Season 1 · Episode 127
Who’s next for a debt crisis?
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
December 5, 201851m 6s
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Show Notes
House prices have started to fall in Australia. In Sydney they’ve fallen 10 percent in a year – Steve Keen isn’t alone in predicting they’ll fall as much again, at least. He tells Phil Dobbie that we’re already seeing the consequences of the fall, with Australian GDP falling. But will it lead to a recession. Could the consequences really be called a crisis, or will the economy absorb the shock? And, beyond Australia, which other countries are carrying unsustainable levels of household debt?
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