Debt and The Fiscal Black Hole

"Whenever you hear in the media the term 'Fiscal Black Hole' I want you to hear 'Fiscal enormous pile of money', because it is not possible for debt to grow without private wealth growing. And whenever anybody tells you: 'How do we pay the debt back?' I want you to turn around and say to them: Where has the money gone? Who has the money now? Why don't we tax them?"

"How The Rich Get Richer From Covid 19" can be found here: https://youtu.be/EiblHqbpXHs

I want to quickly cover the idea of the debt being owed to foreigners - whilst some UK debt is owed to foreigners, there is also much ownership of foreign debt by people in the UK. Data shows that the amount of money flowing out of the UK actually REDUCED during covid, so we know that the vast majority of money giving out during covid stayed in the country.


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Performed by Gary Stevenson
GARYSECONOMICS


Produced by Simran Mohan
MOHAN MEDIA