just a small snippet from steve keen's latest blog
'Not well. Rudd’s stimulus is a whopping $42 billion–a big number. But our private debt is now over $2 trillion. If the private sector de-levers by as little as 5% of its current debt level, that will withdraw $100 billion from spending. In the new economic Rock vs Scissors game, Deleveraging trumps Government Stimulus every time'
De-Leveraging - must be the buzz word over the last few months.
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just a small snippet from steve keen's latest blog'Not well....
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