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Finance & Debt

Overdose: The Next Financial Crisis

From Journeyman Pictures: The financial storm of 2008 began brewing in when the US congress pushed the idea of home ownership for all. When it all went wrong, they opted for gargantuan bailouts for the big banks. This documentary offers fresh insight into the greatest economic crisis of our age: the one still awaiting us.

Worst drought in 140 years leads to farmer deaths, riots, policy impasse in Cauvery Delta

Keith Schneider reports: The thickening chain of death and sorrow in the Cauvery Delta, formed from the powerful links of water, agricultural, and industrial policy, is bludgeoning Tamil Nadu. The human toll, counted in the escalating numbers of shattered hearts, is a disturbing measure of how extravagant, water-consuming development practices no longer fit environmental conditions.

Commodity derivatives: Playground for speculators, graveyard for farmers?

In a major push to widen the scope of commodity derivatives market in India, the Securities and Exchange Board of India (SEBI) has recently allowed options trading on commodity exchanges. Kavaljit Singh argues that what’s good for financial investors and commodity speculators is not necessarily good for the already vulnerable Indian farmer and small entrepreneurs.

Watch: ‘Anti-economist’ Steve Keen on why economists can’t be trusted

Steve Keen, Professor of Economics at Kingston University London, is a long time critic of conventional economic thought, and is also developing an alternative dynamic approach to economic modelling. In this interview with Steven Sackur on BBC HardTalk, he tackles the prospect for a debt-deflation on the back of the enormous private debts accumulated globally.

Demonetisation is a permanent transfer of wealth from the poor to the rich

Shankar Gopalakrishnan writes: Demonetisation’s biggest impact will be on the distribution of resources within the economy, whatever happens to the economy as a whole. Demonetisation’s a giant vacuum, sucking up the resources of the weak and delivering them to the powerful, while acting like it’s doing the opposite. More importantly, this transfer will be permanent.

Heart of rural India has suffered a stroke: P. Sainath on the note ban

Acclaimed journalist P. Sainath reports from rural Maharashtra: The “Modi masterstroke”, a term contrived by assorted anchors and other clowns on television to hail an unbelievably stupid action, is spreading agony and misery in its wake across the countryside. If there’s been any stroke, it’s the one the heart of the rural economy has suffered.

Exposed: The global super court that rules the world

A parallel legal universe, open only to corporations and largely invisible to everyone else, helps executives convicted of crimes escape punishment. In this court, a nation that tries to prosecute a corrupt CEO or ban dangerous pollution can be sued for millions, even billions of dollars for ‘interfering with profits’. A investigative series from BuzzFeed.

Gail Tverberg: How Peak Oil was misunderstood

Instead of the scenario envisioned by many Peak Oilers, it’s likely that we will in the very near future hit a limit similar to the collapse scenarios that many early civilizations encountered when they hit resource limits. We don’t think about our situation as being similar, but we too are reaching decreasing resources per capita.

Oil price and economic growth get married

Kurt Cobb writes: It used to be that oil prices and economic growth were somewhat like distant cousins who disliked each other rather than a happily married couple always seen nuzzling together in public. Nowadays, as the oil price dips into the low $40 range again and global economic growth weakens simultaneously, we must re-evaluate.

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