Author Archives: Yves Smith

Links 7/1/2020

Beneath the Bluster, Boris Johnson’s ‘New Deal’ Offers Nothing New

Boris Johnson’s effort at a New Deal Big Lie goes splat.

Los Angeles Hit Hard by Implosion of Freelance Work

The collapse of high-end freelance work isn’t just about the loss of incomes. If it persists long enough, it means the loss of capabilities.

The Federal Government Always Money-Finances Its Spending: A Restatement

An explanation of the mechanics of Federal spending, with emphasis on the role of the Fed and Treasury.

Do Cry for Those in Arizona: What Happens When Politicians Disregard Health Care and Public Health Professionals During a Pandemic

How Arizona epitomizes the backwards approach the US has taken to its health care crisis.

Links 6/30/2020

Yanis Varoufakis: Interview with Léa El Azzi on Capitalism After the Pandemic, Europe, Greece, Lebanon & the IMF

A discussion of the state of capitailsm, with a European/Lebanase slant.

New Investment Gimmickry: Covid-19 Bonds

Covid-19 has engendered investment grifting.

We Won’t Have a Truly Global Economy Until We Tax It That Way

Tax is an enormously powerful tool for shaping economic policy and thus bears close watching.

Wall Street Journal’s Apologia for Private Equity Letting Companies Go Bust

The Wall Street Journal unwittingy defends private equity destructiveness.

Pentagon Porks Up as Covid-19 Bleeds Economy

Quelle surprise! Pentagon grifting continues apace, even in the face of a full-bore domestic crisis.

Links 6/27/2020

Michael Hudson on Coronavirus and Debt Winners and Losers

Michael Hudson explains why debt cancellation and turning banks into utilities is the only sound response to the cornacrisis.

Pandemic-Emptied Hotels Could Become Affordable Housing, City Officials Suggest

Potentially thousands of vacant hotel rooms in New York City alone are ripe for conversion into permanent residences, deputy mayor, housing groups and hotel owners agree.