Steve Keen says its a coming financial catastrophe as in covid, folks accumulated a yrs charges, without a yrs income.. its the first slump without a berm first

[Saving For a Space Ship]

Steve Keen  on a pod cast , as impressive as ever 

https://realprogressives.org/podcast_episode/episode-99-a-modern-debt-jubilee-with-steve-keen#fwdmspPlayer0

I paraphrase Steve Keen from this podcast  

Steve Keen says its a coming financial catastrophe as in covid, folks accumulated a yrs charges, without a yrs income.

He says its the first slump without a berm first

 

[The Spaniard]

Excellent strine.🤣

Hadn't seen 'berm' before.

[Tapori]

Excellent.

[highcontrast]

Berm?

[Biggus]

 

Berm?

He is saying there has not been an economic boom before the downturn. Which is true if you ignore stocks, housing,education and bonds.

[Si1]

https://youtu.be/960UNEiOdTo

 

 

Berm?

 

 

 

Edited December 20, 2020 by Si1

[GregBowman]

 

He is saying there has not been an economic boom before the downturn. Which is true if you ignore stocks, housing,education and bonds.

+ Furlough money with no commuting costs, BBL and not going on holiday - I would say at a macro level probably not but at an individual level many have had the best year of their recent lives financially 

[byron78]

He's right.

There was a boom for a lot of us though. Probably not anyone below the top 10% mind.

Don't worry (deep breathe)... I'm sure it'll trickle down eventually...

Edited December 21, 2020 by byron78