Category Archives: Credit markets

Michael M. Thomas, R.I.P

I am very much saddened by the death of Michael M. Thomas, from old money and high finance, and vocally unimpressed by them.

A Half Century Since The Beginning Of The End Of The Post WW II Economic Order

Marking the 50th anniversary of the end of the Bretton Woods economic system.

Climate Activists Target Banks’ Greenwashing in Nationwide #DefundLine3 Protests

Banks fund new oil pipelines that will generate climate pollution for decades. They are greenswahing their loans as ‘sustainability’ measures

The U.S. Shale Revolution Has Surrendered to Reality

The funding for shale production in the US has dried up as moneybags finally realize that there’s no profit to be had.

California Senate Shoots Down CalPERS’ Private Debt Secrecy Bill; Board Hissy Fit Reveals It Never Questioned Staff Misrepresentations

CalPERS is no longer being given the benefit of the doubt by the legislature, and can’t handle a request to ‘splain itself.

Michael Hudson Discusses Financialization, Rentierism, and Other Favorite Topics with Jessi Ora of Swedish Positiva Pengar Group

Michael Hudson gives another wide-ranging, tour de force interview. Enjoy!

Buyers’ Strike? Mortgage Applications Drop 8% Below 2019, as Home Buyers Get Second Thoughts about “Raging Mania”

Falling mortgage applications and rising home inventories signal a coming housing market pullback.

Wolf Richter: Oh Lordy, Yellen Comes Out for Higher Interest Rates: “A Plus for Society’s Point of View and the Fed’s Point of View”

“We want them to go back to” a normal interest rate environment.

The West’s Not Very Hidden Hand in Debt Oppression in Central Asia

How World-Bank-sponsored microlending produced widespread misery in Kyrgyzstan and Kazakhstan: debt collectors use violence.

Michael Hudson: Why Biden Won’t Cancel Student Debt

Michael Hudson gives a hard look at the typical excuses for not cancelling student debt and finds them wanting.

Known Stock Market Leverage Hits WTF High. Out the Other Side of Its Mouth, the Fed Warns About Hidden Leverage that Blew up Archegos

Stock margin debt is the visible tip of the iceberg of leverage, and it has been growing at a zoo-has-gone-nuts rate.

Bill Black: The Best Way to Rob a Bank Is to Own One (Part 1/9)

Bill Black traces the history of modern American financial fraud starting in this episode with the S&L Banking scandal.

Michael Hudson Q&A in Webinar on 4000 Years of Money and Debt

The Q&A from a Michael Hudson talk on money, debt, and economic orthodoxy.

Webinar with Michael Hudson: A 4000-Year Perspective on Economy, Money and Debt

Michael Hudson gives a long historical account of the role of debt and money as a tool for promoting prosperity and political dominance.

How Dodgy Government Accounting Fueled Rapid Rise of Federal Student Loans

Why the student loan mess is even worse than you thought.