Category Archives: Economic fundamentals

Wolf Richter: “Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Banks

Australia looks to be on the verge of a nasty unwind of its housing bubble. A plunge would damage not only its banks but also retirement funds, since banks play an outsized role in the Australian stock market.

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Michael Hudson: “Moral Hazard” vs Mutual Aid – How the Bronze Age Saved Itself from Debt Serfdom

Bronze Age societies forgave agricultural debt to keep cultivators working on their land, able to pay taxes and work in the military and on public projects. Lenders were seen as greedy and exploitative.

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