Michael Hudson: There are many degrees of how “mixed” an economy will be — meaning in practice, how active its government sector will be in regulating markets, prices and credit, and investing in public infrastructure. In the 20thcentury’s Progressive Era a century ago, a “mixed economy” meant keeping natural monopolies in the public sector: transportation, […]
The Delphic Oracle Was Their Davos: A Four-Part Interview with Michael Hudson About His Forthcoming Book The Collapse of Antiquity (Part 1)…
What Do Wyoming’s 13 New Blockchain Laws Mean?…
Wyoming has now enacted a total of 13 blockchain-enabling laws, making it the only US state to provide a comprehensive, welcoming legal framework that enables blockchain technology to flourish, both for individuals and companies. These laws enable innovation and creativity, and are meant to bring capital, jobs and revenue into Wyoming. Law and technology are […]
Goldman Sachs Investment Banker Arrested on Insider Trading Charges…
A 37-year-old investment banker for Goldman Sachs was arrested Thursday on charges he used inside information on mergers for which the company was a financial adviser to garner more than $130,000 on stock trades. Woojae “Steve” Jung, 37, of San Francisco, was charged with six counts of securities fraud and one count of conspiracy, according […]
SEC Charges Elizabeth Holmes with ‘Massive Fraud’…
Fifth Third Bank to Acquire Chicago-Based MB Financial in $4.7B Deal…
Chicago-based MB Financial Inc. announced on Monday it would merge with Fifth Third Bancorp in a deal valued at $4.7 billion. The transaction will result in one of the region’s largest middle-market banks. MB Financial’s chief executive officer Mitch Feiger will serve as CEO for the Chicago area after the acquisition and two members of […]
Mick Mulvaney Tells Employees CFPB Will No Longer ‘Push the Envelope’…
Acting Consumer Financial Protection Bureau Director Mick Mulvaney told the agency’s employees Tuesday that the agency no longer will “push the envelope” in policing private companies, suggesting in an agency-wide memo that he plans to reverse course from the one set out by departed director and Obama appointee Richard Cordray. “Simply put, the days of […]
Putin Orders to End Trade in U.S. Dollars at Russian Seaports…
Russian President Vladimir Putin has instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year, according to the Kremlin website. To protect the interests of stevedoring companies with foreign currency obligations, the government was instructed…
Lies, Lies & OMG More Lies…
Every month the government apparatchiks at the Bureau of Lies and Scams (BLS) dutifully announces inflation is still running below 2%. Janet Yellen then gives a speech where she notes her concern inflation is too low and she needs to keep interest rates near zero to save humanity from the scourge of too low inflation.
RESEARCH: Basically Every Problem in the U.S. Economy Is Because Companies Have Too Much Power…
Competition is good. This might be the most basic tenet of economics. In a healthy economy, when one company is selling a product for well above what it costs to produce, other companies jump in that market to compete with them, reducing the resulting markup on goods. This is good for consumers and workers alike…