Browsing Category

Monetary System

It’s the debt, stupid

Note from June 2010: You'll forgive me if I have conflated private and public sector debt below as if they are the same. They are not. When I speak of deficit spending in the same voice as private sector debts, I really point to deficits to…

Bear Stearns collapses

The credit bubble has claimed its first major finance company: Bear Stearns. The venerable firm, which traded as high as $160 in 2007 and was trading above $60 just last week, was bought for a mere $2 per share by rival JP Morgan Chase and…

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More