Category Archives: Free markets and their discontents

Michael Hudson: Ukraine Denouement – The Russian Loan and the IMF’s One-Two Punch

Will America’s insistence that Europe, Russia, and Ukraine act against their economic interest ultimately lead the US to lose Europe?

#BlackstoneEvicts

#BlackstoneEvicts is one of the messaging vehicles for a loosely-organized groups of protestors in Spain and the US who oppose private equity kingpin Blackstone’s aggressive evictions and rental abuses.

John Helmer: Poland’s Lobby for Ukraine Enjoyed Kolomoisky Bank Link (Updated)

Helmer’s deep dives into Ukraine’s corruption are a cross between Graham Greene underworldliness with a contemporary veneer of financial wheeling and dealing, plus lots of think tank laundered influence peddling. For those not up on the dramatis personae in Ukraine, Igor (also spelled Ihor) Kolomoisky is one of the wealthiest men in Ukraine.

Questus: How the Scammers Behind Virgin Gold Mining Corporation Bit Off More Than They Could Chew (V)

Here’s another New Zealand FSP scam, involving a “Malaysian billionaire”, who doesn’t look genuine, and princes from Kuwait and Abu Dhabi, who do look genuine!

How the Scammers Behind Virgin Gold Mining Corporation Bit Off More Than They Could Chew (IV)

The last piece in our series on Virgin Gold Mining Corporation, for the moment

Bracing for Another Storm in Emerging Markets

This post dovetails with the Michael Pettis article today. Hot money is the bane of emerging markets, but the opposition to regulating capital flows remains fierce.

How the Scammers Behind Virgin Gold Mining Corporation Bit Off More Than They Could Chew (III)

Yet more twists in the tale of the giant pyramid fraud, Virgin Gold Mining Corporation: Plan “C” starts to come unravelled.

Greek Finance Minister Varoufakis Retreats on Debt Writedowns, Public Spending Promises

We’ve said that Greece had a weak negotiating position in trying to get a better deal from its creditors. That is playing out before our eyes. Greek Finance Minister Yanis Varoufakis has stepped down some of his early proposals even before formal talks have begun. This is a sad but predictable situation, since the Germans and the other members of the northern bloc are not at all willing to cut Greece much if any slack, since that would lead bigger, more powerful countries to try to slip the yoke of austerity.

The tragic thing about this situation is that Varoufakis is simply describing economic reality and has a number of sound ideas for how to make conditions better for Greece, which in the end will also lead to better results for its lenders.

How the Scammers Behind Virgin Gold Mining Corporation Bit Off More Than They Could Chew (II)

More shenanigans from Virgin Gold Mining Corporation and its little helpers.

How the Scammers Behind Virgin Gold Mining Corporation Bit Off More Than They Could Chew (I)

First in a series of posts exploring Virgin Gold, an immense ($2Bn?) pyramid scheme with a messy aftermath

Greece Shows the Limits of Austerity in the Eurozone. What Now?

Mario Seccareccia, professor of economics at the University of Ottawa, has been outspoken in his warnings that austerity policies have the potential to smash economies and spread untold human misery. He has challenged deficit hawks and emphasized the need for strong government investment in things like jobs, education, health care, and infrastructure if economies are to prosper. Here he talks about why what happened to Greece was entirely predictable, why the Greeks were right to reject austerity in the recent election, and what challenges the country faces in forging a sustainable path forward with the left-wing Syriza party at the helm.

How Wall Street Killed Entrepreneurs

Since it conflicts with Americans’ widely-held image of self-reliance, the fact that new business creation has fallen to the point that even Hungary has a higher rate of starting new ventures than the US hasn’t gotten the attention it warrants in the mainstream media.

Unfortunately, many of the explanations for why that happened are more than a bit off.

Is Power8, Sponsor of Everton FC, Fulham FC and RCD Espanyol, a Giant Ponzi?

Yves here. Richard Smith is on the trail of what looks to be his biggest international scam find ever, orders of magnitude larger than the usual below the radar single to low double digit million dollar/pound/euro operation that he has ferreted out in the past. And mind you, even though he focuses on the dubious looking inter-corporate relationships and the often evident lack of normal investors protections and business substance, these companies sell hope and glamour to typically credulous retail investors who lose their money and have no recourse.

Clyde Prestowitz on the Destructive Effects of TPP on American Workers

By Lambert Strether of Corrente. In last week’s State of the Union speech, Obama (again) pressed Congress to give him “fast track” negotiating authority (Trade Promotion Authority): I’m asking both parties to give me trade promotion authority to protect American workers, with strong new trade deals from Asia to Europe that aren’t just free, but […]