TARIFFS: Why YOU Got it All Wrong | Steve Keen

Mar 4, 2025

In this engaging conversation, Professor Steve Keen, an esteemed economist and author of 'New Economics Manifesto', dives into the intricacies of our global financial system. He challenges misconceptions about government debt versus private debt, highlighting the often-overlooked risks of the latter. Keen discusses how tariffs can unexpectedly drive local innovation and critiques the reliance on interest rate hikes over fiscal measures. He also sheds light on the effects of pandemic spending and the implications of the overvalued dollar on economic growth.

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INSIGHT

Private Debt

Excessive private debt, not government debt, drives economic booms and busts.
Private debt creates instability, leading to credit crunches when growth turns negative.

INSIGHT

Bankruptcy

Private organizations can go bankrupt because they cannot create their own money.
Governments, unlike private entities, can create money and don't face the same bankruptcy risks.

INSIGHT

COVID-19 Stimulus

Government stimulus during COVID-19 lockdowns prevented private sector collapse.
This stimulus, while necessary, prolonged the effects of the 2008 financial crisis.

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Welcome to Soar Financially! In this episode, we’re joined by Professor Steve Keen, Author of New Economics Manifesto, renowned economist and expert in monetary systems, for a compelling discussion about the hidden mechanics of our global financial system and what it means for investors. If you’re curious about the interplay between private debt, government spending, and the real drivers of economic growth in an era of policy missteps and financial risks, this interview is a must-watch.#economy #financialmarkets #gold ------------👨‍💼 Guest: Professor Steve Keen📙Author: New Economics Manifesto🌎 https://www.stevekeenfree.com/free-book7📺 @ProfSteveKeen𝕏 @ProfSteveKeen📅 Recording date: February 28th, 2025---------------------📆 Save the Date 📆DEUTSCHE GOLDMESSE May 16 & 17, 2025 in Frankfurt, Germanywww.deutschegoldmesse.com FREE Registration for Investors! ---------------------📰 Up-to-Date Commodity Prices & Commentary 📰👉 Clear Commodity Network 👈🌎 https://clearcommodity.net/ 🌎►► Follow Us! ◄◄Twitter: http://twitter.com/soarfinancialWebsite: http://www.soarfinancial.com/---------------------00:00 Intro01:03 Guest Introduction: Prof. Steve Kane02:11 The Dynamics of Government Spending & Money Creation06:28 The Hidden Crisis: Private Debt vs. Public Debt09:16 Fiscal Cuts and the Demand Dilemma12:28 Interest Rate Hikes & Bond Market Fragility16:14 Fiscal Policy vs. Monetary Policy: The Debate20:10 Tariffs, Trade, and Industrial Policy Insights24:05 The Overvalued Dollar & Global Manufacturing Impact30:18 Policy Missteps and Economic Risks35:37 Industrial Policy and Future Innovation41:06 Historical Lessons and Economic Resilience44:42 Prof. Steve Kane’s Final Economic Insights48:55 Predictions for the Next Economic Cycle51:58 Closing Remarks & How to Connect with Prof. Steve Kane56:14 Outro**Disclaimer:**Some of the links presented might be affiliate links. We might receive a commission if a purchase is made using those links! Unless specifically disclosed, all information available on Soar Financial and its affiliates or partners should be considered as non-commercial in nature. None of the content produced by Soar Financial should be considered an endorsement, offer or recommendation to buy or sell securities. Soar Financial is not registered with any financial or securities regulatory authority in Canada, the US, Europe, or the UK, and does not provide, nor claim to provide, investment advice or recommendations to any consumer of the content that Soar Financial produces and publicizes. Always do your own due diligence and/or consult a qualified legal, tax, or investment professional if personal advice is deemed necessary.Soar Financial and its related companies (including its directors, employees, and representatives) or a connected person may hold equity positions in securities detailed in communications. When this occurs a disclosure will be made. Disclosures on social media will be made using the hashtag #coi (short for conflict of interest).Soar Financial, its affiliates, and their respective directors, officers, employees, or agents expressly disclaim any liability for losses or damages, whether direct, indirect, special, or consequential, or other consequences, howsoever caused, arising out of any use or reproduction of this site or any decision made or action taken in reliance upon the produced content of Soar Financial, whether authorized or not. By accessing Soar Financial’s content, each consumer of Soar Financial content releases Soar Financial, its affiliates, and their respective officers, directors, agents, and employees from all claims and proceedings for such losses, damages, or consequences.