Should government pay off our debts?

Economist Steve Keen says we are already in another Great Depression. He advocates bankrupting the banks, nationalising the financial system and paying off people's debt.

Economist Steve Keen is one of the few economists to have predicted the global financial crisis and now he says we are already in a Great Depression. He says the way to escape it is to bankrupt the banks, nationalise the financial system and pay off people's debt.