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The economist who called the 2008 financial crisis years before it hit is back with a far more urgent warning: we are sleepwalking into a global correction much larger than the Great Recession.
What does Professor Steve Keen see that the rest of the world is missing?
Today on The Diary Of A CEO, I’m joined by Steve Keen—the renegade economist and author who has spent decades dismantling traditional economic theory. Steve’s work doesn't just look at numbers on a screen; it focuses on the raw mechanics of debt, energy consumption, and the physical constraints of the real world that mainstream models often ignore.
In 2005, Steve was one of the few voices warning that skyrocketing private debt would trigger a global collapse. History proved him right. Now, he’s sounding the alarm again, arguing that the collision of geopolitical conflict, energy scarcity, and rapid technological disruption is creating a "polycrisis" we are dangerously unprepared for.
Throughout this conversation, we challenge the fundamental assumptions of modern life—like the myth of endless growth and the illusion of stable supply chains. If our entire system is built on foundations that no longer hold, the risks we face aren't just temporary cycles; they are structural failures.
We discuss:
The Global Food Crisis: Why a widespread famine could arrive much sooner than anticipated.
The 2027 Job Market: The specific industries and roles Steve believes will be obsolete within three years.
The Death of Entry-Level Work: Why the traditional career ladder is being dismantled in real-time.
The True Cost of War: The long-term economic fallout of current global conflicts that isn't being reported.
This episode isn't just a series of predictions; it’s a masterclass in how the world actually functions under extreme pressure. If you want to understand the collision of economics, energy, and AI, this is a conversation you cannot afford to miss.
Watch the full episode and let me know your thoughts in the comments.
#TheDiaryOfACEO #SteveKeen #Economics #GlobalCrisis #FutureOfWork #EnergyCrisis

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Transcript
00:00So there are five scenarios in which the war could end because Trump is stupid enough to
00:04take on what Israel wanted to do, which was destroy Iran, but they've bitten off far more
00:09than they can chew. So scenario one is Iran destroys the Gulf power infrastructure. I think
00:13that's highly likely. And if that happens, then Saudi Arabia, Qatar, Dubai, they'll become
00:18uninhabitable. And then scenario two, Iran disables Israel's nukes. I hope that happens,
00:24but there's this one. And it scares the shit out of me.
00:27Professor Steve, I have so many questions. What is going on?
00:30So this war is threatening everybody on the planet. And what Trump is doing at the moment
00:34is a pump and dump scheme. He's trying to drive up the oil price and exploiting it for his friends
00:38and for his own wealth in the process. So people are focusing upon the price of this. But the
00:42really important point is this, the Strait of Hamas. So oil, fertilizer, helium, all have to pass
00:48through the Strait of Hamas. And Iran have blocked that gap.
00:51So they can say, you do or do not pass, depending on your country's attitude towards our country.
00:56And it's quite terrifying because 20 to 30 percent of our fertilizer comes through this
01:00point. But if this is not available, the globe has a famine.
01:03Do you think he will send ground troops in?
01:04Yes, I do. But I'd hate to be one of those troops because it's a suicide mission.
01:08They've got underground military units of weapons and troops, but we have no idea of the scale.
01:13Trump keeps saying that the war has been won.
01:15Yeah.
01:15What's going on there in your view?
01:16I think he's been fed propaganda to tell him that he's winning the war by his immediate advisors
01:22because you cannot tell a person like that that they've made a mistake.
01:25We'll talk about that as well.
01:26But you've developed a bit of a reputation because you're very good at predicting things.
01:29So which of these five outcomes do you think is most probable to happen?
01:34Oh, God.
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