Category Archives: Credit markets

The Coming Debt Crisis

Emerging market economies loaded up on debt after the crisis, which is now looking like a particularly bad move.

Coronavirus: More Wheels Coming Off

Some scattered but nevertheless telling signs of coronavirus impact.

Radical Imagination: Imagining How the World of Finance Really Works

Michael Hudson rings the changes on some of his favorite themes: the logic of ancient debt jubilees. and the role of finance in contemporary rent extraction.

Michael Hudson: A Brady Bond Solution for America’s Unpayable Corporate Debt

Another sign that America has gone banana republic: Brady Bonds, used in the Latin American debt crisis, would be suitable medicine for our corporate debt hangover.

Debt and Power: An Interview With Michael Hudson

Micheal Hudson explains how the ancient approach to managing debt is far superior to ours.

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.

Michael Hudson: A Debt Jubilee is the Only Way to Avoid a Depression

In the face of massive economic calamity caused by coronavirus, Michael Hudson argues a debt jubilee is the only way to avoid a depression.

Why Sending $1,000 Checks to Everyone Won’t Solve the Coronavirus Crisis (Updated)

Why the Republicans’ planned coronavirus bazooka isn’t big enough.

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.

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.

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.

How the COVID-19 Shock Is Different

Looking at COIVD-19 impacts.

After Bloody Day, Coronavirus Meltdown Continues. Big Danger: Italian and Eurobanks Are Set To Blow

So many coronavirus panics that a looming risk is getting little notice: implosion of Italy’s banks, a potential Credit Anstalt event.

Oil Price Crash: 50% Of U.S. Shale Could Go Bankrupt

Yesterday’s oil price downdraft, if not meaningfully reversed, will create a world of hurt among US producers, most of all shale gas players.