Prof Michael Hudson on Why The Debt Crisis Keeps Deepening

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Mr. Bernanke has endorsed pure bailouts to the banks, insurance companies, real estate packagers and other Wall Street institutions to support asset prices thereby saving the economy's financial balance sheet, not its employment and living standards. More debt is not the problem, in Chairman Bernanke's view. It's the solution. This is what makes his re-appointment so dangerous. Austerity programs are being prepared for the USA

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