On the ten-year anniversary of the financial crisis politicians are again ignoring the drivers that caused the biggest financial meltdown since 1929.
Contrary to political groupthink it is excess private debt – not public debt – which links the financial crashes in the roaring nineteen twenties, the so-called Japanese ‘economic miracle’ in the 1980’s, the US crash in the early 2000’s, and of course the Great Financial Crisis of 2007.
But today, private debt is again raging and nobody seems to want to address the issue.
So on this show we ask what’s stopping us talking about the taboo that is Britain’s Private Debt Problem.
Host Ross Ashcroft is joined by the anthropologist and writer David Graeber and the former Chairman of the now abolished Financial Services Authority Lord Adair Turner.