financialisation
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Michael Hudson: The End of Western Civilization – Why It Lacks Resilience, and What Will Take Its Place
The greatest challenge facing societies has always been how to conduct trade and credit without letting merchants and creditors make money by exploiting their customers and debtors. All antiquity recognized that the drive to acquire money is addictive and indeed tends to be exploitative and hence socially injurious. The moral values of most societies opposed… Continue reading
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Dr. Wolfgang Streeck: “We Are Being Governed by An Oligarchy”
8 June 2020 — American Herald Tribune Mohsen Abdelmoumen: Can Europe survive the Covid-19 crisis? Continue reading
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Theft or exploitation?- a review of Stolen by Grace Blakeley
All our wealth has been stolen by big finance and in doing so big finance has brought our economy to its knees. So we must save ourselves from big finance. That is the shorthand message of a new book, Stolen – how to save the world from financialisation, by Grace Blakeley. Continue reading
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Books: Review of Alan Nasser’s, Overrripe Economy
Alan Nasser’s Overripe Economy is a profound historical look at the U.S. economy from the 1870s on that not only brings the lessons of its history and development up to the present, but offers deep insights into the economic bases for its “degeneration” from rapacious but productive capitalism to its present financialized capitalism replete with… Continue reading
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City of London: The shocking study no mainstream media outlet dared to publish
A seriously important and highly credible study was published five months ago last October. It was completely ignored by all of the mainstream media. Not one took the opportunity to publish the stunning revelations for fear of what might happen if they did. The report has unpalatable political consequences for the government – in fact,… Continue reading
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BREXIT, THE END GAME
The City of London, until recently, was responsible for channelling 40% of global financial flows. This daily flow of financial sewerage comfortably exceeds the value of an entire year’s output for the whole UK economy. Skimming just the smallest commission thus yields unmatched profits despite the fact that less than one penny in every Pound… Continue reading
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Squalid London – Our Own Swamp. Corrupt Money and The City of London By True Publica and Craig Murray
As HMS BrexitBrittania looks ever more likely to head in the same southerly direction as mothership Titanic, there is one backstop where all parliamentarians can agree – The City of London, often referred to as Britain’s second empire, must be saved at all costs. Continue reading
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The Spider’s Web: Britain’s Second Empire (Documentary)
At the demise of empire, City of London financial interests created a web of secrecy jurisdictions that captured wealth from across the globe and hid it in a web of offshore islands. Today, up to half of global offshore wealth is hidden in British jurisdictions and Britain and its dependencies are the largest global players… Continue reading
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Video: Smoke and Mirrors of Corporate Buybacks Behind the Market Crash By Michael Hudson
Michael Hudson, the author of Killing the Host: How Financial Parasites and Debt Destroy Global Economy, says the stock market crash on Monday has very little to do with China and all to do with shortermism and buybacks of corporations inflating their own stocks. Continue reading
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Michael Hudson: The New Cold War’s Ukraine Gambit
Finance in today’s world has become war by non-military means. Its object is the same as that of military conquest: appropriation of land and basic infrastructure, and the rents that can be extracted as tribute. In today’s world this is taken mainly in the form of debt service and privatization. That is how neoliberalism works,… Continue reading
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Can the Top 10% Prop Up the Whole Economy? By Charles Hugh Smith
Since the entire economy depends on consumption for its “growth,” and discretionary consumption is financed with either cash or debt, that leads to two questions: 1) who has cash to spend on non-essentials and 2) who is credit-worthy enough to borrow money for non-essentials? Continue reading
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Phyllis Clarke Memorial Lecture: The Systemic Crisis of Financialization
Costas Lapavitsas teaches economics at the School of Oriental and African Studies, University of London. He has done research in the political economy of money and finance, the Japanese economy, the history of economic thought, economic history, and the contemporary world economy. Continue reading
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Books: The Importance of State Theory By Bob Jessop
Leo Panitch and Sam Gindin’s long-awaited The Making of Global Capitalism, said to be ten years or more in the making, is ‘about globalisation and the state’. More precisely, Panitch and Gindin use its 450 pages to provide an important, informative, and well-written account of the predisposing factors, emergence, expansion and transformations, of global capitalism,… Continue reading
The New Dark Age 