Paul Craig Roberts on Michael Hudson’s Killing the Host
An introduction to Michael Hudson and his latest book.
Read more...Category Archives: Federal Reserve
New York Times’ Bank-Boosting, Neoliberal-Excusing Story of the Global Debt Hangover
A new story at the New York Times on the global debt overhang is an economically warped account that omits important policy options.
Read more...Central Counterparties: The New Locus of Systemic Risk?
Central counterparties, also known as central clearinghouses, were supposed to reduce systemic risk. That story is not playing out according to its script.
Read more...Money and Banking: How the Fed Controlled Interest Rates Before and After the Crisis
How does the Fed control interest rates? A primer.
Read more...How Central Banks (and Even Keynes) Misled the Public About Banking and Money
How and why central bankers and conservative economists created the bogus “fractional reserve” and “debt intermediation” theories of banking.
Read more...Money and Banking – Part 3
How the Fed balance sheet works and why what we, the public, consider to be money is a debt of the Federal Reserve. Part 3 of a series.
Read more...Funds Hold Most Cash Since GFC
Fund manager cash holdings are at crisis-bottom levels, typically a sound bullish indicator. But will history predict the future this time?
Read more...Investment Manager GMO Debunks Mythology of “Sound Finance,” or Deficit Hawkery
Yves here. Sometimes it is best to let things speak for themselves. In that spirit, I am embedding a very important paper by the well-respected investment management firm GMO which debunks the tenets of “sound finance,” meaning the claim that governments need to balance their budgets. I expect to be referring to it regularly, particularly […]
Read more...Money and Banking – Part 2
How the Fed balance sheet works and why what we, the public, consider to be money is a debt of the Federal Reserve.
Read more...Marshall Auerback: What US Treasury Yields Might Be Signalling
Bond yields warn of deflation. How real is this worry?
Read more...Dollar Dominance: Deconstructing the Myths and Untangling the Web
It is not dollar hegemony that rules the world, but the global financial system which gives the dollar its place of privilege.
Read more...Ilargi: 2016 Is An Easy Year To Predict
Deflation will become an even more powerful and destructive force in 2016.
Read more...Randy Wray: Debt-Free Money and Banana Republics, Part II
More discussion of the problems with the “debt-free money” construct, to the extent that it can even be called a construct.
Read more...The Fed’s New “Operation Twist”: Twisted Logic for Bank Profits at the Expense of the Real Economy
How did Janet Yellen and the Federal Reserve justify their rate increase now, despite strong signs that there is little economic basis for doing so?
Call this an exercise in twisted logic, plain and simple.
Read more...Timothy Geithner Corrupting Youth, Um, Telling His Version of the Crisis
In case living through the crisis and its aftermath wasn’t bad enough, you can hear Timothy Geithner’s version of events…at your expense.
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