I think this is scarily accurate - you can not live on credit forever no matter what the debt free government may say (as all the debt is held by consumers!) I am please i have chosen to save/invest and not purchase a house in the lat few years even though I have the money.
It will be interesting to see what happens in the next 18 months. I would suggest a house price crash in Australia by July 2009!
Will Debt Drive Us to Depression? | BTalk Australia
By Phil Dobbie | October 13, 2008
BNET Australia Contributors
Aussie Rules
Biography
BNET Australia Contributors
Brian Haverty is editorial director for CBS Interactive Australia and is responsible for the company's BNET and ZDNet Australia sites.
Robert Gerrish is a coach, author and professional speaker and the founder of Flying Solo, an Australian online community for solo business owners.
Melissa Lourenco is the HR manager for CBS Interactive in Australia.
Chris Golis is the author of The Humm Handbook: Lifting Your Level of Emotional Intelligence. He runs seminars and workshops on EQ.
Suzi Dafnis is Community Director of the Australian Businesswomen's Network.
Yvonne Adele helps organisations build a culture of ideas by teaching people at all levels to access their untapped creative thinking skills.
Loading...
(11min 39) Prof Steve Keen believes that neo-classical economic theory has caused the world to repeat the debt problem that led to the Great Depression, except now we have twice the level of debt.
On today’s BTalk Australia he tells Phil Dobbie that bail outs, nationalisations and interest rate drops are not enough to end the crisis. So, is there anything we can do to rescue the economy?
Read Steve Keen’s Oz Debtwatch at www.debtdeflation.com.
Has Steve Keen got it right? Add your comments to the Talkback section at the bottom of this post.
See also: Where Did We Go Wrong | BTalk Australia
More from “Aussie Rules”
Talkback 2 Talkbacks
RE: Will Debt Drive Us to Depression? | BTalk Australia
The_Mainlander
10/13/2008 08:04 PM
RE: Will Debt Drive Us to Depression? | BTalk Australia
Neo classical economics, neo liberal
economics, ideologically we have been set up to
expect things that cannot possibly be sustained
on any level. Couple this financial turbulence
with the limitations of our environment in the
face of consumer demand, and we can't help but
feel that we're heading for depression -
economic and personal.
economics, ideologically we have been set up to
expect things that cannot possibly be sustained
on any level. Couple this financial turbulence
with the limitations of our environment in the
face of consumer demand, and we can't help but
feel that we're heading for depression -
economic and personal.
fkotsiaris
10/14/2008 05:11 PM
