Okay welcome back to Gary's Economics

thank you for waiting today

we're gonna get you up to speed

with everything you missed

and talk about

how we are gonna fix this economic collapse

in the rest of 2025 welcome back

okay so first thing to cover is

I think to pat ourselves on the back a little bit

I've been away three months and

I was a little bit worried about taking time off

when things are blowing up

but I needn't have been because

things have gone absolutely mental

with wealth taxes and with inequality

since I've been away. Normally when I'm working

I sit here at my kitchen table and I've got a TV there

and I run BBC News or Sky News

and then I have it on mute

and every single time they talk about the economy

there's a little thing at the bottom saying

wealth taxes, are we gonna get wealth taxes?

Every single time

a politician is asked to talk about the economy,

the political situation, they are asked

are you gonna do wealth taxes?

Why are you not doing wealth taxes?

Why are you not taxing the rich more?

While I was away

we had the Guardian come up with an editorial piece

saying we need to have wealth taxes.

Just this weekend we had Lord Kinnock

former leader of the Labour Party

asking why we're not doing wealth taxes,

and yesterday we had a, well

I'm shooting this on Wednesday,

yesterday we had a Yougov poll coming out

saying that 75% of the country

including 62% of conservative voters

support wealth taxes.

I don't wanna get too egotistical about it but

this is because of us.

This is because of us, this is because of me

this is because of you amplifying our message,

it's not just us

we have to give like a big shout out to,

other people push this Tax Justice UK especially

the Patriotic Millionaires of Becca

Gowland at PMUK does great work

Aaron Advani people like that

but this is us.

We've driven this into the narrative,

we are a massive massive part of the conversation now,

politicians have to talk about it all the time.

So just a a little moment to say well done.

This channel,

the idea, the political idea of this channel

was always that we amplify through ordinary people

we we talk to ordinary people

in a way that is understandable for ordinary people

and you guys amplify the message

you know we never done any advertising

and it's you that grows us

so first things first, like well done

like we've massively

we've changed the game on this

you know, we are the new Rupert Murdoch,

we are we are dominating the debate

and we've done it through

videos of me sitting here in my kitchen.

But it's more because of you guys who watch it so

thank you very much

let's keep doing it. We're back now

hopefully for the rest of the year

so let's keep pushing this through.

So let's catch up a little bit with the broad economic

political situation

the reason that wealth taxes have become like

relevant is because the economy is shit,

and the economy is shit in exactly the way

which I said it would be shit

before the new government came in

and to be honest

this is relevant even if you're in the US

or or in other countries.

I would like to add the last three months

I've been like traveling the world

and I've been doing events

talking about politics and about economics

and the same things are happening everywhere

so what I'm about to say is,

it's not just relevant to the UK or the US

basically everywhere you have the same situation

which is there's kind of like two flavors of

of government that you have at the moment

which is either this kind of like boring centrist,

let's just be more efficient

let's just be more practical and sensible

and somehow that will fix things

and you have this like

kind of increasingly mentalist far right

which is just like going crazy

doing a lot of crazy shit

but aggressively blaming immigrants and foreigners

and you know

these two kind of

flavours of modern government are like

really typified by, at the moment

the Keir Starmer Labour government here in the UK

and the Donald Trump

Republican government over in the US.

And I came up before those guys came in and I said,

or it might have been just after,

basically said what you have here

is something really interesting

because you've got these two

kind of opposite flavours of government

which is your like very sort of sensible

practical traditional, centrist

Keir Starmer government and this kind of like wild

far right, alt right

whatever you want to call them

Donald Trump government

that are kind of set up as opposites

but they will both fail on the economy

because both of them are failing to recognise the key

fundamental economic problem that you have

which is that wealth inequality is growing very very

very very quickly

that the rich

and the super rich are growing their wealth

very aggressively

that is squeezing out and bankrupting governments

and that is squeezing out

and bankrupting the middle class

and because wealth taxes

and tax on the super rich are not really on the table

you end up with the situation

you have, governments who have collapsed their wealth,

given away all of their wealth,

are hugely in debt

turning to a middle class

who is also quite aggressively losing its wealth

and saying well

you need to pay more and absolutely refusing to

look at this group of people who

are just absolutely squeezing everybody else out

and it's gonna fail basically

you know this is like if you have

you know you've got a patient on the operating table

and they're hemorrhaging blood

the government is hemorrhaging wealth

the middle class is hemorrhaging wealth

and you you try to fix it

without stopping that hemorrhaging of wealth

you know the boat

the boat has a hole in the bottom

and you're not gonna fix it by rowing faster

and you're not gonna fix it by blaming immigrants

until we stop the middle class

the working class and the governments

from having all of their wealth

squeezed out of them by the very rich

we will continue to see economic worsening

and this is why I was able to predict that Rishi Sunak

would fail economically

that Keir Starmer would fail economically

that Donald Trump would fail economically,

despite these three guys, Sunak and Starmer and Trump

being very different politicians

and it's really just for a very simple reason

which is the core of the economic crisis

is growing wealth inequality

and none of these politicians

none of these political ideologies

are willing to even really talk about inequality

and in fact in many cases

especially the case of Donald Trump

and the more far right parties

they're actively cutting taxes on billionaires.

So you know

what you have here is an economy with cancer

and a bunch of politicians who don't believe in cancer.

So it doesn't matter if it's Starmer on the tin

or Trump on the tin,

they're gonna fail

they're gonna fail unless they deal with

economic inequality

which is a big problem

because they're not addressing it.

But it creates this massive

massive political opportunity

which is that what you will see

what we are seeing, what we will continue to see

is continued economic failures

of different governments

because they refuse to deal with the actual problem.

In many cases

I think they don't,

they don't recognise the importance of inequality

as the actual problem

and if you wanna understand specifically

why it is that governments

and politicians

and economists don't realize why economics is

why inequality is the problem

we do have a video on the channel called

Understanding Why Economists Ignore Inequality.

We'll put that in the in the description at the bottom

but basically these guys will fail again and again

and it puts us in a great position

because we can correctly predict that.

So I came in before Starmer came in

saying that he would win and he would

fail really badly on the economy

and he would be very unpopular.

I said the same thing about Sunak

I said the same thing about Trump

and it also creates this

massive demand for something new

because people don't want to live in poverty

people don't want their kids to live in poverty

but it's increasingly clear to ordinary people

that is what is happening

that they're being impoverished

and it creates this massive demand

for new economic ideas which I think we

here on this YouTube channel are filling, really

and I think that's one of the reasons why this channel

has become so so big and

and so popular

and when I was traveling around the world

I realised that it's

it's like popular all over the world really

which is kind of crazy

but that's because these

these problems are happening everywhere

so there's massive opportunity,

I'm back now we're gonna make videos

we're gonna try to drive into that space

I think there's such a massive gap

to explain to people what's happening

in the economy and that gap is only gonna grow

as the economy gets worse and worse

but that opportunity which is there for us

to explain why economic worsening is happening

is not just being exploited by us here on this channel

it's also being exploited by the far right and

I think it's interesting to consider

what will happen politically

and how these two different political ideologies

will respond to

continuing aggressive economic worsening

worsening of living standards

so when you consider these kind of like

centrist governments

and I think that includes

not just governments like Starmer and Labour

and Biden and the Democrats

but also for example

the Rishi Sunak Conservative government was

more or less a kind of boring centrist government

economically, when they fail on the economy

they are really quite fucked to be honest

because when your position is this kind of like

radical centrism and your offer is just

we're gonna be really sensible,

when you try to be really sensible

and the economy fails

you basically don't have anywhere to move.

These guys

continually find themselves in the same situation

which is they make promises,

they enter government, they realise

that the government's given all of its wealth away

they turn to the middle class

who have also not had their wealth protected

and then they just basically say

we're fucked

we're gonna just basically shut the welfare state down

and then that makes them very unpopular

these centrists have have not really got anywhere to go

and that is a problem because the new right

the far right whatever you wanna call them

they do have somewhere to go

which is it's really

really obvious what these guys are gonna do

when they fail on the economy

and Donald Trump will fail on the economy

if he's judged by broad living standards

because he's not dealing with the growing inequality

they they have people to blame right

they say we were stopped by the centrists

we were stopped by the academics

the Supreme Court, the media

these negative elements within our society

they didn't allow us to be aggressive enough on

immigration and foreigners

and then you,

you shift further to the right

and you have that space to move into

and you really see that here in this country

We had the Cameron/Osborne government

who were not aggressively far right

especially on social issues

they failed on on the economy

and they were replaced by Boris Johnson

who was further to the right

on these social issues and then he again

failed on the economy and he was replaced,

well it looks like he will be replaced by Nigel Farage

who is further to

the right on these social issues

and basically this will keep happening

you will see this flip flop

which is the centre fails on the economy

because they failed to deal with inequality

they're replaced by someone on the right

they fail because

they fail to deal with growing inequality

in the economy

and they're replaced either by someone in the centre

or somebody further right

because you you need

when you can see that the status quo is failing

you always need to be able to sell yourself politically

as something new and I think unless really

the centre or something on the left is able to come up

and actually deal with this rapidly growing inequality

which is crushing the middle class

and crushing governments

it is inevitable that we will see a progression

of further and further right governments

and I'm not saying that Farage or Trump are fascists

uh if you wanna say that

that's up to you

if we don't fix the economic problem

we will inevitably get further

and further and further to the right

governments that are more and more extreme

because

it's the only way that politicians can sell themselves

as new and sell themselves as believably

being able to fix the economic problem.

So at this point

I would like to send a message out to the Labour Party

look look

I don't hate you

I don't know what you guys feel about me

I don't want this country to go to shit

and I don't want this country to descend into like

extreme fascism

and I'm not saying that's what Farage is

but I know that that's where we will go

if we don't fix this economic problem

you guys won election one year ago

you've got four years until the next election

listen I don't know what you think about me

I've got a very long track record of good predicting

I get paid millions of pounds by banks

to tell them this stuff

I'm telling this to you for free

if you do not deal with this

rapidly growing inequality of wealth

the economy will collapse

and you guys will get absolutely smashed

at the next election but more importantly than that

this country will collapse into desperate

desperate poverty I don't want that to happen

and I'm hoping that you don't want that to happen

this week I've sent a few emails out to guys in Labour

I've tried to set up a few meetings

so we can go and speak to them

to see if they're interested in fixing this problem

I've got to be honest

I'm not super confident that the guys I've spoken to

are gonna be able or willing

to seriously think about fixing this problem.

iI there's anyone out there,

one MP in the Labour Party

who doesn't want the country to go to shit

then fucking send me an email alright

because at the end of the day

I'm a Youtuber

this channel is probably gonna get bigger and bigger

and bigger

coming up to the next election

I'm gonna try and make it so you fucking need us

but more importantly

I don't want the country to collapse

if there's one single MP out there in Labour

that doesn't want the country to collapse

get in touch because the truth of the matter is

if Labour doesn't deal with this

which it looks like they won't

the economy will get worse and worse

and worse and worse Labour will get more and more

and more and more unpopular

Starmer will get more and more unpopular

Reeves will get more and more unpopular

they will end up in a position

where they will probably be forced to do a massive

rebrand and probably change leadership

before the next election

and I want that

new leader, and it doesn't have to be a new leader

by the way, listen, Starmer

if you're out there

I'll be happy to work with you, you know

it's my country too you know

I don't want it to go to shit and and I hope you don't.

Whoever is in charge of the Labour Party

going to the next election

if we do not have an offer on the table

that is serious about reducing inequality

then it will be Farage

it will be Reform and I worry about what that means so

as this channel grows and grows

we become more and more politically powerful.

After this video

we'll be doing a lot more economics explainers

we're gonna do one on housing,

why housing is expensive next week

but we do have to sort of recognize what we are

I don't do this channel

just because I like talking about the economy

I do it cos I don't want the economy to collapse

and for whatever you or I might think

because of the political system

we have in this country I don't see any realistic way

of fixing the economy without going through Labour

and it doesn't mean I won't talk to the greens

or anyone else who,

or the Liberal Democrats

or even conservatives or Reform

but I think our best chance

is to try to get Labour to not be so aggressively shit

so I'm here if you want to talk to me.

OK so on that message

on a message to Labour

I wanna send out a few more messages to people

just here at the beginning of what I'm gonna call the

the summer autumn season

summer autumn 2025 season of Gary's Economics

the first thing to say is

you know I...

when I started this channel doing videos in my mate

Simran's garden

I never thought that it would really come to anything

and I didn't think we really had much chance of winning

but I thought it was important to do

and Simran always thought we had a good chance

I think we might win this

The speed of the growth is absolutely incredible

and you know

we've already had our big press campaigns with the book

last year and this year and

you know

maybe it's gonna struggle without those press campaigns

we've got some cool stuff,

some TV stuff like lined up for like this year,

or it might come out early next year

which I'm hoping will bring more

bring more attention

but I think we've got a massive chance.

I think it should be obvious

that social media is becoming

and is going to become more and more powerful in

in the realm of mainstream politics

and the traditional political parties

and also

a lot of the traditional media have been super

super slow to move on that

I heard that the other day

that Nigel Farage has more TikTok

followers than all of the rest of the other 649 MPs

put together.

Politics and media has been slow to adapt to the demand

for politics and economics on social media

and we're here, we're here

we must be one of the biggest politics

economics social media platforms in Europe

we're growing super quickly

we already dominate the debate

I think we can win, I think we can win

I think we've got a chance

so stick it out, stick in

keep following. I'm hoping to keep making videos

as good this season as they were last season

but I wanted to send a message to

all my international viewers

because in the last three months

I've been all over the world

I was in Japan

Korea

Italy, Portugal

Sweden and Norway

and I did events in almost all of those countries.

Everybody's got the same problems

I know we're mainly watched in the UK and the US

but the truth is we are getting closer and closer

to actually getting some kind of implementation

of a fairer tax system here in the UK

not just because of this channel

but because of the work of what we do here

and other great campaigners here in the UK

we are not the center of the world anymore

this is gonna be very very difficult to fix just here

just in the UK. It's gonna be much

much easier

if we have other countries willing to help us

protect ourselves from billionaires all over the world

so you know I'd like to reach out to

all of the people who watch in other countries

thank you very much for your support

please try and build up this message

in the countries that you're in

it's a very simple message,

the reason for falling living standards is growing

wealth inequality

government and the middle class are being squeezed out

that inequality is continuing to grow rapidly

if you don't do anything about it

then living standards

and the economy will continue to collapse.

You need to understand that in your country

as well as in my country,

if we build this message up

we can stop it. The last time

we significantly reduced inequality

in the western world it wasn't done just here in the UK

it was done across Europe

including the US and including places like Japan.

We did it together

and I think we can do it together again.

If you're interested in seeing some of my interviews

across the world

I think there's one of my interviews in Portugal

one of my interviews in Italy

and one of my interviews in Japan

including a section of me speaking Japanese are all up

I'll put them

I'll put them up in the comments.

I wanted to send a message out to

people that are voting

or considering voting for the far right parties

Reform, Donald Trump

whatever, Chega in Portugal

they're all over the place.

You know who they are, you've got one in your country

look you know

I know I get branded as a

as a communist and shit like that

I don't hate you

if you're trying to vote for these people

if you're considering voting for these people

like I know the message is going out there

that the reason you’re poor is immigrants

the reason you’re poor is foreigners

I know that message goes out again and again

and again and again

and I know that ordinary people are struggling

and they're worried about the future and

and their financial position

and the financial positions of their kids

and their grandkids, and I'm worried as well

I don't come from a rich background

I know what life is like for ordinary people

and I know it's a lot of ordinary

poor people that are voting for these guys

I don't hate you, I do this for you

I don't need to do this you know

I'm financially secure, and if you want low immigration

you have every right to ask for that

but before you consider voting for far right parties

I want you to always ask yourself two questions.

Who funds these guys?

And what are they gonna do to billionaire taxes?

because in almost every case

you will find that

these guys are funded by billionaires

and are trying to cut billionaire taxes

these billionaires are the guys who are gonna own

the houses that your kids need

they are the guys that are taking

the wealth that your government used to have

they are the guys that are bankrupting your countries

and your welfare state. Listen

I'm not here to talk about immigration

I'm not an immigration economist

I'm an inequality economist

and you can have whatever level of immigration

that you like seriously

but please

don't vote for billionaires who are gonna bankrupt you.

OK I wanted to send out two more short messages

I wanted to send one to the working class

that don't trust the middle class. Listen

I come from a working class background and you know

now I like move in some fancy circles sometimes

when I have to and

sometimes I don't trust them either

I know they can be kind of dickheads

and they can sometimes be quite annoying.

You're not gonna get out of this without their support

There's gonna be a lot of the media

trying to make you hate people

a bit richer than you, a bit posher than you

and I know that

you are the guys who are on the front line

and you are the guys who are getting hurt.

If the working class

and the middle class can't stand together

then the rich and the super rich will win

so stay cool yeah

don't worry I see you.

And to the middle class

that don't trust the working class, listen

you know

I know you guys might not be in the sharp end of it now

but once the rich have taken

all the wealth of the government

and all the wealth of the poor

whose wealth do you think they're gonna take next

you know

don't be stupid

don't be stupid.

OK finally,

just for I end

I wanted to send a message to the rich and

and the super rich because

you know

as this channel has grown and as my message has grown

and as this wealth tax stuff has grown

there has been inevitably a lot of pushback

and I know that a lot of that pushback

comes from rich and super rich people

or is ultimately funded by rich and super rich people

and I know why you do that

because you don't wanna pay higher taxes

I understand, I don't wanna pay higher taxes either

I don't like it

if you are rich or if you are super rich

you have a nice life right

you know I've seen how you guys live

and I know you know how you live right

it's nice you know

you guys get a lot of luxury, and it's cool

by pushing this further and further and further

and taking more and more and more

you are aggressively destabilising the economies

and political systems of the countries

which you live in and which give you extreme luxury,

what the fuck are you doing?

It's enough, it's enough

and you know

we have these stories in history

I don't know how true they are

that you know

when the British elites got so rich

they eventually decided to do things

like more philanthropy and

you know

help set up the welfare state and help protect the poor

and for that reason you know

they were able to protect

the political stability of the countries they lived in

whereas the French elites

they didn't give anything back

they did all their let them eat cake shit

and they get their heads chopped off

look I ain't trying to cut nobody's heads off

You've got enough, if you keep pushing

you will destabilise the countries

that give you these enormous amounts of wealth,

look at what happened in history

look at what happened in the 20th century

I'm not trying to redistribute wealth

away from the rich

I'm trying to stop the redistribution

that is bankrupting ordinary people.

Listen I'm out here with my white flag up

I would accept a peace treaty

let's stop it now. If you keep pushing under this system

where you don't pay tax and the poor pay tax

and you increasingly take everything

and bankrupt everybody else

you will destroy the political stability

of this country

so stop finding dickheads to argue me on the news.

OK that's it

that's the end of this week's video

not a lot of economics in this week's video

but um we're gonna

come back

with the same kind of stuff that we've always done

Next week

I wanna do a video on why housing is so expensive

which I think is one we haven't covered for ages

it's really really important

my plan this year is to run through

till the end of the year

I've got like some TV shit I'm working on as well

it's keeping me busy

but if my mental health holds up

and I don't get assassinated by the Financial Times

We will be back

running these videos till the end of the year

Shit’s gonna be hard, stay cool

be there for each other

what I would like you to do is just

stick to the message one simple clear economic message

the reason for growing poverty

the reason for falling living standards

is growing wealth inequality

that is worsening rapidly

if we don't deal with it things get worse

we can deal with it, it's possible, tax the rich more

Tax wealth not work

Welcome back hope you're enjoying summer, thank you