Steve Keen’s Debt Watch

Banking Sector: The Real Problem?

The good folks at Applied MMT will join in on this weeks livestream to show of the new MESSSI (Macro Economic System State Simulator). This also mark the start of the Third season of Real-Time with Steve Keen & Friends. Yeah... Economics was wrong, and its time for that truth to be known, but its about to be a whole lot better, watch this stream to find out why. You can fined out more on Applied MMT here: https://appliedmmt.com/

Childish Economics Must End!

Credit Drives Economic Performance, Not Beliefs.

Quantitative easing is often hailed as a necessary tool for economic recovery. But let’s take a closer look. It’s like giving a lifeline to a drowning swimmer while ignoring the fact that he’s swimming in a pool of sharks. The wealthy, who own the majority of shares, are the ones benefiting from rising stock prices. Meanwhile, the average person is left treading water, gasping for air. This isn’t just a minor inconvenience; it’s a widening chasm of...

The Great Depression: Can It Happen Again?

Economic stability is often viewed as a distant goal. Many believe that simply managing government debt will suffice. This is a dangerous misconception. Ignoring private debt levels is like ignoring a ticking time bomb. When households are over-leveraged, they can’t spend. This leads to reduced demand, which spirals into economic downturns. The Great Depression is a prime example. As private debt soared, spending plummeted. The more people tried to pay off their debts,...

Naive Economics for Kindergarten Kids

Climate change is often dismissed as a minor inconvenience. The belief that it will only cause a 1.4% drop in GDP is laughable. This figure is based on models that ignore tipping points. Tipping points are like the moment a dam breaks. A small crack can lead to catastrophic failure. When climate models fail to account for these tipping points, they underestimate the damage. Real-world impacts will be far more severe. Imagine a factory that relies on stable weather patterns....

Neoclassical Myths Exposed