Daniel Priestley

Basically, you take all the countries where the government becomes big, they meddle with your life, they're involved in every decision, half the economy. I mean, here's one other thing. This period is known as the golden age of capitalism.

50 years after the Second World War. Oh, it's the golden age of middle class, to be middle class.

50 years after the Second World War. Oh, it's the golden age of middle class, to be middle class.

No, of course I do. But the 70 years after World War II where the government sold off all of its houses to middle class people so we got housing wealth, but you can only do that trick once, right? So you can only sell off all the houses to everyone once, which is why all the baby boomers own them.

No, of course I do. But the 70 years after World War II where the government sold off all of its houses to middle class people so we got housing wealth, but you can only do that trick once, right? So you can only sell off all the houses to everyone once, which is why all the baby boomers own them.

When do you pinpoint living standards collapsing?

When do you pinpoint living standards collapsing?

Yeah, I agree. And take Singapore, for example, where everyone's encouraged to own properties. They've got an amazing system in Singapore.

Yeah, I agree. And take Singapore, for example, where everyone's encouraged to own properties. They've got an amazing system in Singapore.

Enormous government. It's 25% of GDP. But they own the houses. They have a wealth fund. They own all the houses. They don't own all the houses. They have a sovereign wealth fund that circulates houses through. They own the houses. They've solved property. Singapore owns the house. The Singapore government owns an enormous share of the housing stock. So do you think we should own the housing stock?

Enormous government. It's 25% of GDP. But they own the houses. They have a wealth fund. They own all the houses. They don't own all the houses. They have a sovereign wealth fund that circulates houses through. They own the houses. They've solved property. Singapore owns the house. The Singapore government owns an enormous share of the housing stock. So do you think we should own the housing stock?

It's actually owned by pension funds. People, they force, not force their citizens, but they direct their citizens into home ownership.

It's actually owned by pension funds. People, they force, not force their citizens, but they direct their citizens into home ownership.

I just know the Singaporean government is only 25% of the economy. But a big share of the housing stock. So 75% of the economy is capitalist.

I just know the Singaporean government is only 25% of the economy. But a big share of the housing stock. So 75% of the economy is capitalist.

Yeah, it seems like an obvious solution. It seems like... Yeah, it's a good solution. It seems like, like, hey, who's got the money? Rich people. Not the money, the assets. Who's got the assets? Rich people, then let's just take them off them and... No, no, no, I don't want to redistribute.

Yeah, it seems like an obvious solution. It seems like... Yeah, it's a good solution. It seems like, like, hey, who's got the money? Rich people. Not the money, the assets. Who's got the assets? Rich people, then let's just take them off them and... No, no, no, I don't want to redistribute.

So the difference is for me, it's very simple, which is I really truly believe that free markets and low governments and less taxes creates more wealth in the middle.

So the difference is for me, it's very simple, which is I really truly believe that free markets and low governments and less taxes creates more wealth in the middle.

Can I ask you though, if wealth inequality could be solved but everyone does worse, is that a good solution?