Satyajit Das: SVB Collapse and Bank Turmoil – Latest Chapter in the Unwinding
Peeling back more layers of the SVB implosion and its broader implications.
Read more...Category Archives: Credit markets
Why Student Debt Cancellation Is Reasonable, Not Radical
Discuss: “The right has narrowed the parameters of discussion on student debt forgiveness. Biden is not fighting back aggressively enough.”
Read more...‘Absolute Hypocrisy’: GOP Unveils Bill to Make Trump Tax Cuts Permanent While Howling About Debt
The point of the debt ceiling melodrama is to give fiscal hawks another whack at budget-cutting. Tax increase are therefore off the table.
Read more...Russia’s Budget Deficit Jumps Amid Plunging Oil Revenues
Russia had a budget shortfall due to a fall in energy-related tax receipts. How serious a problem is this development?
Read more...Economists Radhika Desai & Michael Hudson Explain Multipolarity, Decline of US Hegemony
The new year gets off to a rousing start with the launch of a new bi-weekly talk show with Radhika Desai and Michael Hudson.
Read more...Michael Hudson Discusses the Future of Europe and Global Restructuring
Michael Hudson describes how the war with Russia is changing the economic and political order, and not to the advantage of Europe and the US.
Read more...Stocks Open Eyes, See Fed Pivot Hawkish; ECB Hike into Recession, Start QT; BoE Hike into Recession; SNB Hike, Sell Foreign Currency Assets
ECB’s assets drop by €800 billion. Mexico hiked too today, way ahead of the Fed, keeps peso from falling against USD.
Read more...Key Institutional Crypto Player, Genesis, on Verge of Failure; Possibility of “Apocalyptic” Bitcoin Liquidation
Genesis, another key block in the crypto Jenga tower, looks like it is about to be removed from the game. What might fall down as a result?
Read more...You’re Living in a World Wrought by Central Banks. Notice Anything Wrong?
Nomi Prins warns that central banks’ strategies are destroying the real economy, worsening inequality, and creating societal chaos.
Read more...Sam Bankman-Fried and FTX Were Up to No Good, Including Their Customer Agreement
In the unlikely event you have any doubt, Sam Bankman-Fried and his merry band of FTX rogues look mighty dishonest.
Read more...A Brief History of the Mortgage, From Its Roots in Ancient Rome to the English ‘Dead Pledge’ and its Rebirth in America
The backstory of what is now arguably the most widely-used form of lending in principal terms, the mortgage.
Read more...It No Longer Makes Sense for the Bank of England to be Independent
The Bank of England engaged in a mini-coup. But no one seemed to mind because Truss. Will it be reined in?
Read more...Brussels Provides Not-So-Subtle Input on Italy’s Next Government
By Conor Gallagher While incoming Italian Prime Minister Giorgia Meloni and her Brothers of Italy Party (Fdl) certainly provide plenty of nationalist and culture war sound bites, they will ultimately be forced to follow EU and NATO marching orders, or they won’t be in power very long. Now that two cabinet picks from Meloni and […]
Read more...Bank of England Bought Only Small Amounts of Bonds Even Today, Warns Pension Funds They Have “Only Three Days Left” to Unwind Derivatives with BOE Support
The Bank of England has been doing less than believed to rescue the gilts market. But stil not a good look.
Read more...Satyajit Das: The Financial Party Is Coming to an Abrupt End
There seems to be no escape from looming economic and financial problems, but the officialdom will do it best to delay the reckoning.
Read more...