“Is Ray Dalio right on the US Debt?” Top Economist warns

Learn 50+ Years of Economics in Only 7 Weeks, by applying here: https://www.stevekeen.com

(Plus get Ravel™ - my proprietary economic visualization software I used in the videos - as a free bonus, if you get accepted & join.)

In this video, I continue the Ray Dalio series by digging deeper into why Dalio was right about the role of credit in the economy—and why mainstream economics has consistently missed the mark. Using my Ravel modeling software, I break down the textbook view of banks as mere intermediaries and contrast it with Dalio’s more accurate understanding: that private debt drives GDP growth. You’ll see why mainstream economists’ belief in equilibrium is flawed, how rising private debt truly fuels cycles, and why Dalio’s insights helped him succeed in the financial markets.

But here’s where the debate gets sharper—Dalio still shares the mainstream’s mistaken view of government debt. In this episode, I show how government spending actually creates money and stabilizes the economy, counterbalancing private sector downturns. We’ll look at historical data, debt ratios, and model simulations to reveal the real differences between private and public debt. If you want to understand why cutting deficits can backfire, and why stabilizing credit cycles requires smarter policies, this video lays it all out.
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Who is Dr. Steve Keen?

Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against conventional economic models. Holding a Ph.D. in economics, Dr. Keen is well-known for his critical analysis and advocacy for more realistic economic approaches. His work emphasizes the importance of accounting for financial instability and incorporates elements of complex systems theory. Engineers, finance professionals, and IT experts will appreciate his methodical breakdown of economic phenomena and his development of the Minsky software, which models financial crises. Dr. Keen's contributions are crucial for anyone seeking a deeper understanding of how economic systems can impact technological and financial environments. His teachings offer valuable insights into the economic forces shaping our world. By following his analysis, professionals can gain a better grasp of economic dynamics that influence their fields.

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Learn 50+ Years of Economics in Only 7 Weeks, by applying here: https://www.stevekeen.com

(Plus get Ravel™ - my proprietary economic visualization software I used in the videos - as a free bonus, if you get accepted & join.)