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Fiscal cliff looms large for all of us

In Article Library by Ian Fraser1 Comment

By Ian Fraser Published: Sunday Herald Date: November 11th, 2012 Stability of leadership has been confirmed in the US and China – now they need stability in their economies, or the world will suffer. By Ian Fraser Today’s global economy is like a drunk meandering his way across a busy …

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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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Draghi’s New Clothes

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August 12th, 2012 Has Mario Draghi, the president of the European Central Bank, over-reached himself? Are sycophantic lieutenants and desperate national leaders telling him everything he wants to hear? Last week he indicated that the Frankfurt-based institution was poised to embark on new round of sovereign bond buying. In particular Draghi …

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Kyle Bass: All the asymmetry in the world lies in Japan

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14 November 2011 Kyle Bass is talking sense in this HardTalk interview with the BBC’s Sarah Montague (whose apparent inability to understand much of what Bass is saying only partially marred the session). The 24-minute interview was first aired on the BBC on Saturday November 19th, 2011. Bass, founder of Dallas-based Hayman …

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Cannes summit failure leaves euro on borrowed time

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By Ian Fraser Published: Sunday Herald Date: 6 November 2011 Nicolas Sarkozy had intended to use his time as head of the G20 to achieve lofty goals like rethinking the global financial system and tackling commodity price volatility. But the French president has ended up doing little other than fire-fighting and …

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Explaining the Tea Party and the US debt ceiling farce

In Blog by Ian Fraser0 Comments

1 August 2011 If you’ve been wondering what’s been going on in America in the past few days, you could do worse than watch this irreverent, satirical take from Taiwan-based Next Media Animation. The tea partiers are portrayed as gun-toting babies, and a “highlight” come when one of these mewling …

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Why the IMF needs a non-European head

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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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Review of 2010: Making the eurozone ‘crisis-proof’?

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5 January 2011 Whereas 2008-09 was a period when the developed world leaders were scrabbling around for politically acceptable measures about mopping up the mess left behind by years of weak regulation, poor management and reckless lending by banks and financial institutions, 2010 was a year in which the consequence …