Video and transcript.Geopolitical Economy Reportby  Why 3 US banks collapsed in 1 week: Economist Michael Hudson explains Ben Norton interviews Michael Hudson (on his 84th birthday)

A market valuation problem is not a fraud problem this time around. Michale Hudson explains the big difference between this crisis and 2008. Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismThe Mechanics of a Bond Market and its Impact on the Banking CrisisMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas...

The transitory view of the current inflation episode is getting more support from the evidence. Yesterday’s US inflation data from the Bureau of Labor Statistics (March 14, 2023) – Consumer Price Index Summary – February 2023 – shows a further significant drop in the inflation rate as some of the key supply-side drivers abate. All the data is pointing to the fact that the US Federal Reserve’s logic is deeply flawed and not fit for purpose. Today, I also discuss the stupidity that is about to...

[unable to retrieve full-text content]Why the Bank Crisis is Not Over The crashes of Silvergate, Silicon Valley Bank, Signature Bank and the related bank insolvencies are much more serious than the 2008-09 crash. The problem at that time was crooked banks making bad mortgage loans. Debtors were unable to pay and were defaulting, and it turned out that the Continue Reading The post The Mechanics of a Bond Market and its Impact on the Banking Crisis first appeared on Michael Hudson.

Properly measured, consumer prices have been in *deflation* since last June  – by New Deal democrat The majority wisdom is that the Fed is going to go ahead and raise interest rates again when it meets next week. I have been arguing for months that the data has not supported interest rate hikes. As of this morning, I am officially taking the position that, properly measured, inflation has been conquered, and the US economy has actually had...

Quick two weeks went by and have been pretty busy. Starting to warm-up in Arizona. Been spending more time outside while I can and before it gets hot. Environment, Consumerism, Technology Micro-Apartment Makeover Includes Mini-Loft and Space-Saving Furniture, treehugger.com, Kimberley Mok. The comfort and livability of a 300-square-foot apartment are beautifully improved in this smart renovation. What changes after the Norfolk Southern...

For some reason, I did not release this one on the 13th. Not sure why. I was at the eye doctor for sure and he was removing membrane from the retina. Never felt a thing. So far so good. It might just be me thinking it improved my right eye vision. I was able to read the chart which the NP said was positive. I was told many people could not after surgery. Anyway, there are any number of good posts on different blogs you can read. This one by Dean...

In The World in the Model, Mary Morgan characterizes the modelling tradition of economics as one concerned with “thin men acting in small worlds” and writes: Strangely perhaps, the most obvious element in the inference gap for models … lies in the validity of any inference between two such different media – forward from the real world to the artificial world of the mathematical model and back again from the model experiment to the real material of the economic world. The model...