Steve Keen's Debtwatch

As noted in Announcing the Center for Economic Stability AGM, the first Annual General Meeting of the Centre for Economic Stability Incorporated will be held on Wednesday September 7th at 6-9pm at the Sydney Mechanics School of Arts, 280 Pitt Street Sydney, Australia, from 6-9pm.

I need to have some idea of numbers for catering and …

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Reality came to Reality TV in Australia last week, when 3 of the 4 properties in the much-hyped “Flip that House” program The Block failed to sell at their nationally televised auction. A 400 person live audience, watched by over 3 million TV viewers, couldn’t entice more than …

The CAPM and EMH stick to the neoclassical script of believing that the economy and finance markets are stable, at or near equilibrium, and on this basis argue that “you can’t beat the market”. But there is an alternative view, far more aligned with the actual data, that says that markets are chaotic, far …

The Center for Economic Stability Incorporated was first formed in March 2010, with the initial aim of supporting the Keen Walk to Kosciuszko (which took place in April 2010). That venture was extremely successful, but it took place at a time when–certainly in Australia–there was optimism that the  economic and financial crisis that began in 2007/08 was …

I was highly critical of Paul Krugman’s recent academic paper on the financial crisis, because it argued, on neoclassical a priori grounds, that:
Ignoring the foreign component, or looking at the world as a whole, the overall level of debt makes no difference to aggregate net worth — one person’s liability is another person’s asset. (p. 3)
Given that criticism, I feel …