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\nThe Debt We Don't Talk About\n

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\n\nPublisher:\n\nInstitute for New Economic Thinking\n\n\n
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\nHow do you know a major financial crisis is coming? Look for a spike in privately held debt, by households and corporations.That's the argument of Richard Vague, author of The Next Economic Disaster: Why It's Coming and How to Avoid It....\nHow do you know a major financial crisis is coming? Look for a spike in privately held debt, by households and corporations.

That's the argument of Richard Vague, author of The Next Economic Disaster: Why It's Coming and How to Avoid It. Having worked for more than 30 years in consumer banking, Vague describes how he saw the build-up of private debt in the mortgage and credit card industries first hand--even though it's an issue that neoclassical economists like Milton Friedman barely acknowledge. To avoid another crisis, Vague says firms and governments need to take debt forgiveness--the biblical \"jubilee\"--seriously. As he says, after the financial crisis \"We helped the banks, we didn't help the households.\"
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Resource Details

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Educator Rating
Not yet Rated
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Media Length
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15:04
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Grade
Higher Ed
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Subjects
Social Studies & History
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Media Type
Instructional Videos
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Source:
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\nNew Economic Thinking\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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debt, mortgages, business, loans, money, japan, october, sharing
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Additional Tags

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video, camera phone, video phone, free, upload, economic theory, 19th century, paying attention, unprecedented amount, consumer mortgages, household mortgages, private debt, money creation, business debt, lending, crisis, important, finally, thing, crises, found, creates, back, world, find, story, fact, people
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Classroom Considerations

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Video is ad-free
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