19 Jul 2011

US elite partying weeks ahead of default

Banks are failing a stress test in Europe, the debt debate in the US continues unabated and bad economic news continue to trickle in. America might face default in a few weeks following the debt ceiling talks. And all the while. average folks are still sweating an economy that has taken their jobs and consumer confidence is at the lowest level in two years. So why are the elite partying? For some answers, RT's Lauren Lyster talks to radio host and economic blogger Demetri Kofinas.

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