Captain Darling, Nate, and Dan analyze Ireland's "powder keg" protests over immigration and fuel prices, criticizing the government's heavy-handed military response and insufficient aid. They contrast this with Johnny Somali's six-month hard labor sentence in South Korea for deepfakes and public disturbances, highlighting stricter Asian justice versus Western leniency. The hosts then dissect the UK housing crisis, where home prices now require eight times median earnings compared to 3.5 in 1995, trapping youth in unaffordable flats while the triple-lock pension drains state budgets. Ultimately, this generational wealth transfer fuels demographic collapse and mass emigration as young people reject a system designed to benefit the elderly. [Automatically generated summary]
Transcriber: CohereLabs/cohere-transcribe-03-2026, sat-12l-sm, and large-v3-turbo
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Ireland's Endless Protests00:09:19
Hello, and welcome to the podcast of the Load Seaters, episode 1397 for Wednesday, the 15th of April, 2026.
I'm your host, Captain Darling, joined today by Nate and Dan.
Hello.
How are you both today?
Good.
Wonderful.
Well, today we're going to be talking all about Ireland's endless protests because they've been in the news for over a week now, and it is one long consecutive protest.
And you know what?
Seems to be pretty damn effective.
From what I can tell, we're also then going to talk about Johnny Somali going to jail.
I don't know who that is, but it sounds like a good news story.
Yeah.
Oh, so sweet.
Always bring black pills, guys.
Right.
Love this one.
Perhaps we should have jigged those segments around then, because then we're going to end on the ultimate white pill, which is the growing generational unfairness.
Yes.
I've decided that young people have it rough.
Okay.
And I won't stand for it any longer.
No.
All right.
Well, before we get into it, ladies and gentlemen, I just want to let you know new Chronicles out, obviously, every Saturday.
This time, the first in the multiple part that I'm going to be doing was Stelios talking all about the legendary tale of Jason and the Argonauts.
Obviously, you have the classic Harryhausen film from the 1960s.
Legendary.
Yeah, we've had a look at Apollonius of Rhodes' telling of it.
He was one of the royal librarians for the Great Library of Alexandria.
And so, pretty educated man.
And he does a wonderful job of the tale.
And if you're interested in this epic myth, go and check out Chronicles.
£5 a month for all the premium content on the website.
And let's get into it.
All right, then.
So, though this segment isn't actually chiefly about immigration, I do think we need to consider the fact that, look, tensions in Ireland are growing month on month, year on year, right?
It is becoming, I don't want to sound sensationalist, but you can feel it is becoming something of a powder keg.
Santana.
Yeah.
So, this isn't about immigration, it's about the protests.
Which are about immigration?
Immigration is part of the concern of the process.
What else are they concerned about?
Also, fuel.
Fuel prices is the largest one because, even I suppose, those households across Ireland that haven't been reached yet somehow by the over a million foreigners who have arrived in Ireland recently, they do still have cars and fuel prices do affect them.
And so, in a way, it's allowed for, I think, a lot of the normie Irish public.
To be galvanized by this movement in a way that the mainstream establishment can't really throw anything at them and be like, I mean, to be honest with you, we'll see that people have tried that and we'll get to it.
But nonetheless, there are still protests going on about immigration, and I imagine that many of the protests.
And you said there's been a million immigration to Ireland?
There has been an unprecedented level.
They basically have their own Boris place.
They're screwed.
But they only started with 4 million people.
Well, maybe it's not a million, but it's an unprecedented number for I think about 10% of their population grew as a result of an enormous wave of immigration.
So let's just talk about the fuel protests as well, then.
Because, first of all, obviously, as we're all aware, from the war with Iran between America and Israel and Iran, of course, this has disrupted the global oil trade.
And obviously, the Straits of Amur, this affects basically 20 to 30%.
Of the global trade of oil, and this has increased the cost of diesel per litre by about 30 percent.
Now, though there seemed to have been something of a ceasefire, uh, and I use that word very, very frivolously, um, agreed just last week, the effects of this basically didn't really reach Ireland.
Can I offer some words of comfort to Ireland?
Go for it.
The stuff coming out the Strait of Hormuz takes a couple of months to filter into the market because of the lead time.
Yes, first of all, you've got to get it there, and then you've got to process it.
So, if you think it's bad now, don't worry.
It's going to be so much worse in three weeks' time when it actually works the lag through the system.
There you are.
How reassuring.
Yes.
Thank you, Dan.
So, as this Substack here goes on to say, protests started on Irish roads from the 7th of April, expanding from Dublin to other areas of Ireland with either slow moving or stationary trucks, tractors, and other vehicles.
Ambulances and fire engines operated a reduced service for essential emergencies only as a result of traffic disruptions and fuel shortages.
Farmers have been very clear about the consequences of higher fuel costs affecting the growing crop.
Growing of crops and the distribution of produce to shops and supermarkets by road, carrying placards with the slogan, No Farms, No Food.
Farmers marched in Dublin, Cork, Galway, and Limerick, and other cities, to raise awareness of how increased petrol and diesel prices affect the running tractors, the delivery vans, and ultimately the prices and availability of food to consumers.
And of course, this is to mention as well, in addition to the problem of the effect that oil is having on farming and agriculture as well.
With the increased population size via immigration into Ireland as well, that means that in addition to problems with growing the produce and having to rely more on imports into the country, you have more mouths to feed in the country as well.
I mean, Ireland's done exactly what we've done, basically, but they've speed run it.
Yeah.
So they've done a form of speed running.
So they import the majority of their food now.
There's basically no farmers there at all.
There are farmers, obviously, I'm not suggesting there isn't, but it's exponentially increased.
And I don't know if you've got this in here, but they're suffering exactly what we've suffered recently because they've imported loads of people and then their welfare bill is higher than their income tax.
So Ireland is screwed, basically.
This is kind of like their last ditch effort.
We don't think they're going to have another potato famine, do we?
Because, I mean, I don't want to be unkind, but they've only just shut up about the last one.
Well, to be honest with you, I think they'd certainly, from the perspective of the Irish government, they'd be less bothered by it because it wasn't the English aren't implicated in it.
Oh, okay.
And the English aren't the only foreigners that the Irish government have a problem with.
Other than that, they're more than happy to welcome every Tom, Dick, and Harry into the country.
The problem is they're not English.
Only I suggest the names probably aren't Tom, Dick, and Harry.
Right.
So, in fact, I can, as it goes on to say, in fact, I can personally vouch for the fact that as of Wednesday the 8th, Of April, I saw many supermarket shelves being half empty as that day's delivery didn't arrive.
Talking about food security, Ireland is quite exposed to the risk, as you go on to say, Nate.
And by the 8th of April, half of the supply of fuel across Ireland had been locked because of the protests.
And so this is where we get into the other aspects of it.
And I just thought we'd go through some of the, you can see some more footage here in the thread by Michael O'Keefe, where you just see the amount of people.
Turning out to this, I'll just mute it as we go on.
But I would just say with this, because this is almost turned into a bit of an annual thing now, right?
Every year Brussels gets besieged, and you know, all of the everyone comes in and they pack it out, and you can't move anywhere, everything gets shut down.
And then the EU says, Oh, well, we'll do this, and everyone goes, Oh, okay.
And it all just disperses and everything goes away, and it all goes back to normal.
It's a momentary pause on that pressure cooker.
Right.
The pressure cooker is still there, it's still going to bubble over.
Any amount of sort of momentary placating that they're trying to do.
And I mean, it's not even really.
They're not placating anyone because what people actually want is everyone to bloody go home, right?
Yeah.
They want these ridiculous taxes to go, which would, by proxy, you'd be able to do when mass remigration occurs because you wouldn't have to fund the third world, right?
But no, Like, I'm sure you'll get to it.
They had like a tiny little scrap that they threw to people.
Yeah.
People were still like.
Nah.
Well, it's just not persuasive, is it?
It's nonsense.
It's just not.
And also, as well, the Irish public have very much got the flavour for the loyalties of the Irish government at this point, as well.
So let's just go on to this as well.
So, as a journal reports here, apparently this was going around on WhatsApp where they were evoking the Easter Rising in some of the WhatsApp groups.
And it goes on to say, we are going to put a gun to the government's head.
Paramilitary Loyalties in Ireland00:09:39
And there are going to be major protests, says James Geoghegan.
Sorry, I've definitely mispronounced Geoghegan.
Just don't try.
No.
His name is James.
James G. James.
Good name, James.
James G. Very pronounceable.
The man.
Only messing.
The man who was emerged as one of the fuel price protest leaders has said on TikTok, and this was back on the 29th of March.
On Thursday, Justice Minister Jim O'Callaghan suggested that those partaking in blockades.
Blockages and protests have been manipulated by outside agitators like far right British figure Tommy Robinson.
Though, as the journal themselves have to admit, social media and the messages inside WhatsApp groups, however, strongly suggest that this is not the case and point towards grassroots organising, including in person meetings and online communication.
So they've just had to concede no, this is not outside agitation.
This is entirely organic and it is just a total, you know.
People are sick of the status quo.
You know what's fascinating to me is they instantly go to Tommy Robinson.
Of all people.
Yeah, literally of all people.
And then you've, I don't know why, but his name escapes me.
Who's the notorious MMA guy?
What's his name?
Conor McGregor.
Right.
And yet you've got him tweeting like a madman about all this.
He even liked one of my posts, actually.
Oh, yeah.
But I know, we'll just blame Tommy Robinson.
It's like, mate, Conor McGregor is literally calling for people to go up and do, like, you know, things.
Oh, yeah, just some things.
Yeah, but Tommy Robinson.
Shut up.
Why did he scrap his presidential run?
McGregor.
Yeah.
Well, I don't know, actually.
I didn't know he had, to be fair.
I didn't pay that much attention to it.
Yeah, to be honest, I'd never personally looked at Conor McGregor in terms of, like, his road to, like, political presidentship.
I just see him as a man who.
Has a wide reaching voice throughout Ireland and that, you know, commands when he speaks, a lot of the Irish people listen to him.
And so, in that sense, he is very good at keeping the vitality.
He's a bit of an avatar, isn't he?
Yeah, of these sorts of things going.
You see here, Michael Martin says the protests at the moment are wrong and not conducive to cohesion within our society, which I imagine would be a much stronger spin if the Irish government hadn't spent the past decade just basically deconstructing Irish society.
Yeah.
We also found this remarkable one here from apparently what I suppose for YouTube purposes, I will just refer to as a speaker from the traveler community here, talking about how the protests were overtook by the far right.
And this guy here is saying that the woman has never won an election, cannot string a basic sentence together.
So, from what I saw of it, she basically got, because of her background, she basically got given a position.
But I mean, also her reasoning for why it's far right.
Is because it has the Irish tricolour on it?
Yeah, she goes on to say, I would be weary of going, being involved with any protest that has the national flag.
Is the definition of far right now anybody who uses their own country's flag?
Yes.
Right.
Yeah, apparently so, yeah.
Yeah, definitely.
But obviously, the wider point in this is just to say, oh, well, if I get to call them this thing, then these people aren't entitled to political representation.
They're not people with children and lives and dreams who have anxieties when they wake up every day and see what we're doing to their country.
No, no, none of that.
They just, they, They're not even worth listening to.
Well, how's that working out for you, Eileen?
You can see here as well, all of the.
Cheers, mate.
I'm glad you did that.
So you can see all the.
Mayor a week.
Yeah, many buses were put to a standstill in Dublin as well.
But one of the things that I wanted to say was that although this doesn't seem to have been an entirely coordinated movement, like there's no one leader of this and it's all like top down, there are definitely a lot of local groups that have been organising, that have been co-organising.
Collaborating with one another.
And actually, what we see as we go through this is a very, very effective and I would dare say precise plan for how to actually get what they want.
As I say, more than what you get with Brussels every time, where they just kind of like surround it for a bit and then go home, which is that they're actually hitting a lot of the pressure points of the Irish economy.
Yes, key infrastructure that they began to.
But again, it's still really, really peaceful.
Yeah.
It's just more occupying.
The thing about this is, and I don't know if you're going to get to it, so I don't want to sort of supersede, but some of the nonsense that the political classes were speaking about this was just mental.
Like, oh, it's not this, it's not that, it's wrong, you can't do this, you can't do that.
Because you can't ignore it, that's why.
We're happy for you to protest if it's just over there and out the way.
Yeah, well, it's not bothering us.
Yeah, we don't actually have to do anything about it.
No, no, you want to shut up and listen.
Yeah.
Because this stuff, again, is still the mild approach.
Mm hmm.
Like, it's insane to me that Ireland, within living memory, had like paramilitary groups and things like that.
And they hate, notoriously hate authoritarianism.
And then the Irish government were like, you know what we're going to do?
We're going to be really authoritarian.
It's like, what do you think is going to happen?
What do you actually think is going to happen?
Mental.
Exactly.
So we can see here from this video, I'll just play this one as well.
Them at White Gate, where that's one of the refineries.
Yes, yeah, sorry, I was just about to say where one of the refineries are, and you can tell that.
I mean, I don't know about you, I'd say that's a damn good turnout, to be honest with you.
It's pretty effective, and you can see here them at the refinery again and them being dragged by the authorities.
They've been really violent as well.
The Garda have been incredibly heavy handed with them.
Yeah.
Like kicking them, punching them, pulling them down, tasing them.
They've been really, really, really violent.
Yeah, yeah, I've seen some.
And that's only led further, only caused further fuel to sort of anger from the Irish people.
Absolutely.
And as well as the fact that the government also decided to deploy the army in order to remove a lot of the.
Which definitely speaks to a government in control of the situation, not panicking at all.
Well, they did.
And then they also, I can't remember what they call it, but there's a special big truck that they've got.
And they just got it jammed under like a bridge or something like that.
Was it a paddy wagon?
No, it was like it was some big military vehicle, but basically they drove it down somewhere and they just got it stuck.
It's like, yeah, wow.
Okay, that's 6,000 strong military, which the Irish people laugh at.
The Irish people, I don't want to speak on behalf of them, but I know Irish, I've got some Irish friends, and they're like, yeah, our military is a clown show.
Like, why do we even have it?
What a waste of time.
Everyone's just like, what are you doing here?
I can think of one thing the military could do.
Woo!
Anyway, police pepper spray.
It goes on to say in this article by Politico Police pepper spray protesters Saturday as soldiers deployed heavy lifting equipment to remove trucks and tractors that have been blockading, blocking access to Ireland's only oil refinery.
Irish security forces launched a crackdown outside the Whitegate refinery in County Cork, the country's primary hub for petrol and diesel.
After several hundred fuel stations nationwide ran dry, Amid panic buying, farmers and haulers have been blocking tankers from entering or leaving the White Gate plant since Wednesday in protest against the surging price of motor fuel.
They're demanding that the government slash its taxes on fuel, which account for more than 60% of the retail price.
Fuels for Ireland, which represents distributors and filling stations, said about 600 of Ireland's 1,500 gas stations nationwide are already run out of supplies.
So over a third of the petrol stations in Ireland.
Right.
Well, in three weeks, when it actually filters through, you can see what that's going to look like.
Right.
And so you can tell this is actually working.
This is something that is absolutely unignorable, that the government cannot simply shy away from.
The protesters have also been preventing.
Fuel tankers from entering or leaving two of the county's other key ports for importing oil in Galway and Foynes in County Limerick, reflecting that gridlock, a Dutch tanker carrying six million litres of fuel has been kept idling in Galway Bay since Thursday because fuel tanks in the ports there are already full.
And so basically, the people have had control of the refinery and of the port.
And I've got footage of that here as well.
And you can see again just more confrontations with the local authorities.
But just look at the palisades here and the actual medieval barricades from a Mott and Bailey they've got going here.
It was really impressive what they were all able to do.
Thousands Demand New Government00:09:28
Things you're not supposed to have societal breakdown like this in a democracy.
This sort of thing used to be very, very common.
Before you had sort of had mass democracy.
Yes.
And then the idea was that you didn't have to do all of that stuff because you just vote for what you want.
Yeah, you'd elect someone to actually do what you want.
Yeah.
But they're not.
Yes.
They're in hock to someone else.
So we just recreated the old sort of aristocracy system and people are just going to go, well, voting doesn't matter.
I'm going to have to go back to the old fashioned way of doing things, which is to get kinetic.
And I suppose on that point as well about democracy, I would have thought as well that the Irish would have been particularly loyal.
To the idea of the consent of the Irish people and sovereignty in their own homeland, seeing as that is essentially, I mean, I don't want to dumb it down or anything, but that is kind of the last 900 years of their existence.
Yes.
And so it is quite a shame to see the Irish government just behaving like every other Quisling globalist government in Europe.
When it comes to that, because of the uniqueness of their story.
Not, of course, I'm suggesting that the fate that the globalists have is fitting for any European nation at all.
So, yeah, the Irish government, as a result of this, have gone on to also, I mean, sorry, lost my sources a bit there.
But you can see as well, it goes on to say how they've been blocking roads as well throughout the country as well.
Dublin Airport also issued a warning to travelers to allow for time to get to their airport.
And so, this is basically.
There's not really a part of the country this hasn't affected, yeah, because it has been so well planned out, and so like they've covered a lot of things, you know, that would have been weak spots for them.
So, a very similar thing happened in Britain, and I think it was either 2000 or 2001 against the Blair government, where people started blockading fuel refineries and stuff like that because of high petrol prices.
And even back then, even under Blair, they said, Okay, well, we take the taxes off then.
And it's just fascinating that today.
Governments don't do that.
They're just like, okay, well, we're just going to send in the boys and just beat you then.
Well, that's easier than a reduction when, you know, your welfare bills or, you know, your aid packages are so incredibly expensive.
Well, the debt is double what it was in 2000.
So, I mean, there's such a reluctance to reduce any taxes.
You know that.
I'm preaching to the choir, aren't I?
It's easier just to send in people to beat the crap out of them, try and quell them rather than accept the fact that, you know, you have fundamentally destroyed everything.
And I suppose as well, there's a reluctance to give concessions to the Irish people when they know what radical energy waits on the other side of them.
Just to replace them.
Well, I agree.
So, anyway, after all of this, and after, sorry, as I said as well, this actually ended up spreading to Northern Ireland as well.
And when a crisis in the Republic leads to solidarity in the North, that's how you know you have a bit of a success on your hands.
And so the Irish Prime Minister announces 505 million euros in fuel cost measures after the day of protests.
So, yeah, exactly as you say, Nathan, it's just kind of like a bit of Gibbs then.
Nate.
Nate.
Sorry.
Jesus.
I don't know why I even said that.
I'm sorry.
May that never happen again.
Samson, delete it now.
Anyway, sorry.
The Irish government has announced this package in support for those quote unquote most impacted, which, again, a bit vague.
But it's also nothing.
If you look into it, it was like 10 cents.
Yeah, yeah, yeah.
I mean, it is literally nothing at all.
Yeah.
It's an atrocious concession.
All this is going to do, if anything, is buy the Irish government a bit more time, especially when the protesters have made their intention clear.
That this will just continue indefinitely so long as they can.
I don't know.
Have you also included the fact that they narrowly escaped the government collapsing by eight votes?
Well, yes, that's what I'm just about to round off with.
All right.
Sorry, I'm getting ahead.
Sorry.
That's all right.
That's all right.
Nate.
No problem, Nate.
Sorry about that, Nate.
Good.
Good lad.
So we can see here as well: thousands of Irish protesters outside the Irish government demanding a new one, which I think is a very sensible proposition, to be honest with you.
You can see them all here as well.
Because essentially, what happened was that because of the catastrophe that the protesters inflicted, there was a vote of no confidence in the government.
And as you say, unfortunately, they did seem to clinch it and they did have the numbers.
And though.
I think it was only eight, wasn't it?
It was only eight.
But the thing is, what people need to remember is protesting is an extension of the democratic process.
If the government's not listening to you, then yeah, get together and protest.
Like, grind everything to a halt.
Absolutely, 100%.
Why?
Like, why not?
You're just going to constantly be ignored.
Well, organize yourselves in a way by which you cannot be ignored at that point.
They will also be postponing an increase on the carbon tax and will be announcing a fuel subsidy scheme for farmers and fisheries.
Martin said groups with a self declared mandate have imposed blockades.
They have explicitly rejected the right of democratic representative groups to speak for them.
You see, that's the thing.
You didn't go through the proper channels.
Managing realism, yeah, how but it's just so it's like, oh, that this person's voice doesn't come from the official channel from this recognized institution, so therefore it's just null and void.
I'm like, sorry, it doesn't work like that.
These are still people whose vote, these are still livelihoods that you're ruining, yeah, and they and they matter no less than someone because they're a part of some representative group.
But also, in that you just read that subsidies, so still people's tax money, yeah, it's like, no, no, just cut the goddamn tax.
How about you just do that?
Find something to stop funding.
Yeah.
Don't subsidize, i.e., giving more of people's taxes away, which would then still have to come from them anyway.
It's not appropriate.
It's not what they ask for.
Yeah.
I'm all the way with this.
I think it's brilliant.
This was a great quote as well.
Nobody has the right to blockade our country.
Yes, they do.
It's their country.
Right.
It's their country.
They actually do.
Yeah.
Yeah.
100% they do.
Also, that's not true.
England has the right to blockade.
No.
The support package will see, as you say, a reduction on excise duties, and this will be a 10% reduction per litre, which, as you say, is really not going to stave off any of this whatsoever.
And the protesters have made it very clear that they intend to keep this up until they have satisfaction.
And even though Garda and the army did come in and basically uproot the blockades that they had of the port and the refinery, There's no reason to think why, once they've not been moved out again, the same thing isn't going to happen.
On Monday, this is kind of unverified.
This is just from a report that got handed to me because I've been covering some of this stuff.
Apparently, a certain amount of the guard had just called in sick on Monday because they were like, yeah, nah, like this is.
Because the anger is palpable.
Like, you want to watch the anger.
They're being called traitors.
Oh, they're worse than that.
Like, way worse than that.
You can see that you're on the precipice of a total.
Collapse at that point.
And yeah, a whole group of them apparently just called in sick.
They were like, no, yeah, no.
And this goes right to the government itself, where people just don't want to be seen to be complicit with what the government are doing.
And so the government is hemorrhaging support and credibility.
And, you know, for all of the Irish people who just went out there and did peacefully protest and did what was within your power to affect this change, I really commend you for it because it seems like.
For the most part, it was very sensible.
It was tactically sound.
And yeah, impressive stuff, Ireland.
Well played.
Right.
Okay.
Sigilstone says General Motors once developed a gas turbine engine that could run on anything, even alcohol.
The president of Mexico drove it fueled by tequila.
Bet that would be real handy for Ireland right now.
Well, if it was powered on Guinness, perhaps, yes.
Okador says Where was this authority when the new Irish were causing mischief?
Well, obviously, the government protects them.
It's actually the only constituency in Ireland they actually care about.
He also says Does this mean Rosie O'Donnell will come back to the US because the Irish are acting?
I mean, maybe I don't follow up with her.
I didn't even know she was in Ireland.
Yeah, because she fell out with Trump.
Genuinely.
Yeah, yeah, yeah.
Oh, that was one of the OG fallouts, wasn't it?
Mental.
And Captain Hook, JL for $5, thank you, says Also keep in mind the massive fuel taxes that exist in Ireland.
Many protesters at the beginning were simply asking for a lowering of taxes slightly given the current taxes.
Yeah, but.
It was a really reasonable request at the time.
It was so reasonable.
And they were just like, no.
So they were just like, well.
Truncheon time.
We're going to get mental then.
Fuel Taxes and Truncheon Time00:15:50
Yeah.
Sod you, I guess.
Oh, is it my turn?
Yeah, all right, then.
Tell us about this chap.
It sounds like a good news story.
Yes.
All right, so I normally bring a black pill.
I have brought something rather funny today, just by happenstance, right?
This is just the situation.
So, a genetic dead end, okay?
A walking pile of detritus, a facsimile molded out of organic matter.
I've seen the kind of excrement that is Johnny.
So, Smally, well, Johnny Somali, real name Ramsey Khalid Ishmael, has been jailed or will be jailed.
He's been sentenced to six months.
Wait, we'll get to some of that.
Six months in South Korea with hard labor.
Oh, and he's on the sex offenders registry.
Nice.
So, if you don't know who Johnny is, I don't.
No, I don't.
We're going to have a look at it.
I can't say I'm massively enamored with having to introduce you to who Johnny Somali is because he is, like I said, a genetic dead end.
Physiognomy on him, honestly, outrageous.
So, you know, I can't say I'm massively enamored with showing you this guy, but he's basically who he is an American streamer.
He's got a very American name.
Yeah, yeah, Minnesotan almost.
Yeah, one might say.
Basically, his whole shtick is just to go to various countries and be as obnoxious as possible.
Oh, I bet the wolf that.
Yeah, yeah, yeah, basically, yeah, yeah.
So.
And is he the only one of his kind who does this?
One of his kind will be.
He's not actually Somali, maybe.
I don't know.
He's actually not Somalian, believe it or not.
Oh, really?
Yeah.
So he is a cultural appropriator, too.
Yeah, I don't.
You'll see, he doesn't care about culture.
All right.
But basically, yeah, so his whole shtick is I'm going to go to various countries and just be as obnoxious as possible.
So he did it in Japan.
This is where he first sort of rose to prominence in Japan.
He was walking around on like the underground station and the tube stations and things and going up to people and going, Hiroshima, Nagasaki, you know, we're going to do it again.
I'm going to do it, you know, all this kind of stuff.
And it's just the most obnoxious crap you've ever seen in your life.
Now, to their somewhat discredit, and I like the Japanese people, but to their discredit, all they did was fine him and deport him.
Like permanently, like he's banned from the country.
I can't remember if it's this happened quite a while ago.
It was like two odd years ago now, maybe a little bit longer.
So I can't remember.
I don't think it was a permanent ban.
I know it was fined and he was, you know, deported from the country.
But I would have liked to have seen more.
Yeah.
You know, I would have liked to have seen more.
Then he went to Israel and caused a whole nuisance there.
Like he got punched up and was just generally a nuisance.
So then he left.
He left kind of off his own volition there.
And he's doing this for.
TikTok likes or something.
For like YouTube and Kik.
Right.
And all that kind of stuff.
And then he went to South Korea.
And this is where the story gets interesting.
All right.
South Koreans.
Yep.
Mate, you don't mess around.
South Koreans don't mess around.
So here's, I've got some videos of some of his most obnoxious things, right?
So this is probably one of the first things that drove people to get really annoyed with him for.
So these are the statues of peace for the comfort women, right?
Comfort women statues.
So for those that don't know, just real, real quick.
Japanese Empire, sort of imperialist.
They went to South Korea and they had some sex slaves, basically.
Pretty nasty stuff, obviously.
And South Korea has some statues to commemorate that awful atrocity, and it is an awful atrocity.
And he decided it would be appropriate to do this.
is pretty mental.
Right, okay.
So goes up, kisses it, and then starts.
Where is it?
Then comes back to another one and then starts doing this.
I mean, he is just the most obnoxious, gigantic turd you've ever seen in your life.
Brilliant.
Not one tangible benefit to humanity.
Yeah, I mean, he's a dysgenic freak.
Like I said, genetic dead end, right?
You see all this.
Look at him.
Absolute piece of crap.
So there was that, right?
So that's one thing that he did.
This one, I am sorry to show you this.
This is perhaps, it's up there with one of the most annoying things you'll see in your life.
You ever sort of just come across someone you're like, I'd really like to batter you in the face.
Like, I'd really like to beat the living crap out of you.
I'm familiar with the feeling.
Yeah.
There's very few people that cause that sort of tangible, burning desire within you to flatten them.
Hmm.
This guy, he's got it.
This is in a 7 Eleven.
Just a, yeah, yeah.
And watch what he's doing.
I can't play it because there's loud, loud, loud music.
Oh, there's always loud music.
Oh, yeah, of course.
Yeah, yeah.
Third worldisms.
Yes.
And then nice old ladies like, no, no, please don't drink.
Please don't drink.
No, no, you can't do that.
You're not allowed.
Yeah.
Okay.
Just generally being a nuisance.
This woman just has an ordinary job.
And he's just.
Watch.
Oh no, it gets worse.
It's making me quite hateful.
You want to, uh,.
What are you doing?
Just making a mess for that old woman to have to clean.
Oh, right, here we go.
Oh, my God.
Yeah.
Yeah.
So it just goes on like this, to be honest.
Right.
There's a little bit more.
We'll keep watching it.
To be honest, don't make a real sense.
We need to jail him.
We need to jail every one of his subscribers as well.
Oh, his subscribers are disgusting pieces of detritus as well.
Well, you'd have to be to find this appealing, wouldn't you?
Yeah, I don't really see how this is entertaining, to be honest.
And if you do, you've got problems.
It's like that guy from.
Who was going around London?
What was his name?
Mizzy or whatever?
Yeah.
He's back now doing the same stuff.
Oh, I bet he is.
Oh, God.
Somehow I never thought he was going to turn his life around.
And he's still shouting at people.
Yeah.
Literally just shouting.
I don't want to play it because it's loud music and stuff, but he's just, look.
I mean, you can get the flavour of it without even any noise.
I'm sorry, but I. He's just a piece of crap.
Someone, one person in there, you're just waiting for them to snap.
Yeah, and then this one.
So this was another one that he did.
There's loud music, just super, super loud music on a tube or a bus, sorry.
And then people start having a go at him.
I don't know if I can play this one.
No, it's still loud music.
I don't suppose he's got any Mozart on his playlist, has he?
But you can see people had enough and they got up.
Yeah.
So, but this was spiraling because, and then it began going around South Korea.
People were like, this is this guy.
Right, yeah, this guy.
It started getting around.
Yeah.
This guy's doing stuff, basically.
And it just sort of keeps going, keeps going, keeps going.
I'm just giving you a sort of flavor of who he is and what he was doing.
And then I think we can actually play this one in its entirety with sound.
I think you guys will quite enjoy this one.
Have a, trust me, Johnny's.
Have a great night.
Go to Johnny's, everyone have a good time.
Whoa!
Great night.
Sorry, if you didn't quite catch it, that's Johnny Somali getting decked.
Oh!
Hazard!
Play it again.
Yeah.
Sorry.
I should have pre warned you.
Trust me.
Johnny's.
Have a great night.
Go to Johnny's room and have a good time.
Oh!
But yes.
Great night.
Johnny's room and have a good time.
And again.
What?
From his own angle.
What's in the world?
Fucking guy.
So literally, the guy just walked up, cracks him while he just walks off.
It's like, yeah, no, we've had enough of you now.
I mean, on the other hand, good for South Korea.
But this thing isn't just a common everyday occurrence where you'd have to be decking 40 or 50 people a day.
Yeah, yeah, yeah.
So people just ended up having enough.
So he sort of came back a little bit and was like, yeah, whatever.
And there was another one.
I actually couldn't find it, not on X anyway, but there was another one where an ex Marine, a South Korean Marine, again, just decked him, just beat the living crap out of him in the street.
And he ended up all bloodied and bruised and stuff.
Well, I imagine if you're a South Korean Marine, you didn't decide to serve your country.
So, men like him would be walking about in it.
And so, I mean, there are so many videos, right?
There's even ones of him in the street in what looks like a nappy or something like this, drunk, walking around, being loud and obnoxious in the middle of a road.
There are so many.
Avant-garde art piece about how he's thriving for his age.
He doesn't have the brain cells for that.
But it just kept going and going and going and going and going.
There's so much.
There are so many videos.
So, I just want to give you a flavor of who he was.
So, anyway, just thought this was quite comical.
So, this was quite a while ago as his trial began, right?
Because he got sent up in front of a judge.
I know for a fact I'm not going to go to jail.
Not one day in jail.
I'm going to laugh my ass off when all these motherfuckers are saying I'm going for 30 years, 20 years, 5 years, 10 years.
Bro, I'm telling you, I'm not even going to do one day, bro.
They're going to give me a fine.
They're going to say, don't come back to Korea.
Ha.
How's that working out, mate?
Johnny Somali, guilty of all charges, sentenced to six months and 20 days prison with Labour.
No suspended sentence.
He will be going to a specialised Labour prison.
This is not a foreigner prison.
He's going to be around South Koreans.
No foreigners there.
Oh, I'm sure they'll get on so well.
Yeah.
I wonder what happens if he pulls his shit in a South Korean jail.
Yeah, he's irritating people.
He's going to be.
Correct.
And also, he's on the sex offender register as well.
So just want to watch this.
Hey guys, we're right outside the Seoul courthouse, and Johnny Somali has just been sentenced to what is it?
Six months and 20 days of prison with labor.
Yes, sir.
Also, he has sex offender status, so he can be nowhere near women, children, anything like that during the pendency of five years in Korea.
All right, so while this might seem like justice is served, What are the next steps?
The next steps is right now he was brought out of the courtroom.
All his possessions were taken.
He came with a full backpack, just like me.
But all those possessions were taken.
His phones were taken.
He's handcuffed, detained here.
He'll be taken to the prison at some point in the future.
And he'll go to that prison, a temporary prison, where they decide where to send him.
And then they're going to send him to a specialized labor prison.
He will not be going to the foreigner only prison, but a specialized one for prison labor.
So it's going to be a lot of Koreans with him, right?
Only Koreans.
He will not be in there with foreigners.
He's going to have to practice that Korean because he's going to be speaking in Korean.
Yes, sir.
All right.
So then, is there a chance that he's going to appeal this decision?
Yeah.
So both the prosecutor and the defendant can appeal in this case.
There is a reason for both to appeal because the prosecutor can say, hey, that the punishment.
Wasn't enough.
However, Johnny can also say, hey, this was not an appropriate sentence.
So both of them have seven days to appeal.
So we'll see within the seven days who files an appeal, the prosecutor or Johnny.
But either way, at least we can say Johnny Savali was wrong that he won't get one day in prison.
Yes, sir.
He thought he could play games in Korea and he found out.
He played stupid games.
He won stupid prices.
I like it when people find out.
What a wonderful, heartwarming story you've had yesterday.
It's good to know.
I know.
And I mean, well done to South Korea because imagine if we had done that starting in the 70s when the rape gangs first began.
Yeah.
What if it was like before they even got up to rape gangs, it was just public misdemeanor, okay, six months hard labor.
Yeah.
Just do that every single time.
What would American cities look like today if every time they had one of these individuals who is just going around being obnoxious permanently, six months labor?
Yeah.
I mean, the society that the West could be.
Oh, yeah, completely different.
This is the thing consequences of actions.
It's really important to have consequences to your actions.
Otherwise, no lesson learned.
I mean, prison, generally speaking, doesn't rehabilitate, not in its current format.
It just doesn't.
Rehabilitation doesn't work.
Reoffending is high, it's huge.
So, you have to, you know, there has to be some level of seriousness to the, you know, the only way this story could get any better now is if Johnny Somali appeals and then make it 18 months.
Yeah, that would be good.
Well, he was, the idea was that the thinking was that he was close to getting like a minimum of three years.
So, I hope the prosecutor appeals and says this is not long enough at all.
Well, given that Mr. Somali thought he wasn't going to get a day, I see it very unlikely that he's going to appeal it for risk of getting more.
But if I were the prosecutor.
Yeah, but he is stupid.
He is.
He is.
Yeah, yeah.
And so there was, I mean, even his fans have been sending him death threats, legal mindset for covering this stuff like mad.
Really?
Yeah, yeah, crazy, crazy, crazy stuff.
And I just want to go through, though.
There was a little bit more down here because he did like a play by play.
Of how he appeared.
So here it is.
So, Somali trial update.
The prosecutor has arrived in the Johnny Somali courtroom along with judicial staff, minus the judge.
Roughly 40 people pack the room, with many standing or sitting on the floor awaiting the sentencing.
Multiple major career media journalists in attendance taking notes.
Cameras are outside the courthouse to film both the arrival of Johnny Somali and his potential trip onto the prison bus for post trial detainment.
Ramsey Kleed Ishmael has been called to the stand.
He is alone, not wearing any funny religious garb, without any support in the audience.
Because again, this trial has been ongoing for quite a while.
And he's turned up, like, he's insulted the judge on streams, like, whilst it was going on.
He's been mad.
It's an exercise in, like, everything you just wouldn't do.
And he's like, Yeah, I don't care.
The thing is, you say, I don't care at all.
But this is young people's mindset.
Because there's no one.
Western society has taught.
Ramsey Kleed Ishmael on Trial00:06:33
People like this, that they can get away with it forever.
Which is how you end up with events like what we had in Clapham just the other day.
Yeah, yeah.
No consequences of actions at all.
Yeah.
Ramsey Khalid Ishmael has been found guilty of all the charges, including the deepfakes.
That's how he's on the sex offender register because he did some deepfakes of another Korean streamer called Bong Bong.
Yeah.
I suppose it is quite easy to be found guilty when your entire shtick is recording yourself on camera doing these things.
Yeah, this is, it seemed really, it was.
Like, what were you thinking?
What?
So, the judge did mention the settlement with Yong Man and the fact that Bong Bong, the Korean streamer, did not feel deep shame over the incident.
They factored in the travel ban imposed on Johnny Somali because he's been, he was basically kept in South Korea.
He wasn't allowed to leave, they took his passport.
Oh, yeah, well.
Oh, no.
So they're factoring that into it a little bit.
And they said, yeah, debt is a disadvantage in his favor.
But they also factor in the YouTube activities and the randomly chosen victims as overbalancing the other factors.
And said he disrespected the law and order of this country, as well as the possibility for repeating of such crimes by others.
So, to make an example, which makes perfect sense, I mean, you're not going to want to go there and do this now, are you?
Let's be honest.
Johnny Somali is now being handcuffed, having all his possessions taken and removed from the courtroom.
He shows no remorse and absolutely no comments other than a lie that he is currently attending Arizona State University.
Because the judge was like, Is there any other things to consider?
And he was like, Oh, I'm still a uni student.
It's like, No, you're not.
Everyone knows you're not, you idiot.
How the hell would he have even ever got into uni?
Well, American unis.
The judge finally asked Johnny Somali for any reason why he shouldn't go to prison.
And he said, I have family back home.
I need the chance to change my life as a young person and a second chance to do better.
And he also added, throughout the court proceedings, I have not done any acts to offend anyone.
Yes, he has.
That's why you're here.
But through the court proceedings, he literally has.
He videoed himself doing things that was offending people.
Thing is, that excuse would work on any Western judge.
Yeah.
Yes.
Yeah.
Yeah.
They'd probably give him money.
Yes.
Like, on your way, mate, I'll pay for your flight.
Or, and I'm gay.
Yeah.
Whatever.
So, yeah, which shows I learned a lesson.
This is, of course, a lie.
As he was documented committing several crimes during the course of the trial.
The judge simply listened and said, Are you finished?
The proceedings.
I like this judge.
So funny.
So I think what were the charges?
Guilty of all charges.
He was arrested several times in South Korea.
And it's basically accused of disrupting public peace, which is true, distributing deepfake videos and getting in the way of businesses, basically, like obstructing businesses, all of which he documented himself.
It was very cut and dry.
So, when I said that I would never watch his stuff, I've changed my mind.
If he wants to carry on making streams when he's in prison, now I'm interested in watching.
Yeah.
Yeah.
That would be very fun.
Yeah.
And just a quick one Tokyo Weekender reported on it.
Everyone's been reporting on it.
And I just find it funny.
And again, major South Korean sort of media entities are reporting on it and just going, yep, good.
Brilliant, happy about this.
Look at it, piece of crap guy.
Every paper in the East is rejoicing right now.
Yeah, and so they got a timeline of it kissing the statue of peace, mentions the statue again, forming a sex act, insults convenience store employee, playing loud music, creating a mess, which I showed.
Ishmael is punched by an unknown assailant during a live stream, the one I showed you.
Ishmael is assaulted again by vigilante YouTubers because literally they were like, There was like a bounty on his head going around.
It was brilliant.
Absolutely glorious.
One of the things I've always really admired about the Koreans is their legendary racism.
Yeah.
I mean, I'm not saying that's, I mean, it was clearly the content of his character that got him to trouble here than anything else.
But they are a valid factor.
I've often thought, you know how, like, I don't know, it doesn't happen so much, but 10 years ago or so, you'd have all these people who'd want to go to India to study spiritualism.
I kind of want to go to South Korea to study racism.
Yeah, it'd be good, wouldn't it?
Just absorb it, learn how to up your game.
So, yeah, so vigilante YouTubers.
I imagine you'd have far more cooperation from the locals than he had as well.
Yes.
Then his YouTube channel was deleted after he streamed Prono.
And then police say Ishmael was reported for alleged assault and drug use.
And then there's just more stuff.
What was very, very good about the South Koreans in this situation, right, was that the Marine that decked him, because obviously he, you know, the police were like, we can't obviously do that.
Like, we're going to have to charge you now, you know.
There was a whip around and people just paid for his legal fees.
But I mean, look, it just goes on.
Look, the amount of stuff that this guy's done, loads and loads and loads of it.
But there you go.
Yeah.
A white pill, ladies and gentlemen.
Wonderful.
Thanks for that, mate.
That was damn good news.
You're welcome.
I enjoyed that immensely.
Dwight Power says, fingers crossed that Somali cellmate is six foot, jacked, and is homosexually inclined.
I don't.
Is there any South Korean six foot?
Maybe one or two of them.
Oh, aren't they?
Yeah.
I don't know.
Maybe.
It'd be an act of providence.
Or Chigdor.
I feel any streamer in prison should be allowed to continue streaming, but the prison gets all the proceeds.
Yeah.
Fair.
Just live stream the CCTV footage.
God, it's so sweet, honestly.
It's just.
It is.
It's that comeuppance that you're like, you want all the time and just never get in Western society.
Yeah.
Finally, finally, he's got his comeuppance.
You're like, yes.
Love it.
So I've decided that things are a little bit unfair for young people.
You're a young person, aren't you?
Yeah, relatively.
Yes.
It's very unfair on you.
I don't like it.
It does feel unfair.
Yes.
I mean, this is the kind of thing I'm pointing to.
Streamers in Prison Get Comeuppance00:14:55
So, you know, proportion of 30 year olds who are both married and homeowners.
I'm neither.
Well, yes.
And well, if you go back to 1950, you'd have a better than 50 50 chance that you would be.
I'm neither.
Ladies.
He's laying some bait here.
All right.
Come on now.
Now I'm trying to get him to give me a house.
Yes.
Oh, well, I mean, ladies.
Ladies.
But you can see, I mean, especially a lady with a house.
Yeah, that would be, I mean, not that there's going to be many.
Ladies, houses, or ladies with houses.
Yes.
They can't put the kids in.
But you can see it's just fallen off a cliff, isn't it?
Something happened in 1990, didn't it?
Tom Harlan might know something about that.
Yeah, yeah, yeah.
Yeah, I mean, a steady decline.
And, you know.
Steady?
I mean, this.
I mean, that's like some downscale.
It's a far leg racing, isn't it?
Yeah, that's.
It's pretty dire.
I mean, clearly, this is not a slight change of preferences or anything.
This is a systematic failure.
This is proper collapse of a system.
And it kind of leads me to ask the question well, what are we optimizing for as a country?
Because quite clearly, it isn't this.
No.
I don't know whether it's GDP as a whole.
It's certainly not GDP per head.
Maybe it's GDP as a whole.
Maybe it's.
Tying up the loose ends of all international treaties or whatever it is, but clearly, whatever we're optimizing for is not this, and that is pretty bad.
I imagine we're just optimizing for the path to all of the consolidated digital ID.
It would control, maybe.
That's just more and more control.
And of course, you can see the effect that something like this is going to have on the birth rate.
Because if you push back this age further and further, which people get married and they get homes, well, you don't need people to want to have fewer children.
You just need them to run out of time.
You just need to delay them.
And almost everybody I know, they have their first kid in like the mid to late 30s, as opposed to their mid 20s.
And so they have one or two kids.
And then we wonder why we can't afford the bloody triple lock pensions and all the rest of it.
What have I got?
Oh, yeah.
So, this table is something I wanted to highlight.
So, this is the price of this mouse.
Right.
So, this is the price of the median home, the median first time buyer's home, and the median earnings going back to 1995.
So, as you can see, you know, back in 1995, A first time buyer was looking to find three and a half times their salary at the median in order to buy a home.
And as that sort of ticked up, so 10 years later, you're now at five times.
So, the early 2000s sort of really changed it.
And then this kind of became the assumption of which the whole economy works.
House prices are going up, therefore, house prices will go up.
And therefore, this is it.
So, this is the whole I mean, I remember this era.
This is when if you were watching daytime TV, in fact, not even daytime TV, like just TV in general, like every other show was like following around somebody who's bought a house or escaped to the country.
Yeah.
It was all of it.
And I think you still get that.
I haven't watched TV in so long, but I'm sure people who watch TV can tell me.
And there was this whole series of things where they go in, they'd buy a house and then they'd follow them doing it up and then selling it for this profit later on.
What they never realized of any of this is if they just bought the house, took a dump in the middle, and then left it for six months, they would still make a greater markup than they had wasting all their money on the do up because house prices were just going up all the time.
And the reason house prices were going up all the time is because more money was being pumped into the system.
The multiple that people were prepared to pay was going up, or bank lending rules were going up.
Until you get to the point down here where it's seven.
Times salary for a first time buyer at this point.
I got two things to say about that.
Yeah, go on, Ed.
All the boomers that say, well, just don't have a coffee.
Yes.
Just pack your lunches.
Sorry, mate.
Eight times.
Eight times average multiple.
Shut up.
Yes.
Shut up.
Seriously, shut up.
But secondly, it's nice to see it effectively flatlining.
And actually, now, I don't know if you've.
I don't know if you've.
It might be where I'm going with this, yes.
But it has started to actually decline now.
Like in London, it's now declining.
It's beginning to.
Fall apart.
Well, I mean, there is an angle on that, see, because, and I put some notes at the bottom here.
The thing is, when you look at this seven times the average earning, I then sort of made the note well, mortgages do actually cap out about four and a half times income.
Yeah.
So if it's seven times the average and the cap is 4.5, what's happening?
Well, it just means that anyone who's at the median and below isn't buying.
Yeah.
Basically, the cohort of people that can buy, you now need to be in the top sort of 10, 20% of.
Of first time buyers, in order to, well, people of the first time buyer age, in order to get into it.
So, what are you doing?
If it's up at seven, you've capped at four and a half, how do you close that loop?
The only way you get there is that because affordability has hit a ceiling, volume collapses.
That's what happens.
Volume has collapsed.
There have been various attempts to try and, you know, ameliorate this situation.
But of course, they don't do it by cutting anything.
They don't do it by anything taking away.
No, they just add a subsidy.
Yeah.
Oh, yeah.
More of my tax.
Yes.
Brilliant.
So what does that mean?
Just like what they did with Ireland.
Exactly the same thing.
It's this myopic tunnel vision.
Yes.
We can only ever increase the state.
It has to be a state.
So what happens, of course?
Oh, will it benefit higher earners?
Of course it does, because higher earners can now bid against each other more because they've also got a subsidy.
Yeah.
So you're just making the whole situation first.
And this is where I think this is what you were indicating, Nate.
So, yeah, the death of the one bed flat, how the first rung of the property ladder has collapsed with sellers now facing big losses.
London has been quite.
I've been watching it, and it's.
I mean, I'm glad, to be fair.
I'm glad London prices should not be what they are remotely, especially not when you've got an abundance of third worlders there.
Sorry.
It's absurd.
It's absolutely ridiculous.
Yeah.
I love watching this.
I mean, I don't like it.
On a whole, because economically speaking, if it starts to collapse in the capital, yeah, we've got a bit of a problem.
Well, it's more than that, though.
It's pretty broad.
I mean, it's worse than the capital, but it's happening everywhere.
I mean, I'll just pick out some bits from this.
So, one bed flats are the most unloved home in Britain right now.
Blah, blah, blah.
Data, data.
It shows 36% of one bedroom apartments are now selling for less than the owner paid for them, which is mad, isn't it?
That is insane.
Because it's not just less than what they paid for them, but remember, The debasement of the currency has happened as well.
So it's like a loss on top of a loss.
Yes.
Which people don't factor that in normally.
They're just looking at it on total, like, some value.
They're like, well, it's less than I paid.
It's like, yeah, but your money's worth less now.
I mean, good point.
Especially if you bought before, let's say you bought in 2019 or before, the inflation was monstrous since then.
Yeah.
Like, I don't know what it is in real terms because these numbers are rigged, but 20%, 25%, maybe even 30%, something like that.
And look, A lot of these apartments were purchased as a stepping stone on the property ladder.
And now a lot of people are finding themselves basically trapped or having to take a big loss to come out of this.
But, yeah, I mean, as a stepping stone on the, because that is, that was part of it.
That's what people, I mean, back in the 90s, that was kind of what people were selling you, selling the sort of flats on.
Oh, just get on the property ladder and you can kind of work your way up it.
It was this sort of, you know, pyramid scheme where you can just keep going, keep climbing.
So we've got this Austin chap, sales manager, and he's saying, I don't think I've sold a one bed flat to anyone other than first time buyers with mummy and daddy's money for the last decade.
That's not a functional market.
That's just the volumes collapsing as you squeeze down the group of people who can actually afford to buy these.
Well, it's even worse than that now as well because mummy and daddy's money, because of inflation, is getting worse and worse.
Also, border terrier, champ.
But also, when you've got inheritance taxes and things like that, it just gets worse and worse and worse and worse.
You're just squeezing it consistently.
Yep.
So that we can run massive government deficits forever.
We've got to pay for Bamalians, mate.
Yes.
Come on.
And house them.
Exactly.
Yeah.
Right.
They need to be housed.
Right.
They have come here.
We must pay for them.
Oh, here we go.
Why do people not want them?
I mean, when I bought my first house, I mean, one of the things I was very much aware of is I'm not going to buy anything unless if I got stuck in this for the rest of my life, I could live with it.
Yeah.
That's what I did, which was not going to be a flat.
So, I mean, my first house was a, I mean, it was a three bed house with like garden and driveway, but it was on, it was in London.
So it wasn't that big or anything.
But it's like, I could live with it.
If I got stuck in this forever, I could live with it.
And if London didn't just continue to take a dive?
Yes.
Yeah.
Well, it was London taking a dive that made me think, yeah, maybe not.
Time to get out, especially with small kids.
But yeah, a lot of people are saying, look, you know, one bed flats are just not in vogue anymore, largely because of the hangover of the race for space during the pandemic.
So yeah, that's the other thing.
So everyone wants to work from home now.
So a kind of two bed is really a kind of minimal.
And then what if you have kids as well?
Yeah, but it's not just that either.
Like it's.
You don't want to live in a one-bed flat.
No one wants to live in a one bed flat.
No one wants to live in a studio apartment.
No one, I'm speaking on a monolith.
Yes, there might be one or two people that do, but you're weird.
Basically, no one wants to do those things.
It's out of necessity, right?
I had this conversation with my prospective MP during the last election round, and she's such an idiot.
She was like, Oh, no.
I was like, What are you going to do when we keep flooding the country with people?
We'll just build more houses.
I'm like, Well, we're not, though, aren't we?
Yes.
She's like, Well, we'll just build more flats.
I'm like, Sorry, you think people want to live in a flat over a cottage?
She's like, Yeah.
I'm like, You're an idiot.
Yeah.
Like, no.
Like, if someone had a choice, they're both the same price.
Yeah.
Cottage, right?
Or a flat, a tower block.
Until London just looks like a judge's dread.
Yeah.
No one wants to live in those places.
They have to.
It's out of a necessity.
They have to live there.
But now they can't.
Some of the hovels I lived in, they can't even afford them.
They're just insane.
Yeah.
Yeah.
And you've got to pay a hefty sum for it as well.
Mm hmm.
And of course, it might make sense if you're going to be in there for, I don't know, two years, three years, and then you move on to something else.
But because they keep on adding stamp duties, the transaction costs, every time you try and buy now, you've got to go to a lawyer to go for all these unnecessary checks.
You've got to get, was it EPGs whenever you buy a place?
What is it?
The efficiency rating, brothers.
Oh, yeah, you do, yeah.
EPCs, is it maybe?
Yeah, something I think it is.
That yes, some nonsense like that, where you've got to have the whole place energy assessed, and it's difficult to buy if it's not up to the sort of efficient standards, yeah, current standards, which keep changing.
So, brilliant, yeah.
So, I mean, basically, um, people are basically deciding, yeah, with all of these costs, stamp duties, and mortgage fees, and because everybody is loaded on cost whenever they see something happening, it's like, how can I take a slice of that?
Yeah, how could I take a cut?
And the government being the chief amongst that, yeah, we're going to take our cuts.
Yeah, so what do people do?
It's like, okay, well, I'm just going to stay somewhere for a decade.
Rather than moving through the system like the system was actually built to use at the point where all these sort of taxes go on.
Well, they did all of this, included all these taxes, under the belief, the myopic belief, that the system that they were inadvertently creating or at least attempting to profit from would continue rather than collapse.
Yes.
And now it's collapsed.
Well, and the funny thing is, right?
So they tax stuff like speeding.
I mean, I know there's a speed ticket, but ultimately it is a tax, it's the government.
Imposing a cost on you.
And the reason they do that is because we want to stop people speeding, they say.
They impose a tax on smoking, and the stated reason is we want people to stop smoking.
And yet they tax things like transactional working.
I mean, by their own logic, what happens at that point?
People stop moving and people work less.
It's going to have an impact.
I found this kind of little explainer, which I thought just sort of sums it up very well.
And you probably do it better than I can in two minutes.
So this guy's saying look, a disproportionate share of British wealth is concentrated in housing.
Over 40% of total household wealth, approaching 4 trillion, is tied up in residential property.
For 30 years, that appears to work well.
So basically, houses go up, you get expanding credit.
It helps push all of this.
It ceases to function as shelter and becomes a leveraged money store for the future.
Yeah, so many retired people is like, yeah, I'm just going to work my way up the property ladder and then I've got this asset and that's going to provide for me in old age.
And then because you're doing all of this and these sort of anti young policies, you've then got an aging population, low birth rates, which they're trying to make up for with immigration, of course.
And while they're trying to tax the thing that people have been using as a saving vehicle and turned it into basically a A capital tool rather than just home.
Yeah, and this corresponds, yeah, the entire UK model became dependent on rising house prices as a substitute for actual productivity growth.
Because there hasn't been any in the UK.
No, there's been literally none.
And that's why, you know, when you look at some of the biggest donors of the Tory party for the last 14 years, who were they?
They were housing developers.
Yes.
Yes.
Follow the money.
But I mean, Labour's not much better either.
I mean, I saw it.
Oh, yeah, God, no.
I'm no friend of Labour.
I saw something this morning, which was a Labour MP.
She's decided that her big thing in Parliament, why she's sent there, is she's going to normalise sex toys.
Yeah, what off?
She's a 46 year old.
UK Model Depends on House Prices00:15:50
Idiot.
46 year old married mum, and she's got into Parliament.
There's nothing better to do.
Well, I mean, she's got no ideas.
So she's got to Parliament, and it's like, okay, what am I going to do with myself now I'm here?
And it's like, what's the one thing that I could actually contribute?
Oh, I can make it so that you can walk into Tesco's and buy the Rammer 3000 without people looking at you funny.
Brilliant.
I mean, because we don't have people in Parliament who have any ideas.
Nobody in Parliament has any idea how to have a growth strategy or to fix things for young people.
So they just don't have a lot of options.
Not to get the comfy paycheck.
Yeah.
Yeah, our political classes are insultingly stupid.
Yeah.
They are incredibly dumb.
They are.
They are incredibly.
I mean, what else did he say?
Yeah, and in Stupidly, we've embraced it as a nation.
House prices going up made people feel richer, so they spent more, which generated tax revenue, which funded public services.
Well, when it says, sorry, Dan, when it says houses going up made people feel richer, well, it made a particular strata of people feel richer.
Yes.
Not so much for the other people.
This is why I sort of start out by calling it generational unfairness.
I don't think it's really on.
And the thing is, once you stop that flywheel, Of we're just gonna pay more for each other's houses and make ourselves feel richer and suck a few young people in the end.
Increasingly few.
And as you can see from the volume collapse, the young people, they're just not coming through anymore.
No.
Not only that, they're leaving.
Yes.
This entire system is actually predicated on the young deciding that they enjoy being punched in the face by themselves constantly or by the government, basically.
Like, no, just stay here, just stay here.
It's like, mate, the people that were staying here weren't staying for the weather.
They weren't staying for the economy.
They were staying because this land is their inheritance and they love it.
Yeah.
Now you've disinherited them.
You've destroyed the economy.
The weather sucks.
And you've made it so unpalatable that there's unfathomably difficult for them to reside here.
A lot of them are just leaving like 250,000 last year or whatever it was, just gone, boom, gone.
I mean, this is going to exponentially keep going.
Yeah.
And the first rung of the property ladder is rotten to the point of falling apart.
I mean, the whole thing will come up because if there's no new money going into it.
But those people leaving are paying all of the bloody taxes as well.
Yes.
So this whole thing is going to just implode.
Yes.
Yes.
And it's such a.
I can't fathom how stupid you have to be to not consider that as a government.
Well, we need the young people to pay taxes to pay for everything.
Oh, well, they'll just leave.
Oh.
Yeah, absolutely.
Oh, well, never mind.
I think this Rumble rant actually is pretty appropriate to read now, just from Jammer for $5, where it says I'm 24 and I live in Manchester.
I had to work 70 plus hours most weeks for three years to get my house, but it meant that I had no social life.
Only things I'd pay for was diesel and the rent when I lived with my parents.
Mad.
Yeah.
It's just no future in it.
There's certainly no finding a wife in that or husband or whatever.
Just don't have a coffee jam.
Don't buy your costas, remember?
That's what the boomers tell us.
Yeah, yeah, go on.
Not me, I've got a house.
The thing is, a healthy housing market, what it should do is it should match the household to the appropriate person for it.
So you start when you're single in a flat and then you go up and you move through larger family homes as your family grows.
And then when you get old, you move into a bungalow.
You know, it should work.
But because of stamp duties and all the rest of the fees that have been put on all this stuff, Volume collapse has basically broken that down.
So you just get people, you just get boomers in massive homes and people in their 30s with two kids in a flat.
Yeah.
The whole bloke.
And, you know, stamp duty has been sort of dumped on top of this, is because, of course, the government needs to find a way to run up a sort of permanent deficit.
But I mean, it's not just stamp duty.
I mean, it's legal fees and it's mortgage exit fees and it's arrangement fees and you go in and it's surveys and it's, you know, removals and, you know, all the time and uncertainty that goes with it.
And the result is that the velocity is collapsing in the housing market.
So, the UK has something like 24, 25 million houses or homes, sorry, 24 million homes.
And in 2005, when I started looking at this, about 7% of those transacted every year.
So, it's a reasonably healthy market.
Good amount of movement.
And what it basically implies is that people stay in their home for about 13 years.
Okay.
Fair enough.
That seems about right.
I mean, each key life stage, 13 years.
Yep.
Single person, loan, small family, larger family, you know, moving on then into retirement.
Yeah.
Okay.
Fair enough.
I can go with that.
13 years seems to about make sense with some people moving a little bit more.
Today, the velocity is literally half, it's 3.5.
Which has pushed the average time in a place to 26 years.
So people aren't rotating through this.
A lot of people are just moving into something and then they're just staying there forever.
And that's why people don't want to get trapped in a one bed flat because they can't risk getting stuck in something.
They need something that they can just walk away from.
And what's happened to stamp duty all that time?
Okay, well, when it started, it was raising about three billion.
It was like, oh, good.
Well, this isn't.
This isn't affecting the market much.
It's just a new way of getting our hands on some money.
And then what is it today?
Well, it's 12 billion, which they can't afford to go without.
It's a major revenue line now.
Even though they've, even though, and you can show how extractive it is, is because even though volumes have collapsed to half what they were, they're still getting 12 billion from it.
So they're not going to let that go.
Well, that's subsequently, I guess, now why they're talking about additional taxes on top of higher properties, because they're not getting.
They want that to grow and they've not had to grow.
Yeah, they've got to extract more somehow.
They're trying to get it elsewhere.
Because we can never cut spending on anything ever.
No.
And as Burnside points out quite well here, we are the third highest tax revenue country in the world.
And we're poor.
We're poor as a country.
You've got to remember that.
Yeah.
Third highest tax burden in the world and we're poor.
Everyone can feel it.
Our GDP per head is lower than every state in the United States, including Mississippi.
So, what are we going to do?
Are we going to tax more?
Are we going to overtake China and become the second highest?
I mean, tax revenues?
Well, we can't because we just can't.
We don't have the volume of biomass to do that.
We can't do it.
So, this is not going to work.
All right.
And what's it all in service of?
Malian.
Well, state spending.
So, I've added up there where your money's going.
Health is, of course, the biggest, most of which is spent on pensioners.
Hmm.
I had to split out welfare into two groups because welfare is actually the largest group of state spending.
330 plus.
Yeah.
That was the recent figure.
384 billion, I think it was.
So I had to split that out into other forms of welfare and the state pension.
The state pension is a benefit, it is part of welfare.
And this is kind of what got me thinking about this because I've just done a brokenomics on the triple lock, which will be out on Tuesday, because that's been a discussion recently where people are saying, look, this triple lock is mental.
It has to go.
I mean, the reason why the triple lock is so completely mental is because you get the best of, was it wages going up or inflation going up?
And if neither of those are going up, you still get two and a half percent, right?
What that actually is, is it's double dipping because you can see this since COVID massive inflation spike, right?
And then, which is basically everybody getting poorer because their money goes less far.
And then that goes on for a couple of years and then inflation starts to dive and then you get a wage spike.
As people are trying to catch up with it, it lags.
So you miss out on a couple of years.
Yeah.
And wages never go up quite as much as inflation.
But it's the same mechanism.
The inflation then causes the wage spike to follow it.
But with a triple lock pension, you get both the inflation and the wage thing that follows.
So you're double dipping on this.
And I mean, on the brokenomics, I kind of go into it, but.
If you keep running the triple lock, it just consumes everything.
Yeah.
I mean, it can't not because it's an exponential growth series on a limited system.
I mean, it's going to be competing with the NHS to consume everything.
But ultimately, if we carry on down this path, the entire British state is just going to be channeling all of the money towards pensioners, either through welfare of the pensions or NHS.
And for some of the boomers out there, the triple lock does seem to be their sole decision making voting issue.
Yes.
Yes.
That had bothered me a lot.
That also keeps us tied to the old political system in the same way that you see that there's a generational gap between the boomers who are voting for the older, more treacherous parties and the younger generation who are looking for something radical to get away from that nonsense.
Precisely where I'm going with this.
So, most of health spending, like 70% of health spending, is for the elderly.
I know they do some other stuff.
They deliver the occasional baby.
And if your head gets knocked off on a motorcycle accident, it's the occasional baby at this point.
Point, isn't it?
But mostly that's going to older folk, as is all of that.
And I suppose you could even make the argument that a lot of the debt interest is that because it was accumulated on their watch.
So you could say that.
But the result is that at least a quarter, if not 30%, of all state spending is just going on the 10% of the pensioners.
Especially if the constant line is that, well, we need all the immigrants to look after the boomers and everything.
It's like, yeah, but they get old too.
Well, you have bought over millions of them and they get old and we're giving them pensions and you're going to bring in millions.
The whole thing is, I mean, it's not a case of if, it is now just when.
Yes.
This will collapse.
It can't not collapse.
Yes.
The whole thing is going to just completely fall apart.
Now, I want to be absolutely clear.
Yes, you know, there are other issues.
I'm highlighting in this segment the generational unfairness because it does have to be ignored.
Yes, of course, immigration needs to be reversed.
But even if you stopped everybody, every non native from claiming welfare, you wouldn't fix this deficit.
I mean, you can notice I've done each of these as a percentage of income.
Sure.
The eagle eyed will spot, oh, have you made a mistake because it adds up to 112?
No, that's because we spend more than we take in in taxes.
That's why it's 112%.
But even if you reverse the immigration, you wouldn't actually fix that.
It's not large enough.
Honest.
You have to address the generational unfairness because what we've kind of got at the moment.
Is this, uh, oh, and also, yeah, welfare that needs to be addressed as well.
Saw that yesterday, I was well happy to see that.
Yeah, brilliant.
Yeah, 8.4 million on um, on universal credit, which is you know, it.
I mean, so I reposted this and said, Look, you know, anyone on benefits, no one on benefits should be better off than someone working, right?
Like, it's wild that I've got to say that, but you know, I have a lot of sympathy for people that are forced into you know the benefits, yes, like genuinely, yes, but that it's still.
There's not 8.4 million of them.
It's still, yeah, no, exactly.
And it's still welfare.
Like overall.
I could believe 0.4 million.
Yeah.
But overall, the reasoning behind people being forced into it is still welfare.
Because if your welfare bill exceeds your income tax and your taxes are still the highest they've ever been, yeah, I mean, like employers are going to be sacking people.
I mean, and we.
They're not paying for it.
But on the generation one fairness, I mean, look, I mean, Desmond Swain, who actually, to be fair, he's the one good Tory.
Yeah, he was against the lockdown stuff as well.
He was, he was very sound on that.
So, actually, apart from Rupert Lowe, I like Swain as well.
He's pretty good.
I mean, but he has the advantage of being born in 1956.
And as he points out here, look, if you were, if you like me were born in 1956 and you're the median of that generation of that year, you get £300,000 transferred to you from the state.
That is coming from all of the other generations.
Yeah.
So, and that's largely because the boomer generation was so large, they basically got whatever they wanted throughout their entire lives as they voted.
It was youth friendly policies when they were young, and now it's pensioner friendly policies.
And people are going to come at me.
I'm not, if you were born in 1956 or around then, I'm not having a go at you.
Circumstance.
I'm just saying that the median voter of that period is voting in their own interest, irrespective of whether you yourself are.
Yeah.
You know, you might be better than that.
And the other thing people say is, oh, Dan, you're not fair because pensions aren't actually that good in this country.
They're more attractive in the rest of the G7.
And I dismantle that argument completely in my broken omics on this subject because it's not, okay, yes, the pensions in the other G7 countries are higher, but in the UK, you're getting paid in services for half of it.
Right, yeah, yeah.
You're getting your bus thing, you're getting your NHS, which is huge, actually.
Medical bills in old age is huge.
Yeah.
So, actually, when you look at what those G7 countries are spending on that 10% of their population that is retired, it's the same.
So, you are getting the same deal.
We're just divvying it up differently and giving you services instead of all of it in cash, which is the thing to be aware of.
This I found very interesting.
This is a guy on Brokenomics, MicromHR, and he's talking here about the health in a country that HR people look at and a Key indicator of that is okay, how many people are doing overtime and how many people are going for promotions?
Fairly standard thing to see if your company is healthy.
Both are collapsing.
Both are collapsing.
Why are they collapsing?
Yeah, so this is a major multinational that he got his data from, somebody he spoke to there.
30% of all promotions were declined.
That's the steam.
People have actually come to them and said, We would like to promote you and give you more money.
And 30% of them say no.
Because they'll cross the next tax threshold.
Yeah, exactly right.
This is that curve, isn't it?
Yeah.
Mass refusal of overtime with only 20% of staff now accepting paid overtime.
You've rigged the economy against aspiration.
Yeah, of course.
Because of the same thing as the bloody stamp duty, which is tiered up.
It's because the tax bans are tiered up.
So nobody wants to do anything.
Yeah, but it goes back to what I was saying as well, is that you can't have.
I mean, all these taxes are here, obviously, to pay for all these benefits and the welfare.
And then, if you then make it untenable to work because you're taxing people to oblivion, they will just then go to welfare.
Transfer Money from Poor to Rich00:03:41
Like, people, yes, there are actually a large portion of people that are just going, Well, what's the point?
Why would I slave away for 45, 50 hours a week or whatever it is?
I don't know what full time hours are these days.
Yeah, they're not actually a lot to be fair.
You know, why would I do that and earn like a pittance more than what I could just get from sitting around and playing my Xbox?
Now, you know, that's not my attitude, but that is a large portion of people's attitude.
Like, people do genuinely think that.
When I was living in London, there was a time where I was working for a place and I got made redundant, and it took me about half a year to find another job.
And so, in that time, I was on Universal Credit.
And when I finally found a job again, it wasn't much better.
And also, you know, the days spent looking for a job and just piddling about at home, reading my books and everything was, you know, admittedly much more enjoyable.
And though I, out of my own sense of pride, obviously wanted to work, I can understand the temptation there of why many people don't.
Well, you've got to pair that with also importing people from cultures that don't, like we, the English, the British, look at people on the dole with a significant amount of disdain and resentment.
But they don't have that at all.
No, yeah.
You bring in people from Africa or the third world, they're just going to go, Yeah, I'm going to have that free money.
Of course I am.
And them in their little enclaves are not going to be looking at each other going, Gross.
Now they're going to be like, yeah, I've got that money.
And so the deal for young people is that they are, and especially the working ones, the setup at the moment is we are going to transfer money from poor people to rich people, basically young people to old people.
That's what we do.
Yes, 20% of retirees are genuinely poor.
The other 80% are not.
The median boomer has got half a million.
I don't know.
One in five is a millionaire.
And actually, two out of the five are not far below it.
They're like 900,000.
Yeah.
This is where you can see the appeal that the Green Party are going for on the left wing.
Well, funny you mention that.
Oh, right.
Funny you mention that.
If you look at the breakdown in voting intention, a lot of people are inclined to say that it's just because young people are just left wing.
That's it.
They're just idiots and they're left wing.
There is an element of that.
There's a little bit of that.
But the entire platform.
Of, and I'm pretty sure the next election is going to be a coalition between the Conservatives and Reform.
Their entire platform is transferring money from poor people to rich people, young people to old people, essentially, and also immigrants as well.
The reason the Greens are doing so well over here is because they're actually speaking to young people's concerns.
Yeah, I mean, Restore, you know, massively have got my support and stuff, but they need to get on this.
Yes.
They need to start signaling.
There needs to be a right wing option.
Yeah, yeah.
Well, should we say these people down here?
Anyone under 40, there needs to be a right wing option that appeals to them.
That's me.
Yep.
Yep, entirely.
Because ultimately, I think what we need is a national project.
And if we're going to have a national project, because our politicians, they don't know what they're doing.
They don't know what they're supposed to be doing.
They don't know what they're focused on.
I've got one.
Turn that chart upside down.
Make that go back up to over 50% again.
I want over 50% of people married and homeowners.
By the time they're 30, that is what we should be putting our national energy into.
Need a National Project for Youth00:03:11
Any comments?
Three, mate.
Have you done jam?
That was a good one.
You ramshackle otter.
There is nobody testing the safety of sex toys.
It's a self regulated industry.
There have been countless severe injuries and even death.
Good lord.
That's an unfortunate way to go, isn't it?
Yes.
Die doing what you love, though, I suppose.
Well, has anyone done a study on the amount of children.
Um, stroke property of those who stay versus expats.
Anyone done a study in the amount?
I want to see if people that have left have more going alone or taking the family children.
Oh, I don't know.
I don't know.
Okay, not sure on that one.
Uh, do we have video comments, Samson?
In fact, of course, we do.
I see them in front of me.
What a silly question.
Go on then.
I can clearly see as Peter Purrer, as the new Lib Dem leader, is fierce in his defense of the realm against the flying octopus.
Come on.
There we go.
There we go.
Very pretty kitty, pretty kitty for everyone to see now.
Enjoy.
I will.
I love cats.
Oh, now we're on to dogs.
Excellent.
And now, a quick Sakura comment.
As Sakura says, listening to liberal women helps me understand why liberal men are all gay.
Are there any more, Samson?
Can you notch up the volume slightly?
I'm old, I've got bad ears.
Funny Michael.
Unlike its English namesake, Chatham in southern Ontario is not widely known for anything.
Well, I like to invoke the name to Italians.
Even including Italian Americans, as the birthplace of the Hawaiian pizza, by a Greek who understood that pineapple does belong on pizza.
Anyway, for when Carl is next back on the podcast, he can add Chatham to his list of places to visit to maybe glimpse the Sasquatch.
I'll be sure to let him know, Alex.
Pineapple does belong on pizza.
I mean, my standard pizza order is double anchovies, double pineapple.
Just nails it.
I've been seeing the leftists insisting we need to rewild wolves in the countryside again, and I feel that we should follow up on this.
And perhaps the Western man can make an alliance with the wild hog herds that we have all around America and start rewilding them into places like Berlinistan and Londonistan and New York and perhaps Madrid.
I believe the Spanish might need the pigs' help in the coming days.
And after, although I am told that the wild hogs are not dangerous, so I don't think the population should have any trouble with them.
Quite dangerous to be fair.
Yeah, I thought so.
Rewilding Wolves Across Europe00:03:10
Trump blackbags the Pope during a late night daring Delta Force raid after the Pontifax Maximus failed to retweet him.
What is your policy on America?
You must appease the Protestants.
to be shy At the time, I thought that I was coming up with the most ridiculous possible scenario.
I didn't then expect it to happen three weeks later.
But I don't know.
Maybe it was in the White House.
Yes.
Bit unfortunate that.
Any more, Samson?
Trump black bags.
Nope.
And now, obviously.
Oh, my greatest hits.
Okay.
You're just doing them in reverse.
All right.
My laptop's packed in, so I'm just going to.
Oh, all right.
So let me close out so I can get to comments.
I'll just read one because we're short on time.
So from my segment, Richard says, get rid of the foreigners, get rid of foreign taxes.
EU, get rid of foreign rulers.
It's the only way.
There's a lot to do, Richard.
There's a lot to do.
And that's a random name says, so I suppose my comment on the state of politics the other day was prescient.
The Irish will soon be using.
Yeah.
Like and subscribe, ladies and gentlemen, to Nate's channel with Bo.
The Irish will soon be using potatoes as currency due to their rarity.
Yeah, it's like meme magic, I suppose.
And also, last one AZ Desert Rats says 60% of the price, that's a little psychotic.
Yeah, and the rest of Ireland noticed that point, AZ.
They really did.
Okay.
From your segment, Nate, if you just want to.
Kevin Fox says, and in the South Korean labor camp, he will not be around nice white collar Korean criminals.
They save the labor camps for the worst of the worst.
So instead of behaving like a Biatch, he's going to become Kim Lee Hong's Biatch.
I guess all that twerk and practice Johnny did will prove useless.
Brilliant.
Henry Hatterin has followed this story with attention.
Is Dan's median earning calculation pre or post tax?
Because a significant chunk of earnings is going to be taken by tax, Nash insurance, student loan repayments, bump the multiplier up even more.
It was pre tax.
So, yes.
It is even worse.
And you're absolutely right because the tax burden is now significantly higher than it was.
So, yeah, in fact, when I started that series in 1995, from memory, Taxes as a portion of GDP were actually quite low compared to the G7, and now they're at the top.
So, yes, absolutely right.
It is even worse than I made it sound like it was.
I love it.
And on that bombshell, it's time to end, ladies and gentlemen.
Dan, Nate, thank you for joining me.
Hope you've enjoyed the show, ladies and gentlemen.