Post-Collapse Investment Crisis Causes Austerity, Not Debt
From the headlines in Europe and the United States, one could be forgiven for believing that the global economy is sputtering through a debt crisis. The European Central Bank has only recently taken...
View ArticleThe $700 Trillion Joke: Shadow Banking and the Austerity Crisis
One number: $67 trillion in the shadow banking system Many financial and political commentators over the past couple months have begun to overlap on some common post-2008 crisis narratives. Although...
View ArticleThe $700 Trillion Joke Part II: Austerity as Political Repression
Shadow banking and austerity In our last blog, we detailed the enormous flows of cash circulating through the shadow banking system, and how that knowledge should change our understanding of austerity...
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