Author Archives: Yves Smith

Labor Admits Superannuation Is a Ponzi Scheme

An Australian proposal would put stressed superannuation funds in even more trouble.

The Coming Battle for the COVID-19 Narrative

Will the disruption of Covid-19 deal a major blow to market ideology?

The Use and Abuse of MMT

Using government spending power to bail out financiers and rentiers makes a travesty of MMT.

CalPERS Dumps Risk Hedge Right Before Coronacrash, Sacrificing $1 Billion and Confirming Doubts About Chief Investment Officer Ben Meng’s Expertise

CalPERS supposed star hire Ben Meng just cost the giant fund $1 billion, over the objections of expert adviser Wilshire Associates.

COVID-19 Crisis Threatens Beleaguered Assisted Living Industry

Unregulated assisted living facilities are becoming hotbeds of coronavirus cases.

Overloaded Morgues, Mass Graves and Infectious Remains: How Forensic Pathologists Handle the Coronavirus Dead

The handling of the dead is a major but not much discussed challenge with coronavirus.

Links 4/9/2020

The Misguided Discussion of “Herd Immunity”

On the large gap between what the public and the scientific/medical community think about Covid-19 immunity, including testing for it.

Last Chance to Save the Euro?

The actions taken so far to salvage the single-currency union expose its fatal flaws. The last bout of stress will be a test to destruction if fundamental changes aren’t made.

The Coming Debt Crisis

Emerging market economies loaded up on debt after the crisis, which is now looking like a particularly bad move.

Angela Merkel Urged To Put European Solidarity Over German Interests and Back Coronabonds

Angela Merkel is under pressure to abandon her long-standing “Germany first” policy towards the EU. Will she finally relent?

Martin Wolf and Wishful Thinking on Ending Coronavirus Lockdowns

It would be nice to go back to something like the old normal. But the coronavirus is still very much in charge.

How to Pay for the Pandemic War

Government responsese to the pandemic are making a hash of one of the comparatively easy issues.

New York Fed, FDIC Tout “Opacity in a Banking Crisis” to Keep Corporations, Hedge Funds, PE Firms & Counterparties in the Dark about Weak Banks

An article by Fed and FDIC researchers argues for hiding banks’ dirty laundry. Too bad the authorities didn’t make banks shape up instead.