Watch time of this interview with Professor Steve Keen is 7 mins...you might need to watch it twice though, as this guy's brain is the size of a planet...well I did anyway!
Having just posted about 'good debt' and 'bad debt', if Steve Keen's predictions (he predicted the 2008 crash) and ideas (he suggests switching printing money away from QE asset purchases into personal debt reduction and business investment instead) are correct...then I guess we should consider our contingency plans?
Some say gold and other precious metals in the event of an asset price crash event (e.g. house price bust) - after all they are limited in supply and have an established tangible, trade-able value. I am not so sure, but perhaps having (non-banking) shares and (ironically) personal debt could be the answer...but wouldn't that also be the same speculation that Steve is warning against?
I don't know...should I be a lemming, an ostrich or an eagle...right now to me, the eagle sounds like the best option...rising above it all...?
Source & credits: Every Investor