Keens idea is similar to what Taiwan did in the 'Land to the tiller' revolution where govt bought up and redistributed the land to samller farmers to break up the feudal monopoly and compensated the lost equity with bonds over 20 years to keep the landlord class relatively happy. This 'Bloodless revolution' led to a massive increase in productivity. Today the issue is so many homeowners and petite rentiers are invested in the Ponzi itself, but the same principle can be applied in theory at least, even if it is highly unlikely politically.
Hey Steve, you've probably already done this but mind refreshing us on top 10 financial books. I'm sure you did a video once but can't find them for the life of me, thanks.
Hey Steve. There's an expression I want to share with you: "If you can't explain it simply, you can't explain it." I find myself saying this everytime I watch your 40 minute tangents.
Great discussion, always appreciate your content. Would love to see Ron Butler back again in the next month or two with his take on the latest market dynamics rolling through
Wow, It’s crazy how questioning home prices leads you down the economic rabbit hole! I took the same journey prior to watching you take yours! Congratulation, I’m impressed!
Fantastic discussion. Finally, we're getting a bit of a different social perspective on the economy... This is why I started watching your channel years ago. More content based on reality and less on partisan commentary is much appreciated, but maybe not great for the views.
If people bought a house that they can't afford, then when interest rates go up, and they're forced to sell, housing becomes more affordable again and rents will go down; that's exactly what happened in 2012. I bought in 2007, but I bought something within my means, and the interest rates were at 6%. In 2012, two or three-bedroom homes with a front and back yard, newly renovated, were going for under $200,000. It was also in a decent part of town in the Okanagan here in BC, Canada. There are never any solutions, only trade-offs, so people will have to suffer a little, but they need to start living within their means and paying off their debt NOW while interest rates are still low. Government can't help because they created the problem in the first place. We have to start taking personal responsibility for our financial problems and stop expecting someone to come and rescue us.
So its okay that the govt and the banks blew up the RE market and the people who needed a place to live and bought in can just suck it up and take one for the herd ?
Would love to be considered for a copy, trying to read as much of the recommended books you suggest. Finished The Psychology of Money and The Fourth Turning. Now on Kindle, The Princes of the Yen as it was almost impossible to buy a hard copy. Would love to read the book from Professor Keen. Thanks!!
Rewarding gamblers and Speculators with bail outs is a bad idea. It will never be enough and only adds another layer of cushion for them to continue being irresponsible. How about let the free market determine what fair value is. Investors should be rewarded for buying at good or below value and punished for buying over value. No free lunches or free loans. Bankruptcy is the only solution.
Was not familiar with Steve Keen prior to this but I enjoyed his thoughts and he made good contributions to the podcast. Would love a copy of his book.
Finally somebody with a solution to the problem of high home prices that doesn't involve making them even higher! To bad he is running for office in OZ because I would sure vote for him in Canada. It would be nice to ending the stupidity of our current no win monetary policy that always ends up screwing the young people and non asset holders in favor of making the already rich even richer.
So what conclusions can we make here Regards to the interest rate environment and its affect on housing prices? Seems to be that central banks will be forced to eventually lower rates again and continue an unsustainable rise in real estate prices in Canada? All while inflation continues to increase?
aren't we there now or close at least to taking the heat out of the RE market ? if they go another point they will drive the market down a bit and then they will have to stop. Then hopefully they will realise going any further will not stop commodity inflation and they wont rise anymore. Now as for dropping rates at that point to stimulate the economy ? well they are gonna have ta figure out a way of doing that without blowing up the RE market ... there has to be a way you'd think ?
why the animosity towards Ptolemy? for a first century AD mathematician he came up with an ingenious system to rationalize his observations with the technology he had at hand. Sure 1000 years later we understanding and technologies increased to the point we found his description wrong. But 1000 year run is pretty successful.
Side note 2 mins in and i must've heard "Steve" a dozen times. Jokes aside i like how you have been coming at the same list of issues with a slightly different angle and peeling yet another layer off of the issues. Ya did it again! Awesome
Thanks so much for the continued valuable content on your channel. I’d really love to read Steve’s book if you’ve still got extra copies to give away. Thanks again!
yea but if the realtors and all these developers say that Immigration is immense and there are swaths of people coming then we shouldn't see any drop if demand and prices. I ask to those people what happened to immigration now? Did the flights turn back in mid air seeing the rate hikes?
Central bankers are most certainly not beholden to asset prices. Central bankers are beholden to protecting the integrity of the domestic currency. Protecting asset values such as real estate is a veeerrrrrrrrrrrrrrrrrry distant second. These asset bubbles never last forever, and home valuations will collapse like any other good beyond its fundamentals
Hey Steve, thanks for all the quality content. Serious question though, what’s up with all these bots/scams in the comment section of all your videos? It’s so weird, doesn’t matter what video it is, you’re just getting hammered by them. Surprised UA-cam hasn’t cleaned this up.
Problem with a debt jubilee is that no one wants to suck up the losses. It worked in the old days because most of the wealth belong to the king, and it didn't impact his/her life much if one happened. Now everyone has a stake in it, so it's much harder to sort out the losses without someone getting unfairly screwed. So if that's going to be the case, just let it all go down and sort things out afterwards.
The housing bubbles will eventually show up in demographics, with people postponing or giving up on having kids because they lack proper housing or they're working multiple jobs to make the house payments. Well, it's already in demographics, with Japan at the leading edge. And in my opinion it's the biggest mass crime in the world.
Thanks for sharing Steve! 👍 Nice to see some idea for a glimmer of hope for future generations owning. Would love a book to read more of keens thoughts. Thanks!
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
Keens idea is similar to what Taiwan did in the 'Land to the tiller' revolution where govt bought up and redistributed the land to samller farmers to break up the feudal monopoly and compensated the lost equity with bonds over 20 years to keep the landlord class relatively happy. This 'Bloodless revolution' led to a massive increase in productivity.
Today the issue is so many homeowners and petite rentiers are invested in the Ponzi itself, but the same principle can be applied in theory at least, even if it is highly unlikely politically.
Excellent- Steve Keen is great- good hear the Australian perspective
Thanks for your insights. It's nice to see someone who looks at what they see without emotional bias. I'm glad I found this gem of a channel.
Steve was great to hear again. Thx Steve!
I’m able to vote for Steve Keen as I’m in NSW. And will. Is it possible to get a book in Australia?
Hey Steve, you've probably already done this but mind refreshing us on top 10 financial books. I'm sure you did a video once but can't find them for the life of me, thanks.
Hey Steve.
There's an expression I want to share with you:
"If you can't explain it simply, you can't explain it."
I find myself saying this everytime I watch your 40 minute tangents.
so you're trying to say you think houses will always go up then?
@@tylerjodeblock1224 I'm trying to say this video is incomprehensible. I don't know what planet youre on Tyler
Sounds like a you problem
I love the fact you make all of this info accessible to us. You are great Steve. I would like a book please.
Thanks for inviting Steve! Thanks for the great content all the time!
I used to read alot! Now just work to much...I would love a new book to read. Thanks for the informative shows!
great perspective from this video. keep up the good work Steve! Would love a copy of the book
Ill throw my hat in the ring to learn more on this topic. Could always use a new book
Great discussion, always appreciate your content. Would love to see Ron Butler back again in the next month or two with his take on the latest market dynamics rolling through
Thanks Steve and guest. Very informative. Would love a book cheers
Very good insights. Thanks Steve. Would love to read about it more in his new book.
Wonderful interview! I love your guests knowledge, experience, and insights. So smart!
I enjoyed the show. I would love to read that book. Thx
Great interview! Very interested in the book! Thanks for all you do Steve!
This was an excellent video. Thanks for sharing!
Wow, It’s crazy how questioning home prices leads you down the economic rabbit hole! I took the same journey prior to watching you take yours! Congratulation, I’m impressed!
Fantastic discussion. Finally, we're getting a bit of a different social perspective on the economy... This is why I started watching your channel years ago. More content based on reality and less on partisan commentary is much appreciated, but maybe not great for the views.
Great to have those left field interview on the channel once in a while. Amazing content as usual, thanks!
If people bought a house that they can't afford, then when interest rates go up, and they're forced to sell, housing becomes more affordable again and rents will go down; that's exactly what happened in 2012. I bought in 2007, but I bought something within my means, and the interest rates were at 6%. In 2012, two or three-bedroom homes with a front and back yard, newly renovated, were going for under $200,000. It was also in a decent part of town in the Okanagan here in BC, Canada. There are never any solutions, only trade-offs, so people will have to suffer a little, but they need to start living within their means and paying off their debt NOW while interest rates are still low. Government can't help because they created the problem in the first place. We have to start taking personal responsibility for our financial problems and stop expecting someone to come and rescue us.
So its okay that the govt and the banks blew up the RE market and the people who needed a place to live and bought in can just suck it up and take one for the herd ?
I’ll take a book! Thanks Steve & Steve!
Would love a copy of this book! Your content is always on point!
Is it too late to get one of the books?
Great dialogue Steve. Would love to get his book if you still have left :)
Book please 🥰
I'd love a copy of Professor's Keen book!
Thanks for another great video.
Would love a book if you still have one.
I would like a copy, please and thank you
Would love to be considered for a copy, trying to read as much of the recommended books you suggest. Finished The Psychology of Money and The Fourth Turning. Now on Kindle, The Princes of the Yen as it was almost impossible to buy a hard copy. Would love to read the book from Professor Keen. Thanks!!
Send me an email and I’ll get you set up
Rewarding gamblers and Speculators with bail outs is a bad idea. It will never be enough and only adds another layer of cushion for them to continue being irresponsible. How about let the free market determine what fair value is. Investors should be rewarded for buying at good or below value and punished for buying over value. No free lunches or free loans. Bankruptcy is the only solution.
We will never choose this. It must be chosen for us.
how ya gonna police that ?
I am Interested in a book. Thank you.
Yeah I don't mind having a book. Thanx
Great interview, thank you.
Would love a copy of the book.
Great video! Steve is 👏 amazing. Can I enter the drawing for his book ?
Great Info Thank you
Excellent content as always Steve, keep up the good work.
Was not familiar with Steve Keen prior to this but I enjoyed his thoughts and he made good contributions to the podcast. Would love a copy of his book.
I’ll take one of those books. Sounds very insightful. Thanks Steve.
Interested in a book!
Great interview Steve, Thanks.
Thanks Steve!
Interesting talk!
Great interview! Would love a book. Keep it up - GMJ
Would be awesome to get a copy of Steve's book :)
Always a fantastic, informative show! Would love Steve's book.
Hi
I would be more than happy to get a copy of Steve Kenn new book from Steve Saretsky. Double the charm
Finally somebody with a solution to the problem of high home prices that doesn't involve making them even higher! To bad he is running for office in OZ because I would sure vote for him in Canada. It would be nice to ending the stupidity of our current no win monetary policy that always ends up screwing the young people and non asset holders in favor of making the already rich even richer.
great video! would love to read that book!
I’d love to have Dr Keen’s e 📕 book if It’s available. Thank you so much
So what conclusions can we make here Regards to the interest rate environment and its affect on housing prices? Seems to be that central banks will be forced to eventually lower rates again and continue an unsustainable rise in real estate prices in Canada? All while inflation continues to increase?
aren't we there now or close at least to taking the heat out of the RE market ? if they go another point they will drive the market down a bit and then they will have to stop.
Then hopefully they will realise going any further will not stop commodity inflation and they wont rise anymore.
Now as for dropping rates at that point to stimulate the economy ? well they are gonna have ta figure out a way of doing that without blowing up the RE market ... there has to be a way you'd think ?
Please give me book. I like to read book.
Prof. Keen's suggestion is very similar to the conclusion I reached as well. It's a good path forward.
Subbed.
Awesome info, would love a copy of the book.
Would love to be considered for the book thanks for great interview.
Wow. This was one of the most informative interviews I have wachted in a long while. Thanks for your time Professor Keen and good job Steve.
Thank you
why the animosity towards Ptolemy? for a first century AD mathematician he came up with an ingenious system to rationalize his observations with the technology he had at hand. Sure 1000 years later we understanding and technologies increased to the point we found his description wrong. But 1000 year run is pretty successful.
Would love the book. I've read Schiller and rogoff and look forward to adding his work.
I’d love a copy of Steve’s book, thank you very much!
+1 on a copy of the book! Great content.
Great content. Would love a book if there are any left!
Would appreciate that book!
I’d love a copy please! It will be donated to the library once I’m finished so hopefully a lot more people can read it too
Side note 2 mins in and i must've heard "Steve" a dozen times. Jokes aside i like how you have been coming at the same list of issues with a slightly different angle and peeling yet another layer off of the issues. Ya did it again! Awesome
Appreciate the kind words
This was really good. Good work
Thanks so much for the continued valuable content on your channel. I’d really love to read Steve’s book if you’ve still got extra copies to give away. Thanks again!
yea but if the realtors and all these developers say that Immigration is immense and there are swaths of people coming then we shouldn't see any drop if demand and prices. I ask to those people what happened to immigration now? Did the flights turn back in mid air seeing the rate hikes?
Great content as usual! I'll take a book if available.
Im pretty msart! Would love a new fantastic book.
If a book is still available Steve, I'd love one 😊🙏. Been following you since the beginning, great content and appreciate the expansion into Macro 👍
Done. Send me an email
@@saretsky Awesome, will do right away, thank you 🙏
Would love a book if available!
I want a book:)
Excellent interview
Books too expensive now with inflation ❤️free knowledge
Steve Keen is brilliant!
Central bankers are most certainly not beholden to asset prices. Central bankers are beholden to protecting the integrity of the domestic currency. Protecting asset values such as real estate is a veeerrrrrrrrrrrrrrrrrry distant second. These asset bubbles never last forever, and home valuations will collapse like any other good beyond its fundamentals
Always appreciate a good book!
Thanks for this interview with Prof. Steve Keen. I'd love to get a copy of his book.
Hey Steve, thanks for all the quality content. Serious question though, what’s up with all these bots/scams in the comment section of all your videos? It’s so weird, doesn’t matter what video it is, you’re just getting hammered by them. Surprised UA-cam hasn’t cleaned this up.
All financial UA-cam channels have these stupid bots
UA-cam problem for sure
Would love to read the book 📖 🙏
Thank you. Niagara Falls Canada checking in. Fingers crossed for a chance for a copy of the book.
I would want one of the books also! Thanks Steve for the great info and effort used for the videos!
Love your content and always love to broaden my knowledge. Would really appreciate the book.
Problem with a debt jubilee is that no one wants to suck up the losses. It worked in the old days because most of the wealth belong to the king, and it didn't impact his/her life much if one happened. Now everyone has a stake in it, so it's much harder to sort out the losses without someone getting unfairly screwed. So if that's going to be the case, just let it all go down and sort things out afterwards.
The housing bubbles will eventually show up in demographics, with people postponing or giving up on having kids because they lack proper housing or they're working multiple jobs to make the house payments. Well, it's already in demographics, with Japan at the leading edge. And in my opinion it's the biggest mass crime in the world.
I would like to enter the draw for the book
Great content!
Ouuu looking forward to this one!
I’ll take a book if one is available. Thank you! Loving the content. Keep it up
In for the book! Great interview, thanks Steve
Would love to have a copy of Prof Steve Keen's book. Thanks for the video.
Would love a book!!! If you have any to give away. Very insightful.
A free book is always appreciated. Would be a change from the adventure and action novels which have recently been my mainstay. 👍👍👍😊
Thanks for sharing Steve! 👍 Nice to see some idea for a glimmer of hope for future generations owning. Would love a book to read more of keens thoughts. Thanks!
Love your content and the loonie hour Steve. Would love a book as well :) always trying to learn more
Thanks for the video. I would love one of those books 😀
I’d love a book. Great discussion!!