Experts are sounding the alarm: the world is caught in a debt trap. The global mountain of debt has increased to more than 300 trillion US dollars. To cancel it out, the Earth’s population would have to work for nothing for three years. Is this a cause for concern?
Will private individuals, companies and even entire nations at some point collapse under the weight of this debt mountain? The film looks for the stories behind the debts to discover what can be done to address the problem. In Argentina, for example: Over the past 200 years, the country has faced bankruptcy eight times.
In the United States, people are punished for their poverty. Annita Husband was detained for months in a debtors’ prison in the state of Mississippi. Her fate is just one extreme example from a society in which more and more people in debt find themselves in a hopeless situation and lose their freedom.
But debts per se aren’t a bad thing, insists economist Christoph Trebesch. Particularly when the borrowed capital is used for sensible investments, debts make sense. But there are plenty of negative stories. One standout example of the credit-fueled hubris is the project “The World”, artificial islands off the coast of Dubai that, seen from the air, resemble a map of the world. Luxury properties built on the islands were designed as resorts for the super-rich. But the project ground to a halt in the financial crisis of 2008. Since then, the wind and the sea have blurred the outlines of some of the islands.
The film explores the question: what are the consequences of debts – for both debtors and creditors? And what sort of solutions might be on hand to deal with the gigantic volume of debt taken on by nations, companies and private households?
#documentary #dwdocumentary
______
DW Documentary gives you knowledge beyond the headlines. Watch top documentaries from German broadcasters and international production companies. Meet intriguing people, travel to distant lands, get a look behind the complexities of daily life and build a deeper understanding of current affairs and global events. Subscribe and explore the world around you with DW Documentary.
Subscribe to:
? DW Documentary (English): https://www.youtube.com/dwdocumentary
? DW Documental (Spanish): https://www.youtube.com/dwdocumental
? DW Documentary ??????? ?? ????? (Arabic): https://www.youtube.com/dwdocarabia
? DW Doku (German): https://www.youtube.com/dwdoku
? DW Documentary ?????? (Hindi): https://www.youtube.com/dwdochindi
For more visit: http://www.dw.com/en/tv/docfilm/s-3610
Follow DW Documentary on Instagram: https://www.instagram.com/dwdocumentary/
Follow DW Documental on Facebook: https://www.facebook.com/dwdocumental
We kindly ask viewers to read and stick to the DW netiquette policy on our channel: https://p.dw.com/p/MF1G
This much debt is not natural regardless of what some people think. The main issue is who everyone owes TO. And the answer is: private corporations and through them the ultra-rich of the world. Through tax loopholes produced by corrupt politicians and tax havens their corporations have been draining whole countries of resources and money for decades. I mean every country: from Argentina to the US. And now this is becoming a worldwide crisis. All because of unconstrained greed.
Don't get me wrong – I'm all for capitalism and making money. But when the richest can bribe politicians to make even more money, it's not capitalism. It's corruption. And it erodes everything, including capitalism itself, because it kills any real competition.
Owing 65,000 euros because he didn’t want to add or subtract while being in business is a recipe for financial disaster.
Anita was a thief! Not a debtor!
Manipulated “money”…end Fiat currencies!!!!
just wondering if this palaces owners in Dubai ware vaccinated for covid 19
Fiat currency is just another way the elites use to fleece the masses. The best part of it is the masses are too ignorant thanks to the "educations" they've received in government schools that they don't even know they're being robbed daily! It's pure, evil genius.
I'm sorry I had to stop watching this as soon as the palace was shown. With so many people suffering in the world I cannot watch someone walk across a floor made for only Kings. Every King that stays in that palace should have to do one day in the life of a poverty-stricken, homeless person. I would never stay there my conscience wouldn't allow it knowing, if I were rich, I could spend my money on much more productive things that would benefit mankind. Then, and only then, would I be able to enjoy myself in that environment. God, humble us!
A lot of socialist nonsense from the guy that you interviewed in Argentina. lol
So now those that can not manage their money it our problem those that have made the effort – no one forced them to take on debt – typical victimhood being pushed on everyone else
It's important to understand this debt is merely digits on a screen, fiat currency not inderpinned by anything real. It's a human construct. If we cancelled capitalism and neoliberalism, we could cancel debt. It's in the mind, it's an ideology. If you believe it, I guess you'll die for it. After all it's the cause of the climate and environmental crisis. Now that's real, but the debt isn't, only if we all believe it is. It's an ideology, a human construct. We can actually do anything we want if we cancel this criminal system and go with deliberative democracy. It's what the kleptocrats are scared of. Thanks
The systems we have are to enslave people ! God gave us everything for free! We are not here to work and get fake money and live in boxes and be indoors and suffer from sicknesses and be depressed and have less than enough and worry.
We are free when we realize and let go.
Learn to farm! Learn to grow your own food! Be compassionate but also seek to the true God and the help of the universe. Try to go to warm sunny places with good food and environments
That’s why they want to remove populations so people don’t retaliate by the masses
And if everyone knows it will cause a problem
They are pushing to digitalize everything because there is no more money
Yes the whole world is bankrupt! God is reversing everything back to the way it was supposed to be in the very very beginning of time! Paradise! Freedom! Not slaves to evil
anita looks and sound like such a sweet lady. How can these goberment motherfuckers do that to her……..them motherfuckers………….
i can not believe the hypnotic lie that gobertments put on the citizens. That experience of that lady scares me. It is slavery to a degree………….
kk kent what a funny name
Although not as outrageous as Mississippi, Baldwin County Alabama has a peculiar system to make sure people pay their trash pickup fees which are mandated by county law. Failure the pay the fee will result in a summons to court. Failure to appear in court will result in an arrest warrant for failure to appear and an arrest warrant issued.
A notable exception happened when a non-payer showed up in court and plead his case, that he simply dd not have the money to pay the trash bill. So the judge locked him up indefinitely until he paid up, which is a clear violation of the Constution.
After a while his wife contacted the Southern Law Poverty Center for help and he was released. He could have spend ther rest of his life there without them.
Now the county is back to just locking those up who fail to appear in court, not for not paying the trash fee, a roundabout way to jail a person for a debt.
But even more peculiar is that most people who live here see no problem with having debtors prison. Porbably because it's happening to someone else and not them and this is Alabama, after all.
So where is all the cash going….???? clue the RICH
LOL… the ultra rich are literally building castles in the sand, not to mention a huge city at (a rising) sea level.
The argentine "economist" is anything but a socialist. Argentina is broke because of populist governments that spend ever higher amounts of money squeezing the private sector which understandably leads people to take their money elsewhere where it won't be taxed as high as it is in that country.
K. K Kent… I know that's just her initials but the mentality is clearly there. Which makes all the sense in the world because the system she's using to "pick up" and "drop back off" is the same old system with some different words.
It is actually by design. The plan is to crush it first so a new monetary system comes into play. A more "digital" version if you will and it will be presented as the "solution". What i would like to know is to whom are we in debt to? Nobody asks that question.
34:39 undercover slavery .Damn! Americans that must hit hard coming from a black person
Creating a mini Europe!
So who does the world owe so much money?
This is how billionnaires control politics. Excess capitalism kills
Only the king of thieves can afford that kind of house in Dubai. Continue to help the riches to build this kind of utopia