Paul Craig Roberts - We Need Debt Jubilee or System Collapses
Former Assistant Treasury Secretary in the Reagan Administration Dr. Paul Craig Roberts says, "We need a debt jubilee. Debt jubilees were widely used in the ancient world. Either the system goes into collapse or you write the debts down and you start over. Again, either you paper it over again or you don't succeed and everything blows up."
Paul Craig Roberts is an American economist and a columnist for Creators Syndicate. He served as an Assistant Secretary of the Treasury in the Reagan Administration and was noted as a co-founder of Reaganomics. Dr. Roberts is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. He has testified before congressional committees on 30 occasions on issues of economic policy. He has penned a dozen books, most recently The Failure of Laissez Faire Capitalism
