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...Category Archives: Credit markets
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.
Read more...CalPERS Keeps Board in the Dark About How Private Equity “Subscription Line Financing” Gooses Staff and General Partner Pay and Systemic Risk
CalPERS is asleep at the switch yet again.
Read more...Trump Treasury Secretary Steve Mnuchin Renounces Commitment to Glass-Steagall While Saying He Isn’t
Steven Mnuchin demonstrates that he is a shameless liar even by Goldman standards.
Read more...China Blinks!
China taps the brake…..
Read more...The Financial Crisis That Spawned Austerity, Corporatized the Democratic Party and Gave the World Donald Trump
Why New York City’s fiscal crisis was a watershed event.
Read more...China Sickening into Classic Emerging Market Crisis
More and more analysts are getting nervous about China. Are there concerns warranted?
Read more...Is the Great China Crash Upon Us?
No large economy has made a crisis-free transition from being investment/export led to consumption led. Is China finally starting its Big One?
Read more...Wolf Richter: #Carmageddon Not Yet, But Hot Air Hisses out of Auto Bubble
Despite record incentives, auto sales decline speeds up, inventory bloat spreads to zombie malls.
Read more...The Fall of the Latin American Left, Part III: Argentina and the Right Winning Elections
How the Kirchner program in Argentina ran into the buzz saw of currency markets.
Read more...“Howard Marks Seems to Read Naked Capitalism” on Private Equity Fund-Level Borrowing That Juice Reported Returns While Increasing Risks
Storied investor Howard Marks penned a not-very-positive post on private equity subscription lines of credit, echoing our earlier warnings.
Read more...Wolf Richter: Private Equity in the Thick of Bricks and Mortar Retail Implosion
The distress at traditional retailers has been made much worse by private equity asset stripping rendering them fragile.
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