The On the Edge Interview with Steve Keen

15 Responses to The On the Edge Interview with Steve Keen

1. sean | September 22, 2009 at 4:16 pm |

   Currency is not money. It is a debt instrument. Currency(National Currency) is a claim on national wealth deliverable via taxation or surrender of wealth producing assets or the product thereof. A Fed Governor stated in 2003 that “he was amazed that the majority of the public did not realise that currency was a debt instrument.” Read “Organisation of debt into currency and other paper” by Charles Holt Carrol. People, especially economists should state whether they believe currency to be money or not as they are not the same animal. Is Currency a paper claim on money?
   At least Steve Keen has the balls to state that he is a neo Keynsian with a Minsky bent, on his site.
   Debt for nothing and someone elses chicks for free. The people VALUE debt more than they value the product of their labour. Currency is a claim on it.
   Banksters: Instant a…holes, just add debt.

2. Dan | September 21, 2009 at 10:11 am |

   Deleverage out of trillions of debt? Thats not possible, the interest alone will overwhelem any cuts you try to make.

   Like a bum with 100,000 of credit card debt trying to pay off his debt by collecting cans to sell at the recycle centre it will not come even close to paying off the interest on his debt… therefore his only option is to get more debt to pay off his debt = inflation.

3. Neil | September 21, 2009 at 2:53 am |

   Any chance of mp3 of the shows to allow easy download on phone
   love the show u got a bed if your in Brisbane

4. Heraclitus | September 20, 2009 at 8:54 pm |

   The “assumptions” of the Neo-Classical economists. Reminds me o the joke: A group of economists are stranded on a desert island with a few cases of canned goods. Assume a can opener.

5. FranSix | September 20, 2009 at 7:44 pm |

   Finally, we find somebody paying attention to Japan.

   QE is the joker wild card in deflation.

   Hard money advocates are great, but Keynes was right about only living so long.

6. harry_w | September 20, 2009 at 6:02 pm |

   @ LA,

   It’s the fear of a ‘lost decade’, lost to deflation in asset values, and the warping effects of QE/ZIRP (efforts to stimulate inflation and self-sustaining growth).

   In other words an economy on largely on life support, dominated by zombie corporations. No growth, no inflation, so no wiping away of housing debts or growth for domestic investments, hence manic off-shoring of investment (providing the funds for the Yen carry trade, which as Max predicted would destabilise high yield economies like Iceland).

7. MiniMax | September 20, 2009 at 5:42 pm |

   He admited that all economists do more harm than good by standing in the way of natural market forces. And he is one of them, for sure. These guys do not realize that being a good economist also includes deep knowledge of geopolitics, history and most of all – common sense. It is quite possible that this guy has created his own academic bubble of self-importance like many before him. Nationalizing as solution? And who will be nationalizing – the government who is in bed with banking cabal? Joke.

8. LA | September 20, 2009 at 1:19 pm |

   (1) Max – what about doing these interviews every day…

   (2) JAPAN – don’t understand the implications of the comparison and i don’t think others will either. we talk as if Japan has been this wasteland for the last 20years. it has not – ever been there? the consequences of debt are not clear if we use Japan as an example…

9. Mep | September 20, 2009 at 12:21 pm |

   Here’s more Steve Keen on the bailouts:

   http://www.nakedcapitalism.com/2009/09/guest-post-steve-keen-out-thinks-larry-summers.html

10. harry_w | September 20, 2009 at 11:48 am |

    Keen has proven to have been a brilliant analyst, always worth listening to.

    He’s quite right about Fisher drawing all the wrong conclusions from the 1929 crash.

    I loved his ending, it suggests he not just an economist but a citizen.

11. Phil Thomas | September 20, 2009 at 10:19 am |

    Steve Keen: A great interview, but too short. What has Keen written which is accessible to the intelligent non-economist? I want more!

    Thanks.

    Phil Thomas

12. stacyherbert | September 20, 2009 at 9:52 am |

    @Duke Jocic – Schiff is in the deflationary camp now, he says – if measured in gold.

13. Duke Jocic | September 20, 2009 at 9:47 am |

    Max And Stacy thanks for having Keen on the show and getting on the side of the DEFLATIONARY camp. We’ve all been tricked into thinking hyperinflation would eat us and it’s now seeming like it’s going to be the other way around. Now if only you can convince Peter Schiff of that. Maybe?

14. Mike/Liverpool | September 20, 2009 at 8:48 am |

    halfwit!
    Its Geo-polical
    Mike

15. rich | September 20, 2009 at 7:55 am |

    Yes.