Category Archives: Credit markets

Crash Landing? Part 1 – Bonfire of the Banks

Satyajit Das looks at how banks got themselves into so much trouble and what the recent bailouts portend.

The Fed Accused of ‘Playing With Fire’ After Latest Rate Hike

The Fed confirms that its priority is crushing workers, and it believes it’s protected banks enough to allow it to continue.

How Monetary Policy Affects Bank Lending and Financial Stability: A ‘Credit Creation Theory of Banking’ Explanation

Another nail in “loanable funds”, which justfies austerity but does not explain how central banks produce credit and monetary growht.

How the Current Refusal to Deal Harshly with Failing Banks and Their Executives Will Create an Even Bigger Crisis

Why the expected official response to this bank panic wil make matters much worse, just not right away.

Lack of Grownups in the Room Exacerbates Bank Freakout

The bank firefighting squad seems to be out on a bender.

Were the Bank Bailouts the Result of Rising Wealth Concentration?

Are many of the explanations of the recent bank tsuris barkign up the wrong tree?

Michael Hudson Talks to Ben Norton About SVB and Bank Failures

Michael Hudson gives a wide-ranging talk on SVB and other recent bank collapses, focusing on the considerable role of misguided Fed policies

SVB and the Only Choice We Have

How the SVB bailout confirms the dedication of the elites to self interest only.

Satyajit Das: SVB Collapse and Bank Turmoil – Latest Chapter in the Unwinding

Peeling back more layers of the SVB implosion and its broader implications.

Why Student Debt Cancellation Is Reasonable, Not Radical

Discuss: “The right has narrowed the parameters of discussion on student debt forgiveness. Biden is not fighting back aggressively enough.”

‘Absolute Hypocrisy’: GOP Unveils Bill to Make Trump Tax Cuts Permanent While Howling About Debt

The point of the debt ceiling melodrama is to give fiscal hawks another whack at budget-cutting. Tax increase are therefore off the table.

Russia’s Budget Deficit Jumps Amid Plunging Oil Revenues

Russia had a budget shortfall due to a fall in energy-related tax receipts. How serious a problem is this development?

Economists Radhika Desai & Michael Hudson Explain Multipolarity, Decline of US Hegemony

The new year gets off to a rousing start with the launch of a new bi-weekly talk show with Radhika Desai and Michael Hudson.

Michael Hudson Discusses the Future of Europe and Global Restructuring

Michael Hudson describes how the war with Russia is changing the economic and political order, and not to the advantage of Europe and the US.

Stocks Open Eyes, See Fed Pivot Hawkish; ECB Hike into Recession, Start QT; BoE Hike into Recession; SNB Hike, Sell Foreign Currency Assets

ECB’s assets drop by €800 billion. Mexico hiked too today, way ahead of the Fed, keeps peso from falling against USD.