housing market among things he had the collapse excuse me years in advance of the crisis he's chris martenson he's also author of this book the crash course the unsustainable future of our economy and our g. and environment and he's here now to answer what can be done about all of this and what we need to be really worried about thank you so much for being on the show first of all welcome to capital account thank you arne pleasure to be here right now on this show we talk a lot about debt and how it's weighing on economic growth and economic recovery and economies in the west i know you talk about debt so what role do you see it as having in our economic problems it's everything if we just look at the economy alone just that one of the i can summarize the entire crisis in just three words too much and that's been my prognosis and diagnosis since probably about two thousand and eight is when i first concluded that this was an unsustainable level of debt and whether we slide it from the public side of the balance sheet to the private back and forth it doesn't matter there is just too much debt