Steve Keen is a ‘renegade economist’ who has been debunking classical economic theory for decades. Steve argues that ever-rising levels of private debt are unsustainable in the face of rising interest rates, but that the US Federal Reserve will continue to raise them anyway until the credit cycle implodes – at which point the Fed will turn about and inevitably return to stimulative policies. The economist maintains that until the level of private debt is addressed, the Fed will remain intellectually locked in a neverending cycle of massive asset bubbles and extraordinary busts. Here is a direct video link.
Here he explains why piling on of debt in Canada, Australia, China and South Korea after the 2008 crisis have made these countries likely epicenters of coming financial crisis.
Here is a direct video link.
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