Prof. Steve Keen
@ProfSteveKeen • 116,312 subscribers
Predicted the 2008 financial crisis years early. Honorary Professor at UCL. Learn 50+ years of real economics in only 7 weeks. Apply below on my website.
Videos
I was on Piers Morgan Uncensored this week, debating Kevin O'Leary on everything from Iran to wealth taxes to AI. But the moment that stuck with me was China. For years people have challenged me to name a single country actually doing what I argue for. I never could, but now I can. China has pulled more people out of poverty than any nation in history, and it's out-building America while it does it. Public affluence and private affluence. Turns out the combination works. Kevin's terrified of his kids "living under Chinese rule." Meanwhile I've walked those cities, and I'm not the one stepping over someone sleeping rough every five metres. Watch the full thing and tell me who won, link in the comments.
Prof. Steve Keen144,148 просмотров • 11 часов назад
The US government borrows $2 trillion more than it collects every year. Sounds terrifying when you put it like that. And the conventional logic says treat it like a household, borrow too much and you collapse. But here is what they never tell you. The government is not a household. If you print your own money at home, you go to jail. The government does it as standard operating procedure. So what actually happens when the government sells bonds to cover that gap? The answer will surprise you because every single bond auction in US history has been oversubscribed. The funds to buy the bonds are created by the deficit itself. I broke the whole thing down with double entry bookkeeping in Ravel(c) to show you exactly where the money flows. So for a more comprehensive understanding, refer to the full video presentation given in the comments. #SteveKeen #GovernmentDebt #BondMarket #Economics #MonetaryPolicy
Prof. Steve Keen18,700 просмотров • 1 день назад
Piers Morgan asked if we are heading for a global recession. I said we are heading for a global depression. What followed was one of the more honest conversations I have had on television in a long time. Three economists. Three very different worldviews. And one question nobody in power seems willing to answer seriously. The physical infrastructure of the global economy is being destroyed in real time. The financial markets have not caught up yet. When they do, the overreaction will be severe. The clip is short. The implications are not. Full debate link in comments. #Macroeconomics #GlobalEconomy #OilCrisis #StraitOfHormuz #IranWar #EconomicPolicy #PostKeynesian
Prof. Steve Keen211,293 просмотров • 2 месяцев назад
Australia’s housing obsession is one of its greatest weaknesses. Rising house prices are not a sign of prosperity. What they actually tell you is that more money is being borrowed from the banking sector to buy homes. The cause of rising house prices is rising household debt, and that is unproductive. House prices are now five times more expensive than consumer goods compared to 1970. We should never have allowed that to happen. Housing should not be an asset. It is not something you should profit out of. It is something you should live in. The people who really benefit from rising house prices are real estate agents and property developers, not the families who live in them. We are paupers living inside castles. Paying a fortune on the mortgage, a fortune on private schools, and out of the remainder, just trying to live. For the more information, check out the comment section, #SteveKeen #AustraliaProperty #HousingCrisis #MortgageDebt #Economics #HousingAffordability
Prof. Steve Keen59,961 просмотров • 1 месяц назад
Whoever replaces Keir Starmer is walking into a trap, and they almost certainly do not know it. The strain is everywhere already. Wages flat, unemployment climbing, councils going broke, public services worn down to nothing. The new prime minister will promise to turn it around. So did the last six. The reason none of them could is not personal and it is not partisan. It is the economics they were all trained to believe, and it has been failing quietly for decades. Enough time has passed to say that without hedging. So watch the next one closely. Same script, same ending. For a more comprehensive understanding, please refer to the full video presentation provided in the comments. #SteveKeen #Economics #Neoliberalism #UKPolitics
Prof. Steve Keen26,449 просмотров • 20 дней назад
Health. Welfare. Education. Infrastructure. All cut. Military? Untouched. That is what 50 years of textbook economics looks like. Politicians from Thatcher to Starmer have followed the same playbook: panic about government debt, slash public services, ignore the banking system that actually creates money. Starmer fell for the same reasons every predecessor did. Not just his own failures, but because he was following advice from economists who do not understand how money works. The textbooks call it good policy. I call it an absolute disaster. So for a more comprehensive understanding, refer to the full video presentation given in the comments. #SteveKeen #KeirStarmer #Economics #PostKeynesian #PrivateDebt
Prof. Steve Keen16,831 просмотров • 13 дней назад
When I took out a mortgage for $1 million, the bank didn't get poorer. They simply typed new money into my account. Brand new money that didn't exist before. The person I bought the house from now has $1 million in their account. The money supply increased by $1 million. In my latest video, I demonstrate this using double-entry bookkeeping with two models side-by-side: The Textbook Model: Banks are intermediaries. Credit flows from creditors to debtors. GDP remains completely unchanged regardless of what happens with lending. The Real World Model: Banks create money through lending. Credit increases both the money supply and GDP. When credit contracts, GDP falls. I run both simulations in my Revel software. The difference is stark. In the textbook version, massive changes in credit have zero impact on the economy. In reality, bank lending is the primary driver of economic activity. This isn't just academic. These false models lead mainstream economists to catastrophic policy mistakes. They model capitalism as a barter system while completely ignoring the banking sector, private debt, and even the money supply. I'm not trying to be an irritating contrarian. I'm irritated by having models which are unrealistic, false, and lead us to making catastrophic mistakes about how we manage the real economy. The link to the full demonstration is in the comments. #Economics #BankingSystem #MoneyCreation #MacroeconomicPolicy
Prof. Steve Keen200,049 просмотров • 7 месяцев назад
Energy prices could surge within weeks if Hormuz traffic does not return to normal. I am warning that war destroys physical capacity much faster than it can be rebuilt. Once energy and fertilizer are hit, the damage moves straight through production and into the wider economy. The full video presentation is available in the comment section. #EnergyShock #Hormuz #SteveKeen #GlobalEconomy
Prof. Steve Keen23,650 просмотров • 1 месяц назад
A war nobody needed. A debt number too big to say out loud. And an El Nino that could be the worst in recorded history. None of that is a coincidence. It's what happens when the people running the world's economy are trained not to see any of it coming. The next Fed chairman walks into all three at once, with the same playbook that missed 2008. I don't think 2026 survives on autopilot. For a more comprehensive understanding, refer to the full video presentation given in the comments. #SteveKeen #PostKeynesian #FederalReserve #EconomicCrisis
Prof. Steve Keen11,693 просмотров • 16 дней назад
I think we are watching the American empire decline in real time. And this war in Iran is accelerating that shift. What looks like a regional conflict is already reshaping the global balance of power, with China looking like the big winner and the fallout set to reach far beyond the battlefield. For further breakdown check out the comment section. #SteveKeen #IranWar #China #EconomicCollapse
Prof. Steve Keen29,244 просмотров • 1 месяц назад
45 minutes. 3 flawed arguments. 1 walkout. I sat down to debate China’s economy. The other guy came in convinced China was heading for collapse. Every argument I made, he had a talking point ready. None of them held up under scrutiny. All of them came straight from Western media headlines. So after 45 minutes I had enough and left. Then I sat down with Dom Tweed, my former student who actually lives in China today, and reacted to the whole thing on camera. Full video link in comments. #ChinaEconomy #SteveKeen #EconomicDebate #PostKeynesianEconomics #MacroEconomics #China
Prof. Steve Keen38,098 просмотров • 2 месяцев назад
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Prof. Steve Keen198,740 просмотров • 1 год назад
The West will not take this seriously until it hits close to home. 45 million people are already being pushed toward hunger. Fertilizer is disappearing. Food production is dropping. And we still think goods just magically appear on shelves. This is the wakeup call. Full video at the link in the comments. #GlobalFoodCrisis #StraitOfHormuz #SteveKeen #EconomicReality #FoodSecurity
Prof. Steve Keen24,448 просмотров • 2 месяцев назад
The housing market is broken. Prices in the UK are 9 times the average salary. In Australia, they're rising at the fastest rate ever. The usual story is "supply and demand." But that's not the whole picture. For 130 years, from 1850 to 1980, house prices doubled. In the last 40 years, they’ve tripled. What changed? I'll tell you what changed. Watch the full video to understand the real cause. Link in the comments. #HousingCrisis #Debt #Economics
Dr. Steve Keen51,449 просмотров • 7 месяцев назад
"Is Trump Right on Tariffs?" Top Economist Warns the US
Prof. Steve Keen85,953 просмотров • 1 год назад
When the shipping lane slows, the food system starts to shake. Urea has climbed to its highest level since 2022, and that is only the surface signal. Underneath it, a major share of the world’s fertilizer supply is stuck, and the consequences could reach far beyond fuel prices or trade headlines. For the complete breakdown, check out the comment section. #HormuzBlockade #FertilizerCrisis #GlobalFamine #SteveKeen
Prof. Steve Keen12,481 просмотров • 1 месяц назад
Top Economist Explains Inflation (Re: "Elon Musk is Wrong")
Prof. Steve Keen81,274 просмотров • 1 год назад
"Elon Musk is Wrong Again" Top Economist Warns the US
Prof. Steve Keen78,350 просмотров • 1 год назад
Tim Allen Primary Bond sales don't actually borrow money. Instead, they convert the asset backing fiat-money from Reserves to Bank-owned Treasury Bonds--as this Ravel video shows. There's much more to tell, but the paranoia over government debt is based on ignorance of the accounting.
Prof. Steve Keen26,510 просмотров • 4 месяцев назад