"The government went to extraordinary lengths to stimulate the economy"
I can't believe this is still being used as an excuse for his 30's style depression forecast.
Keen is an economist right, the worldwide reaction to this problem was the same - massive unilateral support and stimulus...and had even started before he threw himself at the media.
what did he expect the Australian government to do? - his forecasts implied they would basically sit by and watch it happen and do nothing.
what an incredibly naive assumption for an "expert".
most respected economists of the time (at the time - ie before the outcome) saw him for what he was, an extremist..to put it kindly.
