Credit Zombies and the Walking Dead of Debt
The Expert View
Featuring Steve Keen
Published on: February 5th, 2018 • Duration: 28 minutesSteve Keen is a ‘renegade economist’ who has been debunking classical economic theory for decades. Steve argues that ever-rising levels of private debt are unsustainable in the face of rising interest rates, but that the US Federal Reserve will continue to raise them anyway until the credit cycle implodes – at which point the Fed will turn about and inevitably return to stimulative policies. The economist maintains that until the level of private debt is addressed, the Fed will remain intellectually locked in a never-ending cycle of massive asset bubbles and extraordinary busts. Filmed January 23rd, 2018 in London.