Letting big banks go to the wall is not on the agenda of states today, but saving them prevents the ‘creative destruction’ capitalism needs to renew itself. Michael Roberts is an Economist in the City of […]
The bind the system is in is this: it can’t reverse 13 years of Quantitative Easing without also reversing the asset-price inflation which resulted from it, which the financial system is built on. Michael Hudson […]
Report in CNN on the chaos at Swiss bank Credit Suisse today. Is this the start of a new financial crisis? Read the article HERE.
There is nothing that money cannot buy in Washington D.C. Dean Baker is a Senior Economist at the Center for Economic and Policy Research (CEPR) Cross-posted from the CEPR Blog Photo: Gage Skidmore licensed under […]
Iurii Motov/Shutterstock Richard Werner, University of Winchester Fifty years ago, a war broke out in the Middle East which resulted in a global oil embargo and a dramatic spike in energy prices. The war, between […]
The spectacular collapse of Silicon Valley Bank was caused by corruption, financial recklessness, and poor decision-making. With its bailout echoing 2008’s eager bailouts for the rich, it begs the question: How much longer will Americans […]
A wider lens on the dynamics driving the Silicon Valley Bank collapse. Michael Roberts is an Economist in the City of London and a prolific blogger. Cross-posted from Michael Roberts’ blog LAST week, US Fed Chair Jay […]
In serving the financial sector, the Fed painted itself into a corner: What would happen when interest rates finally rose? We are seeing the answer. Michael Hudson is President of The Institute for the Study […]
The rapidly rising interest rates are not only hitting jobs and the property markets, but apparently also banks. Michael Roberts is an Economist in the City of London and a prolific blogger Cross-posted from Michael Roberts’ blog […]
As a consequence of the European Central Bank (ECB) raising its interest rates, banks in the euro area will earn €70 billion in unearned windfall profits. Cross-posted from Positive Money Europe There is a huge […]
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