Haha. How about steve keen explain to the world how so many of his predictions have not come true. He has lost all the credibility he once had with his many and outlandish predictions only to be followed with egg on his face.
This is just a desperate attempt by Steve to take the focus on how he got it so wrong, AGAIN.
At best Steve is wasting his talent on the Australian House Price saga. At worst there are well intentioned people who have been hurt by following his advice. I'm not trying to stir shit, but I don't understand how any long term follower of his can still take what he says seriously with regards to housing.
If your best mate was a true mathematical genius who studied sports bet profusely yet gave you losing tips each week, how many years would you keep using his picks?
At best Steve is wasting his talent on the Australian House Price saga. At worst there are well intentioned people who have been hurt by following his advice. I'm not trying to stir shit, but I don't understand how any long term follower of his can still take what he says seriously with regards to housing.
If your best mate was a true mathematical genius who studied sports bet profusely yet gave you losing tips each week, how many years would you keep using his picks?
Fuck it's funny how there is a bull parade after every article is posted here now. I wonder if any of you get paid or you are just genuinely this complacent. I will turn bullish for the right price. PM ME.
Housing is a very complex issue and when someone talks who is known around the world and spends their life learning about economics and has a greater understanding of it than me and you mel you should probably listen and take note of what they think even if you don't agree I know i like to listen to both sides and question everything.
Steve Keen was wrong in 2008 because he didn't get out his crystal ball to predict Kevin Rudd throwing money at the market through FHB grants but he has also been right about other big things. Just because someone has been wrong before i wouldn't discount them being correct in the future.
If everything was peachy in the housing market and the economy we wouldn't be talking about it right now. It doesn't take a Steve Keen to work that one out.
Steve Keen was wrong in 2008 because he didn't get out his crystal ball to predict Kevin Rudd throwing money at the market through FHB grants but he has also been right about other big things.
No, FHBG boost was already policy when SK made his famous bet with Rory Robertson which he spectacularly lost. His problem was he didnt think grants, low interest rates (he predicted ZIRP), or anything else would impact the AU housing market positively. Basically his model is wrong, that's why his calls have been wrong. He was as wrong as it was possible to be.
Can you name even a single call re AU house prices that SK got right? How about re the AU economy even?
No, FHBG boost was already policy when SK made his famous bet with Rory Robertson which he spectacularly lost. His problem was he didnt think grants, low interest rates (he predicted ZIRP), or anything else would impact the AU housing market positively. Basically his model is wrong, that's why his calls have been wrong. He was as wrong as it was possible to be.
Can you name even a single call re AU house prices that SK got right? How about re the AU economy even?
WHAT HE’S GOT RIGHT
The global financial crisis. Keen warned of a global recession back in 2005, which he said would occur when the rate of credit growth slowed. He was awarded the Revere Award for Economics in the US for this prediction.
WHAT HE’S GOT WRONG
Unemployment hitting 10 per cent in Australia as a result of the GFC.
WAIT AND SEE?
House prices falling 40 per cent by 2023. Despite reports that Keen said prices would crash – and an ill-advised bet on prices falling in a shorter time scale – his initial predictions were always for Australian property prices to fall by 40 per cent over the next 10 to 15 years. Time will tell.
Steve Keen was wrong in 2008 because he didn't get out his crystal ball to predict Kevin Rudd throwing money at the market through FHB grants but he has also been right about other big things.
Oh dear, do people still believe that?
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
As I have been corrected he knew about it but didn't think it would work which it did - temporarily.
Anyways enough about his credibility as he is more than credible and widely respected around the world. Maybe not as much in Australia but hey. Let's not derail the original topic and talk about the same shit over and over.
The global financial crisis. Keen warned of a global recession back in 2005, which he said would occur when the rate of credit growth slowed. He was awarded the Revere Award for Economics in the US for this prediction.
Recessions accompanied by slowing credit growth are not unusual... it's hardly a big deal to predict there will be another one sometime in the future.
I predict there will be another one in the future. Can I get a Revere Award for Economics if I'm right?
Quote:
WHAT HE’S GOT WRONG
Unemployment hitting 10 per cent in Australia as a result of the GFC.
Steve Keen has made many wild predictions and bad calls about the Australian housing market and economy.
They have all been wrong (see below). Can you think of any predictions about Australia that Keen has got right? Any?
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