Get ready for an Australian recession by 2017

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For the last 25 years, Aus­tralian politi­cians of both Lib­er­al and Labor hue have been able to brag that, under their stew­ard­ship, Aus­tralia has avoid­ed a reces­sion. Those brag­ging rights are about to come to an end. Dur­ing the life of the next Par­lia­ment — and prob­a­bly by 2017 — Aus­tralia will fall into a pro­longed reces­sion.

Click here to read the rest of this post, and here to down­load the Excel file show­ing the link between a slow­down in the rate of growth of debt and a reces­sion.

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About Steve Keen

I am Professor of Economics and Head of Economics, History and Politics at Kingston University London, and a long time critic of conventional economic thought. As well as attacking mainstream thought in Debunking Economics, I am also developing an alternative dynamic approach to economic modelling. The key issue I am tackling here is the prospect for a debt-deflation on the back of the enormous private debts accumulated globally, and our very low rate of inflation.