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

All the debt in the world is three-and-a-half times the size of the global economy: 349% of GDP, or $37,500 per person. It is unpayable. But poor countries are forced to pay high interest rates to rich bondholders on Wall Street, while Western vulture funds profit. Journalist Ben Norton analyzes the deeply unequal international financial system.

|| Geopolitical Economy Report ||

[truuee]

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.

[noirsociety]

"Debt is the slavery of the free." 

-- Publilius Syrus

[truuee]

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.

[ultravioletiris]

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

[KINGKON]

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

[penhdog]

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

[toggletyler]

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

[teardrop]

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

[notchit]

this channel is like going to school classroom with good intentions

[stevefrancis]

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

[MuscatZulu]

Beautiful explained in simple terms. Thank you Ben.

[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.

[Anemoia]

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

[izharfatima]

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

[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'...

[afunguynamedkawhi]

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.

[kristianflaate]

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

[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!

[Lyra]

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.

[SarahBourne-wb]

The world financial institution needs an overhaul..