3min chapter

"Upstream" with Erik Torenberg cover image

E14: Balaji Srinivasan on the Fiat Crisis, Russia, and China.

"Upstream" with Erik Torenberg

CHAPTER

The Digital Fire Alarm

The US government has been shifting around the losses that it booked since 2008, says Julian Zelizer. The money was gone one day and then came back three or four days later because they bailed out the banks in this crisis,. It actually didn't actually bail out the bank. What is happening now is not really the government bailing out the banks; what's happening is the worldbailing out the U.S., he says.

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