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Rebel Economics with Dr. Steve KeenLearn 50 Years of Economics in 10 mins a day. Go watch my most popular economic lesson here: go.stevekeen.com Author: Dr. Steve Keen
Learn 50 Years of Economics in 10 mins a day. Go watch my most popular economic lesson here: go.stevekeen.com --- Join Dr. Steve Keen as he shows you how he predicted the 2008 Financial Crisis YEARS before it happened. Welcome to Rebel Economics with Dr. Steve Keen, hosted by the distinguished economist, author, and professor known for his critical perspectives on mainstream economics. In this podcast, Dr. Keen dives deep into the world of economics, debunking traditional theories and offering insights into how economies actually work. You'll explore topics ranging from debt dynamics to environmental sustainability and the pitfalls of economic orthodoxy. Join Dr. Keen as he navigates the complex terrain from theoretical economics to practical solutions, armed with his decades of research and a relentless pursuit of economic justice. Whether you're an economics student, a professional in the field, or simply curious about the economic forces that shape our world, Rebel Economics with Dr. Steve Keen is your gateway to understanding economics beyond the mainstream. Language: en Genres: Business, Investing, Mathematics, Science Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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“Why the US economy hasn’t crashed yet?” Top Economist warns
Episode 87
Saturday, 15 November, 2025
Learn 50+ Years of Economics in Only 7 Weeks, by applying here: https://www.stevekeen.com(Plus get Ravel — the economic visualization software used in this video — as a bonus if you’re accepted and join.)Top Economist Steve Keen explains how U.S. government policies are driving the economy toward bankruptcy and why the true fix isn’t austerity, but a Modern Debt Jubilee. Using clear double-entry accounting and Ravel visualizations, Steve breaks down how private bank lending still creates most of the money in circulation, why government deficits actually generate deposits and reserves, and how open-market operations merely shuffle assets rather than create real wealth. He then shows how a Modern Debt Jubilee could reset the system cancelling unpayable debts, restoring balance sheets, and reviving real economic growth without the illusion of “printing money.”In this breakdown, you’ll discover:✅ Cash vs digital money: why the press in DC is a sideshow✅ Government spending and taxes in the ledger: deposits up, taxes down — what really changes✅ Reserves 101: what banks can and can’t do with them (and why they aren’t “spendable” money)✅ Deficit mechanics: why deficits create both money and reserves, surpluses destroy them✅ The eight entries you need to model government money creation (beyond simple double entry)✅ Why “borrowed from the private sector” is an accounting myth in loanable-funds models✅ How OMOs and QE actually work: when they create money, when they don’t✅ The data picture: since 2000, most new money has been credit-backed (private), not fiscal✅ Why government negative financial equity is normal — and necessary for private net financial assetsKey insights:• Deficit is not a bug — it’s the feature that creates net financial assets for the private sector.• Reserves are bank-to-central-bank balances; they support payments and bond settlement, not your latte.• Open-market operations with non-banks can create money; purchases from banks swap assets inside the banking system.• Loanable-funds thinking explodes government debt in theory because it excludes money creation in the first place.• Accounting done properly shows government negative financial equity mirrors private positive equity.-----What did you think of the eight-entry walkthrough and the OMO/QE distinctions? Share your thoughts below.Subscribe for reality-based economicsLike if this clarified how deficits, reserves, and QE actually workShare to help others move beyond textbook myths-----Who is Dr. Steve Keen?Dr. Steve Keen is an economist known for accounting-consistent, data-driven models that explain how bank money, private debt, and policy operations shape the real economy. Creator of the Minsky and Ravel tools, he replaces classroom analogies with operational mechanics — essential for engineers, finance professionals, and anyone who wants clarity over ideology.Learn 50+ Years of Economics in Only 7 Weeks, by applying here: https://www.stevekeen.com(Plus get Ravel — the software used in this video — as a bonus if you’re accepted and join.)#usshutdown #usdebtcrisis #useconomy #BankingSystem #QE #economics #money #Macroeconomics #usgovernment
