Financial Markets Have Taken Over the Economy. To Prevent Another Crisis, They Must Be Brought to Heel.
A detailed and well-argued explanation of how the growth in the role of financial markets has become destructive.
Read more...Category Archives: Credit markets
Government Shutdown Once Again Shows the Lies Behind Deficit Hysteria
How the wealthy use deficit scaremongering to keep wages down and stave off calls for more investment and social spending.
Read more...The Chinese Banking System: Much More Than a Domestic Giant
Chinese banks have become major foreign lenders, making China the eighth biggest financial center in the world.
Read more...Mr. Market Has a Meltdown
Musing on the market swan dive yesterday.
Read more...The International Economic Consequences of Mr. Trump
The Trump Administration sees no value in international economic institutions or cooperation, abandoning the role of steward of the system.
Read more...Wolf Richter: What Will Rising Mortgage Rates Do to Housing Bubble 2?
Rising mortgage rate are about to do some damage to the house party.
Read more...Nomi Prins: My Financial Road Map for 2018
Some crystal ball gazing for 2018.
Read more...ECB Spawned Financial Dependency That’s Now Very Hard to Undo
The ECB is very eager to withdraw extraordinary support. But among others, a lot of weak banks are hooked on it.
Read more...China Fails to Woo U.S. With Financial Sector Opening
Why is the US cool about concessions from China that the US has long sought?
Read more...Selling Out Argentina’s Future—Again
How Argentina’s new neoliberal masters are driving the economy back into its old debt crisis ditch.
Read more...Amar Bhide: The Case for Traditional Banking
Amar Bhide gives a clearly-written, compelling argument against a supposed banking “innovation,” securitization.
Read more...The Year in Money
A review of money issues…and mainly not bitcoin.
Read more...Crowdfunding Christmas: Time to Boycott It’s a Wonderful Life
How It’s a Wonderful Life sentamentalizes and reinforces the misguided policy idea that money is scarce and a private good.
Read more...Debunking Mainstream Economists on Secular Stagnation and the Loanable Funds Fallacy
An important, accessible takedown of the loanable funds theory, on which a ton of bad policy rests.
Read more...The Bitcoin Bubble
As bitcoin has become a mania, it is also becoming a risk to the real economy.
Read more...