asterisk2a + eea + merkel   3

Steve Keen: Avoid the next financial crisis with People’s QE and a debt jubilee - YouTube
Steve Keen [...] service led economy *uk is bad/not sustainable can not go on forever. [...] Osborne plan could have worked if he would have not cut that much and more invested in skills (higher skills, better jobs, better income, more tax rev, debt can be served more leisurely). ... QE bonkers.bc it includes trickle down via 20% who own reflated assets. trickle down dos not work. [...] no wealth effect from shares. [...] prices in london might not have peaked bc of foreign demand! rest of uk, chinese down want to buy! [...] QE for people is partial debt jubilee bc people could use to spend or use to serve debt. [...] retail banks dont lend to entrepreneur bc of math! thus you need national investment bank! or change banking landscape. Germany has national investment bank. //&! - EU status quo can not work long-term. //&! detailed presentation -
Steve  Keen  Brexit  EEA  Austerity  Fiscal  Pact  Schuldenbremse  immigration  Freedom  of  Movement  monetary  union  Germany  Wolfgang  Schäuble  Angela  Merkel  refugee  crisis  Brussels  UK  GFC  QE  recovery  Book  Trickle-down  reflate  reflation  ZIRP  NIRP 
october 2016 by asterisk2a
Yanis Varoufakis: »MONEY AND POWER«, Public Lecture 2015-11-04
3rd bailout loan $0 went to Greece. All to pay off banks. extend & pretend. 1st: ~90% went to the banks. [...] ESM does not exist [...] banking union plan not progressing at all. //&! Yanis Varoufakis @Oxford Union - - ACADEMIA LACKS ANTI-ESTABLISHMENT ATTITUDE! Because going against the grain has become anti-reputation. [...] it's all about expectations, predictions about where S&P500 will be in 12 months. [...] regression between theory and reality. economists have never been humble. [ see Wall Street cottage factory of analysis and prediction shops ] [...] if you torture the data and model enough it will confess. [< EU monetary union based on theory ] [...] [34:00] Brussels is technically incompetent and will not reform itself. I am a libertarian marxist. Schumpeter. true creative destruction. great wealth currently created - all going to 1%. = not humanitarian. not democratic. [...] 41:00 Q&A, <48:50> gov budget not same as household budget; George Osborne.
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april 2016 by asterisk2a

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