FACT : Unsustainable Debt build-up induces and instigates economic crisis.
FACT : Debt growth has actually surpassed the 2007 peak by over 40% as of mid 2014.
FACT : The on-coming crisis will very likely surpass 2008/09 in economic pain.
Steve Keen follow’s on with his views……….
“Conventional economic theory says ‘crisis don’t happen’ unless they are hit by an [outside] shock” exclaims Steve Keen, adding that numerous Nobel Prize winning economists have suggested that “capitalism is stable…” and “the problem of avoiding depressions has been solved for many decades.”
But as Keen explains in this brief but extremely succinct interview, they are wrong – and simply won’t (or can’t) see the next one coming. “People in the public think economists are experts on money; but, in fact, they are experts in finding ways not to include money, debt, and banks in their models”