Global debt is unpayable: How Wall Street traps poor countries, profiting rich ones

[@truuee9016]

Instead of the UN saying "inequality is embedded in the international financial architecture," they should say "inequality is by design, orchestrated by the wealthy nations to exploit the poor nations." Keep it plain and truthful.

[@HumphreyRamrekha]

In the so called rich nations there are millions of poor people ! And what about the rich classes in poor countries

[@truuee9016]

@@HumphreyRamrekha some of the same rich ppl who won't pay a living wage without brutal strikes by workers in rich nations are the ones who engineer/run the system that exploits poor nations. So Of course there are poor pl in rich nations, inequality is mostly by design here too.

[@elizalee1214]

If you do some research on who own the Wall Street, it's quite interesting.

[@geraldineperry]

Yep, it's all about wealth distribution, which the proven mathematical relationship between "parity of agriculture" and national wealth can address. This is a US-based proven.mathematical relationship which the "money power" has successfully suppressed for decades, creating enormous and exploding windfalls of fictitious wealth for Wall Street. A concept known as "equitable trade" (along with Sovereign Money) will go a long way toward pulling the globe into a system of real wealth production instead of the kind of casino gambling responsible for creating fictitious wealth that is now running amok.@@HumphreyRamrekha

[@davidpeppers551]

​@@elizalee1214Gee, is it the top of the 1%?

[@noirsociety]

"Debt is the slavery of the free." -- Publilius Syrus

[@ikanmasin]

Not debt but money in general. You get debt because you owe money.

[@milmex317th]

​@@ikanmasin can't take it with you.

[@adelchidipalma9857]

There is no lawful debt if its issued with interest charges.

[@UBSINGH-pd7fp]

Interst on money is one of the most cruel thing invented by human civilization. In principal a group of peasants hoard a good amount of grains and they experienced the power of having more when others are not even having enough. So the very invention of "interest" is having it's root cause of having MORE than enough.

[@carlostello5734]

Know... USA became slave of their Inflation.... with so much debt ...for themselves are going down no matter what...is their destiny.... sorry for them... Imperio for short time...... history shows the wave .... sound, light.... amplitude.... length....

[@richardleenders8243]

Ben Norton is the best reporter

[@morayoung3183]

And brave. God protect, provide and prosper Norton. 💜🤍💚❤️💔❤️‍🩹🤎🖤🩵🧡💝💟💘❤️‍🩹❤️‍🔥💔

[@notchit3542]

this channel is like going to school classroom with good intentions

[@6milligram]

Exactly, just pure information & knowledge without any brand deal promotions or bs. He's like Second Thought but without all the fancy editing and his videos actually give you the full story and information.

[@afunguynamedkawhi7959]

It's a shame there are six billion people live in the Global South, only 28k watched this extremely important and educational segment. I am well educated and I pay a lot of attention to economic growth of the world but I didn't understand the debt issue before. Ben enlightened me what neo colonialism really is, it's almost as bad as the occupier colonialism.

[@kiwitrainguy]

The end of colonialism was only a political liberation, not a financial one.

[@ME2too2022]

We need ACCOUNTABILITY Of fraudulent debt collectors too!

[@grandwonder5858]

Javier Milei: “You mean, the US uses this atrocious scheme to extract wealth from the poor people in my country into the hands of the rich oligarchs in the US? Hip hip hooray! The scheme the CIA puts me in charge to do goes exactly according to plan!”

[@carlostello5734]

​@@kiwitrainguyit happened.. with England... they didn't loss US....even now they have a lot of interés I mean their Oligarchy....as well Europe.....

[@izharfatima5295]

The way World bank and IMF butchered Sri Lanka is very sad after their protests against the corruption.

[@ultravioletiris6241]

This channel upped its quality by 1000% since the rebrand/revamp. Thank you for your dedication to making these issues better-known!! 💪🏿

[@stevefrancis4949]

We should call it what it is usery and be made illegal as it was in the past.

[@penhdog2207]

Respect and support to you Ben Norton! You are brilliant. Stay strong and cool, brother.

[@chelseayorkshire5741]

Ben Norton is NOT an economist. He's using sources that appear authentic, but if the GREAT Economist DR. Michael Hudson had been privy to that info, we strongly sense Hudson would have looked at it a little differently than Ben Norton. Hudson always has the expertise to looks at issues multi-dimensionally. Ben certainly isn't there, yet.

[@nagarajuk5560]

❤

[@mistersir8342]

Yeah, yeah, yeah, you buddy are so smart in your B S.​@@chelseayorkshire5741

[@frankcrozier1318]

And safe we need you.

[@sunnysaz30]

Evil in plain sight😢

[@aneurindavies5943]

The Evil is being Normalised, and Compounded, and the Debt is being Weaponised, or used as a Tool to Threaten poorer Countries!

[@truuee9016]

Thanks for covering this. These debts are responsible for a lot of the suffering in the world. It's also directly related to the immigration crises all over the world. When these poor countries have economies that don't work, people have no choice but to leave, and where will they go? To the same countries extracting their countries wealth through debt. It's important that the citizens in developed nations know this. If you want to curb unsustainable illegal immigration, you must do something about the exploitation of these poor countries using debt and other forms of economic manipulation and sabotage.

[@LyricsQuest]

The ongoing brain drain was engineered exactly as intended.

[@grandwonder5858]

Javier Milei: “You mean, the US uses this atrocious scheme to extract wealth from the poor people in my country into the hands of the rich oligarchs in the US? Hip hip hooray! The scheme the CIA puts me in charge to do goes exactly according to plan!”

[@Gibbon-u3j]

The problem is the masses of the exploitative nations do not pay attention to the causes and just look for easy answers which politicians like trump provide. People are their own downfall.

[@Aarrenrhonda3]

The continuous creation of credit and debt is essential to the survival of the American economy. It is anticipated that the Federal Reserve will expand the money supply, which will result in additional debt accumulation for the typical American. In the meantime, even though their own economies are struggling, perhaps even more so than the U.S., other countries still want the U.S. dollar. The question of who will ultimately be affected by these economic processes is brought up by this circumstance.

[@larrypaul-cw9nk]

Many people who own precious metals are preparing for such an event, so they are unlikely to be forced sellers. They do say that gold will crash during a liquidity crunch, and the paper market would collapse.

[@jerrycampbell-ut9yf]

I completely agree, which is why I have made more than 1.5 million dollars working with an investment coach for more than two years. Their specialised knowledge and education, along with the fact that every single one of their skills is focused on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavourable developments, make it nearly impossible for them to underperform.

[@sabastinenoah]

Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.

[@jerrycampbell-ut9yf]

Finding financial advisors like Annette Christine Conte who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@sabastinenoah]

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

[@KINGKON911]

Only the devil could have come up with such a oppressive , self destructive economic system against humanity.

[@jessicayoung1190]

You mean people with small hats .

[@MoulikaMorou]

It is called the Anti christ world economy a.k.a Al- Massih-DADJAL, wanting to rule the world from Jerusalem. To rule the world he has to do a number of things and debt is ONE of his most crucial weapon for globalization. When you are enslaved and captured you’ve lost your freedom to oppose him.

[@MoulikaMorou]

@@jessicayoung1190…yes and they want to rule the world from Jerusalem a.k.a the Anti-Christ state of Israel. The prophet Muhammad (puh) calls him Al messih Dajjal, the Dajjal the false Massiah.

[@grb1969]

It’s just math but psychopathy has had its share of influence on the trajectory of our self-enslavement society.

[@montisiddique8010]

Islam suggests the balanced financial system where private property is protected, there is free market, no fiat money but gold or at least backed up by gold, usury prohibited, money is not commodity, everyone having more than minimum is obliged to pay 2,5% to the needy. Voluntary alms are encouraged.

[@Megaghost_]

Your clearly stated explanations are greatly appreciated, I'm from Argentina and this is a common topic for everyday talks but even then it's not well understood by most people, the media and politicians make a deliberate effort to keep us ignorant of what's really happening with the economy to obfuscate the source of our problems using gross oversimplifications.

[@jacquelineperet6599]

💯✅️💯✅️

[@grandwonder5858]

Javier Milei: “You mean, the US uses this atrocious scheme to extract wealth from the poor people in my country into the hands of the rich oligarchs in the US? Hip hip hooray! The scheme the CIA puts me in charge to do goes exactly according to plan!”

[@carlostello5734]

You make the difference... hope for Argentina....

[@richardleenders8243]

Thank you Mr Ben Norton.. you have educated me again

[@MuscatZulu]

Beautiful explained in simple terms. Thank you Ben.

[@oscarchicas8329]

Love your work mate. Keep opening the eyes of the world.

[@Anemoia100]

I honestly can’t recommend your channel enough! Thank you for all you do🙏🏾👌🏾

[@buravan1512]

#insightful

[@toggletyler14]

Debt and slavery have long been considered similar conditions throughout human history, often even sharing the same words/terminology.

[@fritzschenk88]

O

[@grb1969]

A debt-slavery economy has been the goal of Western Civilization since its inception.

[@ME2too2022]

Peter Santenello recently interviewed a coal mining town in W Virginia. The company used to make its employees to purchase tools, etc and reflected the song "16 tons, what do you get; another day older and deeper in debt" 🎵🎶🎵🎶

[@Seven.Heavenly.Sins.666]

The US population accounts for only 4% of total world population, but the US has incurred 40% of all debts that all countries combined.

[@lifeisthebestteacher]

Listening to this compelling video feels like sitting in a lecture by a dedicated and highly knowledgeable economics lecturer. Your passion is unmistakable. You are my online mentor on my journey to becoming an independent investigative journalist. Thank for you great work. You are making a difference across the world.

[@denisross2923]

Wonderfully didactic. Once the truth is seen it cannot be unseen

[@Lyra0966]

What the global south needs to do is establish its own international bank, totally separate from western interests, which will lend developing nations infrastructure loans on far better terms than the IMF, World Bank or vulture funds and other predatory western financial institutions. Total disengagement from the west should be the longer term objective: the global south has the natural resources necessary to function and indeed thrive free of the pernicious western interference and control.

[@ibrahimcehajic]

That may or may not work,money in itself is useless, money doesn't make you a genius,money doesn't create anything of value,human ingenuity and labor does,if i gave you a billion dollars would you be able to recreate the same level of inventive success that Elon musk did or wright brothers or many others,money can help but its not the decisive factor in success.

[@cristinasalazar9293]

Yes, the New Development Bank (BRICS+ Bank) ✨💖🛠💖✨

[@thebigreunion5498]

They lack brains . I’m from Africa

[@awjames1121]

Imagine if all nations dont accept unguarantee usa dollars into our banks anymore now,,?. Then usa cannot play with our currency anymore,,,?... Like japan yen,,??.. Japan is a very powerful and prosperous and hardworking nations,,?. Then keep on working hard and invents new products for the world 🌎, japan invents many new very very good , consumers products for the world 🌎 to use,, and their prices are very good and fair price for the world,,. Yet usa can invents tricks and traps to made japan yen loses 50 percent of its yen against the usa dollars, until japan PM, ask usa for permission to protect japan yen against usa dollars,, ? Actually japan just totally ditch very very cheap 0.002cents a piece to mass print each 100dollars usa face value dollars 💸 notes,,..and switch to join brics currency systems and don't accept usa dollars anymore now,,???. Then usa unable to play tricks and traps on japan yen anymore now,,,???... As if japan decide not to accept usa unguarantee dollars into japan anymore now,,?...and switch to join brics currency systems,, so japan will be free from usa dollars attacks anymore,,,sonorous way usa dollars bullying japan yen anymore,,?.. So we strongly recommend that japan invents new japan dollars and pegs 1new japan dollars for 1 usa dollars,,,?..,, and the old yen exchange for new japan dollars for the highest180 yen for 1 new japan dollars,,,???.. 59:49 59:49 59:49 59:49 59:49 59:49 59:49 59:49 59:49 59:49 59:49

[@awjames1121]

We ask Japan to reinvents japan new dollars and pegs 1new japan dollars for 1 usa dollars,,???

[@teardrop720]

All developing countries should de-dollarize asap and minimize borrowing in foreign currencies

[@somsackvongsa7077]

Too late.trapped.

[@SLF-o2w]

Check out Barbados which has a dynamic woman prime minister who is leading a digital currency project supported by China.

[@SLF-o2w]

El Salvador is experimenting with bitcoin. Max Keiser and Stacey Herbert now live there to help consult on this. Remember their Russia Today program called The Keiser Report?

[@mizzmini45]

It’s not trapped. This is what’s driving dedollarization now

[@mariamorgan3009]

They've trapped many students in the U.S. with their scam. 😢

[@justice.freedom.mankind]

Thank you very much Ben for your independent & truthful journalism! As George Orwell said, 'in times of universal deceit, telling the truth is a revolutionary act'...

[@grb1969]

One’s truth is a representation of that individual’s reality. When the population suffers from mass formation psychosis, their collective truth is that which deceives them into believing in the righteousness of their existence; Unfortunately, this self-denial renders a culture that becomes self-destructive due to its utopian desires towards a ‘unity’ of systemic control in what has become an anti-Social State. Unipolar hegemony is simply a representation of this belief system. Our Death Cult of Western Civilization is endemic with narcissism and sociopathy as a result.

[@joseluisramirez5916]

Congratulations Ben, excellent informativo!!!

[@ulfseidl1216]

I find it typical American that they talk about debt of other countries, when America is by far the one country what has the highest debt in the world....

[@ErrolOakley]

Very good work Ben.

[@kristianflaate]

P.S. Thank you for boiling this article down from about 40 pages to an excellent report ❤

[@angkorgrill4515]

Wow How you look very young to understand globalization economics!!!!! You are clearing and breaking down for all of us to understand in your 1 show Thanks you very much

[@MundaSquire]

Clear and important explanation. We must all raise our consciousness on how the systems (and financial capitalism more specifically these days) work to extract wealth for a small elite. Keep on!

[@grandwonder5858]

Javier Milei: “You mean, the US uses this atrocious scheme to extract wealth from the poor people in my country into the hands of the rich oligarchs in the US? Hip hip hooray! The scheme the CIA puts me in charge to do goes exactly according to plan!”

[@dingodog5677]

The irony of sustainability policies and ideals like “don’t make the future generation pay for our mistakes” leading to a world of debt which they will never pay off, isn’t lost on me. The last ten years plus has been suicidal.

[@恁北就是魯耶]

Good evening Ben!

[@AMcMill]

Debt is pure evil. Even the Bible says after seven years all debts must be forgiven

[@Pulapaws]

Wow you don’t read the Bible it every 50 years all debts, land, slave which the Bible didn’t have cattle slavery but debt slaves and those that build after a war and it was to be let go every 50 year the holy day was called a jubilee and that a real jubilee not the fake stuff they do now. You may be confusing the 7 year sabbath with jubilee.

[@christopherkelley8962]

confessions of an economic hitman by John Perkins is an interesting read on this subject

[@maxwellduhaney9194]

I love you Mr. You have spoken the truth about the Criminals.

[@shaunhendrickson1628]

That is the best explanation of the financial system

[@BestFitSquareChannel]

Thank you Ben. Best wishes.

[@kristianflaate]

Who to blame ... Milton Friedmann, Margaret Thatcher and The Chicago School of Economics ... (!!!)

[@samstone4320]

Ziocons

[@7swordmary567]

Paul The Vulture, Volker

[@kristianflaate]

@@7swordmary567 I'm afraid the damage was already done with perpetual growth thesis put forward by Milton et. al. .... (!) How can one argue for perpetual growth on ONE finite planet?

[@JohnT.4321]

Funny that no one blames the capitalist system and the very few wealthy elites that controls both US political parties and and the wealthy elites that control those of Canada and Europe.

[@samstone4320]

@@kristianflaate perpetual growth just as feasible as perpetual motion

[@sohailien]

Developing economies will never develop and truly become wealthy with crippling foreign debt on their books

[@notsosuavemate]

It’s all about ownership

[@SarahBourne-w2b]

The world financial institution needs an overhaul..

[@Lif96]

Thanks

[@trevorchang2973]

Usury is a term that has been useful throughout history and, in many cases, associated with a certain group of people. Nothing has changed.

[@trevorchang2973]

Typo. Used, not useful

[@peternyc]

The only scarcity in capitalism is money-capital. All other real scarce commodities are priced accordingly. In order for price to benefit the owners of capital at the non owners' expense, money must be scarce. This is one big reason why China is such a threat to the West - China's money is sovereign money - owned by the state. It isn't privately owned, as it is in the West. Capitalism doesn't create nearly as much inequality when the state owns the money supply and central bank.

[@VB-ds4bp]

So USA lost thier power in 1913?

[@peternyc]

@@VB-ds4bp It's not about power. Capitalism is just the latest form of an economy for the private property owners. Central banking was a development in the process of capital consolidating itself, enriching itself, becoming more 'powerful' if you like. Once money and land are completely owned by private entities, any economy becomes a plantation. 1913 was the formal crowning in that process. It was inevitable. The lesson to be learned is that the vast majority of people in the world are not property owners and are therefore slaves to those who do own property. This must stop. It transcends nations and ethnicity. Social class has two categories - those who own and those who don't own. The non owners must come together and take control of the planet. We must create a mutiny. No more serving the owners. All people must be owners.

[@adamiskandar5107]

@@VB-ds4bp Yes, the rot started in 1913, for the common people but a huge gain for the Capitalists. The bible warned about usury but the Christian Capitalists ignored the warning.

[@malachih3]

@@peternycyou say only the government owning all things is superior then you see we must all become owners. Government needs people to function and you see no paradox, you don’t see that your advocating for far less owners than there already are unless there’s more to your plan you haven’t mentioned

[@platosbeard4449]

@@malachih3 of course it’s difficult for you to understand, being that you have been brought up in a brainwashing capitalist regime; that the state (“government”) is a tool of the dominant class in society. Government is either constituted by the oligarchy (be they kings, lords, or capitalists) or it is constituted by the workers/masses. It does not have an existence all by itself. Some states constituted by capitalist-oligarchs May give concessions (bribes) to the working class to prevent their overthrow (like the social “democracies” of Europe in the early 20th century that took hold following the Great October Revolution), but they nevertheless remain established for the ultimate benefit of the ruling class; the capitalist-Oligarchy. The state organized by workers and ruling in their interest, can and should hold property in the interest of the dominant class; the worker collectives. So therefore the state holding property in the interest of the collective is the superior, just, and proper way for society to function.

[@stevefrancis4949]

Don't forget the alot of these same corporations pay next to no tax in the global South through many different reasons but alot through there debt.

[@remuscalpe2885]

in short corporate greed is the root cause 2nd is the government itself taking the front in behalf of the corporation....

[@marciamartins1992]

It's unsustainable even to the US not even counting in the rest of the world.

[@catgolf-k4q]

Perfect analysis , admiration for your explanation

[@aquagaming3480]

agree with you

[@Juan-ud3if]

Great Information. Salute All Truth Teller's and Activists. 🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋🙋

[@Teklemwo]

Thank my dear , your seamless imparting your knowledge of financial skill is well apreciated . Bye dear .

[@gallectee6032]

12:22 - 17:32 Is a good explanation of modern imperialism that everyone should watch.

[@ayoak4474]

You are excellent

[@jakesi8170]

Unbiased facts thank you Ben. Refreshing.

[@sarachiba6012]

Thank You Very Much, Ben 🏵🍂🦋

[@ME2too2022]

Excellent reporting! 🎉❤🏆

[@tedtoews9889]

Does this debit include things like a bill for destroyed infrastructure in Syria and Invoices for stolen oil??

[@Zotosen]

Great work!

[@raymundogonzalez6450]

Great program

[@paularnold1930]

Scary BUT true. Help! Thank you Ben. A reality check.

[@barryg1965]

Very well done!Great Report!Smart,Factual and concise enough to be understood in this timelot.Thank you.

[@dubaldwight1253]

Ben, you are a king 🤴.

[@ayubshaikh9156]

Ben ,…… phenomenal involvement ,study , research in so many subjects , and to such depth ! Bravo ! 👍🏾

[@colemcclain7319]

Jubilee! Wouldn't that be something !

[@almcl9391]

Great Report Ben. Really good material 👏

[@blackfreud9048]

Prosperity over profit

[@grandwonder5858]

The other way around! The oligarchs want profits over prosperity!

[@abies2000]

As an "MMTer" I commend your argument. The systemic violence of imperialism is a problem that will not be solved by knowledge and understanding alone. Unfortunately, it has to be addressed by force. But how do we stop that necessary violence and authoritarianism from becoming a new horror? Asking this question explains some things: The reason for massive demonizing of Marxist and class analysis becomes apparent.

[@juanmagana7468]

Thank you so much BEN, you are always hitting it in the spot, greetings from Mexico, hope to see you and your viewers in our country, after all WE ARE ALL AMIGOS.🙏🙏🙏🙏

[@adamjohnson286]

Excellent explain like I'm 5 breakdown of a super important topic again from Ben!

[@afzaalkhan.m]

A Cia Regime change was done in Pakistan, and economy went from + 6.1 to -1.1, Abject poverty followed, corrupt people installed, and goons in uniform keep control by assisinations.

[@sergiosalomon9307]

I RECOMEND THE REAL ANALYZES OF BEN NORTON= CAUSE HE HAS THE REAL ECONOMICAL SITUATION WHITOUT IDEOLOGIES.

[@dragonwukong9]

thank you ben for teaching the financial system in simple words and it makes me furious.

[@GETJUSTICE4U]

"Capitalism* is the legitimate racket of the ruling classes."...... Al Capone". He would know he served them and they protected him for a very long time. *neoliberalism.

[@darkspel]

You're doing a good job Ben 👍

[@afunguynamedkawhi7959]

Thank you Ben. I learned a lot from this segment.

[@liisaeskelinen1909]

Good work, thank you!

[@anyonsbosons4049]

Thanks!

[@waiyee1995]

Global south should default on all western debt and dedollarize

[@josephyoung6749]

thank you for explaining...

[@gerritrigot3235]

Something the polish people needs to know. Although it seems to be too late already. Huge loans by US.

[@qjtvaddict]

They messed up

[@ME2too2022]

We need ACCOUNTABILITY Of fraudulent debt collectors too!

[@jhonkhan8153]

Well done Benjamin 👏

[@chooiharchan3216]

Excellent piece of teaching.

[@kristianflaate]

IMF and the World bank .... (!!) I'm getting to old for this sh*t 😠😩

[@Darealmclovin47]

wow finally a news source that teaches you what is really going on and not just spitting out 5 minute headlines. as someone who only has a high school education i want you to know how impactful your reach is that i actually feel like i have atleast equal understanding of economics as those who went to college

[@michaelmullenfiddler]

This channel has become a go to channel for me

[@tommyburton9986]

Good Work Ben. Your series is an excellent primer and a fine companion to Michael' Hudson's volumes on the history of debt

[@DirtDays-th]

Thank you.

[@tlynnkyle2983]

Is this Black Stone and Black Rock, IMF and World Bank? You know the credit default swaps bankrupted countries like Greece and others. Thank you, Ben.

[@kristianflaate]

Thank you for your amazing work Ben Norton

[@Wintry_Jasmine]

Thanks Ben for your good reporting. Can you make a walkie-talkie for your next video in Beijing?

[@GETJUSTICE4U]

What could these neoliberal racketiers do if everyone of their victims defaulted on their loans and refused to sign over their assets?

[@grandwonder5858]

Then the US government would send its 800 military bases and 1.3 million troops into action!

[@timothyrockwell2638]

The TLDW is basically this; Neoliberal finance capitalism is inherently exploitative.

[@DavidDieni]

You don't have to understand anything about economics any longer. Just go to the world debt clock that is spinning like a top. The last time I went on, global debt increased by a million dollars every eight seconds. For every dollar Africa receives in debt relief from consumer funded NGO's, they owe $25 to the IMF/World Bank

[@Zara-um1nx]

This is very true thank you so much ❤❤

[@trevorwills1600]

I love this channel. I've been trying to read about finance and banking for over a year and I swear it just makes me more confused if anything, but this was finance imperialism 101 explained so well! Thank you!!

[@jakerivets2249]

Great work

[@williamdavis7432]

Really interesting - thank you!

[@chrismichael5222]

Someone can easily feel the injustice in our society and see it,but to understand it...its really when someone becomes wholesome and able to organise and help change

[@ihcuwign1707]

And it's bought to you by the so called peace keepers of the world

[@adriano969]

Great lesson here! tks! In Brasil, we spend obscene amounts of resources servicing govt. debt, and there's enormous pressure from the national hegemonic media (which is owned by financial market actors, local and foreign) for the govt to control its spending, to maintain fiscal responsibility for everything except servicing debt, paying +10% interest rates for govt bonds. It's the modern day colonialism.

[@aneurindavies5943]

"The Sickness is in the System" Professor Richard D Wolff on Democracy at Work.