Will somebody get this guy to shut up? He's a second rate academic from a second rate University - yet the media keep on lapping up his every words!
Zero per cent
University of Western Sydney associate professor of economics and finance Steve Keen is radically bullish on interest rates, predicting a 2% cash rate by the end of 2009, dropping to 0% in 2010.
Dr Keen said the RBA would become more concerned about high household debt levels than inflation, as deep rate cuts in 2009 failed to stimulate the economy.
''The debt bubble is bursting and when it bursts, people stop spending and borrowing,'' he said.
''They (the RBA) can cut the pain but they can't boost the economy.''
Earlier this month, the RBA cut interest rates by 100 basis points for the first time since May 1992.
Zero per cent
University of Western Sydney associate professor of economics and finance Steve Keen is radically bullish on interest rates, predicting a 2% cash rate by the end of 2009, dropping to 0% in 2010.
Dr Keen said the RBA would become more concerned about high household debt levels than inflation, as deep rate cuts in 2009 failed to stimulate the economy.
''The debt bubble is bursting and when it bursts, people stop spending and borrowing,'' he said.
''They (the RBA) can cut the pain but they can't boost the economy.''
Earlier this month, the RBA cut interest rates by 100 basis points for the first time since May 1992.