Category Archives: Banking industry

To Fight the COVID Pandemic, Policymakers Must Move Fast and Break Taboos

To combat COVID-19, central banks, including the ECB, must cross the Rubicon of monetary financing and immediately transfer the 20%-30% of GDP this will cost into fiscal coffers.

The Federal Reserve’s Coronavirus Crisis Actions, Explained (Part 5)

Muni purchases are finally here

The Use and Abuse of MMT

Using government spending power to bail out financiers and rentiers makes a travesty of MMT.

The Coming Debt Crisis

Emerging market economies loaded up on debt after the crisis, which is now looking like a particularly bad move.

New York Fed, FDIC Tout “Opacity in a Banking Crisis” to Keep Corporations, Hedge Funds, PE Firms & Counterparties in the Dark about Weak Banks

An article by Fed and FDIC researchers argues for hiding banks’ dirty laundry. Too bad the authorities didn’t make banks shape up instead.

India’s Poorest Now Have Access to Basic Bank Accounts, and Many Already Received their First Cash Stimulus Payment By Last Saturday; Meanwhile the IRS May Get You Your $1200 Check in Five Months

A tale of two stimuli: the Modi government has already made some direct deposits; some Americans will wait five months to receive checks.

Coronavirus: More Wheels Coming Off

Some scattered but nevertheless telling signs of coronavirus impact.

Debt and Power: An Interview With Michael Hudson

Micheal Hudson explains how the ancient approach to managing debt is far superior to ours.

At Long Last the Government Can Borrow Straight From the Bank of England – As Modern Monetary Theory Has Always Suggested It Should

The UK embraces modern monetary theory….and perhaps hopes no one notices.

Global Level 4 Travel Advisory: Stealth Subsidy for Insurers?

The State Department’s global level 4 health advisory,recommending US citizens not travel internationally, has travel insurance implications.

Debt and Financial Crises: Will History Repeat Itself?

Unhappy families may all be different, but financial crises are pretty much the same, rooted in debt overhangs, and one has been brewing.

Coronavirus Means Zero Hour for the European Union

Germany’s long-standing practice of muscling the European Union to serve its own ends now risks dissolution and a banking system crisis.

The Fed Backfires: Shock and Awe Rate Drop to 0%, Emergency Bond Buying Program Leads to Limit Down Drops in US Equity Futures as Real World Coronavirus Damage Worsens

The Fed just told everyone to assume the brace position.

Why You Should Stop Using or Cancel Your Citi Mastercard: Systematic Violation of Cardmember Chargeback Rights, Insistence on Using Fraud-Friendly Voiceprints

Citi is doing a number on its own and the Mastercard brand name with cringe-makingly inept and dishonest credit card operations.