The looming quadrillion dollar derivatives tsunami part 2 Ellen Brown The Perverse Incentives Created by “Safe Harbor” in Bankruptcy In The New Financial Deal: Understanding…
The post The looming quadrillion dollar derivatives tsunami – part 2 first appeared on Economic Reform Australia.Financial System
A simple solution to the banking crisis that no country will implement Steve Keen Though Silicon Valley Bank contributed to its own demise, the root…
The post A simple solution to the banking crisis that no country will implement first appeared on Economic Reform Australia.Reserve Bank of Australia Review fails ordinary Australians Anis Chowdhury The latest interest rate hike of the RBA (Reserve Bank of Australia) comes before the…
The post Reserve Bank of Australia Review fails ordinary Australians first appeared on Economic Reform Australia.The looming quadrillion dollar derivatives tsunami part 1 Ellen Brown On March 10, the US Silicon Valley Bank (SVB) collapsed and was taken over by…
The post The looming quadrillion dollar derivatives tsunami – part 1 first appeared on Economic Reform Australia.Fifteen years after the Lehman Brothers collapse and following the failures of Silicon Valley Bank, First Republic Bank, Signature Bank, as well as the forced acquisition of Credit Suisse, banks are back in the headlines. Daniel Beunza and Pierre-Christian Fink assembled an excellent panel of sociologists and social scientists, studying banks, regulation and finance, to […]
The dead parrot of mainstream economics Steve Keen For those that are too young to remember, the legendary English comedy show Monty Python had a…
The post The dead parrot of mainstream economics first appeared on Economic Reform Australia.The lockdowns and the stimulus required to keep the economy alive helped drive inflation. Then the Fed jacked up interest rates. And all hell broke loose. On Friday March 10th, 2023, Silicon Valley Bank (SVB) died of Covid. Alright, it’s a little more complicated than that, but Covid lockdowns followed by massive government stimulus were a critical – and massively under-acknowledged – factor in propelling the bank’s demise. At the heart of the crisis is the gigantic pile of low-interest […]
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The money multiplier – neat, plausible, and utterly wrong Lars Syll The mainstream textbook concept of money multiplier assumes that banks automatically expand the credit…
The post The money multiplier – neat, plausible, and utterly wrong first appeared on Economic Reform Australia.The fantasy economics of the Nobel prize How banks create money Steve Keen Economics students are taught that banks lend money that comes from the…
The post The fantasy economics of the Nobel prize first appeared on Economic Reform Australia.The Nobel Prize for mediocrity and irrelevance Steve Keen I was going to ignore the Nobel Prize for Economics, which is always awarded to economic…
The post The Nobel Prize for mediocrity and irrelevance first appeared on Economic Reform Australia.