Steve Keen’s Debt Watch

Mainstream economics often overlooks energy's crucial role in production. It's like trying to bake a cake without considering the oven. You can mix all the ingredients, but without heat, nothing happens. This oversight leads to models that fail to address real-world issues, like climate change. Take the Neoclassical view that production is mainly about labor and capital. It's a bit like saying a car runs on just its wheels and chassis. Without fuel, the car won't move. Energy...

Debt Crisis Hits Us Again!

Engineers, Finance, and IT Pros: Learn 50+ years of Real Economics in only 7 Weeks. Weekly with me. Learn more: apply.stevekeenfree.com OR Join ~10,000 others in downloading my free 'Funny Money' Bundle (2 books, worth $60): new.stevekeenfree.com -- Who is Dr. Steve Keen? Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against...

Neoclassical economics is a cult, not a science. It clings to outdated models that ignore reality. We need an economics grounded in realism, not fantasy. Imagine a pilot flying a plane. He relies on a map from decades ago. That map shows mountains that no longer exist. He’s flying blind, and the passengers are terrified. This is what neoclassical economics does. It uses models that don’t reflect the world we live in. It’s like trying to navigate a city with a...

Ravel is a whole new way to analyse data. No coding needed, no obscure cell reference formulas, and no need for pivot tables. Here I show how Ravel can effortlessly analyze the relationship between household debt acceleration and house price changes, in just ten minutes! Ravel will streamline and dramatically accelerate your data analysis. It works with any type of data, from marketing sales data to scientific. Get Ravel from https://www.patreon.com/ravelation for a budget-friendly $7...

The Economics Cult Ignoring Reality.

Money is often dismissed as a mere tool. People think it doesn’t matter in the grand scheme of things. This belief is a dangerous fallacy. Money creation by banks is the lifeblood of economic growth. When banks lend money, they create new deposits. This process fuels spending, investment, and ultimately, growth. Ignoring private debt in economic models is like ignoring the engine in a car. Without it, the vehicle won't move. Mainstream economists, like Ben Bernanke,...

House Price Bubble About to Burst?

Climate change is often viewed as a distant threat. Many believe that economic growth will simply continue, unscathed. This is a dangerous misconception. Ignoring the reality of climate change is like ignoring a storm brewing on the horizon. It’s easy to think it won’t affect you until it’s too late. To mitigate climate change's economic impact, we need to act decisively. First, reducing private debt levels is crucial. High debt levels limit investment in...

"The tools that the Federal Reserve are using are fundamentally directed at reducing inflation—wage inflation, not markups. They don't really understand it because they've never read Kaleski. They're neoclassical economists. They think ... Milton Friedman is right, and fortunately, Milton Friedman was wrong." --- Join ~10,000 Other Truth-Seekers by Downloading my new 'Funny Money' Bundle for Free at https://new.stevekeenfree.com Are you an engineer, finance, or IT...