FD
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hello -
he is a professor of economics.

For information purposes -

Real-World Economics Review is an economics journal that in 2010 polled their readers and asked them to vote for "the three economists who first and most clearly anticipated and gave public warning of the Global Financial Collapse and whose work is most likely to prevent another GFC in the future." Revere Award for Economics winners and details are here and documentation of the predictions by the finalists are included in Foresight and Fait Accompli: Two Timelines for the Global Financial Collapse. The Revere finalists in voting order below.

1.  Steve Keen
2.  Nouriel Roubini
3.  Dean Baker
4.  Joseph Stiglitz
5.  Ann Pettifor
6.  Robert Shiller
7.  Paul Krugman
8.  Michael Hudson
9.  Wynne Godley
10.George Soros

Link -
http://investorhome.com/predicted.htm

I would agree, that both Keen & Roubini did the best job, in warning about events.

That said, IMO neither got it quite right, BUT they certainly got it a great deal MORE CORRECT, than the vast majority of "normal" Accountants, Economists & the Global Politicians.

It is also difficult, if not impossible, to be correct with all predictions, considering that nearly all Global Politicians & Central Banks are trying their utmost to ensure the status quo" continues.

AND so, some plans have been implemented, with CB's & Politicians thinking those plans would solve the problem/s or at the very least, postpone or kick the can further down the road, SO IT GOES INTO SOMEONE ELSE'S WATCH?

Some of these actions have succeeded in postponing the worst effects from happening, a bit longer than would otherwise have been the case, BUT the basic final outcomes are still going to happen, although the final outcomes may be a bit worse, because of those Government & CB interventions!

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The actions of the reserve bank are intended to bring a recession froward in time, not postpone it.

It is mainstream economics pansi. It was on the front pages of the newspaper, before it happened.

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No it wouldn't.

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It is their reason for existence.

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Guess how they do that?

freediver wrote on Jan 4^th, 2013 at 1:41pm:

Keen saw it back in 2005, I don't think there was many headlines about a financial crisis back then.


The mainstream media should be reporting this information, otherwise people will be taken by surprise like in 2008. Someone has to tell people the bad news, he said.

He's regarded as a quack in Australia because too many people have too much money tied up in real estate, they're afraid to admit there's a problem on the horizon.

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Word on the street: Keen continues to claim that house prices in Australia will fall by 40 per cent.

Steve Keen, associate professor of economics at the University of Western Sydney, is becoming something of a superstar. He has been acknowledged as one of a handful of economists to have predicted the global financial crisis and now is a regular speaker at high-profile conventions around the world.

He is a consultant for the United Nations’ Economic and Social Commission for the Asia Pacific and in April he is speaking alongside George Soros and Nobel Prize-winning economists Joseph Stiglitz and Paul Krugman at the Institute for New Economic Thinking where he has been asked to give a speech on “taming financial market instability”.

The same organisation has given Keen almost $250,000 to develop software capable of predicting an economic crisis before it happens.

Last November he was interviewed on the BBC’s Hardtalk program, which attracts a worldwide audience of almost 300 million, in which he “went public” about his idea for a “debt jubilee”, where private debts are written off “en masse” to avoid “two decades” of economic stagnation.

Yet in his home country, this renegade economist is regarded as something of a quack. His outspoken views about Australia’s housing market, which he maintains will fall by 40 per cent over the next 10-15 years, have caused many to dismiss him as an attention-seeking alarmist.

Ironically, it’s a label that Keen does not mind wearing. “Somebody has to tell people the bad news,” he says. “When I saw the signs of the financial crisis back in 2005, I didn’t want to see what I was seeing.

“It was an accident, stumbling across the data while preparing to appear as an expert witness in a court case. It showed an exponential rise in private debt in Australia, and in the US, that was clearly unsustainable and was going to lead to a collapse in asset prices.

“When you see something like that, you have a responsibility to ring the alarm bell.”

http://www.brw.com.au/p/sections/features/keen_to_be_heard_ibhMdopX0E8Soh00ql3mP...