Boom Bust Season 1 Episode 45 Steve Keen On Private Debt and Australia and BitCoin As an Enduring Platform

In season 1 episode 45 of Boom Bust, the focus is on private debt with guest Steve Keen, an economist and author of several books on the subject. Keen delves into the problems caused by private debt, stating that it is the root cause of financial crises and depressions. He discusses how the current economic system encourages individuals and businesses to take on more debt than they can handle, leading to a vicious cycle of debt-fueled growth that eventually becomes unsustainable.

The episode also explores the situation in Australia, where Keen has been outspoken about the housing market and the potential for a housing bubble burst. Keen analyzes the current state of the Australian economy and offers his take on what needs to be done to address the housing crisis and prevent a broader financial meltdown.

Additionally, the episode looks at the enduring platform of Bitcoin and other cryptocurrencies. The host explores the reasons these virtual currencies continue to maintain a presence in the financial world despite regulatory challenges and fluctuations in value. The discussion includes the concept of decentralized finance (DeFi), which allows individuals to take control of their finances without relying on traditional banking systems.

Throughout the episode, the guests offer insights into the current state of the global economy and what trends to watch out for. They present their analysis on the prospects for Bitcoin as a long-term investment and the systemic risks associated with private debt. Overall, the episode provides valuable information for anyone interested in the state of the world economy and the opportunities and risks it presents.