Sadly, some bank-serving fables are very durable, so James Galbraith has (yet another) go at them.
Recent Items
Thursday, June 26, 2025
James Galbraith: How Central Bank Myths and Practices Support Financiers and Dollar Hegemony
Topics: Banking industry, Currencies, Dubious statistics, Federal Reserve, Free markets and their discontents, Guest Post, The destruction of the middle class, The dismal science
Posted by Yves Smith at 4:25 am | 13 Comments »
New Address for Donations by Check!
Like the shoemaker whose children go unshod, we are tardy in updating our address for check payments! Oopsie!
Topics: Notices
Posted by Yves Smith at 3:17 am | 2 Comments »
2:00PM Water Cooler 7/24/2023
~ Today’s Water Cooler ~
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 89 Comments »
Could Winning an Election Be the End of Keir Starmer?
Elected as the lesser of two evils, Keir Starmer’s Labour will face crises from the offset. Could its disenchanted left step in?
Topics: Free markets and their discontents, Guest Post, Income disparity, Macroeconomic policy, Politics, Social policy, The destruction of the middle class, UK
Posted by Yves Smith at 9:13 am | 35 Comments »
Links 7/24/2023
Topics: Links
Posted by Conor Gallagher at 6:55 am | 191 Comments »
Rage, Neoliberalism, and Phone Trees
How neoliberalism is contributing to the collective sour mood.
Topics: Economic fundamentals, Free markets and their discontents, Health care, Income disparity, Media watch, Politics, Social values, Technology and innovation, The destruction of the middle class
Posted by Yves Smith at 6:00 am | 70 Comments »
How “Big Ag” Pollutes America’s Water, and Makes Money Doing It
How habitual and unnecessary nitrogen overdosing in American farms is making water pollution even worse than it “need” be.
Topics: Doomsday scenarios, Environment, Guest Post
Posted by Yves Smith at 4:08 am | 8 Comments »
Links 7/23/2023
Topics: Links
Posted by Conor Gallagher at 6:55 am | 227 Comments »
Germany Down the Rabbit Hole
Economics minister is again pressuring India on Russia while foreign minister Baerbock brags children can count on her to promote peace through war.
Topics: Europe, Guest Post, India, Russia
Posted by Conor Gallagher at 6:00 am | 70 Comments »
Effects of “Unprecedented” Marine Heat Waves May Be Irreversible
The marine heat wave could lead to a redistribution of ocean species that may then also destabilize additional ecosystems.
Topics: Environment, Global warming
Posted by Conor Gallagher at 5:00 am | 37 Comments »
Links 7/22/2023
Topics: Links
Posted by Conor Gallagher at 6:55 am | 174 Comments »
The Looming War Against China: Economic Logic Has Been Replaced by National Security Overrides
Michael Hudson provides a deep dive on the US’ and now its Western allies’ obsessive campaign against China.
Topics: China, Doomsday scenarios, Economic fundamentals, Energy markets, Europe, Free markets and their discontents, Globalization, Guest Post, Income disparity, Politics, Russia, The destruction of the middle class
Posted by Yves Smith at 6:50 am | 77 Comments »
The Big Problem With Small Nuclear Reactors
Diminutive nculear reactors are likely to be just as prone to delays and cost overruns as their behemoth predecessors.
Topics: Doomsday scenarios, Energy markets, Global warming, Guest Post, Technology and innovation
Posted by Yves Smith at 2:43 am | 107 Comments »
2:00PM Water Cooler 7/21/2023
~ Today’s Water Cooler ~
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 103 Comments »
When Greenland Was Green: Ancient Soil From Beneath a Mile of Ice Offers Warnings for the Future
Scientists unlock findings about the past and the future using frozen soil extracted during the Cold War from beneath a nearly mile-thick section of the Greenland ice sheet.
Topics: Environment, Global warming, Guest Post, Science and the scientific method
Posted by Conor Gallagher at 9:35 am | 16 Comments »