Steve Keen Rebutted - His printing press creditor bailout does NOTHING for Domestic Economy

[cyrusp100]

You obviously haven't properly listened to Professor Keen. His solution would bankrupt most of the banks. His solution would kneecap the creditor class.

[feelthewyrd]

are you sure that he only advocates jubilee to those heavily in debt? If so then keen is a dick head or a crook. But the reason why such an idea is crazy is not because the poor underclass recieve nothing .... its because the worst borrowers and their creditors get bailed out. Decent borrowers and lenders are left to carry on with the crisis. But as i have questioned, the steve keen jubillee could apply across the board.

[waldentree]

I've become suspicious of Steve Keen.  He believes in man-made global warming, for example.

[DavidByrne85]

@waldentree lol. Very shushpishush.

[gwynedd1]

Paying the creditors principle does not pay creditors a thing. The principle is a liability on their books and would simply cancel the interest bearing debt. So if Keen wants to pay creditors with green backs that would be fine. Principle has no value to a bank other than its ability to earn interest.

[Zantorc]

You seem to have misunderstood Keen's proposal. The money goes to ALL citizens and firms. After paying any debt the remaining money is free to be spent.