Steve Keen — We Need a Private Debt Jubilee

Published on
June 19th, 2020
59 minutes

A Sleeping Giant: Opportunity in Fannie Mae

Steve Keen — We Need a Private Debt Jubilee

The Interview ·
Featuring Steve Keen

Published on: June 19th, 2020 • Duration: 59 minutes

In these unprecedented times of economic stress, the mainstream playbook has been tossed out the window as fiscal and monetary authorities continue to throw everything but the kitchen sink at the problem of synchronized global economic downturn. In this interview with Ed Harrison, heterodox economist Steve Keen argues that, although some of these policies are headed in the right direction, many are completely missing the core issue – ungodly levels of private sector debt. Together, Keen and Harrison discuss common misconceptions about private debt, MMT, and the circumstances where ballooning public debt led to hyperinflation. They also break down Keen's argument that the exogenous nature of the COVID crisis might improve the palatability of a much-needed private debt jubilee. Filmed on June 16, 2020.