Will We Pay Back the Government Debt? - Gary Stevenson on LBC with Tom Swarbrick

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Interview with Tom Swarbrick on LBC.
Will we ever pay back the government debt racked up over Covid-19?
Do we have to?
What other problems does it cause if we don't?
Broadcast on LBC @ 10.08 on 22/10/2020
Published with permission from LBC
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Spoken by Gary Stevenson
GARY'S ECONOMICS
Edited by Simran Mohan
MOHAN MEDIA 2020

Опубликовано:

25 окт 2020

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Комментарии : 52

@ritcha02 2 года назад

Gary is an absolute gift. Listen to him.

@LukePuzzar234 Год назад

Wow listening to this tight now is incredible. Gary predicts the cost of living crisis before anyone else I've heard from. Spot on.

@tstfhayden 4 месяца назад

Astonishing listening to this in 2024. Writing history before it happens.

@nicholasmartin297 Год назад

Two years ago he predicted rising inflation and the cost living crisis. And he was right. I only discovered Gary last night. The fact that he is now campaigning against inequality is commendable. I would love to know what his take is on Liz Truss, so I’m going to look that up now.

@kevinwells768 Год назад

Exactly

@michaelodonovan6989 2 года назад

You deserve a lot more views. Keep it up dude, I am watching the lot.

@glowwurm9365 2 года назад

Brother I’ve stumbled across your channel, and you represent my thought processes perfectly. The system is broken, it’s limping along at the moment but this can’t and won’t be allowed to continue, at some point it will cause social upheaval!

@48khz24bit 17 дней назад

3 years later and Gary called it spot on

@ldn876 2 года назад

He said cost of living crisis. Visionary 👀😳

@reghand3276 Год назад

I'm beginning to understand the system better, thanks to your excellent videos Gary. Is there a chronology of all your videos so I can watch them progressively? Thanks

@RobinHarris-nf4yv 3 месяца назад

He literally said the words “cost of living crisis” and inflation could be up around 5-6% He said that 3 years ago. Wow.

@gayaa6490 3 года назад

Another edifying video, thank you! :)

@icrlp0570 3 года назад

great stuff - very clear

@garyseconomics 2 года назад

Unusually sensible comment from you mate

@michaelcorrigan4625 Год назад

Listening through your RU-vid channel. Spot on!

@Nyny.1000 Год назад

Coming from the future where the inflationary shock is currently happening 😢

@garyseconomics Год назад

If only more people had listened at the time.....

@skippy6462 Год назад

Looking forward to more. And what should we prepare for?.

@HistoritorJimaldus Год назад

MMT as a descriptor is 100% correct, all state spending is with newly-created money

@Noallegiance Год назад

As is every time anyone signs for a loan, mortgage and credit card.

@hop9920 3 года назад

Top man

@alexanderthornton8622 2 года назад

proven so right

@garyseconomics 2 года назад

Thanks Geeza

@chocolatesugar4434 Год назад

I just left a comment on LBC’s channel saying they need to get you on there!!! Then I just seen this in my suggestions 🤦🏾‍♀️ . Still they should have you on as a regular imo 😌

@nigelmaloney2337 Год назад

Gary thank you. You opened my eyes up always working to keep my head above water never knowing been held down

@cai1000 3 года назад

this was awesome information

@garyseconomics 3 года назад

Thanks boss!

@HopeIsFleeting Год назад

@GarysEconomics Can you please give your opinion on MMT and why it would/wouldn't work?

@joescully566 4 месяца назад

Thanks again Gary,

@neilwhitehead166 6 месяцев назад

Amazing predictions and how right you have been!

@garyseconomics 6 месяцев назад

It's always good to have someone go back and check the historic predictions

@pedrofussell5402 Год назад

Quite frightening listening to this 2 years later, keep raising awareness Gary, I keep repeating all you say to my friends and colleagues and feel like a bit of a fraud as I’m nicking your lines😂

@bevrek 3 года назад

That was quick, nice one pal. I hope this is just the beginning. There's so much of this I'm not following. Like, what is the purpose of the bank of England? Can this borrowing go on forever? Is it borrowing if you don't have to pay it back? It's all sounding mental. What's needed here, is a GarysEconomics step by step, guide to, er,, economics for the average bod. Do you fancy some of that? It's needed. All the best. Just one thing, I think GaryEconomics sounds better.

@pencilme1n 5 месяцев назад

Why should we pay back the govt debt? The central bank simply printed/typed it into a ledger. It's counterfeit money that devalues the existing supply. The central banks own the governments not the other way round.

@Lorito78 11 месяцев назад

still binging, might have to turn down on the beer to keep up

@OnlineEnglish-wl5rp 4 месяца назад

Honestly, the lies we've had to listen to all these years about "a nation's finances are like a household budget"... Shameless

@ac4486 3 года назад

Host: *shit he's talking about wealthy people winning from this, move the convo on*

@AlbertoGarcia-wd7sc Год назад

The so called "government debt" is the "public assets". FFS, people needs to understand how fiat money works, where does it come from. You control the UK currency. The "government debt" could disappear tomorrow with a single keystroke.

@derekmcnulty6883 Год назад

Government "Borrowing" is not the same as normal borrowing, as the creator of pounds out of thin air, the government doesnt NEED to borrow from anywhere, the government might normally issue bonds equivalent to the amount of pounds created (this is often called borrowing), is a carry over of the gold standard, this bond issuance is not a necessary step, but the government does it anyway, like socialism for the already wealthy, as the bonds offer interest.

@GreenLarsen 2 года назад

@sueharper581 3 года назад

Sorry Gary doh! Not steve

@garyseconomics 3 года назад

Hahah yes I was wondering who Steve was. I think austerity is largely a conservative ideological project, but it's worth realising that this "spend as much as you want by printing money" strategy does also cause problems such as rocketing inequality and house prices. Hope that helps!

@40yearoldvirgil15 Год назад

Is that true you don't have to pay it back nor pay interest on it?

@Noallegiance Год назад

@garethbusby438 Год назад

The debt will sit but you don’t have to pay it back. You could pay interest, but as it’s the countries own money it’s argued that you need to. You can guess which option our government are doing.

@gordonsim3480 3 года назад

Suggest you read Modern Monetary Theory ( MMT ) this is similar to a "Ponzi Scheme". The UK is a Sovereign Currency Provider, I dont think your man really understands !.

@sandworm9528 2 месяца назад

You need to reread MMT, the central thesis is that what matters is *resources* not fiat money. Gary is making the point that the proportion of resources and assets owned by the rich is increasing and this concentration will kill the economy.