Portugal : financiarisation périphérique, endettement privé et crise souveraine

Le cas portugais montre comment la libéralisation financière et l’intégration à l’euro ont favorisé l’endettement privé, la montée de l’immobilier et la fragilisation de l’économie réelle. La crise de 2010-2011 apparaît ainsi comme celle d’un modèle financiarisé, pas seulement des comptes publics. #Financialization #Portugal #Eurozone #SovereignDebt #EuropeanPeriphery #PoliticalEconomy…

https://homohortus31.wordpress.com/2026/05/29/portugal-financiarisation-peripherique-endettement-prive-et-crise-souveraine/

"Governments and their central banks may pretend to be lowering interest rates to spur the economy, but the basic reason is to re-inflate prices for financial securities and real estate.

That’s the main aim of today’s finance capitalism, after all. Its aim of increasing fortunes by creating debt-leveraged asset-price gains has turned economies into a great Ponzi scheme.

This policy must fail because preventing prices for collateral held by banks and other creditors from falling in price, and thus causing a loss of financialized asset-price gains, requires the economy to take on more and more debt.
(...)
[A] Ponzi scheme has to be kept going because you need new entrants into the scheme. There is no real underlying value there. There is nothing actually generating wealth. Instead, there is a pretense, a claim that the scheme is making money, and very high dividends and capital gains are paid out to investors as if substantial profits are being earned.

But where does the money come from to pay these investors if there is no real generation of profits? The answer is that the promoters keep hyping the Ponzi scheme and hope that new investors will continue to join. As P.T. Barnum supposedly said, “There’s a sucker born every minute.” The scheme depends on attracting more and more participants, whose contributions are then used to pay the high dividends promised to the earlier investors.

This process can continue for a while, but eventually the nominal debts owed to depositors or participants become so large that new investors are no longer bringing in enough money to sustain the payouts. At that point, the entire scheme collapses.

The economy today resembles that kind of structure. The real estate sector, the banking sector, and stock market companies have all borrowed heavily just to pay the interest obligations that are coming due."

https://braveneweurope.com/michael-hudson-lena-petrova-why-this-is-not-the-1970s-again

#Capitalism #Financialization #CasinoCapitalism #PonziScheme #Debt

🧋BlackRock CEO Larry Fink disagrees with everyone who says there is AI bubble

｢ He added that global demand for computing power has reached a point where financial markets could eventually develop instruments tied to it.“A new asset class will be buying futures of compute,” Fink predicted, highlighting how access to computing resources may become a tradable commodity. “We just don’t have enough compute power right now,” he added ｣
https://timesofindia.indiatimes.com/technology/tech-news/blackrock-ceo-larry-fink-disagrees-with-everyone-who-says-there-is-ai-bubble-says-its-actually-the-opposite-as-we-have-severe-shortage-of-/articleshow/130998956.cms

#ai #bubble #aihype #financialization

@pluralistic inspired me to rant on the "metaness" of our world, and how we're consuming reality to power unreality. A world where data centers that will never be built to power AI nobody wants while people bet money on what a CEO of the AI company will say about data centers.

https://www.stevensavage.com/blog/2026/05/going-meta-into-nothingness.html

#meta #ai #financialization #economics #technology

Vicky Osterweil on Disney, Intellectual Property and Storytelling

https://fed.brid.gy/r/https://thefinalstrawradio.noblogs.org/post/2026/05/03/vicky-osterweil-on-disney-intellectual-property-and-storytelling/

OnlineFirst - "Financialization and local statecraft: Specifying actors, elevating politics" by Emily Rosenman:

#financialization #politicsofpublicfinance #distribution #financialgeography

https://journals.sagepub.com/doi/full/10.1177/0308518X261441483

OnlineFirst - "Financialization and local statecraft: Truth and consequences" by Heather Whiteside:

#bankruptcy #debt #financialization #localstatecraft #neoliberalism

https://journals.sagepub.com/doi/full/10.1177/0308518X261441480

"Financialization — and, we might add, inequality, rentierism, and countless other maladies — are not corruptions of capitalist development, but debris thrown off by its whirlwind logic."

#financialization #economics

https://jacobin.com/2021/12/financialization-city-london-margaret-thatcher-england

RE: https://mamot.fr/@pluralistic/116319614491039970

Market participation is exhausting! The essential problem of #healthcare #financialization