Michael Hudson spoke with Max Keiser about what he calls “fictitious capital” which is essentially lending backed by inadequate capital, such as collateral that has fallen in value. This is an idea he has explored in his previous papers, such as “From Marx to Goldman Sachs” and now in his new book, The Bubble and Beyond. For German readers, Hudson was also interviewed in FAZ.
- Links 12/21/13 - 12/21/2013 - Lambert Strether
- Obama Exempts “If You Like It You Can Keep It” Cancelees from the Individual Mandate - 12/21/2013 - Lambert Strether
- Vincent Huang: On the Nature of Money - 12/21/2013 - Lambert Strether
- Links 12/20/13 - 12/20/2013 - Yves Smith
- The Fed’s Taper and Market Fealty - 12/20/2013 - Yves Smith