We Can't Save the Economy Unless We Fix Our Debt Addiction
Date Written: 21/04/2016
Year Published: 2016
Resource Type: Article
Cx Number: CX19275
Our economy has increasingly been financialized, and the result is a sluggish economy and stagnant wages. We need to decide whether to stop the cycle and save the economy at large, or to stay in thrall to our banks and bondholders by leaving the debt hangover from 2008 intact. Without a debt writedown the economy will continue to languish in debt deflation, and continue to polarize between creditors and debtors.