The economy, wealth inequality and survival

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There's another thread on wealth inequality which you can access here:

pmbug

Wealth inequality and the Fed's inflationary monetary policy

Over the last two years, the richest 1% of people have accumulated close to two-thirds of all new wealth created around the world, a new report from Oxfam says.

A total of $42 trillion in new wealth has been created since 2020, with $26 trillion, or 63%, of that being amassed by the top 1% of the ultra-rich, according to the report. The remaining 99% of the global population collected just $16 trillion of new wealth, the global poverty charity says.
...
Gabriela Bucher, executive director of Oxfam International, called for taxes to be increased for the ultra-rich, saying that this was...
Click to expand...
  • Thanks

This one is going to be a bit different. I plan on posting mainly about surviving in an economy based on wealth inequality and where the game is rigged. Feel free to chime in.

This may seem like it's preaching to the choir, but we do have guests and it's a subject I enjoy. YMMV, so take it fwiw and dyodd.

Understand the Economy Part 2: What Is Wealth Inequality?​

Nothing to see. Can listen in one tab, play around the forum in a different tab.


27:34

Understand the Economy Part 1: What is wealth?​

Understand the Economy Part 3: Why is Inequality​

 
Nothing to see. You know the drill.

Gary Stevenson on Surviving the Broken Economy and His Mission to Stop Rising Inequality​

In this episode, Jake and Damian sit down with Gary to break down the rising poverty crisis and how the economic system is designed to benefit the wealthy while keeping everyone else stuck. He explains why working harder isn’t the solution and how the financial rules are set up to make it nearly impossible for most people to get ahead.

Gary also dives into the impact of major political shifts, including what Donald Trump’s return to power could mean for everyday people. He shares insights on the economic changes coming in the next 12 months that could directly affect the money in our pockets, and why young people need to rethink how they approach success in today’s economy.

Gary Stevenson on Surviving the Broken Economy and His Mission to
 
Very interesting comments below the vid on youtube.

How to keep your house​

Feb 2, 2025
Own a house? The rich will take everything else away from you until you have to sell.


14:43
 
The Fed inflates asset prices. You want to benefit, you need to own the inflated assets. Stacking gold and silver is the counter play. Stacking is preparing for the time when the Fed loses power/control (assets and USD crash).
 
^^^^^
Gary Stevenson (video dude) has said the same thing.
 
This is one man's opinion, take it fwiw and dyodd. Nothing to see, can listen in one tab, play around the forum in a different tab.

Gary Stevenson on taxing the rich and why you're getting poorer | WTCTW podcast​

Mar 5, 2025 Ways to Change The World | Podcast

Why are the rich getting even wealthier while the middle and working classes continue to struggle? Former top trader Gary Stevenson - the star behind popular YouTube channel ‪@garyseconomics‬
  • breaks down how wealth inequality is driving down living standards for the middle and working classes on this episode of Ways to Change the World.
He tells Krishnan Guru-Murthy how the rich grow their wealth through passive income and investments, while ordinary people fall into debt, and argues that low interest rates, tax policies, and government responses to crises like 2008 and COVID-19 have mainly benefited the wealthy, deepening the financial divide. And finally, he urges people to educate themselves and push for change before inequality spirals further out of control.


48:51
 
I enjoy Gary's vids but they are one man's opinion so you should dyodd.

Why aren't we all getting rich from compound interest?​

Mar 9, 2025

Just let your wealth compound over time and you'll be a millionaire, the advice goes. If this is true, why aren't more people rich?


22:55
 
Nothing special. Just something I enjoyed watching.

What it's like being working class at Oxford University​

Jan 8, 2022

Gary goes of in search of his favourite pubs as a student and talks about being working class at the elite Oxford University when he gets there.
"I'm a nobody right, like I'm a short guy from a poor background in Ilford. I'm not handsome like a model, I don't have no connections you know,I mean I'm not excellent at football; the only thing I've got is I can make good predictions and because I understand the economy better than anyone else that is enough to get to the top in the city, but it gets you nowhere in academia
I would have to spend years working the game and making connections and doing all of this stupid academic maths on whiteboards while at the same time the world's getting worse and worse & at the end of it there's no guarantee that I'm going to fix anything"


11:27

Economists Mentioned (Country Of Birth)
Gabriel Zucman (France)
Thomas Piketty (France)
Amir Sufi (USA)
Atif Mian (Pakistan)
Ludwig Straub (Germany)
Ha-Joon Chang (South Korea)
 
1745076021159.png

From the book "Voices in My Head" by Richard Joseph Cronborg
 
^^^^^

And the rich kids, whose parents "take care of their own" - often fail to impart survival skills in the kids. They are SENT to the best universities, and GIVEN a job, and PLACED on the Fast-Track...and when they finally do have to stand on their own, they wind up to be not what their parents were.

What's the Chinese proverb? Four generations - peasant, to merchant, to nobility, to peasant.

The Ford family illustrates it well - of the current living generations, mediocrity emanates from them like B.O. Billy Ford is the best of them, and he's only marginally competent - the board demanded his resignation as CEO (he hired Alan Mullaly to replace him, but Mullaly is long gone) and since then, it's been a parade of incompetents. The current fool, Jim Farley, former exec of an OFFICE-FURNITURE maker, ferchrissakes...made the decision six years ago to discontinue regular passenger cars (and economy models) in favor of trucks-trucks-TRUCKS!! Because $30k F150s (their price back then) were selling like hotcakes. Making the company money.

Making the company MOAR money when they sold lifted, ever-more-blinged-out F150 Raptor 4X4s to Stimmy-check holders. Until, as happens, the bubble popped - all fall down. The repo man cometh, and now the maxed-out debt slaves cannot find a way to buy $80k F150s. And there are no Focus models for them to buy while trying to get their finances under control.

Stupid decision, one of dozens, by stupid people hired by the stupid scions of a family tree that's long had its brain genetics diluted.

So, if someone doesn't make it...yeah, circumstances play a part. The greatest successes came from people who came from humble beginnings. Henry Ford, Andrew Carnegie, Henry Kaiser (started his working life on a road-paving crew, and founded a conglomerate) George Eastman, Edwin Land...it's a long list.

The list of those who made it big from wealthy beginnings is shorter. Trump, yes. Billy Gates, but he had lots of CIA help. AND no qualms about stealing others' work.
 
Nothing to see, can listen in one tab, play around the forum in a different tab. I listen as background noise whilst surfing the forum / web.

Signing off: how close are we to winning higher taxes on the rich?​

Apr 20, 2025

In this last video before a break, Gary asks: just how close we are to convincing the government to tax the rich more? And reveals whether he's inviting Labour onto the channel or not. And discusses why the press have been attacking him. And explains where he's going exactly.


32:33
 
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