Corporate debt crisis & presidential wars with Jimmy Dore
Jimmy Dore fills in for---The World According to Jesse Ventura
Jimmy and Brigida cover a failing system of capitalism and presidential power. Very interesting 30 minutes.
While I'm here. If you want a new type of news to watch with more accurate coverage and have access to RT, I suggest Rick Sanchez's nightly news.
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Feel free to reply to any comment by clicking the "Reply" button.I read a while ago that corporate debt is going to make the 2008 crisis look like a day at the park. The 2008 crisis cost Americans almost $13t. Since then, non-financial corporate debt has supposedly grown by about $29t. To put that in perspective, world debt is about $63t [weforum.org]. The U.S. holds 31.8% of that global debt. #1 BY FAR! Japan is 2nd with 18.8%. China is 3rd with 7.9%.
A few articles are conflicting or maybe I'm just not undestanding. One says non-financial corporate debt is $9t, and one says $14.5t, and another one says it's grown by $29t since 2008.
I'm no financial expert and I don't know what can be done to lessen the costs and impact of a corporate debt crisis, but on the surface, think about what happens when corporations have that crisis. They go out of business, tons of jobs are lost, their stocks plummet, pensions will be gone, millions extra with no health care, less taxes for public programs, etc.
Piece2YourPuzzle
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