Episode 12 of my – Podcast – Letter from The Cape – is now available.
In this episode, we discuss the ‘debt bomb’ narrative, which is used by neoliberals to impose political costs on governments that dare use their spending capacity to improve the conditions of the poor through welfare spending. We learn that governments do not need to issue debt at all and could avoid these political tricks by abandoning the process. We go back in history to a time when the financial markets gave the game away and demonstrated that the debt issuance by government was really just an elaborate form of corporate welfare and has nothing to do with ‘funding’ government spending.
Duration: 7:!2
