After the US government shutdown of 2018-2019 witheld two paychecks from 800,000 federal workers and countless more contractors and businesses, and with US officials encouraging furloughed employees to simply take out loans, we've got debt on the mind again. Citizens of the US and UK are experiencing record high levels of debt concurrent with falling wages, and higher costs of living. But the financial systems that enable these vicious debt spirals play out on the world stage, as private companies and wealthy governments alike employ innovative strategies for ensnaring vulnerable countries, companies, and individuals in inescapable economic webs. Vulture funds play an important role here, but we also want to understand how the opportunities for vulture funds open in the first place. Will we finally solve the global debt crisis, or will the hole get deeper and deeper?

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Chapters

00:33 Debt on the Mind

13:35 Africa: opportunities for predatory financial systems

26:30 Sudan and the HIPC Initiative

34:32 Puerto Rico: Vicious Cycle

47:15 Debt in a Climate Change World

50:38 What Can We Do?

Sources

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Published 31-01-2019 00:24