The Debt of the Private Sector

Two-thirds of debt is not in the public sector it's in the private sector. A huge amount of debt means that government these companies are in danger of going bust and we were seeing a sharp increase in bankruptcies both in Europe and the US over the last 12 months. The kind of debt that we've had over the last seven many decades has been on the of the absolutely opposite time, he says. Instead of pay our economies have been run in such a way as to put downward pressure on wages either keep them stagnant or even declining in real terms.