Thanks to Monarch for partnering with me! Start your free trial and get 50% off your first year of total money clarity using my link https://monarchmoney.yt.link/YpSHnHr or code tb50 for 50% Off Monarch Core tier. Netsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory. Built for every industry. Ready for every boardroom. Special Thanks to Steve Keen: https://www.youtube.com/watch?v=28Gf4f-hIUc Welcome to Impact Theory with Tom Bilyeu. In today’s episode, we dive deep into the economic insights of Professor Steve Keen—a renowned economist who famously predicted the 2008 financial crisis. Keen challenges mainstream economic models and reveals the fundamental misconceptions that lead economists to repeatedly misjudge the state of the economy, especially when it comes to debt. We’ll unpack why conventional wisdom about government and private debt is dangerously flawed, explore the real mechanics of money creation in modern economies, and explain why ignoring private debt can leave entire nations blindsided by financial turmoil. Along the way, we’ll touch on provocative ideas like debt jubilees, the dangers of unchecked debt cycles, and the delicate balance between innovation, lending, and inflation. Strap in as we question what you really know about economics, challenge widely held beliefs, and uncover the models shaping your financial future—whether you realize it or not.