Keen Switzer Sky Business News 20110913

Excellent wide-ranging interview by Peter Switzer (www.switzer.com.au) on Sky Business News about the financial crisis, who predicted it and how, and what the prospects are for the global and Australian economies and the Australian housing market.

Category:

News & Politics

Tags:

• GFC
• Global Financial Crisis
• Steve Keen
• Stock market
• House Price Bubble
• Housing Market
• Australia
• Australian Economy
• economic crisis

[ProfSteveKeen]

I'm with you JustNotCricket. Peter's affability gives him a very good interviewing style.

[ProfSteveKeen]

I'm with you JustNotCricket. Peter's affability give him a very good interviewing style.

[ProfSteveKeen]

Actually, Peter is an old mate of mine, so it was more a fireside chat than a hard-nosed interview. And unfortunately, there aren't many hard news programs here--certainly none that will give you 15 minutes to flesh out ideas.

The best hard news show in America, in my opinion, is Jon Stewart--masquerading as comedy (pretty good masquerade too). That's how I see this one from Peter as well. The questions and style might appear soft, but it gave me a platform to flesh out ideas.

[koala8]

@MrAlienlovechild

"Unregulated capitalism has no self-correcting mechanisms"...isnt the correcting mechanism supposed to be the market? (i.e. in a free market situation)...

[ftwbk]

@MrAlienlovechild clearly, u don't know/understand what a free market is in that case. what ur describing is called corporatism or fascism. this is pretty elementary stuff. read some rothbard. also, do u think banks all got together and decided to make a bunch of home loans? why were interest rates so low? the banks didn't set them. banks were just a symptom of the problem gov't policy caused by mandating that banks lend to those who had bad credit. have to know the source to fully comprehend

[ftwbk]

@MrAlienlovechild "just look around you" where should i look? no free markets around me in the US. perhaps around me means another country that currently doesn't exist. if it was gov't policies that got us into this mess how can they possibly help unless they act to stop what they've done & r doing. freedom isn't perfect it's just more perfect than any known system of governance. once gov't interferes with freedom u get unintended consequences that r far greater than the ills they sought to cure

[ftwbk]

appreciate some of keen's scholarship but ultimately he's a socialist (i.e. supports the central bank setting interest rates) and doesn't understand the self correcting mechanism of a true free market. he's still under the illusion that government can cure most ills. also, many statisticians have this myopic focus which sometimes prevents them from putting their work into a larger context. moreover, keen just accepts gov't statistics at face value and offers no skepticism of cpi/gdp for ex..

[justnotcricket]

I'm gonna go against the grain and say that I quite like this Switzer fellow, I find him rather affable.

Also Trichet is a goose. I can fix the € in 5 minutes, that's all the time I'll need with him in a dark room. Monsieur Bouthillier needs to be stopped.

[artyfarty3]

My father bought his first house back in 1984 , 2.5 acre land with 3 bedroom , fibber board house ( cheep - first home ) . He paid only $ 22.000 ! His income was $15 K a year working for Mitsubishi . Average wage back then was around $25 K a year . The same house & land would cost around $ 300.000 today . Average wage is $65 K today .

If my dad tells me once more that he is better then me 'cos "he had a home of his own at my age" i will pound his stupid head in to the pavement !

[angie7dino]

@BTinHD its not bad news and its not good news, its just information.. its how YOU receive it.

make some moves, be on the right side of what is coming down the pipe, use this information to YOUR advantage . Peace

[BTinHD]

Its easy to bring bad news when you aren't looking for a job. Being unemployed is horrible.