Bronze Age societies forgave agricultural debt to keep cultivators working on their land, able to pay taxes and work in the military and on public projects. Lenders were seen as greedy and exploitative.
Recent Items
Tuesday, July 29, 2025
Michael Hudson: “Moral Hazard” vs Mutual Aid – How the Bronze Age Saved Itself from Debt Serfdom
Topics: Banking industry, Economic fundamentals, Free markets and their discontents, Guest Post, Moral hazard, Social policy, Social values
Posted by Yves Smith at 6:45 am | 106 Comments »
The Fracking Industry’s Wastewater Injection Well Problem
The fracking industry has a wastewater disposal problem and finds itself in a pick your poison situation, with no good alternatives. Americans will continue to bear the environmental costs of the nationwide fracking experiment.
Topics: Environment, Global warming, Guest Post, Legal, Politics, Regulations and regulators
Posted by Jerri-Lynn Scofield at 5:25 am | 22 Comments »
New York Media Touts Private Equity Obamist Deval Patrick as Presidential Candidate
Why is the media covering up that Deval Patrick became wealthy via asset-stripping at Bain Capital?
Topics: Banana republic, Guest Post, Income disparity, Politics, Private equity, The destruction of the middle class
Posted by Yves Smith at 12:38 am | 48 Comments »
2:00PM Water Cooler 11/19/2018
Today’s Water Cooler: Tariffs, Biden, Beto, election shenanigans, AOC, DSA, callout culture, housing market, e-commerce, Elon Musk, Carlos Ghosn, Tim Cook, Medicare for All, constitutional law, SEIU, brainwaves
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 124 Comments »
Another Blow to the Biometric ID Fairy: Researchers Show ‘Master’ Fingerprints Can Bypass Smartphone ID Sensors
New research shows that ‘master’ fingerprints can bypass smartphone fingerprint ID systems – thus striking another blow at the biometric ID fairy.
Topics: Banking industry, Ridiculously obvious scams, Surveillance state, Technology and innovation
Posted by Jerri-Lynn Scofield at 9:55 am | 16 Comments »
Links 11/19/18
Topics: Guest Post, Links
Posted by Jerri-Lynn Scofield at 6:55 am | 227 Comments »
Why I Have Given Up on Powell’s Books
My inability to place an online order at Powell’s Books despite multiple attempts says something is very wrong.
Topics: Free markets and their discontents, Market inefficiencies, Social values, The destruction of the middle class
Posted by Yves Smith at 4:13 am | 107 Comments »
Sunrise Movement and AOC Push Pelosi for a Green New Deal, Highlighting Job Creation
Young climate change activists and AOC push Pelosi for a Green New Deal, despite expected hostility in the Senate.
Topics: Banana republic, Global warming, Guest Post, Politics, Regulations and regulators
Posted by Jerri-Lynn Scofield at 3:25 am | 38 Comments »
An MMT View of “Twin Deficits”: Budget and Current Account Deficits
Why the worries about the US budget deficit and China buying Treasuries are overblown.
Topics: China, Economic fundamentals, Guest Post, Macroeconomic policy, The dismal science
Posted by Yves Smith at 2:56 am | 40 Comments »
Links 11/18/18
Topics: Guest Post, Links
Posted by Jerri-Lynn Scofield at 6:55 am | 180 Comments »
IMF, Warren Sound Alarm on Leveraged Lending
Concerns are building over the extent of leveraged lending, among regulators and politicians and the private sector alike. Some, such as Sen. Elizabeth Warren see troubling signs that recall risks that triggered the Great Financial Crisis.
Topics: Banking industry, Credit markets, Federal Reserve, Guest Post, Investment management, Regulations and regulators
Posted by Jerri-Lynn Scofield at 6:50 am | 39 Comments »
IMF Pushes Neoliberal Policies in Latin America
The IMF is back again, flexing its muscle in Argentina and Mexico, pushing the neoliberal Washington Consensus, says Vijay Prashad in this Real News Network interview.
Topics: Banana republic, Globalization, Guest Post, Income disparity, Macroeconomic policy
Posted by Jerri-Lynn Scofield at 5:25 am | 5 Comments »
Hope to See You At Our Birmingham Meetup This Monday, November 19
Hope you can join our Birmingham meetup!
Topics: Links
Posted by Yves Smith at 1:29 am | 2 Comments »
Links 11/17/18
Topics: Links
Posted by Yves Smith at 6:59 am | 219 Comments »
Labour MPs Should Vote Against Theresa May’s Brexit Deal. It Is a Poison Pill
Labour wants to play a game of chicken with May over Brexit.
Topics: Brexit, Doomsday scenarios, Europe, Politics, UK
Posted by Yves Smith at 5:23 am | 125 Comments »