https://www.ted.com/talks/yanis_varoufakis_capitalism_will_eat_democracy_unless_we_speak_up/transcript?language=en#t-699594 The video is important because it illustrates two peaks that have been threatening the economy of the United States, Europe, and the world. It brings up the fact that there are two staggering peaks of money where “the economic sphere [is] colonizing the political sphere, eating into its power(Varoufakis).” As a result of this, I think it is important to analyze those two peaks; one where in the last three months about 3.4 trillion dollars have been used on wealth producing goods but adding to our debt. In comparison, there are about 5.1 trillion dollars that are held within these countries’ banks, trust companies, insurance companies and investment dealers. Varoufakis says that the money is “slushing around,” so it is doing nothing. It is important to realize, that this money could be used to help decrease the debt. It should raise the question of why? Why is it that nothing is being done by the financial institutions? Why is it that corporate power is increasing and political goods are devaluing(Varoufakis)?
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https://www.ted.com/talks/yanis_varoufakis_capitalism_will_eat_democracy_unless_we_speak_up/transcript?language=en#t-699594
The video is important because it illustrates two peaks that have been threatening the economy of the United States, Europe, and the world. It brings up the fact that there are two staggering peaks of money where “the economic sphere [is] colonizing the political sphere, eating into its power(Varoufakis).” As a result of this, I think it is important to analyze those two peaks; one where in the last three months about 3.4 trillion dollars have been used on wealth producing goods but adding to our debt. In comparison, there are about 5.1 trillion dollars that are held within these countries’ banks, trust companies, insurance companies and investment dealers. Varoufakis says that the money is “slushing around,” so it is doing nothing. It is important to realize, that this money could be used to help decrease the debt. It should raise the question of why? Why is it that nothing is being done by the financial institutions? Why is it that corporate power is increasing and political goods are devaluing(Varoufakis)?
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