by Summary:
Mastering Financial Success: Tackling Debt
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Mastering Financial Success: Tackling Debt
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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| Mastering Financial Success: Tackling Debt |
What do you think about this? Responding to the best comments.
can financial stability and financial downturn (pertaining to a cycle) co exist?
Maybe we can see both being the same.
When it is a common cycle, it can be seen as stability, but not as a very fixed level but as a range which requires a degree of tolerance to work.
Like eg. shock absorbers in a car which cause stability by allowing some tolerance of movement.
How do we know that 30-70% of private debt is enough? And how does it relate to public debt?
And how does it relate to the desire to save money, which is practically extracting money from the economy, while at the same time the debtors, who inhected it into the economy, expect it to return to them in order to repay their debt?
The 30-70% is good because it gave good growth after the 2nd world war.
@@webfreakz where? We did have very different economies after WW2. On the one side the USA which did not suffer from destruction and on the other side destroyed countries like Germany.
Then another source of growth was the technological gap between the USA and others which could be closed with "small" investments since you did only need to copy rather than to develop costly.
I do expect more an economic explanation rather than some fitting random data from history.
@@ThomasVWorm There was extra economic growth for both the US and Germany after WWII as they both had low levels of private debt. In Germany even because of a debt cancellation, Prof Hudson has talked about this. Prof Werner has talked about the benefits of a larger distributed banking system which also benefited Germany and was later implemented in China.