Keen versus Gurner to distract Switzer investors

Bloody Switzer won’t leave poor Steven Keen alone:

Roll out the housing bear to distract investors from this underperforming ETF:

David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)

Comments

  1. Hill Billy 55MEMBER

    Tim is obviously one of the good guys as any government assistance for his business is merely helping a mate. And he calls Millenials entitled!!!!!!!!!
    With his smashed avocado peccadillo ensconced in the historic lectionary of the nation you’d think he would be a bit more circumspect.

    • Blottridesagain

      He has to be the most annoying of all the commentators and ‘experts’ Just Rah! Rah! Rubbish – ALWAYS!

  2. giving everyone in Australia $100k would barely make any difference to the level of debt of those who are dragging everything down

  3. Goldstandard1MEMBER

    He and his mate Chris Joye need to……..wait for it…..
    burn!
    That’s right, throw them in the bonfire with David’s foxtel, construction and housing industries!
    MoooHAHAHA!

  4. Lol Steve Keen should just go and enjoy his Thai girlfriend and stop his commentary. He just has no idea of reality.

    • Goldstandard1MEMBER

      No, Steve Keen’s modelling will go down in history as right, but the tipping point was way later than he predicted.
      Basically what he said for 08, just like Martin North is playing out now. Don’t throw out the modelling because the gov’s and central bank emptied their ammo.

      • Jumping jack flash

        There’s many decades left on this path depending on how crazy they make it.
        And it WILL get crazy.

        • the next decade will bring -10% IO mortgages, and people will still be calling for lower teh rates

  5. Jumping jack flash

    2.3 trillion!
    Wow that’s a lot of debt. Nevertheless, we need to reach 7 trillion by 2030 to get to the levels of debt growth we had back in 06 to experience a new golden age of debt.

    The virus event hasn’t changed reality. The interest needs to be paid, and people need to consume, and houses don’t do much to generate the interest or the spending money – except with more debt of course.

    Keen is correct, we need factories. Thousands of them. But nobody is going to build them, it makes no sense. It is far easier to get some rube to take on an enormous lump of debt and hand it over to you. Cleaner, too.

    • Steve Keen is not correct and Australia does not need factories.

      Australia needs the insane levels of immigration stopped and a complete overhaul of its education system. Australia could be world leaders in research, innovation and education but, no, greed and incompetence got in the way of that.

      Here’s Keen saying give everyone $100k.. then the debt will magically disappear and Australia will start some kind of 1950s manufacturing boom. God, what a numpty boomer.

      • Jumping jack flash

        So we create a nation of eggheads and then what?
        Prepare research papers and sell them to China?

      • Australia does need factories and everything else that goes with that: R&D, education (STEM), up to 30% of GDP. Then we are talking about a serious and respectable country.
        Is it going to happen? No way. That is 20-30 years project and too hard. Much easier to keep doing what we are doing.
        P.S.
        Watch the “Deadwood” from HBO if you are not sure what we are doing now.

        • Right, but not factories and manufacturing for the sake “jobs” and “economic growth”.

          R&D, innovation and technological break throughs must come first. A manufacturing industry in a high wage country doesn’t exist without technological and scientific advances. Otherwise, you just become a Bangladesh or China.

          Steve Keen thinks restaurants in Thailand are cheaper than in Australia because Thais don’t have high housing debt. How anyone takes him seriously still is hilarious. He epitomises what academia has become over the decades. Ivory tower types with no grasp whatsoever of reality and the world around them.

          • These things work in unison. See Germany ( high wage country ). Now imagine what would zee Germans do with so much raw material.

          • Jumping jack flash

            Keen is correct. Please consider that debt is a function of wages and wages are a function of profits and profits are a function of prices of goods and services. Plus that whole demand curve thingy fits in there somewhere but certainly it doesnt apply in all cases.

            Then consider the gargantuan amounts of debt that are completely essential to take on.

            Yes!
            We cant just have the research alone. Makes no sense unless we want to continue importing students for our amazing education “industry” and to push up our house prices with debt – thats working out so well for us.

            With manufacturing comes research. I work in manufacturing R&D. The stuff we’re inventing is cutting edge and world leading in the meat processing field. We’re researching photonics, AI, vision systems, as well as mechanical systems of course. All the good stuff.

            But there are only a limited number of meat processing factories, many of them tiny with tiny budgets, and while they and we get significant government and academic support for R&D and capital expenditure, imagine if we had thousands more factories creating goods for every kind of market, all with R&D programmes.