A Hard Look at Rent and Rent Seeking with Michael Hudson & Pepe Escobar
An in-depth discussion of financial capitalism versus earlier models and the Chinese and Russian approach, with a focus on the role of rent.
Read more...Category Archives: Banking industry
Polarization, Then a Crash: Michael Hudson on the Rentier Economy
Michael Hudson discusses the chokehold of pro-finance, pro-rentier capitalism reaching into the present COVID-19 crisis.
Read more...Larry Summers’ Opposition to $2000 Covid Payments Confirms Our Classic: “Why Larry Summers Should Not Be Permitted to Run Anything More Important than a Dog Pound”
Larry Summers is at it again.
Read more...China Retrenches on Belt and Road Initiative as Defaults Rise
More on “Whither China?”
Read more...City of London Frets About Life After 2020
The City’s vast financial services sector benefited hugely from the creation of the euro. Now, a large part of that business is at risk.
Read more...Macroeconomics, Money (MMT Style) and Post-Brexit Recovery, All in One Twitter thread
Money, lending, government spending, QE….all explained in one tidy post!
Read more...Is It Time for a Debt Jubilee?
Steve Keen and Micheal Hudson provide a deep dive on a debt jubilee, and how it could be implemented in a Covid-afflicted economy.
Read more...Rana Foroohar and Mark Blyth on Democrats Trying to Please Too Many Money Masters at Once
The Democrats will soon decide which campaign promises will be ignored or walked back. Sandernistas, brace yourselves.
Read more...This Is What Can Happen When a Cross-Border Bank Merger Goes Horribly Wrong
As Banco Sabadell’s disastrous acquisition of UK TSB has shown, a bank merger can founder due to botched IT integration.
Read more...Big Banks Grow Bigger and Smaller Banks Disappear, As Mergers Return to Crisis-Hit Eurozone
A fresh wave of bank failures and mergers are set to trigger a new round of consolidation of the Eurozone’s banking system
Read more...Michael Olenick: How Biden Could Tackle the Student Loan Crisis
Biden could resort to a simple bankruptcy fix for the student loan mess. But would he?
Read more...Regulating Fintech in Europe: Lessons from the Collapse of Wirecard
Since Fintech companies can be very complex, their oversight requires understanding their business model and combining regulation and supervision based on both entities and activities.
Read more...China Takes Step Against Securitization, Consumer Borrowing With Suspension of Ant IPO
With its smackdown of Ant and its billionaire founder Jack Ma, China has made clear that financiers do not call the shots.
Read more...Michael Olenick: The Real Origins of Trump – The Foreclosure Crisis
The foreclosure crisis was a key element of Trump’s win in 2016, yet the Democrats are still in denial about its costs.
Read more...Citi’s Recidivist Rule-Breaking and Incompetence Shows Persistence of Too Big/Complex to Fail Problem
Citi’s latest run-in with regulators shows why comparing big banks “too big/complex to fail” problems to those of Big Tech is all wet.
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