Are we heading for an economic crash, one, caused by the AI, artificial intelligence bubble?

Well, there's no better person to speak to because the vast majority of economists, I'm afraid

to say, did not see the 2008 financial crash coming. It was a massive shock to the vast majority

of the profession, as well as politicians.

There was an exception though.

And the exception is joining me today as Dr. Steve Keene, who is an incredible economist,

but also honorary professor at UCL and amongst his other hats, lots of other hats.

Great to see you, Professor Steve Keane, I should say.

How you doing?

Good to be back again. We've spoken once before. I went almost a decade ago, so it's good to be back in touch again. Oof, blind me. A lot has happened. I know I remember. Yeah, like, what's a great here for me, yeah, yeah. Let's start, because we'll talk about AI and a possible looming crash.

But you, as I've said, you predicted the 2008 financial crash.

Why did you see that coming?

And, you know, what was it you saw in advance that other people did not see?

Well, the fundamental thing I saw as the role of credit in causing birth booms and bust in capitalism.

And the reason the mainstream doesn't see this is that they have a model of banking, which is a

myth.

It's called loanable funds.

And what they pretend is that banks don't actually lend money.

Instead, what banks do is they act like intermediaries.

You probably know this joke. Most people don't get it. But I call the conventional model of banking

the Ashley Madison theory of banking. You get the reference? I don't know. I don't know if it

still exists, but it was a website that they'd married people, fuck other married people that they weren't actually married to. And so Ashley Madison didn't

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