Some Debts Are More Equal Than Others: Why The Fed Prefers To buy Junk Bonds
Flashpoints / 28 May 2021/
Why are the Feds willing to buy back junk bonds but not student debt? US domestic households have a total of 14.6 trillion dollars in debt. Why doesn’t the Fed attempt to alleviate this if it wants people to spend money? Student debt in the US is 1.71 trillion dollars, now larger that credit card debt. The state could forgive that debt without costing it a penny. Why doesn’t it do that? Find out why with Paul Jay and Michael Hudson.
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