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Tag Archives: financialization
Why Wages Have Lost Ground in the 21st Century
Why Wages Have Lost Ground in the 21st Century The problem with stagnant wages is our socio-economic system requires ever-higher incomes to function. One of the enduring mysteries for conventional economists is why wages aren’t rising for the bottom 95% even as unemployment is low and hiring remains robust. According to classical economics, the limited supply […]
Welcome to Neocolonialism, Exploited Peasants!
Welcome to Neocolonialism, Exploited Peasants! The U.S. peasantry has been stripmined exactly like the powerless colonial peasantry in the old colonial model. In my latest interview with Max Keiser, Max asked a question of fundamental importance: (I paraphrase, as the interview has not yet been posted): now that the current iteration of capitalism has occupied every […]
When Did Our Elites Become Self-Serving Parasites?
When Did Our Elites Become Self-Serving Parasites? Combine financialization, neoliberalism and moral bankruptcy, and you end up with self-serving parasitic elites. When did our financial and political elites become self-serving parasites? Some will answer that elites have always been self-serving parasites; as tempting as it may be to offer a blanket denunciation of elites, this overlooks […]
A Scam Too Far
A Scam Too Far One of the more politically frustrating aspects of the last decade in the West is the unwillingness of the powers-that-be to address the radical dysfunction that underlies Western political economy. As fact, microcosm and metaphor, the ‘scandal’ of Wells Fargo bank creating millions of fake accounts, charging its customers for the […]
Rotten to the Core
Rotten to the Core Poison Money BALTIMORE – We live in a world of sin and sorrow, infected by a fraudulent democracy, Facebook, and a corrupt money system. Wheezing, weak, and weary from the exertion of trying to appear “normal,” the economy staggers on. Staggering on…. Image credit: David Sidmond Last week, we gained […]
Do Any of the Current Rallies Pass “The Sniff Test”? No.
Do Any of the Current Rallies Pass “The Sniff Test”? No. But you can’t tame the monster of speculative, legalized looting and financialization. Everything from iron ore to copper to the Baltic Dry Index to stocks to bat guano is rallying. The problem is not a single rally passes “the sniff test:” is the rally the […]
You Can’t Separate Empire, the State, Financialization and Crony Capitalism: It’s One Indivisible System
You Can’t Separate Empire, the State, Financialization and Crony Capitalism: It’s One Indivisible System The great irony is what’s unsustainable melts into thin air no matter how many people want it to keep going. Disagreement is part of discourse, and pursuing differing views of the best way forward is the heart of democracy. Disagreement is abundant, […]
Stop Financializing the Human Experience
Stop Financializing the Human Experience In this financialized hall of mirrors, narcissism replaces identity and the authentic self is rendered incoherent. Correspondent Dani A.M. (of Removing the Shackles) was kind enough to identify three bits of advice from my recent conversation with Max Keiser onSummer Solutions (25:45): (9:20 min: “We’ve been brainwashed into financializing the human experience.”) 1. […]
Collapse, Part 1: Greece
Collapse, Part 1: Greece When systems are broke and broken, collapse is the only way forward. The theme this week is collapse. It’s a big, complex topic because there are as many types of collapse as there are systems. Some systems appear stable on the surface but collapse suddenly; others visibly decay for decades before finally […]
The One Chart You Need to Predict the Future
The One Chart You Need to Predict the Future We are witnessing a profound secular sea-change: the failure of expanding debt and leverage to lift the real economy of wages and household income. When push comes to shove, you only need one chart to predict the future: debt and wages ( credit and compensation). This […]
The Global Problem: Monetary Policy Can’t Fix an Economy’s Structural Problems
The Global Problem: Monetary Policy Can’t Fix an Economy’s Structural Problems When we look back from 2025, it will be painfully obvious that central bank policies exacerbated the systemic crises that brought down the global financialization machine. What with all the praise being heaped on central banks for “saving” the world from economic doomsday in […]
China and the Dragon Tail of Marx
China and the Dragon Tail of Marx The dragon tail of Marx’s end-game of overcapacity and finance capital is about to shred China’s fantasy that the state can micro-manage both capitalism and financialization with no contradictions or consequences. Longtime readers know my one expertise is annoying the entire ideological spectrum in 1,000 words or less. Today […]
Greece and the Endgame of the Neocolonial Model of Exploitation
Greece and the Endgame of the Neocolonial Model of Exploitation With the bankruptcy of Greece now undeniable, we’ve finally reached the endgame of the Neocolonial-Financialization Model. We all know how old-fashioned colonialism worked: the imperial power takes physical control of previously independent lands and declares its ownership of the region as a newly minted colony. […]
Oil And Debt: The BIS Examines The Consequences Of Financialization
Oil And Debt: The BIS Examines The Consequences Of Financialization Since mid-2014, after remaining relatively stable for four years at close to $100, the price of crude oil has dropped by roughly 50% in US dollar terms. 1 Changes in production and consumption seem to fall short of a fully satisfactory explanation of the abrupt collapse […]
What does $200 trillion of debt really mean for the global economy?’
What does $200 trillion of debt really mean for the global economy? A few years ago, in the depths of the recession caused by the financial crisis, I began an investigation into the consequences of several economic trends that I thought were bound to put a permanent end to the boom times that my generation, […]
