...and then Rishi Sunak comes out and says  'I will pledge to bring down inflation' and  

I was thinking this guy this guy that is like  me saying (we filmed this in January) that's  

me saying I'll pledge in the next 6 months to  bring the temperature up by at least 10 degrees

yeah go on what do you wanna ask? I mean you even touched on it just now but

you've talked about how important accountability is is and that people should be you know held accountable

for their predictions, don't know if you caught it in the  news today but Rishi Sunak made some predictions...  

okay yeah this is good I'm glad you asked me this  *is this not what you wanted?* all right so this is 

funny right so today Rishi Sunak has come out  with his five big pledges is it five five pledges?   

um and pledge number one maybe is um that he's  gonna cut in first in in half and it is funny right  

because me and you (me and Sim) the guy that does the videos, me and Sim was talking  

earlier today and about predictions and I said  inflation will come down and we know inflation  

will come down because every month you have  inflation right and then the number they show you  

on the news is the annual inflation so it's the  last 12 months right and the big inflation months 

last year were I think like April May maybe March  April May big big inflation months right so we  

know that in six months time those massive months  will drop out of the data so we know with almost  

certainty that inflation is going to come  down really quickly and I was saying like  

if we wanted to be cheeky we could go on  the channel and we could make a prediction  

inflation will come down even though really  it's obvious that it will come down even  

though it's definite it will come down and then  Rishi Sunak comes out and says I will pledge  

to bring down inflation and I was thinking  this guy this guy that is like me saying right 

we're filming this in January that's me  saying I'll pledge in the next six months to  

bring the temperature up by at least 10  degrees you know this you know like  

we know with almost certainty already this  thing will happen right and he's saying

Me, Rishi Sunak I'm gonna do this, this guy's a joke right this guy's such a joker

but I mean what can you say man? cheers Rishi Sunak, its a good strategy

you know he will succeed at least in that one part of his five point policy  

because any [*] could succeed in the thing that was going to happen anyway um but well done  

and I think what we should add inflation coming down does not mean prices coming down  

inflation is the rate of increase in prices so it just means that prices are going to stop going up  

as fast as they were so you know you don't make things better he said what he's saying is  

I'm gonna make the rate at which your life is getting  worse a bit slower so well done billionaire Rishi Sunak  

I'm sure the country will be proud of your work  *you use the word joke I think you're right but  

I know part of me thinks the jokes on us because  it will work, people will be like yeah he said it  

and it's happened so* personally I don't think  that Rishi Sunak is very popular I don't think  

he will be very popular um and I think this is... I'm an economist not politician right, but first of all  

I think the guy um does not come across as very  human or very understanding of ordinary people  

did you see the clip the other day of him in the soup  kitchen asking a homeless man if he's thinking  

about getting into Finance? *it's beyond belief!*  yeah um yeah so I think he's not very personally  

likable I think he's quite out of touch you see the clip when he was a kid when he was saying you  

know "I've got friends who are upper class, friends who are middle class, friends who are working class...  

well not working class!" did you see that one? this is a very wealthy guy from very wealthy family  

um I never met him he could be personally  a very nice guy, we don't know, he might be  

um but beyond his personal failings I think  the main reason why Rishi Sunak will not  

be popular is because the economy the  economic situation is going to get worse  

it's going to get worse and like it's bad right  what is happening is bad and it's going to get  

worse and the reason I know that is because  as I've been speaking about from the beginning  

in the last few years there's been a massive  transfer of cash from the government to the rich  

through which are still sitting on that money  they will use that money to buy their assets  

from the middle class to drive up things like  house prices to the drive up things like stock  

prices which makes the rich richer and makes  it harder for middle class people to move up  

so we know the middle class will shrink we know  life will continue to become more unaffordable for  

ordinary people we know these things will happen  and we know there's no mechanism to reverse that  

because once the rich get richer they buy more  assets from the middle class middle class gets  

poorer which means that the rate of inequality  increasing increases more because the middle  

class has a less assets and the rich have more  assets so we know things will get worse and  

ultimately at the end of the day that the  speed at which life is getting worse now  

people are not going to accept it of course  people are not going to accept that and I  

wouldn't be surprised this is not expected in the  betting market I wouldn't be surprised if Rishi Sunak 

is replaced before the next election because  he's unpopular I don't think it will get bought  

I don't think it will be bought I think that I  think that um it will not be popular I think  

the conservatives will lose the next election but as I've spoken about many times on the channel  

my big fear is not that the conservatives win the  next election although I hope that they don't 

it's that labour wins the next election they don't  do anything about wealth inequality things continue  

to get worse and then people start feeling  like we need something more extreme you know  

we need something more extreme and then we you  know what is happening now in terms of the rapid  

decrease in living standards the rapid increase  inequality very similar to the 1920s and 1930s  

you know look what happened then, Europe fell into fascism we had the second world war  

we had the Holocaust, we had the Nazis, you know I'm not saying, look, I'm not saying these things will  

happen again you know and I pray to God that  these things do not happen again but if you  

people will vote for something sensible 3 times, 4 times, 5 times, maybe 6 times and if every

single time their life gets worse and worse and worse eventually they'll vote for something insane 

and you can understand why they would do that right so you know I take a step back  

from Rishi Sunak and I look at the global picture  and I think this is important people understand  

that what is happening in the UK is not happening  just in the UK that it is true that the UK has had  

a particular dive in the last like five six  years living standards have fallen a lot but  

living standards are falling everywhere for the average person in the United States which is  

supposed to be the richest country in the world in Western Europe even in countries like Germany  

which are considered to be rich you know I lived in Japan for 2 years, I know Japan very well

even in Japan life is getting worse and life is getting harder especially if you don't come from  

a family of assets right so and some of these countries have left wing governments right 

you know the Democrats are in charge in the U.S um Spain and Germany both have left wing  

governments and they are, even in those cases, massive increase in inequality during Covid-19

massive decrease in living standards  so this is a problem that is bigger than the  

Conservatives, Labour, Republicans, Democrats this is about an understanding of the importance  

of wealth inequality and a willingness to  make that change in spite of the fact that  

most major political parties are funded by  billionaires right or very wealthy people so  

I think what we need to do and the people  who support this channel need to do  

we need to really build that bridge between  wealth inequality is bad from an ethical moral  

perspective and wealth inequality is [ __ ] your  [ __ ] lives, your family, your economy in a way  

that will get worse and worse and worse you know  I've used this analogy a number of times on the  

channel that wealth inequality is cancer and I  know that is strong language and I don't use  

accidentally the reason I use that language  is because wealth inequality is a thing which  

if left to its own devices will grow and will  grow and will grow and will grow and it will  

suck the wealth out of the middle class and  it will leave you with a very unequal economy  

like like the economy in Brazil for example  that is what will happen here you know and  

that is like a cancer if you don't do anything  about it it grows and it grows and it grows and  

it grows and it sucks away the resources that you  need and eventually you will die you know this is

I'm not I don't understand everything about  the economy but I understand this one thing  

if you allow this thing to grow unchecked it  will destroy everything. it will make the NHS  

unaffordable - we will lose it, it'll make education  unaffordable - we will lose it, it will make housing  

unaffordable and we will lose it and this is not a  UK specific problem you know we've been getting a  

lot of messages from America lately and what do  they say every single one of them says the same  

thing it's the same in the USA, *well Australia*  even like you know Australia was considered a  

very wealthy country right every single one of  these messages it's the same thing it's the same  

thing it's the same thing and you know at the  same time you know the government wants to say

us because the foreign is because of brexit this  is an international problem, International problem  

and you're not going to fix it by voting these  people out right in the end you need to demand  

a reduction in wealth inequality and you need to  say I'm not going to vote for anyone that doesn't  

give us a reduction in wealth inequality you  know listen if you know okay I've been quite  

critical of the conservatives on this channel if  they were to turn around and convince me really  

convince me that they were going to reduce wealth  inequality I would vote for them and I would tell  

the viewers to vote for them because that is what  matters what matters is that you kill this cancer  

that is what matters you need to get rid of this  you need to do all this thing and I don't think they 

they will do that because the prime minister is  worth 770 million pounds and his father-in-law  

is one of the richest men in the world...

money currently is flowing from the government to the rich leaving the government with big piles

of debt and the rich with big parts of money there's one other thing they can do with that

massive amount of income they can buy your mom's house