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Clearly the Economics Departments have made a mistake ... they'll be damn certain never let a guy like Steven through again: and as for the depression ... they're making plenty of money off it, so what's the problem?
CusterFlux 2 days ago
Keen HAS NOT EXPLAINED -- He merely says there is "debt bubble" or "ponzzi economy" of high debt ration that "bursts" . This is not a reason why credit money crashes. It is re-warmed "mal-investment" theory. There is no bubble. Depression must follow when the money supply is all laons that must be paid back principal plus interest. I rebut Keen in the following video -- please paste WkdEHRpmG4k to YouTube Search - includes flow diagrams that really do explain this hyper-Deflation.
oldickeastman 2 months ago
This has been flagged as spam show
PEOPLE For Mathematically Perfected Economy™, Mike Montagne, proposes a very simple solution which would put our economy in the hands of WE the people who actually create money and wealth. No banks, no interest and a Common Monetary Infrastructure. This will be a truly free market where centralised governments would have no role to play in the economy.
pooth27 2 months ago
physical gold are being bought with savings because those sellers only accept cash, no leverage margin or credit card, straight 1 to 1 cash.
mrzack888 3 months ago
Steve Keen for NZ Prime minister
wake the f up people!
Scooternz 1 year ago
Not only is the Devil an angel but also the son of god
JeremyKonstenius 1 year ago
Yes we are addicted to debt, money, food, sex, cars, "watch out now" we've forgotten about God, love, community, giving, helping the poor...oh my..not too late people
pietrrocks 1 year ago
What would happen if every credit card holder who could stopped using it for say 3 months? How long would it take for any discernable effect to show up in economic reports?
whereismybailouttv 1 year ago
Strange he said that economists who saw it coming were followers of minsky! Peter Schiff is an economist who predicted it and he follows the austrian school of economics. Ron Paul (from 2003), Michael C Ruppert and Jim Rogers also predicted it based on the austrian school. Ludwig von mises, FA Hayek and Henry Hazlitt wrote books over half a decade from the austrain school economic model showing how neo-keynesian policy would lead us here.
LuqmanNaq 1 year ago
Nice Guy and well educated....debts the problem?...absolute
genius!.....more regs....more corp socialism ......Steves a gov
egg .......any private sector reality here..........nup ....just the
belief in jobs for life.......soak it up ......
blokeatone 2 years ago
Another reason the powers that be missed the depression is that they were lying. They knew it, but were simply afraid to admit the problem, and instead tried to talk the market up.
rupertmja1 2 years ago 5
my MBA economics teacher said the debt wasn't such a big deal because the US holds massive amounts of assets overseas....
mrzack888 2 years ago
Well there is another HUGE pink elephant standing in the room! The legs of an Australian recession have been sawed off by the Australian Govt & the RBA. They reduced interest rates down from 10% to 5%.
The Breaks have been yanked out of the speeding car.
Speculation in Housing, the Stock Market & all other fiat debt based Ponzi Schemes are in full steam again!
Basically out of my 50k wage i have about 9k left minus rent tax and the necessities.
Debt=Inflation=poor get poorer, ty BBs n X'ers
fox20012 2 years ago