Gary Stevenson
speaker
5,834 appearances
16 recordings
3 series
first heard Apr 2026
last heard 26 Jul
Gary Stevenson’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 16 in all, peaking in Jul 2026 with 6.
Appearances
And as the rich get aggressively richer, the very rich, what one of the big consequences that we are seeing and will continue to see is the very aggressive increase in asset prices.
And that is like a quite predictable, understandable consequence of the fact that
as rich people generate larger and larger amounts of passive income they the very richest spend basically all of their income on asset purchases so as they get richer and richer and richer they'll be putting more and more money into the purchasing of assets and asset prices will go up and up and up and this causes quite a frequent kind of like psychological game in people's heads especially the heads of asset owners which is like well all my house price is going to go up like that's going to be fantastic and i'm going to be rich
The thing you need to understand about that is as the rich get richer and richer and richer and richer, as they buy more and more and more assets, they will also increase their consumption of the things that you need and they will start to try and squeeze you out of being able to access those things.
I think the most obvious examples of this at the moment are
housing in large cities.
So the rich and I think one thing that's important to recognize about the rich and the billionaire class is they will
build quite a large entourage around themselves.
I think what we're seeing at the moment is basically the re-creation of the feudal system.
So if anyone doesn't know what the feudal system is, it's commonly drawn as like a pyramid.
So the feudal system was the kind of social system that was common in Europe throughout most of the medieval period, you know, the whole of like, I don't know, from year 800 to the year, I don't know, 1700 or something like this, feudal system basically.
and you have the king he owns everything but you know he has you have these classes around him like you know the knights and you know the landed gentry and the clergy and all of these different important members of society that you know you have that are each you have like each rung like a pyramid is a bit poorer than the other and the rich they will build
big entourage around them and you will see you know somebody like me when i was from a poor background but was getting paid a lot of money to basically manage money for the rich um i was basically sort of part of the riches essentially like protective entourage and you will see like certain groups of people who are willing to like directly protect the rich's interest like politicians like people who are willing to go on the media and argue against wealth taxes
like traders making good money um but basically you have the situation where the rich will increasingly monopolize not just asset ownership but also like the usage of the things that you need for their entourage and you'll reach the situation which you're already in where basically you will not be able to like rent in a big city like london or new york or paris unless you are part of the direct entourage of the rich
So what you see is they drive up the cost of renting in big cities goes up.
Another really big example of where increased consumption of the super rich class and their entourage is squeezing ordinary people out.
Probably the most obvious is education.
So, you know, just
20 years ago when I was at university, I went to university for £1,000 a year, £3,000 in total.
In just that 20 years since I went to university, what you've seen is education has aggressively become, I'm talking about university education, has become aggressively unaffordable for regular working families.
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