Austerity will lead to economic collapse

As Toronto prepares to play host to the world's leaders, the global financial crisis continues to rage. Economics are expected to be at the forefront of discussions at the G-20 summit, however, each country has different concerns. Michel Chossudovsky says that what works in Europe is unlikely to be effective in the US since the causes of the economic crisis in the US are well known: escalating military expenditures and the bank bailout.