 Hi everyone, this is Chicho and welcome to another live stream. Hopefully we're live streaming. Let's check this out. Refresh, make sure we're all good to go. So we're doing a live stream. Welcome. This is Chicho. We're on February 18th, 2019. And the topic of discussion for this stream is what do we call it? The great generational transfer of wealth, right? Which is basically delving into economics and politics, mathematics for sure, and investing finance, wealth, jobs, and all that jazz. Okay and it's basically the concept where the fact basically right now that majority of the wealth or let's call it material wealth or financial wealth basically based on fiat currencies or whatever it is is in the hands of the older generation may they be 50 plus years old, right? And if digged up some graphs, some charts that we can take a look at just to get the discussion going. But before we get into those we'll probably give everyone a few minutes to pop in and join the stream because sometimes it takes a while for the stuff to go through. Okay so we're just going to chill for a bit and talk about whatever comes up and slowly make our way into the what do we call this again? The great generational transfer of wealth which is basically people are simplifying it in terms of we're baby boomers, that majority of wealth right now, and the generations coming after them are basically going to be inheriting some funds. So it's a sort of a battle going on on what's going to happen with all that material wealth, right? Rob, T, how are you doing? Good evening, good evening to you. For me it's afternoon 2 p.m. you're in the UK I think or Europe at least so you're 10 p.m. approximately. I think got it right if I got it right. Hope you're doing well brother. It's a nice Monday morning in my part of world they've called today a holiday they family day which is really related to what we're talking about right now which is pretty cool actually. So in British Columbia Canada today which is February 20, February 18, 2019, which I think there's the third Monday of the month I guess it's family day in BC. So it's a holiday and people are supposed to spend time with family and stuff. Hello King, how are you doing? Hope you're doing well. And what we're talking about today which is the great generational transfer of wealth is all about family almost all about family with a lot of politics economics and whatnot thrown in there right? How's your February everyone? How's your 2019 going so far? It's an interesting year so far so far this is how many strawberries I got left from my liqueur. I got one one chopped up here to eat. I was popping them one at a time but I'm so down low to the last three that I'm cutting them up now. Sector how are you doing? This is going to be a good one. This should be an interesting discussion. This should be an interesting discussion. Rough. I know what the liqueur means. Rough or a rough day? I hope it's not a rough day King. I hope you're having a good day. I'll be making more of this. I might if I get a chance to go to the liquor store to pick up some vodka and stuff because I have strawberries and sugar already here. We may make some more strawberry liqueur tomorrow during the cooking live stream that we're going to do. Sass. Tax return in the mail so things are good. Okay awesome. I'm glad to hear brother or sister. If you can get money out of the government you're a lucky person. That's good. That means you're playing the game well right? To a certain degree. To a certain degree. If you have a business and you're working and you know you're maintaining your life and happy with your life and if you can file your taxes in a way where you're actually getting returns that means you're doing it right. You're doing it well that's what the system was set up for right. To help people to feed the economy really. How does how does that work in Canada? Do you guys usually get uh similar size returns to US here and us here in the US? It really depends what branch you know what class you're in I guess with what your income level is and if you're running a corporation like the economic system in Canada United States anyway it's set up and this is not for me I'm paraphrasing one of the prime ministers of Canada and before he became prime minister of Canada he was a finance minister of Canada during one of the boom times that Canada had for like eight years or something was a finance minister he became the prime minister I think for about four years tax bracket tax bracket and basically they asked him the question and this was uh Paul Martin index will notice okay because index is Canadian living in the United States right going to school getting his PhD I believe but who do I say it was it was Paul Martin Paul Martin and he I believe so anyway I'm going my memory he had a his family had a shipping company so you know they would ship containers and stuff all around the world and they asked him during an interview once why his shipping company its address was not located the primary office was not located in Canada but an island somewhere outside of Canada and he basically said look our system is set up to help entrepreneurs to help corporations grow their business right so what you need to do is take a look at the tax return hello sleepy take a look at the tax laws and use those laws to your advantage right that's what it's set up for initially started off simple initially it wasn't even supposed to be income tax right it was introduced and whenever there was a tax introduced in the government it's very very very very seldom taken away outside of some kind of revolution or some kind of major restructuring right so whenever the government asks for more money requests more money introduces new taxes or whatever it is it seldom those go away so initially income tax was introduced as temporary measure for war funding I believe and stuff like this and it stayed with us and initially the tax returns were pretty straightforward but every year every few years more rules and laws are put into place to first of all plug holes in the system right fraud in the system okay and that introduces new loopholes of stuff you could go through and it gets so complicated that the little guy can't really afford the type of accountants that you need to be able to make sure you're running your business or your personal finances optimally right it's because they have to know all those rules and regulations so the little guys left behind meanwhile those people who have taken advantage of the tax system in the western world for a number of decades they're ahead of the game and they can afford all these accountants and all these experts to navigate them through this minefield right and what that has done in the western world for the last last number of decades is created a serious divide between the haves and the have nots right and that just that just doesn't mean haves in terms of funds okay because haves a lot of them are corporations it means haves in terms of expertise and their tentacles into the system and how they can navigate the system those coming out just now are left behind right turbo tanks of fun right so unless you know how to navigate the rules and the regulations and you should spend some time if you're running a business and if you're trying to manage your finances make sure you're getting a good return for your investment you should definitely not just leave it in the hands of the experts you should have a pretty good idea of what's going on and that way you can manage your own funds and understand how the system works and optimize your business from the get-go the way you set up your business and how you're going to do things okay my tax return is about 50 pages long yeah it's crazy it's crazy the bureaucracy in the western world is insane that is one of the main reasons that a lot of empires a lot of a lot of countries throughout history have collapsed and have their life life expectancy and the standard of living has gone down is because the general population has to fill out so many taxes so much paperwork this that that that keep track of the bureaucracy just kills the economy right so the bureaucracy in large part is killing the economy in the western world and we're seeing serious changes taking place america is one of the few countries that double dips on non-american income if you're an american citizen even if you are permanent resident somewhere else the rs expects you to pay taxes on income you've already been taxed on in your country of residents yeah the americans tax system is from talking to people reading some stuff and first-hand experiences i've gotten from people that have known that american is insane like one of the most recent things that i heard was i know an american where they gave up their american citizenship and i asked them why they did that i i know why because it's the tax system basically it was insane some of the taxes were paying the stuff but they said the one thing that really was the straw that broke the camel's back was this was because they're married and they're american or they were american and their husband was not american or their spouse was not american and their kids were not american so if something happened you know to them and the husband or the spouse and their children were inherit whatever assets they had including the house then the family the heirs of this american citizen would have to pay 40 tax on the house to the united states and they said that is insane right because they bought house a long time ago and it's increased in value a lot so 40 percent of that gain basically kills their gains they don't have anything invested in the system and if you put inflation into consideration they've lost a lot of money why just because this person holds a piece of paper that they haven't really even used they haven't gone there for a number of years right uh it's crazy so that's what's going on how we do it we're 13 minutes in gang should we start talking about the great generational transfer of wealth okay the valiars so i pulled out some charts and graphs okay just to lay down the initial discussion that we might have here and some of the things that people are gonna have to deal with or are dealing with right now and some of the problems and things that are going to persist for the next two to three decades if not longer all right and a lot of the stuff is related to differential accumulation sort of a video we put together let me bring that up i should have grabbed it earlier but i didn't chicho differential i'm just doing a search for my own video right let me grab it should be here here's here's the last one we did on this we will do more on this later but this links you back to some of the other stuff some of the other things that we did okay so here's the video that i'm going to refer to spencer as a going good timing we're about to start our discussion there's some people rolling in right now so we're going to refer to differential accumulation capital as power and some of the stuff we've talked about in ASMR math investing in finance personal finance economics in that video specifically if you take a look at that it's a half an hour video i think maybe plus or minus and that links back to some other videos that pop up that gets a little bit more information in there to we talk about that stuff right glad i could catch you in time awesome awesome okay so let me bring up some data because what this basically in short what this great generational transfer of wealth refers to is this basically a majority of the wealth in the world in the western world anyway okay and wealth we're going to define as assets property money in the bank we're not defining wealth in terms of health family friends wisdom knowledge experience because all of those things are priceless you can't put that in the same category as what we're going to talk about because what we're going to talk about is easily lost and easily gained the rest of what we're what i just mentioned right family health well friends wisdom experience and all this jazz all of that stuff is not something you can acquire in one shot you can't roll the dice and get family you can't roll the dice and have amazing friends you can't roll the dice and get experience right you can roll the dice and make lots of money you can roll the dice and lose lots of money okay so this is really important to keep in mind we're defining wealth in terms of what our centralized governments the banking system defines wealth as it is not my definition of wealth okay and it is not bob marley's definition of wealth there's an interview of bar marley when bar marley interviews he's being interviewed and the person asking him i think this was in the 1970s or something like this i'm not sure if he had had already had cancer it was in therapy or whatnot but i believe this was in the 1970s when the interviewer asks him so marley are you are you are you rich and marley is like he does a little laugh and he goes rich rich he tries to answer it at first right and then he does a little pause he realizes that rich can mean different things so he goes what do you mean rich right and the interviewer says well can you go to a bank and withdraw a million dollars and go buy whatever you want and marley laughs and he says no man no man oh i can't do that uh that if you're that's i'm paraphrasing that's your definition of rich then uh i i do not fit that category but i am wealthy i am rich i have friends i have family i have experience i have love i have this i have this right i want to put that disclaimer in there okay let's take a look at some data now first thing you want to take a look at when you're talking about the generational wealth transfer they call the great generational wealth transfer i'm not sure you know it's the it's the most right now 20 years from now may be different right so here's one chart this is called a population graph now if the graphs that i'm showing you i'm sort of sitting on the side because i'm going to be popping up you know i got like eight or nine graphs i'm going to be popping up here okay and we'll go over them and then we can bring them up again if discussion grows if we want to talk about this more right so if you want these graphs bigger i can definitely grab and make them bigger you know let me here i can unlock on highlight them and then make them bigger oops what's going on i can make them bigger if you like okay but i want to take too much i just want you guys to get a feel for what all this is about right if you take a look at this graph now this graph is basically taking a couple of decades at a time approximately and saying you know this is gen z this is millennials this is generation x this is baby boomers this is what do they call that silent generation the great generation and all that jazz right i think the great generation name came because of the world war one which was called the war to end all wars the great war but obviously it wasn't it really kick started all century of wars even more so right so this is the population density to a certain degree so we'll read the title total u.s population by age and generation right so you can see you know people who are one years old all the way to around you know 70 years old the the graph is fairly flat if you take it there and then people start dying off health kicks in life kicks in time kicks in calculus kicks in right and people start dying off okay that's sort of the population distribution for the united states now what you can do with this now keep this in mind we'll pop this up again okay keep this in mind but what you can do with this is flip it on its side right and divide this out between male and female which is one version of the graph that you get presented a lot and you would get something like this right and this is the population by age and sex for china for 2015 to and that's the 2015 and then right beside it you got 2050 so you can make a projection hello nicholas how are you doing by the way nicholas you sent the funds for the comic book hall yes yes yes i already got a handful there's some more we got going uh i have a bid zone hopefully we'll get our hands on a few more so i'm going to be uh trying to make sure we get what you thought sent maybe i can if i can afford it i'm going to add a little bit more get a comic book hall maybe we might be able to do it this week probably two weeks from now and what i've decided to do is from now on if we're getting funds coming in to do comic book halls we're going to do at least one reading from the and i'll just decide which one i guess um and after the hall if you do feel like reading something let us know i'll do another reading for another one as well okay just wanted to drop that on there since you're here since i don't know how you're gonna be staying right thank you by the way we got some good hall now take a look at this so this is the population density for male and female for china for 2015 and then you can extrapolate the data based on birth rates and stuff like this to what's going to happen in china approximated for 2050 awesome bro i'll be dropping you some where i'm not paying anyone i'm glad i helped top the fund for sure man i'll try to top it myself because what you said was was good enough to get us a nice sampling but i'm looking for some other more a couple other ones that i'm gonna kick it up a bit more i think okay uh so you can extrapolate it now the distribution for china right now doesn't look bad in terms of working age population because countries are looking for to have enough youth to work to generate taxes to feed the economy that can take care of people in their old age when they're not working right because there's a certain age group that people tend to make money and we'll take a look at that a little bit okay make money and then they taper off so they start off you know not making your getting experience you don't get very much money in a certain period in your life you make a lot of money and then you taper off and you start working last thing you retire right so this is a period where funds are coming in for governments to get taxed revenue and for these people that are excited entrepreneurs corporations stuff they feed the economy right so you can take the population data and distribute it to break it up between male and female you know they flip it this way flip it that way and then extrapolate that information into the future for 2050 for china it doesn't look that good because you're getting a seriously aging population and one of the reasons that's happening is is because they had a one child policy in china if you want to have a second child you would you would have to distribute funds what up chico sorry a little bit oh riot i don't know why automata zap that but i got to approve it no worries riot we're having fun we're going through some data population charts for countries right so what's happening with china is they're gonna have a huge senior citizen population that is not going to be working and their core youth that are going to be generating income there it's not going to compensate for the elderly right if things continue the way they are that's why china i believe recently took away the one child policy and said you're allowed to have two kids or more i think but i think two for sure in the last few years okay because they see the data right they look at the mathematics of it they look at the calculus of it they extrapolate it over time okay so keep these in mind this is two core graphs that you have to keep it back in your mind as a basis of what we're talking about when we're talking about the great generational transfer of wealth okay and this also applies to different countries have different rates of this different distributions now let's take this down in economics geography demography and sociology the depends dependency ratio is an age in an age population ratio of those typically not in the labor force and those typically in labor force per wikipedia cool so what do we let's read that again in economics geography demography and sociology the dependency ratio is an age population ratio of those typically not in the labor force and those typically in the labor force so basically what that's saying is it's just ratios right proportionality you can extrapolate and do this and do that but basically i'm not sure which way the ratio goes but you can put the number of people that are not working age population ratio of those typically not in the labor force so whenever you say ratio of this compared to this you go the people not in the labor force divided by the number of people in the labor force and you get your ratio right so if it's if the ratio is one i haven't looked in this you can correct me for one i'm just going by what the definition is here and me being able you know speaking rudimentary mathematics and translating that into an equation right what that basically means if the ratio is one it means you have an equal number of people not in the labor labor force as you have in the labor force so if the ratio goes above one if it's two to one right then the ratio is two it means you got twice as many people not in the labor force as there is in the real labor force and that would mean disaster for a country right i believe it's supposed to be less than one at least it was when i was getting my financial industry search yeah or ignore that i'm thinking of something okay but that's exactly i think what it is if the ratio is 0.5 right then it would be one to two right so you would have two people working for every one person that is not in the labor force which i don't know what a good ratio is but from what sector well he said ignore it but it would have to be less than one you want more people in the labor force than not in the labor force right now keeping those population things in mind take a look at these two charts it's actually ages 0 to 14 ages 55 plus and 15 to see so ages 15 to 65 work and ages 0 to 14 and 65 plus don't so if you have a population chart take a look at this let's bring one up actually let's do the united states or let's try now let's do the us where are we here's the us let me make this chart bigger we can take a look at the we can figure out what the ratio would be right now i think this is 2015 yeah it's gotta be 2015 because it's got it there let me step over to the side so we can count all the number from let's say one to 16 right because we don't have 14 mark there so one to 16 we got 773.6 million and 65 plus so if you go let's say 69 plus right so 73 plus 28 so let's say that's 74 plus 28 plus another 4 28 plus 4 i'm looking at the far to the far end two guys right so that would be 32 the people who are older than 69 let's say that's 32 million plus 74 million what is that 32 plus 74 30 30 plus 70 is 100 you got four plus two so 106 million people and the rest of it you have working population right so let's say 100 million you united states has 330 million people right so let's say 300 million people so the ratio for the united states would be one to three so it's 0.33333 which isn't bad right but that number would be less because it's supposed to be from 65 plus and you know you take out a little bit on the 16 side to 15 okay i hope that's clear that's something since we start talking about it might as well address it now keeping those population graphs in mind take a look at this this is the graph this is for 2013 i'm assuming it's the united states okay ipad is good it you know what right now for the united states it sounds good but they're worried about the great wealth transfer right there's a lot of baby boomers that are retiring okay and we're going to take a look at this and you have to really associate that with where the wealth is locked up and most of the wealth is locked up and as this chart shows median wealth by age okay we're going to look at another one that's better than this but let's talk about this one for for now okay let's assume this is the united states so if you look at this thing uh dollars and thousands right so majority of the wealth per person is the elderly that have it to a certain degree that makes sense because the youth haven't entered the workforce right now let me bring up this chart this graph i'd like this one better here's this guy okay let me make this one a little bit bigger what do we got here average family net worth defined by the value of all assets like cash stocks and homes minus all liabilities by age of head of family right so if you're a single person living by yourself you're however old you are and how much wealth you have if you're a family of whatever number you might be they take the age of the head of the household and they've calculated how much wealth they have and again that you see right now majority of wealth is in the hands of those who are older right you have age 50 mark there with six hundred and twenty thousand dollars right that's and by the way a lot of that wealth in the united states in the western world including canada is locked up in real estate that's why when the 2008 financial scam right the biggest theft in human history took place i want to make this a little smaller okay so i don't have to lean over i got to invest i ain't about to inherit anything out there we'll talk about that right investing for sure what are you going to invest in right sleeping that's the question so if you take a look at this graph right what's going on right now everything being locked up in the hands of 50 plus more than that 60 plus years old 55 and i believe baby boomers goes from whoever's 55 right now to 60 something right now or 70 something right now this is like two decades or less a little bit less than two decades they take right i think anyway okay it's if you take a look at that in that chart a huge chunk of that sandwiching the peak is where the wealth is locked up and a lot of that is in real estate which is why during the 2008 theft of the world's wealth was focused in real estate and that's why the centralized governments just gave away money to the banks and the landowners and the rent seekers to prop them up because they didn't want that wealth to depreciate because if that wealth depreciated then the paper on paper wealth of a nation would depreciate right it was sort of a do or die situation for all of them to a certain degree if they wanted to keep the pretense going okay i'm invested invested what chicho tells me to buy lots of comic books no no don't you're gonna know what you're doing right to a certain degree unless you're doing it for pleasure then by all means go ballistic okay now keep that in mind okay now since we're looking at charts i'm going to pop up a couple more charts up here that's your morning a couple more shorts here's a chart i came across this is household wealth including pension wealth and this is wealth based on status in a society specifically in the western world i'm investing in myself the best thing you can invest in riot in yourself your family your friends your community your health your the food your wisdom your body your mind nothing even comes close ask anyone who has a hundred million dollars in the bank and has no friends and no family and poor health and ask them if they would switch places with someone who is in phenomenal shape good shape good health okay who has zero money in the bank and maybe even has one or two friends and one or two family they drop that hundred million in a drop of a hat and take the other person's spot okay what sources are the graphs coming from nicolas brother i just went down a rabbit hole this is what i did i didn't want to i will talk about this during you know there's a there's more to this what i'm showing right now right i will put a series together and i have laid it out for personal finance and economics that we're going to do for asmr mouth where you shoot where we're shooting it with the hd camera that lapel mic and edited version with all that stuff i'll provide all the sources for anything i put together in an edited format okay i was going to put grab all these but i left a lot of graphs and charts on the table because i didn't want to overwhelm i just want to get the general gist of it so i didn't jot down where i was getting the stuff from and for me it's not as important uh where this data is coming from right now as the general gist of the feel for what this discussion is all about and what all the concern is all about because this is the first discussion we're having regarding this specific topic i true i i i do not take this data okay please do not take this data as the be all and end all an absolute truth i didn't dig down to confirm any of this data and i only do that if i if if the data is triggering some kind of alerts for me okay so because i i really don't have a research team working with me i'm doing all of this on my own right so um there's only a certain amount of time i want to sort of get plant seeds so people can do their own research as well okay i've seen you link to sources before we just curious i agree you had a stream to set up yeah no we're just looking for trends and correlations yeah we're looking for trends and just to have an appreciation of what this discussion is about and how this is going to affect all of us okay me being in the mid-age range half a century there's a lot of youth below me i'm assuming i'm not sure how many people are here that are older than me watching this but it's affecting them in a big way okay this stream by the way as far as i'm concerned is one of the most important streams that the average age group if you look at it on twitch should be watching but if because it affects them more than anyone else okay and we'll get into why okay so this graph here is basically you know according to whatever side i pulled this out of was basically the wealth again quotation marks the wealth of individuals or households that are engaged in certain types of you know they're either certain type of class or they're they have jobs in a certain field or a piece of paper that tells them who they are and whatnot right and you can take a look at this it's you know large employers and high high managerial positions have the most wealth okay they also have the most liabilities in in a big way as well they have a lot of liabilities if the real estate values drop per 2008 with bubbles and the bubble is huge right now if they drop most of those high managerial positions these employers corporate all of those things have loans against their assets right so for example if they have a property that's worth a million dollars right and they've taken loans on that property of a million dollars let's say they've taken half of it in loans right 500 000 in loans right and a lot of institutions will say we're willing to loan you half the value of the assets that you have solid assets not fluctuating assets like something that doesn't depreciate over time right let's say they're willing to you know a bank is willing to lend you half of the worth of your assets so on a million dollars a bank would lend you five hundred thousand dollars right and you're going to assume that your value is going to increase over time because it's land right that's what they say so you borrow half a million dollars now what happens if that land value now drops in value goes down to seven hundred thousand dollars then the bank according to the papers according to the laws rules that they have they can only lend you out three hundred fifty thousand dollars that means you're going to get a margin call for a hundred fifty thousand dollars and those people if they have stuff locked up what they need to do is sell property they don't have any liquid assets they have to sell assets to free up a hundred fifty thousand dollars and if there's a lot of people in the situation it's snowballs and properties keep on dropping because everyone's trying to liquidate right to cover margin calls and debts callbacks and stuff like that okay so this doesn't really mean that people in the higher level here can spend anything they want buy anything they want they have free cash and the money in the bank and stuff like this this just recording wealth according to whatever the banking systems record right so then you got higher professionals lower manager professionals intermediate occupations or supervisory blah blah blah to people who aren't working obviously they have less monetary stuff right like for example if you consider this some of the some people that well we won't get into different disciplines i might get into it we'll leave that alone to see if the discussion takes us there right so keep this in mind as well right and always always keep this population thing in mind right and you keep this population thing in mind the population density of a country and keep this in mind where wealth is locked up right and keep this in mind where'd it go age you as well oops not that one yet not that one yet where'd it go hey where'd it go wow age age distribution anyway the other one where is it oh we already did that one oh yeah jobs there just my apologies i'm flipping things i hopefully didn't get busy okay and keep that in mind wealth for jobs right so older people would have gone into a higher level managerial position and stuff like that so all of these charts are related right so you know someone just starting out they're not going to get hired as a top manager they're gonna have to start in the lower level and work their way out sort of pyramid scheme if you want to think about it or a step ladder you know however way you want to think about it right and then i want you to take a look at this right now what we talked about was in 2008 when the scam happened or the bubble burst the scam was being built up for two decades pre that right and for sure for a decade before 2008 with all the regulations being taken out everything kicking in now in 2008 and this unfortunately goes on to 2013 but it should tell you a lot because this is middle class you know it says middle class wealth has collapsed and it has in the united states specifically because in 2008 a lot of the middle class bought into the the hype and they over leveraged and bought houses they couldn't afford the banks were willing to lend them the stuff because lend them the funds on robosign fake sign just the bureaucracy is so intense that as long as you're in the top level of the bureaucracy where the paperwork you can shuffle as you know it's going through your hands you're giving the okay to things you can gain the system any way you want and the banks gained the system gave money people that didn't fit their criteria robosign fake sign mortgages to people it was ridiculous right so the bubble built up and the middle class in the united states felt wealthy wealthy wealthy and then the bubble burst and the wealth of the middle class dropped for 2010 it went from 115,000 in 2007 to 64,000 in 2010 and 63,000 in 2013 and stuff like that so this played out in the big way in the u.s political system specifically for the 2016 elections right because you would have the democrats obama and clinton's is this uh corrected for inflation i i didn't go dig down deep enough okay might be might not be and inflation the cpi right now um is yeah at the end it says 2000 does it say 2013 awesome it is in the title okay awesome 63 sounds about right okay cool so basically uh and by the way just regarding inflation right if you correct for inflation this kicks up a little bit right let's say 64 if it wasn't correct if it would go to 70 the the well the middle class wealth dropped huge huge and inflation doesn't really account for anything the government inflation numbers it it it's fudged okay so the wealth dropped and in the build-up for the eight years that the obama administration was in power they kept on coming on television saying the country's improving the country's improving the country's improving why was the country improving with us the stock market was going up but the majority of the stocks on the stock market are not held by joe blow right they're held by institutions by by hedge funds by the extreme wealthy and blah blah it's just transfer of wealth right so the middle class was going what are you guys talking about we're not doing better i mean if you look at this by 2013 people were still half not half but 60 net wealth wealth right and keep in mind as we talked about if you had a house and the bank was willing to lend you half the value of the house to you and the house value is lower now and you had maxed out your credit with them you had to pay that money back and you couldn't buy as much now because you had less money and there is like you said inflation so it's just whammy after whammy after whammy right which goes to explain when people say what was obama's legacy obama's legacy was trump because they lie through their teeth coming on television saying that the nation is doing well but the middle class was not feeling it right in the outside of the centralized place centralized locations where power was held which is new york city and california hollywood and all this jazz right a lot of ordinary people flipped underwater while the banks were bailed out 100 percent i mean we can get entered out of the bailouts of the banks america bank of america was demolishing houses right that no one was occupying because they had bought so many houses right they wanted there was too many houses on the market they didn't want the prices to continue to drop so they got rid of some supplies so they could pump up these houses right neoliberalism has reached the end of its rope i agree with obama but i don't think he could have fixed it we see we see we're headed into another recession again sector obama could have fixed it right very simple they should not have taken taxpayer money trillions of dollars when the federal government took on the debt of freddy mac and fanny may they took on in overnight just a signature they took on four and a half trillion dollars worth of debt what right huge they could have prosecuted those people that committed these crimes right they could have bailed out the american citizen they could have done many many things okay they didn't because they're part of the scam okay yeah they were coming up with ways to forecloses for sure they did robos just look up robosigning incredible who is more to blame bankers for predatory lending or the middle class americans for making bad financial decisions without doing their due diligence as we talk about whiskey the tax i'm going to take down this chart for now okay since we're doing a discussion i don't want to be think that everything's based on this one the laws on paper right now the bureaucracy on paper right now is so complicated that joe blow really doesn't know what they're signing me and you when you given a stack of paper this big to sign from the bank you don't know what it is that you're signing really do you have you read all the terms of service for twitch for youtube for whatever platform you're on no it's too much right and those are just a few pages just imagine having to go through all that paperwork you won't you're just having to get it and the bankers the experts are telling you that interest rates are not going to go up they're telling you that these rates the rating agencies on wall street government rating agencies the securities exchange commission and all this jazz they're rating debt at as triple a that means the government of the united states was lending out money officially saying to investors that this debt that they were taking on was triple a it was the best protected most reliable that you could buy and then you found out that those are junk i'm sorry the Joe blow me and you could not even though for me i looked at that stuff i wrote articles about it starting in 2016 2007 2006 and 2007 saying that hey there's a huge bubble brewing and the crap is about to hit the fan right even i could see it coming by looking at data like this okay it's where we do diligence exactly what country was that where their bank executives sit in jail now iceland for doing what they were doing in the u.s iceland iceland prosecuted bankers it was the only western country that i know of that sent bankers to jail okay every other western country in the world bailed out the bankers they took taxpayer money and bailed out the bankers are you a teacher or something similar in real life you have a highly philosophical content very complex issue i love the mentors oh my my pleasure ran i teach mathematics not an institution centralized institution but privately and i'm building my curriculum online okay and by the way i saw a couple of follows happen on this thank you for the follows thank you for the subs if you've sub apologies if i'm not following the pop-ups coming up it just i want to make sure we're getting keeping the discussion going on planting seeds as much as we can so there's a nice picture being drawn up so thank you for the follows thank you for the subs everyone okay and that's what i do i i love data so my whole thing is i'm i love data i love graphs i love charts i love making predictions right so that's what i do that's why that's why the main purpose of my my my gig is right yeah you basically need a parallel paralegal to help you navigate us law now or or well if you have money you have you just have someone advise you how to take advantage of the system 100% i agree i mean i don't believe it's flexible under capitalism the content constant demand for GDP growth while simultaneously paying paying low wages leads to a situation where products can only brought on a credit which keeps getting extended until the recession happens then it recycles paradox yeah for sure yay Iceland yeah yay Iceland and GDP is a garbage number gross domestic product just to give you an example if you want to figure out in general sometimes this the system this analysis doesn't work in general if you want to take a look at an economic system or any type of system if you want to know if it's if it's a legitimate system if it's going to work for the long run just take it to the limit so for example in regards to GDP GDP of the united states would go and Canada or any country would go through the roof it would be huge right gross domestic product their growth rate would go through the roof that would be the envy of the world if everyone in that country got cancer and had to do chemotherapy radiation cancer treatment swallow a lot of pills right because they would be consuming product right it's not about production it's about consumption in the short term their growth rate would be amazing through the roof through the roof i tell you right and because youth are more resilient than the elderly the elderly would die off faster so the population chart that we're looking at this chart we're looking at the elderly would drop off faster which is good for the ratio of working class right and the youth would drop off slower and they'd be on medication for longer periods of time right so GDP is just pure garbage okay it does not record the health of a nation it records the consumption of a nation whatever the consumption level might be now yeah what about how how where you see companies building products that are made to fail sooner so that instead of selling a washer once every 10 years you're buying a washer every five years yeah it's insane right planned obsolescence that's what people called out apple for their iPhones yeah it's like how how do you fix the planet if we have a system in place to pollute the out of it and those companies are rewarded yeah because what is happening is they're getting profits for the short term and as Chris edges would say creating sacrifice zones okay in parts where they're extrapolating resources are dumping waste right they have no skin in the game in the long term because they're not paying the consequences of their failures in regards to the environment and to future generations right polluting the water polluting the earth creating cancer creating diseases and whatnot right it's insane okay so that was the wealth stuff so middle class dropped on wealth now they're feeling better because house prices have gone up again the bubble has grown again and stock market is up again but stock market doesn't affect really general drill blows much okay no consequences all within the system none and then this graph I have here okay this people would have seen before this is basically the distribution of wealth in the united states and this percentage of the population controls this much of the wealth right so one percent of the population i gotta pop a struggle i'm talking too fast so one percent of population in the united states controls 43 percent of the wealth the next four percent control 29 percent of the wealth the next 15 percent control 21 percent of the wealth and 80 percent control 70 percent of the wealth right so the top five percent of the united states controls what um two one 72 percent of the wealth is in the top five percent of the population in the united states okay keep that in mind should i pop up i'm gonna pop up the population chart for this again real quick on over top of it oops i can't do it over top this is a layer differently so here's a population chart okay keep that in mind and then we have let me take this down and then we got this chart where the wealth is which is the older you are the more wealth you control in general right and then we got this guy right now top five percent we can't think of that as individuals those are families that own that right there's very few people that i know of it's a single person without a family that's in top five percent that you know controls 72 percent of the wealth right i doubt if there's very many usually there are dynasties or families that control a lot and stuff like this okay put this together with where the wealth so-called wealth again quotation marks of a nation is locked up which is baby moomer plus okay you got the youth coming up trying to get experience you got differential accumulation taking place where money begets money and all you have to be is about the averages which we've talked about okay i'll link it up to the video again this video if you want to know what it is i'm mentioning here right you want to beat the averages and the top five percent in general is beating the averages because they're getting money to get money they're getting dividends money working for themselves they're not getting paid per hour right if they have if they're rent seekers right they're not contributing anything to the economy they're just collecting rent from what has been there before or has what has been passed down to them right and in regards to passed down to them okay here is uh another thing i came across where it says where the super rich inherit their wealth right so Australia, Sweden, India, Germany, Italy, France, blah blah blah you go these countries and the super wealthy is a huge chunk of it is not coming out from the bottom up but it's top down being passed down right top down being passed down which is something important to consider okay and this is another graph that i have here which is uh billionaire age distribution again you see that most of the billionaires in the world are 50 plus whatever it is let me know if you want a moment to bring up any of those charts again okay now all that data laid out China is surprisingly uh low on that passed down wealth chart for now right China had a lot of youth coming up the industrial revolution i forget what the terms used for the they kicked it up in the 1980s the growth and development and entering the global economy right they've generated a lot of wealth right off the bat China is going to have this problem and it is to a certain degree having this problem right now because China is in super speed mode right China's like internet right it took decades for for this whole thing to play out for legacy countries right where capitalism has been rolled out for a long time like canada united states and all this jazz right China was new to the system okay one of the reasons being because of technology the internet and stuff kicking in take what's happened in China the last 30 years and if you lengthen it that's what's happened in the western world most western countries over a century or two centuries okay so China is going to face the same thing okay same with india all countries are going to face it because it links up to differential accumulation money begets money in our current economic system okay so here's what's playing out when they're talking about the great generational transfer of wealth okay there's a lot of wealth locked up in the older generation right let's say 50 plus but it's not really 50 plus it's more 55 60 plus okay a lot of wealth locked up in that sector of society okay a lot of that wealth is in real estate okay land which is one of the reasons where centralized governments are propping up land values as much as they can for as long as they can okay making sure there's a lots of regulations for really they have their hands in the cookie jar so everybody's get their hands in the cookie jar in the real estate market right now all of that wealth is locked up there as people are aging they're having to sell land property and stuff like this to liquidate too because they're not generating enough or enough as much as much funds as their prime age where they were working right so they're using up those funds and a lot of the extreme wealthy or wealthy if you're in the five percent top they're they could spend 24 hours a day seven days a week 360 365 days a year for for decade and they wouldn't be able to use up all the money they have really right so that five percent is locked in a lot of money that older generation the baby boomers has locked in a lot of money and they're slowly dying off right and they're selling assets and that money has to go somewhere so there's a lot of predators right i'm sorry i'm not gonna read i'll read that as soon as i finish this train of thought okay there's a lot of institutions and predators feeding on the elderly right now right to get their hands in the cookie jar into that wealth right made be through old folks homes made be through pharma pharmaceutical industry made be through the natural health industry made be through the investment sector finance sector where they're trying to get them to you have to be careful you have to save your money you have to do so there's a lot of older generation people baby boomer plus that are sitting there's wedding right worried about their wealth that they've built up for this long so there's a that whole play happening there's also a play happening right now where we're going through a phase of technological automation taking place i'm we've talked about automation and personal finance and economics and stuff like this okay so there's a lot of automation taking place so the job industry shrinking a little bit thank you sirius for the follow there's a lot of the job industry shrinking right now the uh introductory job sector right so there's a lot of youth that aren't able to get a good start into the job market where they're making a good living so they can take their money and put it into this system that has been established to allow money to be get money so they're falling behind as poor discussion we had regarding differential accumulation with that video right so there's a lot of youth coming up saying okay they can't there's no way they can make enough money especially if you compare it to housing real estate costs right like the ratio of what your general income was 50 years ago to what a house cost as compared to now is astronomical right in the past you could buy a house 50 years ago you could buy a house work your house off for about five years six years ten years pay off your house completely right now you could buy a house work your house off for the next 20 years and still not even own your house okay so there's that happening right there where there's a lot of youth coming up that are related to all this generation up here that they're seeing this generation have extreme wealth locked up in different places and these guys are coming up going okay we don't have anything we can't afford to live away so we're living with these people right and we're waiting for these people to die the older generation to die to inherit that wealth so there's a whole sector whole industry set up on trying to get the eyes the attention of the youth that is going to inherit this wealth try to convince them to take that inheritance and invest it with them or spend it with them so there's two sectors being played right now two sort of feeding frenzy going on where there's a whole sector that's trying to get the elderly to spend their money with them and there's a whole industry whole sector is trying to get the youth to spend the inheritance money that they're getting with them okay that is the great generational transfer of wealth how is this going to play out who's going to get whose attention where is that wealth wealth money going to go because this youth can't afford to buy stocks and prop up the bubble on the stock market the way the older generation that because these guys are selling the stock market so there's a whole asset shift taking place as well right this older generation was invested in something that they're trying to sell right now and there's enough funds coming up to buy these assets so first in first out is going to be crucial in some industries i'm in that five percent working by myself now and as i gain more money i've noticed it continues to snowball the purchasing power i have now compared to the purchasing power my mother had living in poverty is insane we would struggle week to week and i don't even think about it now i've been told i'm the american dream and when people tell me that i tell them the american dream is long that agreed with you right the american dream is long dead and good on you brother for being in that five percent and we've talked i know you're doing it right right but for those who are you know they don't know they haven't been around long enough or they haven't followed some of the conversation one of the places riot is investing his money and funds and time and energy on is his health both physical and mental right learning about different ways to make sure you remain healthy because one of the main things that bankrupts people is depreciation of health deterioration of health because as soon as your health goes down the toilet your expenses pile up and you're not working as much and you have stress on you so you make wrong decisions okay for young people it's like joining a game of monopoly after people have been playing for a hundred plus turns agreed he rolled the dice let's see who you're gonna be paying right and those guys who paid for hundred plus turns are trying to give everything they have to their kids yeah and they try to convince their kids live in build a bubble around them they don't realize those kids can't live in their castles and their bubbles forever they're gonna have to go out and they're gonna be exposed to the real world and during that transition their adjustment to the real world of what's taking place there's a lot of people vying for their interest and trying to get them to spend money with them or scam them or destroy them right like the money that Bezos has is above the law and if that money can go generational a lot of money is not many people's hands and with automation there won't be many others out of the hamster wheel agreed 100% right and the one thing we have to appreciate as well I mean when we're talking about Bezos we're talking about Amazon Twitch is Amazon so we're talking about platform that Bezos controls right that is going to be transferred over so what's going to change things up are Bezos's kids going to realize the problems right and are they going to divest right from the path that Bezos has put them in right are they going to contribute back to a global community or their local community or into the environment and to the political what are they going to do and what is the vision that they have because with that wealth comes power as if you do a search for capital's power and again it links up to differential accumulation right this video in the description of videos is a lot of links that take you to the appropriate websites where we talk about this right how is that wealth going to play out okay for every one of me there are nine that fail to get where I am it's not a dream it's a nightmare for me those are brothers aunts uncles falling by the wayside of capitalism yeah yeah more money more problems biggie biggie biggie people with a lot of wealth are always going to find ways to hoard it being a loophole being a loophole or offshore bank account or whatever here's the thing wizzy the most the extreme wealthy the 0.01 0.001% can do the offshore stuff that 5% we're talking about majority of 5% is not doing the offshore stuff okay they can't even afford to do the offshore stuff so they're already behind the time behind the wave right of that 0.01% and the end result of capitalism capitalism is complete fascism controlled by one entity or one corporation okay or one individual right if we consider this system to be capitalism which I don't right there are present economic system in the western world is not capitalism it's crony capitalism plutocracy technocracy whatever you want to call it but it's not trade among people free trade among people it's it's something else right it's monopoly creating monopolies to control the population a centralization of power right that's what it is okay and that's what the end result of our present system is one person owns everything maybe that's what people want I'm not sure it's definitely not what I desire right if even if given the choice to own everything I wouldn't want to own everything it'd be insane you'd be insane whoo that was like an hour of little discussion of what all this was about I should have recorded this loaded this on youtube but it won't be maybe I'll load this on to youtube I'm not sure I don't want to get burned by youtube by loading on twitch stuff on there because we're deleting accounts that have been loading stuff but I might load this on youtube just just because it's important information to have and at some point we'll create ASMR math videos on it what do you think needs to happen for the wealth to spread on America I've mentioned this before it's going to take a long time okay one of the first things that needs to happen is the next government coming into power they have to start the they shouldn't be allowed to pass any laws right so as far as I'm concerned any government had come into power my ideal situation would be their platform would be this they would come out and say we are not here to create more laws our main platform to start repealing laws and they would sit down and go through books stacks of laws for their country okay or for their region and they would start eliminating laws really prohibition is one that needed to be gotten rid of right and it's not just prohibition of cannabis there's prohibition on many things in every country because right now I mentioned this on previous streams everybody in every country is a criminal because we have all committed crimes according to the legal system everybody's committed a crime have you jaywalk you're a criminal have you driven have you gone beyond the speed limit you're a criminal right have you have you done a number of things you're a criminal everybody is a criminal right so when everybody is a criminal in every country there's something wrong with the system you need to start repealing laws get rid of laws right that's the first thing and as soon as you do that you're going to have decentralization of power which is what we're talking about you need to decentralize power on the extreme front you need to start taking a look at countries land masses and making sure the people living in a water reservoir have control over those resources because institutions are coming in and creating sacrificed zones as chris hedges describes it in days of destruction days of revolt going into a region saying okay we need the resources in this region may be water and may be oil may be gas may be gold may be coltan may be whatever it is they're coming into that region saying we need these resources for this corporation over here right to create these products over here to be shipped over here to be assembled over here to be distributed around the world so sorry for the people that are living over here with these resources we're about to get out of town and that's when you start seeing huge mass migrations happening people escaping and making their way to all these other countries and these people over here are going wait a second hey why are you guys even coming over well because your corporation is with healthy requirements that came over here uh uh why do you think we're here because we got no water to drink we got no air to breathe we got no farms to get our food all your rich people have come in and bought our land we got nowhere to live we got to get out of town all right i mean the uh chiquita bananas is chiquita bananas the banana wars uh like the banana wars in south and central america there's a reason why they call them that right all you have to do is read the smetler smetley butler's war is a racket here i made a video of it reading that book war because this important book is war is let's this pops up the videos war is a racket here you don't have to listen to this videos asmr format it's it's me reading the entirety of war is a racket but general major general smetley butler okay and this thing this thing is a must read for anyone to understand what our present economic system is all about right which is which is basically um what do you call it uh the military being used to extract resources from different countries okay thank you very much double Elvis for taking care of business nice awesome awesome okay so there's a lot of stuff going on in the world and this transitional wealth is playing out right now it's taking place at the same time where we're seeing globalization where we're seeing technology being rolled out where we're seeing automation taking hold nice where we're seeing automation taking hold okay where we're seeing the job market deteriorate for the youth where we're seeing nationalism taking hold huge migrations war being waged in for the craziest reasons convincing citizens of certain countries for the most absurd lies you've ever heard or rounding them up to go to war with people that they have no quarrel with right so there's a lot of things taking place and there's a lot of wealth that a lot of institutions are you know rubbing their hands they got their eyes on them saying okay we want that piece of the pie okay how do we get that piece of the pie well here's one of them right now in canada right for the elderly i'll give you an example because i know people in the system for this right in canada right now if you're a senior citizen and you want to you know you want to remain semi-independent or you need to go to a senior's home right and in the western world senior's home i don't know how prevalent this is and other parts of the world because families are larger and and by the way the big line that was sold in the western world was institutions embedded themselves forced themselves into families right so parents and grandparents older generations instead of taking the funds that they had and investing them in their children and the youth they took a huge chunk of that money and put it into wall street right and they gave these huge institutions control over a lot of wealth right and if they did that that means they took wealth away from their families they couldn't get a better education better health care and a lot of different things right because those funds and better food a lot of people you'd be amazed they say they can't afford organic food because it's too expensive meanwhile every year though max out there are speeds or whatever it is contributions which to a certain degree they need to because the system is all messed up right to put money into wall street right so they're passing on better food because they need to put money into wall street crazy right and for senior citizens senior homes just to drop an example in canada if you need to go into senior home care you're talking about it's going to cost you on the low end which is a crappiest place you could go to anywhere between three to ten thousand dollars a month right so just imagine if you're 70 years old you're sitting on this wealth house that is appreciating values cost two million dollars right you sell that house you got heirs but you can't afford to pass on that money because you don't know how long you're gonna live right and what drug expenses you have right health care expenses you're gonna have you're gonna have to pay ten thousand dollars a month if you want to live well well enough anyway ten thousand dollars a month with senior health care place not including your drugs and all your extracurricular activity to live months per month in one year you're spending a hundred twenty thousand dollars just on housing rent not including food drugs and all that jazz if you sold your house for two million dollars how long is that going to last 15 years 10 years max right most spot of two or index today weird same chat without them i think index is here but yeah for sure spot of tea i don't think could i i don't think you could have made it today i think he's going to try to make it to the cooking stream tomorrow i'm gonna go shopping after this go get us some supplies go get to go get some onions and chicken and i got a list over there i go buy some stuff to do our cooking stream tomorrow but i think index was here he was here anyway but thank you double levels for being here and taking care of business fun okay so there's a lot of stuff taking place and this is what and by the way we're doing this stream thanks to riot because on discord he mentioned that i believe it was riot on discord where he mentioned it would be fun to do a stream like this at some time and i went man let's do it let's do it right now so i set it up for this set of streams we're going to do you're such a soft-spoken man it really is like a smr educational thanks man i tried to it's it's something i just picked up working with students right i am intense like what we're talking about right now is extremely intense but uh i don't want to get people anxious about it because this is just data it's just a system you can choose to function whichever way you want within our society within the system right you can function outside of the system there are a lot of other alternative systems here in play right like all of the stuff taking place right now you'll see data coming out of different countries saying oh you know in Greece they say 50% of the youth in Greece is unemployed right i don't think 50% of the youth in Greece is unemployed okay and i don't think they are unemployed they're doing trade transactions that the centralized state has no way of recording right so there's a lot of interaction commerce taking place under the table between parties individually either with cash or with barter system or favors or time served or whatever it is right which is one of the reasons why centralized powers are trying to eliminate cash because they want to be able to maintain control over every single minute transaction taking place in a nation because if they can do that then they control everything and there is zero liberty zero freedom and you better just pack up and leave that country okay and that would like firm like if everything in the nation goes cashless you're you're in a complete totalitarian regime and that can turn dark overnight that's what we've learned throughout history so that is definitely not something you want to do you don't want to exist in a location where you have no control over anything you do on a on a private level you have zero privacy zero anonymity that's that's a that's a road to disaster life is good doing good brother how are you nice stream i'm talking a lot but i'm dropping a lot of data i think down no i just i'm talking rapidly so my voice is getting rougher and rougher yesterday we did a two-hour stream so and i talked a lot co-ops yeah co-ops are amazing i'm all pro-co-op man or type with one hand yeah but i can't do i don't like it china is doing pretty well with the cashless policy uh the we chat is making wonders in the market yeah i have friends that visit china and they said like five years ago six years ago they went they could buy stuff cash on the vent with vendors on the streets and they went like a couple years ago or a year ago and most vendors didn't take cash they looked at you funny if you gave him cash use your phone to do stuff right um i personally would not want to be living in china in a system where it's cashless i wouldn't do it okay i know a lot of people like going there visiting and at some point i might visit but i wouldn't want to give up all that control where everything was under and it's basically they got the karma thing happening right now if uh you know you have i guess i forget what they call it citizenship points if you if you're it's not a credit rating it's your social activity rating if it's a low then you can't get a loan you can't get on planes you can't do this you can't do this that's scary as what's the ideology you would say you can connect with i don't know red i know i connect with certain people that i that are in the limelight right but i don't know everything about those people china is totalitarian 100 percent china is totalitarian but that's the end of capitalism china is a complete totalitarian capitalistic state that's one of the one of the reasons the united states are so scared of it because it's complete centralization of power the united states still has internal conflict right there's different corporations monopolies or monopolies there they want to take all those monopolies put them into one place to be able to compete with china is that what citizens of the united states want do you want to be able to compete with china in this economic system because you would have to implement almost everything they're implementing plus more communism anarcho syndicism socialism oh man i associate with many of the red i associate with many of the core beliefs of many of those disciplines i guess if you want to call them i would say my core beliefs privacy anonymity i don't believe in totalitarianism i don't believe in centralization of power because throughout history we know what happens when powers completely centralized centralized powers commit genocides period anybody who disagrees with that knows no history right based on probably the most bastardized reading of marks based on probably the most bastardized is that what you oh the uh you mean the china sector to a certain degree i agree with you it which is basically some of the greatest belief system philosophies in history have been hijacked by centralized powers and totally distorted and they end up being complete opposites of what they're supposed to be representing right so words get hijacked vlf hearts 730 tomorrow vfl i don't know what vfl means vlf what do you see as a downfall for the cashless system if it was covered earlier please oh oh overlook this uh the downfall uh the downfall of a cashless system you mean the negative aspects of a cash cashless system there is no privacy no anonymity the state can do anything to anyone at any time for any reason it wishes to do it and right now in the western world where corporations basically run the state that means we're all screwed right that's the drawback of a cashless society the the downfall of a cashless society that anything can be hacked right right now we don't have as far as we know any quantum computers that have rolled into play but as soon as quantum computers roll in right and they will at some point right then forget about every type of encryption that was developed before the quantum computers rolled in because everything's accessible so as soon as someone gets a hold of that they can do anything they want to the complete system they can go into a whole nation and press a button and delete everything some people would think that would be amazing right delete everybody's bank account so everybody starts off from base level but that really wouldn't happen would it cashless system the downfall is centralization yeah in reference to china they talk about having socialistic billionaires like jack ma that can't even be a thing that's crazy uh china is very nationalistic that's the one thing with that's the one thing that people don't really appreciate there's absolutely no way the united states can compete with china and china's game right because in china people will sacrifice much for the chinese nation right their anonymity their privacy their wealth their family their it when the cult arms comes the chinese nation will rise right when the cult arm comes in the united states at present there's absolutely no way most of the nation will rise and they shouldn't because the the united states has done this so many times and it's come out that they lied right all you have to do is go back you can go pre-golf of tunken but you can go back to the gulf of tunken right the vietnam war and then take a look at everything else that's come before that or after that you're gonna look before that too but after that and anybody that knows us history will go look man we can't trust the nation we can't trust the government they're lying to us look at what they're who's in power who's coming into power how they're linked up with the banking system wall street the wealth the wealth of the middle class dropped right in 2008 why would those people whose wells dropped by 50 percent why would they trust the nation again when they took their wealth and gave it to wall street gave it to the banks why would they it doesn't make sense and you also have to consider life standard is dropping in the united states in china for the last 30 years really the life the standard living in china has increased so they're rolling on a positive it's like the united states in 1950s they're rolling on a positive they've given a lot to the general population in china while in the same period in the last 30 years the united states and western governments have taken a lot away from their citizens so it's two different games two different games being played right now chinese government has a lot of goodwill with the chinese citizens the united states government and canadian government and western governments do not have a lot of goodwill with their citizens look at what's happening in france wow beautiful right people are saying enough enough right we'll see where that leads but i don't think it's going away basically in the cashless system they can take everything you own overnight if they wish wish wish so yeah and your families and make you criminal instantly they could transfer like like one of the reasons i did a reading of vault seven right we did a reading here let me grab that too chicho vault seven point let me grab that video here's a whispered reading of wiki leaks vault seven okay release that they put out now the reason i did this reading because i wanted to be able to refer back to this right and this is one of the most important releases that has happened through wiki leaks okay and it basically says that right now online agencies in the united states specifically and other nations can do anything they want they can hack into any system and they can leave a footprint where the dna where they can put the blame on someone else right so basically they can go commit murder and leave the fingerprints and the dna of someone else that hasn't even been there isn't even the same country maybe on the other side of the planet on the crime scene and the investigators would come in and say oh look this person that lives on the other side of the planet that's never been here didn't even know this person committed to crime right they can leave the footprint of any nation any institution on any digital hack or any digital footprint they want uh for anyone right if they can do that in a cashless society they can do anything to you that they want they can do anything to you that they want right look at what they did to scott ridder after he came out and he was a weapons inspector for the united nations he's an american top top of the weapons inspector for united nations okay an american citizen that was in charge of inspecting for weapons of mass destruction for iraq in the buildup to the 2003 invasion right the war regression that occurred for a couple of years through three years before that he was in charge of the weapons inspecting iraq he was coming out and saying look there are no weapons of mass destruction the united states government is lying there are no weapons of mass destruction we cannot go to war with iraq because there are no weapons of mass destruction this is a complete lie the united states removed him right and then they went to war and then they framed them for having some things right and after 10 years now he's 10 15 years now he's coming out of the woodworks again and starting to get his life back and start writing critique and saying what the governments are doing right they can do anything to you that they want totalitarianism is the worst possible situation patriotism is so silly it's not our country to have or to die for when they ask us to yeah you're not dying for the country your family your friends you're dying for the banking institutions which is basically what wars iraq is about right and general smetley butler basically was the most decorated marine in us history until like i think like 10 years ago right and he wrote the book in 1934 i believe right so at the time when he wrote it he was the highest decorated military person in the united states military right or marine anyway and until like 10 years ago he still retained that title and he came out of book he came out of he wrote a book saying that war is a racket and his only job was to go wage war for us corporations around the globe and kill hundreds of thousands of people like really straight out that's just as honest as you can get and that book as far as i know is not mandatory reading in any school that i know of not only in canada in the united states dante how you doing house knife that's one of my favorite books yeah the war is a racket is a short read fantastic read highly recommended and it's available for free online some of the greatest books that you can read are available for free online war is a racket is one of them education and the significance of life by krishna morty is another one and we've done excerpts reading of that right here i'll give you guys that link too chichu we've read excerpts of it we haven't read the whole thing the whole thing's a little bit longer than krishna morty's education and the significance of life let me give you that link we're having a heated discussion dante a good discussion necessarily necessary thing to talk about very necessary important especially for the average age that is on twitch right now because this is the age that is going to be inheriting the wealth from the baby boomers and 50 plus that the wealth that they're sitting on and there's going to be a lot of predatory lenders predatory businesses and some fantastic startups and disruptive innovation and technology coming on to play trying to get their interest so they will take the money that they're inheriting that they're going that's they're going to be inheriting to spend it with them or park it with them and invest with them my recommendation to that age group is do your due diligence and number one rule number one rule what is it what is it learn your mathematics because if you don't know your mathematics you're going to be a sucker your inheritance is going to be gone and you know it's going to be gone a drop of a hat i'm telling you that's one of the reasons i believe you know that math is one of the most important languages that you could learn thank you for the follow on you especially for the youth and one of the main reasons i think the centralized system the centralized state has deteriorated the math education in the western world anyway so much because they don't want the youth armed with the knowledge of mathematics because if they're armed with the knowledge of mathematics being litter in the language of mathematics then they're free human beings they can do anything they want if you don't know mathematics you're a sucker am i being harsh more strawberry okay so you are you are weak call me now or what okay so are we commies commies now or what communism totalitarianism only i'm a communist he says yeah radical communist all of us index how you doing i mean i am the only true communist i would say is sector here and he's not there there isn't there there's never been as far as i know sector might correct me on this never never there has never been as far as i know a true communist nation just like there has never been a true capitalistic nation it's always uh manipulated distorted version of what the ideology ideology was meant to be not really sadly now there hasn't been socialist there there isn't well he's here now yeah and that's the closest of fun we just we've just been going for an hour and 45 minutes i think so far that's pretty full on that's pretty full on that's good i'm gonna recover this topic i don't know how far you know i hope you found this interesting anyway did i miss some necessary modding sorry ever no double Elvis took care of it thank you double Elvis i take care of business there was one troll that showed up or automatically care of one and uh and double Elvis took care of the one pretty speedy ones out of style and it was weak weakish anyway trolling i wish the trolling was more intelligent trolling in previous forums i've been on forums for a long time since early 1990s they used to be trolls that were well thought out there are some trolls that have some objectives a lot of trolls right now are very weak don't call gobbling this totalitarian father stalingrad does great freedoms he defeated the funny little mustache so in summary if we ain't inheriting anything what should we do to each other excellent questions sleepy excellent question now in the personal finance playlist that we have i haven't grabbed it you can do a search personal finance if you go to my youtube channel you see a personal finance playlist personal finance playlist i listed five of the things that i would consider the most important stuff right you're investing your health and investing your education your wisdom it doesn't mean i've watched all of them no worries okay awesome sleepy so for sure look your health comes first really okay your health comes first because if you have ill health then you're burden on your family and friends which is it's part of the game that's why they're family and friends right but that means you're not generating wages you're not generating a living so if you have savings you're going to burn through those savings speedy gonzalez and there is a lot of health predatory institutions that are going to try to get as much money out of you as possible so health both physical and mental and spiritual is important okay maintaining your contacts is important and all that jazz so all that stuff taken care of one of the things you want to do is look into the different types of technologies that are being rolled out right now the disruptive innovation coming into play okay and take a look at some of the legacy systems and play legacy system systems that have been around for a long time and try to figure out for yourself which of the legacy systems are going to be still around 10 years from now right like for example last 20 years we've seen xerox and codac go down the toilet right that's large corporations go and there's been others as well right so you want to make sure you're divesting from institutions that really are not taking advantage of the technology that's playing out right now and they're not adjusting their behavior based on different corporations that are rolling out certain technology that is taking market share away from these companies right so that's one of the first things you need to do you need to take a look at the things and decide for yourself is this a viable place to invest in that includes real estate that includes the stock market okay that includes not just a company but systems in general the other thing you need to do you need to take a look at the youth okay and take a look at what their behavior is like which is one of the reasons why google youtube facebook twitter all of these tech companies that are collecting data on their users are so important they have such a foothold in our current economic system because they have a really good grasp of what the youth what this generation is doing so you want to start taking a look at that data and try to figure out where this wave is going on what they're taking advantage of what they're making use of right i could only speak for myself what i've done right i love teaching really i love my interaction with my students i learn a lot from them and all this jazz that i'm doing right i looked into getting my teaching certificate in canada and teaching at a school and stuff like this right but as soon as i looked at it i realized there's absolutely no way i could function within that system that would make me bitter and angry and i wouldn't last long in there right because it's limiting it's centralized as a utilitarian the student doesn't come first right the curriculum sucks right like really that's five of the main things i want to be free to teach the kids interact with them the way i need to interact with them to teach what i need to teach teach them and all this jazz right so after figuring that out i looked into the technology that was in play and i figured out for myself that okay what i need to do is get enough experience right to be able to teach what i need to teach and i need to roll out learn this technology that was coming into play and start creating content start creating my own curriculum and start being able to interact with the world right whatever you're doing technology has to have a huge role to play in it okay so what i ended up doing is i learned how to write i learned how to shoot video how to edit video how to load video on youtube and then different platforms and in the last year and a half i've learned how to live stream and be here right why did i choose twitch because twitch is where a lot of youth are right and twitch is a different platform than youtube i don't want all my eggs in one basket to be controlled by totalitarian regime i'm breaking up into two totalitarian regimes and hopefully bit shoot is going to pick up and then less totalitarian and funding from here and here so i could only speak from personal experience that's what i'm doing i'm looking at what i want to get into and i'm look i've looked at how technology is rolling out in that industry and how i can incorporate that technology into what i want to do okay and that's why recommendation would be to anyone okay i don't care what it is that you're doing i feel like most systems are ethically wrong like real estate stocks that would hate to waste time learning understanding to invest in i feel like uh there's so very few ways to invest into communities and grassroots local organizations what you're saying sleepy right now is what uh i heard norm chomsky say i don't know when it was like 10 years ago or something i heard an interview with chomsky where they asked him okay chomsky because he's considered to be an anarchist right so decentralization basically and they asked chomsky okay look if you're preaching all of this stuff why do you have money in the stock market why are you invested in these systems that you disagree with and his reply was this provide an alternative he basically came out and says i'm paraphrasing but i'm pretty close to what he said he goes right now a lot of people don't like this present system so they're hello intelligent how are you doing blueberry house life right uh he basically said this there's a lot of people that are trying to dismantle the present systems that are in play right now but they're not spending enough time building systems where when these systems are being dismantled people have a place to go to so he basically came out and said look he would love to invest take his wealth and he's part of this whole crowd that is sitting on a lot of wealth take his wealth and investing in community structures but that system 10 years ago really didn't exist as much right now in that 10 years a lot of that has rolled out there's a fair bit of it right for me i join a csa every year community supported agriculture where we made videos math and real life videos where we get food from local farms every week we give them money at the beginning of the season and every week we get food for the duration of the farming period where they're harvesting right that's one way i'm contributing back into a local grassroots movement right that money that i would spend in a grocery store centralized location money being shipped over from california i'm spending locally perfect okay different platforms crowd funding platforms are another one if you i'm gonna toot my own horn if you enjoy what i'm doing with the mathematics with this stuff with the content that you're seeing support this work through crowd funding through direct donations through subbing through uh this this this and a lot of people are rolling out or functioning within these it's not completely decentralized because there's deep platforming happening right people have been kicked off of patreon people have been kicked off of youtube people mean get kicked off of different platforms but we're going towards a decentralized system right so if you see content creators that you appreciate support them if that means you're going to one less movie a month or two less movie months or whatever it is do it right why pay money to Walt Disney when you can pay money to an individual where you know how that money is being used and you like their philosophy right that's what's happening right now and that has only been viable for the last not even 10 years man it's just rolling out and this is a hurricane coming these legacy systems that rely on Joe blows funds to exist they're in trouble right i hope so okay so we have to keep that rolling it's the only place to invest which one the hell i hope so index doing great bluebird doing great just passed my driving exam i got my license and also congrats congrats drive slow really drives slow drives a legacy system onion a legacy system is a system hopefully i'm using the word properly that's been around for a long time right so for example uh gm is a legacy company they've been around for decades right so are they still viable are there are they creating electric cars are they divesting from v8s gas guzzlers look into them right g e general electric is a legacy system legacy company that was having some serious trouble where their stock dropped down to six dollars or something now it's popped back to ten dollars or something right so you have to take a look at companies that have been around for a long time that's what a legacy system is or ideologies that have been around for a long time i just bought the book anti-fragile nice i finished um what do you call that a skin in the game by the way i'll see if i can do a book review make a video of it this week we'll see i unfortunately i'm really bogged down with a few things right now so next couple of weeks videos being loaded on youtube and live streams are going to be on the download a little bit but i'll try to get some stuff done i'll try to get some stuff done then their stock go up recently at g e yeah it went down to like six something and now it's a 10 something like a crypto is coming to play with this right what's the blockchain technology all about if you really want to take a look at um what technology is capable of you have to look at blockchain technology and see what it means how it's being rolled out what its potentials are right sisco is the definition of a legacy company sisco and sisco uh it hasn't even been around that long how long sisco been around since 1980s isn't it index correct me if i'm wrong and we're not talking about sisco that delivers food that company's been around for a long time there's a sisco uh that's a company spelled differently than this that delivers food all around you know from one company to another company large food distribution system we're talking about sisco about the router system technology company i think they've been around since 1980s maybe 1970s huler packard is hp is a legacy tech company which is garbage company as far as i know blueberry chicho i'd like to ask a question about schooling education for sure blueberry go ahead no no no sisco networking hardware company yeah 1984 yeah sisco 1984 yeah so in terms of technology sisco is a legacy system not as old as ibm not as old as huler packard but it is one of the legacy systems in terms of company at tech companies go anyway yeah for sure what would you like to know blueberry just my perspective anyway regarding schooling education because that's one place disruptive innovation is really taken to place what about her she company who owns her she again pepsico owns her she i can't remember who owns her she all of those things it's like five conglomerates that own all of them i don't know if her she's a parent company that owns the rest or another company owns her she i don't know which one it is powerful stream this one i love it i'm gonna load this one on youtube gang okay have to do it i gotta load this one on youtube i was thinking about recording it at the same time but then i would have to embed all the graphs and stuff man i'm going to have to rewatch what i missed at the boss call all those damn bosses but it's also working at home i hope you're taking your six dogs for a walk right what makes these companies legacy what is sisco being replaced by um i don't know i haven't looked into uh sisco well one of the first things that's happening right now is uh sisco i'm assuming they're going to be doing 5g as well but sisco is an american company company that deals in communication and stuff like this but they're behind the times with the chinese company with how how how way right so they're ahead in regards to 5g so you know but then now there's politics being played western governments are saying no we won't buy highways products because they're chinese and they got this stuff in there they've implanted backdoors to them but sisco's implanted backdoors to their systems right we knew about this in the 2000s right so this is politics being played as well so as i've told before uh i'd be studying mechanical engineering as of this upcoming fall the thing is i have limited knowledge of physics and i've uh exactly done i i haven't exactly done any research in the kind of math i might get at college my question is do you think someone who hasn't gone to school for a while who can actually go to college still attend college let me read that again uh my question is do you think someone who hasn't gone to school for a while who can actually go to college still attend college yeah blueberry for sure one of the things being rolled out right now playing on our system right now is reeducation of a huge sector of society and if you're not reeducating yourself into new technology coming up and that requires the mathematics and the physics right 10 years from now you're going to be obsolete 15 years from now you're going to be obsolete so that's one of the reasons like i'm doing this as a business model too i got into education is because i know it's a growth sector so there's a lot of people needing to learn all this stuff right so not only do i think it's viable i think it's a must if you don't know the mathematics the physics of the technology being rolled out you don't have to know how blockchain works you don't have to know how computers can you have to know how that data is being processed right in terms of data processing mechanical engineering is a little different of course right but for sure it is important and you can do a lot of the prerequisite stuff online refresh yourself just find the right curriculums the right lectures the right resources to be able to do it and then if you haven't done mathematics for a while that means learning high school math so what you need to do is learn high school mathematics before anything i'm down to three oh three dogs three of them went away how to dog get adopted today i'll probably get a few more soon it's always a cycling of stray dogs and then following them into good homes good man that must feel good really seriously i personally own three dogs i usually have three or four postures yeah that's what you mentioned just had a good string of families come along and they all got adopted awesome awesome chicho i freelance for this company here in new york city and i think you should be on this platform skillshare oh you mentioned the sleepy i looked into it and then something came up as a trigger saying i didn't have time to look into it more it just someone mentioned something i read something that said okay it's going to require a lot more looking into it before i can go onto it so you know again i'm limited with my time brother i do need to take care of you know make sure i'm able to pay my my living and stuff like this so there's only a certain amount of time i have but i will keep it in mind that sleepy thank you for bringing it up again and for sure bring it up again as well in the future and once i'm able to free up a little bit of time i'll look into it more for sure but right now i'm on basically three four main platforms that have occupying me pretty well as an engineer myself i'm finding the successful ones are lifetime learners 100 if you're not learning throughout your life you become obsolete pretty damn quick pretty quick very quick actually very quick i hope that answer your question blueberry i hope so anyway chicho in an ideal decentralized world how do you handle content quality control content quality control basically it's word of mouth word of mouth would do it i'm the one making them obsolete unfortunately at least i'm saving dogs um you're saving dogs you're not making them obsolete you're basically riot what you're doing is you realize that there is new technology new ways of being new ways of communicating share information and learning and creating that has rolled out and you're just there doing it if you can help other people come along and follow your path by all means please do so but you can't sacrifice yourself because other people aren't quick on the game and don't understand what's happening you're not doing anything wrong and you're not you're not making anyone obsolete you're doing what you need to do to survive and to share and to learn and do all this it's not your fault people have become complacent right riot have you ever thought about training a service dog i'm not sure if that's possible without training yeah her service dogs take a long time to train like six years or something like this certain service dogs anyway and they have to train with the same person and i've heard it takes a long time i work usually with fearful dogs dogs that have been abused seriously i must make you feel amazing man blueberry you did thank you i just feel a little anxious at the fact that i'm i have taken a full year and a half working and living and to take the chance now to go to college and study engineering i just feel as if i might struggle since i haven't gone to school for a long uh blueberry you're definitely going to struggle like really as part of the game it's it's gonna it's gonna take your time to adjust just give yourself the time to adjust one thing when you go into the workforce right away you become comfortable in the workforce you make money you come home you have friends you interact social life on the weekends and you become comfortable complacent maybe and you slow down your learning process and that's what the corporations want they want you to just know just what it is that you're good at for them they don't want you to expand beyond that right thoughts on esg esg funds i don't know what esg funds are have you seen this chichu what is that link i'm clicking on a youtube hopefully we don't lose youtube is oh i saw traces of this youtube is is Dante i know i haven't watched that video i've seen it on on some of my feeds but for sure it's just like saying hollywood does that exact same thing right hollywood facilitates this this this this right yeah for me youtube is the platform where i share information and now i'm doing it on bit shoot as well and i will continue to roll out like sleepy waves recommended what was it called skillshare and at some point i'll look into skillshare it's just a platform where i'm sharing information right and i will be decentralizing myself to make sure that if the need arises and i will arise at some point i believe for me to step away from certain platforms i hope it doesn't but it might i have a pretty shape now so i fill that hole with things like saving dogs good awesome ride some people some people in your situation blame the world and they become crappy themselves right they don't think about contributing and helping and that improves their lives yeah Dante that has existed in hollywood for decades right and in politics for decades youtube is just a platform where we're seeing some of that stuff happen right now coming to the limelight i don't know why it wasn't in the limelight when hollywood was doing it because it was it was there right and people wanted to you know sweep it under a rug hopefully people won't sweep sweep it under a rug in terms of youtube with different platforms one of the problems with esg funds is that they are compiled by companies like vanguard oh god and black rock oh my god which are not ethical organizations like the ones you're hoping to invest in yeah anything that black rock or vanguard is associated with i wouldn't put two cents in environmental social and governance ecj criteria a set of standards for companies operations that socially conscious investors used to screw no these are just catchphrase terms they're using to say this is okay it's not okay you have to look down to who these organizations are as index pointed out black rock is one of the when i was looking into this 15 whatever it was i can't remember black rock was one of the worst organizations that i looked at hello fella how's it going that's a lot of books back there right fella i've got a problem oh we've got trolls coming in what are you doing well we got the troll action okay gang mr wise guy how are you doing so it's us how's life i've seen you for a while tell you right guys say hi you look like the guy in my closet maybe oh maybe you're not mr wise guy there's a wise guy around that's our friend i got to your question just posted once anyway okay gangs we've been going over two hours yeah how about we call it a stream because oh yeah right you've been drinking i heard song discord you you pointed out you drank the lemon and something else and it came out amazing that's cool man yeah and i'm down three strawberries i gotta make more strawberry i'm glad you're enjoying it man i'm glad you're enjoying it it's so easy to make right saving you so much money like uh i'm still not sure what to do with saving uh saving you so much money no like amazing right like that's one way you can divest from a centralized state centralized companies make your own amazing liquors right make your own amazing food you know exactly what's in it fantastic the cherry is so the oh yeah the cherry is amazing cherry so delicious it doesn't even taste like i'm drinking alcohol either i was like wow that was tasty oh wow that's true that's why in the videos where you see me taste something i'm like oh phenomenal and i really meant it phenomenal right and some of the other ones i was like strong it's just a flavor wasn't incorporated into liqueur yet nice nice hey chicho i got to say your liqueur video is one of the best videos you've made and i was actually there for the live stream nice yeah that live stream was fantastic i wasn't sure how it was gonna turn out right i don't do too many live streams at the same time i'm doing recordings in that level anyway but it came off fantastic and the live stream was great everyone was loving it fun stream to do fun video to do fun video to do clean house casually in the background yes thank you very much index thank you very much index oh you grow your own food if you can yeah i will buy a greenhouse when the government says i'm allowed to what do you mean oh when you're yeah yeah yeah for sure for sure that's right will there be a live stream of monopoly with the cousins again that was also very enjoyable i don't know the cousins right now they're traveling a little bit they're moving around i was able to get a monopoly game in last week when i was with them we had four of us play three of us playing in a fourth one joined in i'm gonna try i'm gonna try we'll see we'll see it was fantastic love those games love those games fantastic board games maybe access now lines but live stream that would be fantastic as well we're diplomacy live stream wow i like the food streams myself especially being a foodie i'm going to try those liqueurs in baking soon oh let me know how they go i've never tried the liqueurs in baking yet but they would be amazing i can't see them not being amazing like a strawberry cherry oh so good so good chocolate infused brownie liqueur i like the collection videos the minerals and the plants nice i have another mineral actually either a two or triple mineral video that we're gonna do because i have my mineral collection out but i have cards with the formulas and stuff we'll see how it goes that's in the works we'll see when i get to it food and philosophy philosophy and pancakes yeah so i was watching this British baking show on Netflix and they do it the alcohol bakes out and the flavor remains cool so no alcohol but the flavor which is fine the flavor is amazing right okay gang let's call it a stream tomorrow at 12 p.m we're in the kitchen i gotta go do some shopping right now get some supplies so we're all set up for the cooking stream tomorrow if you can make it fantastic i'll see you guys there yeah it's a depth to flavor good streams sir awesome good stream gang thank you for participating index thank you for taking care of business double L this if you're still here thank you very much for taking care of business thank you for everyone for being here and contributing and talking and correcting and replying and participating in the chat it was super fun and yeah we'll definitely load this on youtube as well and i hope everyone on youtube enjoys it as well okay that's it for now gang i'll see you guys tomorrow if you can make it otherwise in the next video or the next stream bye for now