These are the CASSE blog articles on banking.


Putin the Heinous Strikes at Global Wellbeing

by Brian Czech

When the name “Putin” is uttered—from now until the end of human utterance—the first thing that should come to mind is hundreds of thousands (and counting) of dead and wounded. Putin has turned a verdant, peace-seeking country into a hell-scape of suffering, including starvation. Let’s not overlook the Ukrainian casualties, now or ever.

Now, Putin is taking an even deeper stride into the annals of infamy by orchestrating one of the most despicable episodes of wanton waste in history: his attack on Ukrainian grain stocks and infrastructure.


Lesson from a Failed Bank: Only One Real Start-Up

by Brian Czech

Banks are macroeconomic mirrors. They reflect the activity of the real economy. If the economy is growing, so are the banks, starting with the Federal Reserve and its regional banks, all the way out to tiny First Michigan Bank, Oakwood Bank (the smallest bank in bank-laden Texas), and the patriotically named Citizens Bank of Americus (Georgia).

Not only do the banks,


Sell Your Stocks and Enjoy the Slide

by Brian Czech

I’m sorry if you’re one of the 145 million Americans invested in the stock market, but I actually find it gratifying to see the market sliding. Why shouldn’t I? As a steady stater, I’m firmly against GDP growth in the 21st century. A perpetually growing stock market presupposes a perpetually growing economy. If the market has to decline along with GDP, I’m all for it.


Houston, We Have a Credit Problem

by Neil Tracey

In 2021, China had around 30 million homes sitting vacant for extended periods. There’s enough unused housing in China to house around 80 million people, roughly the population of Germany. This isn’t “slack” in the market; there is little hope that these homes will someday find an occupant. These homes are bound to remain empty.

Indeed, most of these homes are simply held as financial assets;


If It’s Profitable, Is It Really Sustainable?

by Gunnar Rundgren

That an economic activity has to be profitable is considered a truism, something taken for granted and not reflected upon. But what if the opposite is the case?

When I first took up small-scale organic farming in the 1970s, I spent a lot of energy on developing new methods and machinery to increase my productive efficiency. The early organic advocates went a long way to assure growers, farmers,


Bad Bros and Their Bitcoin

by Brian Snyder

Bitcoin needs to end, now. And other blockchain-based currencies along with it. If, like many people, you only have a vague idea of what Bitcoin is, you need to know two critical facts. First, Bitcoin is a currency that is “mined” via computing calculations, and second, in aggregate those calculations use about as much energy as the nation of Argentina. To make matters worse, that energy use is growing.

A recent analysis in Nature Communications estimated that by 2024 bitcoin mining in China alone would require nearly 300 terawatt-hours (TWh),


Where Does Inflation Hide?

By Herman Daly

The talking heads in the media explain the recent fall in the stock market as follows: A fall in unemployment leads to a tight labor market and the prospect of wage increases; wage increase leads to threat of inflation; which leads the Fed to likely raise interest rates; which would lead to less borrowing, and to less investment in stocks, and consequently to an expected fall in stock prices.


Cold War Leftovers

Daly challenges the assertion that a steady-state economy is inherently capitalistic and must be instead be based on a socialist system.


The Negative Natural Interest Rate and Uneconomic Growth

The next nonsensical strategy for maintaining the dream of endless GDP expansion? Negative interest rates!