Thursday, 12 August 2010

Bank Profits a sign of economic sickness, not health

There is an interesting blog today by Steve Keen, which I think explains
quite a lot about our current predicament. Go to
www.debtdeflation.com/blogs/ to read it, as well as www.nakedcapitalism.com/
to see it reproduced on another very good, and wider, blog.

Keen refers to the situation in Australia, where he says government debt is
5.5% of GDP and private debt is over 150% of GDP. Of course both figures
are very different in the UK and the US, but I think his argument still
holds.

[Hat-tip: Tom Lines]

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1. 2. 3. Rupert's Read: Bank Profits a sign of economic sickness, not health 4. 12. 15. 16. 17. 18. 19. 20. 23. 24.

25. 26. Bank Profits a sign of economic sickness, not health 27. 28.

29.
There is an interesting blog today by Steve Keen, which I think explains
quite a lot about our current predicament. Go to
www.debtdeflation.com/blogs/ to read it, as well as www.nakedcapitalism.com/
to see it reproduced on another very good, and wider, blog.

Keen refers to the situation in Australia, where he says government debt is
5.5% of GDP and private debt is over 150% of GDP. Of course both figures
are very different in the UK and the US, but I think his argument still
holds.

[Hat-tip: Tom Lines]

30. 31. 32.