
Episode 6: The Financial System
Breaking Down: Collapse
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What's Going on in the US?
Since the beginning of the recession, we've dropped from 600 oil rigs down to one 89. One reason is that wage disparity means that people can't buy as much as they could before. The weaker oil and gas companies are going under leaving really only the biggest businesses with good enough profit margins to survive. We're not meeting that required economic growth rate to pay off the interest rate on all the debt in the system. And that leads to recession and joblessness.
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