article on keen's, and others, preditions on SMH. a mixed bag. http://www.smh.com.au/business/a-ke...how-our-forecasters-fared-20130104-2c8yt.html
If they mentioned what school of economic theory the people surveyed came from, this article may be worthwhile. I'd hazard a guess that at least 90% are Keynesian so the article is probably totally biased and therefore pointless.
Whilst I agree with Keen's overall basic economic modelling of debt, making predictions should have been left for the Nostradamis's of the world. He posted an interesting Youtube of Chris Martenson interviewing Steve Keen in June last year. Now, given Steve Keens understanding of debt and the fiat money machine, when asked right near the end of the interview by Chris Martenson what he thought was the best way to protect your capital to which Steve answered put it into cash. I think Chris was as gobsmacked as I was to that reply given i have also watched "Crash Course" and Chris makes it very clear on his view where fiat currency is heading. http://forums.silverstackers.com/to...haping-up-to-be-a-particularly-ugly-year.html One of the things I have learnt over the years, by all means read, investigate, research, but don't believe that any one person has it all correct. I have read Steve Keens articles for about 5 or 6 years, also have read and watched interviews with Kyle Bass - Chris Martenson - Gerald Celente - Nigel Farage - Butler - Sinclair - La Rouge just to name a few. There are so many variables that could impact our future, the way we live, it is pointless trying to pre-determine the cause and affect as no one knows. I have my own ideas and opinions the same as everyone else. My own opinion is I believe one cause which could instigate a global meltdown is the collapse of the Yen. Thats just one possibility. There are many others. At the end of it, if I have been able to gain some valuable insight into these guys even if I may not always agree with everything that they say then IMO it has been well worth it. IMO, we live in the most incredibly exciting times considering we are in unchartered waters. Scary? Yes. But also exciting. Cheers markcoinoz
Steve Keen is good, but he's still a Keynesian, so he's still consumed by fear of deflation, and that's all that he can see happening in the future. But I believe, like Peter Schiff, that at some stage the switch will flip over into hyper-inflation. Because the governments won't stop their deficits, therefore the central banks won't stop their debt monetisation, and eventually it will lead to hyper-inflation, like it has every single time in the past throughout history.
