At a dinner party last weekend, conversation turned to the 2008 recession and where we are today. When I mentioned the world was in worse shape financially now than in 2008, a couple of the guests asked how I could say that. I replied they would have to look at the data. Economist Steve Keen does precisely that in this recent 30 minute presentation at the European Parliament.
If we can stay focused long enough to follow the pea here, we can see where the financial system and dependent economy are likely to head next (expecially at the 20 minute mark and beyond).
Private debt in the economy today is the highest of any time ever, and that says much about our future economic prospects. Steve Keen explains in this talk. Here is a direct video link.
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