Economist Jayati Ghosh: Global Debt Crisis Is Perfect Storm of Unrest, Economic Disaster, Starvation

[@ayalneh1245]

I greately admire this professor. She briliantly explained the issue of debts and the associated problems facing many countries. I am sure many economists at the World Bank, IMF and the US Federal Reserve don't want to hear such kind of analysis. But many economists and government officials in indebted countries will appreciate her analysis. I salute the Professor.

[@JD-lt7uv]

How many people will invest in foreign bonds if they know they are just going to piss your money away? Poor nations will be barred forever from accessing debt.

[@brucebrothers2373]

She is so full of crap. Third world countries (think Argentina) constantly elect corrupt politicians who promise them the most free stuff, and then proceed to run the country into the ground while stealing it blind. They then blame anyone who was stupid enough to loan them money. How dare they expect to be paid back!! Over the years, trillions of dollars of debt has been written off and absorbed by the lenders, but the answer is always give us more.

[@xenocampanoli815]

The fact that modern societies cannot take these hunger emergencies at these levels as a much more serious matter is damning on what we have made. This is a disaster, and we must never let these financial feudalists walk free from this disaster at any future step.

[@nottenvironmental6208]

Climate change is an emergency from a scientific perspective and due to science conservative assessment this is alarming and will get exponentially worse until taken seriously

[@JD-lt7uv]

You could give each country a billion dollars and where do you think it would end up? In the hands of the people or their corrupt overlords who mismanaged and embezzled their nation's money to begin with?

[@crispnhollow7300]

@@JD-lt7uv And where do those corrupt politicians reinvest thier stolen capital?

[@xenocampanoli815]

@@JD-lt7uv Right.

[@xenocampanoli815]

@@JD-lt7uv The problem with price of labor in the toilet is no matter what you do, because there is a serious value to collusion, someone will scab, cheat, or otherwise help the bad guys. It is very hard to "enforce" cooperative idealism when the object of the idealims has the value of a rock at the bottom of a lake. Yes, we can all say we care about each other, but fact-based thinking requires something else, and the starting point of that needs to be that we recognize sustainable population levels are NOT where we can maximize until we can no longer keep up production of consumer goods as we like, but rather, where we, as an organism, naturally cooperates sustainably. Given what we see in my lifetime, I'm thinking numbers for that will be in the few millions, not the billions as now, so we'd better work hard to make sure those numbers are reduced humanely, cooperatively, and non-violently.

[@jgwizo]

One thing that is astounding is what BRI and China has proved that Africa's economy could be substantially improved within 15 years or so. IMF has been lending for decades but has nothing to show for the strategy is capitalistic and aim to keep others poor.

[@michaelteng6076]

IMF's intention was never to improve the conditions of the African countries.

[@nadiawheeler4772]

Best explanation of the Western Leadership's role in the economic crises we're all facing...

[@tuckerbugeater]

Fauci's bioweapon created the crisis.

[@NotAPacifist825]

Well it's a good start. The answer lies in structural change and a willingness to actually help the third world rather than enslave it. The goal would be to help create sovereign nations with strong economies, healthy and free populations, and robust international trade. You could call it a "Belt and Road Initiative."

[@JP-fn5xt]

Or, you could interrupt the U.S. with hatred as you try to play the role.

[@NotAPacifist825]

@@JP-fn5xtincomprehensible comment 🧐

[@keithfernandez8965]

THIS SITUATION IS TRULY FREAKING ME OUT....MAY GOD BLESS THE CHILDREN OF THE WORLD...

[@Thormp1]

There are no Gods LOl ,These irresponsible US states have let religion turn their own citizens into ignorant, superstitious savages, unable to work in reality, unable to correctly evaluate data, and unable to divorce fiction from non-fiction, treating both with the same level of credibility.

[@nadiawheeler4772]

We'll figure it out., love prevailing

[@DK-zu6tt]

This Economist is so intelligent, well read, beautiful and please have her on Democracy Now more often!!

[@TheVanillatech]

She has a face like a bulldog chewing a wasp.

[@matthewdarnell3535]

She really is! Well said!

[@sufferingsuccatash7720]

She is right about China's role in lending. China is not a problem in holding debt. Rather countries are turning to China for lending. The IMF and its vulture bankers who come in to collect sovereign debt through privatizing national resources. There needs to be a clearing house for this sovereign debt.

[@tuckerbugeater]

To destroy the US dollar and replace it with more authoritarian digital currencies.

[@jgcelliott1]

Take it out of the hides of the leaders who took the loans and ran to Switzerland. .

[@sonnyjohnson8887]

Sure china will lend sovereign nation money , as long as you give them control of your ports for 100 years

[@berniesbend]

China isn't the problem, but it sure isn't a solution. Their own banking system is melting down as they allowed oligarchs with investment firms to pose as banks and steal their depositors funds then flee the country. More millionaires in China are still seeking ways to flee China with their ill gotten gains.

[@kemosabe6693]

Vulture bankers is such an appropriate description .

[@MrTwenty20video]

This was an intelligent presentation of solutions to systemic problems that are fixable.

[@rickb3650]

Solutions are never lacking in any non-natural crisis. The problem underlying all the other problems is that the people and institutions charged with choosing and implementing solutions simply refuse to do their jobs. We've been here so many times before, and every time we've seen the same thing repeated over and over again.

[@lisakenton2392]

China holds less than 10 percent of the worlds debt just as she says. Nice to see Democracy Now shilling for Wall Street.

[@Dot-Dot-Dash]

Thank-you for bring clarity to confusing and enormous problems.

[@michellemobakeng5938]

"...confusing and enormous problems" by design. The rotten fruits that developed out of sight for decades have come to maturity and cannot hide anymore. The smell of those rotten fruits are making us feel nauseous and we can trace the tree that carry them to the satanist-luciferian globalists who have been leading the world through the European Union, the United Nations and their satellite world organisations as well as their agents in governments who all are affiliated to Freemasonry, Illuminati, Black Nobility, World Economic Forum, Bilderberg, Club of Rome, Committee of 300, Trilateral Commission, Jesuit order (the current pope, Francis, is a Jesuit - Jesuits pledge Roman Catholicism world supremacy), Elite, industrialists, Council on Foreign Relations, and many other secret societies. These psychopath globalists thrive on chaos: financial, economic, social, moral, environmental, spiritual, physical and divisions among populations for out of chaos and disorder they can bring their solutions, solutions that advance their agenda, that is ushering the dystopian One World Government of their master, at the head of which the Roman Catholic Church (merely a Christian church) as one world religion, one world currency, one populace (multiculturalism), one economic market, one army, one current of thought, one gender or no gender at all (gender neutralism)…but it will fail miserably and at unbelievably great cost to humanity. The worse is at the door; billions will give up out of fear, torment, starvation, to keep their lifestyle but there won’t be any, possessions and positions. Oppression and persecution are also at the door; billions will be killed as per the New World Depopulation agenda of, you name it, the globalist elite. While this is happening, many will accept the Truth that will save them. Did not Jesus said as reported in the Bible: “Then you will know the truth and the truth will set you free.”? John 8:32

[@nelsongoh3977]

Should freeze the asset of Prime Minister and President of Sri Lanka to settle the debt and inject more funds thru world bank and IMF to revive their economy

[@newedgegt305]

There's nothing to worry about, they changed the definition of what a recession is so there's nothing to see here folks

[@duellingscarguevara]

1.25L soft drink, is now 1.1L. That should do it?.

[@chongdi6140]

Without saying it in so many words, Jayati Gosh had intended to mean that the US/Western governments have intentionally kept the third world countries perpetually in debt, miseries and turmoil so as to manipulate them geopolitically.

[@JD-lt7uv]

You could give each country a billion dollars and where do you think it would end up? In the hands of the people or their corrupt overlords who mismanaged and embezzled their nation's money to begin with?

[@michellemobakeng5938]

That is correct. This happened at the end of WWII. The Illuminati divided the World in three : the First world belong to democratic-industrialized countries aka The West, the Second world: eastern bloc of the communist-socialist states, and the Third world: poorest or underdeveloped countries of the world.

[@michaelteng6076]

You are spot on, and this is what is actually happening.

[@Validboy]

@@JD-lt7uv No, that is because the leader put in place as puppet NEEDS to be a corrupt individual... If they are not corrupt, US doesn't consider them "manageable"... Funny thing is, US often bring these noncorrupt people down with false claims of corruption to muddy the waters, usually made by a crowd of bought off politicians. You just seriously underestimate the amount of politicians bought off by the US and are actually naive enough to believe that all these very unpopular and corrupt leaders are actually elected naturally and representing their population... They are normally educated in the US or EU actually and turned by your agencies while there...

[@davidhughes4527]

Correct.

[@goldentiger1841]

Brilliant economist from New Delhi.

[@TheVanillatech]

Thankyou! COME AGAIN! :D

[@rumlia]

As Amartya Sen stated about the Great Bengal Famine, it is not the availability of food or money, but the refusal of governments to allow poor countries and people to access that.

[@123xyzabccba]

“When it comes to choosing between US interests V/s Morality the US interest is supreme “ - Dick Cheney

[@youbean6664]

Liz for President...NOT

[@Ianpact]

Thank you, Jayati Ghosh, Amy, Juan, and DN! crew.

[@RR-tt2cx]

Namaskar Jayti, The global west does not care for the rest of the world (it is not there problem) . I did see you were emotional while talking of the under developed world. People like you can make the world a better place to live.

[@nowonami2524]

the indebted countries have to get together and mass default. the vultures cannot feed except on isolated and weak victims

[@Tlahuiltezcatl]

GREED IS THE ROOT OF ALL EVIL

[@michaelteng6076]

The greed of the G7 countries and their Imperialist natures.

[@sevecc939]

Thank you for this clip and Jayati Ghosh's analysis. This is being glossed over so much in the UK where I am. Very much correct about large companies profiteering during the pandemic.

[@classyjade7857]

If you keep ppl and/or countries from being able to establish themselves it’s easy to sit back & allow the decimation when your plan is always to remain on top & keep others from competing. They’ve done it intentionally thru unrest, war, regime change etc it’s not far fetched to think they would allow a crisis to do it “naturally”. Germany is a yt country so it’s not shocking they restructured their debt vs these countries that are largely blk/brown!!!

[@graciebara8280]

Europeans will always look out for each other that's a fact.

[@PinprickSociety]

As a Mexican-Caucasian American born and raised in Chicago, military veteran, once a history student, then neuroscience, then law, now Pinprick, having lived in either very liberal or very Conservative cities all my life, all over the US, a few cities in the Middle East. I think America should be a better friend to India.

[@PinprickSociety]

If you're reading this...welcome to the end of the Internet. You can go home now. Remember to enjoy the rest of your life.

[@pam6760]

America is no one's friend and India knows it too well!

[@HT-br1uh]

It will never happen. They’re not white

[@abdullahdarwish7203]

Incredible insight

[@brunivel5152]

Very intelligent woman she knows what she is talking about she knows what you need to do to resolved the issues and she knows what's going on around the world with the money whit the monetary funds but the countries with money don't care!

[@sizzla123]

Good report "The inscrutability [of economics] is perhaps not unintentional. It gives endless employment to dialecticians who otherwise might become public charges or, at very worst, swindlers and tricksters." Jack Vance

[@kasunkt]

Sri Lankan here. Democracy now supposed to be an alternative but when they ask "Sri Lankan" about the situation they always interview a western stooge like the one who calls herself an activist. These rich kids in Colombo got western back.

[@hasanchoudhury5401]

Glad she is speaking up with authority for the billions of people around the world where the people have no voice. IMF has been predatory for decades under the disguise of emergency friendships. From Greece Argentina to Pakistan etc IMF have been not helpful but demeaning. But each country have also followed their own self destructive policies for years. India has some of the best talents and minds in the world but some of the worst corrupt politicians. Pakistan and Bangladesh are similarly grossly mismanaged ! USA has no coherent policies at all while gyrating from recession and monetary excess. It seems we are facing great potential famine and conflicts. Best regards.

[@dariusmani7698]

Pakistan is way worse than Bangladesh they're not the same

[@muktiprateekdas9769]

Sorry to say it but most of the debt is self inflicted. The leaders of country went on building infrastructure with lack of any returns .

[@ronrice1931]

Good interview, as damning as it gets. Evidently we cannot blame Russia for the global debt crisis, since if we could, Democracy Now! surely would.

[@keithfernandez8965]

If we didn't spend all our wealth on WAR...JUST THINK ...WE COULD OF INSTEAD... FEED THE WORLD !@

[@lauralafauve5520]

Ikr???!!!

[@tuckerbugeater]

@@lauralafauve5520 The world is fed from low quality GMO grains! These countries who receive free food need birth control.

[@lauralafauve5520]

@@tuckerbugeater GMO grains that can't reproduce themselves, that need fertilizers that must be bought, that kill the natural biome so that the soil is dead? You need to study up, bud, before coming up with simplistic solutions.

[@saphiquefemme]

I disagree. You cannot save the whole world at the expense of your own country. It's good to help the world but all countries must be held accountable to help their people and solve their problems. The problem with America is we are obligated to help which in turn gives a big negative humanitarian ego. America neglects to address it's own problems in the process. We are much worse now. That's proof enough

[@kyotojoel]

"(Debt restructuring) was done for Germany in the 1950's but for some reason it's not being done today..." And the trillion dollar question is: Why not? Probably several reasons, and none of them pretty.

[@jarvisaddison8560]

Name a few if you can?

[@kyotojoel]

@@jarvisaddison8560 The economist historian Michael Hudson does a good job of explaining this, but basically, if you want to try and remain a superpower, you keep other countries in a state of underdeveloped dependency, even if it leads to mass starvation, unrest, etc.

[@schmacdaddymcfly4059]

Thank you professor

[@thusspokezarathustra]

There needs to be a total revision of Capitalist theory; as Neo-Liberalism, simply has failed to create enough well paid stable employment to successfully lift hundreds of millions living in poverty due to unequal distribution of opportunity. By this I mean: the opportunity to become well educated from primary education through to tertiary education; the opportunity to be employed which includes social supports such as access to quality healthcare, paid leave, paid sick leave, employee/employer shared pensions schemes, access to ongoing adult education. Instead there has been an surge of precarious short-term, part-time, gig work opportunities that provide zero security and require zero responsibility from business offering such work. The winners in the Neo-Liberal Capitalist system are the top 5% who own and control more than 80% of the wealth creation and reward of the economy. This is further supported by massive QE bailouts of the well-heeled as apposed to comparitively very little social support of those at the bottom of the economic hierarchy. This must end. A second Brent Woods Agreement is needed in which both the political and economic global leadership hammer out a new commitment to rebalance Capitalism to serve everyone not just the few winners. When war breaks out we see that states have an infinite capacity to serve the military needs but zero capacity to support citizens in despite need. It is time to split off the social support mechanisms and funding away from the operations of day to day economic needs. Social support needs to be seen and approached as a sub-economic necessity, therefore the funding sources need to be detached from the Capitalist narrative - a narrative that claims that money is scare - it is not. QE starting with Japan and ending with the latest rounds, prove that Modern Monetary Theory (MMT) works in practical terms - that is that any sovereign state can spend to support the public good as long as it spends within its own sovereign money for the welfare of its own people. Investment into good quality education, healthcare and other social supports is a necessity for any well functioning state. Advances in technology, work processes and management has largely worked to reduce not increase the need for employment - this will only gain more momentum in the following decades. We need to become use to much of the population being underemployed as the character of employment is fast changing over the entire globe. Therefore citizens dividend, Universal Basic Income, Basic Income Grant - call it whatever you want - it needs to become part of the globally accepted scheme of things. It is a shocking shame than while companies are realising multiple billions of US dollars income and profit, there are citizens that find it difficult to feed themselves, cloth themselves, shelter themselves.

[@lauralafauve5520]

You got it.

[@tuckerbugeater]

@@lauralafauve5520 I bet you more people die and suffer in the next decade then in the last 50 years.

[@pam6760]

US has packaged Capitalism so well to its populace, that without realizing the common people have endorsed it and thus forsaken their lives, future and sovereignity. Covid and various evonomic crises should have at least awaken the people now. It was the sweet deal with the Devil, it seems like now.

[@lauralafauve5520]

@@tuckerbugeater I would not take that bet!

[@marklampo8164]

Everybody in India has a degree and no job; sounds like the USA! So the answer is throw money at "education!" Throw some money at rich people again!!

[@alfredoleal2101]

Why you didn't mention the protests in Holland UK Spain and other European countries.

[@jarvisaddison8560]

Um you know why...

[@skinscapetattoo]

Ghosh is superb!

[@djnkosi]

Excellent guest.

[@JD-lt7uv]

What about the responsibility these counties have to cut corruption and take care of their own people? The problem is most world leaders are hopelessly selfish and crooked.

[@sjaw100]

Absolutely it is the private creditors (USA/EU ) are responsible for the enormous debts in the developing countries, not China. Besides Chinese debts are for infrastructure such as railways, ports, power stations and dams - that will all help the productivity of these countries.

[@rjdebruyn]

Why is the IMF so brain dead? We are already in recession. There is no ‘brink of recession’ aspect any longer. The question now is how long will it last.

[@AlixKsandra]

Several years...

[@rjdebruyn]

@@AlixKsandra Actually we’ve already been in a state of perpetual recession for several years. The only reason we’re officially not in recession at times is that Government deficit spending overwhelms the calculation - which it will again within a few months. The GDP formula should not include government spending since government doesn’t produce anything. Production should far outweigh services in terms of importance. They should have another category called GDS - Gross Domestic Services. Capital created from production is used so people can have services. Without some type of production whether it’s agriculture, mining, manufacturing, education ( yes I consider education production) services can’t and won’t exist. That’s why I have far more respect for teachers than lawyers , bankers/finance pers, politicians or bureaucrats. Most are just leeches to society and should have a minimal footprint. By default teachers should be compensated the most of all the above. And no I’m not a teacher.

[@laurentsaint-laurent3659]

Makes me want to re-read "Bad Samaritans"byHa-Joon Chang.. Glad to see this professor has a tenure in an American university..

[@1971jwing]

Multinationals are not citizens and we must not blame regions for outcomes. Control comes in many forms and has to be regulated to ensure fair action without exploitations. Great health to all.

[@WillieMakeit]

I wish the media and the government would try to change the situation instead of promoting Doom and Gloom it's obvious that we're being set up for failure

[@perlefisker]

And when the debt is written off, what then? Taking up new loans, making business as usual? Isn't it a completely new financial system that is needed, and not surgery on a terminal patient?

[@Sidtube10]

Thank you. Restructuring or write off are only a band aid.

[@JorgeLausell]

Jubilee! A global erasure of all debt, part of a global economic reset, a deweaponizing of the monetary systems, can be done with great effect. Liberates emerging economies from under debt that were created, through corruption, as a means to dominate them. McNamara set out to do this from the start. Jubilee. For countries. For individuals.

[@tuckerbugeater]

you can free their debt but you can't fix stupid.

[@noname123456]

Yes. You're familiar with Michael Hudson, I assume. Have him as a guest asap!

[@JorgeLausell]

@@noname123456 don't know him. I'll read up. thanks. Imagine No National Debt, it isn't hard to do. Dreamer? The debt whip-leash needs to be put down.

[@whitemoon5752]

Never borrow in USD..it happened in 1997, 2008 debt financial crisis still the global south countries never learn why???

[@alexgoslar4057]

Professor Ghosh, Thank you for clarifying the core of the financial problems. People's obsession of selfishness seems to be insurmountable.

[@michellemobakeng5938]

The rotten fruits that developed out of sight for decades have come to maturity and cannot hide anymore. The smell of those rotten fruits are making us feel nauseous and we can trace the tree that carry them to the satanist-luciferian globalists who have been leading the world through the European Union, the United Nations and their satellite world organisations as well as their agents in governments who belong to Freemasonry, Illuminati, Black Nobility, World Economic Forum, Bilderberg, Club of Rome, Club of 300, Trilateral Commission, Jesuit order (the current pope, Francis, is a Jesuit - Jesuits pledge Roman Catholicism world supremacy), Elite, industrialists, Council on Foreign Relations, and many other secret societies. These psychopath globalists thrive on chaos: financial, economic, social, moral, environmental, spiritual, physical, divisions among populations for out of chaos and disorder they can bring their solutions, solutions that advance their agenda, that is ushering the dystopian One World Government of their master, at the head of which the Roman Catholic Church (merely a Christian church) as one world religion, one world currency, one populace (multiculturalism), one economic market, one army, one current of thought, one gender or no gender at all (gender neutralism)…but it will fail miserably and at unbelievably great cost to humanity. The worse is at the door; billions will give up out of fear, torment, starvation, to keep their lifestyle but there won’t be any, possessions and positions. Oppression and persecution are also at the door; billions will be killed as per the New World Depopulation agenda of, you name it, the globalist elite. While this is happening, many will accept the Truth that will save them. Did not Jesus said as reported in the Bible: “Then you will know the truth and the truth will set you free.”? John 8:32

[@lakshmangunasekara9401]

Naturally an economist, even a mildly Left wing one, tends to see things in terms of economic dynamics and many anti-capitalist analysts are happy to simply blame the global capitalist system. But this is only one half of the story. The other half is domestic politics. When people struggle at the risk of their lives, they do so seeking solutions domestically: in their own setting, their own lives. This requires action in the political sphere and this is where the doings of the Rajapaksas, and the bourgeois political formations, clash with the endeavours of the mass of the people, especially the workers and rural masses. No amount of scholarly pontificating should divert from the real struggles of the people.

[@foryouthfuture9431]

Sri lanka bankruptcy due to corruption and mismanagement, 90% of parliament Minister owners of liquor bars and liquor shops, if we can collect taxes and rajapakses and his goons what they robbed from the government and deposited in offshore accounts thats more than enough to pay our total loans,

[@JD-lt7uv]

Preach!

[@turtletimeglass4693]

Our world has become locked into debt servitude. All the institutional forces act to enforce adherence to servicing the debt to maintain the institutional integrity of the accumulated wealth. The debt bubble is directly connected to the wealth bubble. To solve the debt crisis we would have take back the massive wealth accumulated by both ultra wealthy individuals and G7 countries. What I see is a complex game of musical chairs has been created. Money is created with a corresponding amount of debt beyond the amount created. So the debt in it's origin is eventually unserviceable. That gap is supposed to be filled by growth from real investment into businesses and communities. We have reached a quickening point we're real investments return is less than financial investment return. So more and more of the newly created money gets sucked into the markets leaving all of that new debt to be taken on by debter countries and individuals, with a diminishing amount of real investment into communities of working people to service this debt. This is happen both at an individual and internation level. We do need a jubilee, forgiveness of debt, but if we don't change the system that led to this then we will only be pushing the problem off to fuel an even larger next crisis .

[@luperamos7307]

When the time came all of these economists saying this promoted massive money printing. That immediately caused massive inflation in assets and therefore far greater inequality. While the media focuses on supply chain issues and highly volatile prices like oil, assets have been entirely ignored. Bc the rich have those assets (including houses) and they are massively up. I never even thought I would see these prices in my lifetime.

[@rickydee5863]

Slavery as an institution never really came to an end .they just merely perfected it by allowing the slaves the illusion to believe they are free

[@MichaelFlynn0]

Power to you Jayati Ghosh

[@_Pickle_Rick_]

Great interview.

[@myagent21]

How about addressing overpopulation growth? These problems have a direct correlation with global exponential population growth.

[@Rnankn]

There is a serious disconnect. The idea that nations are ‘rich’ or ‘developing’ are presumptions of future growth. Indebtedness is a claim on future growth. Yet, we know that carbon emissions cannot be decoupled from GDP growth. We have reached the limit of cheap abundant energy, and the emissions it produces. Growth is not possible. Developing nations need only remain around current levels, and redistribute internally. Europe, North America and China have to lower consumption and energy use substantially. They need to deindustrialize. This is physics and chemistry, it can’t be dismissed on political terms. A failure to change, imposes such costs on the south that debt is owed to them. But markets and prices are the problem, so sovereigns should default, as should individuals. The economic system is invented, so it is the only agency we have. It can be changed or replaced at any time. Capital exists by virtue of belief, which was only justifiable when material life was positive sum. It is now scarcity and distribution that matter as we manage a zero sum world. In that context, limits define choices. Natural systems, energy, and demographics are structural limits that must determine priorities.

[@guzzifabrication3448]

Putting widows orphans minorities the defenseless the poor in Dire Straits and capitalizing from that has been the plan all along.....

[@ShammuaMekonnen]

Absolutely Economist Ghosh, opportunistic Corporations profiteering. I think there needs to be a coordinated effort that all Countries with opposition against these collar & tie men and women, have a Global Demonstration.

[@akoypinoyi]

Blame this all to the U.S. and the E.U.

[@dekapwt5618]

Aku hanya tidak tahu mengapa aku masih saja,merasa lemah & letih Hanya memiliki Energy saat berbaring, aku fikir ini gejala (Depresi 😔😔😔)//sulit aku kendalikan

[@123xyzabccba]

Presently india is being ruled by the bammanical casteist party which has to its core the objective of retaining bammanical hegemony. These bammans are the Indian parallel of the white racists and thus are complete immune to the sufferings of the rests. It’s not just the political apparatus but even the administrative and judicial apparatus is dominated by these casteist hence if the crisis breaks out in india than it will be of the mother of all scale …

[@martinushardy2459]

Jayati explaination is spot on the truth, wishing G7 leaders understand the suffering population in Bangladesh, Indonesia, Malaysia, India, Pakistan, Argentina, Brazil , almost around the world were suffering to support IMFund and World Bank system plus covid 19 pandemic and US sanctioning Russian oil and GAS.

[@JD-lt7uv]

The problem is that you could give each country a billion dollars and where do you think it would end up? In the hands of the people or their corrupt overlords who mismanaged and embezzled their nation's money to begin with?

[@user-wp8yx]

This is a lesson to South Asia. As you adapt western economic models, so you adopt western economic models. It's a package deal and you might not like the whole package. Take what's useful and throw the rest away.

[@ese3go]

I would like a more in depth understanding of where this "debt" comes from. Clearly the IMF is a predator when it comes to repayment but how exactly was the debt incurred? There's a saying "Follow the money" but who exactly is in charge of the following?

[@thiagozequim]

just how much of this conversation has to do with Michael Hudson's work? Just everything. Please, put Jayati Ghosh and Michael Hudson talking to each other

[@poobum9857]

wasnt there some policy changes to swapping from modern agriculture methods to not using fertilizer etc that collapsed their ability to grow enough crop and cause food shortages ?

[@chrisphillips6106]

We, the human race, are the makers of this system. We aren't controlled by some higher power making this system for us. It is incredible that we just let it continue this way. We have a looming economic crash that is our own doing and can be stopped by our own hand. The fact that we even have news articles like this is just dumbfounding.

[@nottenvironmental6208]

Every time China is blamed and wasn't culpable, the real problem is encouraged to continue and increase. Just like blaming cloud seeding when burning fossil fuels is geoengineering the climate

[@nightoftheworld]

This sounds like “Confessions of an Economic Hitman” by John Perkins, tho less hyperbolic. The debt traps and extraction infrastructure pushed by world bank/IMF onto developing countries is crazy.

[@carlmorgan8452]

IMF is the problem ...... in the end / the rich get richer

[@geraldjensen9399]

Socialism, Fascism, Feudalism

[@alexj7440]

Huh

[@geraldjensen9399]

@@alexj7440 thanks for the palindrome, slide capitalism in the list before fascism

[@alexj7440]

@@geraldjensen9399 define each of those terms

[@beaprzybyszewska6179]

Feudalism =Slavery

[@Sidtube10]

Write-offs would be temporary fixes. Doesn't change the fundamental problems that brought us there!

[@dekapwt5618]

Mereka hanya tidak ingin aku berada dalam penderitaan & kesusahan dan mereka hanya ingin SOLIDARITY & Democracy di berikan untukku.. (RANDOM)

[@davidmead6337]

I'm not clear as to how the debt occurred. Who in those countries benefited in either the long or short term from the inflow of money? Could it possibly be the 1% of the richest men in those countries?

[@nowonami2524]

5:30 when in history did the rich G-20 care about the poor. "let them eat cake/mud"

[@JP-fn5xt]

I like how the comments mainly focused on Western countries for economic crisis. The Eastern economics being just mainly in dire need.

[@dariusmani7698]

I think it's mostly latin america and West countries that facing crisis

[@lisafagan9640]

You need to look to Bill Gates for the food issues (farmland robbery) in Sri Lanka AND India as well. Tell the whole truth.

[@JD-lt7uv]

Western corporations have a responsibility to pay people a LIVABLE WAGE within their country. The people have a responsibility of spending their money wisely and holding crooks accountable.

[@Richard_Grey_Thomson]

Hunger will be the best teacher, too bad people need to face such a catastrophy

[@rajupodiyan3147]

NO.

[@KJSvitko]

Population needs to be in balance with jobs, resources, nature and the environment. Having a bigger population in any country than the country can support makes no sense. Access to food, water, shelter, energy and jobs should guide population levels. The worlds population is still expected to add another billion people to feed, clothe and produce pollution. Humans are crowding out all other species of plants and animals. Education and birth control are key to reducing poverty and hunger. Having a child that you can not provide for yourself is cruel and irresponsible. We need solutions not just sympathy. Endless population growth is not sustainable on a finite planet. Every country needs to "TRY" to be more self sufficient. When there are not enough resources to sustain a population something has to give. Countries need to focus on quality of life for their citizens and not just quantity of life for cheap labor. Why import fossil fuels when wind and solar energy can be produced locally and solar energy can power electric vehicles. We need solutions not just sympathy.

[@njandrews4105]

Well this is scary and depressing

[@marlenesoifer7219]

Listening

[@elmerdeloso594]

What does any entity/individual that has money/power want? More money/power.

[@kesart8378]

Colonialism, the gift that keeps taking.

[@ellencooney5563]

The U.S. did not cause residual effects of an unjust culture. We can all do better. The CASTE system still permeates from what we see. Negative impact of magnanimous U.S. policies effect neglected masses here as well. Pray to a just God for equality, not dominance.

[@dantenapoles5951]

The truth, (sadly) very well stated. The solution, clear and achievable with limited effort/cooperation needed. Thanos is getting his way, by design.

[@danielhutchinson6604]

Worship of the Capitalist Social System seems to be the problem, and the Wealthy seem to be the only ones who benefit from the changes that the system provides. The ability of Humanity to live without Capital, seems a very simply solution to the problems?

[@dekapwt5618]

Economics Professor= About Me..😔.. Protest Tidak datang dari satu negara saja untukku.. puluhan negara bersuara untukku..

[@paulhester489]

Wonder what the world record of 100 mil refugees think of economists predicting financial collapse.

[@htchia1060]

The greater part of these debts are caused by the US, Britain and Europe, the World Bank and International Monetary Fund (IMF). China has only 10% of developing countries' and underdeveloped countries' debts. China in fact does right off some debts and also offer to lease the infrastructure such as ports for a certain period and share the profits as part of the repayment scheme. But the USA, Britain and Europe only wish to buy up the debtors' property at dirt cheap prices dictated by the Western creditors.

[@petergreenwood7731]

It can't be good when other countries. IMF and banks buy and sell your debt. Is it true that when IMF lends a country money that money must be used to pay down their existing debt? Money in - money out to western banks. Sri Lanka's debt to China (10%) went to infrastructure, ports. Things that will be valuable for their economy to recover.

[@thomasslegers8569]

Perhaps, but China now owns those ports in Sri Lanka.

[@juddbiggs]

There is no reason to run economies on debt. The idea that raising interest tstrs lowers inflation is insane. It fuels even more inflation. Runaway inflation is when money must be printed to pay the interest on the deficit. Raising interest rates creates even more debt. Inflation is a tax. Inflation is a word made up to confuse the public. Higher prices result from money printing. Higher prices can also result from supply and demand. Money injection from thin air is like counterfeiting. It increases deficit on the public to the central bank which made the money out of thin air. The government gets full pop for this money creation because the higher prices it causes don't kick in right away. The central banks print money for themselves to lend to the government so the government can pay the interest on money they previously lent to the government. This is how the government and the central banks debt slave the public. Raising of interest rates is increased usery,..It is stealing. It is more taxation as profit for the banks and the government... All causing higher prices which is a milking of the public. This debt creation corruption causes economic collapses and wars of false flags to cast the blame away from the banking/ government corruption. I forget which US president said... If the banking system was understood by the public, there would be immediate revolution. This is why the banking system is not taught about in grade school. The public needs to wake up

[@edreeves121]

Default is the path. Suffering is on the same path. The world is overcrowded and energy costs are shoving many over the cliff.

[@DuderofDudeness]

"perfect storm", yes, a little too perfect, another term for economics is social control

[@johncusson5703]

The instructions God gave to Israel in the old testament shows His wisdom. The Jubilee was the mean by which debt were forgiven.

[@okolona1]

Responsible for the debt? Bondholders expect to be repaid

[@RR-tt2cx]

10% of the debt from Chinese borrowing. The CIA chief says it is all about Chinese borrowing at a time this nation is in crisis. We need to support them. They may have had a corrupt government. Let the Lankans deal with their domestic policy.

[@richinmt1]

my understanding of what this "professor" is saying, is lets allow poor countries to borrow money, with the understanding that they will never have to pay it back. Debt doesn't go away, it just gets transferred to tax payers of the richer countries.

[@thomasslegers8569]

My understanding as well.

[@indonesiamenggugat8795]

❤❤

[@rogerhull5632]

Debt Jubilee. If not de jure, de facto.

[@skinscapetattoo]

The idiocy of Western leaders and global organisations in these times is without limit.

[@TS-py2fe]

Question, if debt forgiven by private lenders are pension funds would this implode pensions causing the pensions that those in retirement need to survive to go bankrupt? Seems like this could create a huge mess for the world's baby boomers.

[@Bodhi1satva]

Still? “The War and Peace Report”? This has to be the longest story ever told! Democracy Now has been calling this “The War and Peace Report” for as long as I can remember.

[@steventatlock5443]

They only recently started calling it that again. I forget the exact phrase, but it was "Pandemic Report" or something similar through most of 2020-21

[@Bodhi1satva]

@@steventatlock5443 oh I must have missed those!

[@tuckerbugeater]

@@Bodhi1satva Fauci co-funded the creation of the Covid bioweapon with the CCP. So we are in a war.

[@llh3025]

@@steventatlock5443 She called it "The Quarantine Report". It signaled a significant decline in the quality of the show.