Author Archives: Yves Smith

Of Course We Can Pay for a Green New Deal, but We Can’t Escape Hard Choices

A high-level discussion of some of the operational issues posed by a Green New Deal.

Bill Black: Three Natural Experiments Documenting Krugman’s Bias Against MMT

Funny how considering MMT brings out the worst in some people….

Links 3/15/19

Brexit: The Kindness of Strangers

The Thursday Brexit votes put the UK officially at the mercy of the EU.

Prominent CalPERS Beneficiaries Send Forceful, Savvy Objections to the Proposed Private Equity Scheme; Contrast With Canned Letters CalPERS Pressed Allies to Submit

As important stakeholders sound alarms, more evidence that CalPERS can’t make an honest case for its “new” private equity scheme and is calling in chips in a big way to cover for that.

Mars or Mercury Redux: How Geopolitics Influence Bilateral Trade Agreements

Quelle surprise! US trade agreements depend more on the US being a reliable military ally than many like to think.

Links 3/14/19

Brexit: Send in the Clowns

May takes yet more body blows….while the no deal threat is not yet disarmed.

MMT Responds to Brad DeLong’s Challenge

Randy Wray wades in yet again to contend with disinformation about MMT.

Brexit: Chaos Visible

Things continue to go badly for Theresa May’s Brexit.

The EU Is Facing Gigantic Questions About Its Future That Are Hidden in Obscure Bank Policy Decisions

The ECB again rides in to try to paper over fundamental problems with the EU’s structure and to offset is austerity bias by restarting QE. But the EU needs more government spending. Will it take another crisis to get there?

JJ Jelincic: CalPERS’ Plan to Create 2 New Private Equity Companies, Give Away Billions With No Control Makes No Sense….Except to Make Fund Managers Rich

CalPERS still can’t justify its new private equity business model, and has even retreated to calling it just a concept, yet it wants the board to sign a blank check at next week’s meeting.