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And I think there will be people out there

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that would say, you know, well,

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we don't

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you know, we don't want to support your channel, Gary,

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we don't want this to be like, you know,

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you're not going to just be some saviour

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that saves the world.

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And I 100% agree with that message

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because I don't want it to be just me, you know.

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And it won't and we won't win if it's just me.

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Like what I see myself as doing is

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helping people to understand what's happening.

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And then you go take the understanding

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and you build your message.

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This is the way like,

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of course I'm trying to grow my message,

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but we don't win by making this YouTube

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channel have a million subs,

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you know what I mean, it's no good.

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We're not going to win.

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It would be great if we had millions subs,

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and I think we will get there one day, but

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we won't win.

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We will win

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if my YouTube channel has a million subs

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and f*cking his does, and his does, and his does,

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and you know, not just on YouTube, you’re

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spreading your message in whatever way you can,

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you know what I mean, and that's like,

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you know

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if you can build a big voice for yourself great

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but you don't need to

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you know

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if enough people spread this message

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within their communities, that would be enough.

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You know, their friends, their family,

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the people they go to football with, their workmates.

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You know, this...

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I don't see this is as about being me...

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I don't want this to be about me.

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I want this to be about one clear, true idea,

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which is you cannot make this better

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unless you deal with this problem,

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this problem of wealth inequality.

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And, you know, I look at the way that,

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you know, Nigel Farage

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created a country where, you know, 60% of people

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demanded Brexit and he f*cking got his Brexit.

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You know,

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for better or worse he got it, you know,

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and you know that

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as everybody is seeing

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and I think people continue to see did not

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and will not fix our economic problems,

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we need to make this happen for wealth inequality.

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We need to create a country where it becomes

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common knowledge, just general common sense.

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If you don't fix wealth inequality,

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don't fix the problem.

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And then then people like me

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and hopefully other people who will adopt the message.

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We can hold the politicians feet to the fire

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and we can say, no, you know,

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the people demand this thing

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and they will not vote for you

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unless you give them this thing in the same way

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that Nigel Farage did. So,

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you know,

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this is not a message

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that rich people want you to hear.

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So, you know,

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we will always get kickback from

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billionaire funded think tanks, billionaire owned

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newspapers, billionaire owned radio stations.

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And that will always be what we fight against.

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But what we have, what they don't is that

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this is correct and the predictions will be right.

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And I'll keep making right predictions

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even if they're horrible predictions.

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And, you know, that's the way I see it.

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And, you know,

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I focus on that because that's what I can do.

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But I think people watching

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who are demanding solutions,

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I think they have a choice to make, you know, which is,

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number one, do you support

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people like me who would do what we're doing?

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And number two, do you create your own things?

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You know, do you spread the message in your own space?

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You know,

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whether that means, you know,

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creating your own forms of communication

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or whether that means spreading amongst your community.

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And

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the last thing I want to

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add on this topic of solutions

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is that I think if you've accepted

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that it's a long term battle,

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then I think the other thing

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which is really important is like the...

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as much as possible,

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how do we maintain our mental health

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and our mental health as communities basically?

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Because we're going to head into some really,

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really, really difficult times

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and there's going to be a lot of

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like super divisive narratives going around about

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and increasingly

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young people are going to be forced

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to live lives of poverty.

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And that is going to be hard.

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And I see the damage

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it does to the mental health of young people who

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are being driven into poverty,

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really through no fault of their own,

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through a collapsing economy.

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And what I want young people to understand is that

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the economy is changing in such a way

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that poverty is being forced on more and more people.

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So I know this is not...

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this is easier said than done,

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but I think that we

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all have to be gentle with ourselves and one another.

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And the way that we judge one

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another's financial positions,

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because we've been kind of trained with this idea

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that if you're rich

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it’s because you're great

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and if you're poor, it's

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because you're f*cking dumb or something, you know,

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and when you give people that message

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in a world that gives people no chance

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but to be poor, it's

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unbelievably damaging to people’s self-esteem.

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And, you know, we're not going to win this fight

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with a bunch of people

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who have been trained to believe that

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they're useless and that their failures,

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they're pathetic, you know?

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So we need to realise

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there's a systemic problem

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that is that is f*cking our young people.

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And that means that they will be poor

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and it's not their fault.

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So, you know,

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if you're out there and you’re struggle

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and you're seeing other people

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who are doing better than you,

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the truth is probably because of the family

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they're from, the family assets that they hold.

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Don't beat yourself up on this.

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But at the same time, people

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need to understand that it's going to be hard

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and you're going to have to work hard

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in many cases to support yourself,

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to support your family.

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But just like

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I spoke before about

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we only win this if we win the technical battle

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and the ideological battle,

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individual people will only be able

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to secure their futures

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if they win their personal battles

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as well as the political battle.

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Because

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it doesn't matter how

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well I do out here with the politicians, you know,

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you need to feed your kids.

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So if that means you work hard

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and you don’t have time to support

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anything we do politically, then that’s you.

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I would never judge anyone in that position.

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But if you work hard

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and do everything you can

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to support your kids

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but the economy collapses, which it will,

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then you know it's going to hit your family as well,

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you know.

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You know,

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sometimes your boat can sink in two ways

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and you need to plug a few holes and

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I think that...

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We will win as a country and as a society

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if enough of us are able to

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fight both our personal battles

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and our collective political battle at the same time.

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And I'm well aware that that's much easier for me

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who does not have the financial difficulties

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that people, other people have.

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And for that reason, I will try my best

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to take more than my share of the load.

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But it will be about whether enough of us can, can

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come in and support it.

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And, you know, hopefully we'll see this thing grow

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and then I'll start to get,

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I'll start to get some the politicians

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and we can start having more discussions

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about the technicalities

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of what kind of taxes you bring in.

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But now is not the time for that

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because we're losing the ideological battle.

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And, you know, and,

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you know, bad things can happen if we don't win that.

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So I'm going to focus on that.

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I would like to thank everybody for their support.

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You know, I'm sorry to be always coming in

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with negative messages,

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but I think it's better to know

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the truth of what's coming than...

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than to be living in a bubble of false hope.

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You know, this is what we need to do.

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It's going to be hard.

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But, you know, tough times create strong people.

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And, you know, if we get enough strong people,

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then I think we can win.

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So, yeah, thanks, everyone, for

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thank you, everybody for your support

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and keep supporting the channel. Thank you.