Mazinski moment?

[Agorism]

Ok it's a "Minsky Moment" I could barely hear what he said.

I saw max keiser talking about a Minsky Moment. Anyone know of this concept.

Wikipedia says that the Minsky Moment parallels Austrian business cycle theory.

Interest on the debt exceeds the GDP of the country, in this case the globe, and you go into a massive deflationary debt implosion (http://en.wikipedia.org/wiki/Minsky_moment)

YouTube - Greece, Gold and Financial Terrorism - Freedomain Radio Interviews Max Keiser (http://www.youtube.com/watch?v=Sq5j0ba034M)

edit
and here is another video on the concept:

YouTube - Rob Parenteau: Minsky Moment (http://www.youtube.com/watch?v=wogH8RaF8yU)

[Agorism]

bump

[hugolp]

Minsky is similar to austrians but hiding that the fault of the imbalances is the money manipulation. Minsky had a keynesian/neoclasical base, so he failed to see the effects of money manipulation, and because of this he arrived at the conclusion that the finantial system was inherently inestable.