pcr makes good points about our situation as he usually does, in this essay about what and where, 'our' leaders have taken us to, and how they might fix some of it;

Everything Accomplished During the Great Depression to Make Capitalism Workable Has Been Taken Away Resulting in Economic Crisis that Only Debt Forgiveness Can Mitigate

Paul Craig Roberts

Below are an interview I gave to the Herland Report prior to the coronavirus explaining our precarious economic situation and Michael Hudson’s article today explaining that the way out of the economic crisis is a debt jubilee.  As the debts cannot be paid, it makes far more sense to forgive them than for all of us to sink with them. Debt cancellation is not an expression of idealistic egalitarianism. It is a practical alternative to prolonged depression and worse economic polarization with all of its social and political implications.

The central point of my interview is that deregulation and concentration of the economy and its financialization has made another severe depression unavoidable—unless possibly there is a debt jubilee as Michael Hudson recommends.  See:  https://www.nakedcapitalism.com/2020/03/michael-hudson-a-debt-jubilee-is-the-only-way-to-avoid-a-depression.html 

The question we face is whether our leadership can understand that more debt is not the answer.  So far “solutions” seem to be to make more loans, thereby continuing to build up debt. As existing debts—mortgage, student, car, credit card—are so overwhelming that they cannot be paid, adding more loans is like throwing fuel on a fire...........read more.......