Author Archives: Yves Smith

China’s Mountain Of Debt Is About To Crumble

A worrying update about China’s corporate debt.

Climate Damages: Uncertain but Ominous, or $51 per Ton of Carbon?

The dark and contested art of pricing carbon emissions.

Links 2/13/19

Even Endowments Not Beating Vanguard….So What Good Are Those High Fee Private Equity and Hedge Funds?

Even endowments, the supposed best of best among diversified investors, are finding that their old alternative investment mojo isn’t working these days.

A Study in Professional Power: Why Do the Big 4 Accountants Survive?

How the Big 4 accountants cemented their position and why that matters.

On Modern Monetary Theory (#MMT)

Mainstream economists are finally deigning to notice MMT.

How Neoliberalism Is Normalising Hostility

Tracing how neoliberalism has corroded social values.

Links 2/12/19

“Reverse Location Search Warrant”: A New Personal Data Hoovering Exercise Brought to You by Google

Welcome to reverse location search warrants, yet another technology-enabled violation of your Constitutional rights.

On the Built-In Instability of Cryptocurrencies

Why volatility of cryptocurrencies is a feature, not a bug.

Pelosi Advisor Proposes Non-Binding Arbitration as Road to Lowering Drug Prices

Team Dem contemplates non-binding arbitration as a fix for high drug prices. Help me.

Believing Six Impossible Things Before Brexit

Everyone around her is so weak that May still is very much in charge of Brexti, and that’t not a good outcome.

Climate Policy: On Buying Insurance, and Ignoring Cost-Benefit Analysis

Rethinking the analysis of climate change risk.

Links 2/9/19

Cryptocurrency Firms Regularly Lose Codes and Money

Cryptocurrency is more vulnerable to theft and loss than most of its fans want to believe.