;

Why the Poor Pay for High Debt, Even If They Don't Borrow

ProfSteveKeen ( Original )
SEP 21, 2017

This was an invited talk to public servants organized by the Exploring Economics group ( https://www.exploring-economics.org/en/). In just over 13 minutes I provide a complex systems argument that the poor pay for debt, even if they didn't personally borrow it, because workers are the residual income recipients in capitalism.

GoldSilver Latest News

For the 17th Straight Quarter, US Household Debt Increases; Delinquencies at 7-Year...

First Auto, Then Credit, Now Student Debt Delinquencies Tick Up

Venezuela (With an Assist From China) Introduces Card to Track, Reward, and Punish C...

Pensions: When the Law Says Something Must Be, That Can't Be

Dollar Sells Off on Fed Vice Chair Richard Clarida's Dovish Comments

Telltale Commodity Weakness Symptomatic of Coming US and World Economic Decline

Crime Doesn't Pay (These 1,000 People Anymore): Wells Fargo to Lay Off 1,000 Workers

Larry Summers: US Recession by 2020 a 50/50 Chance

Morgan Stanley: The US Dollar's Bull Run Is Over and It's Time to Sell

Deutsche Bank CEO Calls for "European Wall St." to Compete With US Banks

Deutsche Bank, BofA, JPM Now Ensnared in Danske Bank Money Laundering Probe

Gold Traders' Report - November 15, 2018

Something's Gotta Give: Silver Price vs. Silver Cost of Production

Warren: Fed Is Making the Exact Same Mistakes Now That Led to the 2008 Crisis

Central Banks and Governments Will Keep Issuing Debt Until the System Collapses