More on Frank Partnoy’s Misguided Take on Collateralized Loan Obligations
No, collateralized loan obligations are not about to wipe out banks, and Frank Partnoy should have focused on real risks, like destruction of productive capacity.
Read more...Category Archives: Credit markets
The European Union Still Hasn’t Considered an Economic Proposal That Can Save It
The European Union has not reached a “Hamiltonian moment.” Its plans are too little, too late, hamstrung by institutional barriers to economic recovery.
Read more...Michael Hudson: Fed’s $10 Trillion Defends Assets of the Rich
Michael Hudson gives a detailed, if sobering, account of the outlook for the economy.
Read more...The Federal Reserve’s Coronavirus Crisis Actions, Explained (Part 7)
This is part 7 of my ongoing coverage of the Federal Reserve’s Coronavirus actions.
Read more...Wall Street’s Useful Idiot: Financial Times Shills for CLOs….as Fed Hasn’t Bailed Them Out
A major story on the CLOs chooses not to address the key questions.
Read more...US Commercial Real Estate Prices Plunged in April, Mall Prices Collapsed
Looking at the bloodbath in commercial real estate…..and worse is almost certainly in store.
Read more...Coronavirus To Decimate Colleges and Universities
US universities are facing a world of hurt.
Read more...Don’t Do It Again! The Swedish Experience With Negative Central Bank Rates in 2015-2019
Why negative interest rates were a bust.
Read more...Modigliani Meets Minsky: Rising Inequality and U.S. Household Debt Since 1950
Yves here. This short piece looks at some of the intuitions about the relationship between rising household debt levels and increasing inequality. And they sure do look to be connected! By Alina Bartscher, University of Bonn, Moritz Kuhn, Professor, Department of Economics, University of Bonn and Moritz Schularick, Professor of Economics, University of Bonn. Originally […]
Read more...The Federal Reserve’s Coronavirus Crisis Actions, Explained (Part 6)
What the Federal Reserve has been up to lately, such as bailing out the shale gas industry.
Read more...Fed Drastically Slashed Helicopter Money for Wall Street. QE Down 86% From Peak Week in March
Keeping tabs on Fed munificence.
Read more...More Public Pension Fund Pain: LACERS Reports Hit to Liquidity from Private Equity Capital Calls; Are Fund Managers Exploiting the Dumb Money Yet Again?
Private equity firms are sucking cash out of their limited partners at the worst possible time, exposing public pension funds in particular to liquidity crunches and fire sales.
Read more...Finance Capitalism vs Industrial Capitalism: How Financial Parasites and Debt Bondage Are Destroying Us
Another Michael Hudson star turn on debt dynamics, this time focusing on the coronavirus bailouts are shoring up rentiers.
Read more...Covid-19, The Coming Developing Country Debt Crisis and The Argentina Debt Reduction Proposal
Even the IMF backs the new debt put forward by Argentina. Could it be a model for Covid-shocked emerging economies?
Read more...A Payments Holiday is More Realistic Than You Think
It may be simpler to enact a payments holiday than to try to get money to the hands of individuals who desperately need it.
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