Speaking at the Per Capita annual conference, Policy Exchange 09, in Canberra, Australian economist Steve Keen looks at the rising national debts in Australia and the United States, paying particular attention to their historical relationship with recessions, growth and unemployment. He suggests that the levels of debt in both countries have reached a point which virtually guarantees a very difficult economic road ahead in the long term.
The presentation runs for 31 minutes, but makes for excellent viewing.
Source: The Monthly, November 2009 (hat tip: The Big Picture).
