Replacing Workers Has Many Costs
Companies remains short-sighted about the cost of ditching workers.
Read more...Author Archives: Yves Smith
Who Benefits When the Price of Insulin Soars?
Contrary to pharmaceutical company claims, revenue from high insulin prices are going to shareholders, not R&D
Read more...Press Ferrets Out More Falsehoods by CalPERS CIO Ben Meng, Evidence of Poor Leadership, in Giving Up >$1 Billion Hedge Payday
CalPERS’ embattled CIO Ben Meng digs his $1 billion hole deeper with not-credible defenses. Tell the board not to cede more authority to him.
Read more...Links 4/18/2020
How COVID-19 Showed America’s Dependence on Blue-Collar Workers
The outbreak of “hero” talk is a long-overdue admission that blue-collar workers are the backbone of the US economy. Time to pay them more.
Read more...#DemExit Now: How the Democratic Party Cheated Bernie Sanders Out of the Nomination
How the Dems played dirty with Sanders.
Read more...CalPERS Staff Seeks to Strip Board of Remaining Authority Even as Press Exposes Multi-Billion Cost of Lack of Supervision; Elected Board Members Thumb Nose at Public by Seeking to Be Paid for Doing Almost Nothing
CalPERS staff is up to more dirty tricks. Push back by e-mail in public comments. Bad press already has them on the back foot.
Read more...Taleb Questions CalPERS Ben Meng’s Competence and Honesty in Defending Missed $1 Billion Hedge Gain; Taleb Estimates CalPERS Net Loss on Meng’s “Alternative Mitigation” Over Two Years at $19 Billion
Nassim Nicholas Taleb calls out one of CalPERS CIO Ben Meng’s Big Lies, and unearths an even bigger one.
Read more...A Payments Holiday is More Realistic Than You Think
It may be simpler to enact a payments holiday than to try to get money to the hands of individuals who desperately need it.
Read more...Is There Any Better Time Than Now For a General Strike?
May Day is around the corner. It seems a fitting time for workers to demand better via a general strike.
Read more...DemocracyWatch: Global Pandemic Power Grabs
Yet another pandemic downside….
Read more...Lockdown Rebelliousness: Denying that Coronavirus Is in Charge
The supposed irresistable force of the economy is losing out to the immovable object of the coronavirus.
Read more...Links 4/16/2020
Taleb: The Only Man Who Has A Clue
A recap of what Taleb and his fellow complex systems analysts have been saying about coronavirus. Not pretty.
Read more...The New Fault Lines in a Post-Globalized World
Coronavirus is smashing up the economic and political order. What sort of world comes next?
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