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This is the Tom Hartman program.

And we'll welcome back Tom Hartman here with you on the line with us, Professor Richard Wolf,

the economist, co-founder of Democracy at Work.info, the author of numerous books,

latest the sickness is the system when capitalism fails to save us from pandemics or itself,

it's also available as an e-book. Democracy at Work.info, already wolf.com, and Prof Wolf with 2Fs

is his Twitter handle. Professor Wolf, welcome back, there is this fascinating article

by Rouchier Sharma in the financial times this week pointing out that there's this massive

level of global debt, several hundred times GDP in fact as I recall, 350% of GDP, global GDP,

and that the central banks are like afraid to raise interest rates to control inflation

for fear that it'll make that debt unpayable and bus trigger a whole knock on domino

falling consequence of governments and companies all over the world collapsing.

Is this a holocaust situation? A holocaust is the wrong word, you know,

what's the word, you know, end of days kind of scenario economically?

Well, it certainly is a basic contradiction that this capitalist system has worked its way into.

Let's start with the inflation. We had gotten used to not having one, even though we were

...