but<00:00:00.599> I<00:00:00.780> mean<00:00:00.900> if<00:00:01.140> we<00:00:01.260> do<00:00:01.439> continue<00:00:01.680> down<00:00:02.100> this

but I mean if we do continue down this

but I mean if we do continue down this path<00:00:02.600> and<00:00:03.600> just<00:00:03.899> make

path and just make

path and just make so<00:00:05.880> many<00:00:05.940> things<00:00:06.180> unaffordable<00:00:06.960> for<00:00:07.200> people

so many things unaffordable for people

so many things unaffordable for people basically<00:00:08.040> make<00:00:08.400> families<00:00:09.300> unaffordable

basically make families unaffordable

basically make families unaffordable yeah<00:00:10.679> what<00:00:11.280> does<00:00:11.460> that<00:00:11.639> look<00:00:11.820> like

yeah what does that look like

yeah what does that look like I<00:00:13.259> mean<00:00:13.440> yeah<00:00:13.860> birth<00:00:14.099> rates<00:00:14.400> will<00:00:14.580> fall<00:00:14.759> I

I mean yeah birth rates will fall I

I mean yeah birth rates will fall I think<00:00:15.540> there's<00:00:16.080> this<00:00:16.260> interesting<00:00:16.619> situation

think there's this interesting situation

think there's this interesting situation where<00:00:17.160> the<00:00:17.340> conservative<00:00:17.760> party<00:00:18.000> needs<00:00:18.720> to

where the conservative party needs to

where the conservative party needs to keep<00:00:19.740> people<00:00:20.340> owning<00:00:20.820> homes

keep people owning homes

keep people owning homes but<00:00:22.320> also<00:00:22.859> we<00:00:23.039> have<00:00:23.220> this<00:00:23.460> massive<00:00:23.820> continual

but also we have this massive continual

but also we have this massive continual flow<00:00:24.779> of<00:00:24.900> wealth<00:00:25.140> from<00:00:25.380> ordinary<00:00:25.859> families<00:00:26.160> of

flow of wealth from ordinary families of

flow of wealth from ordinary families of the<00:00:26.460> rich

the rich

the rich residential<00:00:28.800> homes<00:00:29.039> are<00:00:29.340> the<00:00:29.580> biggest<00:00:29.760> chunk

residential homes are the biggest chunk

residential homes are the biggest chunk of<00:00:30.539> wealth<00:00:30.960> in<00:00:31.260> this<00:00:31.320> country<00:00:31.500> so<00:00:32.399> how<00:00:32.700> do<00:00:32.820> you

of wealth in this country so how do you

of wealth in this country so how do you keep<00:00:33.059> Ordinary<00:00:33.540> People<00:00:33.660> owning<00:00:34.079> homes<00:00:34.260> when

keep Ordinary People owning homes when

keep Ordinary People owning homes when you're<00:00:34.739> simultaneously<00:00:35.399> sucking<00:00:35.760> their

you're simultaneously sucking their

you're simultaneously sucking their wealth<00:00:36.120> away<00:00:36.719> the<00:00:37.140> only<00:00:37.320> way<00:00:37.500> to<00:00:37.620> do<00:00:37.800> that<00:00:37.980> is

wealth away the only way to do that is

wealth away the only way to do that is to<00:00:38.700> really<00:00:38.880> increase<00:00:39.180> the<00:00:39.719> size<00:00:39.840> of<00:00:40.079> their

to really increase the size of their

to really increase the size of their debt<00:00:40.980> so<00:00:41.399> I<00:00:41.460> think<00:00:41.640> what<00:00:41.820> you<00:00:42.000> will<00:00:42.180> see<00:00:42.480> is

debt so I think what you will see is

debt so I think what you will see is massive<00:00:43.800> increases<00:00:44.219> in<00:00:44.399> the<00:00:44.700> ordinary<00:00:45.059> debt

massive increases in the ordinary debt

massive increases in the ordinary debt but<00:00:45.660> I<00:00:45.840> don't<00:00:45.899> ordinary<00:00:46.320> families<00:00:46.739> so<00:00:47.280> you'll

but I don't ordinary families so you'll

but I don't ordinary families so you'll start<00:00:47.640> seeing<00:00:47.820> mortgages<00:00:48.180> get<00:00:48.420> much<00:00:48.539> much

start seeing mortgages get much much

start seeing mortgages get much much bigger<00:00:49.079> so<00:00:49.800> you'll<00:00:49.980> start<00:00:50.160> seeing<00:00:50.460> that<00:00:50.640> that

bigger so you'll start seeing that that

bigger so you'll start seeing that that younger<00:00:51.239> people<00:00:51.420> will<00:00:52.140> be<00:00:52.559> able<00:00:52.739> to<00:00:52.920> buy

younger people will be able to buy

younger people will be able to buy properties<00:00:53.579> but<00:00:54.239> by<00:00:54.480> taking<00:00:54.719> massive

properties but by taking massive

properties but by taking massive mortgages<00:00:55.800> and<00:00:56.340> the<00:00:56.460> government<00:00:56.579> will<00:00:56.820> have

mortgages and the government will have

mortgages and the government will have to<00:00:57.120> try<00:00:57.300> and<00:00:57.480> you<00:00:57.780> know<00:00:57.899> Boris<00:00:58.680> Johnson<00:00:58.800> spoke

to try and you know Boris Johnson spoke

to try and you know Boris Johnson spoke about<00:00:59.219> multi-generational<00:00:59.940> mortgages<00:01:00.420> and<00:01:00.719> I

about multi-generational mortgages and I

about multi-generational mortgages and I think<00:01:00.899> they'll<00:01:01.140> probably<00:01:01.320> eventually<00:01:01.680> become

think they'll probably eventually become

think they'll probably eventually become a<00:01:02.100> thing<00:01:02.280> that<00:01:02.699> you<00:01:02.820> will<00:01:02.940> have<00:01:03.059> a<00:01:03.180> mortgage

a thing that you will have a mortgage

a thing that you will have a mortgage that<00:01:03.780> you<00:01:04.320> know<00:01:04.440> you<00:01:04.799> basically<00:01:05.159> guarantee

that you know you basically guarantee

that you know you basically guarantee that<00:01:06.180> your<00:01:06.299> kids<00:01:06.479> will<00:01:06.600> pay<00:01:06.780> off<00:01:06.960> for<00:01:07.140> you

that your kids will pay off for you

that your kids will pay off for you um<00:01:08.340> so<00:01:08.939> I<00:01:09.000> think<00:01:09.119> we'll<00:01:09.299> see<00:01:09.479> you'll<00:01:09.900> see<00:01:10.080> that

um so I think we'll see you'll see that

um so I think we'll see you'll see that you'll<00:01:10.560> see<00:01:10.820> massive<00:01:11.820> increases<00:01:12.240> in<00:01:12.420> debt

you'll see massive increases in debt

you'll see massive increases in debt decrease<00:01:13.140> in<00:01:13.439> living<00:01:13.619> standards<00:01:14.220> you'll<00:01:14.520> see

decrease in living standards you'll see

decrease in living standards you'll see sort<00:01:14.880> of<00:01:14.939> the<00:01:15.060> sort<00:01:15.240> of<00:01:15.299> slummization<00:01:16.020> of

sort of the sort of slummization of

sort of the sort of slummization of London<00:01:17.340> you'll<00:01:17.939> see<00:01:18.060> this<00:01:18.240> increasing<00:01:18.659> divide

London you'll see this increasing divide

London you'll see this increasing divide um

um

um yeah<00:01:21.420> it's<00:01:21.600> just<00:01:21.780> going<00:01:21.900> to<00:01:21.960> be<00:01:22.080> really

yeah it's just going to be really

yeah it's just going to be really unpleasant<00:01:22.680> basically<00:01:23.040> and<00:01:23.400> yeah<00:01:23.640> definitely

unpleasant basically and yeah definitely

unpleasant basically and yeah definitely a<00:01:24.240> lot<00:01:24.360> of<00:01:24.420> younger<00:01:24.720> people<00:01:24.780> will<00:01:25.020> start

a lot of younger people will start

a lot of younger people will start having<00:01:25.380> fewer<00:01:25.860> families

having fewer families

having fewer families um

um

um I<00:01:28.680> imagine<00:01:28.979> political<00:01:29.580> parties<00:01:29.880> and<00:01:30.060> people

I imagine political parties and people

I imagine political parties and people like<00:01:30.299> Rupert<00:01:30.659> Murdock<00:01:30.960> and<00:01:31.140> then<00:01:31.259> what<00:01:31.439> Rupert

like Rupert Murdock and then what Rupert

like Rupert Murdock and then what Rupert Murdoch<00:01:32.100> will<00:01:32.220> be<00:01:32.280> dead<00:01:32.340> by<00:01:32.520> then<00:01:32.640> probably

Murdoch will be dead by then probably

Murdoch will be dead by then probably but<00:01:33.060> the<00:01:33.240> Murdoch<00:01:33.659> Empire<00:01:33.840> will<00:01:34.619> start<00:01:34.920> use

but the Murdoch Empire will start use

but the Murdoch Empire will start use that<00:01:35.400> to<00:01:35.579> stir<00:01:35.820> the<00:01:36.000> pot<00:01:36.240> on

that to stir the pot on

that to stir the pot on racial<00:01:38.159> Division<00:01:38.520> and<00:01:39.299> fighting<00:01:40.079> on

racial Division and fighting on

racial Division and fighting on immigration<00:01:40.560> because<00:01:40.860> they'll<00:01:41.220> they'll<00:01:41.579> say

immigration because they'll they'll say

immigration because they'll they'll say oh<00:01:41.820> we<00:01:42.000> need<00:01:42.119> more<00:01:42.299> workers<00:01:42.600> because<00:01:42.780> you're

oh we need more workers because you're

oh we need more workers because you're not<00:01:43.079> having<00:01:43.200> kids<00:01:43.380> so<00:01:43.500> we're<00:01:43.680> going<00:01:43.740> to<00:01:43.799> bring

not having kids so we're going to bring

not having kids so we're going to bring more<00:01:43.979> immigrants<00:01:44.400> and<00:01:44.579> then<00:01:44.700> they're<00:01:44.820> going

more immigrants and then they're going

more immigrants and then they're going to<00:01:45.119> sort<00:01:45.240> of<00:01:45.299> use<00:01:45.420> that<00:01:45.600> to<00:01:45.780> like<00:01:45.960> Drive

to sort of use that to like Drive

to sort of use that to like Drive immigrants<00:01:47.100> against<00:01:47.340> people<00:01:47.700> who<00:01:48.180> were<00:01:48.479> born

immigrants against people who were born

immigrants against people who were born here<00:01:49.020> I<00:01:49.740> mean<00:01:49.860> you're<00:01:50.100> seeing<00:01:50.399> that<00:01:50.579> happen

here I mean you're seeing that happen

here I mean you're seeing that happen um<00:01:52.020> I<00:01:52.259> think

um I think

um I think we're<00:01:53.939> reaching<00:01:54.299> that<00:01:54.420> point<00:01:54.600> now<00:01:54.840> where<00:01:55.560> in

we're reaching that point now where in

we're reaching that point now where in order<00:01:56.220> to<00:01:56.340> keep<00:01:56.579> the<00:01:56.700> rich<00:01:56.820> getting<00:01:57.060> richer

order to keep the rich getting richer

order to keep the rich getting richer you<00:01:57.720> need<00:01:57.780> to<00:01:57.899> start<00:01:57.960> really<00:01:58.140> hitting<00:01:58.320> the

you need to start really hitting the

you need to start really hitting the middle<00:01:58.680> and<00:01:59.460> that's<00:01:59.579> difficult<00:01:59.939> to<00:02:00.119> justify

middle and that's difficult to justify

middle and that's difficult to justify and<00:02:00.899> I<00:02:01.020> think<00:02:01.140> the<00:02:01.439> easiest<00:02:01.680> way<00:02:01.799> to<00:02:01.979> justify

and I think the easiest way to justify

and I think the easiest way to justify that<00:02:02.700> historically<00:02:03.479> if<00:02:03.600> you<00:02:03.720> look

that historically if you look

that historically if you look historically<00:02:04.320> is<00:02:04.979> to<00:02:05.219> get<00:02:05.340> people<00:02:05.520> to<00:02:05.759> blame

historically is to get people to blame

historically is to get people to blame immigrants<00:02:06.420> and<00:02:06.719> to<00:02:06.840> blame<00:02:07.140> foreigners<00:02:07.619> and

immigrants and to blame foreigners and

immigrants and to blame foreigners and to<00:02:08.160> really<00:02:08.399> drive<00:02:08.759> up<00:02:09.060> that<00:02:09.360> sort<00:02:09.479> of<00:02:09.539> thing

to really drive up that sort of thing

to really drive up that sort of thing historically<00:02:10.440> you<00:02:10.800> know<00:02:10.920> these<00:02:11.580> sort<00:02:11.700> of

historically you know these sort of

historically you know these sort of situations<00:02:12.120> they<00:02:12.540> tend<00:02:12.780> to<00:02:12.900> go<00:02:13.140> far<00:02:13.739> left<00:02:14.040> or

situations they tend to go far left or

situations they tend to go far left or far<00:02:14.400> right<00:02:14.580> you<00:02:14.879> know<00:02:15.000> what<00:02:15.060> I<00:02:15.180> mean<00:02:15.360> and<00:02:16.260> um

far right you know what I mean and um

far right you know what I mean and um the<00:02:17.459> far<00:02:17.640> left<00:02:17.819> doesn't<00:02:18.180> seem<00:02:18.780> to<00:02:18.840> be<00:02:18.959> winning

the far left doesn't seem to be winning

the far left doesn't seem to be winning much<00:02:19.379> ground<00:02:19.620> but<00:02:20.040> you<00:02:20.160> look<00:02:20.340> at<00:02:20.459> the<00:02:20.580> far

much ground but you look at the far

much ground but you look at the far right<00:02:20.940> you<00:02:21.480> know

right you know

right you know xenophobia<00:02:23.459> racism<00:02:24.000> you<00:02:24.420> know<00:02:24.900> to<00:02:25.500> me<00:02:25.620> they

xenophobia racism you know to me they

xenophobia racism you know to me they all<00:02:25.980> look<00:02:26.099> to<00:02:26.220> be<00:02:26.400> on<00:02:26.520> the<00:02:26.640> rise<00:02:26.819> you<00:02:27.120> know<00:02:27.180> and

all look to be on the rise you know and

all look to be on the rise you know and that's<00:02:27.959> um<00:02:28.040> that<00:02:29.040> is

that's um that is

that's um that is you<00:02:30.900> can<00:02:30.959> justify<00:02:31.379> falling<00:02:31.800> living<00:02:31.980> standards

you can justify falling living standards

you can justify falling living standards if<00:02:32.520> you<00:02:32.640> say<00:02:32.760> oh<00:02:32.879> we're<00:02:33.120> doing<00:02:33.300> it<00:02:33.420> to<00:02:33.540> defend

if you say oh we're doing it to defend

if you say oh we're doing it to defend you<00:02:34.020> from<00:02:34.200> these<00:02:34.500> foreigners<00:02:34.980> you<00:02:35.160> know<00:02:35.220> I

you from these foreigners you know I

you from these foreigners you know I mean<00:02:35.520> so<00:02:36.180> I<00:02:36.360> worry<00:02:36.660> that<00:02:36.900> things<00:02:37.020> will

mean so I worry that things will

mean so I worry that things will probably<00:02:37.440> go<00:02:37.860> go<00:02:38.700> that<00:02:38.940> way<00:02:39.120> with<00:02:39.420> increase

probably go go that way with increase

probably go go that way with increase with<00:02:41.400> increased<00:02:41.879> division<00:02:42.360> increase<00:02:43.019> and<00:02:43.379> the

with increased division increase and the

with increased division increase and the media<00:02:43.980> becoming<00:02:44.400> more<00:02:44.580> aggressive<00:02:45.180> and<00:02:45.420> sort

media becoming more aggressive and sort

media becoming more aggressive and sort of<00:02:45.780> trying<00:02:45.900> to<00:02:46.080> build<00:02:46.260> divisions<00:02:46.739> within

of trying to build divisions within

of trying to build divisions within Society

Society

Society um and<00:02:49.080> in<00:02:49.260> this<00:02:49.379> country<00:02:49.500> that<00:02:49.739> will

um and in this country that will

um and in this country that will probably<00:02:50.040> take

probably take

probably take it<00:02:51.300> will<00:02:51.420> have<00:02:51.599> a<00:02:51.660> racial<00:02:51.959> element<00:02:52.080> it<00:02:52.500> will

it will have a racial element it will

it will have a racial element it will have<00:02:52.800> a<00:02:52.860> religious<00:02:53.099> element<00:02:53.340> we<00:02:54.060> even<00:02:54.239> have<00:02:54.420> a

have a religious element we even have a

have a religious element we even have a gender<00:02:54.720> element<00:02:54.959> you<00:02:55.200> see<00:02:55.319> an<00:02:55.440> age<00:02:55.560> element

gender element you see an age element

gender element you see an age element you<00:02:55.980> see<00:02:56.099> a<00:02:56.220> North<00:02:56.340> versus<00:02:56.519> South<00:02:56.819> element<00:02:57.060> you

you see a North versus South element you

you see a North versus South element you know<00:02:57.540> you<00:02:57.660> get<00:02:57.780> people<00:02:57.900> to<00:02:58.080> point<00:02:58.260> the<00:02:58.440> finger

know you get people to point the finger

know you get people to point the finger at one<00:02:58.800> another<00:02:58.980> and<00:02:59.700> then<00:02:59.819> nobody's

at one another and then nobody's

at one another and then nobody's pointing<00:03:00.540> the<00:03:00.660> finger<00:03:00.840> at<00:03:00.900> Rupa<00:03:01.200> Murdoch

pointing the finger at Rupa Murdoch

pointing the finger at Rupa Murdoch who's<00:03:01.680> just<00:03:01.920> getting<00:03:02.160> everybody's<00:03:02.879> home<00:03:03.060> you

who's just getting everybody's home you

who's just getting everybody's home you know

housing<00:03:07.980> could<00:03:08.160> be<00:03:08.280> so<00:03:08.459> much<00:03:08.580> more<00:03:08.760> affordable

housing could be so much more affordable

housing could be so much more affordable wages<00:03:09.720> could<00:03:10.019> be<00:03:10.200> so<00:03:10.379> much<00:03:10.500> higher<00:03:10.920> and<00:03:11.280> we

wages could be so much higher and we

wages could be so much higher and we could<00:03:11.580> have<00:03:11.700> so<00:03:11.940> many<00:03:12.060> more<00:03:12.239> options<00:03:12.599> in<00:03:13.080> how

could have so many more options in how

could have so many more options in how we<00:03:13.379> live<00:03:13.500> our<00:03:13.680> lives<00:03:13.860> some<00:03:14.220> of<00:03:14.400> them<00:03:14.400> put<00:03:14.640> a<00:03:14.760> lot

we live our lives some of them put a lot

we live our lives some of them put a lot of<00:03:14.940> money<00:03:15.060> into<00:03:15.300> paying<00:03:15.659> Economist<00:03:16.080> and<00:03:16.319> think

of money into paying Economist and think

of money into paying Economist and think tanks<00:03:16.920> to<00:03:17.040> tell<00:03:17.220> you<00:03:17.400> that<00:03:17.819> inequality<00:03:18.300> is

tanks to tell you that inequality is

tanks to tell you that inequality is important<00:03:18.780> for<00:03:18.900> the<00:03:19.019> economy<00:03:19.379> that<00:03:20.159> is<00:03:20.280> not

important for the economy that is not

important for the economy that is not true

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