1. The Covid-19 shock was set on steroids by the risk weighted bank capital requirements mostly based on the expected credit risks banks should clear for on their own; not on misperceived credit risks or on exogenous events, like Covid-19

  2. I’m much amused by the way the presenter of that video, near the start, asks for money to enable him at attract “big name” economists to his show. The problem with that idea is that the big names are often the biggest incompetents. E.g. see my article entitled “Lawrence Summers attempts to criticise MMT – try not to die of laughter.”

    But never mind: the quickest route to fame is being seen in the company of the famous. Whether the famous are incompetents or not is often of little interest to fame seekers.

    Re Steve Keen’s claim that there’ll be a crash post-Covid, he seems to be unaware of the counter argument, namely that the private sector has accumulated a very large stock of central bank issued money during the Covid crisis, thus far from there being a crash, the opposite might occur: i.e. excess demand and excess inflation.

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