“Conventional economic theory says ‘crisis don’t happen’ unless they are hit by an [outside] shock” exclaims Steve Keen, adding that numerous Nobel Prize winning economists have suggested that “capitalism is stable…” and “the problem of avoiding depressions has been solved for many decades.”
But as Keen explains in this brief but extremely succinct interview, they are wrong – and simply won’t (or can’t) see the next one coming. “People in the public think economists are experts on money; but, in fact, they are experts in finding ways not to include money, debt, and banks in their models”
And yet, despite their failed forecasts and dismal ‘scientific’ models, we trust they can enter (and exit) the greatest monetary experiment in history with no bad outcome…
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/oHYUd-QGkmE/story01.htm Tyler Durden