Experts are sounding the alarm: the world is caught in a debt trap. The global mountain of debt has increased to more than 300 trillion US dollars. To cancel it out, the Earth’s population would have to work for nothing for three years. Is this a cause for concern?
Will private individuals, companies and even entire nations at some point collapse under the weight of this debt mountain? The film looks for the stories behind the debts to discover what can be done to address the problem. In Argentina, for example: Over the past 200 years, the country has faced bankruptcy eight times.
In the United States, people are punished for their poverty. Annita Husband was detained for months in a debtors’ prison in the state of Mississippi. Her fate is just one extreme example from a society in which more and more people in debt find themselves in a hopeless situation and lose their freedom.
But debts per se aren’t a bad thing, insists economist Christoph Trebesch. Particularly when the borrowed capital is used for sensible investments, debts make sense. But there are plenty of negative stories. One standout example of the credit-fueled hubris is the project “The World”, artificial islands off the coast of Dubai that, seen from the air, resemble a map of the world. Luxury properties built on the islands were designed as resorts for the super-rich. But the project ground to a halt in the financial crisis of 2008. Since then, the wind and the sea have blurred the outlines of some of the islands.
The film explores the question: what are the consequences of debts – for both debtors and creditors? And what sort of solutions might be on hand to deal with the gigantic volume of debt taken on by nations, companies and private households?
#documentary #dwdocumentary
______
DW Documentary gives you knowledge beyond the headlines. Watch top documentaries from German broadcasters and international production companies. Meet intriguing people, travel to distant lands, get a look behind the complexities of daily life and build a deeper understanding of current affairs and global events. Subscribe and explore the world around you with DW Documentary.
Subscribe to:
⮞ DW Documentary (English):
⮞ DW Documental (Spanish):
⮞ DW Documentary وثائقية دي دبليو (Arabic):
⮞ DW Doku (German):
⮞ DW Documentary हिन्दी (Hindi):
For more visit:
Follow DW Documentary on Instagram:
Follow DW Documental on Facebook:
We kindly ask viewers to read and stick to the DW netiquette policy on our channel:
world , The global debt crisis – Is the world on the brink of collapse? | DW Documentary , #global #debt #crisis #world #brink #collapse #Documentary
, Documentary,DW documentary,full documentary,DW,documentary 2023,dw documentary,documentaries,Documentaries,documentary,debts,state bankruptcy,global financial flows,luxury real estate,Dubai,Argentina,USA
African country in debt for hundred of year and it never been "world" problem?
Whenever westherner have problem then it became "world" problem. They fought eachother it became world war.
😂😂😂
Bei solch pompösen Klamotten und solch unterdurchschnittlichem Gesangtalent sind des Wendlers Schulden für mich nicht überraschend
Debtors prison? Thought this wasn’t allowed in a free country.
Change Tax code on Debt & this problem will fix itself.
This fundamental doesn’t make sense if you think about it. The world made up the idea of money. So if we all just forgot all the debts and started over, then the problem would cease to exist.
At least in the US you can’t send some clown around in atop hat to shame people.
Public pays debts of elites just like now right Jay Powell
Dubai is like the Capitol in the Hunger Games. I.e. so f*ked up
Debtors prisons are slavery and illegal, so I don't know why they are allowed. Just because you change the name to restitution centers doesn't mask the idea that they are illegal under international law and against the 14th amendment in the USA. Why has our justice system allowed this.
This world’s collapse is way overdue. It’s a miracle is hasn’t already happened. 🤔😳
This is so badly researched and the so-called experts :))))
Of course not Jay Powell prints
K.K. Kent…..in Mississippi 👀
If we all having debt, were all on the same level. What if we all agree to just reset the debt to a scale thats appropriate? For context, human innovation in our lives is increasing the technological advancements of humanity exponentially. We could have a general AI in a matter of decades and fusion power. Maybe the debt we have is not on scale with those massive achievements.
Those luxury properties on man made sand islands are obscene. China's Country Garden has similar abandoned development in Malaysia also.
30:24 given the subject matter how did they find her….her name is K K Kent….what the heck? Thank G she wore a black dress for the interview
“Been that way for 30 years…” – life in Oklahoma County Jail, 2021
“No one truly knows a nation until one has been inside its jails. A nation should not be judged by how it treats its highest citizens, but its lowest ones.” – Nelson Mandela
Good topic 🥂🥂
What I take away from this is to act quickly to resolve debt.
I dont understand which country this debts are owed to?
B
Best documentary I even in years…. Show to the politicians to this documentary.
honestly, this documentary could have ended after Aita Magassa’s scene 47:05. Why present such a beautiful concept that’s inclusive of all only to end the documentary with a statement about capitalism when it had already been established that debt thrives in a capitalist society which doesn’t benefit everyone? Depressed ending
I Don't Pay My Debt Anymore for Salary Advance!
Sad. Capitalism is not serving its people, even in the richest places on earth… But we don't have anything better. What to do?
Very informative & helpful & easy to understanding. Well made documentary. Thanks from South Korea 😊❤
Who is the world in debt to? Mars?
Restitution centers sound so messed up, slavery is exactly what this is.