(1 of 3) Steve Keen on debt and the economy: How do we pay for all this? Oct 09.

Uploaded to youtube with permission from Associate Professor Steve Keen.
Canberra, October 2009. Speaking at the Per Capita annual conference Policy Exchange 09, economist Steve Keen looks at the rising national debts in Australia and the United States, paying particular attention to their historical relationship with recessions, growth and unemployment. He suggests that the levels of debt in both countries have reached a point which virtually guarantees a very difficult economic road ahead in the long term.
Canberra, October 2009

Category:

Education

Tags:

• steve
• keen
• economics
• debt
• crisis
• bubble
• historical
• recession
• minsky
• on
• the
• edge
• max
• kieser
• peter
• schiff
• deflation
• housing
• home
• national
• 2009
• october
• canberra
• My
• Per
• Capita
• Talk
• Debt
• 21st
• 21
• Policy
• Exchange
• Conference
• australia
• australian

[rupertmja1]

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.

[pietrrocks]

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

[CusterFlux]

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?

[oldickeastman]

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.

[mrzack888]

physical gold are being bought with savings because those sellers only accept cash, no leverage margin or credit card, straight 1 to 1 cash.

[Scooternz]

Steve Keen for NZ Prime minister

wake the f up people!

[JeremyKonstenius]

Not only is the Devil an angel but also the son of god

[whereismybailouttv]

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?

[LuqmanNaq]

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.

[blokeatone]

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 ......