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This Wreckage

Diving into the Wreckage 6.2: The Continuing Debt Crisis w/ C. Derick Varn EXTENDED PREVIEW

This Wreckage

Sean KB and AP Andy

Music, Arts

4.2970 Ratings

🗓️ 14 September 2022

⏱️ 51 minutes

🧾️ Download transcript

Summary

Part two of Sean and Varn's extended discussion on sovereign debt ! This time we dive into the pre-history of of the present moment, how the New York City fiscal crisis of 1974-75 and subsequent banker's coup presaged a new 'post-industrial' and financialized regime of accumulation often called neoliberalism. And if debt crises are a signal of the rise of a new political-economic order, what sort of world does the current crisis presage?

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Transcript

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0:00.0

Welcome to diving into the wreckage with Barn and Sean and today we are in part two of an unknown number of episodes.

0:23.0

Not just unknown to you guys, very much unknown to us as well.

0:27.0

Which is part six of our series.

0:32.0

So I think we're to call it 6. six of our series.

0:40.7

So I think we're to call it the 6.2 of the sovereign debt crisis and we went over the theoretical conceptions that have kind of

0:42.7

played into this. We've talked about world systems analysis

0:44.7

and how it lays into this.

0:45.9

We've talked about the insights

0:48.9

and strong limits of modern monetary theory

0:51.7

and understanding the situation.

0:55.2

And I think, and we've kind of puritized neoliberalism a little bit for this,

1:01.4

but I think we need to, I think you know I wanted to jump in and just

1:05.1

started talking about all the doom like because every time I feel like we go away from

1:10.5

this two weeks come by and I'm like hey Sean shit's way worse than we talked about it two weeks ago

1:16.7

we were just mentioning you know on top of a massive sovereign debt crisis Pakistan of course now facing like world

1:25.2

historic flooding. It's a real tragedy what's happening over there. On top of a

1:29.6

political crisis where the populist leader Khan was overthrown by the military generals and so you have

1:37.1

Pakistan which we had mentioned I think in the last episode a couple few weeks ago as one of these pressure points.

1:44.0

And now like half of the watershed of the Himalayan mountains is just

1:48.8

poured down through Pakistan.

1:50.4

So I mean, things are escalating very very quickly the belt of the around the Himalayas with all between

1:57.2

sea water rises and glaciation melting it's going to be a disaster.

...

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