Published:
May 31, 2020
Anyone who entered the crisis in debt is less likely to be successful than someone who came with a safety mat and a stable and well-paid job. "It will destroy the debtors, tenants and those who have credits that they cannot return due to the loss of their income,” said LBJ’s James Galbraith. "Unless there is general relief from those debts, the creditors will take the assets at balance prices. Without that reset, there will be a prolonged depression and massive pauperization of the hitherto middle classes.