The Long Term Damage of Economic Downturns
As the well off sail on, either unaffected by or profiting from Covid’s impact, for many, the economic damage is severe and lasting.
Read more...Author Archives: Yves Smith
Why Would Anyone Buy Crypto Art – Let Alone Spend Millions on What’s Essentially a Link to a JPEG File?
Trying to make sense of crypto art.
Read more...Links 3/16/2021
New York City Lost a Record 631,000 Jobs to the Pandemic in 2020. So What’s Next?
A look at the raw numbers behind the pain of New York City’s biggest economic downturn since the Great Depression.
Read more...Biden Stimulus Plan Shores Up Weakest Multi-Employer Pension Plans Rather than Taking on Private Equity Abuses
A Biden rescue of the sickest private pension plans goes largely under the radar.
Read more...New Zealand’s Feeble Attempt to Curb Sky-High Housing Prices
New Zealand, awfully late in the game, is trying to Do Something about insane housing prices.
Read more...Nomi Prins: To Build or Not to Build? The Infrastructure Question
For all sorts of bad reasons, American has a huge infrastructure spending backlog. But can we even do the job well?
Read more...Links 3/13/2021
The Productivity of Working from Home: Evidence from Japan
A new study confirms others in concluding that productivity is lower when normally office-based employees work from home.
Read more...Brazil’s Catastrophic Management of COVID-19 Threatens the Entire World
Bolosonaro is responsible for Brasil’s botched Covid response. But the consequences extent far beyond the country’s borders.
Read more...Mayberry v. KKR: Pitched Battle as Attorney General and Defendants Try to Block “Tier 3 Plaintiffs” Pursuing Claims Aggressively
The mudslinging! The disingenuous arguments! The clever retorts! The crafty lawyering! Welcome to Mayberry v. KKR, the Tier 3 chapter.
Read more...Failed COVID Strategy Leaves Sweden Deeply Divided
Sweden became a symbol for anti-lockdown and no-mask movements across the world. But it’s no longer a source of consensus at home.
Read more...Work in 2021: What Makes a “Good Job” Good?
Musing on the place of work in society.
Read more...Former Board Member JJ Jelincic Sues CalPERS Over Illegal Secret Board Discussion After CIO Ben Meng’s Abrupt Departure and Hiding of Records Related to $583 Million Overstatement of Real Estate Assets
Former CalPERS board member JJ Jelincic is pursuing the thankless task of getting the agency to shape up. He may have found a leverage point.
Read more...DSGE, the Standard Economic Paradigm, is Based on Bad Modeling
Why the New Keynesian Dynamic Stochastic General Equilibrium (DSGE) is a straightjacket for macroeconomics.
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