Category Archives: Credit markets

Michael Hudson: Forgiveness, Foreclosure, & Christianity

Michael Hudson reprises a favorite theme of how the salutary practice of debt forgiveness came to an end under Greco-Roman oligarchs

The Death of the Engineer CEO: Evidence that Short-Termism and Financialization Had Become Ascendant

A look at how some turning points in the history of Corporate America, such as CEO changes of guard, explain how America hollowed itself out.

The Irrationality of Markets

More evidence that the current level of advanced economy secondary market trading is bad for economic health.

How Kamala Harris Sold Out Struggling Homeowners to Save Banks in 2012 and Then Lied About It

Kamala is under scrutiny for policy flip-flops. Even worse is her lying about the badge of shame known as the 2012 National Mortgage Settlement.

Repaying Bank Loans Destroys Money

Richard Murphy discusses a key, and not well understood, implication of repaying bank loans.

Let’s Abolish the Colonial IMF on Its 80th Birthday

Developing country protesters want the IMF to stop exploiting countries in debt crisis. But is BRICS prepared to fill the gap?

Target Just Became the Latest US Retailer to Stop Accepting Payment by Checks. Why Have So Many Stores Given Up on Them?

Retailers and banks are discouraging the use of checks. Why?

US Fed-Induced World Stagnation Deepens Debt Distress

US and Fed bad cooking has led to weak growth the world, and by urging poor countries to borrow at once-low rates, debt distress.

Power in Sovereign Debt Markets: Explaining the Uneven Debtor–Creditor Landscape and Its Implications

A long time ago, the US intervened on the side of underwater sovereign borrowers. Private creditors now extract even more than back then.

Heatwaves Ripple into the Financial System

Heat stress affects the financial system by increasing defaults and producing tighter lending terms to others in the same area.

Michael Hudson: Modern (Mis)interpretations of Ancient Debt Cancellation

Modern economists misrepresent how ancient debt cancellation worked, forcing it into contemporary neoliberal /creditor rights frameworks

Status of Banks’ Unrealized Losses in Q1: Worsened After Brief Rate-Cut-Mania Relief

US banks are still sitting on losses, with Fed relief nowhere in sight.

The IMF’s Chronicle of a Catastrophe Foretold

A dour IMF forecast bodes ill for developing economies and provides more confirmation of crises in the offing.

UK Banks Will Go Bust Because of Climate Change

The UK has low-lying terrain that has nevertheless been developed and will go underwater with climate change and take a lot of banks with it.

Israel Economy Deterioration Worsens as Gaza Conflict and Other Hostilities Grind On

A fresh look, admittedly based on limited information, at how Israel’s economy is holding up in what is proving to be a protracted conflict