Category Archives: Free markets and their discontents

Groundhog Day for NZ FSPs: Bryan Cook of Asia Finance Corporation is a Crook, but Does NZ’s FMA Care?

Why is it Groundhog Day? Back in 2011, I wrote a seriously messy blog post about dodgy New Zealand FSPs (Financial Services Providers), their dodgy web sites and people and addresses, and the evidently nonexistent oversight of all of this by the NZ Ministry of Economic Development and the NZ Companies Office. To my surprise, […]

Read more...

Banks are Not Intermediaries of Loanable Funds – and Why This Matters

Problems in the banking sector played a seriously damaging role in the Great Recession. In fact, they continue to. Macroeconomic models failed to explain the interaction between banks and the macro economy. The problem lies with thinking that banks create loans out of existing resources. Instead, they create new money in the form of loans. The traditional model greatly understates bank and macroeconomic risk.

Read more...

TPP: Don Beyer (D-VA) Puts “Free Trade” Above National Sovereignty and Democracy

Debunking “free trade” and other spurious defenses of the multinational enrichment, democracy stripmining programs known as the Trade in Services Agreement, the TransPacific Partnership, and the Transatlantic Trade and Investment Partnership.

Read more...

Memo to Readers: If You Want to Beat Big Finance, You Need to be Able to Take the Fight to Their Terrain

We are now 35 years into a finance-led counterrevolution. If you care about income inequality, student loan debt slavery, foreclosure abuses, and other products of the success of this effort, it behooves you, as Sun Tzu urged, to understand your enemy.

Read more...