Published on Sep 21, 2013
In this 500th episode of the Keiser Report, Max Keiser and Stacy Herbert, discuss what the economy and financial sector look like five hundred episodes later. They find an economy where the wealth and income gap is the highest ever, median income has collapsed and the mainstream media alleges the government is ‘assaulting’ JP Morgan with all the fines for the bank’s many criminal activities. In the second half, Max interviews Professor Steve Keen about banking and leverage five years after the collapse of Lehman Brothers.
“The great tragedy is that it should have been a final stop message for the global economy when the crash happened, but because the politicians have become so locked up in the belief that you can’t have a viable economy unless you have a large financial sector, they’ve spent their time reviving the financial parasite rather than reviving the economy that the parasite has actually brought to its knees.”
Steve Keen (one of the heterodox economists who correctly predicted the 2008 crash)
It starts halfway through, but Max and Stacy’s review of the financial sector over the 500 episodes of their RT show is well worth listening to, as well as Steve Keen.