Below you'll find a list of all posts that have been tagged as “Financial crisis of 2007–2008”
In line with the steady rise in social unrest over the past decade, it’s likely that we will witness an unprecedented escalation in large-scale citizen protests across the globe in 2016 and beyond. Research by Dr. David Bailey provides empirical evidence for what many activists and campaigners have long suspected: that we have entered a prolonged period of dissent characterised …
Prior to the 2008 financial crisis, the Federal Reserve had an important role – to solely act as a “lender of last resort” to traditional commercial banks. But during the crisis, the financial support was extended to many non-banking firms like money market mutual funds, the commercial paper market, mortgage-backed securities market and the tri-party repo market. Besides the extensive …
Much has been written and broadcast over the past few weeks in the financial media and the business pages of general-interest newspapers debating the wisdom of the decision in December by Fed Chair Janet Yellen and the Federal Reserve Board to raise interest rates for the first time in almost a decade. On one side of this debate are people …
A lot of people were expecting some really big things to happen in 2015, and most of them did not happen. But what did happen? It is my contention that a global financial crisis began during the second half of 2015, and it threatens to greatly accelerate as we enter 2016. During the last six months of the year that …
The following text is the forward to Ernst Wolff‘s book entitled : Pillaging the World. The History and Politics of the IMF, Tectum Verlag Marburg, www.tectum-verlag.de. The book is available in English and German. No other financial organization has affected the lives of the majority of the world’s population more profoundly over the past fifty years than the International Monetary …
Economic forecasting is a mug’s game. One thing that has been learned from the financial crisis and Great Recession is that even those equipped with the most sophisticated models get it wrong, sometimes spectacularly. So it is with both humility and trepidation that I will try to fulfil a promise made last week and make predictions for what is going …
The following is an excerpt from the introduction to Shadow Sovereigns: How Global Corporations are Seizing Power: We’re surrounded. Everywhere you look you find masses, droves, gangs of unelected, unaccountable, profit-oriented individuals, corporations and new institutions surfacing everywhere, making official policy in areas ranging from public health to food and agriculture; from taxes to finance and trade. Some are lobbyists …
The elevation the Chinese renminbi (also known as the yuan) to the basket of global currencies making up the International Monetary Fund’s special drawing rights (SDRs), in effect making it an international reserve currency, is unlikely to have any major immediate effects. But it does underscore the vast transformation in the foundations of the world economy over the past three …
Wall Street is again leading to the corridors of central banks. From Minneapolis to Paris, investors and financiers are increasingly being hired to help set monetary policy less than a decade since the banking crisis roiled the world economy and chilled their public-sector employment prospects. Academic studies of historical voting records at central banks suggest the new trend may mean …
What have governments learnt from the financial crisis? I could write a column spelling it out. Or I could do the same job with one word. Nothing. Actually, that’s too generous. The lessons learned are counter-lessons, anti-knowledge, new policies that could scarcely be better designed to ensure the crisis recurs, this time with added momentum and fewer remedies. And the …
