How Finance Costs Too Much and Fails to Deliver
The costs of looting by the financial services industry are even more staggering than you probably imagined.
Read more...Category Archives: Credit markets
Will Italian Banks Tear Down Europe?
Will Italian banks be the detonator of a political and economic crisis?
Read more...Beyond Credit Rating to Stabilizing an Unstable Economy
The third part in a three-part series on how to fix what is wrong with credit rating agencies.
Read more...Michael Hudson: William Goetzmann’s Money Changes Everything – A Travesty of Financial History Which Bank Lobbyists Will Applaud
Why William Goetzmann’s Money Changes Everything is unadulterated Austrian twattle.
Read more...Instability in Capitalist Economies and a Better Way to Think About Credit Risk
Instability in capitalist economies comes from the quest for profit. And that has implications for credit ratings that are often ignored.
Read more...How Private Credit Rating Agencies Reinforce Global Economic Instability—and What We Can Do About It
A look at a fundamental point of failure in our financial system, rating agencies, and potential remedies.
Read more...Regulator Warns Commercial Real Estate Bubble Is Biggest US Bank Risk
By the time regulators start warning of risk, as the OCC is now in commercial real estate, it’s often too late.
Read more...Political and Financial Contagion from the Italian Banking Crisis: Italy’s Exit?
Eurocrat rigidity about half-baked, never-tested bail in rules could turn an Italian banking crisis into a full bore financial and political meltdown.
Read more...Wolf Richter: The Big Unravel – US Commercial Bankruptcies Skyrocket
Commercial bankruptcies rose at a much bigger clip in early 2016 than in recent years. How worried should we be?
Read more...Unfounded Debt Fears Block Economic Recovery
Debt scaremongering as voodoo economics.
Read more...Puerto Rico ‘Rescue’ Bill to Reinforce Colonial Relationship with US
Not surprisingly. Puerto Rico is about to get a big dose of austerity…..which Latvia-style, will push more people with skills to leave.
Read more...Rebalancing, Wealth Transfers, and the Growth of Chinese Debt
By Michael Pettis, a Senior Associate at the Carnegie Endowment for International Peace and a finance professor at Peking University’s Guanghua School of Management. Cross posted from China Financial Markets. For the past ten years much of what I have written about debt in China was aimed mainly at trying to convince analysts and policymakers […]
Read more...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...Brexit: The Crisis Begins
The Brexit vote was a stunning repudiation of neoliberalism and austerity. But what comes next?
Read more...Michael Hudson: Socrates on Debt and Ibn Khaldun on the Cyclical Rise and Fall of Societies
Socrates described how the use of debt by the elite to strip the lower orders of their property sets up revolutions.
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