Thursday, Feb 05, 2015

Housing simply isn't the real economy - video

Guardian: Another economic crash is coming. How did this happen? (Video)

''David Cameron says a second financial crash is imminent. If he's right, it's because the government bailed out the wrong industry, argues Renegade Economist host Ross Ashcroft. He says the last recession was brought on by too much debt. Today private debt is at the greatest level in recorded human history. By ignoring this and instead focusing on the banks, we are heading for economic armageddon.''

Posted by hpwatcher @ 02:26 PM (3184 views)
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1. Kevin said...

This guy is spot on in my opinion :) and I hope all those investors who are snapping up all the properties for future investments fail big
time, Give the small person the chance to own there own home to live in and enjoy life at an affordable price :)

Friday, February 6, 2015 09:36AM Report Comment

2. reticent said...

Good video.

Is Steve Keen really still the foremost authority on private debt? Didn't he lose his job?

I have seen and heard much more respected economists draw attention to private debt levels. "Head of Economics at the University of Kingston" doesn't exactly spell academic accreditation.

Friday, February 6, 2015 12:35PM Report Comment

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