Tag: US debt
‘Yes, this bubble will burst!’ – Richard Wolff on US economy (full show)
Unemployment stands at a staggering nine percent in the US. But when it comes to cars, homes and online consumption, Americans are spending like there’s no tomorrow. Banks are awash with money and stocks are through the roof. So are we in a recession or a boom? Renowned economist Prof. Richard Wolff joins Rick Sanchez to weigh in on the enigmatic US economy. …
Fast cash online causing US debt explosion — borrower beware!
Washington’s public national debt now exceeds $26.6 trillion. It has grown to such heights that every US citizen is born owing $80,000. Meanwhile, our collective mortgage debt stands at $13 trillion, corporate debt is $10 trillion, student debt is more than $1 trillion and consumer debt exceeds $4.2 trillion. …