One of our podcast listeners, Arjen, asks the question, “Why don’t you recommend a full-reserve banking system instead of fractional reserve? There would be much less debt in such a system and a smaller role for the central banks.” Phil Dobbie puts the question to Prof Steve Keen, and struggles to understand why the text book explanation of fractional reserve banking is wrong, wrong, wrong.
To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a supporter of Steve Keen on Patreon at https://www.patreon.com/ProfSteveKeen
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Defamation: The Beginner’s Guide
Do you blog? Do you know the laws in relation to defamation? If not, there is a danger that you could write or say something that could land you in hot water.
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More good news, that’s actually bad news
More job openings and rising consumer sentiment – two numbers that pile on the pressure for the Fed to be more aggressive on rate rises, says JBWere’s Sally Auld on today’s Morning Call podcast.
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Market cautious over speed of recovery
Wednesday 21st April 2021
There’s a cautious mood in the markets right now, with US stocks down, with smaller caps hit particularly hard. NAB’s Ray Attrill discusses whether this is all down to a revaluation of the speed of the economic recovery. Could the tightening of credit be responsible for this? It’s hard for businesses to recover without borrowing. There’s also discussion of yesterday’s RBA minutes and the expectations for Australia’s retail numbers out this morning.
