Are We Close to a 1929 Depression? The Indicators Are There

Corporate debt has risen 40% since 2008. Of these debts almost 50% are in danger of being graded as junk bonds. The author of this article blames the fed for not raising the interest rates because by not doing that it encourages finance capitalists to invest in high-risk speculation. Meanwhile in the real economy, the car manufacturers are desperately offering consumer loans stretched out over 8 years! The trucking industry has lost 4,000 jobs. This situation is compared to conditions of 1929.

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