10 March 2009
Steve Keen interview
(18min 54) Professor Steve Keen says the Aussie economy has a long way to fall yet. The current situation is the work of neoclassical economists who didn’t understand the importance of controlling debt, which is now over $2 trillion. He points to the RBA, whose decision not to lower interest rates last week is a further indication that most experts fail to realise the significance of the downturn. Keen still believes we are heading for a Depression.