Category Archives: Dubious statistics

Enforcement of Puerto Rico’s Colonial Debt Pushes Out Young Workers

Yves here. This post corrects some of the misleading accounts of the history of the Puerto Rico’s debt crisis and describes how the neoliberal remedy is producing an Ireland-style exodus of the young. By José A. Laguarta Ramírez. Originally published at Triple Crisis At least 23 of the 49 people killed in the mass shooting […]


Hensarling’s “Market Regulation” Replacement to Dodd Frank Proves He Does Not Understand Banking

Yves here. Steve Waldman wrote a definitive post in 2009, Capital can’t be measured, on a core issue that Black discusses here. A key section: So, for large complex financials, capital cannot be measured precisely enough to distinguish conservatively solvent from insolvent banks, and capital positions are always optimistically padded. Given these facts, and I […]


Michael Pettis: China – How Much Investment is Optimal?

If China’s very low level of social capital has long ago made its investment strategy obsolete, that suggests that China has overinvested beyond its capacity to utilize these investments economically. Thus there are hidden losses on bank balance sheets created by the failure to write down physical capital to its true value. In this case Chinese growth cannot help but drop significantly as these losses are finally recognized and as investment levels are sharply curtailed.