The Sterling Depreciation of 2007-2008 and Its Implications for Brexit
The unexpected impact of the fall in sterling in 2007-2008 suggests Brexit could produce a drastic drop in UK living standards.
Read more...The unexpected impact of the fall in sterling in 2007-2008 suggests Brexit could produce a drastic drop in UK living standards.
Read more...The Brexit vote was a stunning repudiation of neoliberalism and austerity. But what comes next?
Read more...Socrates described how the use of debt by the elite to strip the lower orders of their property sets up revolutions.
Read more...Yves here. This post corrects some of the misleading accounts of the history of the Puerto Rico’s debt crisis and describes how the neoliberal remedy is producing an Ireland-style exodus of the young. By José A. Laguarta Ramírez. Originally published at Triple Crisis At least 23 of the 49 people killed in the mass shooting […]
Read more...Financial crises move the struggles between debtors and creditors into the political sphere.
Read more...North Carolina’s House has voted to exit a toll road deal despite high expected cancellation costs.
Read more...Australia and other countries had the opportunity to reduce financial fragility. They may soon discover the cost of doing too little.
Read more...Student debt isn’t just a millstone around young people’s necks; it’s weighing down the economy.
Read more...Price deflation, and classic debt deflation dynamics, are staring to appear in India and China.
Read more...Bagehot outlined some of the requirements for global money. Are we closer to a solution?
Read more...Spain demonstrates some of the costs and dislocations created by negative interest rate policies.
Read more...Sadly, mortgage servicers are still very much in the document fabrication and forgery business.
Read more...Investors got a big dose of bad news about the economy and geopolitics and reacted accordingly.
Read more...A debunkng of the claim that finance is special and should be treated accordingly.
Read more...Yves here. Steve Waldman wrote a definitive post in 2009, Capital can’t be measured, on a core issue that Black discusses here. A key section: So, for large complex financials, capital cannot be measured precisely enough to distinguish conservatively solvent from insolvent banks, and capital positions are always optimistically padded. Given these facts, and I […]
Read more...