104: John Perkins | Debt Traps & Confessions Of An Economic Hitman
Curious Worldview
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The Unbelievable Debt Trap in Ecuador
There was a hydro dam in Brazil called the Belbina Dam. It came in at three times the price, late, half of its operational potential. And then 20 years later had zero use. Rafael Correa, President of October for about 10 years, has a PhD in economics from,. he has an MBA from Belgium and a PhD ineconomics from the United States. He understands the system. When he first became President of Ecuador, he appointed a commission to look into whether the Ecuadorians really owed all the debt that the World Bank claimed they owed. A large amount of that debt was not owed by the people of Ecuador because it had been accepted by military dictators in Ecuador who were
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