Saturday, 16 March 2013

Keiser Report (E418): Banksters Smoke Bellybutton Lint

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Wall Street clients who have no yachts and the American workers taking on second and third jobs. They also discuss the trillions in debt incurred just to keep the economy going nowhere. In the second half of the show, Max Keiser talks to Steve Keen, author of Debunking Economics, about central bankers smoking their own belly button lint with Ben Bernanke behaving like an Easter Islander trying to rescue the past. Professor Keen says we need to get back to a capitalism where we borrow to build a factory not to build a derivative to rip someone off. And, finally, they discuss Keen's Kickstarter project called Minsky, reforming economics with visual monetary modeling.

Great info on the US unemployment figures among other things. This is also a really good episode to watch about the disconnect between the real economy and the stock market hype. Second half is a must see too.

[Posted at the SpookyWeather blog, March 16th, 2013.]

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