Greenspan Sees Next Recession Driven by `Dramatically' Rising Debt

The video discusses the desire for clear economic predictions, highlighting the challenge of predicting recessions, which have occurred every seven years on average since World War II. It explains that these recessions are driven by rising factors that self-perpetuate. The concept of stagflation, a period of high unemployment and inflation, is explored, noting its contradiction to the original Keynesian model. The video suggests that we may be entering a similar period now.

Why did the speaker wish for a one-handed economist?

• To get more balanced views

• To avoid indecisive answers

• To receive more optimistic predictions

• To have a more humorous conversation

What is the average frequency of recessions since World War Two?

• Every 5 years

• Every 7 years

• Every 10 years

• Every 12 years

What is expected to drive the next recession according to the speaker?

• Technological advancements

• Global conflicts

• Rising factors and self-sustaining curtailments

• Government policies

What economic condition from the 1980s is discussed in the transcript?

• Hyperinflation

• Stagflation

• Deflation

• Economic boom

What did the original Keynesian model say about unemployment and inflation?

• They could not both be high simultaneously

• They could both be low simultaneously

• They could both be high simultaneously

• They are unrelated