Another nail in "loanable funds", which justfies austerity but does not explain how central banks produce credit and monetary growht.
Credit markets
The bank firefighting squad seems to be out on a bender.
Are many of the explanations of the recent bank tsuris barkign up the wrong tree?
How the SVB bailout confirms the dedication of the elites to self interest only.
Michael Hudson gives a wide-ranging talk on SVB and other recent bank collapses, focusing on the considerable role of misguided Fed policies
Peeling back more layers of the SVB implosion and its broader implications.
Discuss: "The right has narrowed the parameters of discussion on student debt forgiveness. Biden is not fighting back aggressively enough."
The point of the debt ceiling melodrama is to give fiscal hawks another whack at budget-cutting. Tax increase are therefore off the table.
Russia had a budget shortfall due to a fall in energy-related tax receipts. How serious a problem is this development?
The new year gets off to a rousing start with the launch of a new bi-weekly talk show with Radhika Desai and Michael Hudson.