What is money and who rules the world? | Yanis Varoufakis | Escaped Sapiens #46
The Escaped Sapiens Podcast
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Forgiving Unpaid Debts and Writing Off Unpaid IOUs
In 2008, where we had the bailout of the banks, I would understand sort of how dirty this process was. Who is it that's paying to buy out those busted bets, the toxic assets? Well, you see, it depends on what's happening in the rest of the economy as well. So when you have socialism for the very few who happen to be the financiers and austerity for everywhere else, you end up with a catastrophe. The people who created the crisis get power and money. And the people who suffered the crisis are suffering austerity.
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