Category Archives: Credit markets

Good Riddance, Alan Greenspan

Cataloguing some of the less-well recognized ways that Alan Greenspan did tremendous harm to the financial system and citizens at large.

Michael Hudson: Debts That Cannot Be Paid Won’t Be

R. C. J. Cranstoun spoke with Michael Hudson on debt, rentierism, and the geopolitical rift around sanctions, energy, and the dollar system

Iran War: Trump-Netanyahu Dust-Up Over Negotiations – Bona Fide or Deception? Oil Speculators Cheer Three Supertankers Leaving Gulf, as Continued Bond and Financial Market Decline Seems Likely

Today’s Iran war news: Some oil leaving the Gulf gave markets a boost, but the US-Iran impasse remains, along with US attack threats.

Michael Hudson Warns: Imminent Economic Catastrophe – War, Oil Crisis & Bond Market Panic

Michael Hudson explains how the financier-friendly medicine of higher interest rates will only make the impending economic crisis worse.

China’s Real Estate Reckoning: Lessons from Japan’s Lost Decade

China is still suffering a real estate bubble hangover, with a lot of symptoms similar to Japan’s deflation.

Michael Hudson: US Economy is Based on a Ponzi Scheme

Michael Hudson explains the dangers and costs of Wall Street’s Ponzi schemes.

Satyajit Das: BNPL – Buy Now, Pain Later

A look at the economics of the hot new way to create yet more debt slaves: BNPL, as in buy now pay later loans.

Michael Hudson and Steve Keen: How the Global Crisis Will Unfold

Michael Hudson and Steve Keen: discuss how the Iran war economic crisis will generate inflation first, and then deflation and depression.

Easing Capital, Reviving Risk: The Quiet Return of Too Big to Fail

Less capital, more risk. The latest move on big-bank rules suggests that too big to fail was never solved, only deferred.

Iran War: Trump Issues 48 Hour Unhinged Ultimatum to Iran; Iran Vows Mass Destruction Countermeasures; Israel Takes Hit to Dimona Area, Other Blows After Second Firing on Iran Nuclear Reactor Site ; More Warnings of Deep Damage from Strait of Hormuz Closure, LNG Reduction Effects

Today’s Iran war update: Trump threatens action which will lead to Iran retaliation that will destroy the world economy. Will he proceed?

Michael Hudson: Persia’s Monopoly Concessions to Britain, 1872-1901

Persia’s 19th century fight to drive out the British investors who had obtained monopoly concessions is background to the current crisis.

Rob Urie: No Exit – How Obama’s Bank Bailouts Produced Trump

Profiling the Democratic Party’s doom loop, starting with the Obama “get out of jail free” cards to financiers after the crisis.

Michael Hudson: Destiny of Civilization – Financialization & Collapse

Michael Hudson explains how industrial capitalism was radical in aiming to free economies and markets from rent-seeking and financialization.

The Finance Curse Is Killing Britain

A well-warranted harsh look at the high cost an overly-large and ever-more-extractive finance sector imposes on society as a whole.

Bitcoin/Crypto Crash Captures Headlines as Potentially More Serious Tech-Driven Debt Retreat Progresses

As much fun as it is to watch Bitcoin swoon, a more serious erosion is underway on the big tech borrowing front.