Steve Keen, aka the “Merchant of Gloom” was on BBC’s HardTalk this past week and lived up to his merchant of gloom moniker. When Keen was asked if we are headed to another great depression – he stated, “We are already in one. The same thing applied in the last great depression that people didn’t call it one until after it was over.” So, what’s Keen’s solution for the current global financial crisis, “Write off the debt, bankrupt the banks, nationalize the financial system, and start all over again.”
Now some may wonder why we should even listen to Steve Keen. Well, Steve Keen was one of the few economists who predicted the current global financial crisis.
Other topics in the interview include the Occupy Wall Street protests, debt jubilees, and how the financial sectors is parasitic to capitalism. You can watch the full interview below.