banks

Michael Hudson argues forcefully that the juxtaposition of bailouts for the largest American banks and cuts for ordinary Americans makes clear that government is promoting a redistribution of income to upper income brackets. He sees the…

If you are an investor, businessperson or employee, what you care about is outcomes. You want to know what’s likely to happen in the economy and in the markets. That is what this site is all about. What I see says that cuts were coming.…

Now obviously, there are the issues of efficiency and fairness to think about. However, I want to look at this from a pure forecasting perspective. and stick to the tack I began in October 2010 with “Less Policy Advocacy and More Policy…

The economy is complex in the extreme. And what economists tend to do is model it by making a few simplifying and clarifying assumptions. Here’s the problem.

Hoenig, like many Fed leaders from the Reserve banks outside of Washington and the money centers in New York, Boston and San Francisco, is more comfortable with safe and boring banking than the higher risk model that brought the global…

In China, the persistence of inflation pressure has brought “shadow banking” into a topic of hot debate recently. According to a study issued by the People's Bank of China in 2010, non-banking sector lending has expanded to 63.3 trillion…

The fact that this withdrawal of liquidity has already begun, though, does make the situation more acute. The question is what to do about it. It seems to me that the present path is not instilling a sense of confidence in investors.

Only a referendum can commit the Greek government to repay new debts imposed under austerity. Only a referendum can prevent property that is privatized from being re-nationalized. Such a transfer is not legitimate under commonly accepted…

The following report by Fitch from Tuesday highlights the cross-Atlantic channel through which credit market volatility could spread. US money markets have significant exposure to the European banking system. The worry is that a Greek…

Here is a bit more detail courtesy of Fitch, the ratings agency, outlining exposure to the European Periphery.