Groupthink is killing the economy: We need a Copernican revolution in economics: Prof. Steve Keen

Friday 20th Febuary 2015

BCfm’s weekly politics show presented by Tony Gosling

At five – discussing the big stories in Bristol, Britain and around the world
After six –
 straight talking and investigative reports with Martin Summers

Listen live

First hour: News review: with Green councillor for Ashley ward Rob Telford. Green Party MP candidates; basic income – Green Party fully costed manifesto before election; Joanna Yeates’ murderer Vincent Tabak was addicted to violent pornography and child pornography. major motive apparently behind the murder but not mentioned at his trial, neither was the fact that he murdered Joanna Yeates mentioned in this week’s story about his child porn prosecution; local journalism not so good – covering the Bristol budget, council tax up 2%, Bristol 24/7 takeover by investors and publishers Dougal Templeton, Mike Bennett (@MikeB_Bristol). Chris Brown who was forced to resign after ‘cafe reviewer’ Martin Booth was appointed editor over his head late in 2014; residents parking; Peter Oborne quits the Daily Telegraph, for not publishing stories about HSBC – Telegraph took down story on HSBC accounts ‘black hole’, says Peter OborneFormer chief political commentator says in resignation letter he learned Harry Wilson’s article was swiftly removed ‘even though there were no legal problems’ Here is the HSBC £50bn fraud story they took down! HSBC faces £70bn capital hole, warn Hong Kong analysts Research firm Forensic Asia calculates that HSBC has overstated the value of the assets on its balance sheet by more than £50bn. Clip of Oborne on BBC 5 Live; clip from documentary ‘Saving Syrias’ Children’ 2013 – chemical attacks in Syria, Robert Stewart complained and appealed about deliberate deception at the BBC – lost; new British Army cyber warfare battalion – psychological warfare; every robot porter at Southmead Hospital costs £80,000, what happens when there’s no jobs left, like now? Driverless cars; clip of Ed Miliband’s speech about ‘upskilling’. David Cameron’s speech – community work for benefits, effectively working for nothing; police now trying to charge protesters for policing demonstrations; new prevent programme which could turn Britain into a police state; terrorism; drug addicts, alcoholics and obese to have benefits removed if refuse treatment.
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BCfm audio file
Radio4all audio file


Second hour: Investigative reports: Economist Prof. at Kingston University Steve Keen, Time for a Copernican revolution in economics, his blog ‘Debt Deflation‘. Steve’s book, Debunking Economics: The Naked Emperor Dethroned? Interview with Steve Keen, economist at Kingston University, and proponent of a Copernicus revolution in economics – a different view to the present status quo:  economies basically unstable;  consider banks, debt, and money when analysing economy;  mathematical rigour to theories;  QE – best to put money into personal accounts not banks;  deflation; crash – Eurozone, China, USA;  debt jubilee;  Greece and Syriza;  Leon Walras contrasted with Hyman Minsky;  Black-Schoeles Theorem – Long Term Capital Management; Benoit Mandelbrot;;  book – ‘Debunking Economics’.  Likely to be not a ‘crisis’ like 2008 but an enormous crash in the future. Ukraine:  cease fire; 1 year on from Maidan coup in Kiev; no-one reporting as a military coup; Umas Piet and Catherine Ashton phonecall discussed fascist snipers; fascist Pravyy Sektor’s pro-Nazi politician Andriy Parubiy was controlling area of snipers; NATO intelligence doing support work for the coup. Possibly British snipers doing the killing? Ukraine. Copenhagen terror attack: NATO send in assassins or basket cases then killing patsy ‘suspects’ in Canada, Sydney, France & Denmark. Oil prices and  Earth First winter moot in Bristol this weekend.  Coups in Venezuela, Yemen. Argentina want an independent judiciary.  Terrorism:  Charlie Hebdo, Ottawa, Sydney, Copenhagen; Turkish Ergenecon Ergenekon Network. David Powell from South West Friends of the Earth discusses further delays to Hinckley Power Station, fracking, and geo-political effects of oil prices on Russia and hidden energy grab motives in almost all conflicts. This weekend direct action group Earth First! has its winter moot in Bristol Indra Donfrancesco discusses pitfalls and successes of taking direct action, the new £15bn roads programme, breaking the law peacefully when the law works against the social good. “The CIA, following the directives of its government, wanted to create an Italian nationalism capable of halting what it saw as a slide to the left and, for this purpose, it may have made use of rightwing terrorism,” Gen Maletti told the Milan court. “I believe this is what happened in other countries as well.” General Gianadelio Maletti describes Operation Gladio in Italy where CIA aided fascists killed hundreds of innocent people
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BCfm audio file (+)
Radio4all audio file


Investigative Journalist

Posted in Politics Show with Tony Gosling

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