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I like the idea of redistributing wealth. However, it seems unlikely that any governments which are enthralled to Neo-Liberalism would do such a thing. It would go against everything they believe in. Take the current UK government, for example. They have given very lucrative contracts for the supply of PPE's, and of Test, Track and Isolate into private hands – such as Deloitte, Serco, etc.
LOGIC would have dictated that they use the NHS, and the Universities, who have the means and the expertise to implement Test, Track and Isolate. But NO, they put these into the hands of private companies. Cronyism? For sure. But also the ideological dogma that the markets must determine EVERYTHING. For this Tory government, public spending is highly undesirable. The NHS is therefore detestable in their eyes. They even want to privatise prisons. That is Neo-Liberalism in a pure form, just as in the USA where private health care paid for by health insurance is their system. Too bad if you're poor and ill in the USA.
Fast forward to 2024, after the next General Election, and supposing Labour get to govern, the idea of wealth redistribution becomes somewhat more likely, dependant upon whether the left or the right of the party are in control.
Frankly, any government which is more than willing to deny children in poverty one free meal per day during Christmas holidays, are hardly likely to engage in a major wealth redistribution policy, no matter how much poverty and suffering there may be in the nation.
Ray Dalio said that same.
The bail ins are incorporated into banking regs in the US and have been for while. Anything over £85k is fair game to the banks as Neil says when you 'Deposit' you create a liability and they don't like liabilities. Don't be lazy, take any surplus currency out of your bank and buy gold and silver, take fiduciary responsibility back. Strange but Fiat is 50 next year, any coincidence that it's falling apart? The whole banking system is corrupt and based on a lie that has existed for those 50 yrs no wonder it's being flushed and replaced with something even more sinister?
Hi Neil, another great episode of the latest happening. We should just be very careful and expect that the light at the end of the tunnel might turn out to be the countermove.
If the banks went into negative interest rates so that we are paying them to look after our money would that disarm the bail-in mechanism? As Neil put it in the video currently, when we deposit money, we are unsecured creditors to the banks and they pay us (interest) to 'borrow' our money. If we are paying them to take care of our money how would that effect the legal situation surrounding bail-ins? Would that change the situation of the bank going 'legitmately' broke and being unable to pay it's creditors to one of theft and malfeasance? Just a thought?
This is my favorite of your videos to date! Thank you so much for all this information.
This is exactly what Ray Dalio keeps saying.. I think this stupid broken system still has room to continue for another 2-3 years… nothing major will happen anytime soon…
MY ANCESTORS WERE LORDS BEFORE WW1 THET MUST OF HAD THERE OWN ARMIES , BUT I AINT RICH
The supply of humans is too high vs the jobs available at wages to support western lifestyles. There are not billions of $60k a year jobs so that poverty can be elliminated. Too many folks worldwide only earn enough wages to buy food for that day. In the USA, it feels like nobody wants to accept they should be living with relatives and pooling finances to make ends meet. Free govt stimulus or UBI will only encourage mismanagement of people and their funds. It's not a happy place to realize you can't afford to live the life you want to live and that you may not have the skills to get a job that pays enough to live the life you want. Reality is harsh. Governments skewing the free markets to create bubbles will only make things worse years from now when we crash from artificially created highs
Why would the government just give everyone money??
The average person has no idea what you’re talking about. Me included.
Even if you get a 1% loan on a home- you still need a job to pay your mortgage. Right?
There is definitely an over supply of goods.
Thank you for your intellectual truthful analysis
The only way to balance out QE is deflationary causing unemployment. They have to raise the demand for currency if they are going to devalue it. That’s why we are seeing these high unemployment recessions every decade. It’s programmed in
Love your input aways Neil! Happy Halloween.
Hi Neil , I just tried to watch your reset video and YouTube would not let me open as it has been deemed as “ offensive”. Unbelievable!
Isn't it funny that humans work day and night, sometimes ruining relationships, families, friendships to earn that green paper, while some people (Fed and govt) just print that money out of thin air like some sort of magic???
No sorry these things are not natural cycles. Far from it. Perhaps in England. But not here. I will take the word of a man far wiser than you me and these bankers.“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”
I eagerly await this round. This one is not like the others. This time will not end well for most anyone. I eagerly await a true reset
Amazon and Trump paid zero taxes compared to the middle class paying anywhere from 10-20K on average. Think about that for a sec.
Neil you are 100% correct, Joe Biden is saying the rich people will PAY their fair share. everything is adding up here, seems like a great depression is coming
The richest people have bunkers in New Zealand, and can run their businesses from these bunkers bc everything is remote. Once things get hairy, we won't see them again until after the civil war
The City of London is the biggest money laundering centre in the world. The money flows in from around the world and Britain's rich and flows out to all the UKs tax havens in the British Virgin Islands, Bermuda, the Cayman Islands, Turks and Caicos Islands, Anguilla, the Isle of Man, Jersey and Guernsey and the Queen along with the rest of her family have hundreds of millions hidden off shore. Taxing the rich is not going to happen but everyone one else yes. I gave up going to the pub when a pint of beer hit £5 that was enough tax for me.
Its called the END OF USUFRUCT. Hague IV War On Land Article 55, Administrators under Rules of Usufruct. England is OCCUPIED. The Empire IS OCCUPIED.
Thank you.
being neutral on climate change is like being neutral on the force of gravity
Hey I lived in Australia and it was always summertime
We will go into a deep recession which if not for government meddling would last about 2 years. With government helping to solve the crisis, it will last ten years. Just like the '30s.
Stock are good Crypto is better
Great, insightful analysis again Neil, thanks so much but I think you are too optimistic about the wealth redistribution (taxing rich guys etc) this time. They don’t have guns, armies but they do have much more power than these nowadays… Please think and check once again what the multinational conglomerates and especially the FANGs are capable to do in the globe…
Eat beans and solve the gas shortage.
Stocks are good but i swapped and invested in forex, Bitcoin and other Cryptocurrency. I have been making good profits.
I’m thinking about the major law suites the gov might face in a failure to protect its population in a global pandemic. Is any one thinking. How is it possible any evictions occur when things are ordered shut down and our people tossed out into the street while wall street keeps getting huge chunks and larger than ever bonuses? Failure of government under such conditions is likely indictable. Republicans and Dems alike. Complete failure.
Thank you 👏👏🎆
The rich do indeed have absolute control just as in the days of kings because they have bought and intimidated all leaders. It is obvious that this is the case as they have succeeded in shutting down the world economy by creating a "pandemic".
This sounds like a great concept for a board game.
Neil Love your videos. Please do a detailed video such as this on the economic Sitituation of India.
So what do we do about this problem>. Any solutions?
We hear you o great Explainer
We owe China And Now it’s Payback They we’ll be the leading world Power
I read an article on this.