Where Has All The Lending Gone?

With seventy times more reserves in the banking system and just under twice the loan volume than when the financial crisis hit, traditional banks seem unable or unwilling to meet current credit demands. Borrowers’ increasing reliance on peer-to-peer (P2P) lending provides an indicator of those credit demands unmet by traditional banks. Online P2P lending networks, […]

There is no Glory in the Grave

“The working class of Europe has nothing to gain from this war and everything to lose,” Irish European Parliament member Clare Daly stated in October 2022. “I find it laughable that those who call for arms to Ukraine never call for arms for the people of Palestine, or for the people of Yemen.” She is […]

economies face slower growth amid high rates, bank stress

Higher rates and overhangs from this year’s banking crisis will drastically slow economic growth for the biggest global economies, the World Bank said Tuesday. The institution said advanced economies — the U.S., Japan and euro area countries — are expected to grow by only 0.7% in 2023, down from 2.6% in 2022. The U.S. is […]