The sort of people you want around if there’s ever a legitimacy crisis.
Saturday, December 20, 2014
Walter Dean Burnham and Thomas Ferguson: Americans Are Sick to Death of Both Parties: Why Our Politics Is in Worse Shape Than We Thought
The 2014 results were as bad for Democrats as the Democrats are pretending they aren’t
Today’s Water Cooler: Sony fallout, Warren on the TPP, our famously free press, the coming HIPAA horror show, and how to build a human.
Yves here. At this point, the Obama administration’s fealty to banksters is a “dog bites man” story. Nevertheless, it’s useful to catalogue particular incidents to show how consistent its behavior is. The latest case study is its shoddy treatment of whistleblowers.
Posted by Yves Smith at 6:55 am |
Germany will have clocked up a number of dubious concomitant successes this year. But these products of German hubris look like pyrrhic victories
I was going to say “lying weasel.” But that would be harsh.
Yves here. Helmer was first to provide in-depth reporting on the US citizen and State-Department supported Natalie Jaresko, who was mysteriously parachuted into the post of Ukraine Finance Minister a few weeks ago. Jaresko is in the midst of a nasty divorce from her former business partner. As Helmer wrote:
It hasn’t been rare for American spouses to go into the asset management business in the former Soviet Union, and make profits underwritten by the US Government with information supplied from their US Government positions or contacts. It is exceptional for them to fall out over the loot.
Helmer gives us the latest update on this protracted battle, and what it says about the Natalie Jaresko’s willingness to play fast and loose.
Today’s Water Cooler: Moar Cuba, Clinton 2016 primary strategy, DOJ sues NYC on Rikers, how fracktivists beat Cuomo, the year in outrage
Yves here. Wolf Richter is keeping tabs on the latest, peculiar housing bubble, in which real estate prices on the top end continue to rise into the stratosphere, while mid-range and cheaper properties languish. Nowhere has this pattern been more evident than in California and in particular, San Francisco.
Posted by Yves Smith at 6:55 am |
The Financial Times has an unusual story featured prominently today. As Jeb Bush has made a soft launch of his presidential campaign, the pink paper has published a surprisingly long list of financial relationships that do not put the Florida governor in a particularly good light.
The intriguing part isn’t so much a history of
dubious-looking complicated money dealings. It’s the fact that many of them are live.
Every year, I use the birthday post to thank the people who have contributed to the success of this site over time. Now that we are eight years old, that list is so long that any effort to do it justice will inevitably neglect some key people. So I hope no one takes offense at an oversight.
I started writing this blog because it seemed like a good idea at the time. More specifically, it seemed at that time that there were things that needed to be said. In the fall and winter of 2006, if you read between the lines of the Financial Times and Bloomberg, it was not hard to see that credit risk was grossly underpriced across all debt instruments, or to put it another way, that we were in the midst of a huge credit bubble. And you’d never be able to discern that by reading the Wall Street Journal or New York Times. It was clear this wall of liquidity, as it was described at the time, was going to end badly, but when and how was an open question.
Posted by Yves Smith at 3:52 am |
Yves here. This important post by Michael Pettis addresses whether the efforts of the Chinese to diversify their foreign investments away from the dollar will be a negative for the US. Pettis is skeptical of that thesis, and some of his reasons are intriguing. Like quite a few experts, he doubts that China’s role in sponsoring an infrastructure bank will be a game changer, and he also points out, as we have regularly, that the Chinese cannot deploy their foreign exchange reserves domestically without driving the renminbi to the moon (via selling foreign currencies to buy RMB), which is the last thing they want to have happen. A more surprising, but well argued thesis is that reduced Chinese purchases of US bonds would be a net plus for the US.
Get a cup of coffee. This is a meaty, important article.
Cuba/US diplomatic relations, Mexican Federal involvement in 43’s murder, organic compounds on Mars, seed exchange