How Debt and Credit Create Financial Crisis

"Credit is the lifeblood of economic activity, and when it turns negative, it sends shockwaves through the entire system."Join Professor Steve Keen as he revisits his thought-provoking interview with Lex Fridman, diving into the intricate relationship between private debt and economic cycles. In this video, Keen breaks down how rising credit can fuel economic booms, while its decline can lead to devastating recessions. Using compelling data and visualizations, he explores historical trends across various countries, revealing the critical role that credit plays in shaping our economies. Prepare to challenge conventional economic wisdom as Keen critiques mainstream theories and presents a fresh perspective on the dynamics of debt and demand.---Like others, if you also enjoyed this video - you'll probably like these freebies too:1) Join ~10,000 Other Truth-Seekers by Downloading my new 'Funny Money' Bundle (2 books valued at $60).Free this week here:new.stevekeenfree.com2) Are you an Engineer, Finance, or IT Professional? (Active or Retired)If you are, the 7-Week Rebel Economist Challenge is made for you. If you qualify, I will work closely with you every week to install 50+ years of real economics into you, in only 7 weeks. Working closely with the 5 best applicants this week.Learn more here:apply.stevekeenfree.com--Who is Dr. Steve Keen?Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against conventional economic models. Holding a Ph.D. in economics, Dr. Keen is well-known for his critical analysis and advocacy for more realistic economic approaches. His work emphasizes the importance of accounting for financial instability and incorporates elements of complex systems theory. Engineers, finance professionals, and IT experts will appreciate his methodical breakdown of economic phenomena and his development of the Minsky software, which models financial crises. Dr. Keen's contributions are crucial for anyone seeking a deeper understanding of how economic systems can impact technological and financial environments. His teachings offer valuable insights into the economic forces shaping our world. By following his analysis, professionals can gain a better grasp of economic dynamics that influence their fields.