The Economic Black Hole
Thursday, July 19, 2012 at 5:00AM
[Positive Dennis] in Economics

This interview is a little more difficult than most of the interviews I share here. We may be headed into a "debt trap" in the economy like the one that has plagued Japan for the last 20 years. A debt trap is "the situation in which the national debt continues to grow faster than national income so that more and more of the government’s budget has to be devoted to interest payments." Steve Keen's proposal of a debt jubilee is one of the more interesting solutions being advocated. 

Article originally appeared on Prophecy Podcast (http://www.prophecypodcast.com/).
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