bmtv99 GDP and Public Debt
I don’t claim to be an economist. I don’t claim to be able to tell you with 100% certainty and a completely fool-proof explanation of what is wrong with the global economic system.? But, I will claim to be able to see signs when they are in front of me.? To question what is given by those in power as an explanation to a crisis they helped cause.
This video entry was inspired partly by that edition of This American Life that Ive so often referred to in the last month. Its also inspired by economist and professor David Beim who has pointed to the fact that in the US the amount of GDP is now equal to the amount of public debt. Last time that happenned, 1929. Moreover he calls into question something the mainstream media isn’t willing to do, our way of life.? This way of life that call for more borrowing, spending money you don’t have, and gambling with other people’s money.? Tough questions that would force people to look at both themselves and the larger system that we’ve been taught is the only way to live by.
So here’s the video, just a citizen reporter on the internets, looking at data and being critical.