Michael Hudson on Parasitic Financial Capitalism
An interview with Michael Hudson on his latest book, Killing the Host, which focuses on the destruction wrought by financial capitalism.
Read more...Category Archives: Currencies
Frances Coppola: The Great Yield Divergence
Puzzling over the Great Divergence of real and nominal yields. Ever since the Great Depression, nominal yields have been persistently above real yields Yet in the previous 200 years, despite periods of fiat currency and high inflation, real and nominal yields didn’t diverge. Why do they now?
Read more...Frances Coppola: Rethinking Government Debt and Monetary Sovereignity
Debunking the uniformed and regularly hysterical mainstream treatment of government debt and deficits.
Read more...Chris Hedges and Leo Panitch: We are All Greeks Now
Leo Panitch and Chris Hedges discuss how nature of imperialism today is financial power.
Read more...Credit Rating Agencies and Brazil: S&P as Neoliberal Enforcer
Mind you, the rating agencies are far from the only neoliberal enforcers as far as emerging economies are concerned. But it is nevertheless instructive to compare an official rationale with data.
Read more...Nomi Prins: Mexico, Federal Reserve Policy and Danger Ahead for Emerging Markets
Mexico’s problems could again ripple through Latin America where eroding confidence, volatility, and US dollar strength are already hurting economies and markets.
Read more...Wolf Richter: Corporate Revenue Recession Spreads past Dollar, Energy
Now that 495 of the S&P 500 companies have reported second quarter earnings, something has become abundantly clear: 2015 is going to be a nasty year for corporate revenues.
Read more...Don Quijones: Why Are the Four Richest Men in Mexico Getting Crushed?
By Don Quijones, of Spain and Mexico. Originally published at Wolf Street Tough times for Mexico’s very richest. A couple of weeks ago, I reportedthat Carlos Slim, once the world’s richest man and the undisputed Big Boss of Slimlandia, as Mexico has come to be called, lost $7 billion in the first seven months of 2015. But […]
Read more...Perry Mehrling: Defending the RMB
It’s hard to short China, but not so hard to short China’s currency, and that’s a problem for the central bank.
Read more...More on Why Bank IT and Payment Systems Matter
The IT challenges of a Grexit are important not only in and of themselves, but as a window into the creaky state of bank IT and the systemic risk it poses.
Read more...Currency Depreciations Don’t Boost Exports as Much as They Used To
A new study has important implications for IMF policies as well as for Greece, both “reformers” and those who advocate a Grexit.
Read more...Louis Proyect: A Brief Response to Joe Firestone on IT/Grexit
Why believing that there must be an easy way for Greece to pull of a Grexit does not make it so.
Read more...Wolf Richter: It Starts – Broad Retaliation Against China in Currency War
Struggling economies that compete with China are going to protect their exports against Chinese encroachment via currency depreciation.
Read more...Louis Proyect: Once More on IT and a Return to the Drachma
Why selling magic sparkle ponies, in the form of presenting a conversion to the drachma as easy when it isn’t, makes for bad IT and even worse policy prescriptions.
Read more...Michael Pettis: Do Markets Determine the Value of the RMB?
A thorough discussion of the background and implications of the so-far modest devaluation of the RMB.
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