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Global debt is unpayable: How Wall Street traps poor countries, profiting rich ones
Published 2 years, 4 months ago
Description
All the debt in the world is three-and-a-half times the size of the global economy: 349% of GDP, or $37,500 per person on Earth. It is unpayable. But poor countries are forced to pay high interest rates to rich bondholders on Wall Street, while Western vulture funds profit. Journalist Ben Norton analyzes the deeply unequal international financial system.
VIDEO: https://youtube.com/watch?v=WRkhWQ0sRn4
Watch the first part here - "A huge debt crisis is coming": https://youtube.com/watch?v=Ib3QOBbQR2g