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Richard Wolff explains the national debt

Richard Wolff explains the national debt

(6:11) American Marxian economist Richard Wolff explains how we got to austerity.

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Guest: (459 days ago)

He didn't explain the effect of government borrowing from itself. It’s around 40% of all US debt.

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He didn't explain the effect of government borrowing from itself. It’s around 40% of all US debt.

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Guest: Christine.H (459 days ago)

He also did not mention the 40 billion Dollars a year we GIVE to Israel and they lend it out (at interest) back to our citizens!

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He also did not mention the 40 billion Dollars a year we GIVE to Israel and they lend it out (at interest) back to our citizens!

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Guest: (457 days ago)
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He also didn't mention how maintaining huge debt levels produces a approximate $500 billion per year trade deficit, for the last 40 years. Austerity in the USA is the only way forward whether they like it or not.

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He also didn't mention how maintaining huge debt levels produces a approximate $500 billion per year trade deficit, for the last 40 years. Austerity in the USA is the only way forward whether they like it or not.

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