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US Debt Crisis Explained 2021

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US Debt Crisis Explained 2021

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Steve Keen considers the following as important:

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US Debt Crisis Explained 2021
Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

5 comments

  1. What 😮

  2. This is a joke right 👍

  3. So regarding public debt, I always think, it will only become a problem if you make a problem out of it, which was what was happening in the Eurozone. There was no public debt problem until politicians started to worry about it and started with self defeating policies. Greece did not suffer from public debt – it suffered from the cure.

    So regarding the US deficit, I think, the numbers are less important than what the money was used for. Stephanie Kelton once said, it does not matter how much the government spends but where or how it spends.

    Debt and money are just bookkeeping and totally meaningless, if we do not look upon, what they are all about.

  4. It's a distribution problem.

  5. @davidwilkie9551

    You can't prove a negative, and it's very difficult to separate negative from positive in the contained chaos of actual cause-effect unity-connection categorization/identification of the functions of allocated chunks of such a mono-dualistic phantasm as money. Not much truth to trust in Labelling.

    If financial bubbles are subject to oscillate +/- beyond the levels a reasonable Quant ability can calculate, why? Why? Why? Destabilize Civilization to fight over extremely poorly allocated misrepresentation-by-default Armaments and the Forever War.

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