A market valuation problem is not a fraud problem this time around.
Michale Hudson explains the big difference between this crisis and 2008.
Michael Hudson — On Finance, Real Estate And The Powers Of Neoliberalism
The Mechanics of a Bond Market and its Impact on the Banking CrisisMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University
See also
Michael Hudson: Why the US banking system is breaking up
Hudson: “ It cannot escape from its 13 years of Quantitative Easing without reversing the asset-price inflation and causing bonds, stocks and real estate to lower their market value.”
ReplyDeleteAll the Fed has to do is let the Treasury redeem the securities they (Fed) possess…