The third world debt crisis and its similarities and differences to the 1980s crisis

The podcast discusses the current third world debt crisis and compares it to the crisis in the 1980s. It highlights the greater extent of financialization today and the similarities in terms of loans being pushed by rich countries to third world countries. It also mentions the role of the IMF and the World Bank in enforcing debt repayment, but notes that the capital flows from the shadow banking system are even bigger. The episode emphasizes the need to understand the global financial system and its impact on third world countries.