Dexia and bailing out the banks | by Michael Roberts

Dexia and bailing out the banks | by Michael Roberts

The large Belgian Bank, Dexia, went bust over last weekend.  It provides a lot of pointers about the role of banking and how it fits into this crisis.  Dexia was bailed out before at the height of the financial crisis in 2008.  Then the Belgian and French governments...

Greek Tragedy | by Nick Dearden

Everyday the same news – Greece lurches nearer to a default, the financial markets panic, and governments come up with a few more euros or some soothing words to calm them for a few hours. The meltdown has been put off for another day.Almost every commentator accepts...

U.S. Jobs, GDP, and the Eurozone | by Jack Rasmus

Friday, June 1, is a date that marks a shift in the public consciousness of the state of the US and global economy.  What was touted for months over the past winter as a rebound taking hold in the US economy and that the US economy was ‘exceptional’ and would not...