Bail-out won't work - Steve Keen on SBS News 4-10-2008.flv

[oldickeastman]

Keen rebutted in the following video -- paste WkdEHRpmG4k to YouTube Search - includes flow diagrams that really do explain this hyper-Deflation.

Keen will have the printing press pay the foreign creditors while disallowing them to invest in the US -- he does not escape the false Austrian logic that austerity is necessary. American needs consumption and government spending and purchase of production goods -- not austerity. He would bleed a patient who has already lost blood.