The Rich Will Kill The Middle Class! @garyseconomics REVEALS The Secret Plan To Make You Poorer

Рет қаралды 36,846

Күн бұрын

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Watch more about how to take control of your life | Dontez Akram • How A 25 Year Old DAD ...
Timestamps
00:00 Intro
1:22 "Rich people expect poor people to be stupid"
6:35 Gary's childhood growing up in East London
11:35 This was Gary's edge
15:00 Gary was caught selling drugs
24:07 Your fears are powerful
27:40 The ONLY way to bag a job in investment banking
32:46 The opportunity gap between rich and poor kids.
37:16 The untold MISERY rich people suffer
50:48 The power of OBSESSION.
54:00 How his first $700k salary made him sad.
1:02:00 The battle between greed and social justice.
1:08:15 How the RICH are eating the middle class (full breakdown)
About the episode
Gary was from a very poor family of 5, he was an outsider. He was so good at math that he got into a college of elites to study math and economics and won Citibank’s Trading game which gave a job as a trader. In 2011, he became the best trader at Citibank after making over $11M off the downfall of the economy. He resigned years later to warn off the Oncoming disaster that is income inequality
Other Credits:
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Follow us: / calumjohnson1
Follow Gary: / garyseconomics

Пікірлер: 128

@qrogueuk 26 күн бұрын

I've been following Gary since lock-down. As a Londoner I've seen the gap between the been people that have a little and those that have a lot. London boroughs with Billionaire's Row one end and riots the other

@richhands5269 25 күн бұрын

My three favorite channels: The Calum Johnson Show, Stock Brotha, & How Money Works. Make my week complete! 🔥 🔥 🔥

@MrGavinBoyd 21 күн бұрын

The problem with Thatcherism is that you eventually run out of assets to sell to overseas investors so that they can rip off British consumers.

@JAI_8 16 күн бұрын

And long before that … you’ve created a DOMESTIC oligarchy that feels no civic duties whatsoever that has acquired so many of the country’s resources, assets and even infrastructure built with public funding, due to the mad zeal for “privatization”, that the government itself becomes so dispossessed it can no longer afford to pay these private interests (on behalf of the people) to use these assets or resources. And absent any feeling of duty except to their own rich ownership class (“the shareholders), they raise prices continuously to accommodate their own interests only regardless of the impact it is having on the country as a whole. So … same result. Reaganomics / Thatcherism eventually (it feels like we’re almost there) produces a result where the nation runs out of assets to sell to the greedy rich at the typical knock down prices featuring the tax credits and exemptions incentives they now expect as part of their natural privilege … so that they can then proceed to rip off the working class consumers.

@brentlorrilliere6057 11 күн бұрын

"do you want to talk about the game?" "no" never seen Gary so disappointed

@meruthie Ай бұрын

Was the title updated ?? I saw the title of the video earlier as something like “How 22k Japanese deaths made him do 11M” It made me feel upset reading that old title! Glad you guys changed it

@inglesconmatt Ай бұрын

This is one of the best podcasts I've ever seen. Well done to both of you

@TheBurdenOfHope 23 күн бұрын

Came here for Gary. Stayed for the Calum Johnson Show. You earned a new subscriber today. I hope you reach your goal of 100k subs ❤

@thecalumjohnsonshow 23 күн бұрын

Thank you so much🙏🏾

@OGH880 Ай бұрын

love the realness from Gary

@davehanks7861 Ай бұрын

I love your channel brother. Gives me inspiration every day

@voidwraithprime8521 23 күн бұрын

Everyone needs to listen to Gary until they've been radicalized against income inequality.

@ellow8m 19 күн бұрын

I agree

@hemtet5500 14 күн бұрын

not sure about the word radicalized I just think educated is good enough

@kc7885 Ай бұрын

Great pod! I resonate a lot with Gary's thoughts

@cosmosnomad 2 күн бұрын

Being that same person at school who was always the best at maths, I can empathise. I think you kinda extrapolate based on your own experiences and as a kid your own experiences show you that you find maths easy and that no one else you've met your age comes close. But you have to remember that maths is easy because you're probably doing "age appropriate maths" and you only really know your local area, you don't have an idea of even a reasonable segment of the population (besides maths competition particularly in Gary's case). Also, everyone always tells you how valuable maths is and if you come from a poor background that's poor people's experience of the world. I was from a fairly poor background and when I was 11 I wanted to be an accountant because that's what people who were good at maths did according to the people I knew. You just have a lot of things telling you that you can go far and nothing to tell you that it's not a dead cert. I also think when you're a kid in a poor family, you don't want to feel like your whole life will be a struggle. You want to do something with your life and for something to be easy and to do that you need to make it. I think that's a story a lot of people can empathise with and you see a lot of people these days with degrees. Except younger Millenials onwards graduated into an economy where that education doesn't buy the same lifestyle it bought the previous generations so I think a lot of intelligent people up to their mid-to-late 30s feel pretty conned tbh. I think gen alpha onwards are soooooo fucked. What's it going to be like to have even a decent lifestyle for them if you're not super smart if nothing changes?

@limitless0163 Ай бұрын

This guy is so sincere and genuine. Love this episode.

@sidocoelhojombati Ай бұрын

Thank you, for this almost 1 hour and half.

@lynnhickinbotham3784 22 күн бұрын

Love Gary been following for a few years now just finished reading his book Good luck with your channel

@daedaluxe 16 күн бұрын

Gary should teach basic economics, he has a platform now, no reason he can't, the only way we as a society can begin to claw wealth back from the ultra-rich is to stop being ultra-consumers. Don't look to the government to put logical barriers in place to stop the transfer of wealth into the pockets of the ultrarich, they already have their hands in their pockets.

@KeithFoster-me3xl 15 күн бұрын

He does. Subscribe to him and you’ll learn a whole lot.

@Erick.Gieskes 17 күн бұрын

Great interview!

@johnlittle8267 24 күн бұрын

Never heard such a compelling argument for what would effectively be liberal policies, but coming from someone that is so grounded in economics and Finance like I am, it is quite an impressive and eloquent thesis. I think where there is disagreement is how far to go, but even billionaires are saying 'please tax us more, it is ridiculous that we are paying 0% or 1% taxes!'

@Iamwhatyousayiam 23 күн бұрын

Why would they? Do you think greed has an end?

@Threadbow 22 күн бұрын

@@Iamwhatyousayiam some care about those they walk past on the streets. Care that the people on the long waiting lists die before getting treated. Not all billionaires are sociopathic asshats

@stacyliddell5038 21 күн бұрын

@@Iamwhatyousayiamdo you think only rich people are greedy?

@fat_biker 11 күн бұрын

@@Iamwhatyousayiam It did after WW2. Because the mega rich realised that wealth inequality would increase indefinitely until it ended in fascism or communism, & they ended up hanging from lamp posts or being herded into camps, as it had in the Soviet Union, Germany, Italy, & that several million people in the UK & the US had just spent years watching their mates getting blown up & learning how to kill themselves, & were going home to countries where the hyper rich _hadn't_ all been put up against a wall... so telling them that they should hand in their army boots & go back to shoes with holes in so that they hyper rich could go back to doing hyper rich things was probably not going to end as well as they hoped...

@adamm.2927 Ай бұрын

Crazzzzyyy stories Wooow

@dultonburton880 26 күн бұрын

I really love your channel, been a fan for a while! However you say 'I'm curious' about 50 times each episode.

@IntoMotivate 12 күн бұрын

One thing I didnt get from the book, did he ever help out his family financially????? He bought his dad a 12 month sky subscription…. Surely he gave them some money.

@ldandco 23 күн бұрын

I like the name of this channel "Diary of a CEO" ... Is quite original.

@teokennedy9785 28 күн бұрын

He’s right, I’ve been saying this for a few years now! An it’s happening in America as well

@Threadbow 26 күн бұрын

Purchase stock market crash linked to usa. Same on all countries linked by billionaires.

@sandworm9528 14 күн бұрын

"happening" .... It was invented in America

@gossipmongersaunt774 25 күн бұрын

I’m seriously obsessed with this book

@MelissaKrystal 25 күн бұрын

Book? Which book?

@raptori 23 күн бұрын

@@MelissaKrystal The Trading Game! It's Gary's memoir, covers all the stuff he was talking about here in more detail!

@DeputyChiefWhip 26 күн бұрын

This would make an amazing movie or series

@Threadbow 26 күн бұрын

The story is b not v over yet

@davelab6 17 күн бұрын

Gary's book already sold the movie options;))

@ethxo6734 24 күн бұрын

Ok the format is literally Diary of a CEO. Is it blantant copying or…

@tobylittle3405 23 күн бұрын

Yes blatant copy, bit of a shame as he phases his questions in almost the same way as well , intended maybe as CEO is so successful?? Something I’m very curious about ….. 😂😂😂😂

@oredaze 13 күн бұрын

I don't think inequality can be fixed. It is built into the very nature of reality. You can see it everywhere in every thing. Small amount of galaxies get most of the stars. Small amount of cities have most of the people. Small amount of words of a language get most of the use. Etc. The laws of nature do this, not people. It's just the kind of world we are born into.

@rickymort135 13 күн бұрын

Only way is government enforcing it through actual progressive taxation where the mega rich don't pay the lowest rates, but the highest

@gurindergill4420 26 күн бұрын

Stupid question- what book?

@ruffey1748 26 күн бұрын

The Trading Game by Gary Stevenson.

@stacyliddell5038 21 күн бұрын

Subbed. Let's get you to 100K subs

@KeithFoster-me3xl 15 күн бұрын

Yep, it’s like a giant game of monopoly, and one day there will only be one player left.

@Ellienollie 24 күн бұрын

IM SO POOR AND SO SMART😊

@petermanuel5043 10 күн бұрын

Scotch eggs with the famous "Grey" meat.

@gossipmongersaunt774 25 күн бұрын

Elon Musk does pay taxes though, right? Although I understand what Gal’s saying

@philipnorthfield 23 күн бұрын

Elon Musk has paid more tax than any individual alive approximately 12 billion, however he is considered to have a wealth of 220 billion, although this figure fluctuates, this is about 5%. In the UK if you had a wealth of say 50 thousand and had saved that earning 51 thousand per year you would have been paying a marginal rate of 40%... on the last thousand. What Gary is explaining is effectively the wealthy pay way way way less to the point of it being utterly obnoxious, some actually structure their remuneration in the form of debt and loans and literally pay nothing, I would hazard a guess that Mr Musk has also enjoyed such remuneration but is well aware as such a public figure to continue this practice would cause considerable push back.

@davelab6 17 күн бұрын

Musk pays capital gains tax rates which are lower!

@prneur. Ай бұрын

survivors guilt.

@Jamhael1 23 күн бұрын

C'mon, fam! At least he is honest: this speculation kills economies!

@yashpatel261 24 күн бұрын

We need a billionaire tax.

@davidc4408 Ай бұрын

What is Garys networth?

@tobylittle3405 23 күн бұрын

He has mentioned in other interviews that he has an annual passive income of £100,000

@davidc4408 23 күн бұрын

@@tobylittle3405 probably $3 to $5 million

@GenerationX1984 22 күн бұрын

Don't expect Americans (especially older Americans who already live comfortably) to stop worshiping the rich anytime soon.

@hemtet5500 14 күн бұрын

oh they won't till the wealthy start coming for the middle classes assets which actually has already begun

@chhitijpahari1011 Ай бұрын

gary every 5 seconds. I dont know what your background was like

@Bigdogstusks 26 күн бұрын

What Gary has proved is that if you are smart enough you can be a success no matter what social background you are from. So kind of debunks what he’s saying.

@funstuffonthenet5573 26 күн бұрын

I see that. I think he just thinks there aren't enough assets to go around. I think he correctly identified that. However, I dunno if his analysis is a root cause though. I don't think effective(key word, effective) tax rates were that much higher in the past on corporations. Which he claims is the only difference between the past and now. It doesn't matter if the rich accumulate more resources if there is still plenty to go around. Is there less to go around now? Fewer homes being build due to zoning laws. Infation raising prices, etc. Are we producing less in real terms?

@Threadbow 26 күн бұрын

@funstuffonthenet5573 the rich are getting massive profits and no tax, but the poor ger lower and lower wages. This is killing the poor. No health because of poverty

@dxfifa 24 күн бұрын

He's pretty clear that it was hugely lucky and that he thinks on merit he was a superior talent by such a huge level to most of his peers, even then he was passed over. Basically, if you have the right background and any drive it takes complete lack of ability and/or very bad luck to not get into finance. But only 1 in 1000 have that background. And only a couple of percent even have the background where they have a realistic chance of earning their way in (average but not trust fund rich kids). Gary basically said he had to be a top 0.01% student and very lucky to get his break competing with almost entirely trust fund babies whose parents at their poorest would be high 8 figures net worth

@dxfifa 24 күн бұрын

@@funstuffonthenet5573 The rich are non productive now, yes. They cycle assets and get capital gains while not improving them or using them to create excess goods and services

@martinbutler1075 23 күн бұрын

Dear me that shows how you have completely been taken over by the mentality he is arguing against. That is that life is a race and that if you lose - and obviously most people will lose- then poverty is completely deserved. Those emptying bins are doing something essential- should they have to live in poverty?

@DNightNinja 20 күн бұрын

Lmao Gary sits everywhere like fucking L from death note 🤣

@msylvini 9 күн бұрын

Lol 💀💀💀

@stevec5034 28 күн бұрын

Wtf was that at 31.06. Just a bit rude 😂

@Aman1012 27 күн бұрын

wanted to hear more about the card game actually

@henrytep8884 25 күн бұрын

Is this the “diary of a CEO Walmart version”?? Sir at least be original in how you ask for subs. Respect the show still but dang the tokenization is ridiculous.

@ellingeidbo8469 23 күн бұрын

The middle class has always been a mistake. The idea is to have lords and labor. Sometimes the labor makes too much and a middle class is born and that threatens the Lords so it has to be undone.

@Jamhael1 23 күн бұрын

F*ck the Lords! What they do in the end? Wear silk and be posh?

@openh2oswimmer 25 күн бұрын

WORST PODCAST EVER!! I can't buy this guys book or read about him because NO WHERE DOES IS SAY "GARY STEVENSON" or the name of his book. I found it on another channel. Get your act together, do the basics.

@tobylittle3405 23 күн бұрын

Dam that’s an obvious mistake 😂😂 😂😂

@mmef1476 22 күн бұрын

So what's the book?

@openh2oswimmer 22 күн бұрын

@@mmef1476 "The Trading Game" haven't read it yet, first thing that comes up when you google Gary Stevenson

@openh2oswimmer 19 күн бұрын

@@mmef1476 the trading game, listening to it now

@drew-drewzilla-borham9276 19 күн бұрын

His @garyeconomics and link to his insta are literally in the description… you are a prat.

@STARZldnlyfe Ай бұрын

Poorer African countries???

@McFlashh 24 күн бұрын

You made the bank 700k, not for yourself.

@tobylittle3405 23 күн бұрын

Made the bank 12 million pounds, think that equates to roughly 20 million dollars. His bonus was 400,000 pounds that he said equates to roughly 700,000 dollars

@davelab6 17 күн бұрын

Exactly; he made 700k as a percentage of what he made the bank (over 10x that)

@aupti 26 күн бұрын

He does not understand the economy as much as he thinks. The natural state is poverty. Not the other way around

@henrytep8884 25 күн бұрын

Are you saying we live in an impoverished and scarce universe? If that is the case can you break down the amount of material in the universe versus what is needed for humans to survive? Does that equate to poverty and scarcity?

@aupti 25 күн бұрын

@@henrytep8884 I’m saying people everywhere were always poor. The question is why did some become rich. And exploitation does not explain it in the west because this scale was never seen before

@henrytep8884 25 күн бұрын

@@aupti what scale? Exploitation explains a lot about how a lot of people in human history got rich. Are you saying exploitation of labor never leads to enriching some people? How are you going to write off exploitation when it’s been one of the best indicators of wealth accumulation, especially in the west?

@henrytep8884 25 күн бұрын

@@aupti when talent, government policy, intelligence and exploitation of labor all occurs, do you think people don’t become rich? What is your argument?

@aupti 25 күн бұрын

@@henrytep8884 if exploitation was an explanation you could not explain why societies like Iceland or Israel or America became rich even for the middle class. Old exploitation model would have a king for every million people. That’s not today’s reality. I think the problem is that people assume that equality can maintain itself when freedom is added. It can’t

@adamsimmonds5323 29 күн бұрын

What a pompous and pretentious email that was at the end. The level of entitlement and arrogance in younger generations these days is off the charts. I’m Gen X and also used to pay 50% of my income on rent 25 years ago, for 15 years, until I started my own business at 32 and moved up the financial ladder from there. Stop bitching and whining and blaming other people for your predicament in life. You are responsible for where you are in life right now, nobody else.

@slchance8839 29 күн бұрын

100% Gen X here, too. Like you, i started my own business and improved my own life. But before then, though. Life was a little rough. Had the power/lights shut off b/c I didnt have enough money for the bill. Got a few eviction notices at my apartment, because i didnt have enough money in my account. ANd one of the things that bothered me the most is the FINES you get for not having enough money in your account. A FINE for not having enough money?! They take money for not having ENOUGH money. Well, I worked my ass off. I had 1 regular min wage job and took as many part time odd jobs as I could and 14 years later....it's better. But for a long time, there was a lot I could complain about. BUt i didnt. I just kept at it. I just now bought a 1967 corvette and cant wait for it stop raining to take it out. It looks like....victory. Good on you, my friend. I get so irritated when I hear young people complaining about how they're not on top of the world. That's not where you start. You start far away from there....and work your way up

@Threadbow 26 күн бұрын

@slchance8839 I agree but things are slanted now more as house prices are so high. Working people have to claim benefits to top up wages and have to go to foodbanks

@kr050 25 күн бұрын

Good for you buddy. But what if you weren't one of the successful businesses, what if you were one of the ones that had failed? It great it worked out for you, but there needs to be other routes that work because everyone can't have their own successful business.

@martinbutler1075 23 күн бұрын

What a ridiculous point. Everything is personalised. Can see that most people logically CANNOT be successful. If everyone was successful then they wouldn’t be successful would they? If you can work that out. Who would empty the bins? Who would deliver the mail? If you do a basic but essential job does that mean that you are ‘not successful’ and so you deserve to be in poverty?

@goych 20 күн бұрын

That was your take from an hour and a half, I think you need to grow up

@almurabitun Ай бұрын

Don G

@user-vl4ex5dr6o 23 күн бұрын

Stop begging a sub seriously

@goych 20 күн бұрын

What?

@kis.stupid 21 күн бұрын

Watched until the last chapter but sounds like another self-aggrandizing, slightly resentful lefty pointing fingers. "Blame the 1%", "you belong to the 1%", "No, I meant the 1% better than me" clear case of 'Elon derangement syndrome'. He cuts into Elon but brushes over the rest, speaks volumes. And, of all things pandemic he can somehow only criticize Elon? How convenient, another mouth piece. What's the saying? "Smart people are better at convincing themselves of things they want to believe rather than things that are actually true. This is why intelligent people tend to have stronger ideological biases; being better at reasoning makes them better at rationalizing.”

@joelbenson5322 16 күн бұрын

It’s an objective fact that billionaires are WAY richer than him. His net worth is probably under £10 million, yes that’s very rich but it’s nowhere near as rich as the real wealth holders in society. The richest 3 Americans hold more wealth than the bottom 160 million people in the country. That is absolutely mental, there is literally no way you can justify this level of wealth concentration. They have a combined wealth of $566 billion. For 40 years we’ve moved away from lefty economic policy, we’ve seen neoliberalism run wild. We’ve seen what privatisation and a lack of wealth redistribution does. We’ve had 40 years to observe it, and it’s clear that wealth inequality is just getting worse and worse. How can you deny his message? It astounds me that people STILL think that you are a mental lefty for saying we clearly need to redistribute wealth because something has gone very very wrong here.