An Australian economist who predicted the 2008 financial crisis now says another crash is “almost inevitable.”
Steve Keen heads the economics department at Kingston University in London. He was one of the few academics to anticipate the subprime housing crisis. On his advice, French investment bank BNP Paribas announced it was shutting down three investment funds specializing in the US subprime market in 2007. At the time, the bank said it was struggling to calculate their values against a backdrop of growing concerns over liquidity.
In an interview on RT’s Keiser Report, Keen said another crisis is around the corner, and the problem this time is debt.