It’s the Debt, Stupid!

May 5, 2016

by Mike ‘Mish’ Shedlock
Mish Talk

For those still wondering why the global economy is struggling, the simple answer is “It’s the debt, stupid.”

We will return to the global economy in a moment, but first consider the plight of Greece.

A detailed study shows that of €215.9 billion in Greek aid, only €9.7 billion went to Greece. The rest went to banks and other creditors.

Greece still has to pay back the rest, and is struggling to do so.

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