Paul Keating On Economic Crisis 2009 Part 2 Of 3

Former Australian PM / Treasurer give an interview to ABC TV "Lateline" program on the world economic crisis. Interesting point of view on the crisis that is completely at odds with the mass media and current government's reports, and well worth listening to. Note: Paul Keating was the Australian Labor Government treasurer from 1983-91 and Prime Minister 1991-95. He presided over 2 very nasty recessions, (including his infamous "recession we have to have"), home loan interest rates as high as 17.5% at one point, brought the unwanted cancer of Political correctness to this country and was not my favourite person, but in this video many of the points he makes are thought provoking. His views are a definite change to when he was in power.

2: the "4 pillars" bank policy he refers to - was in relation to the 4 major Australian banks, "Westpac", "Commonwealth", "ANZ" and "National" (Now called NAB).

Category:

News & Politics

Tags:

• paul keating
• economic crisis
• recession
• depression
• federal reserve
• wall street
• china
• bernanke
• four pillars policy
• IMF

[adc123451]

ur spot on. people seem to forget about the wages blow out under howard as treasurer in the early 1980s.

not to mention that aust. worst ever recession was again w howard as treasurer. (and when global economic conditions were a lot better than they have been recently.)

But you cant deny that this ALP govts. stimuls has kept us out of recession - and projections are - have saved us from $100s billions of debt. - which we would have had if the liberal party were in power.

[tssbozo]

I suggest you purchase a copy of Economics for Dummies.

Recessions are a natural part of the economic cycle. Trying to avoid one leads to what we have now - complete financial collapse. You can thank Howard and Bush and Democracy and the greed for re-election.

People like Keating who genuinely care about the bigger picture don't exist in democracies anymore.

[Baldwynmayhem]

@adc123451 hang on, we are well over $100 billion in debt still, it's around $140 billion atm. and we have high interest rates to boot due to fake stimulus creating a false economy the past 2 years, was a bad move.

[martyocean]

it's the super of the future

[philphie]

i'm not big on economics but based on common sense, seeing how most supers are worthlees now wouldn't it be wise short term wise to take whatever they are worth out now and use that as a stimulus package

[sighbaru]

The great depression we have to have!!

[angrylala]

tricky poo!

[rollsthepaul]

To say good-bye say "Toodleou or just toodle"

[manque15]

tricky poo LOL I'm going to start using that.