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Black Friday 1929 market fundamentalist wet dreams of eternal growth took a serious hit. The stock market bubble exploded and crashed. Today​ we have a stock market situation starting to more and more remind us of that in 1929. Those of us who know Keynes-Fisher-Kindleberger-Minsky-Shiller and have not completely forgotten all about economic​ history are […]

Mastercard and Visa have each given undertakings to the Reserve Bank that they will not engage in ‘tying conduct’ involving their debit and credit card products.

This paper provides a retrospective assessment of the relationship between bank profitability and interest rates, focusing on the period when rates were very low or negative. To do this we use new confidential bank-level data covering about 1,500 banks operating in 10 banking systems, with most samples spanning the two decades up to the end of 2019. Our analysis confirms the empirical regularity that declining interest rates reduce banks’ net interest margins. However, we find a smaller effect than in previous studies: on average across countries, a 100 basis point fall in short-term interest rates results in a 5 basis point decline in net interest margins in the short run. Notably, there are substantial cross-country differences, and, in some cases, the estimated effect is greater. Importantly, the effect of lower interest rates on net interest margins is larger than the effect on asset returns, suggesting that banks can shield overall profitability in the face of lower interest rates.

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And Democrats couldn’t be happier Kevin managed to keep the government from defaulting and losing his speakership which is something I didn’t think he was capable of doing. But it could be a Pyrrhic victory after all. The way they’re going they could end up losing the House in 2024: As the drama between Speaker KEVIN McCARTHY and hardline conservatives roils the House, Democratic leaders are watching with total fascination — and giddiness. For years, their own caucus has fallen in line behind a masterful political tactician who bent over backwards to protect her most vulnerable members — and by extension, her majority — often steamrolling progressives in the process. (Yes, we’re speaking of the one and only NANCY PELOSI.) Now, as Democrats see it, McCarthy is doing the exact opposite to protect his own gavel — and playing right into their hands.

Source - Patreon

Source - Patreon

Source - Patreon

The Government is expecting taxpayers to pay through their fuel bills for the transition to zero use of fossil fuels but has given no indication of the extra cost

Delaware Democrats could pass GOP legislation letting businesses cast ballots in a municipal election.

It’s a celebration of stupid.

Dentists around the country have today called for a minutes silence and a day of remembrance after it was announced that the iconic sweet Fantales were to be discontinued. ”This one definitely hits hard,” said Bellerive based dentist Dr Isaac... Read More ›

In my latest article (open access) for Review of International Studies I examine Indigenous resistance to neo-extractive development in Latin America and ask what this means for International Relations (IR). I contend that Indigenous resistance can disrupt traditional thinking in IR via an ‘insurrection of subjugated knowledge’.

The post Challenging the Coloniality of Space in International Relations appeared first on Progress in Political Economy (PPE).

When science shares freely, industry—much more than the public—reaps the rewards.

The post The Public Cost of Private Science appeared first on Nautilus.

ICE uses LexisNexis to track people's cars, gather information on people, and make arrests for its deportation machine, according to a contract.

The post LexisNexis Is Selling Your Personal Data to ICE So It Can Try to Predict Crimes appeared first on The Intercept.