Last updated 8:53AM ET
May 26, 2012
RadioActive
RadioActive
RadioActive Dec 1: Global Economics
Nick Burns (2011-12-01)
SALT LAKE CITY, UT (krcl) - Whose debt is it anyway? Nick travels to Greece and Argentina to examine different responses to the global recession. In our first segment; "It's all Greek to me!" writer/researcher Andrew Gavin Marshall explains how major U.S. banks like Goldman Sachs and JP Morgan Chase helped the Greek government mask their debt from European regulators, hedging their bets with insurance in case of default. It's a win-win for the bankers but "social genocide" for the Greek poor and working class. Later in the show Nick welcomes Mark Weisbrot, co-director of the Center for Economic Policy Research to discuss a bright spot in the world -- Argentina. After being trapped in severe recession, the Argentine government defaulted on their debt, abandoned the currency peg to the dollar and tripled social spending. The result; rapid growth, and a massive drop in extreme poverty, unemployment and income inequality. Do Greece and Argentina have lessons the U.S. should learn from? "It's All Greek To Me": www.andrewgavinmarsall.com, "Argentina Success Story": www.cepr.net © Copyright 2012, krcl
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