Prof. Wolff joins Thom Hartmann to discuss how the business sector has borrowed so much money at low rates of interest, among them crooks and speculators who borrowed for dubious investments.
Now, businesses are being found-out and there are going to be tens of thousands of business bankruptcies – and say by-bye to your job.
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European Federal banks which are stronger than privately owned banks are offering up to 4% interest on CD’s despite unemployment levels. This and the provision of a strong currency, medical, protection of property, middle class social stability and overall cultural luxuries are appealing to me.