At Long Last the Government Can Borrow Straight From the Bank of England – As Modern Monetary Theory Has Always Suggested It Should
The UK embraces modern monetary theory….and perhaps hopes no one notices.
Read more...Category Archives: Banking industry
Global Level 4 Travel Advisory: Stealth Subsidy for Insurers?
The State Department’s global level 4 health advisory,recommending US citizens not travel internationally, has travel insurance implications.
Read more...Debt and Financial Crises: Will History Repeat Itself?
Unhappy families may all be different, but financial crises are pretty much the same, rooted in debt overhangs, and one has been brewing.
Read more...Triggering a Global Financial Crisis: Covid-19 as the Last Straw
An ambitious deleveraging plan as a Covid-19 response.
Read more...Coronavirus Means Zero Hour for the European Union
Germany’s long-standing practice of muscling the European Union to serve its own ends now risks dissolution and a banking system crisis.
Read more...The Fed Backfires: Shock and Awe Rate Drop to 0%, Emergency Bond Buying Program Leads to Limit Down Drops in US Equity Futures as Real World Coronavirus Damage Worsens
The Fed just told everyone to assume the brace position.
Read more...Why You Should Stop Using or Cancel Your Citi Mastercard: Systematic Violation of Cardmember Chargeback Rights, Insistence on Using Fraud-Friendly Voiceprints
Citi is doing a number on its own and the Mastercard brand name with cringe-makingly inept and dishonest credit card operations.
Read more...MMT is a Political Problem: Part 1
How should MMT proponents advance their views?
Read more...Banks and Landlords Have To Pick Up the Costs of the Pandemic To Come to Forestall a Depression
Why banks and landlords (and the health care industry) need to pay their share of coronavirus costs.
Read more...Coronavirus: Bracing for the Economic Shockwave
The coronavirus spread is setting up a nasty real economy-financial system contraction.
Read more...Wolf Richter: Subprime Credit Card Delinquencies Spike to Record High, Past Financial-Crisis Peak, as Other Consumers Relish the Good Times. Why?
The concern is not for banks or investors in subprime-credit-card backed securities. But what does this bifurcation tell us about consumers?
Read more...HSBC Announces Mass Job Cuts, Huge Write-Down, Asset Sales, Halt of Share Buybacks. Warns of Coronavirus Impact on Credit Losses & Revenues in China & Hong Kong
Once storied, now sprawling TBTF HSBC has started a big retrenchment in the face of mounting business woes. Is it the canary in the coal mine?
Read more...Climate Risks to European Banks: A New Era of Stress Tests
Several European central banks have begun assessing the impact of adverse climate scenarios on banks’ capital. Comparable work at EU or euro area level has evolved more slowly. Supervisors need build up a distinct and more complex type of analysis, and should engage with banks now.
Read more...Foreign Exchange Swaps: Hidden Debt, Lurking Vulnerability
How hidden foreign exchange swaps contribute to financial fragility.
Read more...Subprime Auto Loans Explode, “Serious Delinquencies” Spike to Record. But There’s No Jobs Crisis, These Are the Good Times
Nearly a quarter of all subprime auto loans are 90+ days delinquent. Why?
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