Michael Hudson: The Coming Savings Writedowns
Michael Hudson’s latest: Debts that can’t be paid, won’t be. When debts can’t be paid and debtors default, what happens to these creditors?
Read more...Category Archives: Banking industry
Libra – Freedom for Whom, from What?
What is Libra supposed to bring to us that we don’t have already? Freedom from legacy currencies will have a high price to pay.
Read more...Syriza, R.I.P.
The rule of the “radical left” Greek party Syriza came to an end earlier this month after it had abandoned its promise of reform.
Read more...Banks Again Hoist on Their Cost-Cutting Petard: Burgeoning Credit Card Fraud
Credit card companies are paying for their stinginess via being exposed to rapidly rising levels of fraud.
Read more...Deutsche Bank Highlights a Society at Risk
Why the erosion of personal standards has become a collective risk.
Read more...Michael Hudson: De-Dollarizing the American Financial Empire
Michael Hudson on how the US was able to turn its change from creditor to debtor to its advantage.
Read more...PG&E Neglected Maintenance for Years Despite Known Fire Risk; Judge Demands Prompt and Clear Answers to WSJ Expose
A Wall Street Journal expose of PG&E’s willful failure to maintain its transmission lines, directly tied to California’s most lethal fire, led a judge to demand answers.
Read more...Mr. Market and the Press Diss Deutsche Bank’s Turnaround Plan
A hard look at Deutsche’s restructuring plan reveals a lot not to like
Read more...Deutsche Bank Throws in the Towel, Announces Restructuring into Bad Bank/Good Bank, Firing of 18,000
The beginning of an end for Deutsche Bank.
Read more...The Global Capital Flows Cycle and Its Drivers: Not Only a US Monetary Policy Story
Financial shocks matter more than US monetary policy. Domestic policies may still mitigate the cycle of global capital flows at the country level.
Read more...Where Brexit Goes, the Law Shall Follow
Rather than a unified mass transition out of London to another singular hub, the financial industry is using Brexit as an opportunity to diversify. And lawyers are moving to Dublin.
Read more...Facebook’s New Libra Digital Currency, Trust Issues (Many), and Sovereignty
Trust issues with Facebook’s Libra for users, regulators, and technically. And is Facebook seeking to become a sovereign?
Read more...How Italy Could Save the Euro
Italy is again threatening the Euro via a plan to introduce a parallel currency, the mini-BOT. Will this idea finally push the Eurozone to make overdue reforms?
Read more...Bad Loans Still Too High at Eurozone Banks, ECB Warns
The ECB is concerned that the latest fix for bad loans still leaves banks in a weakened state.
Read more...Seventeen Ways to Think About the Finance Curse
A recap of the issues surrounding the Finance Curse, the advanced economy economy analogy of the resource curse.
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