by Jeff Clark, GoldSilver:
Mike Maloney mentioned an economist he was studying as part of his research for a new book, so I ordered one of his books.
The core message in this economist’s book pulls no punches: There is no escaping another debt-related crisis. And while he doesn’t specifically state the crisis will be worse than the Great Depression, the data he shares and conclusions he draws make that clear.
The book is Can We Avoid Another Financial Crisis? by Steve Keen, Professor of Economics at Kingston University in the UK. For those who follow economic theories, he is closely associated with the beliefs of Hyman Minsky, who some credit as providing the best explanations of the causes of financial crises.
According to Mr. Keen, there are two reasons we will have another financial crisis and that it will be nasty. Both are based on debt, but may not come from the angles you expect…