Banking Crises of Capitalism: Spring 2023

Political economist Dr. Jack Rasmus makes important distinctions between what he calls precipitating, enabling and fundamental causes for the instability of the capitalist banking system in Mordor. The most immediate cause is the rapid rise of interest rates. The enabling cause was the real mismanagement that went on at SVB. The deeper causes were the increased speculation on the tech industry in the last four years combined with the free money injections from the Feds.

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