Steve Keen: Could A Debt Jubilee Really Work?

Peak Prosperity, Released on 8/7/19

One way or another, we’re going to have to address the $trillions of outstanding bad debts. Over the past decade, the world’s central banks have distorted the price of money by bringing interest rates to record lows. With credit so cheap, asset prices have risen dramatically as companies and governments have borrowed to the hilt. And now with the “Everything Bubble” threatening to burst (perhaps in mid-bursting already?), we’re suddenly realizing that the phantom asset price gains were ephemeral, while the debts are permanent. How will the economy cope with dangerously overleveraged nations, industries and households? Not well.

To discuss this massive problem and propose some potential solutions is Steve Keen, professor of economics at Kingston University in London and author of Debunking Economics.

Full Description and Comments at: www.peakprosperity.com/steve-…

Steve Keen is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. Keen was formerly an associate professor of economics at University of Western Sydney, until he applied for voluntary redundancy in 2013, due to the closure of the economics program at the university. In autumn 2014 he became a professor and Head of the School of Economics, History and Politics at Kingston University in London. He is also a fellow at the Centre for Policy Development. He is the author of Can We Avoid Another Financial Crisis? (The Future of Capitalism).

Christopher Martenson is a former American biochemical scientist. Currently he is a writer and trend forecaster interested in macro trends regarding the economy, energy composition and environment. He is the founder of PeakProsperity.com. As one of the early econobloggers who forecasted the housing market collapse and stock market correction years in advance, Chris rose to prominence with the launch of his seminal video seminar which later became a book called The Crash Course. Chris’ latest book (co-authored with Adam Taggart) is called Prosper!: How to Prepare for the Future and Create a World Worth Inheriting.