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How Debt Zombies Like China Will Cause A Credit Crisis (On Real Vision)
Manage episode 430211242 series 3579547
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"When QE first started, I called it a pact with the devil, a bit like signing a contract with Mephistopheles because once you've signed this contract, you know you can't get out of it."
Join economist Steve Keen as he delves into the intricacies of Quantitative Easing (QE) and its long-term implications on the global economy. In this video, Keen critiques the Federal Reserve's strategies, debunks the myth of the wealth effect, and explains why current economic policies might be setting us up for future financial crises. Discover why he believes central banks are like sorcerers who don't understand their own spells and what can be done to steer the economy towards a more stable and equitable future.
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Who is Dr. Steve Keen?
Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against conventional economic models. Holding a Ph.D. in economics, Dr. Keen is well-known for his critical analysis and advocacy for more realistic economic approaches. His work emphasizes the importance of accounting for financial instability and incorporates elements of complex systems theory. Engineers, finance professionals, and IT experts will appreciate his methodical breakdown of economic phenomena and his development of the Minsky software, which models financial crises. Dr. Keen's contributions are crucial for anyone seeking a deeper understanding of how economic systems can impact technological and financial environments. His teachings offer valuable insights into the economic forces shaping our world. By following his analysis, professionals can gain a better grasp of economic dynamics that influence their fields.
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