We firstly speak to Dean Baker, the co-founder of the Center for Economic and Policy Research and one of the first economists to predict the property market crash in 2008. He discusses the bailouts passed in the United States by Congress, how they have many giveaways to the richest in society, how the giveaways have nothing to do with the pandemic, why the Coronavirus bailouts are worse than TARP (Troubled Asset Relief Program), how state and local governments have been left out of the bailout and why this will cause economic crises in the United States, the pointlessness of austerity for the last decade in the US and U.K and why high public debt is not as dangerous as commonly thought.
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