Written By: - Date published: 10:02 pm, April 7th, 2023 - 16 comments
In his …and forgive them their debts, my favourite economist and Jubilee advocate Michael Hudson states that Jesus driving the money-changers from the Temple was “the act that inspired the city leaders to plot his death.”
Written By: - Date published: 6:57 am, January 17th, 2023 - 34 comments
The truth is, the throwing caution to the wind approach of slashing taxes, removing restrictions on banker bonuses, and slashing other regulations such as IR35 were all consistent with what he and Truss had argued in Britannia Unchained a decade earlier. And these ideas found favour with the Conservative Party membership – with the idealised view of Thatcher’s vision of small government, deregulation and low taxation. For the general public, this was not so much ‘Britannia Unchained’ as ‘Libertarians Unhinged.
Written By: - Date published: 3:32 pm, November 3rd, 2022 - 39 comments
82-year old polymath Michael Hudson is my favourite economist. He currently lectures in China to million-strong audiences. His latest book is The Destiny of Civilisation: Finance Capitalism, Industrial Capitalism or Socialism. His latest article is well worth a read.
Written By: - Date published: 10:46 am, May 19th, 2022 - 13 comments
It is clear that we will continue to face these economic challenges with tools that are ill-equipped to face the problems. Only a truly international response can create an economy that delivers for all.
Written By: - Date published: 11:18 am, December 12th, 2021 - 23 comments
New Zealand is seeing a strong, business-led recovery. But what will we do with this success?
Written By: - Date published: 7:26 pm, January 29th, 2021 - 22 comments
The world has been watching, mostly with amusement, as some redditors have brought a Wall Street merchant bank to its knees, by buying stocks in a company, GameStop who has seen better days and whose business model is antiquated.
Written By: - Date published: 8:41 am, September 2nd, 2020 - 16 comments
Along with the grey weather, the weather around our local net is downright annoying at present. There are a massive increase in attempts to break into this site via backend systems and brute force front-end logins, a surge in scans from the search engine spider bots, and a lot of requests for putting up paid content. All of which have been ignored or dealt with. Good thing that we aren’t a target like the NZX, banks, mainstream media and the MetService are.
Written By: - Date published: 4:51 pm, June 12th, 2020 - 31 comments
…is the US sharemarket roaring away – up 44% – while economic recovery prospects are grim?” ANZ’s Sharon Zollner’s answer on Tuesday was the Fed printing money, but worried markets were turning a blind eye to the bad news. The bad news hit today as the sharemarket nose-dived. Wolf Richter’s answer was more to Kim’s point: “Fed bails out the wealthy while America convulses in pain.”
Written By: - Date published: 6:32 am, April 15th, 2020 - 112 comments
After the lockdown, it is tempting to try and go back to what we had before. To the familiar and comfortable, especially for us that were comfortable. Forgetting that for so many, things were anything but, comfortable. That won’t be happening. “Before” no longer exists.
Written By: - Date published: 10:57 am, November 17th, 2019 - 30 comments
Nick Kelly on UK austerity and who should have paid for the financial crisis.
Written By: - Date published: 3:58 am, November 16th, 2019 - 2 comments
Nick Kelly on why the 2008 Global Financial Crisis is still having a dramatic effect on United Kingdom Politics.
Written By: - Date published: 2:09 am, September 19th, 2019 - 21 comments
France President Macron’s remarkable and wide-ranging speech to French ambassadors after France hosted the recent G7 conference in Biarritz is well worth a read. He lays it all out – so much better than Trump’s tweets or BoJo’s bluster.
Written By: - Date published: 7:05 am, July 3rd, 2019 - 105 comments
ANZ is complaining that the Reserve Bank wants it to hold additional capital in case of a run on the banks.
Written By: - Date published: 8:16 am, June 25th, 2019 - 76 comments
Grant Robertson gets occasional criticism from the left but it is hard to fault him for his timing or his delivery in seeking to strengthen banking sector oversight.
Written By: - Date published: 9:18 am, June 23rd, 2019 - 75 comments
Stuff has published details of a sweetheart deal where David Hisco bought the ANZ owned property they were living in for a greatly reduced price. But was this good investigative work or a leak from within ANZ?
Written By: - Date published: 9:38 am, June 19th, 2019 - 15 comments
The corporation that has become renowned as the purveyor of fake news and the underminer of elections is planning to roll out a crypto currency service.
Written By: - Date published: 8:45 am, June 3rd, 2019 - 49 comments
With the United States – China trade war well underway, the sick chaos of Brexit is shrinking the U.K. economy and slowing much of Europe’s economy, and smaller economies such as that of Mexico in the crosshairs through further politically manufactured trade disputes, the second half of this year looks for New Zealand nowhere near as rosy as the first half.
Written By: - Date published: 5:05 pm, February 3rd, 2019 - 56 comments
Polymath economist Professor Michael Hudson’s latest article is a geopolitical panoramic masterpiece, sparked by outrage at a series of concurrent events on January 31 which he predicts means that 2019 will be the “year of global fracture.” Definitely worth a read.
Written By: - Date published: 11:19 am, September 11th, 2018 - 32 comments
Ten years ago this week massive financial businesses in the United States started collapsing. How has the world recovered from this?
Written By: - Date published: 8:00 am, May 2nd, 2018 - 17 comments
The review into Australia’s banking system really matters to New Zealand and is doing New Zealand an almighty good service.
Written By: - Date published: 9:00 am, March 8th, 2018 - 128 comments
Amy Adams won’t commit to $11.7b, but she too has now become the third person to fall down the imaginary fiscal hole. How can National claim to have any soundness on finance if they won’t admit their criticisms on the economy are unreasonable and unfounded? And besides, aren’t National actually worse fiscal managers if ordinary people tend to get paid less under their regimes? We dive into some theory to thoroughly dispute even Steven Joyce’s/Amy Adam’s secondary criticism of “fiscal tightness,” although concede that two of the Budget Responsibility rules are probably stupid in order to do it.
Written By: - Date published: 1:20 pm, March 7th, 2018 - 32 comments
Don’t hold your breath for recommendations of radical tax reform from the Tax Working Group. Chair Sir Michael Cullen says the 2020 election will be a referendum on tax and he is already kicking for touch
Written By: - Date published: 10:08 pm, February 20th, 2018 - 11 comments
The Lord Mayor of the City of London is visiting New Zealand. Its not Sadiq Khan, Charles Bowman is a PwC partner leading London’s financial centre lobby. He’s here to talk to business and regulators. He’ll no doubt be talking up more deregulation.
Written By: - Date published: 4:34 pm, February 14th, 2018 - 123 comments
Fletcher announces more huge losses but directors still laughing all the way to the bank
Written By: - Date published: 6:10 pm, February 9th, 2018 - 109 comments
New Zealanders 17 years ago accepted the idea of a national dairy monopoly on the condition it would deliver outstanding returns. The cost has been high — filthy and unswimmable rivers. Now it turns out the result has been a financial fiasco – the whole thing is literally bullshit, or more correctly, cowshit.