Brexit: Fear, Loathing, and Anger on Both Sides of the Channel
Politicians in the UK and the EU are virtually at each other’s throats over Brexit.
Read more...Category Archives: Banking industry
The Sterling Depreciation of 2007-2008 and Its Implications for Brexit
The unexpected impact of the fall in sterling in 2007-2008 suggests Brexit could produce a drastic drop in UK living standards.
Read more...Brexit: The Crisis Begins
The Brexit vote was a stunning repudiation of neoliberalism and austerity. But what comes next?
Read more...Michael Hudson: Socrates on Debt and Ibn Khaldun on the Cyclical Rise and Fall of Societies
Socrates described how the use of debt by the elite to strip the lower orders of their property sets up revolutions.
Read more...Sanders Has Leverage But Clinton Will Never Bargain
Clinton can offer nothing meaningful to Sanders and his supporters, and therefore Sanders has no reason to capitulate. Not hard to understand unless you are committed to not understanding that.
Read more...How Financial Crises Produce Political Polarization
Financial crises move the struggles between debtors and creditors into the political sphere.
Read more...Do You Vote Democrat As A Default Position? BIG Mistake!
A list of Congressional Democrats on the Wall Street meal ticket.
Read more...North Carolina Threatens to Cancel Toll Road Project, Showing Political Risk of Infrastructure Deals
North Carolina’s House has voted to exit a toll road deal despite high expected cancellation costs.
Read more...Chaos Theory, Shocks, and Fragility, Australia and Elsewhere
Australia and other countries had the opportunity to reduce financial fragility. They may soon discover the cost of doing too little.
Read more...HR 5424, “Investment Advisers Modernization Act,” a “Get Out of Madoff and Other Frauds for Free” Bill, Passes Financial Services Committee
HR 5424, intended to make life even easier for potential securities law abusers, got considerable support from Democrats on the Financial Services Committee.
Read more...Wolf Richter: These Debt Slaves are the Government’s Largest Asset Class, and It Will Haunt the Economy for Years
Student debt isn’t just a millstone around young people’s necks; it’s weighing down the economy.
Read more...Need a Loan in China? Hand Over a Nude Photo
Lender demands in China as a sign of credit stress.
Read more...Elizabeth Warren Slams SEC’s Mary Jo White for Putting “Information Overload” Project Ahead of Dodd Frank Rulemaking
Elizabeth Warren and Mary Jo White cross swords again…but how effective can Warren be after she hitches her star to Clinton?
Read more...And Now, Price Deflation in India and China?
Price deflation, and classic debt deflation dynamics, are staring to appear in India and China.
Read more...Global Money: A Work in Progress
Bagehot outlined some of the requirements for global money. Are we closer to a solution?
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