Steven
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Daniel, where do you come from?
As we sit here today, can you give me the overview of your business success since then?
As we sit here today, can you give me the overview of your business success since then?
And when you think about the UK and broadly the Western world today, what is your assessment of where we're at as a country and what's concerning you? Because Gary expressed quite articulately that his big concern is that because of wealth inequality, we're going to end up in a similar position to the likes of India. What are you concerned about?
And when you think about the UK and broadly the Western world today, what is your assessment of where we're at as a country and what's concerning you? Because Gary expressed quite articulately that his big concern is that because of wealth inequality, we're going to end up in a similar position to the likes of India. What are you concerned about?
And who do they blame?
And who do they blame?
Gary, I'm sure you have a lot to say there. I know you both use the word collapsing. So you agree that there's a problem here. But I think you, from studying both of your sort of perspectives, you think that the solution and the cause of the problem is different?
Gary, I'm sure you have a lot to say there. I know you both use the word collapsing. So you agree that there's a problem here. But I think you, from studying both of your sort of perspectives, you think that the solution and the cause of the problem is different?
I mean, I put bets on. I put bets on. That's what I do. I put bets on. At the beginning of COVID, we knew the government was going to give an enormous amount of money out, total amount of money now, UK government deficit. Since the beginning of COVID, it's ยฃ1 trillion. US number is $14 trillion. That's, you know, ยฃ20,000 per UK adult.
I mean, I put bets on. I put bets on. That's what I do. I put bets on. At the beginning of COVID, we knew the government was going to give an enormous amount of money out, total amount of money now, UK government deficit. Since the beginning of COVID, it's ยฃ1 trillion. US number is $14 trillion. That's, you know, ยฃ20,000 per UK adult.
My background is I understand that when the distribution gets worse, when inequality gets worse, living standards fall. So when the UK government was going to give a trillion pounds out, all I wanted to know was who's going to end up with that money. That's all I wanted to know. And I mean, the US number, 13 trillion, 14 trillion, it's just outlandish.
My background is I understand that when the distribution gets worse, when inequality gets worse, living standards fall. So when the UK government was going to give a trillion pounds out, all I wanted to know was who's going to end up with that money. That's all I wanted to know. And I mean, the US number, 13 trillion, 14 trillion, it's just outlandish.
But I think the most amazing thing I've ever seen in my whole life was that at the beginning of COVID, the very beginning of COVID, we knew... governments across the world are going to be giving out tens of trillions of pounds, dollars, euros. Nobody even thought to ask who's going to get tens of trillions richer.
But I think the most amazing thing I've ever seen in my whole life was that at the beginning of COVID, the very beginning of COVID, we knew... governments across the world are going to be giving out tens of trillions of pounds, dollars, euros. Nobody even thought to ask who's going to get tens of trillions richer.
Nobody in the Conservatives, nobody in Labour, nobody in the Republicans, nobody in Democrats, nobody in the media, nobody in academia, nobody in the central banks. Nobody asked this. It's almost beautiful. It's unbelievable. It's unbelievable. So I sat down and I did the analysis at the beginning.
Nobody in the Conservatives, nobody in Labour, nobody in the Republicans, nobody in Democrats, nobody in the media, nobody in academia, nobody in the central banks. Nobody asked this. It's almost beautiful. It's unbelievable. It's unbelievable. So I sat down and I did the analysis at the beginning.
Because lockdown is essentially banning the spending of the rich and replacing that spending of the rich with printed money from government. What happens is the government gives workers money. They use that money to pay their bills, to pay their rent, pay their mortgage. It goes to the rich. The rich can't spend it because they're locked indoors.
Because lockdown is essentially banning the spending of the rich and replacing that spending of the rich with printed money from government. What happens is the government gives workers money. They use that money to pay their bills, to pay their rent, pay their mortgage. It goes to the rich. The rich can't spend it because they're locked indoors.
And what you get is essentially an enormous amount of money from the government to the poor, to the rich. And this massive, massive transfer of wealth is... That was so obviously going to happen at the beginning of COVID. Nobody discussed it, which I think is itself amazing. Let me ask you a question, all right?