Problems in the banking sector played a seriously damaging role in the Great Recession. In fact, they continue to. Macroeconomic models failed to explain the interaction between banks and the macro economy. The problem lies with thinking that banks create loans out of existing resources. Instead, they create new money in the form of loans. The traditional model greatly understates bank and macroeconomic risk.
Read more...The role of UK Partnerships in a $1Bn bank fraud in Moldova
Read more...How arrogant ignorance has squandered the US position of world leadership.
Read more...Bill Black flags a new stunning bit of bank propaganda, that risk is an unavoidable natural condition that is futile for regulators to control.
Read more...Debunking “free trade” and other spurious defenses of the multinational enrichment, democracy stripmining programs known as the Trade in Services Agreement, the TransPacific Partnership, and the Transatlantic Trade and Investment Partnership.
Read more...We are now 35 years into a finance-led counterrevolution. If you care about income inequality, student loan debt slavery, foreclosure abuses, and other products of the success of this effort, it behooves you, as Sun Tzu urged, to understand your enemy.
Read more...A 2004 book by Martin Wolf provided the intellectual foundation for the competitiveness fad. Ironically, Wolf debunked his own thesis in it.
Read more...The opposition has done vastly better than expected on stymieing Obama’s toxic trade deals. Thinking ahead to how to block them in the House, and if it gets that far, when the Fast Track fix goes to the Senate.
Read more...A report by the Volcker Alliance on financial reform is readable and meaty, and curiously dropped from media sight.
Read more...Current proposals to deal with the too big to fail problem fall way short as far as disarming derivatives risk is concerned.
Read more...Hudson’s so-called “Operation Vulture,” the strip-mining of what little is left of a functioning economy in Ukraine, comes straight out of the neoliberal playbook.
Read more...The Fed disavows responsibility for the way US interest rate policy sends money sloshing around the world. It’s a huge mistake intellectually and politically.
Read more...The sausage-making on the TPP has gotten messier…..
Read more...As reader Li, an international road warrior, says, “America is getting to be just like Italy, except without the attractive men.”
Read more...The Wall Street Journal, of all places, describes the dark economic underbelly of Uber and other Orwellianly-named “sharing” services.
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