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.
Read more...Category Archives: Credit markets
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.
Read more...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.
Read more...Michael Hudson and Vijay Prashad: How Hyper-Imperialism Shapes Global Conflict
A rich discussion of how industrial capitalism evolved into imperialism and how its impulses and contradictions are creating more fractures.
Read more...More Evidence of Destructive Deflation in China
China’s deflation crunch is getting worse.
Read more...Geopolitics as a Monetary Shock: The ‘Silent Tightening’ in the European Banking System Due to Sanctions Against Russia
Another example of Ukraine war blowback on the West: banking costs rose and lending tightened due to the sanctions on Russia.
Read more...Satyajit Das: President Trump’s Spat With the Federal Reserve Is Not About Central Bank Independence
A look at the overly-large, internally conflicted role of the Federal Reserve and Trump’s dodgy aims in trying to bring it under his control.
Read more...The Day of the Dollar: Is It Over?
More on the prospects for the dollar. Even under Trump, it remains the cleanest shirt in the laundry bin.
Read more...Trump’s “Fix Affordability” 10% Credit Card Interest Rate Cap: A Gimmick, Not a Solution (and It Won’t Happen Anyhow)
It has gotten through to Trump that the state of the economy, and particularly consumer suffering from persistently high costs, aka the affordability crisis, can’t be solved by his barker’s patter about how great things are. So he’s roused himself to try to find some quick and easy wins so he can present himself as […]
Read more...Justice Department Subpoenas the Fed, Threatens Powell with Criminal Indictment. Powell Comes out Swinging. Stock Futures Tank
Trump pursues another own goal by escalating with Fed chair Powell over his refusal to lower interest rates by launching a criminal probe.
Read more...Fed’s Standing Repo Facility (SRF) Drops to Zero, from $75 Billion on the Last Balance Sheet as Yearend Liquidity Turmoil Dissolves
Unpacking the much-ado-about-nothing over year-end use of the Fed’s pet liquidity-providing mechanism, its standing repo facility.
Read more...How China’s Overinvestment Helped Produce Africa’s Deindustrialization
An in-depth article from a leftist vantage on China’s extensive involvement in Africa finds that it has been a net negative for development
Read more...AI and Systemic Risk
The popular press is whistling past the graveyard of AI systemic risk even as heavyweight experts warn more needs to be done.
Read more...Satyajit Das: The Shadow of Financial Instability
Shadow banks, rebranded as anodyne “non-bank financial institutions” are larger than ever and pose a threat in a new financial crisis
Read more...Michael Hudson: Trump Floundering Efforts to Shore Up US Hegemony
Why Trump’s National Security Strategy and his efforts to shore up dollar dominance are proofs of weakness.
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