Category Archives: Banking industry

The Russian Situation Comedy Is No Lying Matter – The Joke Is on the Office of Foreign Assets Control

How Russian comedy producers and broadcasters are laughing their way to the bank thanks to Western sanctions.

Will Europe Go Down to Defeat Before Ukraine?

Europe has succeeded in hurting itself to hurt Russia, to the degree that a full bore economic and financial crisis seems inevitable.

The Bank of England Increasing Interest Rates to 4% – As Markets Expect – Could Be Enough To Bring the Whole Economy Down

The Bank of England is in “Burn the village to save it” mode via interest rate increases which do little to address the causes of inflation.

Biden’s Gimmie to the Higher Educational Complex and Well-Off, Dem Leaning Voters: The $10,000 Student Loan Writeoff

There’s a lot not to like about the Biden student loan forgiveness scheme.

Yanis Varoufakis: Inflation as a Political Power Play Gone Wrong

Looking at inflation through a class warfare lens.

Michael Hudson: American Diplomacy as a Tragic Drama

American policies have become astonishingly obvious about not simply putting the US first, but also exploiting supposed partners to do so.

Some Implications of the UN’s Ukraine Grain and Russia Fertilizer/Food Agreements

The press was all over the UN’s Ukraine grain deal, but the UN agreement on Russian fertilizer and food may be more imporant in the long run.

Michael Hudson on Finance Capitalism’s Self-Destructive Nature

Michael Hudson rings the changes on a favorite theme: the differences between the financial capitalism and industrial capitalism systems

The Capitalist Solution to ‘Save’ the Planet: Make It an Asset Class & Sell it

John Bellamy Foster explains the plans to create assets on the back of everything nature does and expropriate it from the global commons.

Climate Change Risks to Sovereign Debt: How Integrated Assessment Models Inform Our Understanding

Evidence suggests that sovereign debt markets are taking climate effects into account in pricing, creating the potential for a climate-debt doom loop

Michael Hudson: The End of Western Civilization – Why It Lacks Resilience, and What Will Take Its Place

How neolibearlism and idealization of markets is the latest chapter in the West’s destructive drift towards rule by oligarchs and rentiers.

Leverage & Interconnectedness Are Blowing Up Crypto & DeFi

What’s different this time: Stuff blows up because of leverage and cascades through the crypto space because everything’s interconnected.

Michael Hudson: From Junk Economics to a False View of History – Where Western Civilization Took a Wrong Turn

Hudson reviews how economics has misrepresented the evolution of money and land ownership and promoted oligarchy.

The Coming Sanctions-Induced Economic Tsunami?

It does not take much in the way of prognostication skills to anticipate that things can get way way worse on the economic front.