video UK · 22 August 2020

I made millions from the financial crisis, Trust me the system is broken. Gary on AE Podcast

Gary Stevenson, a former city trader who profited from the 2008 financial crisis by predicting asset price inflation due to state support, now warns of a broken economic system. He argues that the current model, exacerbated by the pandemic, disproportionately benefits capital over labour, leading to a "wealth heist" and an even greater economic collapse.

By Gary Stevenson

Mentions Jeremy Corbyn, George Osborne, Bill Gates, Thomas Piketty

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Arguments in this video

Costly to administer Gary Stevenson · 40:26
“it's not going to be easy to do it needs to be well planned and well designed and it might even require some degree of international cooperation”
Rewards productive investment Gary Stevenson · 18:46
“I don't think it's right me just sitting here making money on the world being terrible”
High costs already force working families to sell Gary Stevenson · 30:16
“if house prices double again... what does that mean for families that don't own housing now it basically means they will never ever own housing”
Curbs extreme inequality Gary Stevenson · 12:38
“I developed these theories that inequality is much more important than most economists to realize, which means that because we're not addressing inequality the ”
Raises real revenue Gary Stevenson · 40:22
“what i'm pushing for at the moment is a wealth tax on very wealthy individuals”
Spending rises as living standards fall Gary Stevenson · 18:40
“it leads to low wages unaffordable housing lower living conditions and that's what i think happens if you have very high inequality”