Bad Loans Still Too High at Eurozone Banks, ECB Warns
The ECB is concerned that the latest fix for bad loans still leaves banks in a weakened state.
Read more...Category Archives: Credit markets
The Inverted Yield Curve
Should we trust the recession warning the yield curve is sending?
Read more...Seventeen Ways to Think About the Finance Curse
A recap of the issues surrounding the Finance Curse, the advanced economy economy analogy of the resource curse.
Read more...Wolf Richter: Subprime Bites – Auto-Loan Delinquencies Spike to Q3 2009 Level, Despite Strongest Labor Market in Years
A high level of auto-loan delinquencies challlenges the cheery spin the Fed and the financial press is putting on the state of the ecoomy.
Read more...ZEN and the Art of Modern Money, Part 3 (MMT)
More MMT for people in a hurry.
Read more...ZEN and the Art of Modern Money, Part 2 (MMT)
MMT for people in a hurry.
Read more...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...ZEN and the Art of Modern Money (MMT)
Working through a primer on MMT.
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...World Bank Financialization Strategy Serves Big Finance
The World Bank continues its proud tradition of making the world safe for rentiers, um, financiers.
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 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: The Inherent Financial Instability in Western Civilization’s DNA (Part 3)
By John Siman, who is also the author of Part 1 and Part 2 in this series John Siman: It seems that unless there’s a Hammurabi-style “divine king” or some elected civic regulatory authority, oligarchies will arise and exploit their societies as much as they can, while trying to prevent the victimized economy from defending […]
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