UNISONActive is an unofficial blog produced by UNISON activists for UNISON activists. Bringing news, briefings and events from a progressive left perspective.

Monday, 5 November 2012

Why is there so much debt?

Positive Money blog has uploaded a video which explains that there is so much debt because almost every pound in the economy has to be created by a bank and lent to us. There has to be as much debt as there is money, and the more we borrow, the more money there will be. It’s actually impossible for the public to reduce their total debt as long as banks are allowed to create money as debt. Watch here: