Author Archives: Yves Smith

Why Workers Memorial Day Is a National Call to Action

On the odd decision by American labor unions to have their own solidarity day, the Workers Memorial Day, rather than participate in May Day.

Even Credentialed Young People Pessimistic About Their Futures

The fact that even well-placed young people are insecure and pessimistic is further proof of the impact of inequality and rentierism.

Abolish the OCC

The idea of getting rid of a hopelessly captured and largely redundant bank regulator, the OCC, is gaining support.

We Really Do Need to Rethink the Economics of Saving, Most of Which Is Nonsense

Savings plays an important role in household management (or does when the household isn’t desperate), yet economists don’t get it.

The Corporate Food Takeover

Corporate ownership in many sectors of food production has risen and is set to increase further. Another rentier program well underway.

Links 4/27/2021

The Idiotic Saga of the New York Times Cooking Community

A New York Times brand extension project goes pear shaped.

The Ugly Truth About Renewable Power

Questions about how to make intermittent renewable energy production work for users conditioned to always-here power.

California Judiciary Committee Gives Blistering Assessment of CalPERS’ Fiduciary Duty Failings in Analysis of Fraud-Friendly Private Debt Secrecy Bill

The Judiciary Committee’s analysis of a CalPERS-sponsored bill shows that Sacramento is noticing the fund’s chicanery and incompetence.

Links 4/24/2021

The COVID-19 Catastrophe in India Keeps Growing

The Covid nightmare in India won’t end soon. Yet the West, despite self-interested reasons for reducing the contagion, is standing pat.

From an Un-Caring Economy to a Caring Economy: The Tax Justice Network Podcast, April 2021

“Caring economy” sounds awfully soft and fuzzy. However, it may finally be time to reject utlitarian views of how we organize our resources.