Left-wing president shows what can happen with political will to do what’s right for ordinary people New Brazilian president Lula da Silva is reversing the cuts to Brazil’s health programme imposed by right-wing former president Jair Bolsonaro. Da Silva, who won the presidential election at the end of October despite extensive right-wing attempts to rig […]
Crisis
Damning indictment of parts of union movement Incoming TUC general secretary Paul Nowak has appalled many of the movement’s activists by giving Keir Starmer a free pass not to increase public spending or revoke the UK’s repressive anti-trade union laws if Labour gets into power. Mr Nowak said that Labour can’t ‘turn on the spending […]
Vice-president of Royal College of Emergency Medicine Ian Higgingson doesn’t expect to be trampled in the rush of politicians coming to experience appalling situation they’ve created Ian Higginson, Vice-President of the Royal College of Emergency Medicine, has challenged politicians to come and experience for themselves the horrors faced by NHS staff and patients, in an […]
I divide the regimes for the global capital markets into three states: crisis, pre-crisis, and no crisis. The one term that is non-standard is pre-crisis; it is a state where something has gone horribly wrong in funding markets, but it is not yet well known and there is a hypothetical possibility of a full financial crisis being averted.
Recent discussions about bank runs in economics has led me to the conclusion that economists want to lump practically all behaviour around default as a “run,” which is not helpful. In order to have a better grasp of the situation, we need to distinguish various possibilities — runs, cascades, squeezes, and good old fashioned financial crises.


