1. psychohistorian

    How interesting. In Oregon 10 cities are listed but Portland is not one of them……Hmmm

    Will there be a link to an archived version, please and thank you?

    1. Yves Smith Post author

      Thanks for asking. He puts the broadcast on line the next day, so I will hopefully remember to put it either in a post Monday or in Tuesday’s Links.

      1. BuzzP

        Actual broadcast is 1:00PM/EDT // 10:00AM/PDT

        Live feed –

        New Yorkers – WNYC 7:00PM broadcast is delayed and degraded – AM after dark signal is very weak – blame Laura Walker, and her dislike of Harry Shearer (going back to her days at KUSC)

    2. Rex

      If you want to catch it today (Sunday) you might search for a web page for one of the stations and see if they stream the show. I checked the San Francisco station KALW and they have options to stream through windows media or WinAmp and also podcasts to your iThing, etc.

      Here’s the page for KALW (show at noon Pacific Time)

      I assume anyone could use that, or search for a different station that streams from the list (link) Yves provided. And as Yves said you can get it after from the LeShow page.

  2. Kathleen4


    You were simply brilliant and wonderful on Harry Shearer’s program. Great clarity for me! You are right, this would make for great theatre if it were not so ugly.


  3. Phichibe


    Just listened to it on KALW (my former NPR station when I lived in CA, now listen over the Interwebs…). You were superb as always. I particularly loved your explanation of the HELOCs role in blocking resolution of the crisis. Somehow this point had either eluded me or slipped my memory. Thanks for the reminder.

    One thought as I listened to you, and as I read Krugman, and Richard Koo in particular: I owe the Japanese an apology for thinking that they mismanaged their post-crash economic miasma. It truly seems that we are repeating all the Japanese mistakes, and then some: the banks here are doing all the “extend and pretend” games that I couldn’t believe the Japanese were indulging in back in the 1990s, only our banks are doing it with Federal money.

    The truly scary thought is that, when it comes to dealing with what Koo calls a “balance-sheet recession”, the Japanese experience (“Lost Decade”, etc) may be the best possible case; the US and the EC, with the dual fantasy of “austerity”, may well be setting us on a trajectory to dealing with these economic tar-pits in the worst possible way.

    Best wishes,


    1. aletheia33

      this link takes me to yves’s earlier interview with shearer; the page is dated january 2011.

      1. just me

        Search Le Show Archives, link at http://harryshearer.com/news/le_show/

        Yves was interviewed before on 12/5/10 Le Show, rebroadcast 3/6/11; transcript at http://harryshearer.com/article/?auid=8gGDo2536R6FbV

        Bill Black was interviewed on the 5/1/11 Le Show and supposedly there’s a transcript at http://harryshearer.com/article/?auid=AYik140715wneCF, but clicking the link takes me to a Jerry Lewis telethon script so I think there’s a website glitch there now. Anyway, here’s the jumpoff point: http://harryshearer.com/news/whats_new/ — maybe they’ll fix it.

        And David Cay Johnston was on 8/14/11 show but I don’t see a transcript. Another good interview.

        I’m a fan of Le Show, actually got hooked on it when Yves linked to it back in December. Great to hear there’s a new interview.

  4. PQS

    Loved it!

    Yves, might I humbly request a Patented Yves Smith Exposition of “Why the Government Balance Sheet is NOT Like a Household Balance Sheet?”

    You touched on it towards the end of the interview, but I, for one, would love to have some readily available talking points of Clarity for when this topic comes up with my Republican friends. As it so often does.

    Thanks, and you were wonderful.

  5. Dan DuPont

    Yves- An excellent iterview with Harry on the Sunday program which we listen to here on KCRW – in Santa Monica, “The Home of the Homeless”.
    Dr. Webster G. Tarpley has a new post (10/1/11) on his website- tarpley.net. The article is titled, “Europe Must Fight Back Against US-UK Speculative Attacks” His work is always very insightful. I hope that you will take the time to read this new analysis pointing a way forward in Europe. Thank You.

  6. smellslikechapter11

    Loved the interview.

    I didn’t know the banks were holding the HELOC seconds. If they try to collect on them instead of the first they are servicing for the investors, the Banks sure have a hell of conflict. There is a very good argument that anything they collect on the HELOC seconds should be turned over to the investors holding the first they are servicing. More liability, more mess, no end in sight.

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