Category Archives: Banking industry

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.

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.

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”.

TaxCast #142: Blockchain Havens

How blockchain/crypto tax havens are displacing traditional tax havens.

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.

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.

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.

“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.

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.

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

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.

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.

The Debt Explosion: How Neoliberalism Fuels Debt Crises

Radhika Desai and Michael Husdon provide a data-driven discussion of the inflating and detonation of debt bombs during the neoliberal era.

Odds of US Bank Failures Rise with Office Space Loan Losses, Fed Interest Rate Mismanagement

US bank pain: Loans for urban office buildings come a cropper as they were already suffering other interest rate losses.

Russian Asset Seizure Scheming: EU and Euro as US War Proxies Would Take Most Risk; USD Assets Only $4.6 Billion

Addressing wide-of-the-mark commentary on the latest too-clever Western idea. of stealing the $300 billion in Russian central bank assets.