Priceless commentary by Downey at the end. Listen, laugh and weep all at once.
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Dr. Steve Keen
@ProfSteveKeen
Help me build a new economics by supporting me on either Patreon or Substack. Debunking Economics, Minsky.
Dr. Steve Keen’s posts
The Dead Parrot of Mainstream Economics
Oh David! . They say only the good die young, but why did you have to be one of them?
There's even more bullshit in the world now that you are no longer with us.
It was a pleasure to know you, and it is a tragedy to say goodbye.
Europe has tried to financially carpet-bomb Greece into submission Yet it offers no alternative vision gu.com/p/4ac8t/stw
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DEBT IS MONEY WE OWE TO BANKS
DEBT IS MONEY WE OWE TO BANKS
DEBT IS MONEY WE OWE TO BANKS
...
I am a scientist and tipping points that may lead to runaway global warming keep me awake at night –Professor Tim Lenton scotsman.com/news/opinion/c #climatechange
Renowned economists Michael Hudson & Thomas Piketty meet on the anniversary of Graeber’s death to debate the most serious problems facing today’s finance-capital economies - and what to do. thersa.org/events/2021/09
I've spent 40 years dealing with Neoclassical economists. They sincerely believe they're doing good, which is why they're so dangerous
And thar she blows: 100,000 followers in just under 12 years of tweeting. Thanks for the ride
The world’s 1st octopus farm would cram a MILLION of these smart and sensitive creatures into tiny tanks before painfully freezing them to death – but a massive public outcry can help stop it. Sign and share now! #BanOctopusFarming
Thank you for emphasising Yaneer's point.
Economists Are Vastly Underestimating the Economic Impact of Climate Change discovermagazine.com/planet-earth/e
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It's screamingly obvious in the data. Before Thatcher deregulated lending for housing, private debt rarely exceeded 60% of GDP in the UK. After then, it tripled, driving house prices up in the process
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Maybe we should rename it the GoHome! Office. Catches their disposition more accurately. I just copped a minor instance: refusing tourist visa to my Dutch-resident Thai-national partner to attend Wimbledon with me.
This is something a lot of non-Americans know (including complicity of the US in the "palace coup" against Australia's Labor Government in 1973), which is why we find it laughable when Americans talk of democracy and "freedom"
Lex Fridman interviews me about economics, the universe, and everything, for three and a half hours
profstevekeen.substack.com/p/lex-fridman-
When assholes think we're assholes mate, we've got to be doing something right!
If you draw a bullet in Russian Roulette you're 100% dead. According to rational expectations & subjective probability you're only 17% dead
'The Euro is a suicide pact' Economist Prof. Steve Keen on Brexit & European Central Bank ending QE patreon.com/posts/euro-is-
The Australian electricity market has always been a disaster waiting to happen. And happen again. And again, as this skit from Clarke (deceased in 2017) & Dawe illustrates brilliantly. Renationalize it!
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It was and is a sign of applying household logic to a national economy & being ignorant of how money is created bankofengland.co.uk/publications/D
How to test an N95 mask: wear it while your girlfriend eats #Durian. It's prefect: can't smell a thing!
You get your friends to say you're brave and humane, that's what. And you're both and much more.
This is an extremely well written and illustrated article explaining the dangers of tripping climate tipping points. Economists are clueless about these processes and yet we've taken their advice over that of scientists.
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“If we’re right about the tipping points, they’re not marginal,” Lenton tells Grist. “They’re existential risks.” grist.org/climate-tippin
Rise & fall of debt & credit over last decade. Visual prepared for my next book due out in April 2017
Political scientists know they have an ideology. Economists think they don't. That's why they are so dangerous.
The appallingly bad neoclassical economics of climate change. Open Access in . patreon.com/posts/appallin
The Minsky Models of Modern Monetary Theory #TMMOMMT #MMT patreon.com/posts/minsky-m Free access, no paywall. Models attached.
. wins the inaugural #NotTheNobel Prize. Congratulations for this, and for your ideas. Here's to building a relevant, realistic economics.
The Bank of England is handing out billions in new public money to Britain's biggest businesses in secret, via the Covid Corporate Financing Facility. This is public money - we deserve to know where it's being spent!
Wasn’t that the problem in the first place? 😎
Labour party manifesto pledges to end tuition fees and nationalise railways theguardian.com/politics/2017/. Suddenly this election has legs!
Why every Australian needs to be given $7,780 NOW to save the economy mol.im/a/8093719 via . Enough to cover rents, mortgages and food during two to three months isolation.
It's tragic that something as awful as #AustraliaFires was required to produce something this beautiful.
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Yes. Wish people would think this one through. If could do £200 billion of #QE in one year, where did that money come from?
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May: "there isn't a magic money tree" - but there was one for bailing out the banks? twitter.com/JamesMelville/
Why Michael Hudson is the World's Best Economist
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So it's not a conspiracy theory, but a conspiracy plan...
I've done it. Please join me.
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Last day to help nominate Julian #Assange for the #NobelPeacePrize
Encourage someone who meets the Nobel Committee’s criteria to submit a formal nomination
#NobelPeacePrize4Assange
#FreeAssangeNOW #DropTheCharges twitter.com/DefenseAssange…
Financial models on climate risk ‘implausible’, say actuaries ft.com/content/a50273. Just where these implausible numbers came from is the topic of a report I've written for which will hopefully be published this month.
Powerful stuff! It's dangerous to attribute sincerity in today's world, but this feels sincere. And with the promise of more such testimonies to come, this could be a fascinating few months.
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Honestly, I despair of you lot.
Bundesbank on the left, Bank of England on the right.
bundesbank.de/resource/blob/
bankofengland.co.uk/quarterly-bull
Silicon Valley Bank: The Fed’s Role in its Downfall
profstevekeen.substack.com/p/silicon-vall #SiliconValleyBank
It's viable & would stimulate the economy
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@ProfSteveKeen US Green Party proposal to cancel student debt via QE. Thoughts? youtu.be/TzwZtmTEMuw
The schizophrenic understanding of money in economics
My paper "The Dead Parrot of Mainstream Economics", about why "The Money Multiplier" is a myth, and why Neoclassical economists like keep spouting it, is now available in the Real World Economics Review paecon.net/PAEReview/inde. With apologies to
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I've had nowhere near as bad but similar experiences with them. Let's call it what it is now: The GoHome! Office.
I couln't give a shit about your property portfolio Kook, or anybody else's. My point always was that basing a country's macroeconomic future on a housing bubble was stupid, and that point remains. Which is why Australia's reserve interest rate is at 0.75% and falling.
Nobel prize-winning economics of climate change is misleading and dangerous – here's why via The Conversation UK theconversation.com/nobel-prize-wi
'4°C of global warming is optimal' – even Nobel Prize winners are getting things catastrophically wrong theconversation.com/4-c-of-global- via
We're racing towards another private debt crisis - so why did no one see it coming? newstatesman.com/politics/econo. Top stuff by
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I'm an agnostic and so was David . But if he's doing anything at all right now, it's an anthropological study of Heaven. Preceded by a brief study of Hell, but just for comparative reasons. The Devil was sad to see him go.
The era of cheap money shows that no one knows how monetary policy works bloomberg.com/news/articles/ via
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Since this tweet has blown up, here's a link to my refereed paper "The Appallingly Bad Neoclassical Economics of Climate Change", which is why I know that Elon is wrong here: aph.gov.au/DocumentStore.
Very incisive: how innovation dies when sales & marketing overtake product development. I've seen it in computer software and universities twitter.com/ow/status/7922
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These guys think economists know what they are talking about on climate change. They don't. They're seriously deluded.
"Just take the past half-century. Keynesianism prevailed in the post-war era. In the 1970s, that was overtaken by monetarism: the idea that only the supply of money was important. That resulted in governments backing away from economic management, leaving central banks to rule… Show more
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Dining with Michael Hudson and his wife Grace in Queens, New York. Kimchi, politics, Debt Jubilees and psychotherapy were on the menu.
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Let's see the politicians of the EU try to understand this They've never got that you're one of us, not one of them.
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Yes, let's blow #ScottyFromMarketing's little gambit out of the water. He tries to deregister parties with less than 500 members, by upping the limit to 1500? Then let's get 5000 members and see what his next move is! Sign up at thenewliberals.net.au/how-to-join/
. covers my Senate candidacy for @The_NewLiberals . Vote #TNL to put citizens not politicians into Parliament, advised by experts not ideologues twitter.com/edwardnh/statu
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This is capitalism with guts, Esther then the gutless capitalism that passes the risk of a bad night's takings onto its employees. Bravo.
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Amen! It's a statistical miracle: how to disguise unemployment and blame the unemployed for it at the same time. twitter.com/PhilipSoos/sta
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Minsky moment: are pension assets at risk due to flawed climate analysis?
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Friends who can't cope with irony should get lost.
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Who in #TheShire wants the responsibility and pleasure of helping #ScottyFromMarketing join John Howard and as a Prime "I don't hold a hose mate" Minister defeated in his own electorate? Please contact Victor & @The_NewLiberals
Can all my followers PLEASE follow , who has been detained by the military in Burma? He is a saint of a man, one of the most generous, humble, selfless people I have ever known.
Maybe a large increase in his following will help motivate his release. Please Retweet.
"PM won't be tested despite Peter Dutton's coronavirus diagnosis" you are a fucking idiot. You now risk infecting the Cabinet AND your family. For fuck's same resign smh.com.au/politics/feder via
One of the bounties of living in a country that took #COVID19 seriously. Flying to Bangkok, with zero chance of getting infected. Nonetheless, everyone wears masks: no mask, no entry.
This is ridiculous. Life imitating art—or broadcasters imitating a satire. Do watch the whole video.
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A reminder of this gem from a year ago. 60,000 people died from the extreme heatwave across Europe #DontLookUp forbes.com/sites/darreonn
Pre-press of my Globalizations paper on economists and climate fraud patreon.com/posts/pre-pres
Steve Keen announces Senate run - MacroBusiness
Ageing disgracefully: Japan puts our nursing homes to shame smh.com.au/national/agein "Imagine if children were abused on this scale; the horror, the outrage. Why is it different because the vulnerable people are old, not young?"
Neoliberalism Was Supposed to Make Us Richer: Three Reasons Why It Didn’t
Most American's don't even know the true definition of Socialism...
OK, this wins my "You can't make this stuff up" award for 2017. Which is something, given the competition from
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A Neo Nazi is upset at the messages he is receiving and says 'I don't understand how people can hate someone they've never met'
twitter.com/time/status/89
twitter.com/time/status/89When are critics going to acknowledge that Jeremy Corbyn has the balls to be a worthy PM, ?
"The Economist Has No Clothes". An oldie (2008) but a goodie, and even more relevant today than in 2008 scientificamerican.com/article/the-ec via
I’m so angry at government. I’m lined up at a Covid testing clinic, because they’ve privatised testing for overseas travel. East Timorese family ahead of me faces $720 bill. Cruelty built on stupidity. Vote keenforthesenate.com & kick them out
