Global debt is unpayable: How Wall Street traps poor countries, profiting rich ones
All the debt in the world is three-and-a-half tim…
Geopolitical Economy Report · Ben Norton
October 10, 202359m 48s
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Show Notes
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