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Michael Hudson: how finance capitalism leads to debt servitude

In Blog by Ian Fraser5 Comments

October 19th, 2012 This is an edited transcript of a phone interview with Michael Hudson by Dimitris Yannopoulos for Athens News. It summarizes some of the major themes of Hudson’s new book, The Bubble and Beyond: Fictitious Capital, Debt Deflation and Global Crisis, published in the UK in July 2012.  Q: How has …

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The Euro Fiscal Corruption Contest – the Spanish entry

In Blog by Ian Fraser4 Comments

June 14th, 2012 Ian Fraser’s introduction: This blog was written by Golem XIV, a pseudonym for filmmaker and author David Malone.   Let me make it clear straight away: the lies, corruption, cowardice and greed of Spanish bankers and government officials is nothing special. What is happening in Spain now, reminds me of …

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Banks in Hungary and Slovenia looking precarious

In Blog by Ian Fraser0 Comments

June 13th, 2012 The IMF has produced a blog on the situation facing banks in Central and Eastern Europe. The majority of banks in the region are owned by Western European banks, and have therefore suffered as a result of the weaknesses of their parent institutions, which has caused the …

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Gauging China’s economic future: fair to middling

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: QFINANCE Date: 5 March 2012 China is so vast, its leaders so inscrutable, it’s future so tied to imponderables — including who will succeed premier Wen Jiabao, whether the country can realistically remain a one-party-state and the true depth of state-sponsored graft — that its mid-term economic prospects …

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IMF hoists red flags over China’s financial system

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: QFINANCE Date: 17 November 2011 In its first ever formal assessment of the stability of China’s financial system, the International Monetary Fund has blamed heavy-handed state intervention for creating what it calls “vulnerabilities” in the system, at the same time as providing Beijing with a detailed blueprint for …

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Why the IMF needs a non-European head

In Blog by Ian Fraser0 Comments

1 June 2011 In wake of the resignation of “le séducteur extraordinaire” Dominique Strass-Kahn, we are in desperate need for some fresh thinking on Europe’s sovereign debt crisis. Yet the EU is determined to impose the French finance minister and former corporate lawyer Christine Lagarde as the IMF’s next boss …

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Après Dominique Strauss-Kahn, le déluge?

In Blog by Ian Fraser0 Comments

22 May 2011 Even several days after the story first broke, the Dominique Strauss-Kahn affair beggars belief. One of the most powerful men in the world, on whose input it is argued the very future of eurozone depends — and someone who could easily have become the next president of France …

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Irish bailout seems to unravel before it’s even announced

In Blog by Ian Fraser0 Comments

27 November 2010 You know that things must be getting desperate in Ireland when the Irish want to draft in Ryanair chief executive, Michael O’Leary to help run the country. According to a Reuters report, the no-nonsense Cork-born airline chief executive, whose opinion of the country’s politicians is regularly expressed …

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The terrifying reality of living in a post-bubble world

In Blog by Ian Fraser1 Comment

27 October 2010 This round-table event organized by the AEI (American Enterprise Institute for Public Policy Research) is long but worth watching if you have any interest in the future of banking and economics. I’ve just watched the video and found parts of it frankly terrifying. If you believe these speakers, …