Professor Mark Blyth and Professor Adam Tooze explore how coronavirus is laying bare the hidden risks embedded within our financial systems and how central banks worldwide are scrambling to paper over those chasms of danger. To them, it seems that the Federal Reserve has rewritten its remit, and they discuss how rather than try and keep prices stable or keep unemployment low, the sole focus of the Fed right now seems to be supporting asset prices at any cost, even if that means bailing out leveraged entities who took on too much risk. They also discuss Europe and how this crisis is heightening the contradictions within the Eurozone and pushing the European banking system to the brink. Filmed on April 22, 2020.
To get out of the mess we’re in, we need a new story that explains the present and guides the future, says author George Monbiot. Drawing on findings from psychology, neuroscience and evolutionary biology, he […]
Moderate Rebels Facing the Covid-19 pandemic, the US Congress rammed through the CARES Act — which economist Michael Hudson explains is not a “bailout” but a massive, $6 trillion giveaway to Wall Street, banks, large […]
Companies and governments are racking up massive debts to cope with the impact of COVID-19. Apart from grants for a month or two of partial salaries, the approach has largely been to extend easy short-term […]