The Podcast of the Lotus Eaters #1298
Episode Stats
Length
1 hour and 31 minutes
Words per Minute
175.32553
Summary
The Lotus Eaters are joined by the host of State of Politics, Bo, to discuss the Home Secretary's plan to make refugees and asylum seekers 'temporary' citizens, and why this is a bad idea. Plus, a look at how to deal with refugees from the third world.
Transcript
00:00:00.460
Hello and welcome to Podcast of the Lotus Eaters, episode 1298, on this Tuesday the 18th of November, the year of our Lord 2025.
00:00:09.980
I am joined by the host of State of Politics, the host of State of Politics.
00:00:21.140
State of Politics, check out State of Politics.
00:00:35.080
I thought you were setting up that shiva bloody video thing.
00:00:45.960
Check it out, you might like it, you might not.
00:00:49.360
Today we're going to be talking about, what are we going to be talking about?
00:01:01.800
You're going to be telling us all about the virtues of Pakistan.
00:01:05.200
Yeah, we've got to say thanks to Pakistan, haven't we?
00:01:11.500
Not a fan, personally, but, well, we'll get to that.
00:01:15.100
Right, so, it says over to you and your broken links.
00:01:19.340
So, recently, in the last 24, 48 hours, the Home Secretary, Shamana Mahmood MP, has decided
00:01:38.680
It's like we haven't heard this before for the last 20 years plus.
00:01:42.380
But she says she's going to bring in a whole raft of new measures.
00:01:50.020
And, well, the takeaways for me are, one, it's just lies.
00:01:56.860
And, beyond that even, I don't think, I don't have any faith that they actually implement
00:02:02.720
And even if they did, it's, one, just tinkering around the edges.
00:02:18.100
So, they're going to control immigration by controlling us instead.
00:02:30.960
Let's make sure they don't cross on small boats.
00:02:33.940
Let's make sure they legally enter by an aeroplane.
00:02:36.780
Let's give them a packet of peanuts and a refreshing drink on their way in.
00:02:40.740
And have no way for the Home Office lawyers to deport them, because it's all legal.
00:02:55.740
There's lots of talk that we're going to copy the Danish model.
00:03:02.800
If people are a chancer coming from the third world, they don't necessarily care.
00:03:13.960
No, it's that in Denmark, apparently, they made it that you don't ever...
00:03:18.340
Not ever, but it's very much, much, much more difficult to become just a permanent right to remain.
00:03:30.960
You know, refugees, if your home country becomes stable again, like Syria, for instance, we had loads of people in London cheering and whooping and hollering that the Assad regime had toppled.
00:03:49.280
Well, lots of Middle Eastern countries do this.
00:03:51.280
I mean, you can go and work in, like, Saudi Arabia or, you know, UAE or something, but you'll be a temporary citizen forever.
00:04:03.440
Most of the world, particularly the developing world, have just got normal, i.e. based immigration policies.
00:04:12.140
Like, you say it as if it's some, like, radical thing to be like, well, you can't permanently become a citizen here.
00:04:26.140
It will subvert democracy if they get the right to the franchise.
00:04:40.140
There'll be a human rights law overhaul, and the second you actually look at the detail of it, it's not any sort of overhaul.
00:04:49.540
They'll tinker around the edges of Article 8 of the ECHR.
00:04:58.440
They'll just put, like, a slightly different emphasis.
00:05:01.720
Look, the government will narrow the application of Article 3.
00:05:12.220
Because other countries don't apply the ECHR in the way we do.
00:05:17.080
They don't allow asylum applicants to stay with the nonsensical excuses that they give.
00:05:30.300
So, you don't, I mean, you could just not, you could just do nothing, and it would be the same thing, just how it's interpreted.
00:05:39.460
I mean, this was always the same case with the EU.
00:05:41.420
I know the ECHR is a different thing from the EU, but the EU would pass regulations, and the rest of Europe would, like, treat them as guidelines and maybe do a bit of that.
00:05:50.060
And we would just take everything as absolute gospel and go play everything.
00:05:54.780
So, I mean, is this going to be the same with the ECHR?
00:05:59.380
Yeah, I just, it's just, milk toast is not even the word.
00:06:08.540
Ending housing and financial support, yeah, to some sort of limited degree, like they want to reduce the amount they're spending on hotels, but then just immediately just talk about, oh, we'll use bases, military bases and stuff.
00:06:24.180
Again, no question of actually, really just getting rid of them to save us money.
00:06:39.180
So all of it then up to this point is just bullshit, really.
00:06:45.980
It's what it all boils down to at the end of the day is we're still going to flood you as much as possible.
00:06:51.300
And I made this point on the state of politics.
00:06:56.280
Last night we recorded a segment actually on this.
00:06:58.580
And I made the point that they're saying under the changes, volunteers and community groups will be able to sponsor individual refugees.
00:07:05.680
So they've allowed in a bunch of, I don't know, third worlders, Pakistanis, whatever.
00:07:10.500
It will be those people that will be like, well, yeah, I want my cousin to come.
00:07:16.860
So people we never wanted here to begin with will now then be able to flood the country with more of their cousin.
00:07:23.680
Because it says at the end of that, there'll be an annual cap on arrivals.
00:07:28.320
It will be 100,000 people and their cousins and second cousins.
00:07:35.980
And in Parliament on Monday, she ruled out any sort of cap anyway.
00:07:49.760
Countries like Angola, Namibia and Congo, if they don't take their people back.
00:07:53.600
Why on earth they're not taking their people back already is crazy.
00:08:01.060
Could you get more of a contrived bullshit phrase in that?
00:08:08.580
Why are we being held hostage by third world countries?
00:08:13.380
Yeah, no, we're not going to take our people back.
00:08:18.840
I mean, presumably because these third worlders now occupy positions like Home Secretary.
00:08:38.140
So let's hear from the horse's mouth a little bit.
00:08:46.680
400,000 have sought asylum here in the last four years.
00:08:51.520
Over 100,000 people now live in asylum accommodation.
00:08:55.040
And over half of refugees remain on benefits eight years after they have arrived.
00:09:00.820
To the British public who foot the bill, the system feels out of control and unfair.
00:09:10.720
The pace and scale of change has destabilised communities.
00:09:18.080
There will never be a justification for the violence and racism of a minority.
00:09:23.820
But if we fail to deal with this crisis, we will draw more people down a path that starts with anger and ends in hatred.
00:09:31.400
So it's all just to stop anyone really getting angry about their country being stolen from them.
00:09:37.780
But also, the fact that they've not put a cap on it means that that entire statement is moot.
00:09:45.400
She's like, oh, people are angry with the rate of change.
00:09:48.060
Yeah, okay, but you're not putting a cap on it, love.
00:09:49.420
So the rate of change is going to continue, but you'll be like, no, shut up because it's legal.
00:09:54.640
And the way it will work is the Home Office will draw up some proposals that look good at the time.
00:09:59.820
And then the human rights lawyers will go to work and systematise it and say, okay,
00:10:03.840
and they'll produce these sheets that say, okay, if you're in, you know, whatever, Bermalia,
00:10:08.400
these are the things you need to say on your application.
00:10:12.440
So, I mean, under this scheme, you could have 20.
00:10:14.540
I mean, we think we've got high immigration now at a million.
00:10:17.720
There's no reason why Nigeria couldn't provide us 20 million people a year.
00:10:22.140
And the other point I'd make is that is a brutal centre parting.
00:10:27.620
If she ever shaved her head, she'd have a tan line going up the middle.
00:10:32.140
I have no doubt about who we really are in this country.
00:10:39.320
But the public rightly expect that we can determine who enters this country and who must leave.
00:10:46.840
To maintain the generosity that allows us to provide sanctuary, we must restore order and control.
00:10:55.260
Rather than deal substantively with this problem, the last Conservative government wasted precious years
00:11:05.340
With the lamentable result of just four volunteers removed from the country.
00:11:12.180
As a result, they left us with the grotesque chaos of asylum seekers housed in hotels,
00:11:18.860
shuttled around in taxis, with the taxpayer footing the bill.
00:11:23.620
Pretty certain there was just an outcry recently about what's been done on the Labour taxis, you know, maybe?
00:11:35.340
Like, I once engaged with watching these videos and I hate it.
00:11:40.420
I absolutely hate it now because it's all theatrics, it's all complete nonsense.
00:11:49.020
It's 100% messaging while they do whatever the hell they want to do behind the scenes anyway.
00:11:53.860
There's all this feigning of, oh, blah, blah, blah, blah, you know, feigning of opposition.
00:12:06.480
One positive, though, to take from it is the movement of the discussion, even if it's all bullshit coming from them.
00:12:14.560
They wouldn't even be talking like this, like, a year ago.
00:12:18.360
They wouldn't even be, you know, from Labour, talking about, you know, trying to one-up, the one-upmanship of who's going to deport more, who's going to be stronger on the asylum system.
00:12:32.900
Well, so the thing is, you know, some people will poo-poo all of this as worthless and pointless.
00:12:40.840
And it's such a, to build off what you said, is that this serves a purpose because it shifts the entire Overton window.
00:12:51.040
You know, the dialogue is now, how many people are we going to deport?
00:13:00.040
So whether they do something or not is actually besides the point because this furthers what we want in the end.
00:13:09.020
So when they fail, which they will, then someone else can come in power and go, well, they failed.
00:13:18.320
And people will cheer on because they'll go, yeah, that's actually what we want.
00:13:24.260
I think there's actually a legitimate point in that because, you know, I remember back to the early 2000s.
00:13:29.400
Now, before the year 2000, we were just a normal, sensible country.
00:13:32.940
But after 2000, the main place where the dialogue was had was on things like BBC Question Time.
00:13:37.780
I mean, nobody watches it anymore, but back then it was.
00:13:39.820
And the lefties started this process where every time like a Tory came on, they just called them racist over whatever the thing was.
00:13:48.160
And the Tories basically become, they got Stockholm syndrome over this.
00:13:54.020
And they got to the point where they kind of had, I mean, by the time they were, you know, certainly up to Boris Johnson, all they ever wanted to do is prove that they're not racist to the point where they've elected a, you know, a first generation Nigerian immigrant as their leader.
00:14:09.880
And that's because the dialogue was owned by the left.
00:14:12.640
So if what you're saying is, I think you are, that now the dialogue is owned by the right, we might not get the benefits tomorrow.
00:14:19.960
But I've already seen where this takes a country over a period of a couple of decades.
00:14:24.760
I mean, because even if Nigel Farage fails, right, which he might do.
00:14:29.380
I mean, what comes after him is going to be very extreme.
00:14:32.640
And they'll just build off this rhetoric and go, yeah, guys, they were all talk.
00:14:41.160
If nothing else, certainly the dialogue has moved.
00:14:47.520
We must remove those who have failed asylum claims, regardless of who they are.
00:14:54.140
Today, we are not removing family groups, even when we know that their home country is perfectly safe.
00:15:02.540
There are, for instance, around 700 Albanian families living in taxpayer-funded accommodation, having failed their asylum claims.
00:15:12.180
This is true despite an existing returns agreement, and that Albania is a signatory to the European Convention on Human Rights.
00:15:21.300
Yeah, so, again, we're just not deporting people when they, by rights, by absolute sort of legal rights, should have been deported already.
00:15:33.960
A year ago, that wouldn't have even been brought up.
00:15:41.060
While some barriers to removal are the result of process, others are substantive issues related to the law itself.
00:15:48.580
There is no doubt that the expanded interpretation of parts of the European Convention on Human Rights has contributed.
00:15:56.640
This is particularly true of Article 8, the right to a family life.
00:16:01.780
The courts have adopted an ever-expanding interpretation of this right, and as a result, many people have been allowed to come to this country when they would otherwise have had no right to.
00:16:11.920
And we have been unable to remove others when the case for doing so seems overwhelming.
00:16:18.200
So you hear something like that, and you think, oh, that's good.
00:16:24.180
But then, again, once you really let them go on a bit further, you hear what it's really all about.
00:16:59.180
And then a bit later, I think I've got it lined up, someone asks her, what's the cap then?
00:17:04.660
And she's like, well, I'm not going to give you that.
00:17:10.440
When the military evacuates the country, you're supposed to bring your military personnel out of the country.
00:17:14.640
You're not supposed to bring everyone in the country with you.
00:17:19.040
That's also not something you should be saying in Parliament, considering the amount of Afghanis that are committing crimes against the natives.
00:17:26.460
Probably, probably not something you should be highlighting.
00:17:30.880
And then His Majesty's leader, loyal leader of the opposition, stands up.
00:17:35.660
Madam Deputy Speaker, can I thank the Home Secretary for advance sight of her statement, most of which I read in the Sunday Telegraph, actually.
00:17:42.900
But I am pleased that she is bringing forward measures to crack down on illegal immigration.
00:17:52.840
Also, why is she dressed like a chavette in a pound store who's just left her trackie on?
00:17:58.960
She's pleased now that there's stronger words coming out.
00:18:05.120
As a first-generation immigrant, can I welcome the Home Secretary statement, which I feel this immigration white paper is a move from the 20th century to a much better future immigration system.
00:18:15.420
In particular, I'd like to thank the Home Secretary for removing the annual limits on work visas and also on international students, both of which I lobbied for on behalf of the Wellcome Sanger Institute and Anglia.
00:18:25.460
All right, so you changed your tune a bit there.
00:18:33.200
We had a cap of tens of thousands when David Cameron came in.
00:18:38.960
We need to ask ourselves, why didn't that work?
00:18:41.640
Rather than just saying, we'll make another promise.
00:18:55.600
People who are throwing out numbers and saying, oh, well, we'll leave the ECHR and so on, are giving you easy answers.
00:19:01.400
That is how we got in this mess in the first place.
00:19:13.940
Don't sit there and be like, well, we can't put a cap on things because it wasn't stuck to before.
00:19:40.900
And she knows that's not the answer that she can give.
00:19:43.800
And so after the statement, people get to stand up and ask some questions.
00:19:53.180
It's a place that's been made richer because of the people who've come here from all over the world.
00:20:00.900
Some of them have fled persecution and have made a home over many years.
00:20:14.120
People have come here and made their homelands richer by remittances that we don't tax.
00:20:22.880
On a slightly broader point, why is the UK Parliament a series of ethnic women discussing how many people get to come into my country?
00:20:33.720
Well, because they don't, they allow anyone to have the franchise, don't they?
00:20:37.340
So obviously our democracy can be subverted by foreigners.
00:20:48.900
Fair and sustainable, so we welcome some of what the Home Secretary have said on that score.
00:20:54.020
But what is not helpful is the Home Secretary claiming that the country is being torn apart by immigration.
00:20:59.640
Acknowledging the challenges facing our nation is one thing, but stoking division by using immoderate language is quite another.
00:21:09.120
I will, however, welcome news about safe and legal routes.
00:21:15.860
On both sides of the House, it just keeps coming up again and again and again that they want safe and legal routes.
00:21:23.540
Finally, we hear from somebody with a little bit of European ancestry, and his thing is that the ethnic women discussing this are not going far enough to let enough people in.
00:21:30.980
Yeah, well, he's in a feminine douche, isn't he, so...
00:21:36.560
Fairness to act with efficiency and to act with compassion for local communities in the UK who want this resolved, but also for asylum seekers too.
00:21:50.100
I have to say to the Honourable Gentleman, I wish I had the privilege of walking around this country and not seeing the division that the issue of migration and asylum system is creating across this country.
00:22:02.580
Unlike him, unfortunately, I am the one that is regularly called a...
00:22:17.700
Actually, the speaker did pick her up on that and say apologise, because even if you're quoting someone else, you can't use that language in the house.
00:22:46.400
What we won't do is set arbitrary targets or caps.
00:22:52.360
I thought in your statement, just 20 minutes before, you said you would bring in caps.
00:22:57.080
Because someone just asked a question, what is the cap?
00:22:59.060
And she just said, we're not going to have caps.
00:23:01.440
We have learnt the lessons of previous governments, and I...
00:23:09.520
I think that setting a number in that way actually costs public confidence.
00:23:14.440
The better thing to do is to actually get on with delivering these reforms, passing...
00:23:19.160
The reform means nothing if you haven't set a cap.
00:23:32.760
To continue the UK's proud history of offering sanctuary while simultaneously reducing illegal
00:23:40.340
channel crossings, the right way for refugees fleeing persecution should be through safe
00:23:45.480
and legal routes that are subject to full security checks and controls.
00:23:50.160
It's just that, again and again and again, from both sides.
00:23:59.160
Sure, put a little bit more pressure on this...
00:24:09.140
Madam Deputy Speaker, I think there would be genuine agreement that we have chaos in the
00:24:14.200
immigration and asylum system and that the government should be looking for new ways to discourage
00:24:20.260
people from crossing the channel in small boats.
00:24:22.720
But in what she says today, is there a danger that those people that we do actually need to come
00:24:29.800
to this country legally with the skills that we need to fill the employment gap to keep
00:24:35.420
our NHS working and to work in the social care sector will actually look at this country
00:24:59.360
It was reported that we would strip assets from the people that we're deporting.
00:25:05.140
And it had been reported something that we'd actually take jewellery off of them when we're
00:25:11.100
But all the lefty commie traitors have jumped...
00:25:13.960
There are good, ongoing negotiations going in relation to return hubs.
00:25:20.820
I thank my honourable friend to do so before then.
00:25:23.980
That is why we are exploring large sites, including military sites.
00:25:27.280
I know that will engage more debate in this House over the coming weeks and months, and
00:25:32.620
But given that he's a member of a party that started hotel use, I hope he'll reflect on
00:25:40.440
I support my right honourable friend's statement.
00:25:42.880
And particularly her announcement about safe and legal routes.
00:25:46.660
She'll know that cities like Cambridge have a long tradition going back to the Kindertransport
00:25:50.440
through welcoming people from Syria and Ukraine.
00:25:54.120
And I very much hope she'll work closely with authorities like Cambridge City Council
00:25:57.520
to work on measures that can make these routes work.
00:26:03.600
That is why we do make financial packages available for people to voluntarily remove the country.
00:26:13.000
In the manifesto, Labour promised to defend migrants' rights and build an immigration system
00:26:21.120
Instead, what we have is a policy that's welcomed by Reform UK and that's even found favour with
00:26:26.300
Tommy Robinson from throwing refugees into destitution to denying any meaningful route to citizenship
00:26:34.880
Where exactly is the compassion and dignity in that?
00:26:38.660
It's toxic, racist narratives and the scapegoating of migrants and asylum seekers
00:26:49.420
The chronic housing crisis, the running down of public services are not caused by migrants.
00:26:55.080
They are caused by political decisions and by the grotesque inequality in this country.
00:27:00.740
Does the Secretary of State understand that attempting to out-reform, reform, is actually just boosting
00:27:08.820
this baseless, far-right narrative and will only deepen divisions when we urgently need leadership
00:27:17.440
Let me tell her, I couldn't care less what any other political party has to say about these matters.
00:27:23.240
I don't care what other politicians are saying on the television.
00:27:26.340
I don't care what other activists are saying either.
00:27:29.040
I care about the fact that I have an important job to do and I can see that there is a problem
00:27:34.960
If it was possible to pretend there wasn't a problem because there was a one, I wouldn't
00:27:40.380
There is a genuine problem in this asylum system and we need someone to sort it out, not to
00:27:45.300
pretend it doesn't exist, which I'm afraid is one of the things that fuels the division
00:27:50.840
My own constituents, since I have been Home Secretary, have been telling me directly of abuses
00:27:56.200
in the visa system that they can see with the evidence of their own eyes long before
00:28:00.440
any officials in Whitehall have ever clocked on to those things.
00:28:03.360
It is a moral responsibility when you see something broken to fix it and to make sure that the
00:28:08.800
fact that it's broken is not fuelling division in our country.
00:28:11.760
And let me also say to her, it is Green Party politicians who are absolute hypocrites because
00:28:16.320
they talk great language in here and then oppose asylum accommodation in their own constituencies.
00:28:29.740
Everyone understands basic equation, you know, the basic equation of supply and demand.
00:28:35.740
But when it's confronted, you know, in relation to immigration, they conveniently always forget
00:28:47.840
So some improvement on the rhetoric, but all I'm seeing here is a parliament full of traitors.
00:29:00.120
And how dare you even notice that there's any sort of problem?
00:29:08.380
Do you not understand that your jobs will become untenable because you'll be replaced
00:29:14.480
Do you not even want your, like, on the most basic level, do they not have any sort of
00:29:23.580
As I say, the only positive is that it's just, it is moving the conversation, isn't it?
00:29:28.380
But, I mean, apparently Nigel, just this afternoon, or very shortly before we went on air, I think,
00:29:33.700
so I haven't actually got clips from it or anything, was going to talk about cutting
00:29:37.540
foreign aid by 70%, should be 100%, and strip all foreign nationals of benefits, which is
00:29:45.860
Again, it's movement in the right direction, and I think pressure from, well, from the
00:29:53.580
Where they're now trying to, the Tories, Labour, and Reform are each trying to outdo each other.
00:29:59.300
It is literally mental that some foreigner can come here, work for 10 years, and then
00:30:10.140
I think we're one of the only countries in the entire planet that does that.
00:30:14.060
Oh, you can come here, work for 10 years, and then you get a pension?
00:30:20.120
Well, you remember, Nigel, not too long ago, someone said, what does it mean to be Welsh
00:30:24.340
He said, well, if you've been here for 10 years, and you've made your taxes.
00:30:29.620
You've come here, been here for a few years, and you haven't committed any crime, and you've
00:30:32.580
paid your taxes, you're as Welsh as any Welshman.
00:30:37.020
Well, of course, what we really need is just full mass re-migration.
00:30:42.840
Some thought that that talking point, which now seems to be taken up across the house,
00:30:47.880
some thought that that was just a far-right fantasy.
00:30:54.400
But in fact, now, all the main parties are trying to outdo each other.
00:30:57.560
So, okay, I'll leave it there, because I've used up my time.
00:31:00.180
But yeah, it's annoying to see that our parliament is just packed full of enemies of sort of the
00:31:06.760
nativist interest, but the conversation is moving to the right.
00:31:14.180
You've got a couple of comments, and you know there's dreams where you suddenly realise you're
00:31:19.780
I've just realised that I'm doing that, so hang on.
00:31:24.680
Dawn Browning, Field Marshal Browning, just gives us $10.
00:31:35.060
Big old something, it's cut off, I'm afraid, says, I know the British people are open and
00:31:40.840
Immigrants making it easier for immigrants to come every damn time.
00:31:44.700
T-Wire for £5 says, you're overlooking the demographic change over time.
00:31:49.440
I hope by the time people realise it's all talk, you won't have the numbers to change
00:31:59.740
Arcadia for £5 says, as Starmer looks shakier by the day, Mahmood is on manoeuvres.
00:32:05.560
With an eye on becoming the next Prime Minister, this is why she's talking tough.
00:32:12.200
T-Wire again for another £5 says, surely saying that we need to import skills highlights the
00:32:17.240
inadequacy of the state education system, right?
00:32:23.540
Well, I just don't believe that talking point at all, that we have to import people because
00:32:43.300
In fact, actually, you should be thanking us, Pakistan, genuinely.
00:32:46.280
So, I thought we would start this segment with a brief history of Pakistan.
00:32:53.320
So, Pakistan exists because we effectively created it.
00:33:00.940
So, Britain partitioned British India into India and Pakistan in 1947.
00:33:07.000
If you want to jump in here at any point, our resident historian, please do.
00:33:11.400
It's a decision driven by the failure of the Hindu majority Indian National Congress and
00:33:24.000
Pretty dumb to keep important both parties over here.
00:33:27.080
It's interesting you've got a picture of Jinnah there.
00:33:29.400
Yeah, he's sort of the main, one of the main political forces behind that.
00:33:34.100
You know, like Gandhi didn't want to break up East and West Pakistan and India.
00:33:38.720
But people like Jinnah sort of insisted on it, basically.
00:33:43.300
But, I mean, back in the early 19th century, we ridded that part of the world, sinned from
00:33:49.020
sort of the Indus Valley, whatever you want to call it, from the oppression of the Mughals.
00:33:58.140
The British Empire was far less repressive and oppressive than the Mughals.
00:34:07.760
And that's the thing I worry about this country, is that if we leave it long enough, we get
00:34:11.660
to the same point and Britain will need to be partitioned into a Muslim section and a non-Muslim
00:34:20.120
So, basically, facing pressure to grant Indian independence, the British government concluded
00:34:26.700
that a partition was the only way to resolve the political deadlock between the two major
00:34:31.640
The last viceroy, Lord Mountbatten, announced the partition plan, which split British India
00:34:38.800
into a predominantly Hindu India and a predominantly Muslim Pakistan.
00:34:52.260
So, Pakistanis are, amazingly, the largest group of asylum seekers in the UK.
00:34:58.420
So, the largest amount of asylum applications are coming from Pakistanis.
00:35:09.320
Oh, we're going to get to their country in a minute.
00:35:15.720
So, there is over 11,000 claims in the year ending June 2025, making it the top nationality
00:35:26.360
Now, these claims have increased significantly in recent years.
00:35:28.740
I wonder why, though most applicants arrive in the UK on a visa rather than through small
00:35:35.100
boat crossings, which are dominated by the nationality.
00:35:37.400
So, there's a lot of people that just come here and then claim asylum, basically.
00:35:44.160
So, Pakistan is the most common nationality for asylum claims, followed by Afghanistan and
00:35:52.920
You know, I don't agree with it, but I can understand, you know, Iran, not exactly a
00:36:00.600
I can imagine trying to claim asylum from Iran.
00:36:05.840
Again, I don't really want any of them here, but I can understand why some of them would
00:36:12.340
You're saying it's logically internally, you know, continuous.
00:36:24.800
So, number of claims in the year ending June 2025, Pakistan had the highest number of asylum
00:36:29.160
claims in the UK, literally the highest number, with 11,234 claims.
00:36:40.980
So, they basically just, they just arrive in the UK with a visa and then they go, I'm
00:36:46.180
So, that should automatically be a rejection, obviously.
00:36:52.460
So, as of mid-2025, there were approximately 317 Pakistani foreign nationals in prisons
00:36:59.820
in England and Wales, making it the second highest foreign nationality after India.
00:37:07.200
So, data from 2022 shows that Pakistani individuals made up about 14,846 of the Asian offenders
00:37:16.720
in the UK justice system with a 39% custody rate.
00:37:25.340
This is how you repay us for giving you a country.
00:37:32.140
So, the custody rate for Pakistani offenders was 39%.
00:37:34.820
That is the highest among all Asian ethnic groups.
00:37:40.420
In 2022, Pakistani offenders represented, I've covered this, 14,846 of the 40,861 Asian
00:37:51.280
We don't mean, when we say Asian, obviously, you know, they're probably not lumping in Japanese
00:38:12.800
We're not getting good value out of all of this.
00:38:28.920
I mean, they're claiming asylum from there, aren't they?
00:38:34.280
By the standards of what you would expect in that part of the world.
00:38:37.920
I mean, not by the Cotswold standards, I wouldn't imagine, but.
00:38:42.140
Well, they're stable enough to have a nuclear program.
00:38:48.060
Do you know how much they spend on their nuclear program?
00:38:51.800
It would have to be tens, if not hundreds of millions, wouldn't it?
00:38:58.040
Any guess how much a country that people are claiming asylum from spends on their nuclear program?
00:39:21.020
They've got a space program as well, haven't they?
00:39:22.960
They actually do have a space program that this year alone they've spent effectively 15 million pound on.
00:39:35.940
It doesn't really matter that it's a little amount.
00:39:45.340
We give a country that sends us their criminal filth, basically.
00:39:54.300
And I've not even gone into the grooming gangs.
00:40:00.720
They're not state funding that as well, are they?
00:40:04.760
If we're subsidizing a country and they're sending us these people that they then refuse to take back.
00:40:12.560
But, I mean, I could have gone really hard on this, right?
00:40:26.240
Wild guess in how much we've given this country.
00:40:28.400
This country that has a nuclear program that they spend nearly a billion pound a year on in aid across the last decade.
00:41:02.360
Just given to Pakistan in aid since 2015 to 2024.
00:41:09.040
We have given a country that has a nuclear program and a space program 2.3 billion pound in aid.
00:41:17.700
And apparently we don't have the leverage necessary to get them to take people back.
00:41:23.880
In fact, we have to get their people because of asylum.
00:41:30.020
Why don't we just say, we're going to stop giving you the money unless you take back all of your citizens.
00:41:38.080
Because if we're going to pay anyway, we might as well get mass read migrations out of it.
00:41:46.580
I mean, we're effectively subsidising this country.
00:41:52.740
I mean, if you want to be under rule again, by all means, just say, we have enough of you here.
00:41:58.460
You know, if you want us to rule you again, then by all means, please.
00:42:03.500
I suppose from their point of view, they can rule us.
00:42:07.900
I mean, they've already got the Home Secretary.
00:42:16.960
And in return, we get loads of their sex criminals and violent criminals in return.
00:42:30.180
It doesn't seem like it's particularly in our interests to be doing that, does it?
00:42:35.940
If you're looking at it purely on a transactional basis, it's not a great exchange, is it?
00:42:43.600
It doesn't seem to be making us particularly stronger.
00:42:46.780
So not only do we spend, obviously, billions per year on housing people, but we're also
00:42:56.020
And I didn't even look into what I should have done.
00:43:00.540
I should have looked into how much money leaves the country in remittances to Pakistan, which
00:43:06.680
Side note, if a producer could just quickly Google that, that'd be wicked.
00:43:09.720
How much money leaves the country to Pakistan in remittances?
00:43:23.080
You know, India taxes money that leaves the country.
00:43:28.200
So the various enemy cabals that have been masquerading as our governments for the last
00:43:33.840
few decades are, in fact, funding our own invasion and demographic replacement.
00:43:43.420
This has been my best segment to do research on.
00:43:48.220
I couldn't quite fathom the amount of waste of money that we pour out to Pakistan until
00:43:58.480
And so obviously this segment popped up because over the last two days, by the time I'm recording
00:44:05.640
this, three days now, I think, the Telegraph revealed that somehow, some reason why we accept
00:44:13.640
It should be an automatic refusal from a country that has a space program and a nuclear program
00:44:20.000
that we also provide unlimited aid to, it seems.
00:44:27.040
I mean, I know what you're telling me is right, and I'm sure you fact-checked all of
00:44:35.480
It just doesn't, it's like not connecting with my brain in some way.
00:44:41.340
Like late-stage Rome, sending 250 million denarii a year to Gaul or something.
00:44:52.140
The bottom line is that Pakistan isn't a country from which you should be claiming asylum.
00:44:56.360
It's like claiming asylum from Canada or something.
00:45:02.660
I think it might be a bit hot and smelly, but...
00:45:06.320
Yeah, it's not a great place, I'm sure, but it doesn't mean we should accept the detritus
00:45:16.740
And the bizarre thing about that aid is, I know how corrupt aid is, so effectively what
00:45:22.140
Well, effectively, that money will be mostly stolen by the Pakistani elite.
00:45:27.440
So we're spending billions on housing low-class Pakistanis while funding the lifestyles of
00:45:39.380
And councillors, which then go and campaign to become members of parliament in Pakistan.
00:46:00.660
There is no justification for accepting asylum claims from Pakistan.
00:46:10.760
And this is how you repay us for literally creating your country.
00:46:34.660
Could the current state of the West through migration be so no one interferes in the ethnic
00:46:45.180
Could the current state of the West through migration be so no one interferes in the ethnic
00:46:51.480
That we're so flooded by them that our foreign policy will be watered down to the point where
00:47:11.400
Uh, Thomas Glinder says, so when are we going to partition Bradford?
00:47:19.120
I mean, the reason why we have so many Gaza protests every single week is because basically
00:47:28.400
Well, it won't be just one city, though, will it?
00:47:30.280
It will be like, they'll get like half the country.
00:47:40.420
Um, just to make sure the secure, uh, the good spots for corner shops on the moon.
00:47:52.280
Um, Cranky Texans says they don't tax remittances because they want remittances.
00:47:57.320
Figure out why and all if of makes sense, at least from a certain point of view.
00:48:04.300
Uh, India does tax remittances of money leaving India.
00:48:08.340
But we don't tax any remittances leaving this country.
00:48:10.800
So when anyone's like, oh, immigration's well, it's well good.
00:48:13.540
Yeah, you haven't worked out the figures, have you?
00:48:15.360
Of how much they provide to the country versus how much they siphon out of it.
00:48:18.520
And in a week's time, I'll almost certainly be doing a segment on the budget where they put up every single tax.
00:48:26.940
Um, not just a string says, at least said Home Secretary is scared the plan won't succeed if efforts aren't made.
00:48:33.640
But we're already at critical mass anyway, and it's not getting better when things get inevitably worse.
00:48:42.320
Says, to paraphrase Ron Paul, foreign aid is when governments of rich countries take money from their poor people and give it to the rich people in poor countries.
00:49:26.820
I'm talking about the Anglo world as a whole, but yes, the Americans.
00:49:36.000
They speak English, so you don't realise they're foreign.
00:49:46.980
So Trump supporters have come out predictably and sort of said this is good.
00:49:52.720
The libs have come out and said that it's awful.
00:49:54.760
The problem is, though, is the libs say that everything he does is awful.
00:50:03.260
I mean, it's sheer stop clock, but this is not a great thing.
00:50:07.680
And Trump has truthed, I believe, this image out, where he's compared himself to one of
00:50:14.240
the worst presidents of all time, Roosevelt, and tried to make himself look good by basically
00:50:26.640
It does lower your monthly payments a little bit, but it does basically turn your home into
00:50:31.740
a 50-year subscription model where you spend most of your life renting from the bank.
00:50:35.840
I've heard there's this phrase that might apply to this.
00:50:47.680
I mean, they're busy at the first part of that.
00:50:52.260
I don't know when I'm going to be happy about something.
00:50:54.320
I mean, it does just mean that you'll end up paying more, ultimately.
00:51:04.180
So, the bank, the winner out of all of this is your mortgage lender, the bank.
00:51:16.160
I mean, I'll quickly run through a little bit of the history on this.
00:51:19.100
So, mortgages used to be quite sensible before the 1930s in the US, and they were, you know,
00:51:23.560
very short duration, might be three or five years.
00:51:28.260
At the end of the three or five years, you had to pay the whole lump sum.
00:51:30.600
So, it was basically, you were going, you know, it was set in a world where you had
00:51:35.260
to buy a house outright, where they said, okay, well, that's kind of still what you need
00:51:39.580
to do, but we're going to give you a five-year grace period or whatever to get the funds together
00:51:43.540
so you can get your life going a little bit earlier.
00:51:46.940
Back when houses were actually affordable in real terms.
00:51:50.040
Well, yes, and also they tended to build them in proportion with the population, which
00:51:57.300
I know people in a generation just above me, so not even the 1930s, in the 1970s, and they
00:52:02.680
would say, we saved really hard for two or three or five years and then bought our house
00:52:07.320
outright because it cost three grand or something.
00:52:09.760
Whilst being a milkman with a stay-at-home wife, I saved really hard for 18 months and then
00:52:18.360
So a different, entirely different world because it's orders of magnitude more expensive
00:52:24.140
It's not just that inflation has gone up, so the price of your average house has gone
00:52:31.040
Well, there's the debasement effect of money itself and there's also the fact they don't
00:52:38.800
In Britain anyway, some kind of shitty three up, two down, semi-detached, in nowhere important,
00:52:50.100
Americans watching this won't believe what we pay for our houses.
00:52:53.580
Well, I'm going to show you some American houses in a bit and you won't believe what
00:52:58.440
So even though they might have it bad, it's not anywhere near as bad as, but I haven't
00:53:02.660
finished kicking on FDR yet before we get on to affordability.
00:53:05.820
I was going to make a comparison with a much better president in my view, Warren G.
00:53:11.940
Now, I know historians typically tend to present, I mean, you might have a different view, but
00:53:16.060
most historians tend to think that Harding was awful and FDR was the bee's knees.
00:53:23.920
But, you know, there wasn't just the, you know, the Great Depression.
00:53:31.400
And Harding, who was excellent, his response was to do absolutely nothing.
00:53:35.880
And that's why nobody's ever heard of the 1921 crash, because it's just like, OK, didn't
00:53:42.420
The market cleared and then they kind of went up again.
00:53:49.120
But when you get the Depression in the 30s, the reason it's a depression as opposed to
00:53:53.720
a slump that nobody's ever heard of is because FDR started this process of government can fix
00:54:00.940
And so mortgages went from being this, you know, OK, well, you're almost there with your house
00:54:05.320
and houses are cheap, so we're going to, we're just going to get you over the hump.
00:54:08.340
We're just going to, you know, you can start your life five years earlier with this, you
00:54:14.140
They started in bringing in much longer term mortgages and creating a whole bunch of federal
00:54:19.120
agencies behind this, you know, the Federal Housing Authority and, oh, but bloody loads
00:54:25.940
Well, it's the New Deal, just quickly to say, FDR gets in after, like in the 30s, not, he
00:54:30.980
wasn't president during the Wall Street crash, but still not long after he gets in.
00:54:40.720
And why Trump wants to compare himself to FDR, God only knows.
00:54:48.320
The problem with Trump, though, the problem with Trump is he is ultimately a line go up
00:54:53.340
And he's, I do think he, I mean, obviously we support him here and I do like him, but
00:55:03.020
His commentary about flooding the country with Chinese students was...
00:55:06.860
That's the same mentality of the line go up boomer.
00:55:13.300
Well, he supports this because the line go up and he supports the H1, B1, whatever.
00:55:19.900
It's funny because a lot of people on the right hate Roosevelt, Americans, like hate
00:55:24.120
Roosevelt and see him as like a sort of a Clement Attlee type figure.
00:55:30.580
But, you know, people on the, sort of the mainstream, you might say, boomer truth view
00:55:42.020
Not even including World War II, before World War II, with the New Deal and everything.
00:55:47.360
It was exactly what America needed was all this state intervention.
00:55:51.580
And so if you believe that angle, that view of history, as lots and lots and lots of
00:55:56.880
people do, you know, when I was doing sort of A-level history, for example, it was sort
00:56:05.300
Well, if you subscribe to that, then Trump comparing himself to him would make sense.
00:56:10.760
Yeah, but Trump shouldn't be thinking like this.
00:56:14.020
Because one of the things that the whole process with SDR started is massive US government
00:56:22.260
So for any Americans watching, I don't know if you know this, but you have a really weird
00:56:27.020
Because the way they do it over there is you buy a house and you get a 30-year, typically
00:56:30.760
a 30-year fixed rate mortgage for the entire lifetime of the mortgage.
00:56:35.020
Whereas nobody else in the world really does that.
00:56:45.660
But the other thing is, okay, let's say you even get in on a low rate and then a job
00:56:50.560
opens up, which is 200 miles away and rates are now higher.
00:56:54.520
Are you going to leave your really low rate on your nice house to go and live in a shitty
00:57:01.780
And as a result, the Americans have this really weird sort of lumpy housing market that sort
00:57:06.840
of booms and busts all over the place from year to year.
00:57:11.080
So yeah, so a whole bunch of government interventions got involved and you ended up with this system.
00:57:16.040
Now, it's kind of going to make an awful lot more sense if I kind of illustrate it through
00:57:21.260
So I want to talk about Mr. Average American and then put some numbers on it.
00:57:27.020
And I thought, well, because this is a visual medium, I've got to start with Mr. Average.
00:57:33.160
So I got AI to take every known photo of 30-year-old Americans and generate a composite.
00:57:42.080
And so this is our composite of what the average 30-year-old American looks like.
00:57:47.680
You know, that just gives you a basing point to hang this on.
00:57:51.600
And I've had to give him a name, so I've called him Mayo Barber.
00:58:14.320
So if any Americans watching this thinking, I'm shitting on America, trust me, every word
00:58:27.000
In fact, one funny thing is we did a segment on the wage differentials between the US
00:58:35.160
And afterwards, a Buc-ee's store manager in America sent us a huge crate of, like, goodies
00:58:43.700
And a note attached that said, because I'm so rich and you're so poor, you need this.
00:58:53.500
If you're watching, Mr. Manager, thank you very much for that.
00:58:55.600
Anyway, so Mr. Average American, he earns $84,000 a year.
00:58:59.760
So that means he's got $7,000 monthly he grosses.
00:59:04.240
And a sensible housing ratio, once you've got your other living expenses, is about 30%.
00:59:15.080
So basically, the mortgage payment that he can make is $1,800.
00:59:18.760
And we'll just work through a quick example as to what this looks like.
00:59:35.560
Now, the house that you should buy when you're doing a mortgage is whatever you can afford
00:59:49.300
What they do is they look at the absolute maximum that they can borrow, and then they
00:59:53.040
buy the maximum amount of house that they can borrow, which kind of, you know, is people
01:00:04.440
So a 15-year mortgage, because bear in mind, he's got his $1,800 that he can spend on it.
01:00:10.200
So if he was going to take a 15-year mortgage, that would mean that he can borrow $210,000,
01:00:16.200
and assuming a 20% deposit, that gets him to a house price of $260,000.
01:00:23.960
But of course, when he doesn't do that, you know, he borrows over 30 years now that this
01:00:31.200
So along with your deposit, you're looking at $375,000.
01:00:35.800
So you can see that the jump from 15-year mortgages up to 30-year mortgages, it kind of did have
01:00:42.460
an appreciable difference, because you can see the house that you can buy goes from
01:00:52.600
And that's what people want more than being poorer in real terms.
01:00:59.600
There's also the factor that I'm going to come to that what it does is it bids up house
01:01:05.380
But nevertheless, 15 to 30, you see the huge difference that it has.
01:01:09.400
Right, now look at the difference that a 50-year mortgage makes.
01:01:20.320
It's all down to the slope of the curve on how long-term money works.
01:01:29.020
Well, it does make your monthly payments slightly lower.
01:01:32.940
I mean, this has worked out to show you on $1,800 the difference that it can make on the
01:01:37.380
But, you know, the difference is actually quite tiny.
01:01:41.540
Yeah, so the example I'd use is, for example, when you buy, when you retire and you buy an
01:01:45.920
annuity, it's going to pay you out money for the rest of your life.
01:01:49.340
I mean, actually, technically, that's a perpetuity because it will pay out forever as long as
01:01:56.440
But the difference in the maths between an annuity and a perpetuity is 50 years.
01:02:02.320
At that point, it basically crosses because the curve falls off at such a rate that the
01:02:07.440
longer out your money is, the less difference it makes to the upfront cost.
01:02:11.820
And so that's why when you go to a 30-year, you've already captured all of the benefit from going to a 15 to a 30.
01:02:17.940
Going from a 30 to a 50 barely makes any bloody difference to your payment.
01:02:25.980
It does make differences that we come to in a minute.
01:02:34.500
Now, if you just think, a final point on this 10k difference, what do you think is going to happen to that?
01:02:39.600
You're going to get a different class of home or you're just going to bid up a house that was worth 375.
01:02:51.580
Now, the median home, so we talked about Mr. Average America, but actually the average house
01:02:58.200
in America, I mean, as much as averages apply in America since it's so diverse, but it's 410,000.
01:03:05.500
So even for Mr. Average, the average home is still out of reach with this.
01:03:08.900
I was going to say probably people in metropolitan LA or New York are like 410,000, I wish.
01:03:15.560
I've seen tiny little apartments in New York for like a million or two million, a way of silly,
01:03:20.060
a stupid number, a stupid number, but we're not talking about them.
01:03:22.720
No, we're not talking about someone living in Tennessee or Colorado.
01:03:25.940
Yeah, if you're trying to buy New York, then, I mean, good luck.
01:03:30.240
I mean, even the closer bits of Jersey, I'd imagine you're going to struggle.
01:03:34.280
So this 50-year loan doesn't really make it any more affordable.
01:03:39.000
And I knocked up this graph before we came in here that kind of illustrates the point.
01:03:44.040
So this is years across the bottom here, 0 to 50.
01:03:52.340
So again, we're sticking to Mr. Average, Mia Borba, and he can make these payments of $1,800 a year.
01:03:58.460
And then we've got these three housing scenarios that we talked about.
01:04:01.700
Now, with a 15-year mortgage, as you can see, it gets paid off quickly.
01:04:06.920
And this line here is the amount of actual principal you're paying back.
01:04:20.120
Down here, here's how much principal he's paying.
01:04:22.360
But he starts off paying back somewhere near to half principal straight away.
01:04:29.060
And these kind of key points that I marked along the chart here, that's when he's paid off 25% of the loan, 50%, 75%,
01:04:37.240
and then obviously 100% when he reaches the line.
01:04:39.120
So as you can see, he's only in there for like seven years, and he's paid off 25% of the loan.
01:04:44.040
Like, whatever that is, nine years, he's paid off half the loan.
01:04:49.880
So a nice kind of tight, tidy repayment schedule.
01:04:52.760
And then look at how it changes to the 30-year.
01:04:56.280
So he's in there for, well, whatever that is, maybe 13, 14 years before he's paid off a quarter.
01:05:01.860
He's been in there for 20 years before he's paid off half.
01:05:05.720
Now, if you think this is bad enough, at least this isn't too bad.
01:05:08.540
At least if you buy a house when you're, I don't know, 35, and you've got a 30-year mortgage,
01:05:13.840
and you pay it off by the time you're 65, okay, fair enough.
01:05:18.000
But I mean, how many 15-year-olds are buying a house for a 50-year mortgage so they can pay it off by 65?
01:05:25.060
I mean, that blue line is sort of the norm of what we grew up in.
01:05:28.980
I mean, that's sort of similar to what I've got.
01:05:33.780
That's similar to what a lot of people have got.
01:05:36.580
People that started 10 years ago, 15 years ago.
01:05:48.160
I mean, somewhere between 20 and 30, that's just standard the world over, really.
01:05:52.800
I mean, Japan, they briefly experimented with 100-year mortgages that you passed on to your kids in your will.
01:06:06.520
And the other way to think about this is the area above the curve is your interest payment.
01:06:12.760
So, you know, if a 15-year mortgage, let's call this A, that's your interest payment.
01:06:17.720
This is B, so A plus B if you're on a 30-year, that's your interest payment.
01:06:21.600
And look at the size of the interest area you're paying with a 50-year mortgage.
01:06:25.980
And the other thing, just to come back to this point, you've been there almost 30 years before you paid off a quarter of your house.
01:06:37.860
And let's say you're a 35-year-old and you take one of these out.
01:06:42.020
You're almost 75 by the time you paid off half your bill.
01:06:48.020
I thought Mr. Trump was a master of the art of the deal.
01:06:52.360
Not for the average American trying to start a mortgage.
01:07:02.500
But when it comes back to this point, area above the line.
01:07:09.840
You know, here, bank only gets the area under the line.
01:07:16.900
You can see why, you know, mortgage companies like that.
01:07:27.420
Another word for interest you could use, isn't there?
01:07:39.240
When I say indentured servants, I mean, might as well be slaves at this point.
01:07:44.520
So, anyway, let's have a look at that typical average house.
01:07:53.880
So, if your mortgage for the average US house is 15 years, in total, you pay back $600,000.
01:08:01.520
So, you know, you're paying back a 50% premium in order to, you know, defer your payment.
01:08:11.520
Now, see, that's still, in a fair world, that's still a complete piss take, isn't it?
01:08:20.220
I mean, imagine if you came up with the idea of banks.
01:08:24.360
I mean, the first bank that figured this out was like, oh, bloody hell, that's a good deal.
01:08:27.900
So, we get to make $200,000, 50% over 15 years.
01:08:39.660
And if he buggers up and doesn't pay it back, we repossess it.
01:08:48.620
So, then, total paid on a 30-year mortgage, you pay back basically double.
01:08:54.180
You're paying the full price of the house just as interest on a 30-year.
01:09:02.260
If you do this over 50 years, the full price that you're paying back on your £410,000 mortgage
01:09:11.620
Of which double the price of the house, £800,000, is how much you're paying to the bank.
01:09:29.080
You have to be independently wealthy to just pay for a house up front.
01:09:35.340
Well, I mean, there are solutions that the country has a whole lot of dot.
01:09:48.820
People that have got hundreds of thousands of pounds of liquid capital will still probably
01:09:55.460
They probably wouldn't go for a 50-year option, but you'll still be like, well, I want a lot
01:10:01.100
of that money to just spend on me in the intervening years, on holidays and cars and things.
01:10:08.200
When, in fact, the most prudent thing to do would just be to buy the house.
01:10:14.580
I mean, a lot of mortgage providers don't even let you do that, right?
01:10:18.360
I think a lot of mortgage providers, if you said, look, I've got £400,000, let me buy
01:10:23.240
that house, just boom, straight up, they'll be like, no, we don't offer that option.
01:10:35.620
But, I mean, yeah, I mean, I'm in that situation.
01:10:37.780
I've got liquid capital, but I still have a mortgage.
01:10:40.320
And the reason I do that is because I can borrow money at 3% and invest it at much higher
01:10:46.560
But then I do have a system in place that I can pay back that mortgage if I need to
01:10:54.420
But that's not really the situation most people are in.
01:10:56.420
Most people are just going to max out whatever amount of borrowing they can, load the missiles
01:11:05.100
Because there is an interesting mechanism where what you should potentially do, right,
01:11:09.940
is you should go and buy the house that you can afford to pay back over 15 years and
01:11:20.360
And then that money you take and you go and invest.
01:11:25.460
Well, I was just saying, that only works if you're savvy enough to invest properly.
01:11:31.440
Because all this is, all the problem with all this is, is when you borrow as much as you
01:11:36.940
possibly can on what you earn, what if you lose your job or something happens, you get
01:11:43.640
ill or you've put all your savings into investments and they tank?
01:11:49.740
Anything can go wrong in your life over 15 years, let alone 50 years.
01:11:54.220
Or you're guaranteed your income is never going to go down.
01:11:58.200
Well, that's why I kind of feel compelled to mention that example.
01:12:01.380
You should buy the house that you can afford over 15, take the 50 and invest the difference.
01:12:07.120
Because, I mean, people will scream at the comments if I don't mention it.
01:12:11.480
It is a tiny percentage of people who are, one, going to be savvy enough to do that.
01:12:19.340
I mean, the vast majority of people are just going to bid up the house prices, max out their
01:12:27.400
And if they lose their job, they're just screwed.
01:12:29.160
And I don't want to be too sycophantic to you, the great Dan Tubb.
01:12:37.380
Most people invest money and lose it because they don't know what they're doing.
01:12:45.120
Most people aren't, to be fair, most people aren't capable of taking any savings or lump
01:12:50.780
sum they've got and investing it wisely enough to get more than 6%.
01:13:04.760
Every so often the wife comes into my office when I'm doing some finance stuff and she
01:13:08.680
And I start explaining and then she just looks at me and says, I'm sorry, I asked and turned
01:13:21.780
Like most things, like trying to paint an oil painting or write a novel.
01:13:25.880
The first few times you do it, it will be crap and you'll fail.
01:13:29.260
The first few times you are going to fall off, 100%.
01:13:36.900
If you start asking average Americans to do this, especially like 30-year-olds, they're
01:13:40.740
just going to stick it on some weird crypto thing.
01:13:43.800
And yeah, they might be able to buy a mansion at the end of it or they lose it all in the
01:13:47.840
And, you know, the first is probably more likely.
01:13:51.000
I also wanted to take a quick look at, you know, I also looked up what is the most average
01:14:01.920
Yeah, I think I asked ChatGPT, I asked it, what is the most average of average places
01:14:09.300
And apparently it's Illinois and it's this, whatever the hell it is, like, oh.
01:14:20.980
You guys in the States have no idea how expensive stuff is.
01:14:27.020
I can't remember what this city is called, Perno or something like that.
01:14:32.980
Yeah, that house there for the top left, $225,000.
01:14:37.160
That would be like a three million pound house here.
01:14:50.380
So Mr. Average on a 15 year mortgage, he should be buying a 260 house.
01:14:55.320
So let's go and see what Mr. Average can get in the most average town.
01:15:33.540
But then this is average town and not like New York or, you know, where is it that you
01:15:38.920
live that the Democrats have been elected for the last 30 years and have basically stopped
01:15:42.800
your building from happening through rent controls and housing regulation?
01:15:45.840
So the biggest downside to all of this is you have to live in Illinois.
01:15:52.320
I've never been to Illinois, but I'm sure it's all right.
01:16:21.700
I was going to say, frankly, that's better than the flat I live in, which hasn't even
01:16:35.760
So, and the other weird thing about the American market is you can't take your loan with you.
01:16:48.800
Let's say you went in at a really low rate and you've got that 30-year deal and a job
01:16:55.580
opportunity opens up a couple of hundred miles away.
01:16:58.780
If you sell the house, you're going to lose a deal and refinance at whatever it is now.
01:17:09.120
There might be ways around it like that, possibly.
01:17:13.840
So, in Averageville, Illinois, 400 grand, I imagine, does buy you truly a mansion then.
01:17:23.760
You could get a massive property for 400 grand in suburban Illinois.
01:17:29.760
I tried to find one and apparently this is the most average town in America, but I tried
01:17:34.440
to find one at 400,000 and it was unsuccessful.
01:17:40.080
Rather than a scroll through and try and find something that's 400 grand's worth, I think
01:17:50.900
Because, to be fair, not every town in America is like average town.
01:17:56.560
Well, I mean, what actually fixes it is building more homes.
01:17:59.800
And typically, the places with the biggest problem are the places that have Democrat
01:18:03.800
mayors that put rent controls and housing regulations.
01:18:08.460
He comes along and says, I want housing to be better.
01:18:10.200
So, I'm going to put all these regulations on, which makes it more expensive to build.
01:18:16.740
If you don't have zoning restrictions, what you get is a blend of residential and commercial
01:18:26.960
But the Americans, they love their zoning restrictions.
01:18:30.040
So, that, again, is another massive impedance to it.
01:18:38.540
And allow mortgages to be transferable, to take them with you to a new property, like you
01:18:51.660
Effectively, just taking money out of the pocket of your average Joe and giving it to mortgage
01:19:02.820
I mean, just look at, you know, this area here.
01:19:14.380
And why he wants to compare himself to FDR, who's probably one of the worst presidents
01:19:23.100
If that's actually what he believes, he's just being honest then, isn't he?
01:19:28.040
But, yeah, hopefully the next MAGA president is not a line-go-up boomer.
01:19:41.240
Bim Jim says, message deleted by podcast of the Lotus Eaters.
01:19:44.760
My God, that must have been, that must have been spicy.
01:19:52.740
If no one asked for this already, can we have a Brokernomics on mortgages, please?
01:19:57.320
You've talked about mortgages before, haven't you?
01:20:01.020
I've mentioned them in passing on a whole number of times.
01:20:03.760
The thing I want to do with you is about mortgages.
01:20:24.460
But no, I have to think about doing one of mortgages.
01:20:34.300
You guys are talking about mortgages when you have no idea what you're talking about.
01:20:42.140
90% mortgages never reach maturity to selling refi.
01:20:55.140
I mean, he's right that you can refinance into something else as you go further on.
01:20:58.840
But that kind of got to the point I was talking about is you have to kind of treat it as you have to buy the house that you can afford
01:21:03.860
and then just treat it as a way to lower repayments and do investments on the side.
01:21:07.760
But it's still a false economy, though, because look at that graph, for example, the amount of the actual principal you're paying off.
01:21:19.060
Well, because you can buy something and it's got cheaper monthly payments.
01:21:23.100
Well, it only works if you're investing alongside it, because otherwise you're just building up no equity in it.
01:21:28.040
So the only equity you're getting is the debasement effect on the price of the property.
01:21:36.000
Strange History says, new show idea, Zillow Eaters Gone Wild.
01:21:45.680
He thinks we should do a show where we look at American homes.
01:21:54.060
It would just be frustrating that all their homes are dirt cheap.
01:22:00.920
We should have a look at the comments of the lovely subs.
01:22:16.720
I haven't got them on my screen here, but could do.
01:22:19.680
Was there not any for the other side of the chat?
01:22:23.760
I'm familiar with the average town, but in America, when you see prices that low, it means crime made people run away.
01:22:34.960
I didn't check out the demographics of wherever the hell that was.
01:22:40.800
Someone else just calls it a money laundering scheme.
01:22:45.980
I mean, take that up with smashing Rand something.
01:22:55.900
I mean, it hardly makes any difference to the monthly payments.
01:22:58.820
So it's just going to trap people who go the term.
01:23:08.920
I trust Labour to create government bodies and procedure, not to use them for good.
01:23:17.340
I trust Reform UK to use the existing government bodies for good, but I expect them to get bogged down.
01:23:24.080
It's entirely possible here that Mahmood is doing what Faraj can't.
01:23:28.260
Create the mechanisms for him to use and enact deportations.
01:23:36.400
I've got no faith Nigel's actually going to do anything like that.
01:23:40.780
But it would be nice if that were to be the case.
01:23:56.220
And I think he said, we always pronounce his name wrong.
01:24:02.120
But I forgot what he said was the correct pronunciation.
01:24:16.580
Anyway, I do remember that you tried to correct us.
01:24:20.120
But don't remember the correct pronunciation, so I apologize.
01:24:23.280
He's a gold tier Zoom guy, so we appreciate it.
01:24:27.760
He says, even without taking into account the fact immigrants shouldn't have access to
01:24:32.060
benefits of any kind, any real asylum seeker should be eternally grateful for safe harbour.
01:24:40.980
Instead, we get complainants of human rights violations for conditions better than any armed forces
01:24:52.340
Yeah, the idea that they sort of refuse to be put up in a barracks.
01:24:56.100
Yeah, so why was that okay for people that you literally, you know, you've employed to defend the country then?
01:25:01.880
It's good enough for real patriots who are prepared to be recruits for a while or do national service back in the day or whatever it was.
01:25:08.200
It's not good enough for someone that's just come over.
01:25:18.520
All right, I'll let you do some other comments.
01:25:22.380
Fuzzy Toaster says, I demand a Pakistani manservant and a harim.
01:25:27.400
If I'm paying for it anyway, I may as well have it and benefit from it.
01:25:33.600
Sophie says, reminds me of the story of the sixth largest economy in the world giving foreign aid to the second largest economy in the world.
01:25:48.740
With so many Indians and Pakistanis coming to Britain, it really makes you think if British rule in the region was really that bad.
01:25:59.420
At a certain point, the world needs to, like, pick your battles.
01:26:05.440
You know, you either want all the benefits of the West or you don't.
01:26:08.560
If you can't get your shit together, then just ask us to rule you again.
01:26:13.920
Yeah, the British Raj in India, the British government in India, was a net positive for that part of the world in almost any metric you can imagine.
01:26:26.800
But, okay, colonisation was just bad and evil across the board.
01:26:38.980
Saying no to a harem is always a difficult thing.
01:26:47.460
Presumably there was a reason why when they had harems, they went further afield to get their stock.
01:26:58.820
That's probably a subject for another podcast at this point.
01:27:06.220
Yeah, the 50-year mortgage is not a great idea after saying Dan's math, but still a better idea than the Australian Labour government dropping the percentage of savings required for a home from 10% to 5%, thus ending raising the price of houses.
01:27:20.920
Whenever you put more borrowing into a system, unless you create more houses at the same time, it's just more money chasing the same properties, and therefore they get bidded up.
01:27:35.260
In that Australian example they said there, and in the 50-year mortgage example in America here, you quite quickly get to that, what they call subprime mortgages, right?
01:27:47.320
And that was that Fannie Mae and Freddie Mac thing, where basically people were trying to buy houses they ultimately can't afford.
01:28:03.000
We're slightly late on time, but we started late, so I'll go over and just make that point.
01:28:08.980
So, the problem is when you started with mortgages is, from the first blush, it's bad for the bank, right?
01:28:16.460
Because the bank is looking at this and thinking, okay, I've got no idea what the state of money is going to be in 10 years' time,
01:28:21.860
but I've got to write a commitment now to receive a fixed income from you to buy this thing,
01:28:28.260
and I don't know what my return profile is going to look like 10 years out.
01:28:33.080
So, what they did is they started creating things like mortgage-backed securities.
01:28:36.680
They started securitizing these things to stretch them out for the long term,
01:28:40.720
and then actually they realized, oh, actually, this is bloody good business,
01:28:43.480
because now we've got this securitized long-term income that we can then sell off to pension funds
01:28:47.060
or whoever wants a long, stable income stream, and actually we can churn them through really quickly,
01:28:52.220
so we just want to write as much business as we can, and the longer-term debt, the better,
01:28:56.720
which is why they're probably so happy to be getting 50-year mortgages,
01:29:00.680
because now they can sell 50-year income streams as a securitized product.
01:29:11.900
it's my understanding Trump is doing 50-year mortgages because one of his advisors kept pestering him about it.
01:29:17.580
He's basically doing it to get that advisor off his back,
01:29:21.100
which is just as bad as doing it because boomer line go up.
01:29:25.140
Well, whatever reason it is, I think this is one that deserves a little bit of pushback.
01:29:32.220
If that's true, yeah, that's terrible leadership.
01:29:43.540
my parents bought their house for 500,000, four rooms, three baths, 1.5 acres.
01:29:48.620
Now the house is worth, to the bank, 2.1 million, and they haven't done anything to it.
01:30:00.540
well, the only thing I will say for this is it benefits banks and people who already have property,
01:30:05.440
but you're not going to sell your house, so what good does it really do you?
01:30:12.500
I mean, really, the only people who benefit from it are people who've got an elderly relative
01:30:16.680
who's about to die and they don't need to move into it.
01:30:19.080
As I say, it might benefit if you pass it down through your family.
01:30:30.460
So, probably not a white pill segment episode today.
01:30:38.660
There wasn't much white pill in there, to be fair.
01:30:41.600
Maybe we do a bit of white pilling by the end of the week or something,
01:30:44.880
but we've got to dish out the black pills now because we were oversupplied.