Heatwaves Ripple into the Financial System
Heat stress affects the financial system by increasing defaults and producing tighter lending terms to others in the same area.
Read more...Category Archives: Banking industry
Status of Banks’ Unrealized Losses in Q1: Worsened After Brief Rate-Cut-Mania Relief
US banks are still sitting on losses, with Fed relief nowhere in sight.
Read more...New Palestine Protest/Free Speech Threat: House Oversight Committee Targets 20 Pro-Palestinian Organizations, Such as Bill & Melinda Gates Foundation, Demanding Treasury Produce Suspicious Activity Reports, Including on Employeees
A new salvo against designated enemies, aka Palestinian rights advocates, which fortunately is more bark than bite.
Read more...Michael Hudson: Parallels Between Archaic Entrepots and Modern Offshore Banking Centers
There is perilous little that is novel in modern finance. Our offshore, as in tax havens, have analogues in the ancient world.
Read more...UK Banks Will Go Bust Because of Climate Change
The UK has low-lying terrain that has nevertheless been developed and will go underwater with climate change and take a lot of banks with it.
Read more...Are the BRICS and Their New Development Bank Offering Alternatives to the World Bank, the IMF?
An assessment of how far BRICS has gotten in creating new monetary arrangements and institutions. The short version is “not very”.
Read more...TaxCast #142: Blockchain Havens
How blockchain/crypto tax havens are displacing traditional tax havens.
Read more...How Banks and Investors Are Fueling a Global Biodiversity Crisis
Commercial financial flows to the forest-risk commodity sectors are driving the majority of tropical deforestation and biodiversity loss.
Read more...Mortgage Rates over 7% and Heading Higher, Housing Market Still Frozen, Lots of Buyers on Strike as Prices Still Too High
The US housing market is stalled, yet Biden fans insist that, economy-wise, we live in the best of all possible worlds.
Read more...China’s Local Government Financing Vehicles (LGFVs): Ponzi Finance on Steroids
How China’s local government financing vehicles (LGFVs) became China’s most complex economic challenge.
Read more...“On a Relative Scale, There’s a Strong Case that Financialization Is Worse in the PRC than the US”
On a relative basis, China is more financialized than the US which is not a pretty picture.
Read more...Financial Crises and Tax Havens
Tax havens not only facilitate tax evasion and corruption in ‘normal times’, they also harbour funds during economic crises, slowing down recovery.
Read more...Michael Hudson: Marxism, Economic Parasites, and Debt Cancellation
Michael Hudson in a bracing talk, including history of crises, the role of debt, and how ancient Greek and Roman law promoted inequality
Read more...Orbán Outfoxes the EU in Nationalism vs. Technocracy Fight
The ongoing drama between Budapest and Brussels over Ukraine and the “rule of law” is really about who gets to control Hungary.
Read more...Global Economy’s Momentous Shift and Monumental Inequality
An in-depth yet lively debunking by Richard Wolff and Michael Hudson of Panglossian depictions of the state of the US economy and society.
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