The David McWilliams Podcast cover image

The third world debt crisis is going to affect you

The David McWilliams Podcast

00:00

Yankster Watch

Mbuto paid don king a fortune to put the fight in africa. Mabuto and many, many african daders borrowed hugely in the 19 seventies off the back of it. The oil crisis happens in 83, 73, right? 73. Arabs put up the price of oil, huge amount of western money floods into the arab countries,. Gulf countries are particularly backward at the time. They can't spend enough money, so they give the money back to the western banks. So that's the economic that's why it was in africa at theTime. Now, interestingly, we're exactly at the same point in the economic cycle. African countries have borrowed huge amounts

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app