Is another GFC brewing?
· 18 min · Episode 2045
Episode Is another GFC brewing?
The numbers are almost incomprehensible – last month US debt hit 40 trillion dollars. With an interest bill of more than three billion dollars a day.
And that’s before Donald Trump’s trillion dollar promise to hand every adult in America a cheque for five thousand bucks!
Now, as global debt levels rise to record highs, and the cost of paying that debt rises too – experts are sounding the alarm – warning the economic storm that’s brewing is starting to look an awful lot like the 2007 global financial crisis.
Today, Senior Economics Correspondent at the Age and SMH, Shane Wright on the chance of another GFC and what it means for Australia.
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Guest: Senior Economics Correspondent at the Age & SMH Shane Wright
Photo: AP Photo/Richard Drew
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