KrushV
@krushv.bsky.social
Reposted by KrushV
I’m sorry that economists don’t read or cite other disciplines & feel like they can “discover” new topics without reading the existing literature - something they would never tolerate in the other direction. But there are huge piles of books & articles about “geoeconomics” in IPE since the 1970s.
May 10, 2025 at 4:51 AM
I’m sorry that economists don’t read or cite other disciplines & feel like they can “discover” new topics without reading the existing literature - something they would never tolerate in the other direction. But there are huge piles of books & articles about “geoeconomics” in IPE since the 1970s.
Reposted by KrushV
How Europe should respond to the erosion of the dollar’s status—The international order is shifting and Europe must act to strengthen its financial architecture. Doing so… www.ft.com/content/5bc0... @helene-rey.bsky.social @financialtimes.com
How Europe should respond to the erosion of the dollar’s status
Greater internationalisation of the euro requires a more resilient financial system for the region
www.ft.com
May 10, 2025 at 4:54 PM
How Europe should respond to the erosion of the dollar’s status—The international order is shifting and Europe must act to strengthen its financial architecture. Doing so… www.ft.com/content/5bc0... @helene-rey.bsky.social @financialtimes.com
Reposted by KrushV
“To live in peace, Israel will have to finally come to terms with the Palestinians, and that is something Prime Minister Benjamin Netanyahu has opposed throughout his career,” writes Aluf Benn.
Israel’s Self-Destruction
Netanyahu, the Palestinians, and the price of neglect.
www.foreignaffairs.com
May 10, 2025 at 5:30 PM
“To live in peace, Israel will have to finally come to terms with the Palestinians, and that is something Prime Minister Benjamin Netanyahu has opposed throughout his career,” writes Aluf Benn.
Reposted by KrushV
😀
Some light reading for the weekend on Treasury market liquidity and the overnight reverse repo
on.ft.com/3RWF8Kr
on.ft.com/3RWF8Kr
It was remarkably resilient repo wot won it
[FREE TO READ] Why April 2025 was no March 2020
on.ft.com
May 9, 2025 at 4:44 PM
😀
Reposted by KrushV
Passionnant Ulysse Lojkine, présentant son livre "Le fil invisible du capital
Déchiffrer les mécanismes de l'exploitation", paru ce mois-ci. A écouter et lire ! www.radiofrance.fr/francecultur...
Déchiffrer les mécanismes de l'exploitation", paru ce mois-ci. A écouter et lire ! www.radiofrance.fr/francecultur...
Configurations du capitalisme contemporain
Dans un essai brillant, l'économiste et philosophe Ulysse Lojkine propose de dépasser la théorie marxiste sur le travail et le capital pour mieux saisir les configurations inédites que met en œuvre le...
www.radiofrance.fr
April 27, 2025 at 11:48 AM
Passionnant Ulysse Lojkine, présentant son livre "Le fil invisible du capital
Déchiffrer les mécanismes de l'exploitation", paru ce mois-ci. A écouter et lire ! www.radiofrance.fr/francecultur...
Déchiffrer les mécanismes de l'exploitation", paru ce mois-ci. A écouter et lire ! www.radiofrance.fr/francecultur...
Reposted by KrushV
Fabulous new Greg Grandin book
May 3, 2025 at 7:50 AM
Fabulous new Greg Grandin book
Reposted by KrushV
Very good Ed Conway piece on why we should revive some form of Keynes' Bretton Woods proposal for global trade.
www.wsj.com/economy/glob...
www.wsj.com/economy/glob...
Essay | Trump Is Right About Trade Imbalances. Does He Know How to Fix Them?
The great economist John Maynard Keynes once proposed an international system to eliminate trade surpluses and deficits. Now the ‘Mar-a-Lago Accord’ aims to bring that idea to life.
www.wsj.com
May 2, 2025 at 3:58 PM
Very good Ed Conway piece on why we should revive some form of Keynes' Bretton Woods proposal for global trade.
www.wsj.com/economy/glob...
www.wsj.com/economy/glob...
Reposted by KrushV
I find myself revisiting/reading books on the theory of money.
Ingham’s “nature of money” (ranks high for me despite embrace of chartalism)
Hick’s “market theory of money”
Desan’s “making money”
Keynes’ “Treatise”
Neilson’s “Minsky”
Schumpeter’s “History”
Hawtrey’s “Currency & credit”
1/2
Ingham’s “nature of money” (ranks high for me despite embrace of chartalism)
Hick’s “market theory of money”
Desan’s “making money”
Keynes’ “Treatise”
Neilson’s “Minsky”
Schumpeter’s “History”
Hawtrey’s “Currency & credit”
1/2
February 16, 2025 at 1:38 PM
I find myself revisiting/reading books on the theory of money.
Ingham’s “nature of money” (ranks high for me despite embrace of chartalism)
Hick’s “market theory of money”
Desan’s “making money”
Keynes’ “Treatise”
Neilson’s “Minsky”
Schumpeter’s “History”
Hawtrey’s “Currency & credit”
1/2
Ingham’s “nature of money” (ranks high for me despite embrace of chartalism)
Hick’s “market theory of money”
Desan’s “making money”
Keynes’ “Treatise”
Neilson’s “Minsky”
Schumpeter’s “History”
Hawtrey’s “Currency & credit”
1/2
Reposted by KrushV
My first ever op-ed. "Decoupling" was a casually used buzzword to describe a hard break in US-China economic relations. It made it sound as if it was like decoupling two railcars: clean and simple. It turns out it is more like tearing out organs from a living body.
Could the US and Chinese economies really 'decouple'? | Isabella Weber
The buzzword makes it sound as if disentangling the world’s two largest economies were simple, says academic Isabella Weber
www.theguardian.com
April 23, 2025 at 1:43 PM
My first ever op-ed. "Decoupling" was a casually used buzzword to describe a hard break in US-China economic relations. It made it sound as if it was like decoupling two railcars: clean and simple. It turns out it is more like tearing out organs from a living body.
Reposted by KrushV
So, there is that little Youtube Channel - Notes on the Crisis - by Nathan Tankus, with all of 581 subscribers.
It has exactly two videos. Both featuring Paul Krugman as the interview partner and I highly recommend it.
www.youtube.com/@Crisesnotes
It has exactly two videos. Both featuring Paul Krugman as the interview partner and I highly recommend it.
www.youtube.com/@Crisesnotes
Notes on the Crises
This is the Youtube Channel for the Newsletter Notes on the Crises (https://www.crisesnotes.com/#/portal/signup) by Nathan Tankus. This is for interviews with other outlets I have permission to publis...
www.youtube.com
April 20, 2025 at 6:28 AM
So, there is that little Youtube Channel - Notes on the Crisis - by Nathan Tankus, with all of 581 subscribers.
It has exactly two videos. Both featuring Paul Krugman as the interview partner and I highly recommend it.
www.youtube.com/@Crisesnotes
It has exactly two videos. Both featuring Paul Krugman as the interview partner and I highly recommend it.
www.youtube.com/@Crisesnotes
Reposted by KrushV
My take on Trump's shock plan for the global economy. In discussion with David Marr on ABC Radio National's Late Night Live www.abc.net.au/listen/progr...
Yanis Varoufakis on Trump's shock plan for the global economy - ABC listen
Economist Yanis Varoufakis says we shouldn't underestimate Trump - he has a plan to shock the global economy, force foreign countries to buy crypto-currency in return for a deal on tariffs, and ultima...
www.abc.net.au
April 15, 2025 at 12:48 PM
My take on Trump's shock plan for the global economy. In discussion with David Marr on ABC Radio National's Late Night Live www.abc.net.au/listen/progr...
Reposted by KrushV
Embedded in @stephaniekelton.bsky.social‘s dissection of nonsensical budget proposals and chaotic tariff policies is Larry Summers’s trenchant explanation of how trade with China really works and benefits the U.S. You’ll be smarter for reading/listening to both.
open.substack.com/pub/stephani...
open.substack.com/pub/stephani...
Talking Tariffs, Turmoil, and Tax Cuts
On Wednesday night, I joined Chris Hayes for a conversation about—what else?—tariffs and their impact on financial markets and the broader economy.
open.substack.com
April 13, 2025 at 12:37 PM
Embedded in @stephaniekelton.bsky.social‘s dissection of nonsensical budget proposals and chaotic tariff policies is Larry Summers’s trenchant explanation of how trade with China really works and benefits the U.S. You’ll be smarter for reading/listening to both.
open.substack.com/pub/stephani...
open.substack.com/pub/stephani...
Reposted by KrushV
It's finally out! Drink coffee, drink soda, take whatever stimulate you prefer. This is extremely long, even by my verbose standards. But its the absolute minimum word count I thought I could tell the "foreign exchange liquidity crisis" aspect of this with.
www.crisesnotes.com/is-the-trump...
www.crisesnotes.com/is-the-trump...
Is the Trump Tariff Financial Crisis A Crisis of the Dollar? It Doesn’t Seem to Be … Yet
SubscribeTip!
For those just tuning in: I wrote a piece a day for the first three days of this week on what we should probably now term the “Trump Tariff Financial Crisis”. I am coming to you Sunday ...
www.crisesnotes.com
April 13, 2025 at 12:33 PM
It's finally out! Drink coffee, drink soda, take whatever stimulate you prefer. This is extremely long, even by my verbose standards. But its the absolute minimum word count I thought I could tell the "foreign exchange liquidity crisis" aspect of this with.
www.crisesnotes.com/is-the-trump...
www.crisesnotes.com/is-the-trump...
Reposted by KrushV
Pettis: "The most effective way is likely to be by imposing controls on the US capital account that limit the ability of surplus countries to balance surpluses by acquiring US asset..if done correctly capital controls would in fact have little effect on direct investment."
www.ft.com/content/a3fb...
www.ft.com/content/a3fb...
The US would be better off without the global dollar
Trump’s tariffs were erratic and flawed but imbalances in the world economy are real
www.ft.com
April 11, 2025 at 8:45 AM
Pettis: "The most effective way is likely to be by imposing controls on the US capital account that limit the ability of surplus countries to balance surpluses by acquiring US asset..if done correctly capital controls would in fact have little effect on direct investment."
www.ft.com/content/a3fb...
www.ft.com/content/a3fb...
Reposted by KrushV
Reposted by KrushV
wow, hadnt seen recent figures.
So hedge funds have USD 2 trillion repo funding instantly hit by volatility in price of US Treasuries.
US Treasury collateral is marked to market daily (intra-day sometimes). Lower prices -> margin calls on hedge funds, who need more collateral/more cash.
So hedge funds have USD 2 trillion repo funding instantly hit by volatility in price of US Treasuries.
US Treasury collateral is marked to market daily (intra-day sometimes). Lower prices -> margin calls on hedge funds, who need more collateral/more cash.
Government bonds are the foundations of how major hedge funds work and how credit is supplied to the modern economy. Treasury volatility can be deeply damaging. Central banks must supervise this complex better.
Shadow Banks Are Too Big to Stay in the Shadows
www.bloomberg.com/opinion/feat...
Shadow Banks Are Too Big to Stay in the Shadows
www.bloomberg.com/opinion/feat...
April 9, 2025 at 7:55 AM
wow, hadnt seen recent figures.
So hedge funds have USD 2 trillion repo funding instantly hit by volatility in price of US Treasuries.
US Treasury collateral is marked to market daily (intra-day sometimes). Lower prices -> margin calls on hedge funds, who need more collateral/more cash.
So hedge funds have USD 2 trillion repo funding instantly hit by volatility in price of US Treasuries.
US Treasury collateral is marked to market daily (intra-day sometimes). Lower prices -> margin calls on hedge funds, who need more collateral/more cash.
Reposted by KrushV
"In case of an exogenous shock, the highly leveraged long positions in cash Treasury securities by hedge funds are at risk of being rapidly unwound. Such an unwind….. could lead to a significant disruption in market functions of broker-dealer firms.."
www.ft.com/content/1df2...
www.ft.com/content/1df2...
The Treasury basis trade rears its head again
Bills and bonds and Treasury basis trades, oh my!
www.ft.com
April 8, 2025 at 6:11 PM
"In case of an exogenous shock, the highly leveraged long positions in cash Treasury securities by hedge funds are at risk of being rapidly unwound. Such an unwind….. could lead to a significant disruption in market functions of broker-dealer firms.."
www.ft.com/content/1df2...
www.ft.com/content/1df2...
Reposted by KrushV
With US treasuries sell off, reupping this.
Euro is too small to replace or even rival the dollar as global reserve currency, but the EU/ECB can do a lot to grow the international role of the euro and stabilise global financial system (which draws on @jvtk.bsky.social et al's work)
Euro is too small to replace or even rival the dollar as global reserve currency, but the EU/ECB can do a lot to grow the international role of the euro and stabilise global financial system (which draws on @jvtk.bsky.social et al's work)
What would it take for euro to dethrone king US dollar?
As Trump ramps up his trade war, two economists outline how Europe could finally turn the euro into a global currency.
euobserver.com
April 9, 2025 at 9:03 AM
With US treasuries sell off, reupping this.
Euro is too small to replace or even rival the dollar as global reserve currency, but the EU/ECB can do a lot to grow the international role of the euro and stabilise global financial system (which draws on @jvtk.bsky.social et al's work)
Euro is too small to replace or even rival the dollar as global reserve currency, but the EU/ECB can do a lot to grow the international role of the euro and stabilise global financial system (which draws on @jvtk.bsky.social et al's work)
Reposted by KrushV
Dollar swap lines is not exactly a super-sexy topic most of the time, but it is a hugely important one. And it can potentially become cataclysmically important, so we should probably start thinking through some of the consequences of the recent American regime change. 👇 www.ft.com/content/6761...
Avoiding Kindleberger’s Trap
Why doubts over the Fed’s dollar swap lines are such a big deal
www.ft.com
April 8, 2025 at 1:27 PM
Dollar swap lines is not exactly a super-sexy topic most of the time, but it is a hugely important one. And it can potentially become cataclysmically important, so we should probably start thinking through some of the consequences of the recent American regime change. 👇 www.ft.com/content/6761...
Reposted by KrushV
Reposted by KrushV
Three good Marxist reads about the Trump tariff shock. First chronologically (he adds modestly), my piece written before the announcement, which stands up pretty well ... 1/ socialistworker.co.uk/comment/alex...
Alex Callinicos: Trump uses tariffs to keep his friends close
Stock markets soared—especially in the United States—when Donald Trump was re-elected in November. But they were in free fall ahead of what he calls “liberation day” on Wednesday. That’s when he promi...
socialistworker.co.uk
April 8, 2025 at 9:54 AM
Three good Marxist reads about the Trump tariff shock. First chronologically (he adds modestly), my piece written before the announcement, which stands up pretty well ... 1/ socialistworker.co.uk/comment/alex...
Reposted by KrushV
"The Fed’s five current standing swap lines ... are not as long-standing as many believe; they are reconstituted annually."
Aditi Sahasrabuddhe on the politically imperiled thread by which everything is hanging in the next financial crisis.
www.ft.com/content/4ed9...
Aditi Sahasrabuddhe on the politically imperiled thread by which everything is hanging in the next financial crisis.
www.ft.com/content/4ed9...
April 8, 2025 at 6:59 AM
"The Fed’s five current standing swap lines ... are not as long-standing as many believe; they are reconstituted annually."
Aditi Sahasrabuddhe on the politically imperiled thread by which everything is hanging in the next financial crisis.
www.ft.com/content/4ed9...
Aditi Sahasrabuddhe on the politically imperiled thread by which everything is hanging in the next financial crisis.
www.ft.com/content/4ed9...
Reposted by KrushV
NEW PIECE:"I have a confession to make. Two months ago I tried to crash the stock market.
Let me explain."
You'll want to read this one. It breaks news on the first week of the Payments Crisis while bringing crucial analysis of the current stock market crash
www.crisesnotes.com/the-stock-ma...
Let me explain."
You'll want to read this one. It breaks news on the first week of the Payments Crisis while bringing crucial analysis of the current stock market crash
www.crisesnotes.com/the-stock-ma...
The Stock Market is a Conventional Wisdom Processor: Why Trump’s Tariffs Crashed the Stock Market While the Trump Musk Payments Crisis Hasn’t (Yet)
The extensive “Notes on the Crises Investigative Journalism Source Wish List” can be found here. All listed items are important to me. As always, Sources can contact me over email or over signal (a se...
www.crisesnotes.com
April 8, 2025 at 10:34 AM
NEW PIECE:"I have a confession to make. Two months ago I tried to crash the stock market.
Let me explain."
You'll want to read this one. It breaks news on the first week of the Payments Crisis while bringing crucial analysis of the current stock market crash
www.crisesnotes.com/the-stock-ma...
Let me explain."
You'll want to read this one. It breaks news on the first week of the Payments Crisis while bringing crucial analysis of the current stock market crash
www.crisesnotes.com/the-stock-ma...
Reposted by KrushV
Adam Tooze nos explica que el mercado crítico es el de los bonos estadounidenses. Podrían absorber parte del caos y dar a Trump un respiro. Podrían fallar de forma “normal” (2008, 2020). Y podrían fallar y llevar a una crisis de confianza en el dólar (☠️). adamtooze.substack.com/p/chartbook-...
Chartbook 369 Are we on the edge of a major financial crisis? Trump's Chart of Death and why bonds not equities are the big story.
The stock market sell off triggered by Trump’s grotesque Liberation Day has been dramatic and has added intense urgency to the sense of polycrisis many of us have been feeling in recent months:
adamtooze.substack.com
April 7, 2025 at 3:02 PM
Adam Tooze nos explica que el mercado crítico es el de los bonos estadounidenses. Podrían absorber parte del caos y dar a Trump un respiro. Podrían fallar de forma “normal” (2008, 2020). Y podrían fallar y llevar a una crisis de confianza en el dólar (☠️). adamtooze.substack.com/p/chartbook-...
Reposted by KrushV
NEW PIECE: I'm finally back & just in time to provide the big picture analysis of the Trump Tariff stock market crash. I'll have a follow up piece about the stock market tomorrow & at least one payments system piece later this week.
www.crisesnotes.com/trumps-liber...
www.crisesnotes.com/trumps-liber...
Trump’s “Liberation Day” and the Ongoing Stock Market Crash: The Key Lessons to Take into the Second Week of the Market Bloodbath.
Hello readers, apologies for my extended absence. It has been a little more than three weeks since my last piece, simultaneously published by Notes On The Crises and Rolling Stone, assessing the extre...
www.crisesnotes.com
April 7, 2025 at 10:45 AM
NEW PIECE: I'm finally back & just in time to provide the big picture analysis of the Trump Tariff stock market crash. I'll have a follow up piece about the stock market tomorrow & at least one payments system piece later this week.
www.crisesnotes.com/trumps-liber...
www.crisesnotes.com/trumps-liber...