Marshall Auerback: A Full Employment Economy? What Could Possibly Go Wrong?
Why Trump’s trade deals could wind up being a negative for employment.
Read more...Category Archives: Federal Reserve
The Bank of International Settlement’s Claudio Borio, Who Warned About the Crisis, Says the World Economy Is About to Get Very Sick
BIS chief economist Claudio Borio warns that central bankers have overdone the liquidity party, and investors are not being paid enough to take ris
Read more...How the Crisis Caused a Pension Train Wreck
Why pension funds, and retirement savers generally, are big victims of the financial crisis.
Read more...Michael Hudson: 10 Years Since Lehman Brothers Bankruptcy – Did the Economy Really Recover?
Michael Hudson discusses the economic impact of not writing down debts in the wake of the crisis.
Read more...Michael Hudson: The Lehman 10th Anniversary Spin as a Teachable Moment
Why you should take conventional wisdom about the Lehman collapse and the crisis with a fistful of salt.
Read more...Why Central Banks Should Not Be Inflation Nutters
Central banks need to stop fighting the last war.
Read more...Double Whammy: Implicit Subsidies and the Great Financial Crisis
Follow the subsidies, and you will understand why we had the crisis and why not enough has been done to prevent a recurrence.
Read more...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.
Read more...Victorian Central Banks and the Myth of Independence
Central banks have not always been independent, inflation targeting bodies, and to treat them as such is to obscure their complex histories and alternative institutional constellations.
Read more...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.
Read more...Marshall Auerback: Central Bankers as ‘Dealers of Last Resort’
In their 21st-century role as counterparty/dealer/insurer of last resort, central bankers must not simply use their balance sheets indiscriminately to provide a liquidity backstop during the downturns. They must embrace this counterparty role as an umpire, rather than an enabler.
Read more...Bill Black: Pre-Crisis “4506-T Studies” Showed Massive Fraud in Liar’s Loans; Fed Ignored Warning, DoJ Refused to Target Implicated Banksters
Yet another proof that the authorities were given evidence of widespread mortgage fraud before the crisis and chose to do nothing about it.
Read more...The Explicable Mystery of the National Debt
Why US Treasury bond issuance and Federal deficits are functionally not debt at all.
Read more...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.
Read more...10 Down-to-Earth Things Powell Said about Cryptocurrencies
The Fed is perfectly content to have cryptocurrencies be the SEC’s problem.
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