privatisation

The existence of capital controls eliminates contagion and makes it possible to bail-in deposits that would normally be considered to have systemic consequences. The more I look at it, the less benign this bailout deal appears. Indeed it…

The situation in Greece is not about Greece at all. It is about enforcing an economic framework onto all Eurozone countries. And because the policy goal is primarily about enforcing this economic framework everywhere in the eurozone, there…

In the links today, the biggest threads outside of the NSA scandal were on Greece and Europe. I believe the economy there is bottoming and I want to discuss some of the news flow. There was also a rate decision by the Japanese central bank…

I had intended my commentary here to be on US interest rates but i have already written that (silver level) post. So I will refer you there. Instead, I will mention Europe again because the links are filled with European stories.

The financial plan is basically an asset grab. They want to load the whole economy down with debt. A consumer will come in and say, I’d like to take out a loan. They’ll say, how much do you earn? Everything over subsistence they’ll want as…

Can Russia get the best of both worlds by freeing its economy from technologically unnecessary charges and rentier tolls paid to special interests? Such expenditures prevent the economy from developing. That is the basic cause of poverty –…

In this interview with Real News Network, Michael Hudson argues that opportunists are using this debt crisis as a grab bag to strip the state of its assets and collect those rents for their own private wealth accumulation. He says what’s…

This article was published in the NYT more than 20 years ago, forecasting precisely what has happened in Russia

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…