Inequality is breaking the economy @RichardJMurphy

Uploaded March 2026 | Updated September 2026, 3 weeks ago

Inequality is not just a social issue; it is an economic one.

When too much income flows to those at the top, it is not spent. That weakens demand across the economy and leads directly to stagnation.

In this video, I explain why redistribution is not optional. It is essential for economic stability, growth, and well-being.

What if the national debt is really the nations savings? Doesnt that change everything?

Inflation is rising. Will the Bank of England raise interest rates?

Why UK Borrowing Costs Are Exploding — And Who’s Profiting

$Banks exist to keep you in debt - here's how they do it Banks want to keep you in debt. Thats how banks make money, and its the core truth about how banking works that most people never learn. In this video, I explain the banking system simply, highlighting the three things banks actually do: - bookkeeping, - borrowing your money, and - lending. But heres the key to understanding money creation — banks create money from nothing when they lend. They dont lend your savings. They tap numbers into a keyboard and charge you extraordinary interest for the privilege, sometimes seven or eight times the Bank of England base rate on credit card debt. This is how the money supply really works, and why fractional reserve banking means bank profits come at your expense. Whether its mortgage debt — a term that literally means the grip of death — or personal debt, UK households are drowning in, borrowing is designed to make you miserable. This isnt financial literacy they teach in schools. Its financial education for beginners that the banking industry would rather you never had. Understanding economics explained this way gives you the tools to protect yourself. If you want real financial independence and genuine financial freedom, the first step is knowing how banks work and why they will always be trying to fleece you. Never trust a bank. Keep clear of bankers. They really do not care about you. 00:00 — The myth: banks as your “friendly helper” 01:10 — What banks actually do: bookkeeping explained 02:20 — Deposits: why your money becomes the bank’s money 03:30 — Why banks pay low interest on savings 04:40 — How banks really lend: money creation explained 05:50 — Loans from nothing: the reality of bank lending 06:50 — Interest, risk pricing and how banks make profit 07:50 — Why banks need you to stay in debt 08:40 — Mortgages, credit and lifelong indebtedness 09:30 — Conclusion: how to deal with banks and protect yourself TRANSCRIPT A transcript for this video is available at: https://www.taxresearch.org.uk IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. https://www.taxresearch.org.uk/Blog/2025/06/20/chatgpt-prompt-for-a-letter-to-your-mp/ HOW TO SUPPORT US Please consider donating: https://ko-fi.com/taxresearch ABOUT RICHARD MURPHY Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’. This video was edited by Thomas Murphy. RICHARD MURPHY ON BLUESKY: https://bsky.app/profile/richardjmurphy.bsky.social OR ON MY BLOG: http://www.taxresearch.org.uk/Blog/ HIT SUBSCRIBE & GET NOTIFICATIONS Subscribe and get notified of new videos released. INTRODUCTION: https://www.youtube.com/watch?v=HdHsRPy3060 PLAYLISTS: The Wealth Series https://www.youtube.com/playlist?list=PLvRueM6wBgobQLeyZYAagFDMjEFTKbhRD Ecenomics https://www.youtube.com/playlist?list=PLvRueM6wBgob54Gs-fOL-8OAQ-IpduwB4 Britain https://www.youtube.com/playlist?list=PLvRueM6wBgobwTT4ATvJjsf8OO6S7wD10 Tax https://www.youtube.com/playlist?list=PLvRueM6wBgoaMni_12J6ULp3yUJisUZoY MMT https://www.youtube.com/playlist?list=PLvRueM6wBgoZ6jvRGSW5YXu8qogE6aClX Money https://www.youtube.com/playlist?list=PLvRueM6wBgoYnLk1c7syTvoIo8bKYUs5m Climate Change https://www.youtube.com/playlist?list=PLvRueM6wBgob4_wsYaVivWd2WumpPLYwJ USA https://www.youtube.com/playlist?list=PLvRueM6wBgoYYd3dSyU2Oyl3x7bWJOP7H Labour https://www.youtube.com/playlist?list=PLvRueM6wBgoa-KhzG-fnjDSg1WROL1zMw The Trump Administration https://www.youtube.com/playlist?list=PLvRueM6wBgobz41-GLimTho27A3flVWQx #BankingSystem #MoneyCreation #DebtEconomy #PersonalFinance #BankingExplained #HowBanksWork #FinanceEducation #CreditSystem #EconomicReality #InterestRates #DebtTrap #Mortgages #CreditCards #FinancialSystem #BankOfEngland #MoneyMyths #EconomicEducation #WealthInequality #FinancialLiteracy #PoliticalEconomy #FundingTheFuture #EconomicsExplained #DebtCycle #FinancialPower #Capitalism #EconomicTruth #BankingCrisis #MoneySystem #FinanceTruth #StayOutOfDebt$

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