Tag Archives: rich

What really caused the inflation crisis? Here’s Gary to explain why rich people have your money

The real cause of inflation: the super-rich sucked up government cash that was given out to keep working- and middle-class people alive during the Covid crisis – by being the providers of the services and supplies everybody else needed. But that was a crisis and it should be time to normalise the situation. Why won’t politicians do it?

According to Gary Stevenson, governments like those in the UK and US caused the post-Covid inflation crisis by giving away thousands of pounds to keep us all going when the economy was locked down.

The problem was that those of us who normally work for a living had to then use that money to pay our bills (that’s not including This Writer; I just carried on writing Vox Political all the way through and lived on the money I earned from it, plus savings – those were happier days) while the rich, who issue the bills that we have to pay, just sucked up all the cash.

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They then started using that cash to buy what they could – not luxury items, because they were forbidden from doing it due to the shutdown of the economy, but so-called economic assets like houses. This stopped the rest of us from being able to buy them by keeping prices high – as Gary has discussed in previous clips.

Notice: he doesn’t say there was anything wrong with governments spending the money in the way they did; people needed cash to survive and it was inevitable that providing it to them from the Treasury, rather than the economy, would increase the national debt and massively increase wealth inequality between the poor who spent the cash and the rich who received it.

But because the circumstances were extraordinary, and the result was an unbalanced economy (increased inequality), the government should then have taken action to re-balance the economy by using the levers available to it to re-distribute the wealth.

It should have taxed the money back off the rich. Logically, the government could have got away with calling it a windfall tax because that’s what it would have been.

That hasn’t happened.

And neither of the ‘Big Two’ political parties – Labour and the Conservatives – are even considering such a rebalancing of the economy. Instead, they are both planning to bake it into our lives for a long time to come.

So we can say that Labour and the Tories both intend to increase wealth for the richest and poverty and debt for everybody else – and that includes those of you who are middle-class, sitting there smugly thinking you’ll be all right (you won’t).

There’s only one answer, but This Writer doubts many people will take it up.

You have to think for yourself.

That’s right; you have to get details of the political plans of every candidate standing in your constituency in the general election and you have to work out which of them – if any – intend to re-balance the economy to prevent us all falling into this debt trap.

How do you fancy that?

And politicians? Here’s a challenge for you:

Are you going to produce manifesto commitments to tax the money back off the super-rich – who don’t need it, remember – and re-balance the economy or are you too scared of them to dare upsetting them?


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How money goes from the poor to the rich – Gary’s Economics

Rent, profit and interest are all the same, according to economist Gary Stevenson.

Not literally – they work in different ways – but they are all payments from poor people to rich people.

Here’s Gary to explain:

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So you have to pay money to the owners of the resources, in all three situations – you have to work for that money, in order to let these people have it for no effort. They can then use the money to buy more assets.

We know that those of us who pay mortgages are only able to do it later in life, because it takes longer to accumulate the money to even think about a down-payment. This means that, by the time we’re 40, whereas our grandparents may have been nearly finished paying off their mortgage, and our parents around halfway through, we might have just started paying – and the amount we’re paying is more, plus interest.

This feeds in to Gary’s claim that each generation is getting progressively poorer than the last.

You can read more about that here.


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The UK has Covid-19 hotspots again – but who has been catching the JN.1 variant?

Rampant again: the Covid-19 virus is once again on the loose across the UK – apparently because of ‘festive socialising’. But who could afford to contract the disease by raving it up in a UK where only the super-rich have money to spare?

How many people in the UK have died of the JN.1 variant of Covid-19?

The article referenced below says 10,000 people across the world died of it in December 2023, but that is not useful to those of us who want to follow national trends.

Apparently no information on UK deaths is publicly available.

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Instead we get this:

Two regions of the UK have seen cases of Covid shoot up over the past week, making them the leading hotspots for the virus.

The South East topped the table with 1,237 new cases over the past seven days, which equates to 13.4 people per 100,000 of the population. London trailed a close second with 1,032 new infections. The region to have avoided the worst of the cases is the North East, which only registered 194 over the past week.

Experts fear that JN.1, which is thought to have rocketed in numbers due to festive socialising, could reach record levels in the UK in a matter of weeks if cases continue to rise.

This Writer would also like to see a demographic breakdown of which social groups contracted the disease due to “festive socialising”.

Here in Mid Wales, the pubs were practically empty for most of the Christmas and New Year period because people didn’t have the money to spend after coughing up for presents and groceries and covering the normal day-to-day cost of living that has skyrocketed under the Tories.

I’m willing to bet that the new generation of sufferers are the richest people in society who could afford to go out. The evidence that the South East and London are the current Covid hotspots tends to support this.

If they are now spreading it to the rest of us, it will be because they are too stupid to realise they need to isolate themselves until they are better.

So much for private education, eh?

Source: Covid hotspots in UK confirmed after rise in JN.1 variant – 10 areas with most cases


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If rich people can profit from huge crises, why can’t the rest of us?

House prices: they’re high, despite interest rates also being high, because rich people have been given huge amounts of money by the UK’s Tory government. They’re using it to buy assets.

Gary Stevenson’s latest video discusses the reasons for house prices staying high even though interest rates have been high also. TL:DR – It’s because rich people have lots of cash to splash around.

The question raised in This Writer’s mind is: if rich people can take advantage of the crises we’ve suffered over the last few years to get richer, how can the rest of us manipulate events to make ourselves richer too?

There has to be a way, don’t you think?

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Here’s the video:


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Millions on Universal Credit may lose hundreds of pounds as Rishi Sunak threatens cut | Mirror Online

Rishi Sunak: he likes money but he doesn’t understand it. By giving benefit money to the rich in tax cuts, he is cutting away the foundations of the UK’s economy. How will you be able to afford anything?

Once again, the Tories are threatening defenceless benefit claimants in their endless campaign to bribe donation money from rich benefactors.

That’s about the size of this, isn’t it?

Sunak has already threatened people with long-term illnesses and disabilities with changes that are intended to get a million of them off the benefit books – or at least onto the jobs market.

More people looking for work relieves pressure on employers to increase wages, because jobseekers will undercut each other in their desperation – and I use that word advisedly – to get a regular wage packet.

Now Sunak is threatening more than six million Universal Credit claimants – most of whom are in work – with an effective cut in payments if he decides to make the annual benefit increase next April lower than the rate of inflation.

The apparent reason is to fund another tax cut for the very richest, in time for the next general election; he’s buying support where he wants it by harming those he doesn’t ever expect to help him.

Here’s the Mirror:

the Prime Minister refused to commit to inflation-proof benefit rises next year, arguing that payments had already gone up by a “huge amount”.

For clarity, it doesn’t matter how much payments have already increased. Inflation is always a measure of how fast prices are rising. If the inflation rate slows, prices are still rising, only more slowly. Increasing benefits at a rate lower than inflation means millions of working people and benefit claimants will not be able to afford basic necessities.

Chancellor Jeremy Hunt is thought to be considering a real-terms cut this autumn. Payments usually rise each April by the inflation figure of the previous September – expected to be 6.9%. But the Government is looking at a lower figure, leaving 6.1 million on UC worse off.

A rise 1% below inflation would result in a low-income working couple with two children losing £220. Asked if he could guarantee benefits continue to rise with inflation, Mr Sunak declined but insisted he would “make sure we look after the most vulnerable”.

That has to be a lie; Sunak has already attacked “the most vulnerable” with his plan to push long-term sick and disabled people off benefits.

Be in no doubt: this is an attack on you.

The fear is that, by buying support from the rich, Sunak will be able to rely on their influence to persuade – or coerce – you or people like you into supporting yet another godawful Tory election win.

Source: Millions on Universal Credit to lose hundreds of pounds as Rishi Sunak threatens cut – Mirror Online


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If the asset-rich leave the UK, they can still be taxed. Here’s the reason why

Once again, Gary Stevenson proves he’s worth his weight in gold:

So people with accumulated wealth earn huge amounts of passive income from it – and this should be taxed to prevent them from using it to buy all the other assets available and driving the rest of us into poverty.

If these people leave the country – as is often threatened – then it won’t make a difference because the income they gain from their wealth can be taxed here in the UK; the reason they say they will leave won’t stop happening if they do.

And this is part of a larger argument that taxing the asset-rich more may make it possible to tax the income-rich less – so high-earning working people who have threatened to leave the country in the past, over tax, may end up with no reason to do so.

(Remember back in the 1980s, when Phil Collins kept threatening to leave the UK if it elected a Labour government?)

So refusing to tax the wealthy on the riches that come from their assets that are fixed in the UK is a political choice by the richest man in the UK (Rishi Sunak), that is supported by a lie.


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Cynical Liz Truss defends helping the rich rather than the poor – but nobody’s fooled

If Liz Truss thinks she’s fooling anybody, she is heading for a nasty awakening!

In a BBC interview, she was asked if she was on the side of bankers or the rest of us – and avoided answering.

Everybody knows this means she is on the side of the bankers and the rich – and her approach shows us that she cannot be trusted.

Watch the clip:

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Is the UK really the world’s fifth-richest country if its poorest people are destitute?

Wasn’t it Jeremy Corbyn who said the best way to gauge a nation’s wealth isn’t to measure the fortunes of the richest but to check on the well-being of the poorest?

By the former standard, the UK is in fact among the top three countries; by the latter, it is doing very badly indeed. By contrast, Norway is higher than us from the top percentile to the bottom.

If you’re in the UK and have the average income, then by comparison with average incomes across the world, this is only the 12th richest country.

Sadly, this information has been made available only in a newspaper that is aimed at and read by the very wealthy; they get the facts. The rest of us get propaganda from the BBC and the mass media moguls.

You are being conned every which way.

Here’s the video clip that inspired the above:

Bear it in mind:

If you’re in hardship now, you’d be better-off in Slovenia.

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Rishi Sunak admits taking money away from deprived urban areas and giving it to the well-off

Rishi Sunak: he has admitted that, as Chancellor, he diverted cash away from people who desperately needed it and into affluent areas.

Wow. This is a blunder and a half, isn’t it?

Sunak was saying that a funding formula developed by the Blair/Brown Labour governments had prioritised deprived urban areas over affluent rural conurbations.

His argument was that he had restored the proper balance, giving the rich back the funding they deserved.

But of course this is nonsense. The point of the ‘Levelling-up’ policy on which the Conservatives won the 2019 general election is to redistribute national funds to the places that most deserve them – such as deprived urban areas – rather than leaving them with the well-off.

In fact, that’s the point of any form of taxation.

Now this video has emerged, serious questions are being asked about the suitability of this man to have been involved in any form of government at all, let alone holding the highest office in the land.

Labour has written to Levelling Up Secretary Greg Clark asking him to “urgently investigate” the changes made by Mr Sunak to funding formulas.

And spokespeople for leadership rival Liz Truss have been quick to capitalise on the howler, saying ‘Levelling-up’ is not about laying dividing lines between one area of the country and another.

Sadly, in an election that is to be decided entirely by members of the Conservative Party, a candidate who prioritises the rich is probably extremely attractive.

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

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Starmer runs out of credibility – and cash – and runs to the rich as Labour supporters run away

Another chance missed: Keir Starmer’s Marr Show letdown was the first of two broadcasting balls-ups for the Neoliberal Democrat Labour leader last week. His party is losing members because the people won’t support him – so he’s running to the rich.

It should have been a cakewalk.

Boris Johnson’s Conservatives have screwed up the United Kingdom in the worst possible ways since before the December 2019 election. The leader of the main Opposition party should have had hearts and minds of the public, there for the taking.

But the leader in question was Keir Starmer, currently in charge of the Other Conservative Party, currently masquerading under the misnomer ‘Labour Party’.

When he gave his interview to Andrew Marr, the representative example of the public on Channel 4’s Gogglebox took a look – and the verdict was damning:

One doesn’t have to imagine how Starmer responded to this; in fact, one imagines this parody account has come close to the truth:

Result: well, party membership was haemorrhaging already but that flood hasn’t abated!

As a result, it seems Starmer’s cash is running out. How ironic that, now the party has been re-taken by the wing that reckons it’s better with money than the Left, it has spaffed all the extra cash accrued by the Left-wing leader up the wall.

So, in order to get money, it appears Starmer has copied the Tories again:

Think of the Conservative Party’s annual Black and White Ball fundraiser.

Of course, this information comes from Gabriel Pogrund*, who I wouldn’t normally trust to tell me what the weather’s like, but as there appears to be documentary evidence of this, I’ll give him the benefit of the doubt.

Starmer has also sent personalised letters to lapsed party donors:

This Writer hopes Starmer fails to attract the cash.

Firstly, if he does get it, he’ll finish Labour:

Moreover: His version of New Labour is nowhere near as investible as Tony Blair’s; he has made too many public relations blunders (again, he’s like the Tories in that respect). The Andrew Marr/Gogglebox incident is only the latest.

And if the rich donors don’t come back, they won’t be able to give Starmer any more excuses to steer Labour even further into Toryism.

Then who will Starmer ask for help?

That’s why, while This Writer can’t go back there (at least, not at the moment), I tend to agree with the following:

Monitor this situation closely. There may yet be a chance to bring democracy back to the UK.

*Pogrund wrote a story about This Writer in The Sunday Times that was riddled with falsehoods, for which that newspaper was forced to publish a lengthy “correction and clarification” almost a year later (it took me that long to go through the IPSO complaints process).

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

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