The Real Cause of the Italian Bank Bailouts and Euro Banking Troubles
How a banking union has created deep divisions that undermine the Eurozone’s stability.
Read more...Category Archives: Credit markets
Debts That Cannot Be Paid Will Not Be
Capitalism is probably already insolvent.
Read more...Monetary Sovereigns, Monetary Subjects: Modern Money & The Criminal Legal System
On the connection between money, and in particular monetary sovereignity, and the criminal justice system.
Read more...Bill Black: The CFPB Arbitration Rule is Pro (Honest) Businesses
The CFPB takes a modest but important step to rein in fraud against consumers, which has banks hoppin’ mad.
Read more...The Chinese Debt Time Bomb
The latest debt data out of China adds to the expected end-game of a big reversal of fortunes.
Read more...Can EU Actors Keep Using Common Law After Brexit?
The widespread use of English law in financial contracts poses yet another set of tricky post-Brexit issues.
Read more...Yanis Varoufakis: Latest Eurogroup Statement Keeps Greece on the Austerity Rack
The Eurogroup doubles down on Greek debt extend and pretend, to its members political advantage and at great cost to Greek citizens.
Read more...Wolf Richter: This Toxic Trifecta for Auto Loans is Fueling #Carmageddon
Recent vintage auto loan securitizations are going rancid, and for good reason.
Read more...Trump Administration Welshes on “Repeal Dodd Frank” Promise, Does Not Back Key Elements of House Bill; Seeks to Give Banks Lots of Other Goodies
Banks are champing at the bit to get Dodd Frank “reform,” when for many, the changes will actually increase their costs.
Read more...Trump, Republicans Make Bogus Case for Bank Deregulation as Senate Certain to Curtail House Dodd Frank “Reform”
Trump and the Republicans are moving forward with deregulation plans that serve big bank bottom lines, not the broader economy.
Read more...Don Quijones: Shock Waves Spread from Spain’s New Banking Crisis
Market consequences of latest banking crisis in Spain, triggered by the collapse of housing prices that caused plunge Banco Popular shares to plunge.
Read more...Why International Financial Crises?
Despite the high cost of financial crises, the world seems no closer to making needed reforms.
Read more...Michael Hudson: Are Students a Class?
Students as the new NINJA creditors, and the broader implications of the use of debt as an instrument of social control.
Read more...The New New Deal
The myth of the virtues of markets is past its sell-by date. Time for a new guiding principle, and the New Deal may be the place to start.
Read more...Don Quijones: Catalonia Threatens Spain with “Financial Bloodbath”
Yet another European debt/austerity-induced game of chicken, this one of Catalonia v. Spain.
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