Today's EU: Global Debt
December 11, 2019
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as posted by the channelToday's EU is a video series for the Economic Update Patreon community. Patrons of EU get first access to these topical and timely videos from Professor Wolff. Videos are released to the public a week later, here on Prof Wolff's channel.
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In Today's EU, Prof. Wolff talks about global debt incurred by corporations, governments and households has tripled in the last 20 years. This unprecedented explosion of debt has been the result of low interest rates and stagnant wages and incomes. The capitalist system has failed to provide people with incomes, wealth and securities they need so they have resorted to endless borrowing to bridge the gap.
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