ZEN and the Art of Modern Money, Part 2 (MMT)
MMT for people in a hurry.
Read more...Category Archives: Banking industry
Why You Should Back the Sanders/AOC Plan to Cap Credit Card Interest Rates at 15%, Re-Launch the Postal Savings Bank
A new bill by Bernie Sanders and Alexandria Ocasio-Cortez seeks to limit credit abuses and make banking more accessible.
Read more...Perhaps It’s Time to Start Worrying About Global Corporate Debt, Suggests Bank of England
China’s exploding corporate debt is a cause for pause.
Read more...Student Loan Forgiveness Program Offers False Hope, Rejects 99% of Applications
The infamous HAMP program, which the Administration revised so many times on the fly as to give incompetent and mendacious mortgage servicers air cover for failing to modify mortgages, at least had a stealth purpose. As Treasury Secretary Timothy Geithner said to the SIGTARP’s Neil Barofsky, it was to foam the runway for banks by […]
Read more...ZEN and the Art of Modern Money (MMT)
Working through a primer on MMT.
Read more...Coping With World Bank-Led Financialization
The World Bank has successfully promoted its ‘Maximizing Finance for Development’ (MFD) strategy by embracing the United Nations’ Sustainable Development Goals, internationally endorsed in September 2015.
Read more...Bill Black: If Current Laws Prosecuting Bankers Aren’t Used, What Can Warren Change?
Bill Black demolishes the notion that we can’t prosecute banksters with laws now in place. He there’s no need to pass new laws – as Senator Elizabeth Warren proposes – but instead to appoint regulators and legal officers who’ll use what we know about dealing with criminogenic environments to prosecute white collar criminals. And to provide them with support and resources.
Read more...The Effectiveness of the Global Financial Safety Net Depends on the Tools and Shocks
This column evaluates the effectiveness of the use of IMF support and foreign reserves in globally driven crises
Read more...Empire and Economics: The Long History of Debt Cancellation from Antiquity to Today
Get a cup of coffee. A meaty talk by Michael Hudson, Liz Theoharis, and Aliou Niang on the social and economic logic of debt cancellation back when it was a regular practice.
Read more...Making American Schools Less Great Again
An on-the-ground report from a teacher in Beverton on how the war on schools’ funding is leading teachers to strike.
Read more...Bill Black: Tom Friedman Just Noticed that the UK “Has Gone Mad”
Bill Black uses Tom Friedman’s recognition just this week that Brexit is a mess as the foundation of a detailed takedown of Friedman’s propaganda, um, views.
Read more...The Delphic Oracle Was Their Davos: A Four-Part Interview With Michael Hudson: A New “Reality Economics” Curriculum Is Needed (Part 4)
How mainstream economics ignores the lessons from antiquity on the destructiveness of oligachies, and how early industrialists and business schools promoted anti-rentier, socialit policies.
Read more...The Biggest Problem in the War on Cash
Banks and retailers are running into strong political opposition to restricting the use of cash.
Read more...The Media Endlessly Talks About Interest Rates—Are They Even an Effective Economic Tool at This Point?
Interest rates are a poor substitute for fiscal spending and as we’ve seen, over-reliance on monetary policy produces speculative booms and busts. More and more people recognize this formula isn’t working, but what will it take to change course?
Read more...The Delphic Oracle Was Their Davos: A Four-Part Interview With Michael Hudson: Mixed Economies Today, Compared To Those Of Antiquity (Part 2)
How mixed economies have mixed it up over time.
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