Macro Voices Discussion Forum

facebook bannerThe MacroVoices Discussion Forum has Moved to Facebook and Twitter

The MacroVoices discussion forum has been moved to Facebook and Twitter. For your convenience you can view the most recent activity on both below however for the best user experience please use the links below to navigate to the social media venue of your choice.

MacroVoices Facebook Link:

MacroVoices Twitter Link:

Welcome, Guest
Username: Password: Remember me
Welcome to the Macro Voices Podcast Forum!

Post you comments and questions about specific podcasts here.

TOPIC: DISCUSSION THREAD: Episode 42 - Prof. Steve Keen

DISCUSSION THREAD: Episode 42 - Prof. Steve Keen 1 year 2 months ago #1

  • amkc
  • amkc's Avatar
  • Offline
  • Junior Boarder
  • Posts: 25
  • Thank you received: 5
  • Karma: 3
Great to have Professor Keen back to close out the year. His idea on a debt jubilee is compelling, especially as the range of outcomes expand during increasingly volatile times.
The administrator has disabled public write access.

DISCUSSION THREAD: Episode 42 - Prof. Steve Keen 1 year 2 months ago #2

  • Michael Gebhart
    Michael Gebhart
  • Michael Gebhart's Avatar
  • Offline
  • Junior Boarder
  • Posts: 37
  • Thank you received: 2
  • Karma: 2
Didn't listen to much of the interview with Keen because I've already heard him quite a bit over the last four and a half years on RT TV. The problem with the debt jubilee idea that Post-Keynesians like him push is that they ignore the other side of the equation, being the debt is someone else's income. If you simply whisk it away it will destroy certain groups of people such as pensioners who are invested in it. It makes sense to restructure malinvested debt but how is the government capable of doing that?

Also the guy pushes the BOE idea of one hundred percent endogenous money which assumes banks create money and look for reserve later and don't have to worry about inter-bank reserve redemptions. Banks create deposits, to a point yes, but they create them with instantly redeemable claims on reserves. If they are at meeting redemption requirements by other bank clearings then they can't create any more money.

There is some merit to his assertion that credit contraction is an indicator of recession but his assertions as to why are backwards.
Last Edit: 1 year 2 months ago by Michael Gebhart.
The administrator has disabled public write access.

DISCUSSION THREAD: Episode 42 - Prof. Steve Keen 1 year 2 months ago #3

  • john
  • john's Avatar
  • Offline
  • Fresh Boarder
  • Posts: 1
  • Karma: 0
Excellent interview with Steve Keen. I first noticed him 10 years ago when he was interviewed on TV by the Australian national broadcaster (ABC) standing on his soap box screaming about the mathematical certainty of a financial crisis. Nobody was listening because things were booming. The great shame for Australia is that he was not really appreciated here. Kingston get the gold in my book for giving him a position.

Although many dismiss the debt jubilee, I have not heard anyone able to take down his proposal in a one on one debate. I hope he does tell us if he "gets the call".
Last Edit: 1 year 2 months ago by john. Reason: typo
The administrator has disabled public write access.
Moderators: ErikTownsend
Time to create page: 0.149 seconds

MACRO VOICES is presented for informational and entertainment purposes only. The information presented in MACRO VOICES should NOT be construed as investment advice. Always consult a licensed investment professional before making important investment decisions. The opinions expressed on MACRO VOICES are those of the participants. MACRO VOICES, its producers, and hosts Erik Townsend and Nathan Egger shall NOT be liable for losses resulting from investment decisions based on information or viewpoints presented on MACRO VOICES.

Go to top