Coffee and a Mike Professor Steve Keen #1362
Apr 21, 2026
Professor Steve Keen, economist who predicted the 2008 crash, discusses China’s rapid infrastructure-led innovation and how state policy enabled private growth. He analyzes global risks from Middle East conflict, supply-chain and fertilizer shortages, and critiques US geopolitical tactics. Keen also frames AI as a Schumpeterian bubble with lasting tech despite a looming crash.
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Middle East Conflict Accelerates Global Power Shifts
- The Middle East war creates short-term winners: Russia via reduced oil supply, the US via LNG sales, and strategically China by exposing US logistical and supply weaknesses.
- Keen argues depleted US weapon stockpiles and Chinese control of rare earths weaken American long-term strategic position.
US Tactics Are A Mafia Shakedown That Destroys Credibility
- Keen calls recent US actions a 'mafia shakedown' and suggests they serve as pump-and-dump moves that manipulate oil prices for short-term political gain.
- He warns such tactics destroy US credibility and risk provoking retaliatory escalation from Iran.
Ban Private Election Money And Publicly Fund Parties
- Remove private money from elections and fund parties with government-created money to reduce bribery and the dominance of narcissistic, lobby-funded candidates.
- Keen suggests conditioned public funding for new parties and penalties if they fail to meet stated vote targets.