Wall Street’s $13 Trillion Cover Story

photo credit: M J M Michael Hudson Free money creation to bail out America’s elite financial speculators, but not for Social Security or Medicare Only the “Crazies” Get the Bank Giveaway Right Kindly borrowed from Michael-Hudson.com Financial crashes were well...

How Financial Oligarchy Supplants Sovereignty

photo credit: George Laoutaris Will Greece Let EU Central Bankers Run Riot Over Sovereignty? Michael Hudson When Greece exchanged its drachma for the euro in 2000, most voters were all for joining the Eurozone. Their hope was that it would ensure stability, and that...

Don’t be surprised if the GDP is shocking

photo credit: Jasmic Gavin R. Putland in today’s Crikey Enewsletter: Without the benefit of reading today’s balance-of-payments figures from the ABS, I’m expecting tomorrow’s GDP figure for the March quarter to be worse than the median forecast...

Tinkering on the Edge

photo credit: flatworldsedge Economic Answers Way off the Mark by Karl Williams Another neoclassical excuse-maker has just hit the airwaves, claiming to identify the causes of the GFC and even hailing Alan Greenspan as the prophet who was ignored as the GFC loomed!...

Ghosting Fiscal Conservatism

photo credit: Juror8 Melbourne’s Genuine Auction Clearance rate was again under 50%. The published clearance rate by the REIV only includes ‘called in’ auctions. The market has been averaging 98 ‘unreported’ auctions for the last month....