Category Archives: Credit markets

Jumping the Abyss: Marriner S. Eccles and the New Deal, 1933-1940

An in-depth look at Marriner Eccles’ ideas and policies, and how well they have withstood the test of time.

Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers

The chief architects of the exercise in looting otherwise known as the post-crisis rescues are back promoting more of the same.

Causes of Turkey’s Crisis

Turkey is entering a major crisis, which many of the media have been quick to blame on Erdogan’s nationalist inclinations. However, the crisis has much more to do with poor economic fundamentals and the lending decisions of European banks.

White-Collar Criminals Got Off Scot-Free After the 2008 Financial Crisis — and That Helped Fuel President Trump’s Rise

Ten years later, Trump’s rise to power is a consequence of poor governance.

The Michael Hudson Report: The “Next” Financial Crisis and Public Banking as the Response

Michael Hudson explains how we’re still in the crisis that started in 2007-2008.

The Explicable Mystery of the National Debt

Why US Treasury bond issuance and Federal deficits are functionally not debt at all.

Bill Black: Mankiw Whiffs on “Learning the Right Lessons from the Financial Crisis”

Bill Black debunks a book that tries to relitigate the crisis by denying that Lehman was insolvent.

China Pumps $74B Into Banks Amid Credit Crisis

China throws some money at banks to offset the effects of its deleveraging initiative.

Michael Hudson: Argentina’s New $50 Billion IMF Loan Is Designed to Replay its 2001 Crisis

Michael Hudson explains why the new IMF bailout of Argentina will not end well.

America’s Subprime Economy

This so-called expansion is more and more brought to you by subprime borrowings.

Michael Hudson: Argentina Gets Biggest IMF Loan in History

Leftout podcast of The Hudson Report, with Michael Hudson, discussing the award to Argentina of the biggest loan in the IMF’s history (includes transcript).

Don Quijones: How the ECB Helped Spain “Recover” Faster than Italy from the Crisis

How “financial repression,” as in negative real interest rates, whacked Italy and boosted Spain.

Wolf Richter: Riskiest Junk Bonds Completely Blow Off the Fed, Face “Sudden” Reckoning

Normally risky credits like junk bonds are the first to react when the Fed starts tightening. But we are not in normal times.

The Battle for Money Has Begun

Why the current fights over money, banking, and Modern Monetary Theory look like new ways to achieve bad neoliberal ends.