Currency values are important both for the real economy and the financial sector. When faced with currency market pressures, some central banks and finance ministries turn to foreign exchange intervention (FXI) in an effort to reduce realized currency depreciation, thus diminishing its economic and financial consequences. This post provides insights into how effective these interventions might be in limiting currency depreciation.
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Cross posted from La Tribune Diplomatic International. French version Mohsen Abdelmoumen: Your analysis of Mesopotamian times and the wise rule of Emperors embodied by the practice of the Jubilee (compared to the predation of oligarchies) resonate with the Islamic economic theory which forbids riba (meaning usury) and imposes that banks and creditors share the risk Continue Reading
The post War and Debt to Rule first appeared on Michael Hudson.The demise of Trussonomics was a welcome victory for decency and common sense in a minor battle within a broader class war. Sadly, the class that Liz Truss tried to bolster with copious tax and regulatory gifts will win this war by deploying an even nastier, blunter, dirtier weapon: austerity. Britain’s wealthy owe a debt […]
The post Rishi Sunak’s ‘grown-up’ austerity is designed to keep zombie capitalism alive appeared first on Yanis Varoufakis.
An analysis of 2019 data suggests that female veterans and male veterans have earnings premiums of 5.9% and 4.1%, respectively, relative to their nonveteran peers.
Cartoon for The Washington Post
Over the last few months, a group of Drupal community members from the Community Health Team have been working on updates to the Drupal Code of Conduct, with the assistance of a diverse group of community leaders and stakeholders from around the world.
The draft version of that updated Code of Conduct is now available for community review.
We are asking community members to provide constructive, actionable feedback in the Community Working Group's issue queue or share their thoughts privately via this form between now and November 30.
The ‘solution’ master-minded by global finance at COP27 to resolve the imminent environmental crisis: create a multi-quadrillion dollars’ worth of assets on the back of everything nature does and expropriate it from the global commons to make a profit.
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LYNN FRIES: Hello and welcome. I’m Lynn Fries producer of Global Political Economy or GPEnewsdocs. Today’s guest is John Bellamy Foster.
He’ll be talking about the financialization of the earth as a new ecological regime. A regime where the rapid financialization of natureis promoting a Great Expropriation of the global commons and the dispossession of humanity on a scale that exceeds all previous human history. And which is accelerating the destruction of planetary ecosystems and of the earth as a safe home for humanity. All in the name of saving nature by turning it into a market.
New polling research reveals an overwhelming majority of Australians (86%) support a government intervention in the gas industry, either through export controls, a windfall profits tax, or both. Key Findings: An overwhelming majority of Australians (86%) support a government intervention in the gas industry, either through export controls or a windfall profits tax or both.
The post Overwhelming Majority Support for Gov Intervention in Gas Price Crisis: Research appeared first on The Australia Institute.
The post Doctor Who Magazine 584 appeared first on Doctor Who Magazine.
Listen now (25 min) | Deaths in Australia are up 17% in 2022 and are at record highs in many countries. Over 2,600 Australian's have applied for the COVID vaccine compensation scheme. And no one cares...
Bank capital is the buffer on a bank’s balance sheet that allows it to absorb losses, particularly credit losses. Although there is a great deal of excitement about bank liquidity — bank runs, just like in “It’s a Wonderful Life”! — but the main danger is the capital buffer being wiped out (insolvency).
The current tightening of monetary policy is undoubtedly having an impact. While it may take some time for the slowing of inflation to flow through to the official CPI figures - especially given the level of inflation that is being imported - the economy is set to slow drastically.
The post With household incomes set to fall, we need to think about what matters in the economy appeared first on The Australia Institute.
Nov 8, 2022 ROBERT SKIDELSKY and PHILIP PILKINGTON Decades of deindustrialization have hollowed out the UK economy and made it woefully ill-prepared for wartime disruptions. As the financial speculators who funded its current-account deficits turn against the pound, policymakers should consider Keynesian taxes and increasing public investment. LONDON – A wartime economy is inherently a shortage economy: … Continue reading Too Poor for War
While considerable attention has focused on China’s credit boom and the rise of China’s domestic debt levels, another important development in international finance has been growth in China’s lending abroad. In this post, we summarize what is known about the size and scope of China’s external lending, discuss the incentives that drove this lending, and consider some of the challenges these exposures pose for Chinese lenders and foreign borrowers.
Because Twitter threads aren’t working at the moment (thanks Elon!), I’m republishing a chain of tweets about how we should rise to the challenge of democratic collapse. By George Monbiot, published on monbiot.com, 9th November 2022 Here’s where I think we now stand, and how we should respond. A thread. 1. There is a global […]
Some Fed employees enlisted in the armed forces while others helped finance war efforts by working on the sale and delivery of war bonds, and by buying bonds themselves.
What we are seeing, then, is a fictional spectacle—a pseudo-iconoclastic event.
Barbara Jankowiak, Natan Misak and Nicholas Vause Both financial market participants and regulators have suggested that investor risk appetite has declined since the beginning of the year. This post presents some evidence from credit markets consistent with such developments, and offers two possible explanations. We build on analysis in an earlier post that looked at … Continue reading Bitesize: The pricing of credit risk
I’ve written an article about the Bank of England’s recent interest rate hike — which follows similar hikes by other major central banks, most notably the Federal Reserve. In it, I argue that the hikes have nothing to do with bringing down inflation, for the simple fact that the latter has nothing do with excess demand …
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The post A Fit of the Vapours appeared first on The Perry Bible Fellowship.
While self-proclaimed debt expert Dominique Grubisa tells people she can instantly quarantine their assets, the truth is that’s done via deception. read now...