[KR112] Keiser Report: with Steve Keen

Discussion in 'Markets & Economies' started by leo25, Jan 14, 2011.

  1. leo25

    leo25 Well-Known Member Silver Stacker

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    Steve Keen talks about Australia. This interview starts 13 minutes in.

    [youtube]http://www.youtube.com/watch?v=NIucD-tX2_E[/youtube]
     
  2. Agauholic

    Agauholic New Member

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    Keen's 1 sharp nut
     
  3. dccpa

    dccpa Active Member

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    Thanks for the video. Keen is very sharp and it seems like his views echo what a lot of poster on SS have been saying.
     
  4. boston

    boston Active Member Silver Stacker

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    Yes. He copies us. :D
     
  5. adrenalin

    adrenalin New Member

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    maybe he is a lurker
     
  6. Mark

    Mark New Member

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    You wouldn't know who lurks here
     
  7. Agauholic

    Agauholic New Member

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    Mark Keiser?
     
  8. Guest

    Guest Guest

    I've spoken with Steve a couple times actually on the housing situation in Australia. He's copped a lot of critsism here at home for his view on the market as no one likes a party pooper, but it remains to be said that of all the mainstream economists in Australia, Steve was one of the ONLY locals to predict the GFC.

    It's very interesting to note the impact of personal bias when presented with information and data. Steve is an established economics professor with certifications, qualifications and experience to the wazoo, yet some dickhead loudmouth for the property industry is consistently given creedence and support by the mainstream media in this country for spruiking up the gravy train.

    Look at the long running battle of words between Steve Keen and Chris Joye. It's a total farce, yet the mainstream media were so eager to dismiss Steve's warnings an raise Chris on a pedastal it was an absolute joke.

    As I've said before, I've had a few really good discussions with Steve on the Australian Housing Market and economy and we definitely have a lot in common on our assessment of the overall situation. Now that the Australian government is stepping back from the market and no longer propping it up like mad, we're already seeing the market turn and I think the culmination of a slowing market and the events of QLD starting to unfold will have a dramatic impact on the market over the next 12-18 months.

    The biggest problem with the study of economic theory is the fact it's all based on historical data, combined with established outcomes. Much of the 'prediction' in mainstream economics goes out the window once artificial manipulation enters the picture and this is where much of Steve's 'doom and gloom' predictions have gone awry in recent times. The continual insistence of the Australian government to manipulate markets with tax payer dollars for certain segmental groups has left us terribly exposed and will ensure that when natural market forces reassert themselves, they will over shoot what should have been a sharp (but much needed) correction.

    Many of you will recall the advice of former Australian Prime Minister Paul Keating when he stated during the last recession that 'This was the Recession we had to have'. This is simple economics 101 and the very nature of our economy is a boom and bust cycle. The nature of recession is simply to wash out bad debt & business practise which in turn lays the foundation for the next boom run.

    The biggest misnomer of the Australian populace is that they're stupid enough to believe the popularist politicians in assuming that a perpetual boom state in economics is not only possible, but healthy as well.

    Steve, Max, Mark Faber, Gerald Celente and other 'doom and gloomers' out there as simply stating the damn obvious in that we're living under a fallacy of economic theory and that this period of Keynesian economics is absolutely disasterous to all involved when natural market forces reassert themselves.

    This is why I guess I find it so ironic I get into so many debates here with people who are willing to listen to the reason and logic of Steve, Max and Gerald and make sense of the arguement, but dismiss the points as rhetoric when they have to apply the same logic to investments closer to home.

    Thanks for posting up the link btw. I always enjoy listening to Max and Stacy, I have a real affinity for their ideology and views of the world. Max's character in many respects is quite similar to my own. ;)
     

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